Exhibit 99.14

Loan Number	Borrower Last Name	Final Rating	Credit Rating	Compliance Rating	Property Rating	Credit Exceptions	Compliance Exceptions	Property Exceptions	Compensating Factors
1	per data	2	1	2	1	Failure to obtain Title - Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Guidelines require that initial title report correctly reflects the information that will ultimately be on the title policy.) - Cleared - Cleared 01/17/2017 Lender Response: 01/07/2016: Prelim Issue Resolution: 01/07/2016: Audit review of Preliminary Report provided reflects accurate loan terms, documentation submitted is deemed acceptable. Condition cleared.; Missing Documentation - Lender did not provide an ATR/QM status determination. - Cleared - Cleared 01/04/2016 Issue Resolution: 1/4/2016:  QM status provided shown as a pass, condition cleared.  ; Missing Condo Questionnaire - File is missing condo questionnaire. Per guidelines please provide the condo questionnaire for the subject property. - Cleared - Cleared 01/04/2016 Issue Resolution: 1/4/2016:  satisfactory condo questionnaire provided, condition cleared. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 01/04/2016 Issue Resolution: 1/4/2016:  Third party fraud report with all variances addressed, provided. OFAC results shown as passed.	Missing Special Information Booklet / Home Loan Toolkit - Home loan tool kit is missing from the file.  - Cleared - Cleared 01/13/2016 Issue Resolution: 1/13/2016: The Due Diligence Firms Compliance Department has reviewed and approved the sellers Internal Policy and Procedures and how the Home Loan Tool Kit is delivered to the borrowers. No further documentation required, condition cleared. ; Failure to provide proof of OFAC Search - Third party fraud tool not provided, which is required to verify OFAC. - Cleared - Cleared 01/04/2016 Issue Resolution: 1/4/2016:  Third party fraud report with all variances addressed, provided. OFAC results shown as passed.; Missing Changed Circumstance form - Changed Circumstance form associated with Loan Estimate with Date Issued of XX/XX/XXXX does not reflect fees increase associated with resulting change - % of Loan Amount and Appraisal Fee (credit for $95.00 variance in Appraisal Fee reflected on CD). - Cleared - Cleared 01/17/2017 Issue Resolution: 1/13/2016:  It has been determined that the $XXXX fee increase when loan was locked was initially overlooked on the CoC when loan was reviewed, however, upon further review it has been confirmed that the fee was properly disclosed on the CoC dated XX/XX/XXXX, no further documentation required, condition as been cleared.  1/7/2016:  Final CD provided, however condition is regarding the CoC form.  The CoC form in file dated XX/XX/XXXX does not list the points fee going from $0.00 to $XXXX.  Condition remains.  1/7/2016:  To further clarify, % of Loan Amount fee in the amount of $XXXX.00 added on Loan Estimate with Date Issued of XX/XX/XXXX which was not documented on associated Changed Circumstance form.  $XXXX fee increase from Initial Loan Estimate to Final Closing Disclosure without proper documentation of increase to borrower. $XXXX refund to cure.; Missing Documentation - Intent to Proceed missing from the file.  - Cleared - Cleared 01/17/2017 Issue Resolution: 1/4/2016:  Executed Intent to Proceed provided dated XX/XX/XXXX, condition cleared. ; Sufficient RESPA Cure provided on HUD-1 - $95.00 cure on Final CD in section J. is sufficient for increase in appraisal fee with no supporting COC.   Loan will be graded a B for Fitch and A for others.   - Cured Post Close - Cured Post Close 01/07/2016 Issue Resolution: 1/7/2016:  $95.00 cure on Final CD in section J. is sufficient for increase in appraisal fee with no supporting COC.   Loan will be graded a B for Fitch and A for others. ; Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Initial Closing Disclosure has Date Issued of XX/XX/XXXX with consummation date of XX/XX/XXXX.  No evidence of borrower acknowledgment of receipt, therefore mailbox rule/presumed receipt is applied.  Timing requirement not met.  - Cleared - Cleared 01/13/2017 Issue Resolution: 1/7/2016:  Lender provided a copy of E-Sign History verifying borrower E-Consented the re-disclosed documents on XX/XX/XXXX.  No further documentation required, condition cleared.; Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C - % of Loan Amount fee in the amount of $XXXX added on Loan Estimate with Date Issued of XX/XX/XXXX which was not documented on associated Changed Circumstance form.  $XXXX fee increase from Initial Loan Estimate to Final Closing Disclosure without proper documentation of increase to borrower. $XXXX refund to cure. - Cleared - Cleared 01/17/2017 Issue Resolution: 1/13/2016:  It has been determined that the $XXXX fee increase when loan was locked was initially overlooked on the CoC when loan was reviewed, however, upon further review it has been confirmed that the fee was properly disclosed on the CoC dated XX/XX/XXXX, no further documentation required, condition as been cleared.  ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - Title Loan Service Fee added on Loan Estimate with Date Issued of XX/XX/XXXX without Changed Circumstance and not reflected on any service provider list - subject to zero tolerance.  $280.00 refund for cure required. - Cleared - Cleared 01/17/2017 Issue Resolution: 1/14/2016:  Seller provided the WLSP and the title company that was used on this transaction is listed on the service provider list, therefore are subject to the 10% tolerance.  The listed title fees are within the 10% tolerance, therefore the $280 refund is not required, condition cleared.; Missing corresponding W.L.S.P. for Initial L.E. in File DID SHOP Fee (Section C) - No WLSP in file. Please provide the WLSP provided for the borrower to shop for services. - Cleared - Cleared 01/07/2016 Issue Resolution: 1/7/2016:  WLSP provided dated within 3 days of initial application.  Condition cleared. ; Total of Payments is not accurate - CD value of $XXX,XXX vs. calculated value of $XXX,XXX for a variance of $X.XX  - Cured Post Close - Cured Post Close 01/07/2016 Issue Resolution: 1/7/2016:  Due Diligence firm has acknowledged that this loan does not meet TRID requirements, however due to this is an over disclosure loan will be graded a "B".   Investor to make final determination.  ; Total Interest Percentage (TIP) is not accurate. - TIP: 69.371% does not match the CD 69.370%, Variance is .001%  - Cured Post Close - Cured Post Close 01/07/2016 Issue Resolution: 1/7/2016:  Due Diligence firm has acknowledged that this loan does not meet TRID requirements, however due to this is an over disclosure loan will be graded a "B".   Investor to make final determination.		CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.
26	per data	2	1	2	1	Missing asset documentation - Missing pages 1-14 of investment account statement dated XX/XX/XXXX.  - Cleared - Cleared 01/17/2017 Issue Resolution: 09/27/16: Lender provided the investment statement dated XX/XX/XXXX. Condition cleared. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Please provide an industry standard fraud tool along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 09/27/2016 Issue Resolution: 09/27/16: Lender provided the third party fraud report for the borrower and co borrower. No outstanding issues noted. Condition cleared.	Services Borrower DID SHOP Fee (Section C) & Recording Fee (Section E) exceed corresponding L.E. fee (10% Tolerance, when payee = Other or Borrower Permitted to shop for services) - Section E Recording Fees are subject to 10% tolerance. LE dated XX/XX/XXXX reflects recording fees of $150.00 ($165.00 at 10%) with no resulting COC for any subsequent disclosures. The final CD reflects a charge of $187.00 for a variance/refund required of $22.00 to meet 10% threshold.   - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 09/26/2016:  A Post Closing CD was provided in the loan file reflecting Section E Recording Fee in the amount of $84.00, which is within the 10% tolerance.  Loan will be rated a B for Fitch and A for others. ; Missing Loan Estimate / LE Not in File - Missing LE for WLSP dated XX/XX/XXXX. - Rescind - Rescind 01/17/2017 Lender Response: 9/26/2016:  Can you please escalate this condition? LE does not need to match with the WLSP in the file.  The borrower signed the initial 1003 on XX/XX and we have the LE dated XX/XX in the file. We are in compliance.  Issue Resolution: 9/27/2016:  Audit has reviewed and determined that the WLSP dated XX/XX/XXXX was issued within 3 days of the LE being issued on XX/XX/XXXX, therefore no violation, condition rescinded.  ; Closing Disclosure document error - The homeowner's insurance premium was not collected at closing.  - Cured Post Close - Cured Post Close 09/26/2016 Issue Resolution: 9/26/2016: A Post Closing CD was provided in the loan file reflecting homeowner's insurance premium paid at closing in section F.  Loan will be rated a B for all agencies.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.15%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 781; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.00 months reserves
50	per data	2	2	2	1	General Credit Exception - Title reflects an outstanding lien of $X,XXX,XXX per Schedule BII item #10; please provide evidence of satisfaction or release. - Cleared - Cleared 01/13/2017 Issue Resolution: 10/28/2016:  Per title supplement, item #10 will be deleted on final commitment, condition cleared. ; Missing hazard insurance declaration - Missing Hazard Insurance Declaration; Hazard Insurance Policy not in effect at time of closing. - Override - Acknowledged 10/18/2016 Issue Resolution: 10/17/2016:  Exception granted for properties located in CA when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 10/28/2016 Issue Resolution: 10/28/2016:  Third party fraud report provided with all variances addressed, condition cleared.	Missing Special Information Booklet / Home Loan Toolkit - The loan file is missing a copy of the Home Loan Took Kit as evidence it was provided to the borrower. - Cleared - Cleared 10/27/2016 Issue Resolution: 10/27/2016: Documentation provided verifying that the Home Loan Toolkit was provided within 3 days of application, condition cleared.; Missing Changed Circumstance form - Missing changed circumstance form for CD dated XX/XX/XXXX reflecting a change in loan amount from $X,XXX,XXX to $X,XXX,XXX; change in rate from X.XX% to X.XX%, and change in discount points to $X,XXX and change in Broker Fees from $XX,XXX to $XX,XXX.  - Cleared - Cleared 01/17/2017 Issue Resolution: 10/27/2016:  Audit has reviewed the documentation provided by the Lender and determined that there was a missing LE dated XX/XX/XXXX along with a valid change of circumstance supporting the loan amount increase, the rate increase, the discount increase, and Origination Fee increase, condition cleared. ; Points and Fees exceed Qualified Mortgage threshold - $XX,XXX > $XX,XXXX maximum points and fees allowed by Temporary Qualified Mortgage Testing - Cleared - Cleared 01/13/2017 Issue Resolution: 12/1/2016:  Per in house counsel, 2 discount points can be excluded from testing, therefore the loan no longer exceeds the points and fees QM threshold, condition cleared.   11/5/2016:  Rate Sheet provided, audit has reviewed and determined that the points are not bona fide, therefore the condition remains.  10/28/2016:  Final CD with an issue date of XX/XX/XXXX was already provided in the loan file and was used in the compliance review.  Points and Fees exceed QM threshold.  Maximum permitted $XX,XXX vs. actual $XX,XXX.  Please provide copy of rate sheet to determine if the points are bona fide.  ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal fee of $995 and no fee for an Appraisal Fee 1004 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal fee in the amount of $710 and an Appraisal fee 1004D in the amount of $315 resulting in a $30 refund due for cure. - Cleared - Cleared 10/28/2016 Issue Resolution: 10/28/2016:  Copy of valid COC provided verifying change in appraisal fees to $710 and $315 for 1004D, condition cleared.  ; Missing Loan Estimate / LE Not in File - Missing the LE to reflect the loan amount of X,XXX,XXX to $X,XXX,XXX and the interest rate of X.XX%. - Cleared - Cleared 01/13/2017 Issue Resolution: 10/27/2016:  Audit has reviewed the documentation provided by the Lender and determined that there was a missing LE dated XX/XX/XXXX along with a valid change of circumstance supporting the loan amount increase, the rate increase, the discount increase, and Origination Fee increase, condition cleared. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number of the Settlement Agent is missing. - Cured Post Close - Cured Post Close 10/17/2016 Issue Resolution: 0/17/2016:  A Post Close CD in the loan file reflects the license ID.  Condition cleared.  The loan will be rated a B for all agencies.; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent  disclosure for the borrower. - Cleared - Cleared 10/27/2016 Issue Resolution: 10/27/2016:  Copy of e-consent signed at closing provided, however please note, none of the documents were e-consented, therefore the e-consent signed at closing is not material, as it was not required, condition cleared. ; Missing borrower’s documented Intent to Proceed - Missing evidence of borrower's documented Intent to Proceed.  Please provide the borrower's acknowledgement of Intent to Proceed. - Cleared - Cleared 01/17/2017 Issue Resolution: 10/27/2016:  Intent to proceed dated XX/XX/XXXX provided, condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves
92	per data	2	1	2	1	General Credit Exception - Missing evidence of Third Party Origination documentation. - Cleared - Cleared 10/12/2016 Issue Resolution: 10/12/16: TPO provided. Broker obtained the application on XX/XX/XXXX and the loan submission package provided by the lender on XX/XX/XXXX. Condition cleared. ; Missing Documentation - Missing evidence the liability in section 9 of the DU was paid in full.  Additional conditions may apply. - Rescind - Rescind 10/12/2016 Lender Response: 10/12/16: The obligation in question was closed on credit but not paid off at closing. It is included in the DTI.  Issue Resolution: 10/12/16: Included the debt and DTI in line with 1008. Condition rescinded. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply - Cleared - Cleared 10/12/2016 Issue Resolution: 10/12/16: Lender provided a copy of the third party fraud report. No outstanding issues noted. Condition cleared. ; Missing rate lock verification - Missing rate lock verification - Cleared - Cleared 10/12/2016 Issue Resolution: 10/12/16: Lender provided the rate lock verification. Condition cleared. ; Missing Verification of Taxes and Insurance amounts for Rental Property - Missing evidence of taxes for the 2nd property listed on the Schedule of Real Estate Owned on the final loan application. - Cleared - Cleared 10/12/2016 Issue Resolution: 10/12/16: Lender provided a copy of the taxes for the REO. Condition cleared.	Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License number of the Settlement Agent is missing. - Cured Post Close - Cured Post Close 10/10/2016 Issue Resolution: 10/10/2016:  A Post Closing CD in the loan file reflects the Settlement Agent's licence number.  Condition cleared.  The loan will be rated a B.; Closing Disclosure document error - The Homoeowner's Insurance premium in section F of the final Closing Disclosure is missing the service provider and the Transfer Taxes of section E is missing the government entity. - Cured Post Close - Cured Post Close 10/10/2016 Issue Resolution: 10/10/2016:  A Post Closing CD in the loan file provided the service provider and government entity.  Condition cleared.  The loan will be rated a B.; Missing borrower’s documented Intent to Proceed - Missing evidence of borrower's acknowledge of Intent to Proceed.  Please provide the acknowledge of the borrower's Intent to Proceed. - Cleared - Cleared 10/12/2016 Issue Resolution: 10/12/16: Lender provided the borrower’s documented intent to proceed. Condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; No Mortgage Lates No Mortgage Lates in #84 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #40.35 months excess reserves
46	per data	1	1	1	1	Missing Third Party Fraud Tool Supporting Documentation - Please provide an industry standard fraud tool along with any supporting documents based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 10/11/2016 Issue Resolution: 10/11/2016:  Third party fraud report provided with all variances addressed, condition cleared.	Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing. - Cleared - Cleared 10/11/2016 Issue Resolution: 10/11/2016:  Post close CD provided reflecting the settlement agent contact information along with notification of error, condition cleared. ; Missing borrower’s documented Intent to Proceed - Missing the Borrower's Intent to Proceed.  The Intent to Proceed documentation is in the file however; it was not acknowledged by the Borrower. - Cleared - Cleared 10/11/2016 Issue Resolution: 10/11/2016:  Intent to proceed dated 7/28/2016 provided, condition cleared.
163	per data	2	1	2	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 11/17/2016 Issue Resolution: 11/17/2016:  Third party fraud report provided with all variances addressed, condition cleared.	Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing. - Cured Post Close - Cured Post Close 11/17/2016 Issue Resolution: 11/17/2016:  Post close CD provided updating the disbursement date, the license number of the Settlement Agent, and the payee for the property taxes in Section F along with a copy of the notification of error, loan will be graded a B.   ; Funding occurred before RTC Expiration Date - Funding occurred before RTC expiration date of XX/XX/XXXX. Please provide evidence when the loan disbursed ie..copy of internal screen shot showing the funding/disbursement date. If there has been an error reported on the CD, please provide an updated CD along with a copy of the notification of the error. - Cured Post Close - Cured Post Close 01/13/2017 Issue Resolution: 11/17/2016: Internal Screen shot provided from Lenders system reflecting the funding date as XX/XX/XXXX which is after the RTC Expiration Date.  A Post close CD was also provided updating the disbursement date, the license number of the Settlement Agent, and the payee for the property taxes in Section F along with a copy of the notification of error, loan will be graded a B. ; Closing Disclosure document error - The Property Taxes reflected in Section F of the final CD is missing the government entity.  - Cured Post Close - Cured Post Close 11/17/2016 Issue Resolution: 11/17/2016:  Post close CD provided updating the disbursement date, the license number of the Settlement Agent, and the payee for the property taxes in Section F along with a copy of the notification of error, loan will be graded a B.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 739; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 18.40 months reserves; Years on Job Borrower has 28 years on job
109	per data	2	1	2	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the third party fraud report. No outstanding issues noted. Condition cleared.	Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing. - Cured Post Close - Cured Post Close 10/12/2016 Issue Resolution: 10/12/2016: Corrected post close CD in file reflecting missing license number. Loan will be graded a B for all agencies. Condition cleared.; Closing Disclosure document error - The Homeowner's Insurance Premium in Section F of the final Closing Disclosure is missing the name of the payee.  - Cured Post Close - Cured Post Close 10/12/2016 Issue Resolution: 10/12/2016: Corrected post close CD in file reflecting missing payee. Loan will be graded a B for all agencies. Condition cleared.		CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 55.64%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 750
206	per data	2	2	1	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply - Cleared - Cleared 12/16/2016 Issue Resolution: 12/16/2016:  Third party fraud report provided with all variances addressed, condition cleared. ; Missing 4506-T - Missing final 4506-T for borrower business #1; Per Lender guidelines; a signed 4506-T is required at application and closing - Override - Acknowledged 12/15/2016 Issue Resolution: 12/15/2016: Condition waived based on business transcripts in the file. Executed 4506-T signed at closing deemed as non- material, loan will be graded a B.    ; Missing Executed Personal Tax Returns - Appendix Q, requires signed personal and business tax returns for self-employed borrowers. The tax returns in the file are not executed.  Loan is considered non QM compliant, as proof that signed/dated return was in the lender’s possession at or before consummation, cannot be verified. - Cleared - Cleared 12/16/2016 Issue Resolution: 12/16/2016:  Copies of both signed personal and business tax returns provided, condition cleared. ; Missing K-1 - Missing 2015 K1's for business entity #2 and #3 with 2014 and 2015 K1 missing for business entity #4 required per QM; Loan is considered non QM compliant, additional conditions may apply - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/2016:  2015 K1's for business entity #2 and #3 were provided in the loan file, please note this is a combined K1, please refer to the Supplemental K-1 Information Statement, for the breakdown of these 2 entities. K1 for business entity #4 was is in file listed with an abbreviation of the name which also shows same EIN to evidence it’s the same company.  2015 K1 not required as 2014 K1 reflects FINAL.  Condition cleared.     ; Flood Insurance not provided - Missing documented flood insurance; Flood certificate in file is illegible; additional conditions may apply. - Cleared - Cleared 12/16/2016 Issue Resolution: 12/16/2016:  Legible copy of the current flood policy provided, condition cleared.	Missing borrower’s documented Intent to Proceed - Missing evidence of borrower's documented Intent to Proceed.  - Cleared - Cleared 12/16/2016 Issue Resolution: 12/16/2016:  Borrowers intent to proceed dated XX/XX/XXXX provided, condition cleared. ; Missing seller’s Closing Disclosure - Missing seller's Closing Disclosure - Cleared - Cleared 12/16/2016 Issue Resolution: 12/16/2016:  Per compliance, ok to clear the finding with what the lender provided.  The CD does reflect the seller’s costs and now proof has been provided that the seller acknowledged receipt.  All seller CD requirements are met, condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 59.56%; Reserves are higher than guideline minimum UW Guides require 9 months subject reserves, loan qualified with 43.70 months reserves
79	per data	2	1	2	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Please provide an industry standard fraud tool along with any supporting document based on fraud report findings. Please provide Fraud Report.  Additional conditions may apply. - Cleared - Cleared 10/07/2016 Issue Resolution: 10/07/16: Lender provided a third party fraud report for the borrowers. All variances have been addressed. Condition cleared.	Missing Special Information Booklet / Home Loan Toolkit - The loan file is missing a copy of the Home Loan Tool Kit as evidence it was provided to the borrowers. - Cleared - Cleared 10/07/2016 Issue Resolution: 10/07/16: Lender provided evidence of receipt of the special information booklet/Home Loan Tool Kit within 3 days of the application date. Condition cleared. ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects a Credit Report fee of $50 with no resulting CoC for an subsequent disclosures.  The final CD reflects a Credit Report fee of $89.50 resulting in a $39.50 refund due for cure. - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 10/05/2016:  The final CD in the loan file reflects a $39.50  Credit Report charge cure.  Condition cleared.  The loan will be rated a B for Fitch and A for others.; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,522.95 a month vs. the calculated value of $1,506.42 a month. The lender added estimated monthly hazard of $200.00 vs actual $183.50.  - Cleared - Cleared 10/07/2016 Issue Resolution: 10/07/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; No Mortgage Lates UW Guides require 0x30 days late in the most recent 24 months, Credit Report verifies 44 months payment history with no late payments reported ; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 38 months reserves
102	per data	2	1	2	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply. - Cleared - Cleared 10/11/2016 Issue Resolution: 10/11/2016:  Third party fraud report provided with all variances addressed, condition cleared.	Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Appraisal Fee and Credit Report Fee in section B of the final Closing Disclosure did not properly disclose the name of the payee.  Please note that a letter of explanation to the borrower must also be issued.   - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of delivery. Condition cleared.; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects a Credit Report Fee of $25.00 with no resulting CoC for any subsequent disclosures.  The final CD reflects a Credit Report Fee of $29.75.  This fee is in a 0% tolerance section. Lender tolerance cure of $4.75 is required.   - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 10/07/2016:  The final closing disclosure reflects a post close tolerance cure of $79.75, which consisted of the $4.75 refund to the borrower, which is sufficient.  Loan will be grade a B for Fitch and A for others. ; Incorrect disclosure of Transfer Taxes - Section E - The transfer tax listed in section E of the final Closing Disclosure does not list the name of the government entity assessing the tax. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of delivery. Condition cleared.; Closing Disclosure document error - The XXXXX, HOA Dues, HOA Transfer Fee, NHD Fee, Real Estate Commission Buyers Broker and Real Estate Commission Sellers Broker fees are missing the name of the payee in section H of the Closing Disclosure.  Please note that a letter of explanation to the borrower must also be issued. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of delivery. Condition cleared.; Missing borrower’s documented Intent to Proceed - Provide an executed copy of the Intent to Proceed disclosure for the borrowers. - Cleared - Cleared 10/11/2016 Issue Resolution: 10/11/2016:  Intent to Proceed dated XX/XX/XXXX provided, condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808; Reserves are higher than guideline minimum UW Guides require 9  months reserves, loan qualified with 13.3 months reserves; Years on Job Borrower has 9.25 years on job
155	per data	2	1	2	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Please provide an industry standard fraud tool along with any supporting document based on fraud report findings.  Additional conditions may apply. - Cleared - Cleared 11/02/2016 Issue Resolution: 11/02/16: Lender provided a copy of the third party fraud report and addressed issues regarding ownership interest in other properties. Included the property detail. Condition cleared.	General Compliance Exception - Inaccurate placement of the tax lien in section H other which should be disclosed in the payoff and payments section on page three of the Closing Disclosure. Please provide a letter of explanation to the borrower, corrected CD, and evidence of delivery.  - Cured Post Close - Cured Post Close 11/10/2016 Issue Resolution: 11/10/2016:  Post close CD provided listing the tax lien in the payoff and payment section only, along with a copy of the notification of error, loan will be graded a B, condition cleared.  11/02/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. However, the tax lien description and amount was left in section H and also posted in the payoff and payments section. Please provide the corrected CD showing only in the section Payoff and Payments in order to reconcile the cash required to close and proper disclosure. Condition maintained. ; Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Missing evidence borrower receipt of Initial Closing Disclosure 3 business days prior to consummation.  The initial closing is dated XX/XX/XXXX.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met. - Cleared - Cleared 01/13/2017 Issue Resolution: 11/02/16: Lender provided evidence of receipt of the initial closing disclosure on XX/XX/XXXX. Condition cleared. ; Services Borrower DID SHOP Fee (Section C) & Recording Fee (Section E) exceed corresponding L.E. fee (10% Tolerance, when payee = Other or Borrower Permitted to shop for services) - Section E Recording Fees are subject to 10% tolerance.  LE dated XX/XX/XXXX reflects recording fees of $150 with no resulting COC for any subsequent disclosures.  Final CD reflects a recording charge of $200.00. - Cured Post Close - Cured Post Close 01/13/2017 Issue Resolution: 10/25/16: Corrected on the post close CD,$120.00 closing costs above the legal limit. Loan will be graded a B for Fitch and A for others. ; Missing Loan Estimate / LE Not in File - The initial LE dated XX/XX/XXXX which corresponds with the WLSP in the loan file and the LE dated XX/XX/XXXX which corresponds with the COC dated XX/XX/XXXX are missing from the loan file. Additional conditions may apply.  - Cleared - Cleared 01/13/2017 Lender Response: 10/31/2016:  this condition is invalid, the application is 08/11/2016, and the LE dated XX/XX/XXXX is within 3 days corresponds with the WLSP in the loan file. We  do not have LE dated XX/XX/XXXX, but there is the initial CD dated XX/XX/XXXX in the file  Issue Resolution: 11/02/16: Lender provided the LE dated XX/XX/XXXX that corresponds with the COC located on page 30. Condition cleared. 11/1/2016: Audit has reviewed and determined that the WLSP dated before the LE is allowable since it was within the 3 days of application date window, therefore there is no LE dated XX/XX/XXXX, but dated XX/XX/XXXX.  Audit has also reviewed and determined that there appears to have been a typo and the LE that was not provided in the loan file was dated XX/XX/XXXX and not XX/XX/XXXX.  Please provide the LE dated XX/XX/XXXX that corresponds with the COC located on page 30.  ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.  Please provide a corrected CD along with a LOE to the borrower and confirmation of delivery. - Cured Post Close - Cured Post Close 11/10/2016 Issue Resolution: 11/02/16: Lender provided the post close corrected CD, LOE to the borrower, and evidence of mailing. Loan will be graded a B.  Condition cleared.10/25/216:  A Post Close CD in the loan file did not reflect the Settlement Agent's License ID.  Condition remains.; Funding occurred before RTC Expiration Date - The right to cancel is dated to expire on midnight the date of consummation.  - Cured Post Close - Cured Post Close 11/10/2016 Issue Resolution: 10/25/16: Corrected on the post close/Funding CD. Loan will be graded a B for Fitch and A for others .  ; Closing Disclosure document error - The Post Closing Disclosure, Section F, Property Taxes, is missing the correct name of the taxing authority. Please provide a letter of explanation to the borrower, corrected CD, and evidence of delivery. - Cured Post Close - Cured Post Close 11/10/2016 Issue Resolution: 11/02/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.  Loan will be graded a B. ; Missing borrower’s documented Intent to Proceed - Missing the Borrower's Intent to Proceed.  An acknowledgement is in the loan file however; it is not executed by the borrowers. - Cleared - Cleared 11/02/2016 Issue Resolution: 11/02/16: Lender provided the borrower's documented intent to proceed. Condition cleared.		CLTV is lower than guideline maximum UW Guides maximum CLTV of 80.00%, loan qualified with CLTV of 59.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 802.; Years in Field Borrower has 21 years in the field.
61	per data	1	1	1	1	Missing Third Party Fraud Tool Supporting Documentation - Please provide an industry standard fraud tool along with any supporting documents based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 10/07/2016 Issue Resolution: 10/7/2016:  Third party fraud report provided with all variances addressed, condition cleared.	Funding occurred before RTC Expiration Date - The Right To Cancel expired on XX/XX/XXXX and the final Closing Disclosure reflected the loan disbursed prior to this date. - Cured Post Close - Cured Post Close 01/13/2017 Issue Resolution: 10/06/2016:  A Post Closing CD reflected the correct disbursement date of XX/XX/XXXX.  Condition cleared.  The loan will be rated a B for Fitch and A for others.
68	per data	2	1	2	1	Missing Documentation - Marital status box not checked for co borrower on final application. Additional conditions may apply.  - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the complete final 1003 showing the marital status of the co borrower. Condition cleared. ; Missing final application (1003) - Missing page 2 & 3 of the final application. Additional conditions may apply.  - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the complete final 1003 showing the marital status of the co borrower. Condition cleared. ; Missing asset documentation - Missing terms of withdrawal for 401k.  - Cleared - Cleared 10/31/2016 Issue Resolution: 10/31/2016:  401K withdrawal terms provided, condition cleared. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the third party fraud report. No outstanding issues noted. Condition cleared.	Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $595 with no resulting CoC for any subsequent disclosures. The Final CD dated reflects an Appraisal Fee of $620 resulting in a $25 refund due for cure.   - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 10/10/2016: Final CD shows a sufficient tolerance cure in the amount of $25.00. Loan will be graded a B for all agencies.; Total Interest Percentage (TIP) is not accurate. - The Final CD reflects Total Interest Percentage (TIP) of XX.XX% vs actual TIP of XX.XX% with a difference of 4.994% over-disclosed. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: The final CD signed at closing shows a TIP of XX.XX% which matches the actual TIP of XX.XX%. Condition cleared. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing. - Cured Post Close - Cured Post Close 10/11/2016 Issue Resolution: 10/11/2016:  A Post Closing CD provided in the loan file reflects a License ID for the Settlement Agent.  Loan will be rated a B for all agencies.; Funding occurred before RTC Expiration Date - Final CD reflects funding occurred before RTC Expiration Date. Borrowers were not provided a 3 day rescission period. Please provide evidence of when funds were disbursed. Additional conditions may apply.  - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided an evidence of the funding date which was after the 3 day rescission period. Condition cleared. ; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure  indicates the Estimated Taxes, Insurance and Assessments as $874.06 a month vs. the calculated value of $875.56 a month. The lender used the incorrect amount of $80.00 for the hazard insurance vs. the actual amount of $81.50. - Cured Post Close - Cured Post Close 10/11/2016 Issue Resolution: 10/10/2016: Corrected on post close CD.  Loan will be rated a B for all agencies.; Closing Disclosure document error - The Homeowners Insurance in Section F is missing the name of the payee.  - Cured Post Close - Cured Post Close 10/11/2016 Issue Resolution: 10/11/2016:  A Post Closing CD provided in the loan file reflects the name of the payee for the Homeowner's Insurance.  Loan will be rated a B for all agencies.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.81 months reserves
156	per data	2	2	1	1	Missing hazard insurance declaration - The effective date of the hazard insurance policy is XX/XX/XXXX, which is after the closing date.  Unable to issue client waiver as effective date of XX/XX/XXXX was not on or before disbursement date of XX/XX/XXXX. - Override - Acknowledged 01/13/2017 Issue Resolution: 10/19/2016:  Audit has reviewed and determined that the loan did not actually fund until XX/XX/XXXX, therefore the subject hazard policy is acceptable.  Investor is providing a blanket waiver for purchase transactions closed in the subject property State where the effective date of the hazard insurance is after the Note date but on or prior to the transfer of funds date.  Final grade will be a B non-material on these waived exceptions.; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply. - Cleared - Cleared 10/19/2016 Issue Resolution: 10/19/2016:  Third party fraud report provided with all variances addressed, condition cleared.	General Compliance Exception - MA - Demonstration and Documentation of Compliance with Borrower's Interest Requirement (Lender signature required) is Not in File. - Rescind - Rescind 10/19/2016 Issue Resolution: 10/19/2016:  Subject property is not located in MA, therefore this condition was placed in error, condition is rescinded. ; Waiver by borrower of C.D. timing requirement not properly documented for APR variance (Under disclosed) - Missing evidence of APR re-disclosure. The final Closing Disclosure reflects an APR of 4.077%. The prior Loan Estimate dated XX/XX/XXXX reflects an APR of 3.830%, which is a difference of 0.247% and exceeds allowable tolerance of 0.125% - Rescind - Rescind 01/17/2017 Issue Resolution: 10/14/2016:  Audit has reviewed and determined that a valid COC was provided supporting the increase in the APR, therefore condition has been rescinded. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Title – Closing/Escrow Fee, Title – Document Preparation Fee, Title – Loan Tie-In Fee and Title – Wire Transfer Fee are reflected in section B of the final Closing Disclosure. The borrower shopped for their own title service provider and did not use the provider on the WLSP.  The title service provider fees should be listed in section C of the CD. - Rescind - Rescind 10/19/2016 Issue Resolution: 10/19/2016:  Audit has reviewed and determined that the current title fees listed in Section B are indeed from a provider that was listed on the WLSP (see pg 74), therefore these fees are listed correctly and do not need to be moved to Section C.  To further verify, these title fees listed in Section B are within 10% tolerance, therefore this condition is not valid and is rescinded.   ; APR on Final Closing Disclosure is inaccurate in relation to previous Initial disclosure(s) – no evidence of further re-disclosure in file (APR > 0.125 variance – Under disclosed) - Missing evidence of APR re-disclosure. The final Closing Disclosure reflects an APR of 4.077%. The prior Loan Estimate dated XX/XX/XXXX reflects an APR of 3.830%, which is a difference of 0.247% and exceeds allowable tolerance of 0.125% - Rescind - Rescind 01/17/2017 Issue Resolution: 10/14/2016:  Audit has reviewed and determined that a valid COC was provided supporting the increase in the APR, therefore condition has been rescinded.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 42.25%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.4 months reserves
91	per data	1	1	1	1	Missing Documentation - Evidence of Lender of Record Application Date is not provided in file.  - Rescind - Rescind 10/12/2016 Issue Resolution: 10/12/16: Upon further review, audit has determined the disclosures are in compliance. Condition rescinded. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply - Cleared - Cleared 10/14/2016 Issue Resolution: 10/14/2016:  Third party fraud report provided with all variances addressed, condition cleared. ; Missing Evidence of HELOC Draw for the Past 12 Months - Missing 12 months draw history to verify that no draws greater than $2000 has occurred; Additional conditions may apply  - Rescind - Rescind 10/12/2016 Issue Resolution: 10/12/2016:  Review of credit report in the file, reflects a 38 month draw history. HELOC included in cash out total. Condition rescinded.	Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Missing evidence of borrower and non-borrowing spouse receipt of Initial Closing Disclosure 3 business days prior to consummation. When factoring mailbox rule/presumed receipt,the timing requirement to consummation is not met. - Cleared - Cleared 01/13/2017 Issue Resolution: 10/21/2016:  Received copy of initial CD verifying non-borrowing spouse also acknowledged the Initial CD on XX/XX/XXXX via wet signature, which is at least 3 business days prior to consummation, condition cleared.   10/13/2016:  Lender provided a copy of eDisclosure History verifying borrower eConsented the Initial CD documents on XX/XX/XXXX which is at least 3 days prior to consummation, however pending evidence that the non-borrowing spouse also acknowledged the Initial CD 3 business days prior to consummation.  ; Lender Refund to Cure insufficient to cover overages in C.D. Services Borrower DID NOT SHOP Fee - Section B (Undisclosed and Under Disclosed) - Credit report Fee and recording fee on the final CD are $75.00 and $105.00. LE dated XX/XX/XXXX does not list Credit Report Fee and the Recording Fee is $100.00 . The recording fee and credit report fees are in a 0% tolerance sections. Lender tolerance cure of $80.00 is required.  Section J reflects $78.00 tolerance cure that is insufficient. - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 10/14/2016:  Audit has reviewed and determined that the Recording Fee actually has a 10% tolerance, not a 0% tolerance as stated prior.  Borrower meets the 10% cumulative tolerance threshold since the borrower did not shop.  However the credit report fee is subject to 0% tolerance, therefore a $75 cure was required since the credit report fee was not disclosed on the initial LE nor was the addition of the fee supported by COC.   Lender did provide the $75 cure on the Final Post Close CD that was provided to borrower at disbursement, which is sufficient.  Loan will be graded a B for Fitch and A for others.  ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number and/or State License number of the Settlement Agent is missing. - Cleared - Cleared 10/14/2016 Issue Resolution: 10/14/2016:  Received post close CD updating the contact information for the settlement agent, along with a copy of the notification of error, condition cleared.  ; Funding occurred before RTC Expiration Date - Right to Cancel provided in the loan file reflects a transaction date of XX/XX/XXXX with an expiration date of XX/XX/XXXX. The loan disbursed on XX/XX/XXXX - not giving the Borrower a full 3 days rescission.   - Cleared - Cleared 01/13/2017 Issue Resolution: 10/13/2016:  The CD in question was from the Dry Closing, Lender submitted the Final/Post Close CD from Disbursement verifying the actual disbursement date to be XX/XX/XXXX.  This was also supported by a screen printout from the Lenders Internal Operating System verifying the funding was indeed XX/XX/XXXX, therefore the borrower was given the 3 full days of rescission, condition cleared.   ; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent disclosure for the co-borrower. - Cleared - Cleared 10/21/2016 Issue Resolution: 10/21/2016:  Borrower's e-consent was provided in the loan file, there is no co-borrower, and non-borrowing did not e-consent to any documents therefore an e-consent was not required, condition cleared.  ; Missing borrower’s documented Intent to Proceed - Missing evidence of borrower's documented Intent to Proceed.  - Cleared - Cleared 01/17/2017 Issue Resolution: 10/14/2016:  Intent to proceed dated XX/XX/XXXX provided, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 21.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 792; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.09%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #66.42 months excess reserves
87	per data	2	1	2	1	Missing Documentation - The HELOC agreement for the borrower's other real estate owned is not signed. Please provide the signed executed copy of the agreement. Additional conditions may apply.   - Rescind - Rescind 10/31/2016 Lender Response: 10/28/2016:  Why would it need to be executed it is reporting on the borrower’s credit already this is the borrowers copy they obtained when they signed docs they do not obtain their signed copy back. This shouldn’t be necessary it isn’t a new loan it is a seasoned loan on credit.  Issue Resolution: 10/31/2016:  Audit has reviewed and determined that the HELOC in question is an existing HELOC and has been reviewed on the credit report for the past 23 months, there for a signed HELOC agreement is not required, condition rescinded. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 11/02/2016 Issue Resolution: 11/02/16: Lender provided a copy of the third party fraud report. No outstanding issues noted. Condition cleared.	General Compliance Exception - The Transfer Tax in section E and the property taxes in Section F are missing the taxing authorities. The regulations that cover the disclosure of transfer tax (1026.38(g)(1)) and property tax (1026.38(g)(2)) require a payee to be listed. Please provide a letter of explanation to the borrower, corrected CD, and evidence of delivery.  - Cured Post Close - Cured Post Close 11/10/2016 Issue Resolution: 11/02/16: Lender provided the post close corrected CD, LOE to the borrower, and evidence of mailing.  Loan will be graded a B.  Condition cleared.; Missing Special Information Booklet / Home Loan Toolkit - The loan file is missing a copy of the Home Loan Tool Kit as evidence it was provided to the borrowers. - Cleared - Cleared 11/02/2016 Issue Resolution: 11/02/16: Lender provided evidence of receipt of the Home Loan Tool Kit within 3 days of the application date. Condition cleared.  ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing. - Cured Post Close - Cured Post Close 11/10/2016 Issue Resolution: 11/02/16: Lender provided the post close corrected CD, LOE to the borrower, and evidence of mailing. Loan will be graded a B. Condition cleared.; Closing Disclosure document error - The Homeowner's Insurance Premium in section F is missing the service provider. - Cured Post Close - Cured Post Close 10/24/2016 Issue Resolution: 10/24/2016:  A Post Close CD in the loan file contains the service provider for HOI in section F.  Condition cleared.  The loan will be rated a B for all agencies.; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent disclosure for the borrowers.  The E Consent in the loan file is dated XX/XX/XXXX which is after the first documents was esigned and there is not other tracking in the loan file. - Cleared - Cleared 11/10/2016 Issue Resolution: 11/10/2016: Copy of signed e-consent dated XX/XX/XXXX provided, condition cleared.    11/3/2016:  Received copy of the initial disclosure packet dated XX/XX/XXXX, however the Consent to Receive Communications Electronically is not executed, please provide.  11/02/16: Lender provided an audit trail however, not the evidence of the borrower's consent to receive documentation electronically. Condition maintained. ; Missing borrower’s documented Intent to Proceed - Missing the Borrower's Intent to Proceed.  Provided the Borrowers acknowledgment of their Intent to Proceed.  The loan file contains a copy of the Intent to Proceed however; it is not signed. - Cleared - Cleared 11/02/2016 Issue Resolution: 11/2/16: Lender provided evidence of the borrower's documented intent to proceed. Condition cleared. ; Missing seller’s Closing Disclosure - File is missing the seller's closing disclosure. Additional conditions may apply. - Cleared - Cleared 11/02/2016 Issue Resolution: 11/02/16: Lender provided a copy of the seller's closing disclosure. Condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 805; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12 months reserves; Years on Job Borrower has 6.25 years on job
147	per data	2	1	2	1	Illegible Documentation - Letter of explanation on page 200 is illegible.  - Cleared - Cleared 11/15/2016 Issue Resolution: 11/15/2016 Legible copy of page 200 provided.   This was the LOE for the purpose of cash out, condition cleared. ; Missing income documentation - Missing paystub dated within 30 days of application date. Per Lender's guideline's paystubs must be dated no earlier than 30 days prior to the application date.  - Cleared - Cleared 01/13/2017 Issue Resolution: 11/15/2016:  Lender provided a written verification of employment dated XX/XX/XXXX containing year to date earnings and income for 2015 and 2014, condition cleared. ; Missing verbal verification of employment - Verbal verification of employment dated XX/XX/XXXX is expired. Per lender guidelines the Verbal verification of employment must be dated 10 days prior to the note.  - Rescind - Rescind 01/13/2017 Lender Response: 11/11/2016:  Dated XX/XX/XXXX, Note date is XX/XX/XXXX They can’t count weekends in the 10 days and can’t count XX/XX/XXXX per funder as that was a legal holiday day so it is still valid exactly 10 days. Issue Resolution: 11/15/2016:  Audit has reviewed and determined that the VVOE provided in the loan file is dated within 10 business days of the Note date.  Please note that XX/XX/XXXX was a legal holiday, therefore could not count that day, condition rescinded. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 11/15/2016 Issue Resolution: 11/15/2016:  Third party fraud report provided with all variances addressed, condition cleared. ; Missing LOE - Missing Letter of Explanation for reason for cash out.  - Cleared - Cleared 11/15/2016 Issue Resolution: 11/15/2016:  LOE provided from borrower verifying cash out is for home improvement, condition cleared.	Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Missing evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation. When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met. The initial closing disclosure is signed after the mortgage date. - Cleared - Cleared 01/13/2017 Issue Resolution: 11/29/2016 Lender provided initial CD signed by Co-borrower on XX/XX/XXXX. Condition cleared. 11/28/2016: Lender provided a copy of eDisclosure History verifying that the borrower eConsented the Initial CD documents on XX/XX/XXXX which is at least 3 days prior to consummation, however, missing evidence that the non-borrower consented the initial CD on 10/17/2016.  On rescindable transaction, the CD must be delivered to each consumer how has the right to rescind (both borrowers and non-borrowers)  Acknowledgment of receipt of the CD must be obtained from each consumer who receives the disclosure.   Also pending:  Please provide a copy of the E-Consent dated prior to 10/17/2016, E-Consent in file is dated at closing.  E-Consent given with the initial disclosures was not executed.  If the non-borrower also E-Consented, please provide a copy of their E-Consent.   11/15/2016:  Evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation not provided, condition remains. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - All loan costs associated with the transaction need to be listed regardless of who pays the fee.1026.38(f) Under the master heading “Closing Cost Details” with columns stating whether the charge was borrower-paid at or before closing, seller-paid at or before closing, or paid by others, all loan costs associated with the transaction, listed in a table under the heading “Loan Costs.” The table shall contain the items and amounts listed under four subheadings, described in paragraphs (f)(1) through (5) of this section. The final CD is missing the Appraisal Report fee. - Cured Post Close - Cured Post Close 11/15/2016 Issue Resolution: 11/15/2016:  Post close CD provided listing the Appraisal Report fee along with the notification of error, loan will be graded a B. ; Naming Convention in Services Borrower DID NOT SHOP Fee - Section B in C.D. is not consistent - The Credit Report Fee was paid to the Broker not the service provider.  - Cured Post Close - Cured Post Close 11/15/2016 Issue Resolution: 11/15/2016:  Post close CD provided listing the credit report fee paid to the broker for the benefit of the credit report agency along with the notification of error, loan will be graded a B. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure  Contact Information section is incomplete.  The License Number of the Settlement Agent is missing. - Cured Post Close - Cured Post Close 11/15/2016 Issue Resolution: 11/15/2016:  Post close CD provided listing the contact information for the settlement agent along with the notification of error, loan will be graded a B. ; Closing Disclosure document error - The Property Taxes listed in Section F of the final CD is missing the name of the payee. - Cured Post Close - Cured Post Close 11/15/2016 Issue Resolution: 11/15/2016:  Post close CD provided listing the payee for the property taxes along with the notification of error, loan will be graded a B.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 10.27 months reserves
161	per data	2	1	2		Illegible Documentation - Profit & Loss for Schedule C income is illegible. Per appendix Q, P&L is necessary for the loan to be classified as a Qualified Mortgage and a  Profit & Loss Statement is in the loan file however; it is illegible. - Cleared - Cleared 11/23/2016 Issue Resolution: 11/23/2016 Lender provided legible P&L. Condition cleared.; Missing verbal verification of employment - Co-borrower's Verbal Verification of Employment is dated XX/XX/XXXX. Please correct to current year.  - Cleared - Cleared 01/17/2017 Issue Resolution: 11/23/2016 Lender provided corrected VVOE. Condition cleared.; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 11/23/2016 Issue Resolution: 10/23/2016 Lender provided Fraudguard. Condition cleared.; Missing Balance Sheet - Balance Sheet for Borrower’s Schedule C business is missing the name of the Business and the To and From dates. Per appendix Q, a Balance Sheet is necessary for the loan to be classified as a Qualified Mortgage.  A Balance Sheet was provided in the loan file however; it is missing documentation for the business. - Cleared - Cleared 11/30/2016 Issue Resolution: 11/30/2016:  Per compliance, the initial balance sheet located in the original loan file does show the business name at the top of the sheet but appears it was partially cut off in fax.  It is dated 2016 with a signature date of XX/XX/XXXX,  so we are safe to assume it is from XX/XX/XXXX – XX/XX/XXXX, condition cleared.  11/30/2016:  Escalated to compliance for review.  11/23/2016 Lender provided Balance Sheet, however it is through a date that is post close. To qualify as a QM loan all documentation must be prior to consummation. Condition remains.	Closing Disclosure document error - The Property Taxes in section F of the final Closing Disclosure is missing the government entity.  - Cured Post Close - Cured Post Close 11/30/2016 Issue Resolution: 11/23/2016 Lender provided post close CD updating the payee in Section F, along with notification of error, loan will be graded a B.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 18.506%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17.59  months reserves
187	per data	2	2	2	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 11/17/2016 Issue Resolution: 11/17/2016:  Third party fraud report provided with all variances addressed, condition cleared. ; Missing 4506-T - Missing the final executed 4506-T's for business 1,2, 6, 7 and 8 listed on statement 5 of Schedule E of the 1040 Tax Returns. - Override - Acknowledged 11/17/2016 Issue Resolution: 11/17/2016:  Condition waived based on business transcripts in the file. Executed 4506-T signed at closing is deemed as non- material.	Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects a Credit Report Fee of $XXX and an Appraisal Fee of $XXX with no resulting CoC for any subsequent disclosures.  The final CD reflects a Credit Report fee of $XXX.XX and an Appraisal Fee of $XXX resulting in a $XXX.XX refund due for cure. - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 11/11/2016:  A RESPA credit report and appraisal fee charge cure of $XXX.XX was reflected on the final CD.  Condition cleared.  The loan will be rated a B for Fitch and A for others.; Incorrect disclosure of DID SHOP Fee (Section C) & Recording Fee (Section E) - The City/County Tax Stamps in section E of final CD is missing the government entity. - Cured Post Close - Cured Post Close 11/17/2016 Issue Resolution: 11/17/2016:  Post Close CD provided adding the payees for City/County Tax Stamps, hazard insurance, and real estate commission for the sellers broker along with the notification of error, loan will be graded a B.  ; Transfer tax Fees on C.D. exceeds corresponding LE fees (0% Tolerance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects Transfer Taxes of $XXXX with no resulting COC for subsequent disclosures.  The final CD reflects taxes in Section E of $XXXX resulting in a variance of $XXX.  Refund for cure due. - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 11/11/16:  A RESPA Transfer Tax charge cure of $XXX is reflected on the final CD.  Condition cleared.  The loan will be rated a B for Fitch and A for others. ; Closing Disclosure document error - The Homeowner's Insurance in section F  and Real Estate Commission Sellers Broker of section H are missing the name of the service providers. - Cured Post Close - Cured Post Close 11/17/2016 Issue Resolution: 11/17/2016:  Post Close CD provided adding the payees for City/County Tax Stamps, hazard insurance, and real estate commission for the sellers broker along with the notification of error, loan will be graded a B.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 216.10 months reserves
167	per data	2	1	2	1	Missing 1008 or Underwriter Approval - Missing lender loan approval/ 1008. - Cleared - Cleared 11/17/2016 Issue Resolution: 11/17/2016:  1008 and Lenders Loan Approval provided, condition cleared. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 11/17/2016 Issue Resolution: 11/17/2016:  Third party fraud report provided with all variances addressed, condition cleared.	General Compliance Exception - The NHD Fee in section H is missing the name of the service provider. - Cured Post Close - Cured Post Close 11/09/2016 Issue Resolution: 11/9/16:  A Post Close CD in the loan file reflects the name of the service provider.  Condition cleared.  The loan will be rated a B for all agencies.; Incorrect disclosure of Transfer Taxes - Section E - The Transfer Tax in section E is missing the name of the government entity. - Cured Post Close - Cured Post Close 11/09/2016 Issue Resolution: 11/9/16:  A Post close CD reflects the government entity.  Condition cleared.  The loan will be rated a B for all agencies.; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing. - Cured Post Close - Cured Post Close 11/09/2016 Issue Resolution: 11/08/2016:  A Post Close CD in the loan file reflects the license number.  Condition cleared.  The loan will be rated a B for all agencies.; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The post Closing Disclosure indicates the Estimated, Taxes, Insurance and Assessments as $XXXX a month vs. the calculated value of $XXXX a month.  The lender used the incorrect amount of $XXXX vs. the actual amount of $XXXX. - Rescind - Rescind 11/17/2016 Issue Resolution: 11/17/2016:  Audit has reviewed and determined that there was an input error and the actual premium should be $XXX.XX, therefore the estimated taxes, Ins & Assessments are now reporting accurately, condition rescinded. ; Closing Disclosure document error - The Homeowner's Insurance Premium in section F is missing the name of service provider and reflects the premium as $1,200 per year however; the actual policy reflects the amount is $XXX.XX per year. Furthermore, the Property Taxes is missing the government entity. - Cleared - Cleared 11/21/2016 Issue Resolution: 11/21/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.11/9/2016:  A Post Close CD reflects the service provider and correct amount for the hazard insurance.  The Property taxes is still missing the government entity.  Condition remains.		FICO is higher than guideline minimum 768 credit report; LTV is lower than guideline maximum 80% allowed 85%; Years in Field 17 years in field
108	per data	2	1	2	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply - Cleared - Cleared 11/15/2016 Issue Resolution: 11/15/2016:  Third party fraud report provided with all variances addressed, condition cleared.	Naming Convention in Origination Charges - Section A on C.D is not consistent - The naming convention of fees in section A of the CD is not consistent.  The final CD reflects Originator Compensation in the amount of $X,XXX and the Post Closing CD reflects a breakdown into the following two fees:  Originator Compensation in the amount of $X,XXX and Lock Extension Fee A1 in the amount of $XXX. - Cleared - Cleared 11/21/2016 Issue Resolution: 11/21/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.11/15/2016:  No changes were made on the post close CD, condition remains.  ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The final Closing Disclosure failed to reflect the Appraisal Fee of $500.00 in section B.  Additionally, a Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file.  The Credit Report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.   - Cured Post Close - Cured Post Close 11/15/2016 Issue Resolution: 11/15/2016:  A post close CD provided reflecting the credit report fee paid by other, along with a copy of the notification of error, loan will be graded a B.  11/09/2016:  A Post Closing CD provided in the file reflects the Appraisal Fee in section B, however the Credit Report Fee must also be disclosed or an attestation provided.  Loan will be rated a B for all agencies.; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing. - Cured Post Close - Cured Post Close 11/09/2016 Issue Resolution: 11/09/2016:  A Post Closing CD provided in the file reflects the License ID of the Settlement Agent.  Loan will be rated a B for all agencies.; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,331.65 a month vs. the calculated value of $1,235.51 a month. The lender used the incorrect amount of $150.00 Homeowner’s Insurance vs. the actual amount of $1,255.51. - Cured Post Close - Cured Post Close 11/15/2016 Issue Resolution: 11/15/2016:  Estimated Taxes, Insurance & Assessments section on Loan Estimate not reflected accurately, loan will be graded a B. ; Closing Disclosure document error - The property taxes in section F of the final Closing Disclosure are missing the government entity.   - Cured Post Close - Cured Post Close 11/09/2016 Issue Resolution: 11/09/2016:  A Post Closing CD provided in the file reflects the government entity for the property taxes in section F.  Loan will be rated a B for all agencies.		CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.07%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24 months reserves
179	per data	1	1	1	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply. - Cleared - Cleared 12/01/2016 Issue Resolution: 12/01/16: Lender provided the third party fraud tool. All variances/outstanding issues addressed. Condition cleared.	Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.  Please note that a letter of explanation to the borrower must also be issued.   - Cleared - Cleared 12/01/2016 Issue Resolution: 12/01/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.; Closing Disclosure document error - The property taxes in section F of the final Closing Disclosure are missing the government entity.  Please note that a letter of explanation to the borrower must also be issued.   - Cleared - Cleared 12/01/2016 Issue Resolution: 12/01/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.; Missing borrower’s documented Intent to Proceed - Provide an executed copy of the Intent to Proceed disclosure for the borrower. - Cleared - Cleared 12/01/2016 Issue Resolution: 12/01/16: Lender provided the borrower's documented intent to proceed. Condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 27.60 months reserves; Years on Job Borrower has 15 years on the job
223	per data	2	2	2	1	Missing hazard insurance declaration - The loan file is missing the hazard insurance declaration prior to closing.  The hazard insurance declaration is effective XX/XX/XXXX which is after the Note date. - Override - Acknowledged 01/13/2017 Issue Resolution: 11/30/2016:  Exception granted for properties located in CA when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply - Cleared - Cleared 12/05/2016 Issue Resolution: 12/5/2016:  Third party fraud report provided with all variances addressed, condition cleared. ; Missing 4506-T - Missing the initial and final 4506-T for the borrower's Corporation.  A 4506-T is in the file however, it is dated after the initial 1003. - Rescind - Rescind 01/13/2017 Issue Resolution: 12/5/2016:  A 4506-T was provided in the loan from application process and is dated XX/XX/XXXX.  There is no regulation nor is it listed in the investor guidelines stating that the 4506-T must be signed on the date of application nor within 3 days of the initial application.  The 4506-T must be provided during the "application process" and at closing per the investor guideline, in which both have been provided, therefore condition is rescinded.	Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file.  The Credit Report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/8/2016: Upon further investigation it has been determined that the attestation provided is sufficient to clear the finding.  12/08/16: Escalated to compliance for review, will advise as soon as possible.   12/5/2016:  Received LOE from Funder stating the Lender does not charge the borrower for this service, however per Compliance, we need an attestation that they pay an annual fee to the Vendor and there is no specific charge allocated to the transaction in question, please provide.    ; Incorrect disclosure of Transfer Taxes - Section E - The transfer tax listed in section E of the final Closing Disclosure does not list the name of the government entity assessing the tax. - Cured Post Close - Cured Post Close 12/01/2016 Issue Resolution: 12/01/2016: A Post Closing CD provided in the file reflects the transfer tax government entity.  Loan will be rated a B for all agencies.; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing. - Cured Post Close - Cured Post Close 11/30/2016 Issue Resolution: 11/30/2016:  A Post Close CD in the loan file reflects the license number.  Condition cleared.  The loan will be rated a B for all agencies.; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,345.50 vs. the calculated value of $1,368.59 a month.  The lender used the incorrect amount of $220.50 vs. the actual amount of $243.58. - Cured Post Close - Cured Post Close 11/30/2016 Issue Resolution: 11/30/2016:  A Post Close CD in the loan file corrected the escrow fees.  Condition cleared.  The loan will be rated a B for all agencies.; Closing Disclosure document error - The hazard insurance premium in section F of the final Closing Disclosure is missing the name of the payee and the property taxes in section F of the final Closing Disclosure are missing the government entity.  Additionally, the NHD Fee, Real Estate Commission Buyers Broker and Real Estate Commission Sellers Broker Fees are missing the name of the service providers. - Cured Post Close - Cured Post Close 12/01/2016 Issue Resolution: 11/30/2016:  A Post Close CD in the loan file reflects the payee, government entity and service providers.  Condition cleared for all.  The loan will be rated a B for all agencies.; Missing seller’s Closing Disclosure - Seller's CD was not provided in the loan file. - Cleared - Cleared 12/05/2016 Issue Resolution: 12/5/2016:  Per compliance, ok to clear the finding with what the lender provided.  The CD does reflect the seller’s costs and the sellers provided evidence that they acknowledged receipt on page 61 of the loan file.  All seller CD requirements are met, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  67.10 months reserves
175	per data	2	1	2	1	Illegible Documentation - 2014 & 2015 W-2 forms provided in the file are illegible.  Legible documentation must be provided. - Cleared - Cleared 11/15/2016 Issue Resolution: 11/15/2016:  Legible 2014 & 2014 W-2 forms provided, condition cleared. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply. - Cleared - Cleared 11/15/2016 Issue Resolution: 11/15/2016:  Third party fraud report provided with all variances addressed, condition cleared.	Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file.  The Credit Report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.   - Cured Post Close - Cured Post Close 11/15/2016 Issue Resolution: 11/15/2016:  Copy of the Notification of error provided, loan will be graded a B.  11/15/2016:  Lender provided post close CD reflecting the credit report fee as paid by the lender, please provide copy of the notification of error to the borrower. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.  Please note that a letter of explanation to the borrower must also be issued. - Cured Post Close - Cured Post Close 11/10/2016 Issue Resolution: 11/10/2016:  A Post Closing CD was provided in the file reflecting the License ID of the Settlement Agent.  Loan will be rated a B for all agencies.; Closing Disclosure document error - The property taxes in section F of the final Closing Disclosure are missing the government entity.  Please note that a letter of explanation to the borrower must also be issued.     - Cured Post Close - Cured Post Close 11/10/2016 Issue Resolution: 11/10/2016:  A Post Close CD provided in the file reflecting the government entity for the property taxes is reflected in section F.  Loan will be rated a B for all agencies.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.02%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 804; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 83.30 months reserves
277	per data	2	1	2	1	Missing Third Party Fraud Tool Supporting Documentation - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. Please note that a letter of explanation to the borrower must also be issued.  - Cleared - Cleared 12/21/2016 Issue Resolution: 12/21/2016:  Third party fraud report provided with all variances addressed, condition cleared.	General Compliance Exception - The property taxes in Section F are missing the taxing authorities. The regulations that cover the disclosure of transfer tax (1026.38(g)(1)) and property tax (1026.38(g)(2)) require a payee to be listed.     - Cured Post Close - Cured Post Close 12/14/2016 Issue Resolution: 12/14/16: Corrected on the post close CD. Loan will be graded a B. ; Sufficient RESPA Cure provided on HUD-1 - Final Closing Disclosure indicates a tolerance cure in the amount of $560.00. Appraisal Fee was added in Section B from LE dated XX/XX/XXXX.    - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 12/14/16 Cured post close, loan will be graded a B. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete. The license number of the Settlement Agent is missing.Please note that a letter of explanation to the borrower must also be issued.  - Cured Post Close - Cured Post Close 01/04/2017 Issue Resolution: 1/4/2017:  Received post close CD reflecting the completed contact information for the Settlement Agent, along with a copy of the notification of error to the borrower, loan will be graded a B. ; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - Estimated Taxes, Insurance & Assessment: CD fees are disclosed as $961.33. Actual fees total $959.58, a $1.75 over disclosure. - Cured Post Close - Cured Post Close 12/14/2016 Issue Resolution: 12/14/16: CD Estimated Taxes, Insurance & Assessments section is a non-material grade B for difference of $1.75. Loan will be rated a 'B' for all agencies. ; Closing Disclosure document error - On the post close CD, Escrow Refund Excess Deposit of $4,440.00 in Section H. The costs disclosed under § 1026.38(g)(4) include all real estate brokerage fees, homeowner’s or condominium association charges paid at consummation, home warranties, inspection fees, and other fees that are part of the real estate closing but not required by the creditor or not disclosed elsewhere under § 1026.38. Please provide clarification as to what the Escrow Refund Excess Deposit is for, and why it was disclosed in Section H. Additional Conditions may apply.  - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 1/4/2017:  Received post close CD reflecting the $XXXX refund back to borrower in Section K, along with a copy of the notification of error, loan will be graded a B.  12/29/2016:  Per Compliance and the Investor Guidelines, the $XXXX refund to the borrower can be considered a refund to the borrower and be considered reserves. The funds were verified prior to closing and we can trace source of the funds.  We can see how once the title company settled on the cash to close, the borrow met the reserve requirement.  Excess deposit refunds should be disclosed in the adjustment section of the CD, if the CD is on the format without an adjustment section, the excess deposit would be a negative number in section K.  Please provide an updated CD and a copy of the notification of error.   12/20/2016:  Escalated to compliance for review, will advise as soon as possible.		CLTV is lower than guideline maximum : UW Guides maximum CLTV of 75%, loan qualified with CLTV of 62.49%; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies 82 months total payment history with no late payments reported; Years on Job Borrower has 30 years in Field  per 1003
208	per data	1	1	1	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided a copy of the third party fraud report. No outstanding variances noted. Condition cleared. ; Missing 4506-T - 4506-T signed at loan application for the Co-Borrower's S Corporation was not provided. - Override - Acknowledged 12/07/2016 Issue Resolution: 12/7/2016:  Condition waived based on business transcripts in the file. Executed 4506-T deemed as non- material, loan will be graded a B.	Revised LE provision timing requirement to consummation not met - The re-disclosed LE reflects a Date Issued of XX/XX/XXXX.  Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to the consummation date.   - Cleared - Cleared 01/17/2017 Issue Resolution: 12/16/16: Lender provided the e tracking summary, showing evidence of receipt of the LE within 7 days of consummation. Condition cleared. 12/08/16: Lender provided the COC for the LE issued XX/XX/XXXX. Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to the consummation date. Condition maintained. ; Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Evidence of borrower's receipt of initial CD 3 days prior to consummation was not provided. The initial CD is dated within 3 days of the consummation date, however it was not signed and there is no evidence of an E-Tracking Summary or E-Consent Disclosure prior to.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.   - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided the e tracking summary, showing evidence of receipt of the initial CD within 3 days of consummation. Condition cleared. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file.  The Credit Report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.; Waiver by borrower of Revised LE timing requirement not provided or properly documented - There is no evidence of a waiver by borrower of revised LE timing requirement.  The re-disclosed LE reflects a Date Issued of XX/XX/XXXX.  Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to the consummation date.   - Cleared - Cleared 01/17/2017 Issue Resolution: 12/16/16: Lender provided the e tracking summary, showing evidence of receipt of the LE within 7 days of consummation. Condition cleared. 12/08/16: Lender provided the COC for the LE issued XX/XX/XXXX. Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to the consummation date. Condition maintained. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.  Please note that a letter of explanation to the borrower must also be issued.   - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,066.46 a month vs. the calculated value of $1,151.71 a month. The lender used a monthly amount of $75.00 for hazard insurance versus the actual amount of $160.25 per month. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.; Closing Disclosure document error - The hazard insurance premium in section F of the final Closing Disclosure is missing the name of the payee and the property taxes in section F of the final Closing Disclosure are missing the government entity.  Additionally, the Additional Commission Fee, Home Warranty Fee (Optional), Real Estate Commission Buyers Broker, Real Estate Commission Sellers Broker and Zone Disclosure Fees reflected in section H of the final Closing Disclosure do not reflect the name of the payee.  Please note that a letter of explanation to the borrower must also be issued.   - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.; Missing borrower’s documented Intent to Proceed - Provide an executed copy of the Intent to Proceed disclosure for the borrower. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided the borrower's documented intent to proceed. Condition cleared.; Missing seller’s Closing Disclosure - Seller's CD was not provided in the file. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: As directed by counsel, the attached CD does reflect the seller’s costs and the seller acknowledged receipt.  All seller CD requirements are met. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves
204	per data	2	1	2	1	Missing 1008 or Underwriter Approval - Missing 1008 loan transmittal - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/16: Lender provided the 1008. Condition cleared. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/16: Lender provided the third party fraud report. No outstanding issues noted. Condition cleared.	Missing Changed Circumstance form - The change in circumstance in the file shows an increase in the appraisal fee due to a "rush". It is potentially valid, depending on why/who requested.  If the borrower requested the rush, it would be valid under 1026.19(e)(3)(iv)(C). Please provide the request from the borrower. Additional conditions may apply.   - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/16: Lender provided an LOE from the borrower stating that they requested a rush on the appraisal.  COC is valid under 1026.19(e)(3)(iv)(C). Condition cleared. ; Revised LE provision timing requirement to consummation not met - The re-disclosed LE reflects a Date issued of XX/XX/XXXX.  Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to consummation.  The loan files does contain a tracking disclosure however; it does not reflect the name of document sent for the specific date. - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/16: Lender provided evidence of receipt of the re-disclosed LE within 4-7 specific business days prior to consummation. Condition cleared. ; Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Missing evidence of borrower receipt of initial Closing Disclosure 3 business days prior to consummation.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.  The loan file contains a tracking disclosure however; it does not reflect the name of the document sent to the borrowers. - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/16: Lender provided evidence of receipt of the initial CD within 3 business days prior to consummation. Condition cleared. ; Waiver by borrower of Revised LE timing requirement not provided or properly documented - No waiver in file signed by the borrower waiving the revised Loan Estimate timing requirement.  - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/16: Lender provided evidence of receipt of the re-disclosed LE within 4-7 specific business days prior to consummation. Condition cleared. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing.  Please provide a LOE to the borrower and confirmation of delivery. - Cured Post Close - Cured Post Close 12/19/2016 Issue Resolution: 12/15/16: Lender provided the corrected CD and LOE to the borrower. Condition cleared. Loan will be graded a B. 12/06/2016:  A Post Close CD in the loan file reflects the license number however; there is no LOE to the borrower and confirmation of deliver.  Condition remains.; Lender Credits on Final Closing Disclosure at closing is inaccurate in relation to previous Initial disclosure(s) - The final CD reflects a lender credit in the amount of $38.97. The lender credit decreased to $0.00 on the Post Close CD with no indication of a valid COC to account for the $38.97 decrease in the credit. Please provide the corrected CD within 60 days, and LOE to the borrower. - Cleared - Cleared 12/19/2016 Issue Resolution: 12/19/2016:  Audit has reviewed and determined that there was a tolerance cure in the amount of $38.97 appearing on the CD from Closing, however there was no tolerance cure violation, therefore no cure appearing on the final CD from funding, no further documentation required, condition cleared.  12/15/16: The decrease in the lender credit was from the final CD to the post close CD. The COC provided corresponds to the LE dated XX/XX/XXXX. Please provide the corrected CD within 60 days, and LOE to the borrower. Condition maintained.  ; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $643.60 a month versus the calculated value of $748 a month. The lender used the incorrect amount of $124.63 for the  hazard insurance versus the actual amount of $228.63 - Cured Post Close - Cured Post Close 12/06/2016 Issue Resolution: 12/06/2016: CD Estimated Taxes, Insurance & Assessments section is a non-material grade B for difference of $228.63. Loan will be rated a 'B' for all agencies. ; Closing Disclosure document error - The Property Taxes in section F is missing the government entity.  Please provide a LOE to the borrower and confirmation of delivery. - Cured Post Close - Cured Post Close 12/19/2016 Issue Resolution: 12/15/16: Lender provided the corrected CD and LOE to the borrower. Condition cleared, loan will be graded a B. 12/06/2016:  a Post Close CD in the loan file added the government entity however; no LOE or confirmation of delivery. Condition remains.; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. The loan file contains a E Consent however; it is dated the same date of the Note and documents were E Consented as of XX/XX/XXXX per the tracking disclosure.  Please provide E Consent disclosure prior to the Note date for the borrowers. - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/16: Lender provided evidence of the borrower’s consent to receive documents electronically prior to XX/XX/XXXX. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves
228	per data	1	1	1	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 12/09/2016 Issue Resolution: 12/09/16: Lender provided the third party fraud report. No outstanding issues noted. Condition cleared.	General Compliance Exception - The Property Taxes in section F is missing the government entity.   Please provide a LOE to the borrower along with confirmation of delivery. - Cleared - Cleared 12/09/2016 Issue Resolution: 12/09/16: Lender provided the corrected CD within 60 days of consummation, LOE to the borrower. Condition cleared.12/06/2016:  A Post Close CD in the loan file reflects the government entity however no LOE was in the loan file.  Condition remains.; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing.  Please provide a LOE to the borrower along with confirmation of delivery. - Cleared - Cleared 12/09/2016 Issue Resolution: 12/09/16: Lender provided the corrected CD within 60 days of consummation, LOE to the borrower. Condition cleared.12/06/2016:  A Post Close CD in the loan file reflects the license number however; no LOE.  Condition remains.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.29%; FICO is higher than guideline minimum  UW Guides require FICO of 700, loan qualified with FICO of 799; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 21.7 months reserves
185	per data	2	2	1	1	General Credit Exception - Missing LOX explaining employment for co-borrower employer #3; Additional conditions may apply. - Cleared - Cleared 01/04/2017 Issue Resolution: 1/4/2017:  Audit has reviewed and determined that no income for the co-borrower was used to qualify from employer #3.  Please note that the letter provided on page 295, verifies that the co-borrower is in good standing with the facility, no further documentation required, condition cleared.   ; Missing Documentation - Missing corrected Written Verification of Employment supporting W2 income documented for borrower employer #2: Missing Prior employer Written Verification of Employment disclosing period of employment for co-borrower employer #2:QM requires complete income documentation; Additional conditions may apply. - Cleared - Cleared 01/10/2017 Issue Resolution: 1/10/2017: Per Compliance, we do not believe you would need this VOE as co-borrower no longer is employed there and you have two years of verified employment history with the borrower, no income was used to qualify for co-borrower other than the negative income, condition cleared.   1/4/2017:  Written VOE was provided in the original loan file for employer #2 for Borrower #1.  The W-2 provided for 2015 matches the WVOE, however for 2014, it appears that the Written VOE does not break out non-taxable income, therefore there is a discrepancy.  The W-2 was more conservative and was validated by the IRS Transcripts, no further documentation required for B#1.  Escalated to compliance for review for co-borrower to determine if a prior written VOE is required, will advise as soon as possible.    ; Missing income documentation - Missing Trust Income Documentation for self-employed borrower with income payable to a trust; QM requires complete income documentation; additional conditions may apply. - Cleared - Cleared 01/10/2017 Issue Resolution: 1/10/2017: Per compliance, the trust documents are not required, no K-1 income was used to qualify other than the negative income, condition cleared. 1/5/2017:  Escalated to compliance for review, will advise as soon as possible.  1/4/2017:  Copy of a subordination agreement provided for the subject property, condition remains for a copy of the Trust Agreement reporting on the K-1's for 2015 and 2014 located on page 418 and 419 of the loan package. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 01/04/2017 Issue Resolution: 1/4/2017:  Third party fraud report provided with all variances addressed, condition cleared. ; Missing Trust Documentation - Missing Trust Documentation or certification of irrevocable trust for property vested in name of trust; additional conditions may apply - Cleared - Cleared 01/10/2017 Issue Resolution: 1/10/2017: Per compliance, the trust documents are not required, no K-1 income was used to qualify other than the negative income, condition cleared.   1/5/2017:  Escalated to compliance for review, will advise as soon as possible.  1/4/2017:  Copy of a subordination agreement provided for the subject property, condition remains for a copy of the Trust Agreement reporting on the K-1's for 2015 and 2014 located on page 418 and 419 of the loan package.  ; Missing 4506-T - Missing final 4506-T at closing for all borrower and co-borrower self-employment business per application; Lender guidelines required a signed 4506T at application and at closing.  - Override - Acknowledged 02/17/2017 Issue Resolution: 1/4/2017:  Condition waived per client based on business transcripts in the file pre-consummation. Executed 4506-T deemed as non- material.  Loan will be graded a B. ; Missing Balance Sheet - Missing Balance sheet for co-borrower self-employed business #3 reflecting corrected year-to-date 2016 period; documentation in file reflects XX/XX/XXXX through XX/XX/XXXX per pg411 and XX/XX/XXXX through XX/XX/XXXX per pg414; QM required current year-to-date balance sheet; Additional conditions may apply. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/4/2017:  Audit has reviewed and determined that the Balance Sheet that was provided on page 414-415, reflects an as of date of XX/XX/XXXX, which is current and dated within 90 days of closing, no further documentation required, condition cleared.  ; Missing W-2 - Missing W2 for primary borrower from employer #1: QM Requires complete income documentation;  Additional conditions may apply. - Cleared - Cleared 01/04/2017 Issue Resolution: 1/4/2017:  W2 for 2015 for primary borrower from employer #1 provided, condition cleared.  (please note:  borrower did not work for this employer in 2014, therefore only 2015 was required and provided)	Funding occurred before RTC Expiration Date - The final closing disclosure reflects a disbursement date prior to expiration of rescission period. The 3 day rescission period was not provided.  - Cleared - Cleared 02/17/2017 Issue Resolution: 1/4/2017:  Copy of the CD from Funding provided reflecting a disbursement date of XX/XX/XXXX.  The 3 day rescission period was provided, condition cleared. ; Missing E Consent Disclosure - Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclose for the borrowers.  Initial CD for both borrowers was e-signed on XX/XX/XXXX, however the E-Consent Disclosures provided in the file were not given until XX/XX/XXXX.  Provide evidence that consent was given by both borrowers to receive disclosures electronically prior to e-signatures. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/4/2017:  Evidence provided that borrowers e-consented on XX/XX/XXXX, condition cleared. ; Missing borrower’s documented Intent to Proceed - Provide an executed copy of the Intent to Proceed disclosure for the borrowers. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/4/2017:  Intent to proceed dated XX/XX/XXXX provided, condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves
314	per data	2	1	2	1	Missing Documentation - HELOC closure letter in the file is not signed.  Please provide a signed executed document in the loan file stating that the HELOC has been closed.  Additional conditions may apply.  - Rescind - Rescind 02/09/2017 Issue Resolution: 2/9/2017:  Audit has reviewed and determined that per the credit report, page 204, this HELOC was already reporting as a closed account, therefore a signed closure letter is not required, condition rescinded.  ; Missing income documentation - Missing YTD paystub dated within 90 days of Note date; Stub in file is dated XX/XX/XXXX and expired. - Cleared - Cleared 02/17/2017 Issue Resolution: 2/9/2017:  YTD paystub dated within 90 days of the Note date provided, condition cleared.  ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply - Cleared - Cleared 02/08/2017 Issue Resolution: 02/08/17: Lender provided the third party fraud tool. No outstanding issues noted. (CDA provided) Condition cleared.	General Compliance Exception - The Property Tax in section F is missing the taxing authority. The regulations that cover the disclosure of fees (1026.38(g)(1)) and 1026.38(g)(2)) require a payee to be listed. Please provide a letter of explanation to the borrower, and corrected CD within 60 days of consummation.  - Cured Post Close - Cured Post Close 02/21/2017 Issue Resolution: 02/08/17: Lender provided the corrected within CD 60 days of consummation, LOE to the borrower, and evidence of mailing. Condition cleared. Loan will be graded a B.; Revised LE provision timing requirement to consummation not met - The re-disclosed LE reflects a Date Issued of XX/XX/XXXX. Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to consummation. - Rescind - Rescind 02/17/2017 Lender Response: The last re-disclosed LE was dated XX/XX/XXXX. With the mailbox rule applied, the earliest the loan can close is XX/XX/XXXX which is when the borrower signed. The initial CD was disclosed on XX/XX/XXXX. The last re-disclosed LE was dated XX/XX/XXXX. With the mailbox rule applied, the earliest the loan can close is XX/XX/XXXX which is when the borrower signed. The initial CD was disclosed on XX/XX/XXXX. Issue Resolution: 02/08/17: Upon further review, the last disclosed LE was dated XX/XX/XXXX which is within 7 days of consummation. Condition rescinded. ; Missing borrower’s documented Intent to Proceed - The Intent to Proceed in the file is not signed. Please provide documented intent to proceed for the borrower and co borrower. Additional conditions may apply.   - Cleared - Cleared 02/08/2017 Issue Resolution: 02/08/17: Lender provided the borrower's documented intent to proceed. Condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 709; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 57.61%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #156 months excess reserves
285	per data	2	1	2	1	Missing Documentation - Missing lender cash flow analysis; guidelines require a cash flow analysis for use of business funds - Cleared - Cleared 12/23/2016 Issue Resolution: 12/23/2016:  Cash flow analysis provided, condition cleared. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply - Cleared - Cleared 01/04/2017 Issue Resolution: 1/4/2017:  Property profile reports provided verifying borrowers do not have any ownership in the properties in question, condition cleared.  12/23/2016:  Third party fraud report provided, however there are 5 properties appearing on page 30, 31, and 39, that states the borrowers may currently own that are not appearing on the Real Estate Owned section of the application, please clarify.	Missing Documentation - Missing funding Closing Disclosure; Closing wire of $XXX,XXX.XX differs from cash-to-close per final CD of $XXX,XXX.XX - Cleared - Cleared 02/17/2017 Issue Resolution: 12/23/2016:  CD from funding provided which matches the cash to close from the wire, condition cleared. ; Revised LE provision timing requirement to consummation not met - The re-disclosed LE reflects a Date issued of XX/XX/XXXX. Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7/3 specific business days prior to consummation.  The loan files does contain a tracking disclosure however; it does not reflect the name of document sent for the specific date.  - Cleared - Cleared 02/17/2017 Issue Resolution: 1/4/2017:  Lender provided a copy of E-Sign History verifying borrower E-Consented the re-disclosed documents on XX/XX/XXXX, which meets the 4 day rule for a re-disclosed LE prior to consummation.  No further documentation required, condition cleared.  12/23/2016:  Evidence not provided that the re-disclosed LE that was issued on XX/XX/XXXX was acknowledged by the borrowers 4 days prior to consummation. Borrowers do not meet the Mailbox Rule, condition remains.  ; Revised CD timing requirements not met for change in Loan Product (3 days before consummation) - Missing evidence of borrower receipt of initial Closing Disclosure 3 business days prior to consummation.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.  The loan file contains a tracking disclosure however; it does not reflect the name of the document sent to the borrowers. - Cleared - Cleared 12/23/2016 Issue Resolution: 12/23/2016:  Lender provided a copy of the eDisclosure History verifying borrowers eConsented the Initial CD documents 3 days prior to consummation, condition cleared. ; Missing corresponding W.L.S.P. for Initial L.E. in File DID SHOP Fee (Section C) - The WLSP corresponding to the initial LE dated XX/XX/XXXX is invalid. The service providers are listed along with the amount of charges that do not correspond the LE. - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 12/15/2016: Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be graded a B.; Missing Closing Disclosure / CD Not in File - The seller's Closing Disclosure is missing from the file.  - Cleared - Cleared 12/23/2016 Issue Resolution: 12/23/2016:  Seller CD provided, condition cleared. ; Closing Disclosure document error - The final Closing Disclosure in the file, Section E, Transfer Tax, Section F Homeowner's Insurance and Property Tax is missing the payee. The name should be of the person/entity ultimately receiving the payment. Please provide a corrected CD, and LOE to the borrower. Additional conditions may apply.  - Cured Post Close - Cured Post Close 12/23/2016 Issue Resolution: 12/23/2016:  Received post close CD reflecting the payees for the transfer tax, homeowners insurance, and property taxes, along with a copy of the notification of error, loan will be graded a B. ; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. The loan file contains a E Consent however; it is dated the same date of the Note and documents were E Consented as of # per the tracking disclosure.  Please provide E Consent disclosure prior to the Note date for the borrowers. - Cleared - Cleared 12/23/2016 Issue Resolution: 12/23/2016:  E-Consent received, condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 724; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 75%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #7.39 months excess reserves
194	per data	2	1	2	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided the third party fraud report. Variance for property value. Obtain a desktop appraisal review to verify property and appraisal accuracy. CDA provided. Condition cleared.	Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Missing evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/0816: Lender provided evidence of receipt of Initial Closing Disclosure within 3 days of consummation. Condition cleared. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file.  The credit report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.   - Cured Post Close - Cured Post Close 12/14/2016 Issue Resolution: 12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B.  Condition cleared.; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.  Please note that a letter of explanation to the borrower must also be issued.   - Cured Post Close - Cured Post Close 12/14/2016 Issue Resolution: 12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B. Condition cleared.; Closing Disclosure document error - The property taxes in section F of the final Closing Disclosure are missing the government entity and the Appraisal fee in section B is missing the service provider.  Please note that a letter of explanation to the borrower must also be issued.   - Cured Post Close - Cured Post Close 12/14/2016 Lender Response: 12/08/16; I'm not sure why this was rejected? See highlight Issue Resolution: 12/14/2016:  Post close CD provided reflecting the number of months collected and the government entity along with the notification of error, loan will be graded a B.  12/12/16: The corrected CD provided shows the government entity, however, the number of months collected on the same line is left blank. 12/08/16: Lender provided a copy of the corrected CD and LOE to the borrower. However the government entity is listed but missing the number of months. Condition maintained. ; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically.  The E Consent in the loan file is dated after the initial LE.  Provide E Consent disclosure for the borrowers prior to the initial LE. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared. ; Missing borrower’s documented Intent to Proceed - Missing the borrower's Acknowledgement of Intent to Proceed.  The loan file contains a document for the borrower's Intent to Proceed however; it was not acknowledged by the borrowers. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided the borrower's documented intent to proceed. Condition cleared.		CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.60%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.80%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808
207	per data	2	1	2	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 01/04/2017 Issue Resolution: 1/4/2017:  Property profile reports provided verifying borrowers have no ownership in the properties in question, condition cleared.  12/28/2016:  Third party fraud report provided, however there are 2 properties appearing on page 26 and page 31 that states the borrowers may currently own and are not appearing on the Real Estate Owned section of the application, please clarify.  ; Missing Evidence of HELOC Draw for the Past 12 Months - The subject loan is a rate/term refinance and is missing the past 12 months of draws for the HELOC.  Additional conditions may apply. - Cleared - Cleared 12/28/2016 Issue Resolution: 12/28/2016:  The most recent 12 month draw history provided, verifying no draws in the past 12 months were made, condition cleared. ; Missing 4506-T - Missing the initial 4506-T's for the borrowers.  The initial 4506-T's in the loan file are dated XX/XX/XXXX which is after the initial loan application date. - Rescind - Rescind 02/17/2017 Issue Resolution: 12/28/2016:  Audit has reviewed and determined that the Broker application date was XX/XX/XXXX.  An initial signed 4506-T dated XX/XX/XXXX was provided for both borrowers.  Broker gave the loan package to the Lender on XX/XX/XXXX, at which time the borrowers signed another 4506-T dated XX/XX/XXXX.  Investor guidelines require a signed 4506-T during the application process must be provided along with a signed 4506-T at closing.  Borrowers have met this requirement, therefore condition is rescinded due to the fact the information was provided in the initial loan file.	General Compliance Exception - Condition added 12/28/2016:  Received post close CD reflecting the borrower was only required to bring $XXX.XX to closing, however borrower brought $XXX.XX2 per wire transfer to title company located on page 376.   File did not contain a copy of the refund check for $XXX.XX back to the borrowers for overpayment, please provide.  - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 1/4/2017:  Copy of post close CD provided reflecting a $XX.XX refund of the credit report to the borrower, along with a copy of the notification of error, copy of check, and proof of delivery.  Also provide are copies of the refund checks to the borrower for $XX.XX and $XXX.XX which totals the $XXX.XX, loan will be graded a B.  ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Credit Report fee and Flood Certification fee in section B of the final Closing Disclosure reflect the incorrect service providers.  The Credit Report is paid to the Broker and not the actual service provider and the Flood Certification fee is paid to the incorrect provider reflected on the Flood Cert.  Please provide a LOE and confirmation to the borrowers. - Cured Post Close - Cured Post Close 12/28/2016 Issue Resolution: 12/28/2016:  Received post close CD reflecting the correct payees for the credit report and flood cert, along with a copy of the notification of error to the borrower, loan will be graded a B.  PLEASE NOTE:  Please see additional condition added requesting a copy of the refund check for overpayment of fees. ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE's in the loan file did not reflect a Credit Report fee and no resulting CoC for any subsequent disclosures.  The final CD reflects a Credit Report fee of $50 resulting in a $50 refund due for cure. - Cured Post Close - Cured Post Close 12/28/2016 Issue Resolution: 12/28/2016:  Received post close CD reflecting the Credit Report fee as paid by others and not as paid by the borrower, therefore no cure is required. Loan will be graded a B.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.72%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 731; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 31 months reserves
282	per data	2	2	2	1	Missing hazard insurance declaration - The hazard insurance declaration was effective as of XX/XX/XXXX which is dated after the Note.  Please provide a hazard insurance policy dated prior to the Note date.  Additional conditions may apply. - Override - Acknowledged 02/17/2017 Issue Resolution: 1/13/2017: Post close CD provided, verifying disbursement date was XX/XX/XXXX.  Investor is providing a blanket waiver for purchase transactions closed in the subject property State (California) where the effective date of the hazard insurance is after the Note date but on or prior to the transfer of funds date.  Final grade will be a B non-material on these waived exceptions. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply - Cleared - Cleared 01/13/2017 Issue Resolution: 1/13/2017:  Third party fraud report provided with all variances addressed, condition cleared.	Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The CD dated XX/XX/XXXX reflects an Appraisal fee of $1,500.00 with no resulting COC for any subsequent disclosures. The initial CD dated XX/XX/XXXX and Final CD reflects an Appraisal Fee of $1,575.00 resulting in a $75 refund due for cure.  - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 01/10/2017:  A RESPA Appraisal Fee charge cure noted on the final CD.  Condition cleared.  The loan will be rated a B for Fitch and A for all other agencies.; Missing Closing Disclosure / CD Not in File - Transaction is in what is considered a "dry funding state". Please provide the post close CD provided to the borrowers. Additional conditions may apply.  - Cured Post Close - Cured Post Close 02/21/2017 Issue Resolution: 1/13/2017:  Post close CD provided listing the payee for the Homeowner's insurance in Section F, along with a copy of the notification of error, this also confirms the fees from funding, loan will be graded a B. ; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,879.17 a month versus the calculated value of $1790.18; The lender used the incorrect amount of $191.67 for the Taxes versus the actual amount of $102.68 - Cured Post Close - Cured Post Close 01/10/2017 Issue Resolution: 01/10/2016: CD Estimated Taxes, Insurance & Assessments section is a non-material grade B for difference of $88.99. Loan will be rated a 'B' for all agencies. ; Closing Disclosure document error - The Homeowner's Insurance premium in section F of the final Closing Disclosure is missing the name of the service provider. - Cured Post Close - Cured Post Close 01/13/2017 Issue Resolution: 1/13/2017:  Post close CD provided listing the payee for the Homeowner's insurance in Section F, along with a copy of the notification of error, loan will be graded a B. ; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. The loan file contains a E Consent however, it is dated after the initial LE. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/23/2017:  E-Consent dated XX/XX/XXXX provided for both borrowers, condition cleared. 1/19/2017:  Intent to Proceed provided, however still pending evidence that borrowers gave their e-consent to received documents electronically on or prior to XX/XX/XXXX.  1/13/2017:  E-consent provided, however is dated XX/XX/XXXX, borrower e-signed documents on XX/XX/XXXX, need evidence that borrowers e-consented on or prior to XX/XX/XXXX. ; Missing borrower’s documented Intent to Proceed - Missing evidence of borrower's documented Intent to Proceed.  The loan file contains a Intent to Proceed however; it is not acknowledged by the borrowers. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/13/2017:  Intent to proceed dated XX/XX/XXXX provided, condition cleared. ; Missing seller’s Closing Disclosure - Missing seller's Closing Disclosure - Cleared - Cleared 01/13/2017 Issue Resolution: 1/13/2017:  Per compliance, ok to clear the finding with what the lender provided.  The CD does reflect the seller’s costs and now proof has been provided that the seller acknowledged receipt.  All seller CD requirements are met, condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 809; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 49.38%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with 2.17 months excess reserves
288	per data	2	1	2	1	Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply. - Cleared - Cleared 12/30/2016 Issue Resolution: 12/30/16: Lender provided the third party fraud report. No outstanding issues noted. Condition cleared. ; Missing Payoff Statement - Payoff Statement was not provided in the loan file. - Cleared - Cleared 12/30/2016 Issue Resolution: 12/30/16: Lender provided a copy of the payoff statement. Condition cleared.	Total of Payments is not accurate - Added 12/30/16: The post consummation CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX,  an over-disclosure of $XXX.XX. - Cured Post Close - Cured Post Close 12/30/2016 Issue Resolution: 12/30/16:  Non-material, observational finding, loan will graded a B. ; Funding occurred before RTC Expiration Date - The rescission period expired at midnight on XX/XX/XXXX, however the final Closing Disclosure reflects the loan disbursed on XX/XX/XXXX prior to the rescission expiration. - Cleared - Cleared 02/17/2017 Issue Resolution: 12/30/16: Lender provided the post consummation CD which shows the disbursement date after the expiration of the rescission period. Condition cleared.  ; Missing borrower’s documented Intent to Proceed - Provide an executed copy of the Intent to Proceed disclosure for the borrower. - Cleared - Cleared 12/30/2016 Issue Resolution: 12/30/16: Lender provided the borrower's documented intent to proceed. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.63%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 58.60 months reserves; Years on Job Borrower has 20 years on job
229	per data	2	2	1	1	Missing Documentation - Missing evidence the first 2 debts from the Liabilities section of the final 1003 were paid in full.  Please provide proof these debts were paid in full prior to the closing of the subject loan.  Additional conditions may apply. - Cured Post Close - Cured Post Close 12/20/2016 Issue Resolution: 12/20/2016:  Lender provided a post close CD reflecting both installment debts paid at closing in section K along with a copy of the notification of error, loan will be graded a B.   12/16/16: Lender provided post consummation CD showing debts paid in section H Other. They need to be reflected in Section K. Please provided a corrected CD and LOE to the borrower. Condition maintained. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 12/16/2016 Issue Resolution: 12/16/16: Lender provided a copy of the third party fraud report. No outstanding issues noted. Condition cleared.	General Compliance Exception - The Property Tax and Homeowners Insurance of the final Closing Disclosure are missing the name of the service provider and government entity. - Cleared - Cleared 12/16/2016 Issue Resolution: 12/16/16: Lender provided the corrected CD, and LOE to the borrower. Condition cleared.; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent Disclosure for the borrowers prior to the signing of the initial document. The E Consent in the loan file is dated after all documents were signed. - Cleared - Cleared 12/16/2016 Issue Resolution: 12/16/16: Lender provided evidence of the borrower’s consent to receive documents electronically for the initial documents. Condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 752; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24.5 months reserves; Years on Job  Borrower has 6 years on job per WVOE
306	per data	1	1	1	1	Missing Documentation - Evidence of Lender of Record Application Date is not provided in file.  - Cleared - Cleared 02/09/2017 Issue Resolution: 2/9/2017:  Third Party Origination Letter provided, verifying the Lender received the loan package from the broker on 1/4/2017, condition cleared. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply - Cleared - Cleared 02/09/2017 Issue Resolution: 2/9/2017:  Third party fraud report provided with all variances addressed, condition cleared.	Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Rescindable transactions require that the Closing Disclosure must be given separately to each consumer who has the right to rescind under TILA (see § 1026.23).  Although the Initial CD dated 0XX/XX/XXXX was mailed to the borrower, there is no evidence that a separate Initial CD was mailed to the co-borrower. - Cleared - Cleared 02/17/2017 Issue Resolution: 2/9/2017:  Lender provided a copy of their audit trail, verifying both the borrower and the co-borrower were each provided an initial closing disclosure, condition cleared.  ; Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C - The LE dated XX/XX/XXXX reflects no Rate lock Extension Fee and the final Closing Disclosure reflects a Lock Extension Fee in the amount of $877.50.  - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 02/06/2017:  The revised CD dated XX/XX/XXXX reflects a rate lock extension fee of $877.50 with corresponding COC provided.  No cure required.  Loan will be rated a B for Fitch and A for others. ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $625.00 with no resulting COC for any subsequent disclosures. The final CD reflects an Appraisal Fee of $745.00.  These fees are in a 0% tolerance section. Lender tolerance cure of $120.00 is required.    - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 02/06/2017:  The Final CD provided in the loan file reflects a tolerance cure of $120.00, which is sufficient.  Loan will be rated a B for Fitch and A for all other agencies.; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. The loan file contains a E Consent however; it is dated the same date of the Note. Please provide E Consent disclosure prior to the Note date for the borrowers. - Cleared - Cleared 02/17/2017 Issue Resolution: 2/13/2017:  Signed e-consent dated on/or prior to XX/XX/XXXX, condition cleared.  2/9/2017:  Lender provided the executed E Consent forms, however, is dated at closing. Please provide signed E Consent disclosures dated prior to or on XX/XX/XXXX, as e-signed documents dated this date were provided in the loan file.  ; Missing borrower’s documented Intent to Proceed - Provide an executed copy of the Intent to Proceed disclosure for the borrowers. - Cleared - Cleared 02/17/2017 Issue Resolution: 2/9/2017:  An executed copy of the Intent to Proceed dated XX/XX/XXXX provided, condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 65%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 74.70 months excess reserves
310	per data	1	1	1	1	Hazard Insurance Shortfall - The applicable underwriting guidelines required the subject property to be protected against loss from damage.  The hazard insurance coverage is insufficient. The hazard insurance declaration in file reflects $XXX,XXX in dwelling coverage with 125% replacement cost ($XXX,XXX) for total coverage of $XXX,XXX.  The hazard policy does not reflect guaranteed replacement cost and a replacement cost estimator was not provided in the file.  The loan amount is $XXX,XXX.  Please provide evidence of sufficient coverage. Additional conditions may apply. - Cleared - Cleared 02/17/2017 Issue Resolution: 2/10/2017:  Replacement Cost Estimator provided from the insurer verifying borrowers have sufficient coverage, condition cleared. ; Missing 1008 or Underwriter Approval - Missing the lender's Uniform Underwriting Transmittal and Summary (1008). - Cleared - Cleared 02/10/2017 Issue Resolution: 2/10/2017:  Lender's 1008 provided, condition cleared. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. - Cleared - Cleared 02/10/2017 Issue Resolution: 2/10/2017:  Third party fraud report provided with all variances addressed, condition cleared.	Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Missing evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation.  When factoring mailbox rule/resumed receipt, the timing requirement to consummation is not met.  - Cleared - Cleared 02/17/2017 Issue Resolution: 2/10/2017:  Audit trail provided verifying borrowers e-consented the initial CD on XX/XX/XXXX, timing requirement met, condition cleared. ; Missing Closing Disclosure / CD Not in File - Rescindable transactions require that the Closing Disclosure must be given separately to each consumer who has the right to rescind under TILA (see § 1026.23).  Missing the initial CD from the co-borrower and trust.  The initial CD in the loan file reflects the borrower's name and does not list the co-borrower or trust.   - Cleared - Cleared 02/17/2017 Issue Resolution: 2/10/2017:  Audit trail provided verifying borrowers e-consented the initial CD on XX/XX/XXXX, timing requirement met, condition cleared.  (Please note:  per compliance, only actual individuals will get and sign CD's and not Trusts); Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically.  The loan file contains an E Consent from the borrower's however; they were not signed prior to the first loan document. - Cleared - Cleared 02/17/2017 Issue Resolution: 2/10/2017:  E-Consent for both borrowers provided dated XX/XX/XXXX and XX/XX/XXXX respectively, condition cleared. ; Missing borrower’s documented Intent to Proceed - Missing the Borrower's Acknowledgement of Intent to Proceed.  Provide Intent to Proceed by the borrowers. - Cleared - Cleared 02/17/2017 Issue Resolution: 2/10/2017:  Borrowers Intent to Proceed dated XX/XX/XXXX provided, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of  25.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  727; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  24.50 months reserves
114	per data	2	2	1	1	Missing hazard insurance declaration - The hazard insurance policy in the loan file is not in effect until XX/XX/XXXX which is after the Note date. - Override - Acknowledged 01/13/2017 Issue Resolution: 11/07/216:  Exception granted for properties located in CA when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.	Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent disclosure the borrower. - Cleared - Cleared 11/11/2016 Issue Resolution: 11/11/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.
28	per data	1	1	1	1	Missing 4506-T - Missing initial 4506-T; Lender guidelines require an initial signed 4506-T at application and signed final 4506-T at closing - Cleared - Cleared 11/17/2016 Issue Resolution: 11/17/2016: The initial and final executed and dated 4506-T provided, condition cleared.	Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Title – Escrow Fee Sales Tax, Title – Lender’s Policy Sales Tax, Title – Lender’s Title Insurance and Title – Settlement Fee are reflected in section B of the final Closing Disclosure. The borrower shopped for their own title service provider and did not use the provider on the WLSP. The title service fees should be listed in section C of the CD. - Cleared - Cleared 11/21/2016 Issue Resolution: 11/21/16: Lender provided the corrected CD, and LOE to the borrower. Condition cleared.; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent  disclosure for the (borrower / co-borrower). - Cleared - Cleared 11/17/2016 Issue Resolution: 11/17/2016:  E Consent provided, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 35.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 7643; Reserves are higher than guideline minimum UW Guides require 12 months Subject reserves, loan qualified with 564 excess reserves
93	per data	2	2	1	1	Missing hazard insurance declaration - The effective date of the hazard insurance of XX/XX/XXXX is after the closing date. - Override - Acknowledged 01/13/2017 Issue Resolution: 10/08/2016:  Exception granted for properties located in the subject property state when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.	Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Title – Lender’s Title Insurance and Title – Settlement Fee are reflected in section B of the final Closing Disclosure. The borrower shopped for their own title service provider and did not use the provider on the WLSP. The title service provider fees should be listed in section C of the CD.  - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared; Missing E Consent Disclosure - Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclose for the borrowers.  - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the E consent disclosure for both borrowers. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.63%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763 ; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 38 months.
38	per data	2	1	2	1		Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The final Closing Disclosure reflects charges for Title-Reconveyance in Section B. The borrower selected their own service provider. Those fees should be reflected in section C. - Cured Post Close - Cured Post Close 11/07/2016 Issue Resolution: 11/7/2016:  Post close CD provided reflecting the removal of the Title-Re conveyance fee in section B along with the notification of error to the borrower. Loan will be graded a B.  (Note to file: the cash-back to the borrower reporting on the CD matches the cash-back on the final ALTA statement.)  ; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent  disclosure for the (borrower / co-borrower). - Cleared - Cleared 11/07/2016 Issue Resolution: 11/7/2016:  E-Consent for both borrowers provided, condition cleared.
198	per data	1	1	1	1	Document Error - Note and Mortgage reflect vesting that does not match Title.  - Rescind - Rescind 01/10/2017 Issue Resolution: 1/10/2017:  Audit has reviewed and determined that the vesting on the note and mortgage does match the title, therefore condition has been rescinded. ; Excessive DTI - Maximum DTI permitted 40% vs actual DTI 40.13%.   - Cleared - Cleared 01/11/2017 Issue Resolution: 1/11/2017:  Audit has reviewed and determined that dividend/interest income was not utilized when the qualifying income was determined.  When adding dividend/interest income to the qualifying income, the DTI is now reporting as 36.49%, which is within guidelines.  Condition cleared.  (Please note, the assets were also updated to reflect the use of the div/int income for 36 months) ; Missing 4506-T - Missing initial 4506-T; Per Lender guidelines, a signed 4506-T is required at application and at closing; Final 4506-T in file. - Cleared - Cleared 01/10/2017 Issue Resolution: 1/10/2017:  Initial signed 4506-T provided for both borrowers, condition cleared.			FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23.71%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #406 months excess reserves
37	per data	2	2	2	1	General Credit Exception - Missing terms of withdrawal for 401(k) plan. Term of withdrawal in file is for an IRA not the 401(k).  - Cleared - Cleared 01/13/2017 Issue Resolution: 12/5/16:  Per new information received regarding the withdraw terms, the employers 401K permits to take a hardship withdraw.  Per the 7/2/16 401K statement balance = $XXX,XXX.XX minus loan $XX,XXX.XX = $XX,XXX.XX @ 60% = XX,XXX.XX in reserves, which is sufficient, condition cleared. 11/14/2016:  Received withdrawal terms from the 3rd party account holder, not the employer, need evidence that the employer allows for hard ship withdraws, condition remains.  10/31/2016:  Per withdraw terms provided, borrower can only take out a loan for up to $50,000, borrower currently has a loan balance of $XX,XXX.XX, therefore only leaves $X,XXX.XX available.  File is short 9 months reserves $XX,XXX.XX + sufficient funds to cover the monthly revolving account in the amount of $X,XXX.  File must verify a total of $XX,XXX.XX in reserves. ; Missing Documentation - Missing PITI documentation for investment property listed on Schedule E of 2015 tax return or evidence the property was sold. Additional conditions may apply. - Cleared - Cleared 01/17/2017 Issue Resolution: 10/31/2016:  Copy of final certified settlement statement provided as evidence the property in question was sold, condition cleared. ; Missing asset documentation - Missing 2 consecutive monthly statements for 401K. Only XX/XX/XXXX statement is in file.  - Cleared - Cleared 01/17/2017 Issue Resolution: 10/31/2016:   2 consecutive monthly statements for 401K provided, condition cleared. ; Missing verbal verification of employment - Missing verbal verification of employment dated within 10 days of the note. VVOE in file is dated after the note. - Override - Acknowledged 11/14/2016 Issue Resolution: 11/14/2016: Audit has reviewed and determined that the VVOE is dated after the note date, however prior to funding, loan will be graded a B. 10/31/2016:  VVOE provided, however is dated after the Note date, per Investor Guidelines, the Verbal Verification of Employment (VVOE) or employment re-verification must be performed within 10 business days prior to the Note date for a salaried applicant, condition remains.  10/07/16: Lender provided the VVOE, however, it is not for our borrower. Condition maintained. ; Missing LOE - LOE for credit inquiries is not signed by the borrower. - Rescind - Rescind 10/31/2016 Issue Resolution: 10/31/2016:  Audit has reviewed and determined that the only credit inquires were from the lender, therefore a LOE was not required, condition rescinded.	Incorrect rescission model – Same lender refinance requires form H-9 - Incorrect rescission model. Same lender refinance requires form H-9. - Cured Post Close - Cured Post Close 01/13/2017 Issue Resolution: 10/31/2016:  Lender provided a H-9 form, notification of error, and proof of delivery.  The new H-9 right to cancel form expired at midnight on XX/XX/XXXX, therefore condition cleared.  Loan will be graded a B for Fitch and A for others. ; HUD Homeownership Counseling Disclosure not provided within 3 days of application - Missing HUD Homeownership Counseling Disclosure provided within 3 days of application.  - Cleared - Cleared 10/31/2016 Issue Resolution: 10/31/2016:   HUD Homeownership Counseling Disclosure provided and is dated within 3 days of application, condition cleared.  10/07/16: Lender provided the HUD Homeownership Counseling Disclosure however, it is not for our borrower. Condition maintained.  ; APR on Final Closing Disclosure is inaccurate in relation to previous Initial disclosure(s) – no evidence of further re-disclosure in file (APR < 0.125 variance –  Over disclosed) - Missing evidence of APR re-disclosure. The final Closing Disclosure reflects an APR of 3.923%. The prior Loan Estimate dated XX/XX/XXXX reflects an APR of 4.110%, which is a difference of -0.187% and exceeds allowable tolerance of 0.125% - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 09/29/2016: APR and Finance charges are considered accurate when they are overstated (§1026.38(o)(2).  Loan will be graded a B. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; FICO is higher than guideline minimum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; Years on Job Borrower has 18.2 years on job
29	per data	2	1	2	1	Missing Documentation - Missing executed letter that Home Equity Line of Credit is frozen and closed. - Cleared - Cleared 10/04/2016 Issue Resolution: 10/4/2016:  Signed Home Equity Line of Credit Closure letter provide, condition cleared.; Missing Balance Sheet - Missing 2016 Balance Sheet for Borrower's Schedule C sole proprietorship and partnership.  Per appendix Q, both a Balance Sheet and a P&L statement are required in order for the loan to be classified as a Qualified Mortgage. - Cleared - Cleared 01/13/2017 Lender Response: With regard to the conditions calling for P&L and Balance Sheet, please see the attached letter from the file explaining the business has been dormant for the past 2 years with no business related activity expected.  Please use this letter to clear Issue Resolution: 11/17/2016:  Satisfactory LOE provided along with the YTD 2016 P&L and Balance Sheet for borrowers Schedule C income, condition cleared.  11/3/2016:  Please clarify why a 2016 Balance Sheet was provided for the borrowers LLC that was supposed to have been dissolved on XX/XX/XXXX? Also still pending is a YTD 2016 P&L and Balance Sheet for the Borrowers Schedule C business.   10/4/2016:  Audit has reviewed and determined that the LLC was dissolved on XX/XX/XXXX per page 384 and LOE provided, therefore a P&L and Balance Sheet is not required for the LLC, however a YTD 2016 P&L and Balance Sheet is required for the Borrowers Schedule C business. ; Missing YTD Profit & Loss - Missing 2016 YTD Profit & Loss Statement for Borrower's Schedule C sole proprietorship and partnership.  Per appendix Q, both a Balance Sheet and a P&L statement are required in order for the loan to be classified as a Qualified Mortgage. - Cleared - Cleared 01/13/2017 Lender Response: With regard to the conditions calling for P&L and Balance Sheet, please see the attached letter from the file explaining the business has been dormant for the past 2 years with no business related activity expected.  Please use this letter to clear Issue Resolution: 11/17/2016:  Satisfactory LOE provided along with the YTD 2016 P&L and Balance Sheet for borrowers Schedule C income, condition cleared. 11/3/2016:   2014,2015 and 2016 YTD P&L for the borrowers LLC was provided, which was already included in the original loan file, still pending is a YTD 2016 P&L and Balance Sheet for the Borrowers Schedule C business.  10/4/2016:  Audit has reviewed and determined that the LLC was dissolved on XX/XX/XXXX per page 384 and LOE provided, therefore a P&L and Balance Sheet is not required for the LLC, however a YTD 2016 P&L and Balance Sheet is required for the Borrowers Schedule C business.	Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for. - The service provider list in file is an old RESPA service provider list and does not list the individual "services" associated with each provider. It is not the service provider list that is under form H-27 in the rule. The WLSP is itself a violation and it is confusing to consumers because it has text that relates to the GFE. - Cured Post Close - Cured Post Close 09/26/2016 Issue Resolution: 09/26/2016:  Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Appraisal Review Fee in section B of the final Closing Disclosure reflects the service provider as "Other." - Cleared - Cleared 11/17/2016 Issue Resolution: 10/4/2016:  Post close CD from disbursement provided along with a copy of the notification of error to the borrower.  This CD reflects the payee for appraisal review in section B, condition cleared. ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated 08/23/2016 reflects no Title – Holdback Fee or Title – Mobile Notary with no resulting CoC for any subsequent disclosures.  The final CD reflects a Title – Holdback Fee of $60.00. and a Title – Mobile Notary Fee of $175.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $235.00 is required.   - Cured Post Close - Cured Post Close 10/04/2016 Issue Resolution: 10/4/2016:  Post close CD from disbursement provided along with a copy of the notification of error to the borrower.  This CD reflects the payee for appraisal review in section B, contact info for the settlement agent completed, and this CD reflects no charge of the notary fee, therefore the $139.50 tolerance cure is sufficient, loan will be graded a B for Fitch and A for others.  09/26/2016:  The final closing disclosure reflects a post close tolerance cure of $139.50, which is insufficient.  Refund of $95.50 to borrower is required.  ; Lender Refund to Cure insufficient to cover overages in C.D. Services Borrower DID NOT SHOP Fee - Section B (Undisclosed and Under Disclosed) - The LE dated 08/23/2016 reflects no Title – Holdback Fee or Title – Mobile Notary with no resulting CoC for any subsequent disclosures.  The final CD reflects a Title – Holdback Fee of $60.00. and a Title – Mobile Notary Fee of $175.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $235.00 is required.   - Cured Post Close - Cured Post Close 10/04/2016 Issue Resolution: 10/4/2016:  Post close CD from disbursement provided along with a copy of the notification of error to the borrower.  This CD reflects the payee for appraisal review in section B, contact info for the settlement agent completed, and this CD reflects no charge of the notary fee, therefore the $139.50 tolerance cure is sufficient, loan will be graded a B for Fitch and A for others.  09/26/2016:  The final closing disclosure reflects a post close tolerance cure of $139.50, which is insufficient.  Refund of $95.50 to borrower is required. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number and/or State License number of the Settlement Agent is missing. - Cleared - Cleared 10/04/2016 Issue Resolution: 10/4/2016:  Post close CD from disbursement provided along with a copy of the notification of error to the borrower.  This CD reflects the contact info for the settlement agent completed, condition cleared		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 720; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 29.90 months reserves
85	per data	2	2	2	1	Cash out amount greater than guideline maximum - Condition added 10/24/2016:  Borrowers received greater than $2000 back at closing by $XXX.    They brought $XXX to closing but received $XXXX back, maximum permitted $2000. - Cured Post Close - Cured Post Close 12/12/2016 Lender Response: 11/30/16: Copy of $XXX check from borrower back to escrow for the overage in cash back, pay history to reflect the principal reduction & updated final settlement statement to show cash back within limits.  Issue Resolution: 12/12/16: Lender provided a corrected CD, LOE and evidence of mailing to the borrower. Exception granted by lender for > 60 days. Loan will be graded a B. 12/9/2016:  Lender provided a copy of a check for $XXX from the borrower made payable to the Title Company for the overage in cash back that they received at closing.  The Lender also provided their pay history to reflect the principal reduction of $XXX & updated final settlement statement as evidence the subject transaction was kept as a rate/term refinance.  Please provide updated CD reflecting the principal reduction along with a copy of the notification of error, once received, loan will be graded a B.  12/01/16: Lender provided the copy of the $XXX check from borrower back to escrow for the overage in cash back, pay history to reflect the principal reduction & updated final settlement statement. Investor will not permit a principal reduction, therefore they will not purchase the loan.  Condition maintained. ; Missing copy of title - Missing copy of the prelim title for $XXX,XXX.  Prelim in file does not reflect the correct amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy. - Cleared - Cleared 01/13/2017 Issue Resolution: 10/24/2016:  Received copy of the title commitment verifying the lenders coverage equal to the loan amount, condition cleared. ; Missing LOE - Condition added 10/20/2016: Please provide satisfactory explanation as to why the appraisal dated XX/XX/XXXX and the re-certification of value dated XX/XX/XXXX were preformed prior to the application date of XX/XX/XXXX.      - Cleared - Cleared 01/17/2017 Issue Resolution: 10/24/2016:  Received satisfactory letter of explanation from the lender explaining what the appraisal was ordered prior to the application date.  (borrower applied for a refinance in XXXX of XXXX, however withdrew the application, then decided to proceed)	ECOA Non-Compliant: Appraisal disclosure not provided within 3 days of application. - The appraisal in file is dated XX/XX/XXXX with a recertification dated XX/XX/XXXX which are both dated prior to the initial LE and were not provided within 3 days of the initial LE.  Additional conditions may apply.   - Rescind - Rescind 01/17/2017 Lender Response: 10/19/2016:  the initial disclosures XX/XX were provided within 3 days of the initial 1003 XX/XX/XXXX.   Issue Resolution: 10/20/2016:  Audit has reviewed and determined that the initial disclosures were provided within 3 days of the initial application date, therefore the condition has been rescinded, however please see additional condition added.    ; Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for. - The service provider list in file is an old RESPA service provider list and does not list the individual "services" associated with each provider. It is not the service provider list that is under form H-27 in the rule. The WLSP is itself a violation and it is confusing to consumers because it has text that relates to the GFE.  - Cured Post Close - Cured Post Close 10/14/2016 Issue Resolution: 10/13/2016:  Services provided on WLSP were not itemized. Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Title - Notary fee are reflected in section B of the final Closing Disclosure.  The borrower shopped for their own title service provider and did not use the provider on the WLSP.  The title service provider should be listed in section C of the CD. - Cleared - Cleared 10/24/2016 Issue Resolution: 10/24/2016:  Post close CD provided moving the notary fee from section B to section C along with a copy of the notification of error, condition cleared. ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Re-Inspection fee of $125 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal Re-Inspection fee of $175 resulting in a $50 refund due for cure. - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 10/11/2016:  The final CD reflects the $50 Appraisal Re-Inspection Charge cure.  Condition cleared.  The loan will be rated a B for Fitch and A for others. ; Total of Payments is not accurate - Condition added 10/24/2016:  The CD dated XX/XX/XXXX reflected total of payments as $XXX,XXX. The actual total of payments is XXX,XXX, an over-disclosure of $XXX. - Cured Post Close - Cured Post Close 01/13/2017 Issue Resolution: 10/24/2016:  Over-disclosure of TOP is non-material, loan will be graded a B.  ; Total Interest Percentage (TIP) is not accurate. - Condition added 10/24/2016:  The CD dated XX/XX/XXXX reflects Total Interest Percentage (TIP) of 77.090% vs actual TIP of 77.040% with a difference of 0.050% over-disclosed.  Maximum permitted .001%.  - Cleared - Cleared 01/13/2017 Issue Resolution: 11/01/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing. - Cleared - Cleared 10/24/2016 Issue Resolution: 10/24/2016:  Post close CD provided showing the contact information completed for the settlement agent along with a copy of the notification of error, condition cleared. ; Funding occurred before RTC Expiration Date - The rescission period is through midnight of XX/XX/XXXX and the final Closing Disclosure reflects a disbursement date of XX/XX/XXXX. - Cured Post Close - Cured Post Close 01/13/2017 Issue Resolution: 10/13/2016:  A Post Close certified HUD-1 from the lender is in the loan file to reflect the disbursement date of XX/XX/XXXX.  Condition cleared.  The loan will be rated a B for all agencies.; Closing Disclosure document error - The final Closing Disclosure reflects a disbursement date of XX/XX/XXXX and a Certified HUD-1 in the loan file reflects a disbursement of XX/XX/XXXX.  Please provide a corrected Post Close CD with the correct disbursement date and cash to close. - Cleared - Cleared 01/13/2017 Issue Resolution: 10/24/2016:  Received post close CD along with the lenders copy of their internal screen shot showing the loan did not disburse until XX/XX/XXXX, along with a copy of the notification of error and proof of delivery, condition cleared, however please see additional condition added for cash back to borrower exceeds the $2000 permitted.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves
177	per data	2	1	2	1	Missing verbal verification of employment - Verbal verification of employment dated XX/XX/XXXX is expired. Per lender guideline's the VVOE must be dated 10 business days prior to the note date.  - Cleared - Cleared 01/13/2017 Issue Resolution: 11/21/16: VVOE provided has information current as of XX/XX/XXXX. Condition cleared.	Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The HOA Certificate Fee is reflected in section B of the final Closing Disclosure. The HOA Certificate Fee should be listed in section H of the CD. - Cured Post Close - Cured Post Close 11/16/2016 Issue Resolution: 11/15/2016: Lender removed the HOA Certificate Fee on the post close CD. Loan will be rated a B.; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $1495.00 with no resulting CoC for any subsequent disclosures. The Final CD dated reflects an Appraisal Fee of $1650.00 resulting in a $155.00 refund due for cure.   - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 11/15/2016: Lender provided a $155.00 Lender Credit on the Final CD. Loan will be rated a B for Fitch and A for others.  ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure  Contact Information section is incomplete.  The License Number of the Settlement Agent is missing. - Cleared - Cleared 11/23/2016 Issue Resolution: 11/23/2016 Lender provided re-disclosed CD, LOX and evidence of method of delivery. Condition cleared.; Closing Disclosure document error - On Final CD, Section F, Property Taxes is missing the government entity.  - Cured Post Close - Cured Post Close 12/05/2016 Issue Resolution: 11/23/2016 Lender provided re-disclosed CD, LOX and evidence of method of delivery. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 19.582%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 72.33  months reserves
176	per data	2	1	2	1		Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Title - Tax Holdback Fee is reflected in section B of the final Closing Disclosure.  The borrower shopped for their own title service provider and did not use the provider on the WLSP.  The title service fee should be listed in section C of the CD. - Cleared - Cleared 11/01/2016 Issue Resolution: 10/10/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $525.00 and HOA Certificate Fee of $150.00 with no resulting CoC for any subsequent disclosures. The final CD reflects an Appraisal Fee of $2,200.00 resulting in a $1,675.00 refund due for cure and the Post Closing CD reflects an HOA Certificate Fee of $165.00 resulting in a $15.00 refund due for cure.  Lender credit of $1,707.80 for increase in Closing Costs above legal limit is sufficient tolerance cure. - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 10/25/2016: Post Closing CD provided in the file shows a sufficient tolerance cure in the amount of $1,707.80. Loan will be graded a B for all agencies. Condition cleared.; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number of the Borrowers Real Estate Broker, Sellers Real Estate Broker and Settlement Agent is missing. - Cleared - Cleared 11/01/2016 Issue Resolution: 10/10/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.; Closing Disclosure document error - The HOA Certificate Fee in Section B of the final Closing Disclosure is missing the payee.  - Cured Post Close - Cured Post Close 10/25/2016 Issue Resolution: 10/25/2016: Corrected post close CD in file reflects missing payee. Loan will be graded a B for all agencies. Condition cleared.	570 - Review Appraisal Missing - A CDA report was not provided. - Cleared - Cleared 11/01/2016 Issue Resolution: 11/1/16: CDA reflecting a value of $XXX,XXX which is a -0.0% variance. Condition Cleared.
115	per data	2	2	1	1	Missing Permanent Resident Alien Card - Missing Permanent Resident Alien Card. Additional conditions may apply. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the borrowers permanent resident alien card. No outstanding issues noted. Condition cleared.  ; Missing Purchase Contract - Missing purchase contract. Additional conditions may apply. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the complete signed purchase contract for the subject property. Condition cleared. ; Missing LOE - Letter of Explanation for late payments is not signed/dated by the borrower. - Cured Post Close - Cured Post Close 10/24/2016 Issue Resolution: 10/24/2016:  LOE signed post close, loan will be rated a B. ; Failure to Provide Critical Documentation - Credit supplement or letter from creditor reflecting that the liabilities listed #3, #4 & #5 on page 2 of the final loan application were closed.  Additional conditions may apply. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the credit supplement reflecting that the liabilities listed #3, #4 & #5 on page 2 of the final loan application were closed. Condition cleared.	Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Appraisal Review fee in section B of the final Closing Disclosure is missing the name of the service provider.  Additionally, the Title Fees are reflected in section B of the final Closing Disclosure.  The borrower shopped for their own Title Fees and did not use the provider on the WLSP.  The Title Fees should be listed in section C of the CD.  Please note that a letter of explanation to the borrower must also be issued. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $625.00 and a Credit Report Fee of $40.00 with no resulting CoC for any subsequent disclosures. The Final CD dated reflects an Appraisal Fee of $825.00 and a Credit Report Fee of $43.00 resulting in a $205.00 refund due for cure.   - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: Final CD shows a sufficient tolerance cure in the amount of $205.00. Loan will be graded a B for Fitch and A for others. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The Address of the Borrower’s Real Estate Broker and Seller’s Real Estate Broker and the NMLS License Number Settlement Agent is missing. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.; Closing Disclosure document error - The HOA Transfer Fee and Notary Fee in section H of the final Closing Disclosure does not reflect the name of the payee.  Please note that a letter of explanation to the borrower must also be issued. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 705; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.26 months reserves; Years on Job Borrower has 8 years on job
294	per data	1	1	1	1	Missing final application (1003) - Final signed application was not provided in the file. - Cleared - Cleared 01/25/2017 Issue Resolution: 1/25/2017:  Final signed application provided, condition cleared. ; Missing VOR - Missing VOR reflecting 24 rental payment history with 0x30 late payments. - Rescind - Rescind 01/25/2017 Issue Resolution: 1/25/2017:  Audit has reviewed and determined that per Investor Guidelines, only 12 months most current rental history is required, which has been already provided in the original loan file located on page 287, therefore condition has been rescinded.			DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 787; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23.60 months reserves
74	per data	2	1	2	1		Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for. - Missing "valid" WLSP.  The WLSP in file refers to the GFE which is for Pre-TRID use. - Cured Post Close - Cured Post Close 10/06/2016 Issue Resolution: 10/6/2016: WLSP referencing a GFE is non-material. Loan will be graded a B for all agencies.; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete. The NMLS ID or License ID of the Buyers Real Estate Broker, NMLS ID or CA License ID of the Sellers Real Estate Broker and License ID of the Settlement Agent are missing. - Cleared - Cleared 10/06/2016 Issue Resolution: 10/6/2016:  Post close CD provided updating the settlement agent ID number along with the notification of error, condition cleared.		DTI is lower than guideline maximum DTI is 27% GL allow 38%; Reserves are higher than guideline minimum 59 verified months reserves; Years on Job 6 years in same feild
284	per data	2	2	2	1	General Credit Exception - Credit does not meet minimum #3 open trade-line requirement for mortgage history less than 12 months per lender guidelines - Override - Acknowledged 02/17/2017 Issue Resolution: 01/10/2017 Exception granted by client based on strong compensating factors. Condition waived. Final grade will be a "B". ; General Credit Exception 2 - Credit does not meet minimum 12 month history requirement for less than #3 open trade-lines per lender guidelines - Override - Acknowledged 02/17/2017 Issue Resolution: 01/10/2017 Exception granted by client based on strong compensating factors.Condition waived.  Final grade will be a "B". ; Missing rate lock verification - Missing rate lock verification; initial rate lock expired prior to issuance of initial CD; HOEPA disclosure reflects new rate lock and reduction to discount points prior to closing on XX/XX/XXXX with revised discount points disclosure.  - Cleared - Cleared 02/17/2017 Lender Response: 12/14/2016:  This loan was re-locked on XX/XX/XXXX.   The costs to the borrower were reduced and a revised lock agreement was not provided to show the final lock expiration date because the pricing was not affected more that .125%.  Issue Resolution: 12/16/2016:  Per Compliance, when the rate lock expires, there is no requirement to re-disclose.  Only need to re-disclose if they relock and it triggers a new 3 day wait due to changes in APR by more than .125%, PPP added, or changes in loan terms.  In this case, none of these situations occurred, therefore condition cleared. ; Missing 4506-T - Missing 4506-T for business returns. - Override - Acknowledged 02/17/2017 Issue Resolution: 01/10/2017: Post-close 4506-T for both businesses provided. Client approved exception to accept 4506-T signed post close. 4506-T is not an Appendix Q required document. File contains 2 years business & personal tax returns, business license, verbal verification of employment, all obtained pre-consummation and satisfies all appendix Q requirements. Condition cleared. Final grade will be a B. 12/30/16: Lender provided a copy of the 4506-T's for the businesses signed at application. Please provide the 4506-T's signed at closing. Condition maintained. ; Missing Executed Personal Tax Returns - Appendix Q, requires signed personal and business tax returns for self-employed borrowers. The tax returns in the file are not executed. Loan is considered non QM compliant, as proof that signed/dated return was in the lender’s possession at or before consummation, cannot be verified”. - Cleared - Cleared 02/17/2017 Issue Resolution: 01/5/17: Lender provided the 2014 and 2015 signed pages of the personal tax returns and the partnership, signed at closing. Signed pages of the 2014 and 2015 tax returns for the S Corp. already in the file. All required appendix Q documents obtained pre-consummation.  Condition cleared.	Ability to Repay Non-Compliant:  Credit History does not meet guideline requirements - 9 months Mortgage history. No active or open trade lines. - Cleared - Cleared 02/17/2017 Issue Resolution: 01/10/2017 Exception granted by client based on strong compensating factors. ATR condition cleared. ; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure lists the Estimated Taxes, Insurance and Assessments as $240.10 a month versus the calculated value of $611.25. The lender did not include Hazard Insurance of $65.66 and used $95.09 for the Taxes versus the Estimated amount of property taxes of $384.59 for recent construction per file email. - Cured Post Close - Cured Post Close 01/24/2017 Issue Resolution: 1/24/2017:  Audit has reviewed and determined this condition should have been cleared post close with a grade of a B.  12/30/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.12/23/2016:  Audit has reviewed and determined the calculated value should be $595.25. ($384.59 taxes + $65.66 Ins + $145 HOA = $595.25). Also please make sure the box is check off for the homeowners insurance and “no” for escrow. An updated CD and copy of the notification of error is required.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 128 months excess reserves
150	per data	1	1	1	1	Missing 4506-T - Missing initial signed 4506T; Investor guidelines required a signed 4506T at application and final at closing. - Cleared - Cleared 10/27/2016 Issue Resolution: 10/27/2016:  Initial signed 4506-T provided for both borrowers, condition cleared.  ; Assessor's Parcel Number is not consistent between Appraisal, Title, and/or Mortgage. - Assessor's parcel number is not consistent between Appraisal and Mortgage. - Cleared - Cleared 10/27/2016 Issue Resolution: 10/27/2016:  Audit has reviewed and determined that the number appearing on the appraisal is the parcel number and the number appearing on the mortgage is the account number, this can be verified on Certificate of Taxes due on page 458, both numbers are acceptable, no further documentation required, condition cleared.	Missing Special Information Booklet / Home Loan Toolkit - Missing Home Loan Toolkit and evidence of issuance within 3 days of application. - Cleared - Cleared 10/27/2016 Issue Resolution: 10/27/2016:  Documentation provided verifying that the Home Loan Toolkit was provided within 3 days of application, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 22.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 33.40 months reserves
292	per data	2	2	2	1	Hazard Insurance Shortfall - The applicable underwriting guidelines required the subject property to be protected against loss from damage.  The hazard insurance coverage is insufficient. The hazard insurance declaration in file reflects $XXX,XXXX in dwelling coverage with 120% replacement cost ($XXX,XXX) for total coverage of $XXX,XXX.  The hazard policy does not reflect guaranteed replacement cost and a replacement cost estimator was not provided in the file.  The loan amount is $XXX,XXX and replacement cost new from the appraisal is $XXX,XXX which reflects a $XXX,XXX coverage shortfall. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/16/2017:  Replacement cost estimator provided in the loan file from the property insurer, page 67, verifying replacement cost to be $XXX,XXX, which equals the dwelling coverage, therefore condition cleared.  ; Missing hazard insurance declaration - The effective date of the hazard policy is dated XX/XX/XXXX, which is after the Note date. - Override - Acknowledged 02/17/2017 Issue Resolution: 1/16/2017:  Exception granted by client for properties located in the subject State when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.	Total of Payments is not accurate - The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX. - Cured Post Close - Cured Post Close 01/16/2017 Issue Resolution: 1/16/2017:  TOP over-disclosed, non-material, loan will be graded a B.	General Property Exception 1 - Appraisal report reflects the subject address incorrectly; Please provide revised appraisal with corrected subject address.  - Cleared - Cleared 01/24/2017 Issue Resolution: 1/24/2017:  Updated appraisal report provided reflecting the correct property address, condition cleared. ; General Property Exception 2 - CDA report reflects the subject address incorrectly; Please provide revised CDA Report with corrected subject address.  - Cleared - Cleared 01/24/2017 Issue Resolution: 1/24/2017:  Updated CDA report provided reflecting the correct property address, condition cleared.	DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.56%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 744; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #5.9 months excess reserves
210	per data	2	1	2	1	Missing asset documentation - File is missing the terms of withdrawal for the borrower's 403(b)/401(a)plan. Additional conditions may apply.  - Cleared - Cleared 12/22/2016 Issue Resolution: 12/22/2016:  Withdrawal terms provided, maximum withdrawal permitted is a $50K loan, reserves have been adjusted to reflect this.  (Hardship only permitted on Qualified Rollover Accounts, in which according to the statement in file, the borrower does not have a rollover account)  Sufficient reserves still verified, condition cleared.	General Compliance Exception - The final CD, in section H under Title-Owner’s Title Insurance, is missing the word Optional.  Since it is a premium related to the issuance of the owners title insurance it should also have the parenthetical description “(optional)” at the end of the cost label. - Cured Post Close - Cured Post Close 12/22/2016 Issue Resolution: 12/22/2016:  Post close CD provided reflecting optional for the owners title insurance in Section H, along with a copy of the notification of error.  Loan will be graded a B. ; General Compliance Exception 2 - The subject loan was funded in a dry funding state.  Final settlement statement in file indicates a cash required to close of $XX,XXX vs the final CD which reflects a cash to close of $XX,XXX with a discrepancy of $XXX.XX. - Rescind - Rescind 12/22/2016 Lender Response: 12/21/2016:  The final SASS shows $XX,XXX to close, And -0- cash back, We are not finding the SASS showing $XX,XXX but maybe we are missing it. Issue Resolution: 12/22/2016:  Audit has reviewed and determined that the final CD located on page 6, states borrower is to bring $XX,XXX to closing in which this amount coincides with the final ALTA statement located on page 21, therefore this condition is not valid and has been rescinded.  ; Missing Changed Circumstance form - Loan amount increased from $XXX,XXX on XX/XX/XXXX to  $XXX,XXX on XX/XX/XXXX. COC in file does not disclose this information.  - Cleared - Cleared 01/13/2017 Issue Resolution: 12/22/2016:  Changed of Circumstance form provided reflecting the increase in loan amount, condition cleared.		DTI is lower than guideline maximum 24.61% compared to 43%; FICO is higher than guideline minimum 772 compared to 700; Years in Field 12 years
195	per data	1	1	1	1	Missing copy of title - Missing copy of the prelim title for $XXX,XXXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.) - Cleared - Cleared 01/17/2017 Issue Resolution: 11/22/2016 Preliminary title reflecting coverage of $XXX,XXXX provided. Condition cleared.	Missing Changed Circumstance form - Missing corresponding COC for LE dated XX/XX/XXXX as the loan amount has increased from $XXX,XXX to XXX,XXX. Appraisal fee increased from $500.00 to $650.00.  The file is missing evidence of a valid change of circumstance. - Cleared - Cleared 01/17/2017 Issue Resolution: 11/22/2016 Valid COC provided, documenting reason for increase in loan amount and appraisal fee. Condition cleared. ; Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C - The Origination Charges in Section A are subject to 0% variance.  LE dated XX/XX/XXXX does not reflect a Investor Review Fee with no resulting COC for any subsequent disclosures.  Final CD reflects an Investor Review Fee of $250.00 for a variance/refund required of $250.00. - Cleared - Cleared 01/17/2017 Issue Resolution: 11/17/2016:  Copy of the Change of Circumstance dated XX/XX/XXXX adding the $250 Investor Review Fee provided, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 22.371%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 46.82  months reserves
205	per data	1	1	1	1	Missing Balance Sheet - Missing 2016 Balance Sheet for Borrower's Schedule C Sole Proprietorship.  Per appendix Q, both a Balance Sheet and a P&L statement are required; in order for the loan to be classified as a Qualified Mortgage. - Cleared - Cleared 01/20/2017 Issue Resolution: 1/20/2017:  Balance sheet provided. Statement reflects no liabilities that would effect the income used to qualify, condition cleared.	Missing E Consent Disclosure - E-Consent provided in the file is for the primary borrower.  There is no evidence in the file that e-consent was given by the co-borrower.  E-Consent Disclosure for the co-borrower must be provided. - Rescind - Rescind 01/20/2017 Issue Resolution: 1/20/2017:  Audit has reviewed and determined that none of the documents that were provided in the loan file were e-signed, they all have wet signatures, therefore an e-consent is not required, condition rescinded.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.68%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.40 months reserves
31	per data	1	1	1	1	Missing income documentation - The Business license in the loan file reflects the Co-Borrower's business is inactive however; a letter from the CPA reflects the Co-Borrower's business is active.  Provide proof that the Co-Borrower's business license was active as of the note date. - Cleared - Cleared 10/12/2016 Issue Resolution: 10/12/2016:  Received 1003 removing co-borrowers income along with a LOE from the lender verifying the co-borrowers business could not be verified in a timely manner, therefore they removed the income which was not needed to qualify, condition cleared.  10/5/2016:  Received DU Findings removing co-borrowers income, however please provide updated 1003 removing the co-borrowers income along with a letter of explanation as to why the income was removed.  09/28/16: Documents provided do not address this condition. Condition maintained. ; Missing HUD-1 From Sale of Previous Property - Missing CD from sale of exiting property and proof of receipt of funds. Additional conditions may apply. - Cleared - Cleared 01/13/2017 Issue Resolution: 8/31/2016:  Fully executed settlement statement dated XX/XX/XXXX provided netting $XXX,XXX.XX, condition cleared. ; Missing LOE - LOE for homeowners association dues does not list the property address.  Please provide an address the HOA letter belongs to. - Cleared - Cleared 09/07/2016 Issue Resolution: 9/7/2016:  Received letter from borrower explaining the HOA fees were for their departing party which sold, condition cleared. ; Missing 4506-T - Missing the initial and final 4506-T for the Borrower, initial 4506-T for the Co-Borrower and initial 4506-T for the Co-Borrower's business. - Cleared - Cleared 09/22/2016 Issue Resolution: 09/22/16: Received the initial and final 4506-T for the borrower and the initial 4506-T for the co-borrower. Condition cleared. 8/31/2016: Received initial 4506-T for the co-borrowers business, still pending the initial and final 4506-T for the borrower and the initial 4506-T for the co-borrower.	HUD Homeownership Counseling Disclosure not provided within 3 days of application - Added 09/06/2016:  The HUD Homeownership Organization Counseling Disclosure and the list of agencies are required. Missing the list of agencies.  - Cleared - Cleared 09/07/2016 Issue Resolution: 9/7/2016:  The HUD Homeownership Organization Counseling Disclosure and the list of agencies provided, condition cleared. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number/License Number of the Sellers Real Estate broker is missing. - Cleared - Cleared 09/07/2016 Issue Resolution: 9/7/2016:  Received post close CD reflecting the License Number for the Sellers Real Estate Broker along with the notification or error, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.986%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 745; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  164.04 months reserves
186	per data	1	1	1	1		Missing HUD Homeownership Organization Counseling Disclosure - The loan file is missing a copy of the HUD Homeownership Organization Counseling Disclosure and list of options.  There is a tracking disclosure in the file this was sent to the borrower however; the actual document is missing.  Please provide the disclosure and list of companies. - Cleared - Cleared 12/01/2016 Issue Resolution: 12/01/16: Lender provided the HUD Homeownership Organization Counseling list of agencies dated within 3 days of the application date. Condition cleared. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Flood Cert Fee and credit report fee was not reflected in section B of the Closing Disclosure despite evidence of a flood cert and credit report in the file.  The Flood Cert Fee and credit report fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.   - Cleared - Cleared 12/13/2016 Lender Response: 11/30/16: Expenses for credit reports and flood certifications are paid on bulk invoices, and are not allocated to individual loans. Issue Resolution: 12/7/20106 Upon further investigation it has been determined that the attestation provided is sufficient to clear the finding. Even though there is an invoice in the file, this is not necessarily what was charged for the specific transaction.  12/6/2016: Escalated to compliance for review, will advise as soon as possible.  12/01/2016  Please verify Lender is under a contract with the vendor to provide credit reports/flood certs at a set rate per month and the rate is not dependent upon the number of credit reports/flood certs that are requested and provided, or a corrected CD within 60 days of consummation and LOE to the borrower. Condition maintained.  ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The GA License ID for the Borrowers and Sellers Real Estate Brokers are missing.  Please provide a letter of explanation to the borrower and confirmation of delivery. - Cleared - Cleared 12/09/2016 Issue Resolution: 12/09/16: Lender provided the corrected CD within 60 days of consummation and LOE to the borrower addressing realtor contact details. Condition cleared.12/06/2016:  The notification of error that was provided does not explain this correction made, please provide updated notification of error explaining the license number for the buyers and sellers real estate brokers were added.  12/01/16: Lender provided the corrected CD, however missing the LOE to the borrower. Condition maintained.
165	per data	2	1	2	1	Illegible Documentation - Letter of explanation page 107 is illegible. Additional conditions may apply. - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/2016:  Legible copy of the LOE provided, condition cleared.  12/09/16: Letter provided addresses the borrower's current residence and intention to sell. The illegible LOE on page 107 is signed, and appears to address deposits. Condition maintained.  12/01/16: Lender provided the LOE, regarding the address, however it is not signed. The illegible LOE on page 107 is signed, and appears to address deposits. Condition maintained. ; Missing final application (1003) - Final application (1003) is missing 2nd page of schedule of Liabilities.  - Cleared - Cleared 11/11/2016 Issue Resolution: 11/11/16: Lender provided the complete final application (1003) including the continuation sheet showing the schedule of liabilities. Condition cleared. ; Missing Purchase Contract - Purchase contract includes furniture from the screened in porch.  - Cleared - Cleared 10/28/2016 Issue Resolution: 10/28/2016:  Per purchase contract, the property is at no additional cost to the buyers, condition cleared. ; Missing Evidence of Taxes and Insurance  - Missing evidence of taxes and insurance on borrower's departing residence. Additional conditions may apply.  - Cleared - Cleared 01/13/2017 Issue Resolution: 12/01/16: Lender provided the signed Settlement Statement dated XX/XX/XXXX showing sale of property. Condition cleared. 11/23/2016 Lender provided Settlement Statement dated XX/XX/XXXX showing sale of property, however the statement was not signed by the Borrowers nor certified by the settlement agent. Please provide a certified copy of the Settlement Statement. Condition remains.  11/11/16: Lender provided the 1st page of the home mortgage statement and schedule of REO. In order to property calculate the tax and insurance please provide the tax bill and H/O declaration. Condition maintained.  ; Missing 4506-T - Missing borrower's Initial 4506-T, signed/dated per lenders guidelines.  - Cleared - Cleared 11/23/2016 Issue Resolution: 11/23/2016 Lender provided initial signed 4506T for Borrower. Condition cleared. 11/11/16: Lender provided the signed 4506 T for the co borrower. Please provide the initial 4506T, signed and dated for the borrower. Condition maintained. ; Missing Balance Sheet - File is missing a balance sheet for the co-borrower's schedule C business. Per appendix Q, both a Balance Sheet and a P&L statement is required; in order for the loan to be classified as a Qualified Mortgage.     - Cleared - Cleared 11/23/2016 Issue Resolution: 11/23/2016 Lender provided Balance sheet. Condition cleared. 11/11/16: Lender provided an LOE regarding the business and a YTD P&L. In order to be in compliance with appendix Q, both a Balance Sheet and a P&L statement is required; in order for the loan to be classified as a Qualified Mortgage.  Condition maintained. ; Missing Income Tax Schedules - Missing 2014 Schedule C income tax schedule. - Cleared - Cleared 11/11/2016 Issue Resolution: 11/11/16: Lender provided the Schedule C for 2014. Condition cleared.	HUD Homeownership Counseling Disclosure not provided within 3 days of application - HUD Homeownership Counseling Disclosure not provided within 3 days of application.  - Cleared - Cleared 11/11/2016 Issue Resolution: 11/11/16: Lender provided the HUD Homeownership Counseling List dated within 3 days of the application. Condition cleared. ; Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Missing evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation. When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met. - Cleared - Cleared 11/11/2016 Issue Resolution: 11/11/16: Lender provided the initial CD signed within 3 days of consummation. Condition cleared. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - Incorrect disclosure of Services Borrower DID NOT SHOP Fee-Section B. The CD in file is missing the following fees: Credit Report, Flood Determination. Settlement fees must all be disclosed to the consumer regardless of who pays them.  - Cured Post Close - Cured Post Close 12/29/2016 Lender Response: 11/30/16: Explanation of pricing. Both the $30.00 files are the new trended pricing which is $2.00 and $28.00 to refresh the CBR totaling $30.00. Issue Resolution: 12/09/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B. 12/8/2016: It has been determined that since a post close CD was already issued to the borrower listing the credit report and flood cert fee in section A as paid to a third party vendor, and we have received an attestation verifying these fees are absorbed by the lender, please provide one of the following 1) credit report fee and flood cert fee moved to Section B and disclosed as paid by lender, or b.) credit report fee and flood cert fee removed from section A due to fees are absorbed by Lender per attestation as these fees are paid on bulk invoices and are not allocated to individual loans.  Please provide updated CD along with a notification of error.  12/7/20106 Upon further investigation it has been determined that the attestation provided is sufficient to clear the finding. Even though there is an invoice in the file, this is not necessarily what was charged for the specific transaction. Condition cleared. 12/6/2016:  Escalated to compliance for review.  Will advise as soon as possible.  12/01/16: Please provide a corrected CD showing the Credit Report Fee, Flood Certification and settlement fees, within 60 days of consummation and LOE to the borrower. Condition maintained. 11/23/2016 Lender attested they absorb the expense of credit reports as well as flood certifications on all transactions unless otherwise disclosed on the Loan Estimate and closing disclosure. Regardless if Lender absorbs costs, they have to be disclosed if attributed to transaction. Condition remains. ; Borrower paid fee or provided credit card or check (except for the credit report) prior to acknowledgement of intent to proceed. - The file contains a copy of Charge Card Authorization to pay for the Appraisal Fee dated prior to the borrowers acknowledgement of Intent to Proceed. The lender is prohibited from collecting any fee or arranging payment terms for anything other than a credit report prior to the borrower indicates an Intent to Proceed. - Cleared - Cleared 02/24/2017 Issue Resolution: 11/30/2016:  Lender provided a satisfactory letter of explanation verifying the payment of the appraisal fee was for a different loan number.  Per the LOE, the borrowers applied for a loan in September, gave the intent to proceed on XX/XX/XXXX, therefore the appraisal fee was charged to the borrowers on XX/XX/XXXX, however the borrowers cancelled this application and ended up re-applying on XX/XX/XXXX. See email on page 316, verifying payment information was for a different loan number along with trailing docs showing the prior intent to proceed was dated XX/XX/XXXX and the invoice from appraiser dated XX/XX/XXXX.  The same appraisal was used for this transaction and coincides with the date reflected on the appraisers invoice and the time frame on the sales contract (sales contract dated XX/XX/XXXX).  Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves
312	per data	1	1	1	1		Transfer tax Fees on C.D. exceeds corresponding LE fees (0% Tolerance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects Transfer Taxes of $2,958.00 with no resulting COC for subsequent disclosures.  The final CD reflects taxes in Section E of $2,992.00 resulting in a variance of $34.00.  Refund for cure due. - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 02/14/2017:  Final CD shows a sufficient tolerance cure in the amount of $34.00. Loan will be graded a B for Fitch and A for others.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.17%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 771; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 73.80 months reserves
104	per data	1	1	1	1	Missing copy of title - Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy - Cleared - Cleared 11/21/2016 Issue Resolution: 11/21/16: Lender provided the title commitment reflecting the correct loan amount. Condition cleared.	HUD Homeownership Counseling Disclosure not provided within 3 days of application - A HUD Home-ownership Organization Counseling Disclosure was not provided. - Cleared - Cleared 11/21/2016 Issue Resolution: 11/21/16: Lender provided the HUD Home-ownership Organization Counseling Disclosure dated within 3 days of the application date. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.61%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 771; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #161 months excess reserves
71	per data	2	1	2	1		HUD Homeownership Counseling Disclosure not provided within 3 days of application - The loan file is missing a copy of the HUD Homeownership Counseling Disclosure. - Cleared - Cleared 11/23/2016 Issue Resolution: 11/23/2016 Lender provided. Condition cleared.; Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C - The Origination Charges in Section A are subject to 0% variance.  Le reflects an Discount Fee of $2,015 with no resulting COC for any subsequent disclosures.  Final CD reflects a Discount Fee of $2,325 for a refund required of $310. - Cured Post Close - Cured Post Close 11/21/2016 Issue Resolution: 11/21/2016:  The Final CD reflects a RESPA Discount Fee charge cure.  Condition cleared.  The loan will be rated a B for all agencies.; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a Credit report in the file.  The Credit report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.   - Cured Post Close - Cured Post Close 12/09/2016 Lender Response: Expenses for credit reports and flood certifications are paid on bulk invoices, and are not allocated to individual loans. Issue Resolution: 12/09/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B.12/8/2016:  It has been determined that since a post close CD was already issued to the borrower listing the credit report and flood cert fee in section A as paid to a third party vendor, and we have received an attestation verifying these fees are absorbed by the lender, please provide one of the following 1) credit report fee and flood cert fee moved to Section B and disclosed as paid by lender, or b.) credit report fee and flood cert fee removed from section A due to fees are absorbed by Lender per attestation as these fees are paid on bulk invoices and are not allocated to individual loans.  Please provide updated CD along with a notification of error.  12/6/2016:  Escalated to compliance for review, will advise as soon as possible.   12/01/16: Please provide either the contract with the vendor, or a corrected CD within 60 days of consummation and LOE to the borrower. Condition maintained. 11/23/2016  Please verify Lender is under a contract with the vendor to provide credit reports/flood certs at a set rate per month and the rate is not dependent upon the number of credit reports/flood certs that are requested and provided. Note: the credit report in file reflects a Price of $30.00.  Condition remains.; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent disclosure for the borrowers.  The loan file contains a tracking disclosure however; it does not specifically reflect when the borrowers signed the E Consent disclosure. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared. 12/01/16: Lender provided E consent agreement for Co-borrower dated 08/26/2016, however missing econsent for Borrower. Condition remains.11/29/2016 Lender provided Econsent agreement for Co-borrower dated 08/26/2016, however missing econsent for Borrower. Condition remains.
72	per data	1	1	1	1		HUD Homeownership Counseling Disclosure not provided within 3 days of application - HUD Homeownership Counseling Disclosure not provided in file.  - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the HUD Homeownership Counseling Disclosure provided within 3 days of the application date. Condition cleared.
57	per data	2	1	2	1	Missing Documentation - Missing evidence of filed 2015 Tax Return extension request for borrower's business (A)  - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the Form 7004 Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns for the fiscal year 2015. Condition cleared. ; Missing 4506-T - Missing the borrower's final executed 4506-T, the initial 4506-T for business A, C, and D and the final 4506-T for business B, C and D.  The  Lender guidelines require initial signed 4506T at application and final 4506T at closing. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the borrower's final executed 4506-T, the initial 4506-T for business A, C, and D and the final 4506-T for business B, C and D. Condition cleared. ; Missing Income Tax Schedules - Missing 2014 Schedule E Tax Return Schedule; 2013 return reflects REO sold in 2015. - Rescind - Rescind 10/18/2016 Issue Resolution: 10/18/16: Upon further review, Schedule E and LOE from the CPA in the file. Condition rescinded.	HUD Homeownership Counseling Disclosure not provided within 3 days of application - The HUD Homeownership Organization Counseling Disclosure and the list of agencies are required. Missing the list of agencies.  - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the list of 10 HUD Homeowership Organization Counseling agencies for the borrower's geographical area. Condition cleared.; Transfer tax Fees on C.D. exceeds corresponding LE fees (0% Tolerance) - not supported by C.O.C. - Missing corresponding COC for Final CD as the Transfer Fee has increased from $1055 to $1057.  The file is missing evidence of a valid change of circumstance. This is a zero Tolerance fee.      - Cured Post Close - Cured Post Close 09/30/2016 Issue Resolution: 09/29/2016:  The final CD reflected a $2 transfer tax charge cure.  Condition cleared.  The loan will be rated a B for Fitch and A for others.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 31.05%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #80.87 months excess reserves
313	per data	2	1	2	1	General Credit Exception - Please provide signed borrower letter providing authorization to close Home Equity Line of Credit on subject property. - Cleared - Cleared 02/17/2017 Issue Resolution: 2/13/2017:  Credit supplement provided verifying HELOC secured against subject property was closed out, condition cleared. Debt was not counted in DTI due to being paid and closed at closing.  02/07/17: Lender provided a letter authorizing closure of the HELOC dated post close. Please provide closure letter dated at or prior to close. Or, since this is dated post close, and is not from a third party,  please provide a credit supplement verifying the HELOC has been closed and has a zero balance. Condition maintained. ; Missing Documentation - Missing lender income analysis; Per lender guidelines Pg125; All loans files must contain an income analysis, which may be supplemented with the use of tools such as Fannie Mae’s Comparative Income Analysis (Form 1088), Cash Flow Analysis (Form 1084) - Cleared - Cleared 02/08/2017 Issue Resolution: 02/08/17: Lender provided the income analysis. Condition cleared. ; Missing income documentation - Missing year to date pay stub from period XX/XX/XXXX To XX/XX/XXXX; Pay stubs in file do not match reported monthly salary per employer letter. - Cleared - Cleared 02/17/2017 Issue Resolution: 02/07/17: Lender provided LOE from CFO of borrower's company explaining monthly pay schedule. Condition cleared. ; Missing Evidence of HELOC Draw for the Past 12 Months - Missing 12 months draw history to verify that no draws greater than $2,000.00 has occurred; Additional conditions may apply.  - Rescind - Rescind 02/02/2017 Issue Resolution: 2/2/2017:  Review of credit report in the file, reflects a 2 year draw history. HELOC included in cash out total. Condition rescinded.	Total of Payments is not accurate - The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX. - Cured Post Close - Cured Post Close 01/30/2017 Issue Resolution: 1/30/2017:  Non-material, loan will be graded a B.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 28.48; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.82%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #33 months excess reserves
299	per data	1	1	1	1	Missing verbal verification of employment - VVOE for the Co-Borrower dated within 10 business days prior to the Note date was not provided. - Cleared - Cleared 02/14/2017 Issue Resolution: 02/14/17: Lender provided the VVOE for the co borrower dated within 10 days of the note date. This is in compliance with the lender guidelines and QM. Condition cleared.	Missing E Consent Disclosure - Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclosure for the borrower & co-borrower. - Cleared - Cleared 02/14/2017 Issue Resolution: 02/14/17: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.54%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require # months Subject reserves, loan qualified with 41.80 months reserves
58	per data	2	1	1	1	Missing Documentation - Lender did not provide a QM status determination supporting Pass status for QM Safe Harbor qualification. - Cleared - Cleared 10/14/2016 Issue Resolution: 10/14/16: Lender provided the QM status determination. Condition cleared.  ; Missing copy of title - Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the correct amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.) - Cleared - Cleared 01/13/2017 Issue Resolution: 10/26/2016:  Copy of title commitment provided reflecting lenders coverage equal to the loan amount, condition cleared.  ; Missing Business Tax Returns - Missing 2014 & 2015 Business Tax Returns for business #7 of the Schedule E, Statement 1.  Additionally, missing 2015 Business Tax Returns for borrower's partnership. - Rescind - Rescind 10/20/2016 Issue Resolution: 10/20/2016:  Audit has reviewed and determined that these two businesses in question are one in the same company.  They did a name change per the K-1's located on page 528 and 542, (please note: they both have the same tax ID numbers), therefore the 2014 and 2015 returns are not required for Business #7 as this is the same company as the company and the tax returns for the company were provided for 2013 and 2014 along with the 2015 extension.   A YTD P&L and Balance Sheet were also provided for 2015 and YTD 2016.  Condition has been rescinded.  (please note: 2015 business return for borrowers business is on extension per page 512, therefore an executed return is also not required).  ; Missing Payoff Statement - Payoff letter was not provided in the loan file. - Cleared - Cleared 11/02/2016 Issue Resolution: 11/02/16: Lender provided the letter from the bank showing the loan has been paid in full. Condition cleared. 10/14/16: Lender provided the credit supplement. Please provide the payoff letter from lender showing per diem. Condition maintained. ; Missing Executed Personal Tax Returns - Executed 2013 & 2014 Personal Tax Returns were not provided in the loan file. - Cleared - Cleared 11/01/2016 Issue Resolution: 11/01/16: Lender provided the signed pages of the borrower's 2013 and 2014 personal tax returns. Condition cleared. ; Missing Executed Business Returns - Executed 2014 & 2015 Executed Business Returns were not provided for businesses #6, 7 & 9 of the 2014 Schedule E, Statement 1.  Additionally, Executed 2015 Business Return for borrower's business was not provided.  - Cleared - Cleared 11/11/2016 Issue Resolution: 11/11/16: Lender provided the signature pages for(#9) on Schedule E, Statement 1 on page 568 of file. Condition cleared.11/01/16: Lender provided the signature pages for the business #6, however, for business # 9, the signature pages were not provided. Condition maintained. 10/20/2016:  please note 2015 business return for borrowers business is on extension per page 512, therefore an executed return is not required.  Still pending executed 2014 & 2015 Executed Business Returns for businesses #6 & #9 of the 2014 Schedule E, Statement 1.; Missing Balance Sheet - Missing Balance Sheet for the borrower's Schedule C sole proprietorship and partnership listed for business #7 of the Schedule E, Statement 1.  Per appendix Q, both a Balance Sheet and a P&L statement ARE required; in order for the loan to be classified as a Qualified Mortgage. - Cleared - Cleared 01/13/2017 Issue Resolution: 11/02/16: Lender provided the revised Balance Sheet showing the date XX/XX/XXXX6 for the borrower's schedule C business, and an LOE from the borrower, confirming the correction of the dates. The 2015 was a typographical error, and when completing the Balance Sheet, was thinking of month/quarter end, however, the figures are valid through XX/XX/XXXX. Condition cleared.10/27/2016:  Per compliance review, the P&L and Balance Sheet are dated post close, therefore we cannot accept as this does not meet QM requirements.  In order to be QM compliant, the lender would have had to of had these in their possession prior to closing.  10/26/2016:  Escalated to compliance for review, will advise as soon as possible. 10/20/2016:  Audit and reviewed and determined that Business #7 as this is the same company as the company and the tax returns for the company were provided for 2013 and 2014 along with the 2015 extension.   A YTD P&L and Balance Sheet were also provided for 2015 and YTD 2016 therefore a P&L and Bal is not required for Business #7, however still pending a YTD P&L and Bal Sheet for borrowers Schedule C sole proprietorship. ; Missing YTD Profit & Loss - Missing YTD Profit & Loss statements for the borrower's Schedule C sole proprietorship and partnership listed for business #7 of the Schedule E, Statement 1.  Per appendix Q, both a Balance Sheet and a P&L statement ARE required; in order for the loan to be classified as a Qualified Mortgage. - Cleared - Cleared 01/13/2017 Issue Resolution: 11/02/16: Lender provided the revised P&L showing the period XX/XX/XXXX to XX/XX/XXXX for the borrower's schedule C business, and an LOE from the borrower, confirming the correction of the dates. The 2015 was a typographical error, and when completing the YTD, was thinking of month/quarter end, however, the figures are valid through XX/XX/XXXX. Condition cleared.  10/27/2016:  Per compliance review, the P&L and Balance Sheet are dated post close, therefore we cannot accept as this does not meet QM requirements.  In order to be QM compliant, the lender would have had to of had these in their possession prior to closing.   10/26/2016:  Escalated to compliance for review, will advise as soon as possible. 10/20/2016:  Audit and reviewed and determined that Business #7 as this is the same company as the company and the tax returns for the company were provided for 2013 and 2014 along with the 2015 extension.   A YTD P&L and Balance Sheet were also provided for 2015 and YTD 2016 therefore a P&L and Bal is not required for Business #7, however still pending a YTD P&L and Bal Sheet for borrowers Schedule C sole proprietorship.  ; Missing K-1 - Missing Schedule K-1 for business #7 of the Schedule E, Statement 1.  Additionally, missing 2015 Schedule K-1 for the borrower's partnership. - Rescind - Rescind 10/20/2016 Issue Resolution: 10/20/2016:  Audit has reviewed and determined that these two businesses in question are one in the same company.  They did a name change per the K-1's located on page 528 and 542, (please note: they both have the same tax ID numbers), therefore the 2014 and 2015 K-1's are not required for Business #7 as this is the same company as the company and the tax returns and K-1's for the company were provided for 2013 and 2014 along with the 2015 extension.   A YTD P&L and Balance Sheet were also provided for 2015 and YTD 2016.  Condition has been rescinded.  (please note: 2015 business return for borrowers business is on extension per page 512, therefore a K-1 is also not required).	Missing Right To Cancel Form - Right To Cancel Form provided in the loan file does not reflect the transaction date or the expiration date. - Cured Post Close - Cured Post Close 01/13/2017 Issue Resolution: 11/3/2016:  Audit has reviewed and determined that rescission was re-opened to the borrower on XX/XX/XXXX and expired at midnight on XX/XX/XXXX, giving the borrower the required 3 days.  Loan will be graded a B for Fitch and A for others.  11/02/16: Lender provided the corrected ROR showing the transaction date and the expiration date both initialed by the borrower. However funding occurred before RTC expiration date. Condition maintained.		CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 59.94% ; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.04%; Reserves are higher than guideline minimum UW Guides require 6 months reserves, loan qualified with 22.80 months reserves
75	per data	1	1	1	1	Hazard Insurance Shortfall - Hazard insurance declaration reflects non-replacement cost coverage limit of $XXX,XXX with Note reflecting $XXX,XXX for a shortfall of $XXX,XXX; No replacement cost estimate is provided by the insurer. Please provide evidence of insurer replacement cost estimate of $XXX,XXX - Cleared - Cleared 02/17/2017 Issue Resolution: 09/22/16: Lender provided the replacement cost estimator for the subject property showing sufficient coverage. Condition cleared. ; Missing verbal verification of employment - Missing VVOE within 10 days prior to Note date for borrowers current employers (D) and (E). - Cleared - Cleared 11/17/2016 Issue Resolution: 11/17/2016:  Satisfactory VVOE's provided for both jobs dated within 10 days prior to the Note, condition cleared.  09/22/16: Per CPA letter in the file, the borrower does not have ownership interest in the employers (D) and (E). Please provide the VVOE provided 10 days prior to the note date. Condition maintained.; Missing Trust Documentation - Missing Trust Documents supporting borrower Trust Returns (C) - Cleared - Cleared 10/28/2016 Issue Resolution: 10/28/2016:  Copy of trust documents provided, condition cleared.; Missing rate lock verification - Missing rate lock for change in program and rate per XX/XX/XXXX CD - Cleared - Cleared 02/17/2017 Lender Response: 10/28/2016:  This was not required by us because the revised CD with the Change of Circumstance form provided the new rate lock information.  Issue Resolution: 10/31/2016:  Discussed with Team Lead, and since we have a copy of the COC going from an ARM to a Fixed Rate with the new terms outlined on the COC, and was re-disclosed within 3 days of the COC, this is sufficient, condition cleared.  10/28/2016:  Rate lock was not attached, only CD from XX/XX/XXXX and notification of error, condition remains for copy of rate lock for the fixed rate.  9/20/2016:  Copy of COC provided, however still pending copy of rate lock for the fixed rate on XX/XX/XXXX.  (only the ARM lock was provide in the loan file); Missing 4506-T - Missing 4506T at closing for borrower partnership (B); Guidelines require signed initial 4506T at application and final at closing.Missing 4506T at closing for borrower 1041 Trust Return; Guidelines require signed initial 4506T at application and final at closing - Cleared - Cleared 11/17/2016 Issue Resolution: 11/17/2016:  Received signed 4506-T from closing for both the partnership B and the Trust, condition cleared.  10/28/2016:  Received initial signed 4506-T for partnership B and the Trust, however still pending signed 4506-T from closing for both partnership B  and the Trust .  ; Missing Executed Business Returns - Missing evidence of signed 2014 and 2014 tax returns for borrower 1041 Trust Returns.Missing evidence of signed tax returns for borrower partnership (A).Missing evidence of signed tax returns for borrower partnership (B). - Cleared - Cleared 11/17/2016 Issue Resolution: 11/17/2016:  2014 signed business tax returns provided for partnership A and B, condition cleared.  10/28/2016:  Tax returns provided were not executed, condition remains. ; Missing YTD Profit & Loss - Missing 2015 and 2016 YTD Balance Sheet and Profit & Loss statements for borrower partnership (B).Missing 2015 and 2016 year-to-date Profit & Loss statement for borrower Trust reported per 1041; Documentation in file is illegible. - Cleared - Cleared 11/30/2016 Issue Resolution: 11/30/2016:  Received 2015 and YTD 2016 P&L and Balance Sheet for the limited partnership.  Statement reflects no liabilities that would effect the income used to qualify, condition cleared.   11/23/2016 Received 2015 and 2016 year-to-date Profit & Loss statement for the Trust, however still pending 2015 and 2016 YTD Balance Sheet and Profit & Loss statements for Limited Partnership. 11/17/2016: Received 2015 and 2016 year-to-date Profit & Loss statement for the Trust, however still pending 2015 and 2016 YTD Balance Sheet and Profit & Loss statements for Limited Partnership. 9/20/2016:  Received P&L and Balance Sheets for Business A, however still pending 2015 and 2016 YTD Balance Sheet and Profit & Loss statements for borrower partnership (B) and 2015 and 2016 year-to-date Profit & Loss statement for borrower Trust reported per 1041.  ; Missing W-2 - Missing 2014 W2 for borrower employer (E); employment documentation reflects employment since 2005. - Cleared - Cleared 10/29/2016 Issue Resolution: 10/29/2016:  Audit has reviewed and determined that the 2014 W-2's were provided in the loan file (pgs 678-679) and coincide with the amount listed on line 7 of the 2014 1040 personal returns, no further documentation required, condition cleared. ; Missing Income Tax Schedules - Missing complete 1065 returns for borrower partnership (A) income; statement supporting line #20 deduction is missing.  - Cleared - Cleared 02/02/2017 Issue Resolution: 2/2/2017:  Received copy of the itemized statement for line #20, condition cleared.  10/29/2016:  Only the first page of the tax returns provided, condition remains for the complete 1065 returns for borrowers partnership (A) income; statement supporting line #20 deduction is missing.	Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent disclosure for the borrower. - Cleared - Cleared 09/22/2016 Issue Resolution: 9/20/2016:  Borrower's Consent to Receive Communications Electronically provided, condition cleared.	570 - Review Appraisal Missing - Review Appraisal Missing – A CDA report was not provided in file. - Cleared - Cleared 02/17/2017 Issue Resolution: 10/29/2016:  CDA provided reflecting reconciled value of $X,XXX,XXX or 0% variance. Condition cleared.	DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves
278	per data	2	1	2	1		Missing Changed Circumstance form - LE dated 1/11/2017 has a loan amount of $X,XXX.XXX. Final CD reflects a loan amount of $X,XXX,XXX with no corresponding Change of Circumstance form in file. - Cleared - Cleared 02/17/2017 Issue Resolution: 02/08/17: Lender provided the COC reflecting  the increase in loan amount and added charge of .335% due to change in LTV. Condition cleared.; Lender Credits on Final Closing Disclosure at closing is inaccurate in relation to previous Initial disclosure(s) - LE Lender credits are $1693. CD credits are 0 (LE is based on $X,XXX,XXX @ X.XX%. CD is $X,XXX,XXX @ X.XX%).  - Cleared - Cleared 02/17/2017 Issue Resolution: 02/08/17: Lender provided the COC reflecting a rate change to X.XX and added charge of .335% due to change in LTV. Condition cleared. ; Closing Disclosure document error - Final CD does not disclose second appraisal, second appraisal needs to be disclosed even if paid by another party, additional conditions may apply.  Please note that a copy of the notification of error to the borrower must be provided along with the redisclosed CD.  - Cured Post Close - Cured Post Close 02/21/2017 Issue Resolution: 02/08/17: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B. Condition cleared.
40	per data	2	2	1	1	Missing 4506-T - Missing an executed 4506-T for business A and C on the 2014 Schedule E. - Override - Acknowledged 12/01/2016 Issue Resolution: 12/1/2016:  Condition waived based on executed 4506-T's were provided post close, loan will be graded a B.  9/20/2016:  Received executed 4506-T for Business A and C that was signed post close (loan will be graded a B), however still pending 4506-T for Business A and C that was signed at application.   If requesting an exception, please send to lender mail box.	Missing Documentation - Lender did not provide an ATR/QM status determination. - Cleared - Cleared 09/20/2016 Issue Resolution: 9/20/2016:  Lender provided Worksheet supporting status determination as yes for eligible for Safe Harbor and QM, condition cleared.  ; Missing E Consent Disclosure - Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclose for the borrower. - Cleared - Cleared 09/20/2016 Issue Resolution: 9/20/2016:  Copy of eConsent provided, condition cleared.		CLTV is lower than guideline maximum UW Guides maximum CLTV of 65%, loan qualified with CLTV of 45.23%; DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.87%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 121.30 months reserves
66	per data	1	1	1	1	Missing Documentation - Missing terms of withdrawal for borrower's retirement account. Document in file does not list the hardships that qualify for withdrawal. - Cleared - Cleared 10/29/2016 Issue Resolution: 10/29/2016:  Withdrawal terms for both borrowers retirement accounts provided, condition cleared. ; Missing AUS results - Missing AUS results. - Cleared - Cleared 10/29/2016 Issue Resolution: 10/29/2016:  AUS results provided, reflecting approve/ineligible for loan amount exceeding the maximum allowable loan limit, condition cleared. ; Missing income documentation - Missing third party verification of verification with the address and phone number of the employer for the Borrower and Co-Borrower. - Cleared - Cleared 09/27/2016 Issue Resolution: 09/27/16: Third party verification provided. Condition cleared. ; Missing asset documentation - Missing complete quarterly statements for borrower and co-borrower's retirement accounts. Only first page is in file for both accounts. - Cleared - Cleared 11/02/2016 Lender Response: 10/31/16: The borrower's balance in his retirement, after considering the loan, is $28,498, plus his wife's retirement (vested) balance of $15,461 = $43,959 x 60% = $26,375. The required total reserves of nine months PITIA equals $24,979.23, so we have met the requirement. I have attached the statement showing the loan amount was already taken out when determining the borrower's total remaining balance at the bottom ofpage 1 where I have annotated it.   Issue Resolution: 11/02/16: Lender provided the statement showing the balance of $28,498.11 @ 60% = 17,098.87. Contributions since joining/transfers in/Loan Payment: $29,730.10 less Loan ($17,698.23)+ Gains $16,466.24. $25,107.73, less subject reserves (9 x $2,775.49) $24,979.41 = $128.32 excess reserves. Condition cleared. 10/26/2016:  Complete quarterly statements provided, however upon audit review, it has been determined that the borrower has a 401K loan appearing on the complete statements that now needs to be deducted from the balance, causing the borrowers to be short reserves.   Required reserves to be verified is 9 months, borrowers now only have 4 months verified.   Assets verified $11,173.84 (401K $3164.98 + $9276.86 -(1268 month revolving account) = $11,173.84.  Condition remains for verification of 9 months reserves and source of funds.  ; Missing verbal verification of employment - Missing verbal verification of employment for Co-Borrower dated within 10 days of the Note date.  The VVOE in the loan file is dated XX/XX/XXXX which is after the Note date. - Cleared - Cleared 01/13/2017 Issue Resolution: 09/27/16: VVOE provided within 10 days of the note for the co borrower. Condition cleared.	Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Missing evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation. When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met. - Cleared - Cleared 09/19/2016 Issue Resolution: 09/19/16: Lender provided the signed initial CD. Condition cleared. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Title-Lender's Title Insurance is reflected in section B of the final Closing Disclosure. The borrower shopped for their own Title-Lender's Title Insurance and did not use the provider on the WLSP. All the Title-Lender's Title Insurance should be listed in section C of the CD. - Cleared - Cleared 09/27/2016 Issue Resolution: 09/27/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent  disclosure for the borrower and co-borrower.  - Cleared - Cleared 09/19/2016 Issue Resolution: 09/19/16: Lender provided evidence of e consent. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.792%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 756; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.30 months reserves
76	per data	1	1	1	1	Missing Documentation - Executed letter reflecting Home Equity Line of Credit (HELOC) was closed and frozen not provided in the loan file. - Cleared - Cleared 11/21/2016 Issue Resolution: 11/21/16: Letter from the lender stating the HELOC was paid in full and closed was provided. Condition cleared. ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the third party fraud report for the borrower and co borrower. Condition cleared.	Funding occurred before RTC Expiration Date - Final CD reflects funding occurred before rescission expiration date.  Borrowers were not provided a 3 day rescission period.  Please provide evidence of disbursement date.  Additional conditions may apply.   - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.88%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 801; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17 months reserves
84	per data	2	2	2	1	Missing copy of title - Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.) - Cleared - Cleared 01/13/2017 Issue Resolution: 12/30/16: Lender provided a copy of the final title policy reflecting the correct loan amount. Condition cleared.; Missing Payoff Statement - Missing evidence of current mortgage payoff statement for refinance. - Cleared - Cleared 12/30/2016 Issue Resolution: 12/12/16: Lender provided the current mortgage payoff statement. Condition cleared.	Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for. - WLSP dated XX/XX/XXXX is missing the verbiage for the borrower to see Section C on page 2 of your Loan Estimate or the estimated dollar amount. - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 12/01/2016: Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B.  ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Flood Cert Fee was not reflected in section B of the Closing Disclosure despite evidence of a flood cert in the file.  The Flood Cert fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.   - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/2016 Attestation sent after the condition was sent. Condition status updated to cleared. 12/12/16: Lender provided an attestation that they absorb all costs associated with the credit report and the flood certificate. This attestation has been reviewed and approved by the compliance department. Condition rescinded.; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $560 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal fee of $695 however; the actual charges were an Appraisal fee in the amount of $620 and Appraisal Update fee in the amount of $175 resulting in a $235 refund due for cure. - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 12/30/16: Lender provided the corrected CD within 60 days of consummation, LOE to the borrower, refund of $100.00 and evidence of mailing. The refund of $100.00 is in addition to the $135.00 already provided with the final CD.  Loan will be graded a B for Fitch and A for others. Condition cleared.12/01/2016:  Final closing disclosure reflects a tolerance cure in the amount of $135 paid to the borrower from an Appraisal charge cure however; the refund should be $235.  Condition remains.; Missing Loan Estimate / LE Not in File - Missing loan estimate dated XX/XX/XXXX to correspond with the WLSP in file and the LE's dated XX/XX/XXXX and XX/XX/XXXX to correspond with the COC's in file for change in interest rate and lock extensions.  Acknowledged of these LE's from the borrower were in the file however; the LE's are missing. - Cleared - Cleared 01/17/2017 Lender Response: 12/29/16: This is a wholesale loan. The broker disclosed on XX/XX/XXXX. Lender sent disclosures on XX/XX/XXXX, but no LE. We are not required to send another LE until the loan is locked. Broker discloses the loan and is not locked and another LE is not required.  Issue Resolution: 12/30/16: Upon further review, the lender is bound by the terms of the initial LE and is not required to re disclose if not locked, or unless there is a change in the APR of 0.125%, pre-paids, or the loan program. Condition cleared.  12/12/16: Lender provided the LE dated XX/XX/XXXX and XX/XX/XXXX however missing XX/XX/XXXX. Condition maintained. ; Closing Disclosure document error - The Property Taxes on line 05 in section F is missing the government entity. - Cured Post Close - Cured Post Close 01/03/2017 Issue Resolution: 12/30/16: Lender provided the corrected CD within 60 days of consummation, LOE to the borrower, and evidence of mailing. Condition cleared.  Loan will be graded a B. ; Loan Estimate document error - The LE is missing the lender's email and phone number under the section, Additional Information About This Loan. - Cured Post Close - Cured Post Close 12/01/2016 Issue Resolution: 12/1/2016:  This is a non-material issue.  The loan will be rated a B for all agencies.	Missing Appraisal Completion Cert - Missing Appraisal 1004D completion certification.  The loan file contains an invoice in the file for the amount of $175.  Additional conditions may apply. - Cleared - Cleared 12/12/2016 Issue Resolution: 12/12/16: Lender provided the Appraisal 1004D completion certification. Condition cleared.  ; Appraisal not provided - The loan file is missing the appraisal.  The loan file contains an invoice in the file for the amount of $620.   Additional conditions may apply. - Cleared - Cleared 12/12/2016 Issue Resolution: 12/12/16: Lender provided a copy of the appraisal. Condition cleared.	FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 743; No Mortgage Lates No Mortgage Lates in #99 months aggregate reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #60 months excess reserves
30	per data	2	1	2	1	Missing Lease agreement - Per Appendix Q, both IRS Form 1040 Schedule E and a current lease/rental agreement are necessary to verify all consumer rental income in order for the loan to be classified as a Qualified Mortgage.  Missing active lease agreement for property listed on Schedule of Real Estate Owned.  The lease agreement provided in the loan file expired XX/XX/XXXX and the box for month-to-month tenancy thereafter was not marked. - Rescind - Rescind 01/17/2017 Lender Response: 10/3/2016:  No rental income was used to qualify therefore Appendix Q does not apply.  Issue Resolution: 10/4/2016:  Audit has reviewed and determined that no rental income was required to qualify.  Audit has added the REO payment back into the DTI and borrower still qualifies by not using any rental income, therefore a lease agreement is not required, condition rescinded.	Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $550.00 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal Fee of $700.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $150.00 is required.   - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 09/23/2016:  The final closing disclosure reflects a post close tolerance cure of $150.00, which is sufficient.  Loan will be rated a B for Fitch and A for others.  ; Total of Payments is not accurate - The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX. - Cured Post Close - Cured Post Close 10/04/2016 Issue Resolution: 10/4/2016:  Audit has reviewed and determined the over-disclosure for total payment is not material, loan will be graded a B.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.85%; No Mortgage Lates No Mortgage Lates in #99 months reviewed; Reserves are higher than guideline minimum No Mortgage Lates in # months reviewed
41	per data	2	2	2	1	General Credit Exception - Lender did not provide an ATR/QM status determination - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/2016:  ATR/QM status provided showing as a pass, condition cleared.  12/13/16: Document provided was the post close CD. Condition maintained. ; General Credit Exception 2 - Please provide signed borrower letter providing authorization to close Home Equity Line of Credit on subject property. - Cleared - Cleared 12/13/2016 Issue Resolution: 12/13/16: Lender provided the payoff letter authorizing the bank to close the HELOC. Condition cleared. ; Missing Documentation - Missing business verification of employment from CPA for co-borrower schedule C income.  - Cleared - Cleared 12/19/2016 Issue Resolution: 12/19/2016 Audit reviewed loan file and has noted that the loan file documentation satisfies QM requirements for self employed borrowers; i.e 2 years tax returns and YTD P&L and balance sheet. Income not used to qualify. CPA license sufficient to verify business. Condition cleared.   12/09/16: Lender provided a CPA license for the borrower, with an LOE that the co-borrower's schedule C business is conducted under the borrower's CPA license. Tax returns are self prepared.  Please provide an occupational license to operate out their home. Condition maintained. ; Missing 1008 or Underwriter Approval - Missing updated 1008; Income reported per 1008 does not match lender income calculation worksheet or AUS reported income; additional conditions may apply. - Cleared - Cleared 12/09/2016 Issue Resolution: 12/09/16: Lender provided the 1008 that corresponds to the income worksheet and AUS in the file. Condition cleared. ; Missing Lease agreement - Missing current lease or rental agreement for the 2nd property listed on the Schedule of Real Estate Owned on the 1003. Per appendix Q, both IRS Form 1040 Schedule E; and a current lease or rental agreement is necessary to verify all consumer rental income; in order for the loan to be classified as a Qualified Mortgage.  A lease is in the loan file however; the termination date is XX/XX/XXXX. Please provide documentation the lease is still in effect and copies of receipt of rental income for the past 24 months. - Cleared - Cleared 12/28/2016 Issue Resolution: 12/28/2016:  Audit has reviewed and determined that the lease in the file expired XX/XX/XXXX and rolled to a month to month.   We have 2015 and 2014 tax returns showing income being claimed on the schedule E. Also included in the loan file was a copy of the current rent check from the tenant dated 7/28/2016 that was deposited into the borrowers account as evidence the same tenant listed on the lease is still occupying the property, no further documentation required, QM requirements met, condition cleared.  12/09/16: Lender provided copies that the lease automatically renews number 21. LOE month to month. Missing documentation the lease is still in effect and copies of receipt of rental income for the past 24 months. Condition maintained.	Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for. - Missing "valid" WLSP.  The WLSP in the file does not refer to the language of allowing the borrower to review fees you can shop for in section C of the LE or list the Estimated amount on the document.  - Cured Post Close - Cured Post Close 11/21/2016 Issue Resolution: 11/21/2016:  Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1347.03 a month versus the calculated value of $1,023.28 a month. The lender used the incorrect amount for either the taxes, insurance or HOA however; it cannot be determined with the documentation in the loan file. - Cured Post Close - Cured Post Close 12/13/2016 Issue Resolution: 12/13/16: CD Estimated Taxes, Insurance & Assessments section is a non-material grade B. ; Closing Disclosure document error - The Closing Disclosure in  Section (B), Appraisal Report Fee, Credit Report Fee, HOA Cert Fee, Tax Cert Fee and SSA Verification Fee does not show the correct payee with all reported as paid to lender with the provider not reflected. The Closing Disclosure in  Section (B), Title-Mobile Notary Fee is reported as paid to a third party is inaccurate; The fee should reflect paid to Closing Agent XXX Third party.  - Cured Post Close - Cured Post Close 12/15/2016 Issue Resolution: 12/15/2016:  Copy of the notification of error to the borrower provided, condition cleared, loan will be graded a B.  12/13/16: Lender provided the corrected CD, however, we are missing the LOE to the borrower. Per compliance, the post close corrective CD needs to correct the issue from the final CD and list the payee which this post close CD seems to have completed. We would not go back and re-audit the post close CD for anything else such as misspelled services if it is obvious what they were trying to spell. This would not require a second corrective post close CD. Condition maintained. 11/21/2016:  A Post Close CD in the loan file does not reflect any changes to the service provider in section B.  Condition remains.; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent disclosure for the borrower. - Cleared - Cleared 12/14/2016 Issue Resolution: 12/14/2016:  E-Consent provided for both borrowers, condition cleared.  12/09/16: E consent provided was for the co borrower which we have in the file. Missing the Borrower's Consent to Receive Communications Electronically. Condition maintained.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.59%; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 73.98%; No Mortgage Lates No Mortgage Lates in #38 months reviewed
70	per data	1	1	1	1	General Credit Exception - Lender to confirm occupancy of subject property due to appraisal being marked "Tenant".  Appraiser will need to verify that the tenant has vacated the subject property.   - Cleared - Cleared 10/13/2016 Issue Resolution: 10/13/2016:  The Appraiser confirmed that the unit is vacated by the former tenant, condition cleared.    ; Missing K-1 - Missing 2015 & 2014 K-1 for self-employed business showing in section A of the Schedule E on the 1040’s. Provide a 2 year history per appendix Q,  K-1's are required; in order for the loan to be classified as a Qualified Mortgage. Additional conditions may apply.  - Cleared - Cleared 01/13/2017 Issue Resolution: 10/11/16: Lender provided the 2014 K-1. 2015 Schedule E is 0.00 (Pg 547) for XXXXXXX. Stock Sale Pg 586 and 2014 schedule E  Pg 617. Condition cleared.	Missing Special Information Booklet / Home Loan Toolkit - Missing Special Information Booklet / Home Loan Toolkit. - Cleared - Cleared 10/11/2016 Issue Resolution: 10/11/16: Lender provided evidence of delivery of the Special Information Booklet dated within 3 days of the application date. Condition cleared. ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal fee of $455 with no resulting CoC for any subsequent disclosures. The final CD reflects an Appraisal fee of $620 resulting in a $165 refund due for cure.   - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 10/04/2016: Final CD discloses sufficient cost to cure of $283.13. Loan will be graded a B for Fitch and A for others. ; Closing Disclosure document error - Final Closing Disclosure section B Inspection fee is missing service provider payee name.   - Cleared - Cleared 10/11/2016 Issue Resolution: 10/11/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.; Missing E Consent Disclosure - Please provide copy of signed E-Sign consent form giving the lender permission to provide documents electronically. - Cleared - Cleared 10/11/2016 Issue Resolution: 10/11/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 776; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 24 months; credit report verifies 33 months’ payment history with no late payments reported.; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 179.50 months reserves
69	per data	2	1	2	1	Missing Documentation - Missing evidence of taxes and insurance for REO #4 listed on final 1003.  - Cleared - Cleared 12/22/2016 Issue Resolution: 12/22/2016:  Lender provided copy of the condo's master insurance policy verifying the HO6 insurance is included, condition cleared.  12/12/16: Evidence of tax was provided. Missing homeowner's insurance. Condition maintained. ; Missing Balance Sheet - Missing current Balance Sheet Borrower’s Schedule C business. Per appendix Q, both a P&L & Balance Sheet are necessary for the loan to be classified as a Qualified Mortgage and the Balance Sheet is missing from the file. - Cleared - Cleared 12/15/2016 Issue Resolution: 12/15/2016:  Balance sheet provided. Statement reflects no liabilities that would effect the income used to qualify.  Also to clarify, the requirement was for a Balance Sheet for borrowers Schedule C, when it should have requested the Balance Sheet for borrowers S-Corp.   Borrowers do not file a Schedule C.	Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - Closing Cord. Funding & Wire on final CD is $195.00. LE dated XX/XX/XXXX lists fee as $175.00. This fee is in a 0% tolerance section. Lender tolerance cure of $20.00 is required.  Section J reflects $20.00 tolerance cure. - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 11/11/2016: Final CD shows a sufficient tolerance cure in the amount of $20.00. Loan will be graded a B for Fitch and A for all others. Condition cleared.; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $878.32 a month vs. the calculated value of $947.07 a month. HOA of $75.00 not being escrowed. Difference of $6.25. - Cured Post Close - Cured Post Close 12/21/2016 Issue Resolution: 12/21/2016: Per compliance, The finding for “Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately” is material for items in escrow and non-material for items not in escrow. In this case it is for HOA which is not an escrowed item, therefore is non-material and loan will be graded a B.   12/16/2016:  escalated to compliance, will advise as soon as possible.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.63%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17.20 months reserves
103	per data	2	1	2	1		General Compliance Exception - The subject loan was funded in a dry funding state.  Estimated Settlement Statement in file indicates a cash to close of $XXXX vs. the final CD which reflects a cash to close of $XXXX with a discrepancy of $174.34.  Please provide Final Settlement Statement and explanation of discrepancy.  - Cleared - Cleared 11/23/2016 Issue Resolution: 11/23/2016 Lender provided LOX. Condition cleared. 11/21/16: Lender provided the corrected CD, however missing the LOE to the borrower. Condition maintained. ; Incorrect disclosure of Origination Charges - Section A - The Underwriting Fees in section A of the final Closing Disclosure is missing the name of the payee.  Additionally, the “Underwriting Fees” paid to the lender reflected in section A of the final Closing Disclosure should be itemized.  Section A Fees:  1026.38(f)(1):  Under the subheading “Origination Charges,” and in the applicable columns as described in paragraph (f) of this section, an itemization of each amount paid for charges described in § 1026.37(f)(1), the amount of compensation paid by the creditor to a third-party loan originator along with the name of the loan originator ultimately receiving the payment, and the total of all such itemized amounts that are designated borrower-paid at or before closing. - Cured Post Close - Cured Post Close 11/14/2016 Issue Resolution: 11/10/2016:  This is a non-material finding.  Loan will be rated a B for all agencies.; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Flood Cert Fee was not reflected in section B of the Closing Disclosure despite evidence of a flood cert in the file.  The Flood Cert Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.   - Cleared - Cleared 11/29/2016 Issue Resolution: 11/29/2016 Lender attested they pay an annual fee to XXXXXXX for flood certs. Condition cleared.; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $575.00 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal Fee of $695.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $120.00 is required.   - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 11/10/2016:  The final closing disclosure reflects a post close tolerance cure of $120.00, which is sufficient.  Loan will be rated a B for Fitch and A for others.; Missing E Consent Disclosure - Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclose for the borrowers. - Cleared - Cleared 11/22/2016 Issue Resolution: 11/22/2016 Proof that both borrowers consented to receiving e-disclosures, provided.
148	per data	1	1	1	1	Missing LOE - Condition added 12/2/2016:  Lender to provide a satisfactory explanation as to why there are 2 separate appraisals dated within 2 weeks of each other, performed by the same appraiser. ie...was something updated on the 2nd appraisal etc... (1st appraisal is dated XX/XX/XXXX, and the 2nd is dated XX/XX/XXXX  - Cleared - Cleared 12/07/2016 Issue Resolution: 12/07/16: Lender provided an LOE from the Lead Appraisal Administrator. Appraiser revised the county, and in error, changed the dates. Condition cleared.	Missing Special Information Booklet / Home Loan Toolkit - Missing Home Loan Toolkit and evidence of issuance within 3 days of application. - Cleared - Cleared 11/21/2016 Issue Resolution: 11/21/16: Lender provided evidence of receipt of the Home Loan Toolkit within 3 days of the application date. Condition cleared. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Flood Certificate Fee does not reflect in Section B of the final CD.  - Cleared - Cleared 11/21/2016 Issue Resolution: 11/21/16: Lender provided an attestation that they do not charge a fee for Flood Certificate on their loans. This is a provided service and is not disclosed as a separate charge. Condition cleared. ; Naming Convention in Services Borrower DID NOT SHOP Fee - Section B in C.D. is not consistent - The final CD reflects Title – Loan Tie-in Fee and the LE dated 10/19/2016 reflects Title – Doc Prep Fee. The naming convention is not consistent. - Cleared - Cleared 11/29/2016 Issue Resolution: 11/29/2016 Lender attested Loan tie in fee was an escrow charge and is not same as fee on LE doc prep fee. Title-Doc prep fee on LE was not charged on CD. No tolerance issue. Condition cleared. ; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent disclosure for the borrower and co-borrowers. - Cleared - Cleared 11/21/2016 Issue Resolution: 11/21/16: Lender provided evidence of the borrowers' consent to receive documents electronically. Condition cleared.	570 - Review Appraisal Missing - Missing appraisal field review; "CDA Indeterminate; Pending third party appraisal review to support value". - Cleared - Cleared 12/07/2016 Issue Resolution: 12/07/16: Lender provided the One-Unit Residential Appraisal Field Review Report. Condition cleared.  12/2/2016:  Upon further review by Audit, it has been determined that a CDA was provided instead of a Field Review and was inadvertently cleared.   However, Lender did provide a Field Review, but has an incorrect property address.   Please provide an updated Field Review with the correct property address listed.   11/23/2016 Lender provided. Condition cleared.	FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; LTV is lower than guideline maximum UW Guides require 70% LTV, loan qualified with LTV of 56.56%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #39 months excess reserves
98	per data	2	1	2	1		Incorrect disclosure of Origination Charges - Section A - The “Discount points" in section A of the final Closing Disclosure are missing the name of the service provider. - Rescind - Rescind 12/09/2016 Issue Resolution: 12/9/2016:  Audit has reviewed and determined that the "discount points" located in section A, are paid to the Lender, therefore do not require a Service Provider to be listed, condition rescinded. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Flood Cert Fee was not reflected in section B of the Closing Disclosure despite evidence of a flood cert in the file.  The Flood Cert Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.   - Cleared - Cleared 01/05/2017 Issue Resolution: 1/5/2017:  Lender provided an attestation verifying that they pay an annual fee to the Vendor and there is no specific charge allocated on the CD for this service, condition cleared. ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $485.00 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal Fee of $620.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $135.00 is required.   - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 11/17/2016:  A Post Close CD reflects a RESPA Appraisal charge cure in the amount of $135.  Condition cleared. The loan will be rated a B for all agencies.; DID SHOP Fee (Section C) & Recording Fee (Section E) exceeds 10% summary tolerance - The Recording fee was disclosed on LE as $115 and on the final CD as $138, exceeding the allowable 10% tolerance.  A tolerance cure of $11.50 is required.   - Cured Post Close - Cured Post Close 11/17/2016 Issue Resolution: 11/17/2016:  A RESPA Recording Fee charge cure evidenced on the final CD. Condition cleared.  The loan will be rated a B for all agencies.; Loan Estimate document error - The LE is missing the lender's e-mail or phone number under the section, Additional Information About This Loan.   - Cured Post Close - Cured Post Close 11/17/2016 Issue Resolution: 11/16/2016:This finding is not material. Loan will be graded a B for all agencies.
213	per data	2	2	1	1	Missing hazard insurance declaration - The loan file is missing the hazard insurance declaration.  The file contains a binder however the file is missing the a copy of the policy.  Additional conditions may apply. - Cured Post Close - Cured Post Close 12/12/2016 Issue Resolution: 12/12/16: Lender provided the hazard insurance declaration for the subject property.  Investor is providing a blanket waiver for purchase transactions closed in the subject property State where the effective date of the hazard insurance is after the Note date but on or prior to the transfer of funds date.  Final grade will be a B non-material on these waived exceptions.	Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Flood Cert Fee was not reflected in section B of the Closing Disclosure despite evidence of a flood cert in the file.  The Flood Cert fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided. - Rescind - Rescind 12/12/2016 Issue Resolution: 12/12/16: Lender provided an attestation that they absorb all costs associated with the flood certificate. Condition rescinded.; Missing seller’s Closing Disclosure - Seller's CD was not provided in the file. - Cleared - Cleared 12/14/2016 Issue Resolution: 12/14/2016:  Seller CD provided, condition cleared.	Missing Appraisal Completion Cert - The subject appraisal was reflected as "subject to" and is missing the 442.  Please provide a 442. Additional conditions may apply. - Rescind - Rescind 12/12/2016 Issue Resolution: 12/12/16: Upon further review, appraisal in file is marked "as is". Condition rescinded.	DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 39.30 months reserves
226	per data	2	1	2	1	Missing copy of title - Missing copy of the title equal to the loan amount (Commitment in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.) - Cleared - Cleared 02/06/2017 Issue Resolution: 02/06/17: Lender provided a revised title commitment, showing policy will reflect the amount of insurance. Condition cleared. ; Missing Third Party Fraud Tool (Report) - The file is missing a complete third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Document in file is incomplete with missing pages. Additional conditions may apply - Cleared - Cleared 02/07/2017 Issue Resolution: 02/07/17: Lender provided the complete fraud tool. No outstanding issues noted. Condition cleared. 02/06/17: Lender provided the first page of the third party fraud tool. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Document in file is incomplete with missing pages. Additional conditions may apply. Condition maintained.	Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for. - Missing "Valid" WLSP. The WLSP in file does not refer to the language allowing the borrower to review fees you can shop for in section C of the LE. - Cured Post Close - Cured Post Close 02/02/2017 Issue Resolution: 02/01/2017:  Audit calculated section B and C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B. ; Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Missing evidence of borrower receipt of initial Closing Disclosure 3 business days prior to consummation. The initial CD is dated XX/XX/XXXX; when factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met. [Lender not open on Saturday] - Cleared - Cleared 02/17/2017 Issue Resolution: 02/07/17 Per TRID guides sec 1026.2(a)(6), the definition of a business day, for the receipt of the CD is all calendar days except Sunday. Lender provided evidence of receipt of initial CD, therefore, 3 day timing requirement met. Condition cleared. 02/06/17: Lender provided evidence of receipt of the initial closing disclosure date XX/XX/XXXX. The Initial Closing Disclosure Acknowledgement Date is not greater than or equal to 3 Specific Business Days to Note Date.  CD XX/XX/XXXX acknowledged XX/XX/XXXX, note date XX/XX/XXXX. XX/XX/XXXX Friday, (Closed Saturday), XX/XX/XXXX Monday, XX/XX/XXXX, Tuesday. Condition maintained. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - Lender reported a credit of $145 to the Appraisal Fee in Section B; This should be reported only in Section J as a lender credit.  - Cured Post Close - Cured Post Close 02/21/2017 Lender Response: Borrower signed CD at consummation with cure.  Issue Resolution: 02/08/17: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B. Condition cleared.02/06/16: CD showing cure in the file, however, on the final closing disclosure, under section B, appraisal fee reflects a ($175.00) fee paid to borrower. Any lender credits need to be reflected in section J as a lender credit. Please provide a letter of explanation to the borrower, and corrected CD within 60 days of closing. Condition maintained. ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $475 with no resulting COC for any subsequent disclosures. The Final CD reflects an Appraisal fee of $620 resulting in a $145 refund due for cure.  - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 02/01/2017:  A RESPA Appraisal fee charge cure on the final CD.  The loan will be rated a B for Fitch and A for others. ; Loan Estimate document error - The LE dated XX/XX/XXXX is missing the lenders phone number and/or email address. - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 02/01/2017:  This is a non-material issue. Information is on CD.  The loan will be rated a B.; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. - Cleared - Cleared 02/06/2017 Issue Resolution: 02/06/17: Lender provided the Borrower's and Co-Borrower's Consent to Receive Communications Electronically. Condition cleared.	Comps contain excessive gross adjustments - Added: 02/07/17: Appraisal contains excessive gross and net adjustments. Comparable 1: Gross 61%, Net: 54%, Comparable 2: Gross, 30%, Net 22%, Comparable 3: Gross 64%, Net 61%. Explanation was not provided. Additional conditions may apply.   - Cleared - Cleared 02/17/2017 Issue Resolution: 2/13/2017:  Copy of addendum to the appraisal dated XX/XX/XXXX provided satisfactorily addressing the excessive gross and net adjustments, condition cleared.	FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 714; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #35.30 months excess reserves; Years Self Employed Borrower self-employed 11 years
220	per data	2	2	2	1	Missing final application (1003) - Missing the final loan application (1003).  Additional conditions may apply. - Cleared - Cleared 01/24/2017 Issue Resolution: 1/24/2017:  Final 1003 provided, condition cleared. ; Missing verbal verification of employment - Missing the verbal verification of employment for both borrowers.  The VVOE is in the loan file however, it missing the borrower's date of employment. - Cleared - Cleared 01/24/2017 Issue Resolution: 1/24/2017:  Satisfactory VVOE for both borrowers provided, condition cleared. ; Missing 4506-T - Missing the final executed 4506-T for the borrower's primary business listed on his initial loan application and the final executed 4506-T's for businesses 1, 2 and 3 listed on the form 8582, Worksheet 3. - Cured Post Close - Cured Post Close 02/21/2017 Issue Resolution: 1/24/2017:  Signed 4506-T provided for Businesses 1, 2, and 3, however dated post close.  Signed 4506-T is not an appendix Q requirement. Pre-consummation docs in file include paystubs, verbal verification of employment, last 2 years W-2s, last 2 years business tax returns and personal tax returns. All appendix Q requirements were met. Loan will be graded a B for lender guideline variance.  ; Missing Lease agreement - Per Appendix Q, both IRS Form 1040 Schedule E and a current lease/rental agreement are necessary to verify all consumer rental income in order for the loan to be classified as a Qualified Mortgage.  Missing active lease agreement for second, third and fourth properties listed on Schedule of Real Estate Owned.     - Cleared - Cleared 02/17/2017 Issue Resolution: 02/14/17: Lender provided a revised LOE stating the tenants are still occupying the property now and prior to closing, and paying as agreed. Condition cleared. 02/07/17: The letter provided does not verify the tenants were still occupying the property prior to or at closing, this is required in order to be QM compliant.  Letter only verifies that the lease turned to a month to month. Condition maintained. 1/24/2017:  Received copy of current leases for properties #3 and #4, however, lease for property #2 expired on XX/XX/XXXX.  QM requires that rental income be documented through schedule E tax returns and current lease agreements.  This verification must be completed prior to closing, in order for the loan to be deemed QM compliant.	Missing Special Information Booklet / Home Loan Toolkit - The loan file is missing a copy of the Home Loan Tool Kit as evidence it was provided to the borrowers. - Cleared - Cleared 01/24/2017 Issue Resolution: 1/24/2017:  Evidence that the Home Loan Tool Kit was provided to the borrowers within 3 days of the initial application provided, condition cleared. ; Missing Mortgage - Missing the Mortgage/Deed of Trust.  Additional conditions may apply. - Cleared - Cleared 01/24/2017 Issue Resolution: 1/24/2017:  Copy of the Deed of Trust provided, condition cleared. ; Missing Note - Missing the Note from the loan file.  Additional conditions may apply. - Cleared - Cleared 01/24/2017 Issue Resolution: 1/24/2017:  Copy of the Note provided, condition cleared.; Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for. - The WLSP in the loan file is missing the required verbiage to direct the borrower to refer to section C of the LE for the option of fee to SHOP FOR. - Cured Post Close - Cured Post Close 01/12/2017 Issue Resolution: 01/12/2016:  Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.; Total of Payments is not accurate - Condition added 1/24/2017:  The CD dated (XX/XX/XXXX) reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $XX.XX.   - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 1/24/2017:  Over-disclosure of TOP is non-material, loan will be graded a B. ; Closing Disclosure document error - Condition added 1/24/2017:  Second appraisal fee not disclosed on CD.  Additional conditions may apply.  - Cured Post Close - Cured Post Close 01/30/2017 Issue Resolution: 1/30/2017:  Post close CD provided reflecting the second appraisal along with the payee and the lender paid portion.  There was also a $75 cure required for the 2nd AMC fee that was not disclosed to the borrower.  Copy of the notification of error, copy of the $75 check to cure, and proof of delivery provided, loan will be graded a B.	Appraisal not provided - Condition added 1/24/2017:  Second appraisal not provided.  Two appraisals required per Investor Guidelines for loan amounts greater than $1,000,000.00.  - Cleared - Cleared 01/25/2017 Issue Resolution: 1/25/2017:  Second appraisal provided, condition cleared.	DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves
214	per data	2	2	1	1	General Credit Exception - Lender did not provide an ATR/QM status determination supporting Pass status for QM Safe Harbor qualification. - Cleared - Cleared 01/27/2017 Issue Resolution: 1/27/2017:  QM status provided, condition cleared. 1/26/2017:  Compliance report not attached, nor was it provided in the loan file, condition remains. ; Missing asset documentation - Missing proof of deposit of $XX,XXX gift funds to borrower account. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/26/2017:  Evidence of receipt of the $XX,XXX gift provided.   Please note, this amount was applied to the borrowers 401K loan.  Assets have been updated accordingly, condition cleared. ; Missing verbal verification of employment - The VVOE was not obtained within 10 days of note date and prior to date of closing.  - Override - Acknowledged 02/17/2017 Issue Resolution: 2/13/2017:  Compliance has reviewed and determined that two years of employment verification was provided prior to consummation, therefore QM requirements were met and all required documentation was provided pre-consummation. Written verification of employment dated 39 days prior to note date in file pre-consummation verified current ongoing employment, but it was outside of client's 10 day requirement. Client approved exception for the VVOE that was obtained after the note date, but on the disbursement date, this is considered non-material and the loan will be graded a B.   1/31/2017:  VVOE dated after note date, but on the disbursement date, loan will be graded a B.  1/27/2017:  VVOE along with a LOE provided, however lender will need to submit an exception request to investor for approval due to VVOE that is in file is dated after the Note date and the printout from the 3rd party vendor dated XX/XX/XXXX is not available.   1/26/2017:  Lender provided the VVOE, however is dated after the Note date.   Per the investor guidelines, the 10 business day time from is measured from the date of the request to the third party vendor, not the date the information was updated in the vendor's database, condition remains.	Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $525.00 with no resulting Change-of-Circumstance for any subsequent disclosures. The Final CD reflects an Appraisal Fee of $610.00.  These fees are in a 0% tolerance section. Lender tolerance cure of $95.00 is required.    - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 01/20/2017:  The Final CD provided in the loan file reflects a tolerance cure of $95.00, which is sufficient.  Loan will be rated a B for Fitch and A for all other agencies.; Initial Closing Disclosure timing requirement not met - Rescindable transactions require that the Closing Disclosure must be given separately to each consumer who has the right to rescind under TILA (see § 1026.23).  Although the Disclosure History provided in the file evidences that the Initial CD was acknowledged by the borrower through an e-signature, there is no evidence that a separate Initial CD was acknowledged by the borrower's spouse. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/27/2017:  CD with wet signature from borrower's spouse dated XX/XX/XXXX provided, condition cleared.  ; Missing E Consent Disclosure - Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclosure for the borrower. - Cleared - Cleared 01/26/2017 Issue Resolution: 1/26/2017:  Copy of the e-consent for the borrower provided, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.68%; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 14.20 months reserves
280	per data	2	1	2	1		Missing Special Information Booklet / Home Loan Toolkit - Missing Home Loan Toolkit and evidence of issuance within 3 days of application. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/26/2017:  Audit has reviewed and determined that the Lenders Application date was XX/XX/XXXX per page 252.  Lender provided evidence that they provided the Home Loan Toolkit within 3 days of the Lenders Application date, condition cleared. ; ECOA Non-Compliant: Appraisal disclosure not provided within 3 days of application. - The Appraisal Disclosure is dated XX/XX/XXXX and the application date is XX/XX/XXXX.  Missing evidence of borrower receiving the Appraisal Disclosure within 3 business days of application.   - Rescind - Rescind 02/17/2017 Issue Resolution: 1/26/2017:  Audit has reviewed and determined that the Lenders Application date was XX/XX/XXXX per page 252.  The Lender did provide the initial documents with 3 days of the Lenders Application date, therefore condition is rescinded.   ; Initial LE not provided within 3 standard business days of application - The initial LE is dated XX/XX/XXXX and the application date is XX/XX/XXXX.  Missing evidence of borrower receiving the initial LE 3 business days of application.   - Rescind - Rescind 02/17/2017 Issue Resolution: 1/26/2017:  Audit has reviewed and determined that the Lenders Application date was XX/XX/XXXX per page 252.  The Lender did provide the initial documents with 3 days of the Lenders Application date, therefore condition is rescinded.  ; Total of Payments is not accurate - The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX. - Cured Post Close - Cured Post Close 01/19/2017 Issue Resolution: 01/19/17: Non material, loan will be graded a B.; Loan Estimate document error - The LE dated # is missing the lenders phone number and/or email address. - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 01/19/17: Non material, information is on CD, loan will be graded a B.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 786; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #29.80 months excess reserves
286	per data	2	1	2	1	General Credit Exception - Executed Home Equity Line of Credit (HELOC) closure letter reflecting HELOC was frozen and closed was not provided in the file. - Cleared - Cleared 02/06/2017 Issue Resolution: 02/06/17: Lender provided the closure letter for the HELOC. Condition cleared. ; Missing Documentation - Lender did not provide an ATR/QM status determination supporting Pass status for QM Safe Harbor qualification. - Cleared - Cleared 02/08/2017 Issue Resolution: 02/08/17: Lender provided the report showing QM Safe Harbour. Condition cleared. 02/06/17: Lender provided the report, however does not provide the QM Safe Harbour status determination. Condition maintained.	Affiliated Business Disclosure not provided within 3 business days of application date. - Affiliated Business Disclosure provided in the file was dated XX/XX/XXXX, which was not within 3 business days of application date. - Cleared - Cleared 02/17/2017 Lender Response: The loan file has in it a Correspondent Affiliation Cert. This information is included and this is a correspondent loan and we didn’t do the initial disclosures at initial app. Issue Resolution: 02/06/17: Attestation provided. Condition cleared. ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflected a Credit Report Fee of $49.00 and no Closing Coordination Fee or Document Prep Fee and there was no resulting CoC for any subsequent disclosures.  The final CD reflects a Credit Report Fee of $50.00, Closing Coordination Fee of $195.00 and Document Prep Fee of $125.00.  These fees are in a 0% tolerance section. Lender tolerance cure of $321.00 is required.   - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 01/31/2017:  The Final CD provided in the loan file reflects a tolerance cure of $321.00, which is sufficient.  Loan will be rated a B for Fitch and A for others.; Total of Payments is not accurate - The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX.   - Cured Post Close - Cured Post Close 01/31/2017 Issue Resolution: 01/31/2017:  This finding is not material. Loan will be graded a B for all agencies.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.76%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #50 months excess reserves
107	per data	2	1	2	1	Missing Documentation - Missing source of all large deposits into borrower's bank account. Additional conditions may apply. - Cleared - Cleared 01/13/2017 Lender Response: 11/10/16:  Large deposits: The June 30th deposit for $XX,XXX.XX, but it is payroll. If you look at the bank statements, he gets paid on the 15th and 30th of every month. We have lots of checks clear back to April that should show that a deposit of $XX,XXX.XX on June 30th is normal and customary. Issue Resolution: 11/11/16: Large deposits sourced. Condition cleared. ; Missing copy of title - Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.) Title expired XX/XX/XXXX. - Cleared - Cleared 01/13/2017 Issue Resolution: 11/01/16: Lender provided the Schedule A from the title company reflecting the amount of insurance that will ultimately be on the title policy. Condition cleared. ; Missing final application (1003) - Final application to be updated to include the borrower's investment property under Schedule of Real Estate Owned on the final application.  - Cleared - Cleared 11/15/2016 Issue Resolution: 11/15/2016:  Updated application provided reflecting the borrower's investment property under the Schedule of Real Estate, condition cleared. ; Missing asset documentation - Missing Two consecutive months of bank statements for asset accounts listed on application. (1003) Missing XX/XX bank statements.  - Rescind - Rescind 01/17/2017 Lender Response: 11/10/16: We have two accounts #XXXX and #XXXX & #XXXX: We have a bank statement for XX/XX to XX/XX AND there is a printout thatis on top of that statement from XX/XX through XX/XX.? #XXXX: We have a statement dated XX/XX to XX/XX, XX/XX to XX/XX and XX/XX to XX/XX2016.  We shouldn’t need to have XX/XX statements based on the above documentation.  Issue Resolution: 11/11/16: Bank statements are dated within 90 days of the note date. Condition rescinded.	General Compliance Exception - The borrower was not charged for the credit report and credit supplement in file on the final CD. Additional conditions may apply.  - Cleared - Cleared 11/11/2016 Issue Resolution: 11/11/16: Lender provided an attestation that the credit report and credit supplement fee are included in the origination charge or paid by the lender. Condition cleared. ; HUD Homeownership Counseling Disclosure not provided within 3 days of application - HUD Homeownership Counseling Disclosure with list of agencies not provided within 3 days of application.  - Cleared - Cleared 11/01/2016 Issue Resolution: 11/01/16: Lender provided the HUD Homeownership Counseling Disclosure with the list of agencies dated within 3 days of the application date. Condition Cleared. ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee name of $400.00 with no resulting CoC for any subsequent disclosures. The final CD reflects an Appraisal Fee of $450.00 resulting in a $50.00 refund due for cure.   - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 10/18/2016: Final CD shows a sufficient tolerance cure in the amount of $50.00. Loan will be graded a B for Fitch and A for others. Condition cleared.; Incorrect disclosure of DID SHOP Fee (Section C) & Recording Fee (Section E) - The Title-Search Fee in section C of the final Closing Disclosure is missing the name of the service provider (Title Closer is what it states) - Cured Post Close - Cured Post Close 12/06/2016 Issue Resolution: 12/6/2016:  Received updated notification of error addressing that the payee for title search fee was updated long with the removal of the title escrow fee as this was not charged, loan will be graded a B. 11/30/2016:  Received copy of the Notification of Error, however the notification does not address that the payee for title search fee was updated long with the removal of the title escrow fee as this was not charged, please provide.  11/11/16: Lender provided the corrected CD. Please provide the LOE to the borrower. Condition maintained. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete. The License Number of the Settlement Agent is missing. - Cured Post Close - Cured Post Close 11/30/2016 Lender Response: 11/09/16: The title companies in the subject property State are not required to have a license number.  Issue Resolution: 11/30/2016:  Received post close CD listing the title companies DOS ID# along with a copy of the notification of error addressed to the borrower, loan will be graded a B.  11/15/2016:  According to our compliance department, title companies located in the subject property State are required to list their DOS ID#,  condition remains. 11/10/16: Sent to compliance for review.  Will advise as soon as possible.; Transfer tax Fees on C.D. exceeds corresponding LE fees (0% Tolerance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects Transfer Taxes of $6640.00 with no resulting COC for subsequent disclosures. The final CD reflects taxes in Section E of $6894 resulting in a variance of $254.00. Refund for cure due. - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 10/18/2016: Final CD shows a sufficient tolerance cure in the amount of $254.00. Loan will be graded a B for Fitch and A for others.  Condition cleared.; Closing Disclosure document error - Under Section C Fees the Title-Escrow Fee on the final CD does not have a dollar amount.  - Cured Post Close - Cured Post Close 12/06/2016 Issue Resolution: 12/6/2016:  Received updated notification of error addressing that the payee for title search fee was updated long with the removal of the title escrow fee as this was not charged, loan will be graded a B.  11/30/2016:  Received copy of the Notification of Error, however the notification does not address that the payee for title search fee was updated long with the removal of the title escrow fee as this was not charged, please provide.  11/11/16: Lender provided the corrected CD. Please provide the LOE to the borrower. Condition maintained.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves
279	per data	2	1	2	1	General Credit Exception - File is missing quit claim deed for non-vested spouse. Additional conditions may apply. - Rescind - Rescind 02/01/2017 Lender Response: 1/31/2017:  The Non Vested Spouse is not a borrower and therefore was not added to title, she did sign the DOT to perfect the community property verbiage but borrower did not want wife vested on title. Therefore, we would like to ask that this condition be re-considered and cleared if possible. Issue Resolution: 2/1/2017:  Audit has reviewed and determined that the non-borrowing spouse does not need to be on title.   Non-borrowing spouse did sign the deed of trust and the right to cancel, therefore condition is rescinded. ; Hazard Insurance Shortfall - Hazard insurance declaration reflects replacement cost coverage limit of $380,000 @ 125% with the note reflecting $XXX,XXX for a shortfall of $XXX,XXX; No replacement cost estimate was provided by the insurer. Please provide the insurer's replacement cost estimate showing sufficient coverage. Additional condition may apply. - Cleared - Cleared 02/17/2017 Issue Resolution: 2/1/2017:  Cost to rebuild from insurer provided, verifying sufficient coverage was provided, condition cleared.  ; Missing copy of title - Missing copy of the title, equal to the loan amount. Title in file does not reflect the correct amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy. Additional conditions may apply.  - Cleared - Cleared 02/17/2017 Issue Resolution: 02/07/17: Lender provided a copy of the title commitment showing $XXX,XXX. Condition cleared. ; Missing 4506-T - Missing the initial signed 4506-T for the borrower. Per Lender guidelines; a signed 4506-T is required at application and at closing.  - Cleared - Cleared 02/01/2017 Issue Resolution: 2/1/2017:  The initial signed 4506-T provided for the borrower, condition cleared.	Total of Payments is not accurate - The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX. - Cured Post Close - Cured Post Close 01/25/2017 Issue Resolution: 01/25/17: Non Material, loan will be graded a B. ; Initial Closing Disclosure timing requirement not met - Rescindable transactions require that the Closing Disclosure must be given separately to each consumer who has the right to rescind under TILA (see § 1026.23).  There is no evidence in the file that the Initial CD was acknowledged by the non-borrowing spouse. - Cleared - Cleared 02/17/2017 Issue Resolution: 2/1/2017:  Copy of initial CD provided showing non-borrowing spouse wet signature on XX/XX/XXXX, which is within 3 days of consummation, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 30.79%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Years in Field Borrower has 16 years in the field.
152	per data	2	1	2	1	Hazard Insurance Shortfall - Hazard insurance declaration reflects gross replacement cost coverage limit of $XXX,XXX with Note reflecting $XXX,XXX for a shortfall of $XXX,XXX; No replacement cost estimate is provided by the insurer. - Cleared - Cleared 01/13/2017 Issue Resolution: 11/3/2016:  Copy of the value replacement cost valuation provided from the insurer verifying the estimated reconstruction cost to be $XXX,XXX, therefore the this hazard insurance declaration page that was provided in the loan file is showing sufficient coverage, condition cleared.	HUD Homeownership Counseling Disclosure not provided within 3 days of application - The HUD Homeownership Counseling Disclosure with the list of agencies provided within 3 days of application was not provided in file.  - Cleared - Cleared 10/31/2016 Issue Resolution: 10/31/2016:  The HUD Homeownership Counseling Disclosure with the list of agencies provided within 3 days of application, condition cleared.  ; Revised LE provision timing requirement to consummation not met - The re-disclosed LE reflects a Date Issued of XX/XX/XXXX. Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to consummation of XX/XX/XXXX. - Cleared - Cleared 01/17/2017 Issue Resolution: 10/31/2016:  Signed LE dated XX/XX/XXXX provided, timing requirement met, condition cleared. ; Total of Payments is not accurate - Condition added 11/3/2016: with the post close CD,  TOP over-disclosed by $3.88, none-material loan will be graded a B.   - Cured Post Close - Cured Post Close 11/03/2016 Issue Resolution: 11/3/2016:  TOP over-disclosed by $3.88, none-material loan will be graded a B.  ; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $XXXX a month versus. the calculated value of $XXXX a month. The lender used the incorrect amount of $XX for hazard insurance versus the actual amount of $XXX. - Cured Post Close - Cured Post Close 11/30/2016 Lender Response: 11/21/16: Details regarding Hazard Insurance and Tax information incorporated into the Post close CD.  Hazard insurance estimated monthly cost of $XXX ($XXXX  / 12 months = $XXX (rounded to .XX).2016 Property Taxes estimated monthly cost of   $XXX (XXXX/12 months = $XXX (rounded to .XX) $XXXX Total Estimated. The POC payment was made after closing, not prior, explaining why an amount was not listed as POC on the Final Closing Disclosure. I have completed another Post Consummation CD to include the amount of $XXXX as POC. ( “Paid before Closing” for TRID) The borrower paid a total of $XXXX (Policy) + $XX (Agent/Service Fee) = $XXXX Total Amount Due/Paid. the Hazard insurance company received the funds from closing. However, because the borrower paid the premium before the check from closing was received, borrower has a credit in line to be refunded, by the hazard insurer, as the premium was paid in full. Property Taxes: I previously addressed this with my initial email advising that the 2016 Tax Cert was available, therefore, I incorporated the updated amount to provide the latest information available, to the borrower, in our post consummation CD. Issue Resolution: 11/30/2016:  Lender provided post close CD reflecting the correct hazard insurance premiums paid along with a copy of the notification of error to the borrower.  The title company has also provided their Alta Statement along with their ledger verifying cash back to the borrower was $XXXX, loan will be graded a B.  11/21/16: Lender provided the corrected CD, however we are missing the LOE and evidence of mailing to the borrower. Condition maintained. 11/10/2016:  Post close CD and notification of error provided, however the hazard insurance is reflected as $XXX but the declaration page shows the premium as $XXXX, please clarify. Also, it appears the borrower received $XXXX cash-back at closing for overpayment of fees, a copy of the refund check was not provided in the loan file, please provide.  11/3/2016:  A post closing disclosure provided indicates the Estimated Taxes, Insurance and Assessments as $XXXX a month versus. the calculated value of $XXXX a month. Appears the lender used XX for hazard insurance per the post close CD versus the actual amount of $XXX (the $XXX is based off of the premium provided in the loan file.   If the premium was reduced, please provide updated declaration page.    Also, it appears the borrower received $XXXX cash-back at closing for overpayment of fees, a copy of the refund check was not provided in the loan file, please provide.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 21.20 months reserves; Years on Job Borrower has 22 years on Job
78	per data	2	2	2	1	Hazard Insurance Shortfall - The Hazard insurance policy reflects the amount of coverage as $XXX,XXX with 110% extended replacement costs.  The estimated replacement costs was $XXX,XXX, coverage of $XXX,XXX and a shortfall of $XX,XXX.  - Cleared - Cleared 01/13/2017 Issue Resolution: 11/02/16: Lender provided the corrected CD, LOE to the borrower,evidence of mailing and receipt of payment of $276.06. Condition cleared.10/24/2016:  Updated hazard insurance policy reflecting sufficient coverage provided, however there is $270.17 balance due.  Please provide evidence that the premium has been paid in full.  Also required, an updated CD reflecting the correct premium amount in Section F and updating the Estimated taxes, insurance & assessments reflecting $1339.96 vs. $1317.44.  Please note that a letter of explanation to the borrower must also be issued.; Missing hazard insurance declaration - The Hazard Insurance Policy in the loan file was in effect after the Note date. - Override - Acknowledged 11/08/2016 Issue Resolution: 10/11/2016:  Exception granted for properties located in CA, when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.; Missing Balance Sheet - Missing 2016 Balance Sheet for Borrowers' Partnership.  Per appendix Q, a Balance Sheet is required; in order for the loan to be classified as a Qualified Mortgage. - Cleared - Cleared 10/21/2016 Issue Resolution: 10/21/2016:  Balance sheet provided. Statement reflects no liabilities that would effect the income used to qualify, condition cleared.	Incorrect disclosure of DID SHOP Fee (Section C) & Recording Fee (Section E) - The Pest Inspection, Title fees are reflected in section C of the final Closing Disclosure.  The borrower selected a service provider from the WLSP for pest inspection and title services.  The title services and pest inspection fees should be listed in section B of the CD.   - Cured Post Close - Cured Post Close 10/27/2016 Issue Resolution: 10/20/2016:  Post close CD provided reflecting the pest inspection in section B, along with a copy of the notification of error to the borrower, condition cleared, however please see addition condition added.  Loan will be graded a B.   10/19/2016:  Audit has reviewed and determined that the title fees are okay as listed in Section C due to the borrower did not chose a provider from the WLSP, only the Pest Inspection should be listed in Section B due to this service provider was listed on the WLSP.  Please provide updated CD and copy of the notification of error addressed to the borrower.   ; Closing Disclosure document error - Condition added 10/20/2016:  The cash to close on the Borrower's Final Settlement Statement dated XX/XX/XXXX on page 41 does not match the cash to close on the revised CD issued on XX/XX/XXXX. Per regulation (§ 1026.19(f)(2)(iii), creditors must provide a corrected Closing Disclosure if an event in connection with the settlement occurs during the 30-calendar-day period after consummation that causes the Closing Disclosure to become inaccurate and results in a change to an amount paid by the consumer from what was previously disclosed.  It appears there was a reduction in closing costs per the Borrower’s Final Settlement Statement (including prepaid interest) as compared to the revised CD issued on XX/XX/XXXX.  The file did not contain a copy of the refund provided to the consumers.    - Cured Post Close - Cured Post Close 01/13/2017 Issue Resolution: 10/27/2016:  Post close CD and copy of the notification of error provided reflecting the correct cash to close which coincides with the Final Settlement statement dated XX/XX/XXXX.  Copy of the refund check for $501.31 from disbursement for excess cash to close provided which also coincides with the Final Settlement Statement.   Loan will be graded a B.   ; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent  disclosure for the borrowers. - Cleared - Cleared 10/21/2016 Issue Resolution: 10/21/2016:  E-Consents for both borrowers provided, condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 730; No Mortgage Lates No Mortgage lates in excess of 24 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.8 months excess reserves
24	per data	1	1	1	1	Missing copy of title - Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy) - Cleared - Cleared 01/13/2017 Issue Resolution: 09/06/16: Lender provided a copy of the Commitment for Title Insurance showing the policy amount of $XXX,XXX. Condition cleared. ; Cash Out Amount Exceeds Guideline Maximum - Condition added 9/19/2016: Post close CD reflects cash out in the amount of $XXXX which exceeds the maximum permitted of $2000.  - Cleared - Cleared 10/05/2016 Issue Resolution: 10/5/2016:  Received post close CD showing $XXXX cash back to borrower, along with the notification or error,  condition cleared.	3 day rescission period not provided - The Right to Cancel form was executed on XX/XX/XXXX and reflected an expiration date of XX/XX/XXXX with funding dated XX/XX/XXXX per the final CD; Borrower not provided 3 day rescission period. - Cleared - Cleared 01/13/2017 Issue Resolution: 09/23/16: Lender provided the letter to the borrower explaining the correct dates, copy of refund check, copy of the corrected CD and evidence of delivery. Condition cleared. 09/22/16: Evidence of disbursement date provided, however missing the letter to borrower) explaining this correction made. Condition maintained.9/19/2016:  Copy of the re-disclosed CD provided showing a revised disbursement date of XX/XX/XXXX, however please provide evidence that indeed the loan did not disburse until XX/XX/XXXX ie..copy of internal screen shot showing the funding/disbursement date.  Please also provide notification of the error (i.e., the letter to borrower) explaining this correction made.  Also, please see additional conditions added for the 3 additional fees that were added to section B on this post close CD (this was escalated to compliance for review and we will advise as soon as possible) AND borrower received greater than $2000 cash back at closing, which exceeds guidelines.  ; Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C - The Origination Charges in Section A are subject to 0% variance.  LE dated XX/XX/XXXX reflects a Discount Charge of $0 with no resulting COC for any subsequent disclosures.  Final CD reflects a Discount Charge of $XXXX for a refund required of ($XXXX). - Cleared - Cleared 01/17/2017 Issue Resolution: 09/06/16: Lender provided the CoC provided on the change affecting settlement charges. The rate lock was adjusted on XX/XX/XXXX based on the new FICO score, which in turn, happened because the borrower purchased a new car with a car loan resulting in an additional discount fee of $XXXX charged to the borrower. Condition cleared. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Final CD Section B reflects an Appraisal review fee of $100 paid to lender; The fee should be reflected in Section A. - Cured Post Close - Cured Post Close 10/05/2016 Issue Resolution: 10/5/2016:  Post close CD provided listing the $100 refund in with the total lender credits so it now reads $1812.50 not $1712.50 on line J of the CD.  Notification of error was also provided, loan will be graded a B for Fitch and A for others.  9/19/2016:  Copy of $100 refund check along with notification of error and post close CD provided, however per Compliance, you need to include the $100 in with the total lender credits so it should read $1812.50 not $1712.50 on line J of the CD, even if the $100 was POCL. Otherwise, it just appears that the credit total was $1712.50 and the $100 refund was included in that total. Please provide updated CD and copy of the notification of error.   showing the funding/disbursement date.  Please also provide notification of the error (i.e., the letter to borrower) explaining this correction made.  Also, please see additional conditions added for the 3 additional fees that were added to section B on this post close CD (this was escalated to compliance for review and we will advise as soon as possible) AND borrower received greater than $2000 cash back at closing, which exceeds guidelines. ; Closing Disclosure document error - Condition added 9/19/2016:  3 additional fees (title - doc prep, title endorsement, and title processing) were added to section B on the post close CD that was provided - this has been escalated to compliance for review to determine if this is permitted and will advise as soon as possible.  - Cleared - Cleared 10/05/2016 Issue Resolution: 10/5/2016:  Received post close CD removing the 3 fees in questions, these were added in error per the notification of error to the borrower, condition cleared. 9/20/2016:  Per Compliance, the 3 fees that were added to Section B (title-doc prep $50, Title-Endorsement $140, and Title Processing $75) are considered title requirements and are required by the current mortgage company, therefore should be reflected in section H.  Please provide updated CD along with a copy of the notification of error to the borrower.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.73%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 717; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #20.21 months excess reserves
3	per data	2	2	1	1	General Credit Exception - Missing 2013 K1 for company #D listed on 2013 1040 Schedule E. - Cleared - Cleared 02/26/2016 Issue Resolution: 02/26/2016 Lender provided proof that business "C" has been dissolved. 02/23/2016  Per CPA letter in file, confirms that business "C" was dissolved in 2012, and business "D" is the replacement corporation,since the borrower relocated. Regarding the 2013 & 2014 business returns in the file, both returns belong to business "D"; and the business name is a clerical error. Audit has confirmed that the EIN for both businesses match business "D", on the 2013 & 2014 return. Still pending confirmation that business "C" was dissolved in 2012. 02/22/2016 Received 2013 K1 for company C, still pending 2013 K1 for company # D. ; General Credit Exception 2 - Missing signed 1120S for company #C shown on 2013 1040 Schedule E. (unsigned copy in file) - Cleared - Cleared 02/22/2016 Issue Resolution: 02/22/22016 Executed 1120s 2013 for company C received.  ; Missing Documentation - Missing evidence verifying mortgage payments and linking mortgages listed on credit report to the 3 rental properties shown on 1003. - Cleared - Cleared 02/22/2016 Issue Resolution: 02/22/2016 Lender provided mortgage statements for all 3 properties, linking mortgages listed on the credit report. ; Missing income documentation - Missing signed 1120S tax returns for company #B shown on 2013 1040 Schedule E. (Unsigned copy in file) - Cleared - Cleared 03/02/2016 Issue Resolution: 03/02/2016: Received signed page 1 of 2013 1120S for company B. Condition cleared.02/22/2016 Received 2014 1120s for company B; however, executed 1120s document is already in the file. Still pending 2013 executed 1120s for company B, shown on the 2013 1040 schedule E. ; Missing Purchase Contract - Missing purchase contract for subject property. Addendum to contract was provided. - Cleared - Cleared 01/26/2016 Issue Resolution: 1/26/2016:  Copy of fully executed purchase contract provided and reviewed, condition cleared. ; Missing Business Tax Returns - Missing 2014 signed 1065 Tax Returns and K-1 for Company #A shown on 2014 1040 Schedule E. (Transcripts are in file) - Cleared - Cleared 03/02/2016 Issue Resolution: 03/02/2016: Lender provided signed 2014 final 1065's and K-1s for company A. Condition cleared.02/23/2016 Per CPA letter in file, borrower changed from filing a 1065 return to reporting the income on schedule E in 2014. Pending proof company "A" was dissolved. 02/22/2016 Received 2013 1120s for company A. Executed document already in file. Still pending executed 2014 1065 for company A, and 2014 K-1.; Missing signed 4506-T - Missing 4506-T signed at application and at closing for all four companies shown on 2014 1040 Schedule E. - Cleared - Cleared 03/02/2016 Issue Resolution: 03/02/2016: Lender provided 4506-T's for all four companies signed during application process. Condition cleared.; Missing Evidence of Taxes and Insurance  - Missing evidence of taxes and insurance for the 3 rental properties shown on 1003. - Cleared - Cleared 02/22/2016 Issue Resolution: 02/22/2016 - Lender provided mortgage statements for all 3 properties, confirming taxes and insurance payments. ; Missing LOE - Missing letter of explanation for recent credit inquiries shown on credit report. - Cured Post Close - Cured Post Close 03/02/2016 Issue Resolution: 03/02/2016: Received inquiry letter dated post close.Condition Cleared. Loan will be graded a B.; Missing Lease agreement - Missing current lease/rental agreement for all 3 rental properties shown on 1003. Per appendix Q , both IRS Form 1040 Schedule E; and a current lease/rental agreement is necessary to verify all consumer rental income; in order for the loan to be classified as a Qualified Mortgage. - Cleared - Cleared 02/22/2016 Issue Resolution: 02/22/2016 Current lease agreements provided for all 3 rental properties. Property # 1 is a three plex, lease agreement for apartment on the second floor is expired. Rental agreement not used, DTI still within guideline.	General Compliance Exception - Missing Seller's CD. - Cleared - Cleared 01/26/2016 Issue Resolution: 1/26/2016:  Seller CD provided, fees updated in the system, condition cleared. ; General Compliance Exception 2 - Missing documentation verifying CD revised after closing was sent to Borrowers. - Cleared - Cleared 01/26/2016 Issue Resolution: 1/26/2016:  Lender provided a copy of E-Sign History verifying final CD dated XX/XX/XXXX (property in escrow state) was sent to the borrowers on 1/23/2016. No further documentation required, condition cleared.; General Compliance Exception 3 - Section H of CD does not list Real Estate commission paid by seller. - Cleared - Cleared 02/18/2016 Issue Resolution: 2/18/2016:  Seller CD provided, system updated with fees, condition cleared.  ; Missing Special Information Booklet / Home Loan Toolkit - Missing Home Loan Toolkit. - Cleared - Cleared 01/26/2016 Issue Resolution: 1/26/2016:  Lender provided a copy of E-Sign History verifying borrowers E-Consented the initial disclosures which included the Home Loan Toolkit on XX/XX/XXXX which was within 3 days of the initial application date.  No further documentation required, condition cleared.; Missing Documentation - Missing signed Intend to Proceed. - Cleared - Cleared 01/26/2016 Issue Resolution: 1/26/2016 Fully executed Notice of Intent to Proceed provided dated 12/28/2015, condition cleared. ; ECOA Non-Compliant: Additional valuation documentation not provided to borrower. - Documentation that CDA and appraisal field review were provided to borrower is missing from file. - Cleared - Cleared 01/25/2016 Issue Resolution: 01/25/2016 Condition not material. Appraisal provided within 3 days of application. ; Loan does not meet criteria for Qualified Mortgage - Missing current lease/rental agreement for all 3 rental properties shown on 1003. Per appendix Q , both IRS Form 1040 Schedule E; and a current lease/rental agreement is necessary to verify all consumer rental income; in order for the loan to be classified as a Qualified Mortgage. Additionally, file is missing signed 1120S tax returns for company #B shown on 2013 1040 Schedule E and missing 2014 signed 1065 Tax Returns and K1 for Company #A shown on 2014 1040 Schedule E, all of which is required for loan to be classified as a Qualified Mortgage. - Cleared - Cleared 03/03/2016 Issue Resolution: 03/03/2016: Received signed & dated 1120S for business B. Condition cleared.03/02/16 Received final K-1 for business A is dissolved. Still pending executed and dated 1120s for business B. 02/29/2016 Executed 1120s for company B provided; however, document is not dated. QM requires signed and dated tax returns for self employed borrowers. Additionally still pending proof company A is dissolved. 02/26/2016 Received proof business C is dissolved. Still pending executed 1120s for company B, and proof company A is dissolved. 02/23/2016 Update to condition: Still pending executed 1120s for company B, and proof company A & C are dissolved to meet QM requirements. 02/22/2016 Received lease/rental agreements for all 3 rental properties. Still pending 2013 K1 for company # D,  executed 2014 1120s for company A, and 2013 executed 1120s for company B, shown on the 2013 1040 schedule E. ; Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Borrower did not receive initial CD 3 days prior to consummation. - Cleared - Cleared 01/26/2016 Issue Resolution: 1/26/2016:  Lender provided a copy of E-Sign History verifying borrower E-Consented the initial CD on XX/XX/XXXX.  No further documentation required, condition cleared.; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - CDA Appraisal Form on LE reflects $150.00 and CD reflects $155.00. - Cleared - Cleared 02/26/2016 Issue Resolution: 2/26/2016:  File was escalated to compliance and the following was been determined: CDs issue prior to XX/XX/XXXX accurately reflect the $5.00 credit for tolerance, however, the XX/XX/XXXX CD issued does not reflect this tolerance cure but reflects an increase in credit in section J – this CD appears to be post consummation issuance due to being in escrow state.  Appears the CD issued on XX/XX/XXXX had a clerical error in not disclosing that since it was present on previous disclosures and issued post consummation.  It appears not to be a tolerance issue just a clerical error in the naming convention verbiage on that disclosure which was corrected in the issuance on the XX/XX/XXXX disclosure, condition cleared.   2/18/2016:  Lender has provided the following:  1). Notification of the error to the borrower - copy of letter provided.   2.)  Re-disclosed Closing Disclosure and proof of delivery of the re-disclosed CD provided. However, Still Pending:  1.) Copy of $5.00 refund check to the borrowers.  2.)  Evidence of overnight shipment of the check to the borrowers for evidentiary purposes.; Missing corresponding W.L.S.P. for Initial L.E. in File DID SHOP Fee (Section C) - The service provider list in file is an old RESPA service provider list and does not list the individual "services" associated with each provider. It is not the service provider list that is under form H-27 in the rule. The WLSP is itself a violation and it is confusing to consumers because it has text that relates to the GFE. - Cleared - Cleared 01/25/2016 Issue Resolution: 01/25/2016 Lender provided initial WLSP with individual services listed. Disclosure provided within 3 days of application. ; Total of Payments is not accurate - Total of Payments on CD is $XXX,XXX vs actual $XXX,XXX. Please provide evidence of re-disclosure. - Cleared - Cleared 02/18/2016 Issue Resolution: 2/18/2016:  Audit has re-calculated the TOP and has found the condition to be incorrect.  $XXX P&I x XXX + $XXX last P&I + $XXX section D + $XXX prepaid interest = $XXX,XXX minus Lenders TOP $XXX,XXX = difference of $X.XX.  TOP is within tolerance limits, therefore the condition has been cleared.   ; Borrower did not acknowledge receipt of initial C.D. 3 days prior to consummation - Borrowers did not acknowledge receipt of initial CD. - Cleared - Cleared 01/26/2016 Issue Resolution: 1/26/2016:  Lender provided a copy of E-Sign History verifying borrower E-Consented the initial CD on XX/XX/XXXX.  No further documentation required, condition cleared.; Information required for CD 'Contact Information' section not completed, or completed in error - CD Contact Information does not show information for Buyer's or Seller's Real Estate Broker. - Cleared - Cleared 02/18/2016 Issue Resolution: 2/18/2016: Re-disclosed CD showing Contact Information for the Buyer's and Seller's Real Estate Broker provided along with proof of delivery of the re-disclosed CD to the borrowers.   Condition cleared.; Final Closing Disclosure Document does not match LE Document values for Escrow – Projected Payment Table - Final CD value for Escrow payment reflects $1,177.03 and LE reflects $1,176.00 - Cleared - Cleared 02/18/2016 Lender Response: 2/17/2016:  The reason the Final CD reflects a slightly higher value for the Escrow payment of $1177.03 is because the actual hazard insurance premium went up from the time it was estimated on the LE with a premium of $1380 to the post consummation final CD correct to show the actual hazard insurance premium about of $1397, which caused the escrow payment to go up slightly.  Issue Resolution: 2/18/2016:  The estimate escrow disclosed on the LE does not need to match what is on the final CD.  (This does not carry any civil or assignee liability). Condition cleared as non- material.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves
188	per data	1	1	1	1		Missing Closing Disclosure / CD Not in File - Missing funding Closing Disclosure. - Cleared - Cleared 12/09/2016 Issue Resolution: 12/9/2016:  Final CD provided and coincides with the final settlement statement, condition cleared. ; Acknowledgement by all parties with a vested interest not documented - Vested non-borrower did not acknowledge final CD - Rescind - Rescind 12/09/2016 Issue Resolution: 12/9/2016:  Audit has reviewed and determined that this is a non-rescindable transaction, therefore the vested non-borrower does not need to acknowledge, condition rescinded.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 789; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 59.60%; Reserves are higher than guideline minimum : UW Guides require 9 months Subject reserves, loan qualified with 282.20 months excess reserves
181	per data	1	1	1	1	Missing appraisal - Appraisal to be corrected as it lists a contract price and date of contract on page one. This is a refinance transaction.  - Cleared - Cleared 11/22/2016 Issue Resolution: 11/22/2016 Corrected appraisal provided. Removing contract date and sales price. Condition cleared.; Missing Payoff Statement - Missing payoff statement for HELOC listed second on Section VI., Assets and Liabilities on final application (1003).  - Cleared - Cleared 11/22/2016 Issue Resolution: 11/22/2016 Payoff statement along with proof HELOC statement closed provided. Condition cleared.	Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for. - Missing Written List of Service Providers for Loan Estimate dated 09/02/2016. - Cleared - Cleared 11/21/2016 Issue Resolution: 11/21/16: Lender provided the WLSP for the LE dated 09/02/16. Condition cleared. ; Funding occurred before RTC Expiration Date - Funding occurred before RTC Expiration date. The Right to Cancel form was executed on XX/XX/XXXX and reflected an expiration date of XX/XX/XXXX. The CD reflects a disbursement date of XX/XX/XXXX. - Cleared - Cleared 01/13/2017 Issue Resolution: 11/21/16: Lender provided the corrected CD, LOE to the borrower, and evidence of funding, which is after the expiration date of the RTC. Condition cleared. ; Missing E Consent Disclosure - Missing E Consent Disclosure.  - Cleared - Cleared 11/21/2016 Issue Resolution: 11/21/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.575%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23.64  months reserves
289	per data	1	1	1	1	Missing Documentation - Executed Home Equity Line of Credit (HELOC) closure letter reflecting HELOC was frozen and closed was not provided in the file. - Cleared - Cleared 01/19/2017 Issue Resolution: 1/19/2017:  Executed HELOC closure letter provided, condition cleared. ; Missing hazard insurance declaration - The effective date of XX/XX/XXXX reflected on the hazard policy was after the Note date. - Rescind - Rescind 02/17/2017 Issue Resolution: 1/19/2017:  Audit has reviewed and determined that the subject is a refinance and the borrowers provided their current policy reflecting effective dates from XX/XX/XXXX-XX/XX/XXXX.  Since the policy expires within 60 days of closing, they also provided their renewal policy reflecting effective dates from XX/XX/XXXX-XX/XX/XXXX.  The initial and the renewal policy were both provided, therefore this condition is not valid as the initial policy was still in place and was not dated after the note date, therefore the condition has been rescinded.  01/13/2017:  Exception granted by client for properties located in CA when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.; Missing final application (1003) - Final loan application (1003) was not provided in the loan file. - Cleared - Cleared 01/19/2017 Issue Resolution: 1/19/2017:  Final executed application (1003) provided, condition cleared.	Funding occurred before RTC Expiration Date - Final Closing Disclosure shows disbursement date of XX/XX/XXXX, which was prior to the expiration of midnight, XX/XX/XXXX. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/17/2017: Subject located in a dry closing state.  Received copy of the final CD from Disbursement verifying the disbursement was XX/XX/XXXX, which was after the RTC expiration date, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.24; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 68.90 months reserves
39	per data	1	1	1	1	Missing copy of title - Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy. - Cleared - Cleared 01/13/2017 Issue Resolution: 11/11/16: Updated preliminary title report provided showing the correct loan amount. Condition cleared.	General Compliance Exception - The subject loan was funded in a dry funding state.  Final settlement statement in file indicates a cash to borrower of $XXX vs the final CD which reflects a cash to close of $XXX with a discrepancy of $XXX.  - Cleared - Cleared 11/11/2016 Issue Resolution: 11/11/16: Lender provided the corrected CD and LOE to the borrower. Condition cleared.; CD Document does not match actual calculated values for Estimated Total Monthly Payment - The final Closing Disclosure does not match actual calculated values for Estimated Total Monthly Payment. The CD shows the payment amount as $3,727.44, the calculated payment amount is $3,843.44.  The lender used the incorrect amount of $116.00 HOA vs. the actual amount of $93.00. - Cleared - Cleared 11/11/2016 Issue Resolution: 11/11/16: Lender provided the corrected CD and LOE to the borrower. Condition cleared.; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,182.70 a month vs. the calculated value of $1,159.71 a month. The lender used the incorrect amount of $116.00 HOA vs. the actual amount of $93.00. - Cleared - Cleared 11/11/2016 Issue Resolution: 11/11/16: Lender provided the corrected CD and LOE to the borrower. Condition cleared.; Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent disclosure for the borrower as E-Consent provided in the file is for co-borrower only and dated XX/XX/XXXX which is after co-borrower e-signed 3 of the Loan Estimates provided in file. - Cleared - Cleared 11/11/2016 Issue Resolution: 11/11/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 751; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66.14%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with #13.10 months reserves
227	per data	1	1	1	1	Failure to obtain Flood Certificate - Flood Certificate was missing from the file. Additional conditions may apply.  - Cleared - Cleared 01/25/2017 Issue Resolution: 1/25/2017:  Flood Certificate provided reflecting subject is not located in a Flood Zone, condition cleared. ; Missing Documentation - Missing Flood Notice To Borrower of Special Flood Hazard and Federal Disaster Assistance Disclosure.Flood certification missing although URAR indicates Zone X - Rescind - Rescind 01/25/2017 Issue Resolution: 1/25/2017:  Flood Cert provided, verifying subject property is not located in a Flood Zone, condition rescinded. ; Missing copy of title - Missing copy of the prelim title equal to the loan amount (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy - Cleared - Cleared 01/25/2017 Issue Resolution: 1/25/2017:  Copy of the prelim title provided, reflecting lenders coverage equal to the loan amount, condition cleared. ; Missing verbal verification of employment - Missing verbal verification of employment for self-employed borrower business #1 per final application. Additional conditions may apply. - Cleared - Cleared 01/25/2017 Issue Resolution: 1/25/2017:  Satisfactory VVOE for borrower provided, condition cleared. ; Missing Evidence of HELOC Draw for the Past 12 Months - Missing 12 months draw history to verify that no draws greater than $2000 has occurred; Additional conditions may apply  - Rescind - Rescind 01/24/2017 Issue Resolution: 1/24/2017:   Review of credit report in the file, reflects a 2 year draw history. HELOC included in cash out total. Condition rescinded	General Compliance Exception - The subject was funded in a dry funding state. Final settlement statement in file indicates a cash-to-borrower of $XXX.XX versus the Final CD which reflects a cash-to-close of $XXX.XX with a discrepancy of $XXX.XX. The file did not contain a copy of the refund provided to the consumer(s); Evidence of refund includes copy of check to borrower, letter of explanation, and copy of shipping label - Cleared - Cleared 02/17/2017 Issue Resolution: 1/25/2017: CD from funding provided (subject located in a dry state) reflecting the cash back to the borrower as $XXX.XX which coincides with the final settlement statement, no further documentation required, condition cleared.; Borrower not provided 3 day rescission period - The final closing disclosure reflects a disbursement date prior to expiration of right to cancel period. The 3 day rescission period was not provided.  - Cleared - Cleared 01/25/2017 Issue Resolution: 1/25/2017:  CD from funding provided reflecting the disbursement as the day after the RTC expiration date, therefore the 3 day rescission period was provided, condition cleared.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of ; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.01%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #14.84 months excess reserves
273	per data	1	1	1	1	Missing copy of title - Missing copy of the prelim title equal to the loan amount. (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy) - Cleared - Cleared 01/20/2017 Issue Resolution: 1/20/2017:  Copy of prelim title provided reflecting lenders coverage equal to the loan amount, condition cleared.	General Compliance Exception - The subject was funded in a dry funding state. Final settlement statement in file indicates a cash-to-borrower of $XX,XXX.XX versus the Final CD which reflects a cash-to-borrower of $XX,XXX.XX for a discrepancy of $X,XXX.XX. No revised funding CD was provided. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/20/2017:  Final CD from disbursement provided, which coincides with the final settlement statement, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.03%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 801; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #5 months excess reserves
54	per data	1	1	1	1	General Credit Exception - Lender did not provide an ATR/QM status determination supporting Pass status for QM Safe Harbor qualification per Pg596. - Cleared - Cleared 09/15/2016 Issue Resolution: 9/15/2016:  Lender provided ATR Worksheet supporting status determination as yes for eligible for Safe Harbor and QM, condition cleared.  ; Missing copy of title - Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the correct amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.) - Cleared - Cleared 01/13/2017 Issue Resolution: 11/22/2016 Updated title policy removing encroachment for the pool and spa as well as the encroachment for driveway/walkway. Condition cleared. 10/12/2016:  Received copy of survey and title commitment, however these were previously provided. We are still unable to determine if the encroachment of the spa/pool deck is less than a foot.  Under exceptions from coverage, number 5, encroachments of the spa/pool deck over the building line as shown on survey. Per investor guidelines, please verify if it’s less than a foot and verification of endorsement from the title company covering this. Condition maintained. 10/07/16: Received copy of title commitment, however under exceptions from coverage, number 5, encroachments of the spa/pool deck over the building line as shown on survey. Per investor guidelines, please verify if it’s less than a foot and verification of endorsement from the title company covering this. Condition maintained. 9/16/2016:  Received copy of title commitment verifying lenders coverage equal to the loan amount, however upon further review of the title, regarding the encroachment of the spa/pool deck over the building line, per investor guidelines, please verify if it’s less than a foot and verification of endorsement from the title company covering this.  9/15/2016:  Escalated to compliance for review of encroachments, will advise as soon as possible.	Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule) - Evidence of borrower's receipt of initial CD 3 days prior to consummation was not provided. The initial CD is not dated within 3 days of the consummation date.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.  Disclosure Tracking provided in file reflects initial CD was previewed on XX/XX/XXXX, however it does not specify that the Initial CD was e-signed or acknowledged by the borrowers on 08/26/2016. - Cleared - Cleared 01/13/2017 Issue Resolution: 9/15/2016:  Lender provided copy of CD with an issue date of XX/XX/XXXX reflecting wet signatures dated XX/XX/XXXX which is at least 3 days prior to consummation.  No further documentation required, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.80%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 685; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12.90 months reserves
290	per data	2	1	2	1		Initial Closing Disclosure timing requirement not met - Rescindable transactions require that the Closing Disclosure must be given separately to each consumer who has the right to rescind under TILA (see § 1026.23).  Although the E Sign Certificate provided in the file evidences that the Initial CD was mailed to the borrower, there is no evidence that a separate Initial CD was mailed to the co-borrower. - Rescind - Rescind 01/20/2017 Issue Resolution: 1/20/2017:  Audit has reviewed and determined that the subject loan is not a rescindable transaction due to subject property is new construction, therefore the condition is not valid and has been rescinded.  1/19/2017:  Information not provided, condition remains. In rescindable transactions, the disclosures required by §1026.19(f) must be given separately to each consumer who has the right to rescind under §1026.23. The E Sign Certificate provided in the file evidences that the Initial CD was provided to the borrower, however, there is no evidence that a separate Initial CD was provided to the co-borrower.; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $407.22 a month versus the calculated value of $1853.23; The lender used the incorrect amount of $206.39 for the Taxes [land-only] versus the actual amount of $1652.40 on completed new construction. - Cured Post Close - Cured Post Close 01/18/2017 Issue Resolution: 1/18/2017:  Post close CD provided reflecting the calculated value of $1853.23, along with a copy of the notification of error.  Loan will be graded a B.  ; Closing Disclosure document error - The Principal Reduction in Section H of the final Closing Disclosure should be reflected in the Payoffs and Payments section on page three of the Closing Disclosure.    - Rescind - Rescind 01/23/2017 Issue Resolution: 01/23/17: Upon further review, principal reduction can be in section H. Condition rescinded. 1/19/2017:  Post close CD provided reflecting the principal reduction in the correct section of the CD, however the notification of error addressed to the borrower does not reflect this change that was made.   Please provide a copy of the updated notification of error regarding the movement for the principal reduction.   1/18/2017:  Escalated to compliance for review, will advise as soon as possible.	570 - Review Appraisal Missing - A CDA report was not provided in file. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/19/2017:  CDA report reflecting a value of $X,XXX,XXX with a -6.9% variance provided. No market or eligibility issues noted and is within the permitted 10% tolerance.  Condition cleared.	FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 737; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #18.78 months excess reserves
33	per data	1	1	1	1	Missing Documentation - Missing evidence of the withdrawals within the last 12 months and evidence the HELOC was closed. - Cleared - Cleared 10/07/2016 Issue Resolution: 10/07/16: Lender provided the signed authorization to close HELOC. Condition cleared. 10/5/2016: Review of credit report in the file, reflects a 26 month draw history. HELOC included in cash out total, therefore a withdraw history within the last 12 months not required, however still pending evidence that the HELOC has been closed. ie..fully executed closure letter addressed to creditor, credit supplement verifying HELOC has been paid off and closed out.     ; Missing copy of title - Missing copy of the prelim title for $XXX,XXX(Prelim in file does not reflect the amount <or the correct amount> of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.) - Cleared - Cleared 01/13/2017 Issue Resolution: 10/07/16: Lender provided the Preliminary Title Report showing the correct amount of  $XXX,XXX. Condition cleared.	Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent disclosure for the borrowers. - Cleared - Cleared 10/07/2016 Issue Resolution: 10/07/16: Lender provided the borrower's Consent to Receive Communications Electronically dated within 3 days of the application date. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 30.73%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 738; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 90.10 months reserves
44	per data	1	1	1	1		Missing E Consent Disclosure - Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclose for the borrowers. - Cleared - Cleared 10/07/2016 Issue Resolution: 10/07/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.
302	per data	2	2	2	1	Missing hazard insurance declaration - Missing hazard insurance declaration; The effective date of the hazard policy is dated XX/XX/XXXX which is after the Note Date in an escrow state.  - Override - Acknowledged 02/17/2017 Issue Resolution: 01/30/17 Exception granted by client for properties located in the subject State when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies; Missing AUS results - File is missing the AUS results. Additional conditions may apply.   - Cleared - Cleared 02/01/2017 Issue Resolution: 2/1/2017:  DU Findings provided reflecting approve/ineligible due to loan amount exceeds the maximum allowable loan limit, condition cleared. ; Missing verbal verification of employment - The verbal verification of employment (VVOE) or employment re-verification must be performed within 10 business days prior to the Note date for a salaried applicant. Additional conditions may apply.  - Cleared - Cleared 02/01/2017 Issue Resolution: 2/1/2017:  Lender provided the VVOE dated within 10 days prior to the Note date, condition cleared. ; Missing 4506-T - Missing initial 4506-T; Per lender guidelines; a signed 4506-T is required at application and at closing. Additional conditions may apply. - Cleared - Cleared 02/01/2017 Issue Resolution: 2/1/2017:  Initial Signed 4506-T provided for the borrower, condition cleared. ; Incomplete Documentation - Page 5 of final loan application is missing. Additional conditions may apply.  - Cleared - Cleared 02/01/2017 Issue Resolution: 2/1/2017:  Page 5 of the final loan application provided, condition cleared.	General Compliance Exception - The subject was funded in a dry funding state. Final settlement statement in file indicates a cash-to-close of $XXX,XXX.XX versus the Final CD which reflects a cash-to-close of $XXX,XXX.XX with a discrepancy of $XXX.XX. The file did not contain a copy of the refund provided to the consumer(s); Evidence of refund includes copy of check to borrower, letter of explanation, and copy of shipping label - Cleared - Cleared 02/17/2017 Issue Resolution: 2/2/2017:  Lender provided a copy of the Final Settlement Statement, which now coincides with the CD from Funding, condition cleared. 2/1/2017:  Final settlement statement in file indicates a cash-to-close of $XXX,XXX.XX versus the Final CD that was provided which reflects a cash-to-close of $XXX,XXX.XX with a discrepancy of $XX, please clarify.  Per the settlement statement the recording fee for the mortgage was listed as $XXX vs. final CD lists the recording fee for the mortgage as $XXX.  Please provide either an updated CD along with a copy of the notification of error or an updated final settlement statement.  The cash to close must be the same on both.  ; General Compliance Exception 2 - The final CD, in section H under Title-Owner’s Title Insurance, is missing the word "Optional".  Since it is a premium related to the issuance of the owners title insurance it should have the parenthetical description “(optional)” at the end of the cost label. - Cured Post Close - Cured Post Close 02/01/2017 Issue Resolution: 2/1/2017:  post close CD provided listing the words "(optional)" in parentheses along a copy of the notification of error to the borrower, loan will be graded a B. ; Total of Payments is not accurate - The Final CD reflected total of payments as $XXX,XX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX. - Cured Post Close - Cured Post Close 01/30/2017 Issue Resolution: 01/30/17: Non Material. Loan will be graded a B. ; Missing Closing Disclosure / CD Not in File - The file contains two signed CD's dated XX/XX/XXXX; The Closing Disclosure sections A through J of CD Pg6 time-stamped 2:29PM and CD Pg18 time-stamped 3:13PM match; However, the CD's reflect a variance in cash-to-close due to Pg1 adjustments variance with Pg6 CD reflecting $X,XXX.XX versus Pg8 CD reflecting $X,XXX.XX. Please provide copy of final CD. - Cleared - Cleared 02/17/2017 Issue Resolution: 2/1/2017:  The CD from consummation provided, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.19%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 820; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.87 months excess reserves
9	per data	2	1	2	1	Missing Documentation - The file reflects a canceled check for $XXX payable to a real estate company for a broker fee on XX/XX/XXXX.  Please clarify, is the borrower purchasing another property?  Additional conditions may apply. - Cleared - Cleared 04/12/2016 Lender Response: 4/7/2016:  In regards to the Check, this was for a property that the borrower co signed on for her son. the Debt is included in the DTI  Issue Resolution: 4/12/2016:  Per LOE, the check was for the property that the borrower co-signed for her son. This debt was counted in the DTI, no further documentation required, condition cleared.  ; Incomplete Documentation - The hazard insurance certificate is missing the policy number. - Cleared - Cleared 04/13/2016 Issue Resolution: 04/13/16: Lender provided the Homeowners Declaration Page showing the Policy number. Condition cleared.	Missing Special Information Booklet / Home Loan Toolkit - Evidence Borrowers received the Home Loan Toolkit not provided in file. - Cleared - Cleared 04/14/2016 Issue Resolution: 04/14/2016 Lender provided internal screen shot and disclosure package confirming that the home loan toolkit was provided within 3 days of the application. Condition cleared. 4/12/2016:  Copy of Home Loan Toolkit provided, however unable to determine when it was provided to the borrower.  Need evidence that the Home Loan Toolkit was provided to the borrower within 3 days of initial application of XX/XX/XXXX.  ; Affiliated Business Disclosure not provided within 3 business days of application date. - The Affiliated Business Disclosure in the file is dated XX/XX/XXXX and the original application date is XX/XX/XXXX. - Cleared - Cleared 04/12/2016 Issue Resolution: 4/12/2016:  Signed Affiliated Business Disclosure provided dated XX/XX/XXXX which is within 3 days of initial application, condition cleared. ; Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for. - WLSP is missing a detailed list of services which corresponds to the LE for services the borrower is permitted to shop for.  The WLSP lists Title Company but not the services provided by the Title Company.  - Cured Post Close - Cured Post Close 04/07/2016 Issue Resolution: 04/07/2016: Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23 months reserves ; Years on Job Borrower has 32 years on job
51	per data	1	1	1	1	Missing final application (1003) - Missing final signed 1003. - Cleared - Cleared 11/02/2016 Issue Resolution: 11/02/16: Lender provided the final signed 1003. Condition cleared.	Missing E Consent Disclosure - Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent disclosure for the borrower and co-borrower. - Cleared - Cleared 11/02/2016 Issue Resolution: 11/02/16: Lender provided evidence of the borrower's consent to receive documentation electronically. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 29.24%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 770; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 61.20 months reserves
13	per data	2	2	1	1	Failure to obtain Occupation and Employer Information - Missing verification of the phone listing & address of the borrower's employer for verification of employment. Per lenders G/L's must provide a phone listing and address for the applicant's employer must be obtained independently.  - Cured Post Close - Cured Post Close 05/06/2016 Issue Resolution: 5/6/2016:  Received 3rd party printout independently verifying borrowers employer phone listing and address.   The printout is dated post close therefore loan will be graded a B. ; Missing Documentation - Missing applicant's payment or forbearance agreement for liabilities #4 & #5 listed under Section VI on application. Per lender guidelines, if the monthly payment cannot be verified by the credit report, a copy of the applicant's payment letter or forbearance agreement must be obtained. - Cleared - Cleared 05/06/2016 Issue Resolution: 5/6/2016:  Student loans minimum monthly payments were calculated by using 6.80% interest rate based on a 10 year amortization, borrowers qualify with these minimum monthly payment calculations, condition cleared. ; Missing copy of title - Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.) - Cleared - Cleared 01/13/2017 Issue Resolution: 6/8/2016:  Updated DU Findings and a revised CD updating the estimated taxes,insurance, & assessments to $590.93, along with a copy of the notification of error and proof of delivery provided, condition cleared.  .5/17/2016:  Lender has provided evidence that the subject property is indeed located in a PUD.  Lender has provided an updated appraisal, new 1008 & 1003, and evidence that the Deed of Trust will be re-recorded as a PUD.  Please provide updated DU Findings and a revised CD updating the estimated taxes,insurance, & assessments to $590.93, along with a copy of the notification of error and proof of delivery.   5/10/2016: Per the title commitment, it appears that there maybe a Homeowners Association (see item #14), please clarify.  No mention on the appraisal and/or purchase agreement.  Additional condition may apply.  5/6/2016:  Sent to Team Lead for Review, will advise as soon as possible; Missing AUS results - The file is missing an AUS/DU as required by guidelines. Additional conditions may apply. - Cleared - Cleared 05/06/2016 Issue Resolution: 5/6/2016:  DU Findings provided showing approve/ineligible due to the loan amount exceeds the maximum allowable loan limit, Condition cleared.   ; Missing asset documentation - Missing terms of withdrawal for asset account #5 listed under Section VI of the application (1003). - Cleared - Cleared 01/13/2017 Issue Resolution: 5/20/2016:  401K withdraw terms provided, condition cleared. 5/6/2016:  Audit has reviewed the documentation provided, however please provide evidence what the employer constitutes as a Hardship Withdraw.  Per the statement that was provided, the amount available was $XXX,XXX.XX "if eligible".  We need to ensure the borrower is eligible for withdraw.  Additional conditions may apply.   ; Missing HUD-1 From Sale of Previous Property - CD from sale of exiting home is not signed/certified by the title agent. Please provided certified CD or other documentation confirming closing. - Cleared - Cleared 05/06/2016 Issue Resolution: 5/6/2016:  The seller CD for the departing property was provided but was not executed, however a credit supplement was provided verifying the existing mortgage was paid in full, which the amounts coincides with the amount listed on the CD, and proof of receipt of the net proceeds from the sale are verified via wire transfer from the title company going directly into the borrowers bank account.  Condition cleared. ; Missing LOE - Letter of Explanation (pg 351) does not address if new credit was taken out for all the credit inquiries.  - Cleared - Cleared 05/06/2016 Issue Resolution: 5/6/2016:  Lender provided LOE verifying the only inquiries that were made was by them, along with a utility company.  Condition cleared.	General Compliance Exception - In order to use the electronic signatures, please provide copy of signed E-Sign Consent Form giving the Lender permission to do so. - Cleared - Cleared 05/06/2016 Issue Resolution: 5/6/2016:  Copy of e-Consent disclosures provided, condition cleared. ; Incorrect disclosure of Origination Charges - Section A - The Tax Certificate Fee for $87 and the Wire Transfer Fee of $30 are paid to 3rd parties and not to the lender therefore should be listed in Section B and subject to zero percent tolerance. This can be cured by providing a post close CD showing these fees in section B, provide notification of error (letter to borrower), and proof of delivery of the post close CD to the borrower. - Cleared - Cleared 05/18/2016 Issue Resolution: 5/18/2016:  Upon receipt of further clarification from compliance, it has been determined that if the fees are listed in Section A, it is know that these fees are part of the origination charges, charged by the Lender to the borrower.   No further documentation required, condition cleared.   ; Closing Disclosure document error - The HOA Dues in section H of the final Closing Disclosure dated XX/XX/XXXX is missing the name of the service provider. - Cleared - Cleared 01/13/2017 Issue Resolution: 5/17/2016:  Post close CD provided updating payee in section H, along with notification of error and proof of delivery, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.756%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 748; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 36.89 months reserves
149	per data	1	1	1	1		Missing Initial Escrow Account Disclosure - Initial Escrow Disclosure was not provided in the loan file. - Cleared - Cleared 01/17/2017 Issue Resolution: 11/7/2016:  Initial Escrow Disclosure dated XX/XX/XXXX provided, condition cleared. 11/2/2016:  No attachment, please upload, thank you.; Missing HUD Homeownership Organization Counseling Disclosure - HUD Homeownership Organization Counseling disclosure was not provided in the loan file. - Cleared - Cleared 11/02/2016 Issue Resolution: 11/02/16: Lender provided the HUD Homeownership Organization Counseling Disclosure showing the 10 closest counselors, dated within 3 days of the application date. Condition cleared.; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Credit Report Fee and Flood Cert Fee were not reflected in section B of the Closing Disclosure despite evidence of a credit report and a flood cert in the file.  The Credit Report Fee and Flood Cert fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided. - Cleared - Cleared 11/02/2016 Issue Resolution: 11/2/2016:  Received attestation verifying there was not a credit report fee nor flood cert fee charged on this loan, condition cleared.  ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects an Appraisal Fee of $450.00 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal Fee of $460.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $10.00 is required.   - Cured Post Close - Cured Post Close 01/17/2017 Issue Resolution: 11/01/2016:  The final closing disclosure reflects a post close tolerance cure of $10.00, which is sufficient. Loan will be graded a B for Fitch and A for others.
32	per data	1	1	1	1	Missing appraisal - Condition Added 11/16/2016:  File is missing the second appraisal which is required on loan amounts over $1,000,000.00.  - Cleared - Cleared 11/16/2016 Issue Resolution: 11/16/2016:  Satisfactory second appraisal provided reflecting a value of $XXXX as of XX/XX/XXXX, condition cleared.	General Compliance Exception - Lender did not provide an ATR/QM status determination. - Cleared - Cleared 10/07/2016 Issue Resolution: 10/07/16: Lender provided the high cost worksheet showing QM status. Condition cleared. ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number of the Settlement Agent is missing.  Please note that a letter of explanation to the borrower must also be issued. - Cleared - Cleared 10/07/2016 Issue Resolution: 10/07/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.; Funding occurred before RTC Expiration Date - Final CD in file reflects disbursement date as XX/XX/XXXX, RTC Expiration Date is XX/XX/XXXX.   - Cleared - Cleared 01/13/2017 Issue Resolution: 10/07/16: Lender provided the corrected CD, LOE to the borrower, evidence of mailing and the funding date. Condition cleared.
157	per data	2	1	2	1	Missing Documentation - Terms of withdrawal from the Borrower’s retirement account was not provided in file. - Cleared - Cleared 12/12/2016 Issue Resolution: 12/12/16: Lender provided the terms of withdrawal for the borrower's 401K. Condition cleared. 11/30/2016:  Received Plan Loan and Hardship Provisions, however unable to determine if these apply to our borrower.   No name and/or account number listed on the documents, unable to cross reference them with the 401 K statement that was provided in the loan file. Condition remains.  ; Missing copy of title - Missing copy of the prelim title equal to the loan amount reflected on the Note (Prelim in file does not reflect the amount <or the correct amount> of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.) - Cleared - Cleared 11/30/2016 Issue Resolution: 11/30/2016:  Title commitment provided showing lenders coverage equal to the loan amount reflected on the Note, condition cleared.  ; Missing Third Party Fraud Tool (Report) - The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  The loan file contains 1 page of a 3rd party fraud tool however; a complete report must be in the loan file.  Additional conditions may apply. - Cleared - Cleared 11/30/2016 Issue Resolution: 11/30/2016:  Third party fraud report provided with all variances addressed, condition cleared.	Missing Affiliated Business Disclosure - File is missing the Affiliated Business Disclosure.  If the lender and broker are not affiliated with any other businesses, please provide an attestation stating such. - Rescind - Rescind 11/30/2016 Issue Resolution: 11/30/2016:   Audit has received a prior attestation verifying the Lender does not have any business affiliates, therefore condition is rescinded.  ; Sufficient RESPA Cure provided on HUD-1 - Condition added 11/30/2016:  Lender provided a $22.75 credit for increase in closing close above legal limit.   - Cured Post Close - Cured Post Close 11/30/2016 Issue Resolution: 11/30/2016:  Audit could not find any tolerance violations, loan will be graded a B for Fitch and A for others.  ; Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for. - The service provider list in file is an old RESPA service provider list and does not list the individual "services" associated with each provider. It is not the service provider list that is under form H-27 in the rule. The WLSP is itself a violation and it is confusing to consumers because it has text that relates to the GFE. - Cured Post Close - Cured Post Close 11/30/2016 Issue Resolution: 11/18/2016:  Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.; Incorrect disclosure of Origination Charges - Section A - The Discount points, Administration Fee and Processing Fee in section A of the final Closing Disclosure are missing the name of the service provider.   - Rescind - Rescind 11/30/2016 Issue Resolution: 11/30/2016:  Audit has reviewed and determined that the fees located in section A are paid to the Lender, therefore the names of the service provider are not required, condition rescinded.   ; Information required for CD 'Contact Information' section not completed, or completed in error - The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing and the  Name, Address, CA License Id, Contact, Contact License ID, Email and Phone are missing for the Mortgage Broker.  Please note that a letter of explanation to the borrower must also be issued.   - Cured Post Close - Cured Post Close 11/30/2016 Issue Resolution: 11/30/2016:  Lender provided a post close CD reflecting the contract information for the settlement agent along with a copy of the notification of error that was provided to the borrower, loan will be graded a B.   (Please note:  there is no mortgage broker, subject loan is a retail loan, therefore no broker information is required.   The name listed as the loan originator company is another trade name for the lender listed on the Note, please see NMLS website)  ; Closing Disclosure document error - The property taxes in section F of the final Closing Disclosure are missing the government entity.  Please note that a letter of explanation to the borrower must also be issued.   - Cured Post Close - Cured Post Close 11/30/2016 Issue Resolution: 11/30/2016:  Lender provided a post close CD reflecting the payee for the property taxes in section F along with a copy of the notification of error that was provided to the borrower, loan will be graded a B.  ; Loan Estimate document error - The LE is missing the lender's name, CA License ID, Loan Officer, and email or phone number and the Mortgage Broker Information is where the lender's information is located under the section, Additional Information About This Loan. - Cured Post Close - Cured Post Close 11/21/2016 Issue Resolution: 11/18/2016:  This is a non-material issue. The loan will be rated a B for all agencies.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 314.60 months reserves
173	per data	1	1	1	1		Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Title - Lender's Title Insurance and Title - Settlement Fee are reflected in section B of the final Closing Disclosure.  The borrower shopped for their own title service provider and did not use the provider on the WLPS.  The title service provider fees should be listed in section C of the CD. - Rescind - Rescind 12/08/2016 Issue Resolution: 12/8/2016:  Upon receipt of further clarification from compliance, it has been determined that if the fees are listed in Section A, it is know that these fees are part of the origination charges, charged by the Lender to the borrower, therefore condition is rescinded.  ; Closing Disclosure document error - The Appraisal Fee in section B and the Tax Certificate fee in section A of the final Closing Disclosure are missing the service providers. - Cleared - Cleared 12/09/2016 Issue Resolution: 12/09/16: Lender provided the corrected CD for the appraisal fees in section B, and LOE to the borrower within 60 days of consummation. Condition cleared.
174	per data	2	2	1	1	Missing Documentation - The loan file is missing a letter from the borrowers to close the current HELOC. - Cleared - Cleared 12/19/2016 Issue Resolution: 12/19/2016:  HELOC closure letter provided, condition cleared. ; Missing 4506-T - Missing the initial and final 4506-T for the borrower's S-Corporation. - Cured Post Close - Cured Post Close 12/19/2016 Issue Resolution: 12/19/2016:  Received copy of the signed 4506-T during the application process, however the 4506-T from closing was signed post close, loan will be graded a B.	General Compliance Exception - The subject loan was funded in a dry funding state.  Estimated Settlement Statement in file indicates a cash to borrower of $XX,XXX vs. the final CD which reflects a cash to borrower of $XX,XXX with a discrepancy of $X,XXX.  Please provide Final Settlement Statement and explanation of discrepancy. - Cleared - Cleared 12/12/2016 Issue Resolution: 12/12/16: Lender provided the corrected CD, and LOE to the borrower. Condition cleared. ; General Compliance Exception 2 - Lender did not provide a QM Safe Harbor status determination.  - Cleared - Cleared 12/12/2016 Issue Resolution: 12/12/16: Lender provided the QM Safe Harbor status determination. Condition cleared.	570 - Review Appraisal Missing - A CDA report was not provided in the loan file. - Cleared - Cleared 12/12/2016 Issue Resolution: 12/12/16: CDA reflecting a value of $XXX,XXX, which is a -0.0% variance.  Condition Cleared.	DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 33.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 752; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.70 months reserves
94	per data	1	1	1	1	Missing AUS results - Missing AUS results - Cleared - Cleared 11/14/2016 Issue Resolution: 11/14/2016:  DU Findings provided reflecting approve/ineligible due to loan amount exceeds allowable loan limit, condition cleared.			DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 41.01%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 780; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #1.7 months excess reserves
301	per data	1	1	1	1	Missing 4506-T - Missing initial 4506-T; Per Lender guidelines; a signed 4506-T is required at application and at closing. - Cleared - Cleared 01/31/2017 Issue Resolution: 1/31/2017:  Initial signed 4506-T for both borrowers provided, condition cleared.	Missing Special Information Booklet / Home Loan Toolkit - Missing Home Loan Toolkit and evidence of issuance within 3 days of application. - Cleared - Cleared 01/31/2017 Issue Resolution: 1/31/2017:  Evidence the Home Loan Toolkit was provided within 3 days of the initial application date provided, condition cleared.  ; HUD Homeownership Counseling Disclosure not provided within 3 days of application - A HUD Home-ownership Organization Counseling Disclosure was not provided in the file. - Cleared - Cleared 01/31/2017 Issue Resolution: 1/31/2017:  HUD Home-ownership Organization Counseling Disclosure dated within 3 days of the initial application provided, condition cleared. ; Missing borrower’s documented Intent to Proceed - Provide an executed copy of the Intent to Proceed disclosure for the borrower. - Cleared - Cleared 02/17/2017 Issue Resolution: 1/31/2017:  Copy of the intent to proceed dated XX/XX/XXXX provided, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.94%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 742; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #105 months excess reserves
209	per data	1	1	1	1	Missing Documentation - Missing signed joint access letter from borrower's spouse for annuity account.  - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided the signed joint access letter from borrower's spouse for annuity account. Condition cleared. ; Missing income documentation - Missing income documentation for "Other Income" shown on most recent tax return. Additional conditions may apply.  - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided 2015 1009. Income not used to qualify. Condition cleared.   ; Missing verbal verification of employment - Missing search engine results for verbal verification of employment. Per lender's guideline's the address and phone number of the employer must be obtained independently.  - Cured Post Close - Cured Post Close 12/08/2016 Issue Resolution: 12/08/16: Search engine results are a guideline requirement, received post close. Loan will be graded a B. ; Missing LOE - Missing LOE for gap in borrower's employment history. Per Lender's guideline's a 2 year employment history must be verified. Additional conditions may apply. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided an signed LOE for job gap from 06/15 to 11/15. Condition cleared. ; Document not signed - Per Lender's guideline's ,all Letter's of Explanation must be signed by the borrower. Additional conditions may apply. - Cleared - Cleared 12/08/2016 Issue Resolution: 12/08/16: Lender provided the signed LOE's. Condition cleared.	General Compliance Exception - 12/7/2016:  condition updated to reflect that evidence of mailing is not required due to this is a non-monetary correction, all other requirements are required.  Section B, Appraisal Fee credit of $350.00. Regulation 1026.19(f)(2)(iii) state the amount that is actually paid must be disclosed. It is a violation on actual charges because the appraiser only charged $650.00 not $1,000.00.  To correct this, the $350.00, would need to be a credit in section J. Please provide a corrected CD within 60 days of consummation, LOE to the borrower, and evidence of mailing.  - Cured Post Close - Cured Post Close 12/12/2016 Issue Resolution: 12/12/2016:  Received post close CD correcting the errors long with a copy of the notification of error, loan will be graded a B. 12/12/16: Lender provided a corrected CD, and LOE to the borrower, however, Section B, Appraisal Fee is incorrect. Condition maintained.12/08/16: Lender provided a corrected CD, and LOE to the borrower within 60 days, however,  Section B, Appraisal Fee is incorrect. Condition maintained. ; Closing Disclosure document error - The Final CD, in section H under Title-Owner’s Title Insurance, is missing the word Optional.  Since it is a premium related to the issuance of the owners title insurance it should also have the parenthetical description (optional) at the end of the cost label. Please provide a corrected CD within 60 days of consummation, and LOE to the borrower. Additional conditions may apply.   - Cured Post Close - Cured Post Close 12/12/2016 Issue Resolution: 12/12/2016:  Received post close CD correcting the errors long with a copy of the notification of error, loan will be graded a B.  12/12/16: Lender provided a corrected CD, and LOE to the borrower, however, Section B, Appraisal Fee is incorrect. Condition maintained.12/08/16: Lender provided a corrected CD, and LOE to the borrower, however, Section B, Appraisal Fee is incorrect. Condition maintained.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 39.172%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides requires 9 months reserves, loan qualified with 95.63 months reserves
291	per data	1	1	1	1	General Credit Exception - Executed Home Equity Line of Credit (HELOC) closure letter reflecting HELOC was closed was not provided in the file. - Cleared - Cleared 01/13/2017 Issue Resolution: 1/13/2016:  Fully executed closure letter provided, condition cleared. ; General Credit Exception 2 - Per the loan application, the borrower is a party to a lawsuit, investor approval of loan due to lawsuit is required. LOE in the file from borrower's attorney confirms details of the lawsuit, time line and potential outcome if the case is ruled in favor of the plaintiff. Additional conditions may apply.  - Cleared - Cleared 01/11/2017 Issue Resolution: 1/11/2017:  Audit has reviewed and determined that per the 1003, this borrower is a party to a law suit.   The attorney has provided a letter of explanation and also goes on to mention that any settlement or award to the plaintiff would be within the borrowers insurance policy limits.  No  issue found that would pose a threat to the borrower’s ability to repay, therefore condition cleared.  01/06/17: Currently under review. ; Missing Documentation - Missing the mortgage statement of the investment property listed on the Schedule of Real Estate Owned of the loan application to verify the mortgage payment from the credit report in file.  Additional conditions may apply. - Cleared - Cleared 01/06/2017 Issue Resolution: 01/06/17: Lender provided the mortgage statement for the investment property showing the tax and insurance impounded. Condition cleared.; Missing 4506-T - Missing the initial executed 4506-T's in the loan file from both borrowers. - Cleared - Cleared 01/06/2017 Issue Resolution: 01/06/17: Lender provided the initial 4506T signed by both borrowers. Condition cleared. ; Missing Verification of Taxes and Insurance amounts for Rental Property - Missing verification of taxes and insurance for the investment property listed on the Schedule of Real Estate Owned of the loan application. Additional conditions may apply. - Cleared - Cleared 01/06/2017 Issue Resolution: 01/06/17: Lender provided the mortgage statement for the investment property showing the tax and insurance impounded. Condition cleared.	General Compliance Exception - The subject loan was funded in a dry funding state.  Final Settlement Statement in file indicates a cash to borrower of $X,XXX.XX vs. the final CD which reflects a cash to borrower of $X,XXX.XX with a discrepancy of $XX.XX.  Please provide Post Close CD and explanation of discrepancy. - Cleared - Cleared 02/17/2017 Issue Resolution: 01/06/17: Lender provided the corrected CD 60 days of consummation, and LOE to the borrower.Condition cleared.; Funding occurred before RTC Expiration Date - The RTC Expiration Date was XX/XX/XXXX and the final Closing Disclosure in the loan file reflect the disbursement date as the same date.  Please provide an updated CD with the correct disbursement date. - Cleared - Cleared 02/17/2017 Issue Resolution: 01/06/17: Lender provided the corrected CD 60 days of consummation, and LOE to the borrower. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 28.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 26.60 months reserves
309	per data	2	2	3	1	Missing hazard insurance declaration - Missing hazard insurance declaration; The effective date of the hazard policy is dated XX/XX/XXXX which is after the Note Date.  - Override - Acknowledged 02/17/2017 Issue Resolution: 01/26/2017:  Exception granted by client for properties located in property state when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.; Failure to Verify Housing History - Missing 24 month housing credit history; lender guidelines require a minimum 24 month rental housing history.  The loan file contains 16 months of cancelled checks for rents paid however; the loan application and verification are missing a full 24 month rental history.   - Rescind - Rescind 01/31/2017 Issue Resolution: 1/31/2017:  Audit has reviewed and determined that only 12 months most recent housing payment history is required, not 24 per investor guidelines.  File verified 16 months of satisfactory payment history, therefore condition has been rescinded.  ; Missing 4506-T - Missing initial 4506-T; Per Lender guidelines; a signed 4506-T is required at application and at closing - Cleared - Cleared 02/01/2017 Issue Resolution: 2/1/2017:  copy of the initial signed 4506-T provided for the borrower, condition cleared.	General Compliance Exception - Final settlement statement in file indicates a cash to close of $XXX,XXX.XX vs. the post close CD which reflects a cash to close of $XXX,XXX.XX with a discrepancy of $XX.XX. - Cured Post Close - Cured Post Close 02/17/2017 Issue Resolution: 2/3/2017:  Updated CD provided reflecting the correct cash to close along with updated notification of error, loan will be graded a B.  2/2/2017:  Received post close CD, however the cash to close is not correct.  Please provide updated CD reflecting $XXX,XXX.XX as the cash to close amount along with a copy of the notification of error.  2/1/2017:  Received copy of the CD from Funding verifying the cash to close as $XXX,XXX.XX, which coincides with the final settlement, however the lender credits on page 1 of the CD does not match the lender credits on page 2, section J, please clarify.  Please provide updated CD and copy of the notification or error to the borrower.   ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Appraisal Fee in section B of the final Closing Disclosure reflects -150.00 paid at closing and $900.00 paid before closing.  Section B cannot reflect a negative amount.  Credit must be reflected in section J.  Please note that a letter of explanation to the borrower along with proof of delivery must also be issued. - Cured Post Close - Cured Post Close 02/02/2017 Issue Resolution: 2/2/2017:  Received updated CD reflecting the actual amount paid ($900) in Section B for the appraisal fee along with a copy of the notification of error to the borrower, loan will be graded a B.  2/1/2017:  Received copy of the CD from Funding which removed the negative (-$150) for the appraisal fee in section B, however the appraisal fee needs to be reflected as what the borrower actually paid POC, which was $900, not $750.   As it appears now, it looks like the borrower only paid $750 POC, and received $150 credit at closing, which would make the final appraisal cost $600.  Please provide updated CD along with a copy of the notification of error to the borrower.		FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #34.85 months excess reserves
45	per data	1	1	1	1	Missing Documentation - 2015 Amended Tax Return is not signed/dated by the borrowers. - Cleared - Cleared 10/13/2016 Issue Resolution: 10/23/16: Lender provided the 2015 Amended Tax Return signed/dated by the borrower and co-borrower. Condition cleared. ; Missing HELOC agreement - Missing signed/dated HELOC closure statement.  - Rescind - Rescind 10/10/2016 Lender Response: 10/7/2016:  As it turns out, this was not a HELOC and to support this, I have attached a revised prelim. Issue Resolution: 10/10/2016:  Audit has reviewed and determined that per the credit report in the loan file (pg 254) and the updated title commitment, the 2nd mortgage in question is not a HELOC, but indeed a 2nd mortgage, therefore a closure letter is not required, condition rescinded.  ; Missing final application (1003) - Missing final application signed/dated by the borrowers & loan officer.  - Cleared - Cleared 10/13/2016 Issue Resolution: 10/13/16: Lender provided the final loan application signed by the loan officer. Condition cleared. ; Missing W-2 - Missing 2015 W2 for borrower's previous employer as listed on application. (1003) - Cleared - Cleared 10/10/2016 Issue Resolution: 10/10/2016:  Copy of borrowers 2014 W-2 provided for previous employer, 2015 W-2 was not provided, however there is a 3rd party WVOE provided in the loan file (pg 388) verifying borrowers wages for 2015, therefore no further documentation required, condition cleared.	Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The final CD reflects Appraisal Review fee paid to investor in amount of $100.00 in section B. Investor does not permit a fee payable to the investor to be collected. A refund of $100 along with revised CD, letter of explanation to borrower and proof of shipment must be provided.  - Cleared - Cleared 10/10/2016 Issue Resolution: 10/10/2016:   Received post close CD along with a copy of the notification of error, reflecting the payee for the appraisal review, condition cleared.   ; Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately - The final Closing Disclosure dated indicates the Estimated Taxes, Insurance and Assessments as $850.56 a month vs. the calculated value of $831.56 a month. The lender used the incorrect amount of 40.00 for the HOA vs. the actual amount of $21.00 per the appraisal. - Cleared - Cleared 10/10/2016 Issue Resolution: 10/10/2016:   Received post close CD along with a copy of the notification of error, updating the calculated value to $831.56 for the estimated taxes, insurance and assessments, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 41.151%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 700; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.39 months reserves
17	per data	2	2	2	1	General Credit Exception - Please provide an LOE regarding the name shown on the P&L and Balance Sheet on page 567. The title does not correspond to the business shown on the borrower's tax returns or 1003. Additional conditions may apply.   - Cleared - Cleared 09/23/2016 Issue Resolution: 09/23/16: Lender replied, joint venture where subject company is a 50% owner and managing member. The other a NY Corp. Certificate of good standing provided. Condition cleared.  ; Missing income documentation - Missing licenses for borrower's and co-borrower's businesses listed in Section V. of the final 1003.  - Cleared - Cleared 09/27/2016 Issue Resolution: 09/27/16: Business license provided. Condition cleared. 09/23/16: Lender provided the business license for the first 2 companies shown in Section IV. of the final 1003. Please provide the business license for the third. Condition maintained. ; Missing 4506-T - Missing 4506-T for borrower and co-borrower business entities with >25% ownership. - Override - Acknowledged 11/30/2016 Issue Resolution: 11/30/2016: Condition waived based on executed 4506-T's were provided post close, loan will be graded a B.   10/10/2016:  It has come to the attention of Audit, that we do not have the signed 4506-T for the 3 businesses that were signed at application, only the ones that were executed post close, condition remains for the signed 4506-T for the 3 businesses that were signed at application.  Investor will only make exceptions if they have the 4506 signed at application and then a closing or post-closing.     09/23/16: Lender provided the signed (Post Close) 4506T's for the borrower and co borrower's businesses. Loan will be graded a B.; Missing Balance Sheet - Balance sheet for the borrower's and Co borrower's S-Corp. and Partnerships are not signed as per guidelines.    - Cleared - Cleared 09/23/2016 Issue Resolution: 09/23/16: Lender provided the signed P&L and Balance Sheets for the borrower's and co borrower's businesses. Condition cleared. ; Missing YTD Profit & Loss - Profit and Loss for the borrower's and Co borrower's S-Corp.and Partnerships are not signed per guidelines.    - Cleared - Cleared 09/23/2016 Issue Resolution: 09/23/16: Lender provided the signed P&L and Balance Sheets for the borrower's and co borrower's businesses. Condition cleared.	Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - CD reflects investor review fee paid to investor in amount of $250.00. Investor does not permit a fee payable to the investor to be collected. A refund of $250.00 is required. - Cured Post Close - Cured Post Close 08/10/2016 Issue Resolution: 8/9/2016:  Post close CD provided reflecting the $250 refund for the investor fee, along with copy of the $250 refund check, notification of error, and proof of delivery.  Loan will be graded a B for Fitch, and A for others.  ; Incorrect disclosure of DID SHOP Fee (Section C) - The Title - eRecording Fee, Title-Lender's Title Insurance, and Title Settlement Fee are reflected in section B of the final Closing Disclosure dated XX/XX/XXXX. The borrower shopped for their own The Title - eRecording Fee, Title-Lender's Title Insurance, and Title Settlement Fee and did not use the provider on the WLSP. The title fees should be listed in section C of the CD. - Cured Post Close - Cured Post Close 01/13/2017 Issue Resolution: 8/10/2016:  Updated notification of error provided explaining the move of the title fees from section B to section C, condition cleared, Loan will be graded a B for Fitch and A for others.  8/9/2016:  Post close CD provided moving the title fees in section B to section C, along with proof of delivery, however notification of error letter does not address this change that was made, please provide updated notice to borrower.  ; Missing E Consent Disclosure - In order to use electronic signatures please provide copy of signed E-sign Consent Form giving the lender permission to do so. - Cleared - Cleared 08/09/2016 Issue Resolution: 8/9/2016:  E-consent for borrower provided, condition cleared.  8/9/2016:  Copy of e-consent provided for co-borrower, pending e-consent for borrower.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.57%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #60 months excess reserves
193	per data	1	1	1	1
60	per data	1	1	1	1		HUD Homeownership Counseling Disclosure not provided within 3 days of application - HUD Homeownership Counseling Disclosure not provided within 3 days of application. - Cleared - Cleared 10/06/2016 Issue Resolution: 10/6/2016:  HUD Homeownership Counseling Disclosure provided and is dated within 3 days of the initial application, condition cleared. 10/3/2016: Copy of post close CD provided, still pending evidence that the HUD Homeownership Counseling Disclosure was provided within 3 days of application.; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Survey Fee is reflected in section B of the final Closing Disclosure. The borrower shopped for their own Survey Fee and did not use the provider on the WLSP. The Survey Fee should be listed in section C of the CD. - Cured Post Close - Cured Post Close 09/26/2016 Issue Resolution: 09/26/2016: The Lender corrected it on post close CD and Survey Fee was moved to Section C. Loan will be rated a B for Fitch and A for others.; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - The LE dated XX/XX/XXXX reflects Appraisal Fee of $450 with no resulting CoC for any subsequent disclosures. The Final CD reflects an Appraisal Fee of $500.00 resulting in a $50.00 refund due for cure.   - Cured Post Close - Cured Post Close 09/26/2016 Issue Resolution: 9/26/2016: Post Close CD shows a sufficient tolerance cure in the amount of $50.00. Loan will be graded a B for Fitch and A for others.  Condition cleared.; Naming Convention in Services Borrower DID SHOP Fee (Section C) on C.D. is not consistent with L.E. - The Title-Attorney Document Preparation Fee on the Final CD is incorrectly named as compared to the LE dated XX/XX/XXXX Lender's Warranty Deed Prep. Although no tolerance, these fees should all match in naming convention. - Cleared - Cleared 10/03/2016 Issue Resolution: 10/3/2016:  Post close CD provided updating CD to reflect the correct naming convention for the Lender Warrant Deed Prep in section C, along with copy of notification of error to the borrower, condition cleared. ; Lender Credits on Final Closing Disclosure at closing is inaccurate in relation to previous Initial disclosure(s) - The CD dated XX/XX/XXXX reflects a lender credit in the amount of $XXX. The lender credit decreased to $XXX on the CD dated XX/XX/XXXX with no indication of a valid COC to account for the $XXX decrease in the credit. - Cured Post Close - Cured Post Close 09/26/2016 Issue Resolution: 09/26/2016: Post Close CD shows a sufficient tolerance cure in the amount of $XXX. Loan will be graded a B for Fitch and A for others.  Condition cleared.
55	per data	2	1	2	1	Missing Documentation - Missing evidence of the balance and monthly payment of debt listed #5 under Liabilities on the application (1003).  - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided evidence of the balance and monthly payment of debt listed #5 under Liabilities on the application (1003). Condition cleared. ; Missing HELOC agreement - HELOC closure letter is not signed by the borrowers. - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the signed HELOC closure letter. Condition cleared. ; Missing Balance Sheet - Balance sheet signing date is after the date of the note.  This is non QM compliant.  - Cleared - Cleared 10/31/2016 Issue Resolution: 10/31/2016:  Received copy of lenders internal screen shot as evidence that the borrowers P&L and Balance Sheet for 2016 were signed on 8/24/2016 which is prior to closing, condition cleared. ; Missing YTD Profit & Loss - YTD Profit & Loss signing date is after the date of the note. This is non QM compliant.  - Cleared - Cleared 10/31/2016 Issue Resolution: 10/31/2016:  Received copy of lenders internal screen shot as evidence that the borrowers P&L and Balance Sheet for 2016 were signed on 8/24/2016 which is prior to closing, condition cleared.	HUD Homeownership Counseling Disclosure not provided within 3 days of application - HUD Homeownership Counseling Disclosure not provided within 3 days of application.  - Cleared - Cleared 10/18/2016 Issue Resolution: 10/18/16: Lender provided the HUD Homeownership Counseling Disclosure dated within 3 days of application. Condition cleared. ; Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C. - Final Closing Disclosure indicates a tolerance cure in the amount of $25.00 for increase in Appraisal Fee.   - Cured Post Close - Cured Post Close 10/12/2016 Issue Resolution: 10/11/16: Final CD shows a sufficient tolerance cure in the amount of $25.00. Loan will be graded a B for Fitch and A for Others. Condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 9.069%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 41.13 months reserves
199	per data	1	1	1	1		HUD Homeownership Counseling Disclosure not provided within 3 days of application - A HUD Home-ownership Organization Counseling Disclosure was not provided in the loan file within 3 days of the loan application. - Cleared - Cleared 01/09/2017 Issue Resolution: 1/9/2017: HUD Home-ownership organization counseling disclosure provided and is dated within 3 days of the loan application, condition cleared.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #12.8 months excess reserves
180	per data	2	2	1	1	Missing copy of title - Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the correct amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.) - Cleared - Cleared 01/13/2017 Issue Resolution: 11/14/2016:  Title commitment reflecting lenders coverage equal to the loan amount provided condition cleared.; Missing income documentation - The subject was qualified using bonus income.  The lender's guidelines require bonus income to be itemized for the year-to-date for the current year and previous two years.  Although most recent 2016 year-to-date paystub was provided reflecting bonus income, a WVOE reflecting bonus income was not provided in file.  WVOE reflecting bonus income for previous two years must be provided. - Cleared - Cleared 11/14/2016 Issue Resolution: 11/14/2016:  WVOE provided from a third party vendor verifying bonus income for the past 3 years.  The lowest bonus income was used to qualify, condition cleared. ; Missing Evidence of Taxes and Insurance  - Missing Evidence of Taxes and Insurance for the borrower's departing residence reflected in the Schedule of Real Estate Owned on the loan application. - Cured Post Close - Cured Post Close 01/13/2017 Issue Resolution: 11/21/16: Lender provided the Closing Disclosure for the departing residence showing sold after consummation of the subject property. Loan will be graded a B. 11/14/2016:  Lender provided LOE stating property in question is a loan in which this is verified on the credit report.  FHA loans do require taxes, insurance and MI to be escrowed, therefore the payment reporting on the credit report can be utilized to verify the PITI, however please verify the property is not subject to any monthly HOA fees.  ; Missing 4506-T - Missing 4506-T for primary borrower signed at application. - Cleared - Cleared 11/14/2016 Issue Resolution: 11/14/2016:  Signed and dated 4506-T from application provided for borrower, condition cleared. ; Missing W-2 - Wage and Income Transcripts were provided in file in lieu of actual 2014 & 2015 W-2 forms for both borrowers.  2014 & 2015 W-2 forms for both borrowers must be provided. - Cleared - Cleared 11/14/2016 Issue Resolution: 11/14/2016:  W2's for 2015 and 2014 provided for both borrowers, condition cleared.	HUD Homeownership Counseling Disclosure not provided within 3 days of application - HUD Homeownership Counseling Disclosure was not provided in the loan file. - Cleared - Cleared 11/14/2016 Issue Resolution: 11/14/2016:  HUD Homeownerhip Counseling Disclosure dated within 3 of the initial application provided, condition cleared. ; Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C - The Origination Charges in Section A are subject to 0% variance.  LE dated 10/13/2016 does not reflect an Escrow Administration fee and there was no resulting COC for any subsequent disclosures.  Final CD reflects an Escrow Administration fee of $300.00 for a variance/refund required of $300.00. - Cured Post Close - Cured Post Close 11/09/2016 Issue Resolution: 11/08/2016:  The final closing disclosure reflects a post close tolerance cure of $300.00, which is sufficient.  Loan will be graded a B for Fitch and A for others. ; Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - A Credit Report Fee and a Flood Cert Fee were not reflected in section B of the Closing Disclosure despite evidence of a credit report and a flood cert in the file.  The Credit Report Fee and Flood Cert Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.   - Cleared - Cleared 12/07/2016 Lender Response: Expenses for credit reports and flood certifications are paid on bulk invoices, and are not allocated to individual loans. Issue Resolution: 12/7/20106 Upon further investigation it has been determined that the attestation provided is sufficient to clear the finding. Even though there is an invoice in the file, this is not necessarily what was charged for the specific transaction. Condition cleared. 12/5/2016:  Escalated to compliance for review, will advise as soon as possible.  12/01/16: Please provide contract with the vendor or a corrected CD within 60 days of consummation, and LOE to the borrower. Condition maintained. 11/23/2016  Please verify Lender is under a contract with the vendor to provide credit reports/flood certs at a set rate per month and the rate is not dependent upon the number of credit reports/flood certs that are requested and provided. Note: the credit report in file reflects a Price of $18.10.  Condition remains.  11/14/2016:  Received LOE from Lender verifying that they pay for the credit report and flood cert, therefore this needs to be reflected on the CD in the lender paid column.   Please provide updated CD and copy of the notification of error to the borrower.		DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 18.39%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.60 months reserves

Seller Loan ID

Exception ID

Loan Status

Originator QM/ATR Status

TPR QM/ATR Status

Finding Group

Status

TRID

Materiality of Exception Description

TILA - Civial Liability

TILA - Assignee Liability

TILA - Statutory Damages

TILA - Actual damages

TILA - Statutory Cure Citation

TILA - 130(b) Remeidation  Citation

Cured 19(f) or Remediated 130(b)

Remediated w/in 60 days of Discovery

Initial Rating Agency Grading

Statutory Cure Grade

TILA 130(b) Remediation Cure Grade

Moodys Final Exception Grade

Fitch Final Exception Grade

SP Final  Exception Grade

Kroll Final Exception Grade

DBRS Final Exception Grade

Category

Breach Name

Initial Comment

Client/Seller Reponse Comments

Conclusion Comment

Waiver Or Exception

Waiver Or Exception Made By

Compensating Factors Merged

General Comments

1

db6bcf51-79a9-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Failure to obtain Title

Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Guidelines require that initial title report correctly reflects the information that will ultimately be on the title policy.)

01/07/2016: Prelim

01/07/2016: Audit review of Preliminary Report provided reflects accurate loan terms, documentation submitted is deemed acceptable. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

7bdb636d-68aa-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Lender did not provide an ATR/QM status determination.

1/4/2016:  QM status provided shown as a pass, condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

5bccfa93-94a9-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Condo Questionnaire

File is missing condo questionnaire. Per guidelines please provide the condo questionnaire for the subject property.

1/4/2016:  satisfactory condo questionnaire provided, condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

b92118c5-5daa-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

1/4/2016:  Third party fraud report with all variances addressed, provided. OFAC results shown as passed.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

d7cc3c54-b9b5-4442-91cc-6922cdd7efb0

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Special Information Booklet / Home Loan Toolkit

Home loan tool kit is missing from the file.

1/13/2016: The Due Diligence Firms Compliance Department has reviewed and approved the sellers Internal Policy and Procedures and how the Home Loan Tool Kit is delivered to the borrowers. No further documentation required, condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

191572ea-5daa-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal Consumer Protection

Failure to provide proof of OFAC Search

Third party fraud tool not provided, which is required to verify OFAC.

1/4/2016:  Third party fraud report with all variances addressed, provided. OFAC results shown as passed.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

937da3cc-4444-41b0-a0b7-9e144c6f4edf

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Changed Circumstance form

Changed Circumstance form associated with Loan Estimate with Date Issued of XX/XX/XXXX5 does not reflect fees increase associated with resulting change - % of Loan Amount and Appraisal Fee (credit for $95.00 variance in Appraisal Fee reflected on CD).

1/13/2016:  It has been determined that the $XXXX fee increase when loan was locked was initially overlooked on the CoC when loan was reviewed, however, upon further review it has been confirmed that the fee was properly disclosed on the CoC dated XX/XX/XXXX, no further documentation required, condition as been cleared.  1/7/2016:  Final CD provided, however condition is regarding the CoC form.  The CoC form in file dated XX/XX/XXXX does not list the points fee going from $0.00 to $XXXX.  Condition remains.  1/7/2016:  To further clarify, % of Loan Amount fee in the amount of $XXXX added on Loan Estimate with Date Issued of XX/XX/XXXX which was not documented on associated Changed Circumstance form.  $XXXX fee increase from Initial Loan Estimate to Final Closing Disclosure without proper documentation of increase to borrower. $XXXX refund to cure.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

39c6292a-68aa-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing Documentation

Intent to Proceed missing from the file.

1/4/2016:  Executed Intent to Proceed provided dated XX/XX/XXXX, condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

d78d563d-88b5-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

B

RA

A

A

RESPA

Sufficient RESPA Cure provided on HUD-1

$95.00 cure on Final CD in section J. is sufficient for increase in appraisal fee with no supporting COC.   Loan will be graded a B for Fitch and A for others.

1/7/2016:  $95.00 cure on Final CD in section J. is sufficient for increase in appraisal fee with no supporting COC.   Loan will be graded a B for Fitch and A for others.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

b77c4c3f-8f8d-495c-bde9-88e4c9b1bc3c

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Initial Closing Disclosure has Date Issued of XX/XX/XXXX with consummation date of XX/XX/XXXX.  No evidence of borrower acknowledgment of receipt, therefore mailbox rule/presumed receipt is applied.  Timing requirement not met.

1/7/2016:  Lender provided a copy of E-Sign History verifying borrower E-Consented the re-disclosed documents on XX/XX/XXXX.  No further documentation required, condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

a87893f1-82ad-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

2

2

A

A

RA

A

A

TRID

Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C

% of Loan Amount fee in the amount of $XXXX added on Loan Estimate with Date Issued of XX/XX/XXXX which was not documented on associated Changed Circumstance form.  $XXXX fee increase from Initial Loan Estimate to Final Closing Disclosure without proper documentation of increase to borrower. $XXXX refund to cure.

1/13/2016:  It has been determined that the $XXXX fee increase when loan was locked was initially overlooked on the CoC when loan was reviewed, however, upon further review it has been confirmed that the fee was properly disclosed on the CoC dated XX/XX/XXXX, no further documentation required, condition as been cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

47a38b79-83ad-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

2

2

A

A

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

Title Loan Service Fee added on Loan Estimate with Date Issued of XX/XX/XXXX without Changed Circumstance and not reflected on any service provider list - subject to zero tolerance.  $280.00 refund for cure required.

1/14/2016:  Seller provided the WLSP and the title company that was used on this transaction is listed on the service provider list, therefore are subject to the 10% tolerance.  The listed title fees are within the 10% tolerance, therefore the $280 refund is not required, condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

e1c4735a-34ad-4897-ba61-38a65ba1c9da

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Missing corresponding W.L.S.P. for Initial L.E. in File DID SHOP Fee (Section C)

No WLSP in file. Please provide the WLSP provided for the borrower to shop for services.

1/7/2016:  WLSP provided dated within 3 days of initial application.  Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

53e93d98-40fc-4123-ad59-577ad3f5676e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

CD value of $XXX,XXX vs. calculated value of $XXX,XXX for a variance of $X.XX

1/7/2016:  Due Diligence firm has acknowledged that this loan does not meet TRID requirements, however due to this is an over disclosure loan will be graded a "B".   Investor to make final determination.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

1

5baefe61-5da8-4b52-acb5-2bfbcd98629b

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Total Interest Percentage (TIP) is not accurate.

TIP: 69.371% does not match the CD 69.370%, Variance is .001%

1/7/2016:  Due Diligence firm has acknowledged that this loan does not meet TRID requirements, however due to this is an over disclosure loan will be graded a "B".   Investor to make final determination.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 71.56%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797.

26

e884152f-5c82-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID SHOP Fee (Section C) & Recording Fee (Section E) exceed corresponding L.E. fee (10% Tolerance, when payee = Other or Borrower Permitted to shop for services)

Section E Recording Fees are subject to 10% tolerance. LE dated XX/XX/XXXX reflects recording fees of $150.00 ($165.00 at 10%) with no resulting COC for any subsequent disclosures. The final CD reflects a charge of $187.00 for a variance/refund required of $22.00 to meet 10% threshold.

09/26/2016:  A Post Closing CD was provided in the loan file reflecting Section E Recording Fee in the amount of $84.00, which is within the 10% tolerance.  Loan will be rated a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.15%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 781; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.00 months reserves

26

ce0d4883-bf81-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Yes

Yes

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Missing Loan Estimate / LE Not in File

Missing LE for WLSP dated XX/XX/XXXX.

9/26/2016:  Can you please escalate this condition? LE does not need to match with the WLSP in the file.  The borrower signed the initial 1003 on XX/XX and we have the LE dated XX/XX in the file. We are in compliance.

9/27/2016:  Audit has reviewed and determined that the WLSP dated XX/XX/XXXX was issued within 3 days of the LE being issued on XX/XX/XXXX, therefore no violation, condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.15%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 781; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.00 months reserves

26

0eb622fa-c181-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The homeowner's insurance premium was not collected at closing.

9/26/2016: A Post Closing CD was provided in the loan file reflecting homeowner's insurance premium paid at closing in section F.  Loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.15%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 781; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.00 months reserves

26

4eb2c9d0-bc81-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing asset documentation

Missing pages 1-14 of investment account statement dated XX/XX/XXXX.

09/27/16: Lender provided the investment statement dated XX/XX/XXXX. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.15%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 781; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.00 months reserves

26

0e9ba70d-bd81-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Please provide an industry standard fraud tool along with any supporting document based on fraud report findings. Additional conditions may apply.

09/27/16: Lender provided the third party fraud report for the borrower and co borrower. No outstanding issues noted. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.15%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 781; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.00 months reserves

50

b798589d-8094-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

General Credit Exception

Title reflects an outstanding lien of $X,XXX,XXX per Schedule BII item #10; please provide evidence of satisfaction or release.

10/28/2016:  Per title supplement, item #10 will be deleted on final commitment, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves

50

3efe1778-8594-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Insurance

Missing hazard insurance declaration

Missing Hazard Insurance Declaration; Hazard Insurance Policy not in effect at time of closing.

10/17/2016:  Exception granted for properties located in CA when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves

50

474ffbe2-8094-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

10/28/2016:  Third party fraud report provided with all variances addressed, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves

50

97193125-d08c-442d-a6ff-65faf58ed5f5

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Special Information Booklet / Home Loan Toolkit

The loan file is missing a copy of the Home Loan Took Kit as evidence it was provided to the borrower.

10/27/2016: Documentation provided verifying that the Home Loan Toolkit was provided within 3 days of application, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves

50

412f75be-8994-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Changed Circumstance form

Missing changed circumstance form for CD dated XX/XX/XXXX reflecting a change in loan amount from $X,XXX,XXX to $X,XXX,XXX; change in rate from X.XX% to X.XX%, and change in discount points to $X,XXX and change in Broker Fees from $XX,XXX to $XX,XXX.

10/27/2016:  Audit has reviewed the documentation provided by the Lender and determined that there was a missing LE dated XX/XX/XXXX along with a valid change of circumstance supporting the loan amount increase, the rate increase, the discount increase, and Origination Fee increase, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves

50

dec8b2d3-b0fb-4458-8ad8-4ecf956c368e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

QM/ATR

Points and Fees exceed Qualified Mortgage threshold

$XX,XXX > $XX,XXX maximum points and fees allowed by Temporary Qualified Mortgage Testing

12/1/2016:  Per in house counsel, 2 discount points can be excluded from testing, therefore the loan no longer exceeds the points and fees QM threshold, condition cleared.   11/5/2016:  Rate Sheet provided, audit has reviewed and determined that the points are not bona fide, therefore the condition remains.  10/28/2016:  Final CD with an issue date of XX/XX/XXXX was already provided in the loan file and was used in the compliance review.  Points and Fees exceed QM threshold.  Maximum permitted $XX,XXX vs. actual $XX,XXX.  Please provide copy of rate sheet to determine if the points are bona fide.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves

50

c7841e4a-2282-45ac-9061-70beb2cd4d63

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

2

2

A

A

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated 07/15/2016 reflects an Appraisal fee of $995 and no fee for an Appraisal Fee 1004 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal fee in the amount of $710 and an Appraisal fee 1004D in the amount of $315 resulting in a $30 refund due for cure.

10/28/2016:  Copy of valid COC provided verifying change in appraisal fees to $710 and $315 for 1004D, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves

50

283d7114-5b95-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Missing Loan Estimate / LE Not in File

Missing the LE to reflect the loan amount of X,XXX,XXX to $X,XXX,XXX and the interest rate of X.XX%.

10/27/2016:  Audit has reviewed the documentation provided by the Lender and determined that there was a missing LE dated XX/XX/XXXX along with a valid change of circumstance supporting the loan amount increase, the rate increase, the discount increase, and Origination Fee increase, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves

50

2ff3cffc-a595-4f9f-bed7-f9ebab58dbd7

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number of the Settlement Agent is missing.

0/17/2016:  A Post Close CD in the loan file reflects the license ID.  Condition cleared.  The loan will be rated a B for all agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves

50

5649b9ba-2ea6-416f-81fb-e31a9fb35d9a

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent  disclosure for the borrower.

10/27/2016:  Copy of e-consent signed at closing provided, however please note, none of the documents were e-consented, therefore the e-consent signed at closing is not material, as it was not required, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves

50

9899aead-07d7-4b24-9026-d6d540524b96

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Missing evidence of borrower's documented Intent to Proceed.  Please provide the borrower's acknowledgement of Intent to Proceed.

10/27/2016:  Intent to proceed dated XX/XX/XXXX provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 806; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 68.22%; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #18.22 months excess reserves

92

2b8f6a9b-fb35-4064-8d27-b01e82620499

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License number of the Settlement Agent is missing.

10/10/2016:  A Post Closing CD in the loan file reflects the Settlement Agent's licence number.  Condition cleared.  The loan will be rated a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; No Mortgage Lates No Mortgage Lates in #84 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #40.35 months excess reserves

92

8681a251-158c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Homoeowner's Insurance premium in section F of the final Closing Disclosure is missing the service provider and the Transfer Taxes of section E is missing the government entity.

10/10/2016:  A Post Closing CD in the loan file provided the service provider and government entity.  Condition cleared.  The loan will be rated a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; No Mortgage Lates No Mortgage Lates in #84 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #40.35 months excess reserves

92

80fb16f6-cb74-44d7-8957-89c9e696078b

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Missing evidence of borrower's acknowledge of Intent to Proceed.  Please provide the acknowledge of the borrower's Intent to Proceed.

10/12/16: Lender provided the borrower’s documented intent to proceed. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; No Mortgage Lates No Mortgage Lates in #84 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #40.35 months excess reserves

92

7bf74796-e78e-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

General Credit Exception

Missing evidence of Third Party Origination documentation.

10/12/16: TPO provided. Broker obtained the application on XX/XX/XXXX and the loan submission package provided by the lender on XX/XX/XXXX. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; No Mortgage Lates No Mortgage Lates in #84 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #40.35 months excess reserves

92

46a04b80-968c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing evidence the liability in section 9 of the DU was paid in full.  Additional conditions may apply.

10/12/16: The obligation in question was closed on credit but not paid off at closing. It is included in the DTI.

10/12/16: Included the debt and DTI in line with 1008. Condition rescinded.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; No Mortgage Lates No Mortgage Lates in #84 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #40.35 months excess reserves

92

2b69c9d8-128c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply

10/12/16: Lender provided a copy of the third party fraud report. No outstanding issues noted. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; No Mortgage Lates No Mortgage Lates in #84 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #40.35 months excess reserves

92

065512ec-128c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing rate lock verification

Missing rate lock verification

10/12/16: Lender provided the rate lock verification. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; No Mortgage Lates No Mortgage Lates in #84 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #40.35 months excess reserves

92

d424d1ae-138c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Verification of Taxes and Insurance amounts for Rental Property

Missing evidence of taxes for the 2nd property listed on the Schedule of Real Estate Owned on the final loan application.

10/12/16: Lender provided a copy of the taxes for the REO. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; No Mortgage Lates No Mortgage Lates in #84 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #40.35 months excess reserves

46

b1a06472-d38c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Third Party Fraud Tool Supporting Documentation

Please provide an industry standard fraud tool along with any supporting documents based on fraud report findings. Additional conditions may apply.

10/11/2016:  Third party fraud report provided with all variances addressed, condition cleared.

46

882a36c8-fd86-4c18-8d48-6ff4dcb7dfea

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.

10/11/2016:  Post close CD provided reflecting the settlement agent contact information along with notification of error, condition cleared.

46

3f31e2ad-9145-423f-8da7-198bd9521232

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Missing the Borrower's Intent to Proceed.  The Intent to Proceed documentation is in the file however; it was not acknowledged by the Borrower.

10/11/2016:  Intent to proceed dated 7/28/2016 provided, condition cleared.

163

d9af0cef-e883-4b96-9fbe-e4c38453be94

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing.

11/17/2016:  Post close CD provided updating the disbursement date, the license number of the Settlement Agent, and the payee for the property taxes in Section F along with a copy of the notification of error, loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 739; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 18.40 months reserves; Years on Job Borrower has 28 years on job

163

63ee9950-576c-469a-9384-f3b64f96f97a

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

B

RA

A

A

TILA

Funding occurred before RTC Expiration Date

Funding occurred before RTC expiration date of XX/XX/XXXX. Please provide evidence when the loan disbursed ie..copy of internal screen shot showing the funding/disbursement date. If there has been an error reported on the CD, please provide an updated CD along with a copy of the notification of the error.

11/17/2016: Internal Screen shot provided from Lenders system reflecting the funding date as XX/XX/XXXX which is after the RTC Expiration Date.  A Post close CD was also provided updating the disbursement date, the license number of the Settlement Agent, and the payee for the property taxes in Section F along with a copy of the notification of error, loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 739; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 18.40 months reserves; Years on Job Borrower has 28 years on job

163

bcecf388-29a8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Property Taxes reflected in Section F of the final CD is missing the government entity.

11/17/2016:  Post close CD provided updating the disbursement date, the license number of the Settlement Agent, and the payee for the property taxes in Section F along with a copy of the notification of error, loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 739; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 18.40 months reserves; Years on Job Borrower has 28 years on job

163

db2d2701-2aa8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

11/17/2016:  Third party fraud report provided with all variances addressed, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 739; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 18.40 months reserves; Years on Job Borrower has 28 years on job

109

66caee5e-aa90-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

10/18/16: Lender provided the third party fraud report. No outstanding issues noted. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 55.64%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 750

109

527c8687-1eae-4470-b2bb-2fbf28586aeb

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing.

10/12/2016: Corrected post close CD in file reflecting missing license number. Loan will be graded a B for all agencies. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 55.64%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 750

109

790ae695-a890-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Homeowner's Insurance Premium in Section F of the final Closing Disclosure is missing the name of the payee.

10/12/2016: Corrected post close CD in file reflecting missing payee. Loan will be graded a B for all agencies. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 55.64%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 750

206

bace5fdd-a7ea-4576-a5e8-1f9927b9769d

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Missing evidence of borrower's documented Intent to Proceed.

12/16/2016:  Borrowers intent to proceed dated XX/XX/XXXX provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 59.56%; Reserves are higher than guideline minimum UW Guides require 9 months subject reserves, loan qualified with 43.70 months reserves

206

ef947a81-9dbc-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing seller’s Closing Disclosure

Missing seller's Closing Disclosure

12/16/2016:  Per compliance, ok to clear the finding with what the lender provided.  The CD does reflect the seller’s costs and now proof has been provided that the seller acknowledged receipt.  All seller CD requirements are met, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 59.56%; Reserves are higher than guideline minimum UW Guides require 9 months subject reserves, loan qualified with 43.70 months reserves

206

a19b8475-9cbc-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply

12/16/2016:  Third party fraud report provided with all variances addressed, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 59.56%; Reserves are higher than guideline minimum UW Guides require 9 months subject reserves, loan qualified with 43.70 months reserves

206

6601ead2-9dbc-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Legal Documents

Missing 4506-T

Missing final 4506-T for borrower business #1; Per Lender guidelines; a signed 4506-T is required at application and closing

12/15/2016: Condition waived based on business transcripts in the file. Executed 4506-T signed at closing deemed as non- material, loan will be graded a B.  Loan approved based on following: File contained 2 yrs personal & signed business tax returns, personal & business tax transcripts as well as applicable  P&L's and Balance Sheets. Borrower is S/E and file contains appropriate pre-consummation employment and income documentation. Client approved guideline exception for 4506-T.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 59.56%; Reserves are higher than guideline minimum UW Guides require 9 months subject reserves, loan qualified with 43.70 months reserves

206

a051eb9a-9dbc-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Executed Personal Tax Returns

Appendix Q, requires signed personal and business tax returns for self-employed borrowers. The tax returns in the file are not executed.  Loan is considered non QM compliant, as proof that signed/dated return was in the lender’s possession at or before consummation, cannot be verified.

12/16/2016:  Copies of both signed personal and business tax returns provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 59.56%; Reserves are higher than guideline minimum UW Guides require 9 months subject reserves, loan qualified with 43.70 months reserves

206

3a586047-9ebc-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing K-1

Missing 2015 K1's for business entity #2 and #3 with 2014 and 2015 K1 missing for business entity #4 required per QM; Loan is considered non QM compliant, additional conditions may apply

12/15/2016:  2015 K1's for business entity #2 and #3 were provided in the loan file, please note this is a combined K1, please refer to the Supplemental K-1 Information Statement, for the breakdown of these 2 entities. K1 for business entity #4 was is in file listed with an abbreviation of the name which also shows same EIN to evidence it’s the same company.  2015 K1 not required as 2014 K1 reflects FINAL.  Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 59.56%; Reserves are higher than guideline minimum UW Guides require 9 months subject reserves, loan qualified with 43.70 months reserves

206

08b4ed21-a8b2-467c-9901-e6c621c82b66

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Insurance

Flood Insurance not provided

Missing documented flood insurance; Flood certificate in file is illegible; additional conditions may apply.

12/16/2016:  Legible copy of the current flood policy provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 59.56%; Reserves are higher than guideline minimum UW Guides require 9 months subject reserves, loan qualified with 43.70 months reserves

79

823d033a-248b-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Please provide an industry standard fraud tool along with any supporting document based on fraud report findings. Please provide Fraud Report.  Additional conditions may apply.

10/07/16: Lender provided a third party fraud report for the borrowers. All variances have been addressed. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; No Mortgage Lates UW Guides require 0x30 days late in the most recent 24 months, Credit Report verifies 44 months payment history with no late payments reported ; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 38 months reserves

79

43387fd5-b430-4469-aaad-bf68299772db

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Special Information Booklet / Home Loan Toolkit

The loan file is missing a copy of the Home Loan Tool Kit as evidence it was provided to the borrowers.

10/07/16: Lender provided evidence of receipt of the special information booklet/Home Loan Tool Kit within 3 days of the application date. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; No Mortgage Lates UW Guides require 0x30 days late in the most recent 24 months, Credit Report verifies 44 months payment history with no late payments reported ; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 38 months reserves

79

2424834e-148b-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects a Credit Report fee of $50 with no resulting CoC for an subsequent disclosures.  The final CD reflects a Credit Report fee of $89.50 resulting in a $39.50 refund due for cure.

10/05/2016:  The final CD in the loan file reflects a $39.50  Credit Report charge cure.  Condition cleared.  The loan will be rated a B for Fitch and A for others.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; No Mortgage Lates UW Guides require 0x30 days late in the most recent 24 months, Credit Report verifies 44 months payment history with no late payments reported ; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 38 months reserves

79

ae46c0f7-1650-4bb3-8fce-bb698fab0d0e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,522.95 a month vs. the calculated value of $1,506.42 a month. The lender added estimated monthly hazard of $200.00 vs actual $183.50.

10/07/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; No Mortgage Lates UW Guides require 0x30 days late in the most recent 24 months, Credit Report verifies 44 months payment history with no late payments reported ; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 38 months reserves

102

4f14f1b7-6cd1-4126-b239-b3452a28f05c

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Appraisal Fee and Credit Report Fee in section B of the final Closing Disclosure did not properly disclose the name of the payee.  Please note that a letter of explanation to the borrower must also be issued.

10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of delivery. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808; Reserves are higher than guideline minimum UW Guides require 9  months reserves, loan qualified with 13.3 months reserves; Years on Job Borrower has 9.25 years on job

102

a2e119b9-2a88-4fc5-8972-9761a2d12d56

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects a Credit Report Fee of $25.00 with no resulting CoC for any subsequent disclosures.  The final CD reflects a Credit Report Fee of $29.75.  This fee is in a 0% tolerance section. Lender tolerance cure of $4.75 is required.

10/07/2016:  The final closing disclosure reflects a post close tolerance cure of $79.75, which consisted of the $4.75 refund to the borrower, which is sufficient.  Loan will be grade a B for Fitch and A for others.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808; Reserves are higher than guideline minimum UW Guides require 9  months reserves, loan qualified with 13.3 months reserves; Years on Job Borrower has 9.25 years on job

102

d369a602-c18c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

A

A

RA

A

A

TRID

Incorrect disclosure of Transfer Taxes - Section E

The transfer tax listed in section E of the final Closing Disclosure does not list the name of the government entity assessing the tax.

10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of delivery. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808; Reserves are higher than guideline minimum UW Guides require 9  months reserves, loan qualified with 13.3 months reserves; Years on Job Borrower has 9.25 years on job

102

d5c23ef8-c08c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

A

RA

A

A

TRID

Closing Disclosure document error

The XXXXX, HOA Dues, HOA Transfer Fee, NHD Fee, Real Estate Commission Buyers Broker and Real Estate Commission Sellers Broker fees are missing the name of the payee in section H of the Closing Disclosure.  Please note that a letter of explanation to the borrower must also be issued.

10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of delivery. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808; Reserves are higher than guideline minimum UW Guides require 9  months reserves, loan qualified with 13.3 months reserves; Years on Job Borrower has 9.25 years on job

102

0ae7ee46-0f74-4da8-b4cd-0617ca74afd0

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Provide an executed copy of the Intent to Proceed disclosure for the borrowers.

10/11/2016:  Intent to Proceed dated XX/XX/XXXX provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808; Reserves are higher than guideline minimum UW Guides require 9  months reserves, loan qualified with 13.3 months reserves; Years on Job Borrower has 9.25 years on job

102

c4062ca1-bf8c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply.

10/11/2016:  Third party fraud report provided with all variances addressed, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808; Reserves are higher than guideline minimum UW Guides require 9  months reserves, loan qualified with 13.3 months reserves; Years on Job Borrower has 9.25 years on job

155

22f5203d-e49a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Please provide an industry standard fraud tool along with any supporting document based on fraud report findings.  Additional conditions may apply.

11/02/16: Lender provided a copy of the third party fraud report and addressed issues regarding ownership interest in other properties. Included the property detail. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80.00%, loan qualified with CLTV of 59.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 802.; Years in Field Borrower has 21 years in the field.

155

b87b4a6a-e19a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

General Compliance Exception

Inaccurate placement of the tax lien in section H other which should be disclosed in the payoff and payments section on page three of the Closing Disclosure. Please provide a letter of explanation to the borrower, corrected CD, and evidence of delivery.

11/10/2016:  Post close CD provided listing the tax lien in the payoff and payment section only, along with a copy of the notification of error, loan will be graded a B, condition cleared.  11/02/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. However, the tax lien description and amount was left in section H and also posted in the payoff and payments section. Please provide the corrected CD showing only in the section Payoff and Payments in order to reconcile the cash required to close and proper disclosure. Condition maintained.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80.00%, loan qualified with CLTV of 59.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 802.; Years in Field Borrower has 21 years in the field.

155

4476db0d-a92c-4833-a2f0-37831ec4f116

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Missing evidence borrower receipt of Initial Closing Disclosure 3 business days prior to consummation.  The initial closing is dated XX/XX/XXXX.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.

11/02/16: Lender provided evidence of receipt of the initial closing disclosure on XX/XX/XXXX. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80.00%, loan qualified with CLTV of 59.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 802.; Years in Field Borrower has 21 years in the field.

155

80629a35-d79a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID SHOP Fee (Section C) & Recording Fee (Section E) exceed corresponding L.E. fee (10% Tolerance, when payee = Other or Borrower Permitted to shop for services)

Section E Recording Fees are subject to 10% tolerance.  LE dated XX/XX/XXXX reflects recording fees of $150 with no resulting COC for any subsequent disclosures.  Final CD reflects a recording charge of $200.00.

10/25/16: Corrected on the post close CD,$120.00 closing costs above the legal limit. Loan will be graded a B for Fitch and A for others.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80.00%, loan qualified with CLTV of 59.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 802.; Years in Field Borrower has 21 years in the field.

155

0f6be05f-d89a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Missing Loan Estimate / LE Not in File

The initial LE dated XX/XX/XXXX which corresponds with the WLSP in the loan file and the LE dated XX/XX/XXXX which corresponds with the COC dated XX/XX/XXXX are missing from the loan file. Additional conditions may apply.

10/31/2016:  this condition is invalid, the application is 08/11/2016, and the LE dated XX/XX/XXXX is within 3 days corresponds with the WLSP in the loan file. We  do not have LE dated XX/XX/XXXX, but there is the initial CD dated XX/XX/XXXX in the file

11/02/16: Lender provided the LE dated XX/XX/XXXX that corresponds with the COC located on page 30. Condition cleared. 11/1/2016: Audit has reviewed and determined that the WLSP dated before the LE is allowable since it was within the 3 days of application date window, therefore there is no LE dated XX/XX/XXXX, but dated XX/XX/XXXX.  Audit has also reviewed and determined that there appears to have been a typo and the LE that was not provided in the loan file was dated XX/XX/XXXX and not XX/XX/XXXX.  Please provide the LE dated XX/XX/XXXX that corresponds with the COC located on page 30.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80.00%, loan qualified with CLTV of 59.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 802.; Years in Field Borrower has 21 years in the field.

155

2d8a0d5d-81e3-472b-b91e-7ba404656791

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.  Please provide a corrected CD along with a LOE to the borrower and confirmation of delivery.

11/02/16: Lender provided the post close corrected CD, LOE to the borrower, and evidence of mailing. Loan will be graded a B.  Condition cleared.10/25/216:  A Post Close CD in the loan file did not reflect the Settlement Agent's License ID.  Condition remains.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80.00%, loan qualified with CLTV of 59.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 802.; Years in Field Borrower has 21 years in the field.

155

8f4c18a3-eefb-4a74-8ca9-8ac58f11344f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

B

RA

A

A

TILA

Funding occurred before RTC Expiration Date

The right to cancel is dated to expire on midnight the date of consummation.

10/25/16: Corrected on the post close/Funding CD. Loan will be graded a B for Fitch and A for others .

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80.00%, loan qualified with CLTV of 59.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 802.; Years in Field Borrower has 21 years in the field.

155

c9de9d57-e09a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Post Closing Disclosure, Section F, Property Taxes, is missing the correct name of the taxing authority. Please provide a letter of explanation to the borrower, corrected CD, and evidence of delivery.

11/02/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.  Loan will be graded a B.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80.00%, loan qualified with CLTV of 59.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 802.; Years in Field Borrower has 21 years in the field.

155

6264c626-d81e-4fdc-b655-4ffc3c74ee0f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Missing the Borrower's Intent to Proceed.  An acknowledgement is in the loan file however; it is not executed by the borrowers.

11/02/16: Lender provided the borrower's documented intent to proceed. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80.00%, loan qualified with CLTV of 59.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 802.; Years in Field Borrower has 21 years in the field.

61

1fef3fe3-c88b-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

B

RA

A

A

TILA

Funding occurred before RTC Expiration Date

The Right To Cancel expired on XX/XX/XXXX and the final Closing Disclosure reflected the loan disbursed prior to this date.

10/06/2016:  A Post Closing CD reflected the correct disbursement date of XX/XX/XXXX.  Condition cleared.  The loan will be rated a B for Fitch and A for others.

61

6edc09cf-f38b-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Third Party Fraud Tool Supporting Documentation

Please provide an industry standard fraud tool along with any supporting documents based on fraud report findings. Additional conditions may apply.

10/7/2016:  Third party fraud report provided with all variances addressed, condition cleared.

68

f5cb00e6-1c8f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Marital status box not checked for co borrower on final application. Additional conditions may apply.

10/18/16: Lender provided the complete final 1003 showing the marital status of the co borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.81 months reserves

68

e1a273bc-1a8f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing final application (1003)

Missing page 2 & 3 of the final application. Additional conditions may apply.

10/18/16: Lender provided the complete final 1003 showing the marital status of the co borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.81 months reserves

68

211b3809-1b8f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing asset documentation

Missing terms of withdrawal for 401k.

10/31/2016:  401K withdrawal terms provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.81 months reserves

68

5d65dfd7-1a8f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply.

10/18/16: Lender provided the third party fraud report. No outstanding issues noted. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.81 months reserves

68

b7c9916f-c250-4951-9012-f20a815d1d20

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $595 with no resulting CoC for any subsequent disclosures. The Final CD dated reflects an Appraisal Fee of $620 resulting in a $25 refund due for cure.

10/10/2016: Final CD shows a sufficient tolerance cure in the amount of $25.00. Loan will be graded a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.81 months reserves

68

6d2b0135-f449-4011-8adc-19221f39b094

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

Yes

3

3

2

A

A

RA

A

A

TRID

Total Interest Percentage (TIP) is not accurate.

The Final CD reflects Total Interest Percentage (TIP) of XX.XX% vs actual TIP of XX.XX with a difference of 4.994% over-disclosed.

10/18/16: The final CD signed at closing shows a TIP of XX.XX% which matches the actual TIP of XX.XX%. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.81 months reserves

68

fed68d1f-2dc7-438b-b0d2-c9ddfb9993e6

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing.

10/11/2016:  A Post Closing CD provided in the loan file reflects a License ID for the Settlement Agent.  Loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.81 months reserves

68

88551f9f-6480-4c13-83e1-5786c717fb5c

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

TILA

Funding occurred before RTC Expiration Date

Final CD reflects funding occurred before RTC Expiration Date. Borrowers were not provided a 3 day rescission period. Please provide evidence of when funds were disbursed. Additional conditions may apply.

10/18/16: Lender provided an evidence of the funding date which was after the 3 day rescission period. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.81 months reserves

68

13b00c10-4953-4754-8b84-b001caafdabc

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure  indicates the Estimated Taxes, Insurance and Assessments as $874.06 a month vs. the calculated value of $875.56 a month. The lender used the incorrect amount of $80.00 for the hazard insurance vs. the actual amount of $81.50.

10/10/2016: Corrected on post close CD.  Loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.81 months reserves

68

123e827b-1f8f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Homeowners Insurance in Section F is missing the name of the payee.

10/11/2016:  A Post Closing CD provided in the loan file reflects the name of the payee for the Homeowner's Insurance.  Loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.81 months reserves

156

001fb0df-601f-4e2b-a898-42dc33c44402

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

RA

A

A

General Compliance

General Compliance Exception

MA - Demonstration and Documentation of Compliance with Borrower's Interest Requirement (Lender signature required) is Not in File.

10/19/2016:  Subject property is not located in MA, therefore this condition was placed in error, condition is rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 42.25%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.4 months reserves

156

c57004d3-9f0d-4797-b8f2-886f9a6f2866

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Waiver by borrower of C.D. timing requirement not properly documented for APR variance (Under disclosed)

Missing evidence of APR re-disclosure. The final Closing Disclosure reflects an APR of 4.077%. The prior Loan Estimate dated XX/XX/XXXX reflects an APR of 3.830%, which is a difference of 0.247% and exceeds allowable tolerance of 0.125%

10/14/2016:  Audit has reviewed and determined that a valid COC was provided supporting the increase in the APR, therefore condition has been rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 42.25%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.4 months reserves

156

cee1d91b-af7d-4e6d-a594-495deee255cc

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Title – Closing/Escrow Fee, Title – Document Preparation Fee, Title – Loan Tie-In Fee and Title – Wire Transfer Fee are reflected in section B of the final Closing Disclosure. The borrower shopped for their own title service provider and did not use the provider on the WLSP.  The title service provider fees should be listed in section C of the CD.

10/19/2016:  Audit has reviewed and determined that the current title fees listed in Section B are indeed from a provider that was listed on the WLSP (see pg 74), therefore these fees are listed correctly and do not need to be moved to Section C.  To further verify, these title fees listed in Section B are within 10% tolerance, therefore this condition is not valid and is rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 42.25%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.4 months reserves

156

31631d48-abe3-4d0c-b105-145070ae7079

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

APR on Final Closing Disclosure is inaccurate in relation to previous Initial disclosure(s) – no evidence of further re-disclosure in file (APR > 0.125 variance – Under disclosed)

Missing evidence of APR re-disclosure. The final Closing Disclosure reflects an APR of 4.077%. The prior Loan Estimate dated XX/XX/XXXX reflects an APR of 3.830%, which is a difference of 0.247% and exceeds allowable tolerance of 0.125%

10/14/2016:  Audit has reviewed and determined that a valid COC was provided supporting the increase in the APR, therefore condition has been rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 42.25%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.4 months reserves

156

551f3805-7a91-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Insurance

Missing hazard insurance declaration

The effective date of the hazard insurance policy is XX/XX/XXXX, which is after the closing date.  Unable to issue client waiver as effective date of XX/XX/XXXX was not on or before disbursement date of XX/XX/XXXX.

10/19/2016:  Audit has reviewed and determined that the loan did not actually fund until XX/XX/XXXX, therefore the subject hazard policy is acceptable.  Investor is providing a blanket waiver for purchase transactions closed in the subject property State where the effective date of the hazard insurance is after the Note date but on or prior to the transfer of funds date.  Final grade will be a B non-material on these waived exceptions.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 42.25%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.4 months reserves

156

f05764d3-ac90-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply.

10/19/2016:  Third party fraud report provided with all variances addressed, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 42.25%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.4 months reserves

91

ee313a16-c78c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Legal Documents

Missing Documentation

Evidence of Lender of Record Application Date is not provided in file.

10/12/16: Upon further review, audit has determined the disclosures are in compliance. Condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 21.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 792; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.09%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #66.42 months excess reserves

91

c6e738f6-c68c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply

10/14/2016:  Third party fraud report provided with all variances addressed, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 21.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 792; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.09%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #66.42 months excess reserves

91

a81ca849-c78c-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Terms/Guidelines

Missing Evidence of HELOC Draw for the Past 12 Months

Missing 12 months draw history to verify that no draws greater than $2000 has occurred; Additional conditions may apply

10/12/2016:  Review of credit report in the file, reflects a 38 month draw history. HELOC included in cash out total. Condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 21.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 792; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.09%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #66.42 months excess reserves

91

85416793-ddea-4100-b069-708f4ab38e03

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Missing evidence of borrower and non-borrowing spouse receipt of Initial Closing Disclosure 3 business days prior to consummation. When factoring mailbox rule/presumed receipt,the timing requirement to consummation is not met.

10/21/2016:  Received copy of initial CD verifying non-borrowing spouse also acknowledged the Initial CD on XX/XX/XXXX via wet signature, which is at least 3 business days prior to consummation, condition cleared.   10/13/2016:  Lender provided a copy of eDisclosure History verifying borrower eConsented the Initial CD documents on XX/XX/XXXX which is at least 3 days prior to consummation, however pending evidence that the non-borrowing spouse also acknowledged the Initial CD 3 business days prior to consummation.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 21.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 792; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.09%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #66.42 months excess reserves

91

19ed4fbd-8e3c-42db-88d5-39787c1cb9fa

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Lender Refund to Cure insufficient to cover overages in C.D. Services Borrower DID NOT SHOP Fee - Section B (Undisclosed and Under Disclosed)

Credit report Fee and recording fee on the final CD are $75.00 and $105.00. LE dated XX/XX/XXXX does not list Credit Report Fee and the Recording Fee is $100.00 . The recording fee and credit report fees are in a 0% tolerance sections. Lender tolerance cure of $80.00 is required.  Section J reflects $78.00 tolerance cure that is insufficient.

10/14/2016:  Audit has reviewed and determined that the Recording Fee actually has a 10% tolerance, not a 0% tolerance as stated prior.  Borrower meets the 10% cumulative tolerance threshold since the borrower did not shop.  However the credit report fee is subject to 0% tolerance, therefore a $75 cure was required since the credit report fee was not disclosed on the initial LE nor was the addition of the fee supported by COC.   Lender did provide the $75 cure on the Final Post Close CD that was provided to borrower at disbursement, which is sufficient.  Loan will be graded a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 21.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 792; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.09%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #66.42 months excess reserves

91

44a191a0-3fc9-4fae-9676-5110bbe2d287

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number and/or State License number of the Settlement Agent is missing.

10/14/2016:  Received post close CD updating the contact information for the settlement agent, along with a copy of the notification of error, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 21.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 792; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.09%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #66.42 months excess reserves

91

1fb06052-a6f3-44e0-8ceb-3d2746827788

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

TILA

Funding occurred before RTC Expiration Date

Right to Cancel provided in the loan file reflects a transaction date of XX/XX/XXXX with an expiration date of XX/XX/XXXX. The loan disbursed on XX/XX/XXXX - not giving the Borrower a full 3 days rescission.

10/13/2016:  The CD in question was from the Dry Closing, Lender submitted the Final/Post Close CD from Disbursement verifying the actual disbursement date to be XX/XX/XXXX.  This was also supported by a screen printout from the Lenders Internal Operating System verifying the funding was indeed XX/XX/XXXX, therefore the borrower was given the 3 full days of rescission, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 21.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 792; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.09%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #66.42 months excess reserves

91

fb618112-c40a-4a3c-8079-d6f258dfa58e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent disclosure for the co-borrower.

10/21/2016:  Borrower's e-consent was provided in the loan file, there is no co-borrower, and non-borrowing did not e-consent to any documents therefore an e-consent was not required, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 21.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 792; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.09%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #66.42 months excess reserves

91

8ad3f189-ea66-4927-97fb-e314f41fe0a2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Missing evidence of borrower's documented Intent to Proceed.

10/14/2016:  Intent to proceed dated XX/XX/XXXX provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 21.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 792; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.09%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #66.42 months excess reserves

87

c618573e-c79a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Legal Documents

Missing Documentation

The HELOC agreement for the borrower's other real estate owned is not signed. Please provide the signed executed copy of the agreement. Additional conditions may apply.

10/28/2016:  Why would it need to be executed it is reporting on the borrower’s credit already this is the borrowers copy they obtained when they signed docs they do not obtain their signed copy back. This shouldn’t be necessary it isn’t a new loan it is a seasoned loan on credit.

10/31/2016:  Audit has reviewed and determined that the HELOC in question is an existing HELOC and has been reviewed on the credit report for the past 23 months, there for a signed HELOC agreement is not required, condition rescinded.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 805; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12 months reserves; Years on Job Borrower has 6.25 years on job

87

6be5838e-479a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

11/02/16: Lender provided a copy of the third party fraud report. No outstanding issues noted. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 805; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12 months reserves; Years on Job Borrower has 6.25 years on job

87

e7dc4d34-c69a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

General Compliance Exception

The Transfer Tax in section E and the property taxes in Section F are missing the taxing authorities. The regulations that cover the disclosure of transfer tax (1026.38(g)(1)) and property tax (1026.38(g)(2)) require a payee to be listed. Please provide a letter of explanation to the borrower, corrected CD, and evidence of delivery.

11/02/16: Lender provided the post close corrected CD, LOE to the borrower, and evidence of mailing.  Loan will be graded a B.  Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 805; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12 months reserves; Years on Job Borrower has 6.25 years on job

87

5730ddb5-f381-4fa2-91c3-713fb0686aa2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Special Information Booklet / Home Loan Toolkit

The loan file is missing a copy of the Home Loan Tool Kit as evidence it was provided to the borrowers.

11/02/16: Lender provided evidence of receipt of the Home Loan Tool Kit within 3 days of the application date. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 805; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12 months reserves; Years on Job Borrower has 6.25 years on job

87

2d61fdc7-65ae-4776-9af4-73f3cc2f20b7

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.

11/02/16: Lender provided the post close corrected CD, LOE to the borrower, and evidence of mailing. Loan will be graded a B. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 805; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12 months reserves; Years on Job Borrower has 6.25 years on job

87

3e4fa2e4-71ef-4ff1-b240-3880e1c552d0

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Homeowner's Insurance Premium in section F is missing the service provider.

10/24/2016:  A Post Close CD in the loan file contains the service provider for HOI in section F.  Condition cleared.  The loan will be rated a B for all agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 805; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12 months reserves; Years on Job Borrower has 6.25 years on job

87

94459a73-499a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent disclosure for the borrowers.  The E Consent in the loan file is dated XX/XX/XXXX which is after the first documents was esigned and there is not other tracking in the loan file.

11/10/2016: Copy of signed e-consent dated XX/XX/XXXX provided, condition cleared.    11/3/2016:  Received copy of the initial disclosure packet dated XX/XX/XXXX, however the Consent to Receive Communications Electronically is not executed, please provide.  11/02/16: Lender provided an audit trail however, not the evidence of the borrower's consent to receive documentation electronically. Condition maintained.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 805; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12 months reserves; Years on Job Borrower has 6.25 years on job

87

ea5992af-656f-4a1e-9c79-1dba36330e5d

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Missing the Borrower's Intent to Proceed.  Provided the Borrowers acknowledgment of their Intent to Proceed.  The loan file contains a copy of the Intent to Proceed however; it is not signed.

11/2/16: Lender provided evidence of the borrower's documented intent to proceed. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 805; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12 months reserves; Years on Job Borrower has 6.25 years on job

87

b8fda1f2-c69a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing seller’s Closing Disclosure

File is missing the seller's closing disclosure. Additional conditions may apply.

11/02/16: Lender provided a copy of the seller's closing disclosure. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 805; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12 months reserves; Years on Job Borrower has 6.25 years on job

147

efd2bb3b-97a3-49d3-b087-12439a468636

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Missing evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation. When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met. The initial closing disclosure is signed after the mortgage date.

11/29/2016 Lender provided initial CD signed by Co-borrower on XX/XX/XXXX. Condition cleared. 11/28/2016: Lender provided a copy of eDisclosure History verifying that the borrower eConsented the Initial CD documents on XX/XX/XXXX which is at least 3 days prior to consummation, however, missing evidence that the non-borrower consented the initial CD on 10/17/2016.  On rescindable transaction, the CD must be delivered to each consumer how has the right to rescind (both borrowers and non-borrowers)  Acknowledgment of receipt of the CD must be obtained from each consumer who receives the disclosure.   Also pending:  Please provide a copy of the E-Consent dated prior to 10/17/2016, E-Consent in file is dated at closing.  E-Consent given with the initial disclosures was not executed.  If the non-borrower also E-Consented, please provide a copy of their E-Consent.   11/15/2016:  Evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation not provided, condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 10.27 months reserves

147

3d374b00-96a7-41c5-9849-329107bbe570

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

All loan costs associated with the transaction need to be listed regardless of who pays the fee.1026.38(f) Under the master heading “Closing Cost Details” with columns stating whether the charge was borrower-paid at or before closing, seller-paid at or before closing, or paid by others, all loan costs associated with the transaction, listed in a table under the heading “Loan Costs.” The table shall contain the items and amounts listed under four subheadings, described in paragraphs (f)(1) through (5) of this section. The final CD is missing the Appraisal Report fee.

11/15/2016:  Post close CD provided listing the Appraisal Report fee along with the notification of error, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 10.27 months reserves

147

b00caec1-6d50-449c-99d4-a3101e17eb7f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Naming Convention in Services Borrower DID NOT SHOP Fee - Section B in C.D. is not consistent

The Credit Report Fee was paid to the Broker not the service provider.

11/15/2016:  Post close CD provided listing the credit report fee paid to the broker for the benefit of the credit report agency along with the notification of error, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 10.27 months reserves

147

49c17994-bad8-419e-b83b-25901a82270d

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure  Contact Information section is incomplete.  The License Number of the Settlement Agent is missing.

11/15/2016:  Post close CD provided listing the contact information for the settlement agent along with the notification of error, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 10.27 months reserves

147

8bf5e254-baa6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Property Taxes listed in Section F of the final CD is missing the name of the payee.

11/15/2016:  Post close CD provided listing the payee for the property taxes along with the notification of error, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 10.27 months reserves

147

8c1fc27f-b9a6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Illegible Documentation

Letter of explanation on page 200 is illegible.

11/15/2016 Legible copy of page 200 provided.   This was the LOE for the purpose of cash out, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 10.27 months reserves

147

e5ad62ad-b9a6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing income documentation

Missing paystub dated within 30 days of application date. Per Lender's guideline's paystubs must be dated no earlier than 30 days prior to the application date.

11/15/2016:  Lender provided a written verification of employment dated XX/XX/XXXX containing year to date earnings and income for 2015 and 2014, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 10.27 months reserves

147

ef48f3ed-b8a6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Income/Employment

Missing verbal verification of employment

Verbal verification of employment dated XX/XX/XXXX is expired. Per lender guidelines the Verbal verification of employment must be dated 10 days prior to the note.

11/11/2016:  Dated XX/XX/XXXX, Note date is XX/XX/XXXX They can’t count weekends in the 10 days and can’t count XX/XX/XXXX per funder as that was a legal holiday day so it is still valid exactly 10 days.

11/15/2016:  Audit has reviewed and determined that the VVOE provided in the loan file is dated within 10 business days of the Note date.  Please note that XX/XX/XXXX was a legal holiday, therefore could not count that day, condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 10.27 months reserves

147

49ca9d2d-b9a6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

11/15/2016:  Third party fraud report provided with all variances addressed, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 10.27 months reserves

147

e7beb75b-b9a6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing LOE

Missing Letter of Explanation for reason for cash out.

11/15/2016:  LOE provided from borrower verifying cash out is for home improvement, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.914%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 10.27 months reserves

161

8c565d99-b0aa-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Illegible Documentation

Profit & Loss for Schedule C income is illegible. Per appendix Q, P&L is necessary for the loan to be classified as a Qualified Mortgage and a  Profit & Loss Statement is in the loan file however; it is illegible.

11/23/2016 Lender provided legible P&L. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 18.506%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17.59  months reserves

161

955dddc6-b1aa-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing verbal verification of employment

Co-borrower's Verbal Verification of Employment is dated XX/XX/XXXX. Please correct to current year.

11/23/2016 Lender provided corrected VVOE. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 18.506%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17.59  months reserves

161

392f15f4-b1aa-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

10/23/2016 Lender provided Fraudguard. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 18.506%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17.59  months reserves

161

592175c5-b0aa-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Balance Sheet

Balance Sheet for Borrower’s Schedule C business is missing the name of the Business and the To and From dates. Per appendix Q, a Balance Sheet is necessary for the loan to be classified as a Qualified Mortgage.  A Balance Sheet was provided in the loan file however; it is missing documentation for the business.

11/30/2016:  Per compliance, the initial balance sheet located in the original loan file does show the business name at the top of the sheet but appears it was partially cut off in fax.  It is dated 2016 with a signature date of XX/XX/XXXX,  so we are safe to assume it is from XX/XX/XXXX – XX/XX/XXXX, condition cleared.  11/30/2016:  Escalated to compliance for review.  11/23/2016 Lender provided Balance Sheet, however it is through a date that is post close. To qualify as a QM loan all documentation must be prior to consummation. Condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 18.506%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17.59  months reserves

161

782b6763-b2aa-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Property Taxes in section F of the final Closing Disclosure is missing the government entity.

11/23/2016 Lender provided post close CD updating the payee in Section F, along with notification of error, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 18.506%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17.59  months reserves

187

66dd3c39-2e0c-433f-84d6-304fbf81601b

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects a Credit Report Fee of $XXX and an Appraisal Fee of $XXX with no resulting CoC for any subsequent disclosures.  The final CD reflects a Credit Report fee of $XXX.XX and an Appraisal Fee of $XXX resulting in a $XXX.XX refund due for cure.

11/11/2016:  A RESPA credit report and appraisal fee charge cure of $XXX.XX was reflected on the final CD.  Condition cleared.  The loan will be rated a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 216.10 months reserves

187

209b96c0-33a8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of DID SHOP Fee (Section C) & Recording Fee (Section E)

The City/County Tax Stamps in section E of final CD is missing the government entity.

11/17/2016:  Post Close CD provided adding the payees for City/County Tax Stamps, hazard insurance, and real estate commission for the sellers broker along with the notification of error, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 216.10 months reserves

187

54cd328f-9127-4e8d-9a47-3d09cd8ebeb8

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Transfer tax Fees on C.D. exceeds corresponding LE fees (0% Tolerance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects Transfer Taxes of $XXXX with no resulting COC for subsequent disclosures.  The final CD reflects taxes in Section E of $XXXX resulting in a variance of $XXX.  Refund for cure due.

11/11/16:  A RESPA Transfer Tax charge cure of $XXX is reflected on the final CD.  Condition cleared.  The loan will be rated a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 216.10 months reserves

187

8ebb5bf1-33a8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Homeowner's Insurance in section F  and Real Estate Commission Sellers Broker of section H are missing the name of the service providers.

11/17/2016:  Post Close CD provided adding the payees for City/County Tax Stamps, hazard insurance, and real estate commission for the sellers broker along with the notification of error, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 216.10 months reserves

187

6fc32745-31a8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

11/17/2016:  Third party fraud report provided with all variances addressed, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 216.10 months reserves

187

0ae48509-96a7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Legal Documents

Missing 4506-T

Missing the final executed 4506-T's for business 1,2, 6, 7 and 8 listed on statement 5 of Schedule E of the 1040 Tax Returns.

11/17/2016:  Condition waived based on business transcripts in the file. Executed 4506-T signed at closing is deemed as non- material. Loan approved based on following: File contained 2 yrs personal & signed business tax returns, personal & business tax transcripts as well as applicable  P&L's and Balance Sheets. Borrower is S/E and file contains appropriate pre-consummation employment and income documentation. Client approved guideline exception for 4506-T.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 216.10 months reserves

167

88523990-cfa5-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

B

B

CB

B

B

Legal Documents

Missing 1008 or Underwriter Approval

Missing lender loan approval/ 1008.

11/17/2016:  1008 and Lenders Loan Approval provided, condition cleared. Lender approval was in review file. Loan terms from lender approval were met. File was reviewed it contained all pre-consummation documents to satisfy Appendix Q. 1008 was missing from review file and was provided by lender..

FICO is higher than guideline minimum 768 credit report; LTV is lower than guideline maximum 80% allowed 85%; Years in Field 17 years in field

167

53160b7c-cea5-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

11/17/2016:  Third party fraud report provided with all variances addressed, condition cleared.

FICO is higher than guideline minimum 768 credit report; LTV is lower than guideline maximum 80% allowed 85%; Years in Field 17 years in field

167

17519be8-ada6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

General Compliance Exception

The NHD Fee in section H is missing the name of the service provider.

11/9/16:  A Post Close CD in the loan file reflects the name of the service provider.  Condition cleared.  The loan will be rated a B for all agencies.

FICO is higher than guideline minimum 768 credit report; LTV is lower than guideline maximum 80% allowed 85%; Years in Field 17 years in field

167

cf270ff4-aca6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Incorrect disclosure of Transfer Taxes - Section E

The Transfer Tax in section E is missing the name of the government entity.

11/9/16:  A Post close CD reflects the government entity.  Condition cleared.  The loan will be rated a B for all agencies.

FICO is higher than guideline minimum 768 credit report; LTV is lower than guideline maximum 80% allowed 85%; Years in Field 17 years in field

167

801343a8-025b-45ec-bb09-1201315201ad

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing.

11/08/2016:  A Post Close CD in the loan file reflects the license number.  Condition cleared.  The loan will be rated a B for all agencies.

FICO is higher than guideline minimum 768 credit report; LTV is lower than guideline maximum 80% allowed 85%; Years in Field 17 years in field

167

9f257ef1-dcd0-4119-a9e0-dcb967830453

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The post Closing Disclosure indicates the Estimated, Taxes, Insurance and Assessments as $XXXX a month vs. the calculated value of $XXXX a month.  The lender used the incorrect amount of $XXXX vs. the actual amount of $XXXX.

11/17/2016:  Audit has reviewed and determined that there was an input error and the actual premium should be $XXX.XX, therefore the estimated taxes, Ins & Assessments are now reporting accurately, condition rescinded.

FICO is higher than guideline minimum 768 credit report; LTV is lower than guideline maximum 80% allowed 85%; Years in Field 17 years in field

167

1c37b14a-ada6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

A

RA

A

A

TRID

Closing Disclosure document error

The Homeowner's Insurance Premium in section F is missing the name of service provider and reflects the premium as $1,200 per year however; the actual policy reflects the amount is $XXX.XX per year. Furthermore, the Property Taxes is missing the government entity.

11/21/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.11/9/2016:  A Post Close CD reflects the service provider and correct amount for the hazard insurance.  The Property taxes is still missing the government entity.  Condition remains.

FICO is higher than guideline minimum 768 credit report; LTV is lower than guideline maximum 80% allowed 85%; Years in Field 17 years in field

108

6d5e4cf0-eba5-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply

11/15/2016:  Third party fraud report provided with all variances addressed, condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.07%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24 months reserves

108

e85e8b1a-68af-4399-9577-b57afa548836

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

A

A

RA

A

A

TRID

Naming Convention in Origination Charges - Section A on C.D is not consistent

The naming convention of fees in section A of the CD is not consistent.  The final CD reflects Originator Compensation in the amount of $X,XXX and the Post Closing CD reflects a breakdown into the following two fees:  Originator Compensation in the amount of $X,XXX and Lock Extension Fee A1 in the amount of $XXX.

11/21/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.11/15/2016:  No changes were made on the post close CD, condition remains.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.07%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24 months reserves

108

3bc13926-2165-48db-a0e2-6e69bb1cb7f2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The final Closing Disclosure failed to reflect the Appraisal Fee of $500.00 in section B.  Additionally, a Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file.  The Credit Report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

11/15/2016:  A post close CD provided reflecting the credit report fee paid by other, along with a copy of the notification of error, loan will be graded a B.  11/09/2016:  A Post Closing CD provided in the file reflects the Appraisal Fee in section B, however the Credit Report Fee must also be disclosed or an attestation provided.  Loan will be rated a B for all agencies.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.07%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24 months reserves

108

ebcb77a1-feb9-4151-846b-706a5fa68251

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.

11/09/2016:  A Post Closing CD provided in the file reflects the License ID of the Settlement Agent.  Loan will be rated a B for all agencies.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.07%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24 months reserves

108

b0574d36-4630-4e22-be7e-bec0a0665a2e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,331.65 a month vs. the calculated value of $1,235.51 a month. The lender used the incorrect amount of $150.00 Homeowner’s Insurance vs. the actual amount of $1,255.51.

11/15/2016:  Estimated Taxes, Insurance & Assessments section on Loan Estimate not reflected accurately, loan will be graded a B.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.07%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24 months reserves

108

df3b81cd-9fa6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The property taxes in section F of the final Closing Disclosure are missing the government entity.

11/09/2016:  A Post Closing CD provided in the file reflects the government entity for the property taxes in section F.  Loan will be rated a B for all agencies.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.07%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24 months reserves

179

82bd4bdc-c6ac-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply.

12/01/16: Lender provided the third party fraud tool. All variances/outstanding issues addressed. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 27.60 months reserves; Years on Job Borrower has 15 years on the job

179

f4047470-c6ac-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.  Please note that a letter of explanation to the borrower must also be issued.

12/01/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 27.60 months reserves; Years on Job Borrower has 15 years on the job

179

5a14bc0f-f93d-469d-af66-828a54418652

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

A

RA

A

A

TRID

Closing Disclosure document error

The property taxes in section F of the final Closing Disclosure are missing the government entity.  Please note that a letter of explanation to the borrower must also be issued.

12/01/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 27.60 months reserves; Years on Job Borrower has 15 years on the job

179

d235c31a-a1ad-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Provide an executed copy of the Intent to Proceed disclosure for the borrower.

12/01/16: Lender provided the borrower's documented intent to proceed. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 27.60 months reserves; Years on Job Borrower has 15 years on the job

223

e64ce56b-08b8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file.  The Credit Report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

12/8/2016: Upon further investigation it has been determined that the attestation provided is sufficient to clear the finding.  12/08/16: Escalated to compliance for review, will advise as soon as possible.   12/5/2016:  Received LOE from Funder stating the Lender does not charge the borrower for this service, however per Compliance, we need an attestation that they pay an annual fee to the Vendor and there is no specific charge allocated to the transaction in question, please provide.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  67.10 months reserves

223

deae90eb-e8b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Incorrect disclosure of Transfer Taxes - Section E

The transfer tax listed in section E of the final Closing Disclosure does not list the name of the government entity assessing the tax.

12/01/2016: A Post Closing CD provided in the file reflects the transfer tax government entity.  Loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  67.10 months reserves

223

cef01e09-ef9a-4373-95e4-ff5a5ff7157b

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing.

11/30/2016:  A Post Close CD in the loan file reflects the license number.  Condition cleared.  The loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  67.10 months reserves

223

67b3493a-4c63-4301-ba9d-f003cc8a8ef1

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,345.50 vs. the calculated value of $1,368.59 a month.  The lender used the incorrect amount of $220.50 vs. the actual amount of $243.58.

11/30/2016:  A Post Close CD in the loan file corrected the escrow fees.  Condition cleared.  The loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  67.10 months reserves

223

7d54a77f-35b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The hazard insurance premium in section F of the final Closing Disclosure is missing the name of the payee and the property taxes in section F of the final Closing Disclosure are missing the government entity.  Additionally, the NHD Fee, Real Estate Commission Buyers Broker and Real Estate Commission Sellers Broker Fees are missing the name of the service providers.

11/30/2016:  A Post Close CD in the loan file reflects the payee, government entity and service providers.  Condition cleared for all.  The loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  67.10 months reserves

223

51a2d177-e8b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing seller’s Closing Disclosure

Seller's CD was not provided in the loan file.

12/5/2016:  Per compliance, ok to clear the finding with what the lender provided.  The CD does reflect the seller’s costs and the sellers provided evidence that they acknowledged receipt on page 61 of the loan file.  All seller CD requirements are met, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  67.10 months reserves

223

35c3ac2c-35b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Insurance

Missing hazard insurance declaration

The loan file is missing the hazard insurance declaration prior to closing.  The hazard insurance declaration is effective XX/XX/XXXX which is after the Note date.

11/30/2016:  Exception granted for properties located in CA when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  67.10 months reserves

223

8df13a12-35b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply

12/5/2016:  Third party fraud report provided with all variances addressed, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  67.10 months reserves

223

c2d45784-33b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Legal Documents

Missing 4506-T

Missing the initial and final 4506-T for the borrower's Corporation.  A 4506-T is in the file however, it is dated after the initial 1003.

12/5/2016:  A 4506-T was provided in the loan from application process and is dated XX/XX/XXXX.  There is no regulation nor is it listed in the investor guidelines stating that the 4506-T must be signed on the date of application nor within 3 days of the initial application.  The 4506-T must be provided during the "application process" and at closing per the investor guideline, in which both have been provided, therefore condition is rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 37.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  67.10 months reserves

175

36103582-51a7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Illegible Documentation

2014 & 2015 W-2 forms provided in the file are illegible.  Legible documentation must be provided.

11/15/2016:  Legible 2014 & 2014 W-2 forms provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.02%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 804; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 83.30 months reserves

175

e30725c9-51a7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply.

11/15/2016:  Third party fraud report provided with all variances addressed, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.02%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 804; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 83.30 months reserves

175

8337864c-64c7-4e3c-83fe-527f5679c8a7

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file.  The Credit Report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

11/15/2016:  Copy of the Notification of error and corrected CD provided, loan will be graded a B.  11/15/2016:  Lender provided post close CD reflecting the credit report fee as paid by the lender, please provide copy of the notification of error to the borrower.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.02%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 804; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 83.30 months reserves

175

ed0e745f-c395-4448-8cec-bfeb884a7ebd

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.  Please note that a letter of explanation to the borrower must also be issued.

11/10/2016:  A Post Closing CD was provided in the file reflecting the License ID of the Settlement Agent.  Loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.02%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 804; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 83.30 months reserves

175

41079f89-52a7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The property taxes in section F of the final Closing Disclosure are missing the government entity.  Please note that a letter of explanation to the borrower must also be issued.

11/10/2016:  A Post Close CD provided in the file reflecting the government entity for the property taxes is reflected in section F.  Loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.02%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 804; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 83.30 months reserves

208

7019665e-04b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply.

12/08/16: Lender provided a copy of the third party fraud report. No outstanding variances noted. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves

208

5767df55-25b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Legal Documents

Missing 4506-T

4506-T signed at loan application for the Co-Borrower's S Corporation was not provided.

12/7/2016:  Condition waived based on business transcripts in the file. Executed 4506-T deemed as non- material, loan will be graded a B .Loan approved based on following: File contained 2 yrs personal & signed business tax returns, personal & business tax transcripts as well as applicable  P&L's and Balance Sheets. Co-Borrower is S/E and file contains appropriate pre-consummation employment and income documentation. Client approved guideline exception for 4506-T.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves

208

080f4a4c-d3a9-4c3f-99a2-1a742f372a77

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Revised LE provision timing requirement to consummation not met

The re-disclosed LE reflects a Date Issued of XX/XX/XXXX.  Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to the consummation date.

12/16/16: Lender provided the e tracking summary, showing evidence of receipt of the LE within 7 days of consummation. Condition cleared. 12/08/16: Lender provided the COC for the LE issued XX/XX/XXXX. Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to the consummation date. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves

208

f2c7bfb7-c1f6-4133-b87d-d83291e0b123

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Evidence of borrower's receipt of initial CD 3 days prior to consummation was not provided. The initial CD is dated within 3 days of the consummation date, however it was not signed and there is no evidence of an E-Tracking Summary or E-Consent Disclosure prior to.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.

12/08/16: Lender provided the e tracking summary, showing evidence of receipt of the initial CD within 3 days of consummation. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves

208

9a20c2ab-06b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file.  The Credit Report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves

208

6f12f317-be85-4c6a-9127-17f413a7574e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Waiver by borrower of Revised LE timing requirement not provided or properly documented

There is no evidence of a waiver by borrower of revised LE timing requirement.  The re-disclosed LE reflects a Date Issued of XX/XX/XXXX.  Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to the consummation date.

12/16/16: Lender provided the e tracking summary, showing evidence of receipt of the LE within 7 days of consummation. Condition cleared. 12/08/16: Lender provided the COC for the LE issued XX/XX/XXXX. Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to the consummation date. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves

208

c9cc47a7-d105-427c-a00b-a2dbe7c10a34

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.  Please note that a letter of explanation to the borrower must also be issued.

12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves

208

e02cef0f-1048-4a81-86ba-6bf0b362a624

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,066.46 a month vs. the calculated value of $1,151.71 a month. The lender used a monthly amount of $75.00 for hazard insurance versus the actual amount of $160.25 per month.

12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves

208

a6d01fdb-06b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

A

RA

A

A

TRID

Closing Disclosure document error

The hazard insurance premium in section F of the final Closing Disclosure is missing the name of the payee and the property taxes in section F of the final Closing Disclosure are missing the government entity.  Additionally, the Additional Commission Fee, Home Warranty Fee (Optional), Real Estate Commission Buyers Broker, Real Estate Commission Sellers Broker and Zone Disclosure Fees reflected in section H of the final Closing Disclosure do not reflect the name of the payee.  Please note that a letter of explanation to the borrower must also be issued.

12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves

208

ce5c62f3-27b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Provide an executed copy of the Intent to Proceed disclosure for the borrower.

12/08/16: Lender provided the borrower's documented intent to proceed. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves

208

4d396301-28b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing seller’s Closing Disclosure

Seller's CD was not provided in the file.

12/08/16: As directed by counsel, the attached CD does reflect the seller’s costs and the seller acknowledged receipt.  All seller CD requirements are met. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.52%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 27.10 months reserves

204

6b53fab0-d2bb-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing 1008 or Underwriter Approval

Missing 1008 loan transmittal

12/15/16: Lender provided the 1008. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves

204

3782f7bf-d2bb-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

12/15/16: Lender provided the third party fraud report. No outstanding issues noted. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves

204

fdfad5e9-b8bc-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Changed Circumstance form

The change in circumstance in the file shows an increase in the appraisal fee due to a "rush". It is potentially valid, depending on why/who requested.  If the borrower requested the rush, it would be valid under 1026.19(e)(3)(iv)(C). Please provide the request from the borrower. Additional conditions may apply.

12/15/16: Lender provided an LOE from the borrower stating that they requested a rush on the appraisal.  COC is valid under 1026.19(e)(3)(iv)(C). Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves

204

a1337423-b294-4a78-a7c6-ee6683ee90c1

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Revised LE provision timing requirement to consummation not met

The re-disclosed LE reflects a Date issued of XX/XX/XXXX.  Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to consummation.  The loan files does contain a tracking disclosure however; it does not reflect the name of document sent for the specific date.

12/15/16: Lender provided evidence of receipt of the re-disclosed LE within 4-7 specific business days prior to consummation. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves

204

bb0fb4c5-3f2b-45f6-9be1-ef05aeb74b43

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Missing evidence of borrower receipt of initial Closing Disclosure 3 business days prior to consummation.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.  The loan file contains a tracking disclosure however; it does not reflect the name of the document sent to the borrowers.

12/15/16: Lender provided evidence of receipt of the initial CD within 3 business days prior to consummation. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves

204

cb82cd6e-1efa-4476-972a-ab6172420ccc

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Waiver by borrower of Revised LE timing requirement not provided or properly documented

No waiver in file signed by the borrower waiving the revised Loan Estimate timing requirement.

12/15/16: Lender provided evidence of receipt of the re-disclosed LE within 4-7 specific business days prior to consummation. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves

204

7f5fd6c6-ba4d-42fc-825a-e7672914837f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing.  Please provide a LOE to the borrower and confirmation of delivery.

12/15/16: Lender provided the corrected CD and LOE to the borrower. Condition cleared. Loan will be graded a B. 12/06/2016:  A Post Close CD in the loan file reflects the license number however; there is no LOE to the borrower and confirmation of deliver.  Condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves

204

10936e6f-b8bc-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Lender Credits on Final Closing Disclosure at closing is inaccurate in relation to previous Initial disclosure(s)

The final CD reflects a lender credit in the amount of $38.97. The lender credit decreased to $0.00 on the Post Close CD with no indication of a valid COC to account for the $38.97 decrease in the credit. Please provide the corrected CD within 60 days, and LOE to the borrower.

12/19/2016:  Audit has reviewed and determined that there was a tolerance cure in the amount of $38.97 appearing on the CD from Closing, however there was no tolerance cure violation, therefore no cure appearing on the final CD from funding, no further documentation required, condition cleared.  12/15/16: The decrease in the lender credit was from the final CD to the post close CD. The COC provided corresponds to the LE dated XX/XX/XXXX. Please provide the corrected CD within 60 days, and LOE to the borrower. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves

204

5345deba-d4bb-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $643.60 a month versus the calculated value of $748 a month. The lender used the incorrect amount of $124.63 for the  hazard insurance versus the actual amount of $228.63

12/06/2016: CD Estimated Taxes, Insurance & Assessments section is a non-material grade B for difference of $228.63. Loan will be rated a 'B' for all agencies. Post-close CD provided correcting Escrow amount.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves

204

8267fe6e-ecbb-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Property Taxes in section F is missing the government entity.  Please provide a LOE to the borrower and confirmation of delivery.

12/15/16: Lender provided the corrected CD and LOE to the borrower. Condition cleared, loan will be graded a B. 12/06/2016:  a Post Close CD in the loan file added the government entity however; no LOE or confirmation of delivery. Condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves

204

8a41457f-f30d-4b13-87d3-8844071eb335

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. The loan file contains a E Consent however; it is dated the same date of the Note and documents were E Consented as of XX/XX/XXXX per the tracking disclosure.  Please provide E Consent disclosure prior to the Note date for the borrowers.

12/15/16: Lender provided evidence of the borrower’s consent to receive documents electronically prior to XX/XX/XXXX. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #31 months excess reserves

228

0f02a1b2-6cdf-4727-82c0-2d21e9cb1714

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

A

A

RA

A

A

TRID

General Compliance Exception

The Property Taxes in section F is missing the government entity.   Please provide a LOE to the borrower along with confirmation of delivery.

12/09/16: Lender provided the corrected CD within 60 days of consummation, LOE to the borrower. Condition cleared.12/06/2016:  A Post Close CD in the loan file reflects the government entity however no LOE was in the loan file.  Condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.29%; FICO is higher than guideline minimum  UW Guides require FICO of 700, loan qualified with FICO of 799; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 21.7 months reserves

228

6a0fe8b8-5f1a-4828-ad54-eb0b648c195b

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing.  Please provide a LOE to the borrower along with confirmation of delivery.

12/09/16: Lender provided the corrected CD within 60 days of consummation, LOE to the borrower. Condition cleared.12/06/2016:  A Post Close CD in the loan file reflects the license number however; no LOE.  Condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.29%; FICO is higher than guideline minimum  UW Guides require FICO of 700, loan qualified with FICO of 799; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 21.7 months reserves

228

c5a33778-cebb-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

12/09/16: Lender provided the third party fraud report. No outstanding issues noted. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.29%; FICO is higher than guideline minimum  UW Guides require FICO of 700, loan qualified with FICO of 799; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 21.7 months reserves

194

c08ea682-27b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply.

12/08/16: Lender provided the third party fraud report. Variance for property value. Obtain a desktop appraisal review to verify property and appraisal accuracy. CDA provided. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.60%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.80%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808

194

e12d66a4-0423-4333-9596-a20ee4dc1aeb

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Missing evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.

12/0816: Lender provided evidence of receipt of Initial Closing Disclosure within 3 days of consummation. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.60%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.80%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808

194

5e004cd7-25b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a credit report in the file.  The credit report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B.  Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.60%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.80%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808

194

7db3a737-e5c3-4497-af6b-9d4c972a1f8b

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.  Please note that a letter of explanation to the borrower must also be issued.

12/08/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.60%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.80%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808

194

dd464120-1eb7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The property taxes in section F of the final Closing Disclosure are missing the government entity and the Appraisal fee in section B is missing the service provider.  Please note that a letter of explanation to the borrower must also be issued.

12/08/16; I'm not sure why this was rejected? See highlight

12/14/2016:  Post close CD provided reflecting the number of months collected and the government entity along with the notification of error, loan will be graded a B.  12/12/16: The corrected CD provided shows the government entity, however, the number of months collected on the same line is left blank. 12/08/16: Lender provided a copy of the corrected CD and LOE to the borrower. However the government entity is listed but missing the number of months. Condition maintained.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.60%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.80%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808

194

b293d087-46b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically.  The E Consent in the loan file is dated after the initial LE.  Provide E Consent disclosure for the borrowers prior to the initial LE.

12/08/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.60%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.80%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808

194

ef47480c-9f1b-4cbf-b2b1-f7c79405cef7

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Missing the borrower's Acknowledgement of Intent to Proceed.  The loan file contains a document for the borrower's Intent to Proceed however; it was not acknowledged by the borrowers.

12/08/16: Lender provided the borrower's documented intent to proceed. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 54.60%; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.80%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 808

229

8cc2d2e3-47c0-e611-86eb-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

A

A

RA

A

A

TRID

General Compliance Exception

The Property Tax and Homeowners Insurance of the final Closing Disclosure are missing the name of the service provider and government entity.

12/16/16: Lender provided the corrected CD, and LOE to the borrower. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 752; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24.5 months reserves; Years on Job  Borrower has 6 years on job per WVOE

229

96172212-a5c0-e611-86eb-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent Disclosure for the borrowers prior to the signing of the initial document. The E Consent in the loan file is dated after all documents were signed.

12/16/16: Lender provided evidence of the borrower’s consent to receive documents electronically for the initial documents. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 752; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24.5 months reserves; Years on Job  Borrower has 6 years on job per WVOE

229

c812bf88-45c0-e611-86eb-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

B

B

CB

B

B

Legal Documents

Missing Documentation

Missing evidence the first 2 debts from the Liabilities section of the final 1003 were paid in full.  Please provide proof these debts were paid in full prior to the closing of the subject loan.  Additional conditions may apply.

12/20/2016:  Lender provided a post close CD reflecting both installment debts paid at closing in section K along with a copy of the notification of error, loan will be graded a B.  Post close CD provided verifying the installment loans were paid at closing along with LOE to borrower for revision of CD. File contained all pre-consummation income and employment documents required to satisfy Appendix Q.  12/16/16: Lender provided post consummation CD showing debts paid in section H Other. They need to be reflected in Section K. Please provided a corrected CD and LOE to the borrower. Condition maintained.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 752; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24.5 months reserves; Years on Job  Borrower has 6 years on job per WVOE

229

a05409ff-a2c0-e611-86eb-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

12/16/16: Lender provided a copy of the third party fraud report. No outstanding issues noted. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 752; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 24.5 months reserves; Years on Job  Borrower has 6 years on job per WVOE

114

644a788b-36a5-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Insurance

Missing hazard insurance declaration

The hazard insurance policy in the loan file is not in effect until XX/XX/XXXX which is after the Note date.

11/07/216:  Exception granted for properties located in CA when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.

114

09dac3d3-5250-4414-adf5-9e3b89c461b8

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent disclosure the borrower.

11/11/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.

28

acaf2f6b-bbd1-44c1-8a13-27e9a4dfb0fa

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B - The Title – Escrow Fee Sales Tax, Title – Lender’s Policy Sales Tax, Title – Lender’s Title Insurance and Title – Settlement Fee are reflected in section B of the final Closing Disclosure. The borrower shopped for their own title service provider and did not use the provider on the WLSP. The title service fees should be listed in section C of the CD.

11/21/16: Lender provided the corrected CD, and LOE to the borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 35.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 7643; Reserves are higher than guideline minimum UW Guides require 12 months Subject reserves, loan qualified with 564 excess reserves

28

21e9bb23-28a2-4d67-97ca-7b57f2bb628c

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent  disclosure for the (borrower / co-borrower).

11/17/2016:  E Consent provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 35.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 7643; Reserves are higher than guideline minimum UW Guides require 12 months Subject reserves, loan qualified with 564 excess reserves

28

57a86579-4aa8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing 4506-T

Missing initial 4506-T; Lender guidelines require an initial signed 4506-T at application and signed final 4506-T at closing

11/17/2016: The initial and final executed and dated 4506-T provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 35.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 7643; Reserves are higher than guideline minimum UW Guides require 12 months Subject reserves, loan qualified with 564 excess reserves

93

c1cad7a4-0e8f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Insurance

Missing hazard insurance declaration

The effective date of the hazard insurance of XX/XX/XXXX is after the closing date.

10/08/2016:  Exception granted for properties located in the subject property state when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.63%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763 ; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 38 months.

93

5d8ada31-7ae0-447b-b82c-05062948f040

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Title – Lender’s Title Insurance and Title – Settlement Fee are reflected in section B of the final Closing Disclosure. The borrower shopped for their own title service provider and did not use the provider on the WLSP. The title service provider fees should be listed in section C of the CD.

10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.63%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763 ; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 38 months.

93

f83d004a-e19f-40af-8dc7-4b0e77e2dcce

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclose for the borrowers.

10/18/16: Lender provided the E consent disclosure for both borrowers. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 40.63%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763 ; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 38 months.

38

8360e35e-828f-4cd1-b450-c26224dcce06

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The final Closing Disclosure reflects charges for Title-Reconveyance in Section B. The borrower selected their own service provider. Those fees should be reflected in section C.

11/7/2016:  Post close CD provided reflecting the removal of the Title-Re conveyance fee in section B along with the notification of error to the borrower. Loan will be graded a B.  (Note to file: the cash-back to the borrower reporting on the CD matches the cash-back on the final ALTA statement.)

38

7bed4015-5d16-4bfd-92b8-c0b9711ddf6e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent  disclosure for the (borrower / co-borrower).

11/7/2016:  E-Consent for both borrowers provided, condition cleared.

37

4660b16d-6a86-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

General Credit Exception

Missing terms of withdrawal for 401(k) plan. Term of withdrawal in file is for an IRA not the 401(k).

12/5/16:  Per new information received regarding the withdraw terms, the employers 401K permits to take a hardship withdraw.  Per the 7/2/16 401K statement balance = $XXX,XXX.XX minus loan $XX,XXX.XX = $XX,XXX.XX @ 60% = XX,XXX.XX in reserves, which is sufficient, condition cleared. 11/14/2016:  Received withdrawal terms from the 3rd party account holder, not the employer, need evidence that the employer allows for hard ship withdraws, condition remains.  10/31/2016:  Per withdraw terms provided, borrower can only take out a loan for up to $50,000, borrower currently has a loan balance of $XX,XXX.XX, therefore only leaves $X,XXX.XX available.  File is short 9 months reserves $XX,XXX.XX + sufficient funds to cover the monthly revolving account in the amount of $X,XXX.  File must verify a total of $XX,XXX.XX in reserves.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; FICO is higher than guideline minimum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; Years on Job Borrower has 18.2 years on job

37

08f72bf9-ae85-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing PITI documentation for investment property listed on Schedule E of 2015 tax return or evidence the property was sold. Additional conditions may apply.

10/31/2016:  Copy of final certified settlement statement provided as evidence the property in question was sold, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; FICO is higher than guideline minimum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; Years on Job Borrower has 18.2 years on job

37

e57f089f-ae85-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing asset documentation

Missing 2 consecutive monthly statements for 401K. Only XX/XX/XXXX statement is in file.

10/31/2016:   2 consecutive monthly statements for 401K provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; FICO is higher than guideline minimum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; Years on Job Borrower has 18.2 years on job

37

b807aed5-ae85-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Income/Employment

Missing verbal verification of employment

Missing verbal verification of employment dated within 10 days of the note. VVOE in file is dated after the note.

11/14/2016: Audit has reviewed and determined that the VVOE is dated after the note date, however prior to funding, loan will be graded a B. File contains written verification of employment dated 43 days prior to note date as well as recent paystub dated 28 days prior to note date, 2 yrs tax returns, 3 yrs W-2's and tax transcripts. Documents in file pre-consummation satisfy Appendix Q. VVOE was completed after note date but before funding. Client approved guideline exception for VVOE being after Note date. 10/31/2016:  VVOE provided, however is dated after the Note date, per Investor Guidelines, the Verbal Verification of Employment (VVOE) or employment re-verification must be performed within 10 business days prior to the Note date for a salaried applicant, condition remains.  10/07/16: Lender provided the VVOE, however, it is not for our borrower. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; FICO is higher than guideline minimum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; Years on Job Borrower has 18.2 years on job

37

bbd064e2-af85-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Terms/Guidelines

Missing LOE

LOE for credit inquiries is not signed by the borrower.

10/31/2016:  Audit has reviewed and determined that the only credit inquires were from the lender, therefore a LOE was not required, condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; FICO is higher than guideline minimum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; Years on Job Borrower has 18.2 years on job

37

c6addac6-50dd-48cb-8fff-22c2080980fd

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

B

RA

A

A

TILA

Incorrect rescission model – Same lender refinance requires form H-9

Incorrect rescission model. Same lender refinance requires form H-9.

10/31/2016:  Lender provided a H-9 form, notification of error, and proof of delivery.  The new H-9 right to cancel form expired at midnight on XX/XX/XXXX, therefore condition cleared.  Loan will be graded a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; FICO is higher than guideline minimum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; Years on Job Borrower has 18.2 years on job

37

a1ebfd27-3cf1-44a4-be51-315ce67847f9

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

Missing HUD Homeownership Counseling Disclosure provided within 3 days of application.

10/31/2016:   HUD Homeownership Counseling Disclosure provided and is dated within 3 days of application, condition cleared.  10/07/16: Lender provided the HUD Homeownership Counseling Disclosure however, it is not for our borrower. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; FICO is higher than guideline minimum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; Years on Job Borrower has 18.2 years on job

37

5f328ed7-b677-4ba1-b7d9-8c24d61db983

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes, Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

A

B

RA

A

A

TRID

APR on Final Closing Disclosure is inaccurate in relation to previous Initial disclosure(s) – no evidence of further re-disclosure in file (APR < 0.125 variance –  Over disclosed)

Missing evidence of APR re-disclosure. The final Closing Disclosure reflects an APR of 3.923%. The prior Loan Estimate dated XX/XX/XXXX reflects an APR of 4.110%, which is a difference of -0.187% and exceeds allowable tolerance of 0.125%

09/29/2016: APR and Finance charges are considered accurate when they are overstated (§1026.38(o)(2).  Loan will be graded a B. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; FICO is higher than guideline minimum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.745%; Years on Job Borrower has 18.2 years on job

29

54990903-be81-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing executed letter that Home Equity Line of Credit is frozen and closed.

10/4/2016:  Signed Home Equity Line of Credit Closure letter provide, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 720; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 29.90 months reserves

29

1245a692-9e81-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Balance Sheet

Missing 2016 Balance Sheet for Borrower's Schedule C sole proprietorship and partnership.  Per appendix Q, both a Balance Sheet and a P&L statement are required in order for the loan to be classified as a Qualified Mortgage.

With regard to the conditions calling for P&L and Balance Sheet, please see the attached letter from the file explaining the business has been dormant for the past 2 years with no business related activity expected.  Please use this letter to clear

11/17/2016:  Satisfactory LOE provided along with the YTD 2016 P&L and Balance Sheet for borrowers Schedule C income, condition cleared.  11/3/2016:  Please clarify why a 2016 Balance Sheet was provided for the borrowers LLC that was supposed to have been dissolved on XX/XX/XXXX? Also still pending is a YTD 2016 P&L and Balance Sheet for the Borrowers Schedule C business.   10/4/2016:  Audit has reviewed and determined that the LLC was dissolved on XX/XX/XXXX per page 384 and LOE provided, therefore a P&L and Balance Sheet is not required for the LLC, however a YTD 2016 P&L and Balance Sheet is required for the Borrowers Schedule C business.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 720; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 29.90 months reserves

29

040092c1-9f81-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing YTD Profit & Loss

Missing 2016 YTD Profit & Loss Statement for Borrower's Schedule C sole proprietorship and partnership.  Per appendix Q, both a Balance Sheet and a P&L statement are required in order for the loan to be classified as a Qualified Mortgage.

With regard to the conditions calling for P&L and Balance Sheet, please see the attached letter from the file explaining the business has been dormant for the past 2 years with no business related activity expected.  Please use this letter to clear

11/17/2016:  Satisfactory LOE provided along with the YTD 2016 P&L and Balance Sheet for borrowers Schedule C income, condition cleared. 11/3/2016:   2014,2015 and 2016 YTD P&L for the borrowers LLC was provided, which was already included in the original loan file, still pending is a YTD 2016 P&L and Balance Sheet for the Borrowers Schedule C business.  10/4/2016:  Audit has reviewed and determined that the LLC was dissolved on XX/XX/XXXX per page 384 and LOE provided, therefore a P&L and Balance Sheet is not required for the LLC, however a YTD 2016 P&L and Balance Sheet is required for the Borrowers Schedule C business.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 720; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 29.90 months reserves

29

d1910038-bf81-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure once CD Issued

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for.

The service provider list in file is an old RESPA service provider list and does not list the individual "services" associated with each provider. It is not the service provider list that is under form H-27 in the rule. The WLSP is itself a violation and it is confusing to consumers because it has text that relates to the GFE.

09/26/2016:  Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 720; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 29.90 months reserves

29

b6c76112-b34a-4c72-a525-92ca8250f832

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Appraisal Review Fee in section B of the final Closing Disclosure reflects the service provider as "Other."

10/4/2016:  Post close CD from disbursement provided along with a copy of the notification of error to the borrower.  This CD reflects the payee for appraisal review in section B, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 720; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 29.90 months reserves

29

870a9975-8a3c-4f40-a959-5e886bbcc339

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated 08/23/2016 reflects no Title – Holdback Fee or Title – Mobile Notary with no resulting CoC for any subsequent disclosures.  The final CD reflects a Title – Holdback Fee of $60.00. and a Title – Mobile Notary Fee of $175.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $235.00 is required.

10/4/2016:  Post close CD from disbursement provided along with a copy of the notification of error to the borrower.  This CD reflects the payee for appraisal review in section B, contact info for the settlement agent completed, and this CD reflects no charge of the notary fee, therefore the $139.50 tolerance cure is sufficient, loan will be graded a B for Fitch and A for others.  09/26/2016:  The final closing disclosure reflects a post close tolerance cure of $139.50, which is insufficient.  Refund of $95.50 to borrower is required.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 720; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 29.90 months reserves

29

69838e07-a779-4318-8ac4-ebca90e05d3f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Lender Refund to Cure insufficient to cover overages in C.D. Services Borrower DID NOT SHOP Fee - Section B (Undisclosed and Under Disclosed)

The LE dated 08/23/2016 reflects no Title – Holdback Fee or Title – Mobile Notary with no resulting CoC for any subsequent disclosures.  The final CD reflects a Title – Holdback Fee of $60.00. and a Title – Mobile Notary Fee of $175.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $235.00 is required.

10/4/2016:  Post close CD from disbursement provided along with a copy of the notification of error to the borrower.  This CD reflects the payee for appraisal review in section B, contact info for the settlement agent completed, and this CD reflects no charge of the notary fee, therefore the $139.50 tolerance cure is sufficient, loan will be graded a B for Fitch and A for others.  09/26/2016:  The final closing disclosure reflects a post close tolerance cure of $139.50, which is insufficient.  Refund of $95.50 to borrower is required.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 720; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 29.90 months reserves

29

a5c5e499-ceff-49a6-89fc-48e280b0bcfd

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number and/or State License number of the Settlement Agent is missing.

10/4/2016:  Post close CD from disbursement provided along with a copy of the notification of error to the borrower.  This CD reflects the contact info for the settlement agent completed, condition cleared

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 720; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 29.90 months reserves

85

de0cb6ed-6d31-47bc-a5a0-573fcf985ece

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

RA

A

A

Federal Consumer Protection

ECOA Non-Compliant: Appraisal disclosure not provided within 3 days of application.

The appraisal in file is dated XX/XX/XXXX with a recertification dated XX/XX/XXXX which are both dated prior to the initial LE and were not provided within 3 days of the initial LE.  Additional conditions may apply.

10/19/2016:  the initial disclosures XX/XX were provided within 3 days of the initial 1003 XX/XX/XXXX.

10/20/2016:  Audit has reviewed and determined that the initial disclosures were provided within 3 days of the initial application date, therefore the condition has been rescinded, however please see additional condition added.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

85

e3040dde-5791-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure once CD Issued

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for.

The service provider list in file is an old RESPA service provider list and does not list the individual "services" associated with each provider. It is not the service provider list that is under form H-27 in the rule. The WLSP is itself a violation and it is confusing to consumers because it has text that relates to the GFE.

10/13/2016:  Services provided on WLSP were not itemized. Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

85

86516deb-2477-4503-96db-ecdb0d7757a3

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Title - Notary fee are reflected in section B of the final Closing Disclosure.  The borrower shopped for their own title service provider and did not use the provider on the WLSP.  The title service provider should be listed in section C of the CD.

10/24/2016:  Post close CD provided moving the notary fee from section B to section C along with a copy of the notification of error, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

85

fa7204ac-f1f8-485b-8186-741d557b3d25

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Re-Inspection fee of $125 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal Re-Inspection fee of $175 resulting in a $50 refund due for cure.

10/11/2016:  The final CD reflects the $50 Appraisal Re-Inspection Charge cure.  Condition cleared.  The loan will be rated a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

85

3ec6e443-b136-419a-ab01-a1363a1ecd9a

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

Condition added 10/24/2016:  The CD dated XX/XX/XXXX reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $XXX.

10/24/2016:  Over-disclosure of TOP is non-material, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

85

3fac6f9e-fdcc-4bf8-9b6b-d848f969ba18

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Total Interest Percentage (TIP) is not accurate.

Condition added 10/24/2016:  The CD dated XX/XX/XXXX reflects Total Interest Percentage (TIP) of 77.090% vs actual TIP of 77.040% with a difference of 0.050% over-disclosed.  Maximum permitted .001%.

11/01/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

85

0e40b104-77cc-4312-b13b-df15d83b04f2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License ID of the Settlement Agent is missing.

10/24/2016:  Post close CD provided showing the contact information completed for the settlement agent along with a copy of the notification of error, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

85

48ee6a3e-2119-41bb-be59-a62f0027744e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

B

RA

A

A

TILA

Funding occurred before RTC Expiration Date

The rescission period is through midnight of XX/XX/XXXX and the final Closing Disclosure reflects a disbursement date of XX/XX/XXXX.

10/13/2016:  A Post Close certified HUD-1 from the lender is in the loan file to reflect the disbursement date of XX/XX/XXXX.  Condition cleared.  The loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

85

0a5c18e7-5c91-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

A

RA

A

A

TRID

Closing Disclosure document error

The final Closing Disclosure reflects a disbursement date of XX/XX/XXXX and a Certified HUD-1 in the loan file reflects a disbursement of XX/XX/XXXX.  Please provide a corrected Post Close CD with the correct disbursement date and cash to close.

10/24/2016:  Received post close CD along with the lenders copy of their internal screen shot showing the loan did not disburse until XX/XX/XXXX, along with a copy of the notification of error and proof of delivery, condition cleared, however please see additional condition added for cash back to borrower exceeds the $2000 permitted.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

85

4e8b77f5-159a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

B

B

CB

B

B

Terms/Guidelines

Cash out amount greater than guideline maximum

Condition added 10/24/2016:  Borrowers received greater than $2000 back at closing by $XXX.    They brought $XXX to closing but received $XXXX back, maximum permitted $2000.

11/30/16: Copy of $XXX check from borrower back to escrow for the overage in cash back, pay history to reflect the principal reduction & updated final settlement statement to show cash back within limits.

12/12/16: Lender provided a corrected CD, LOE and evidence of mailing to the borrower. Exception granted by lender for > 60 days. Loan will be graded a B. Borrower received funds>$2000 at closing. The borrower returned money and it was applied as principal reduction. Cash out guidelines are lender guidelines. Client approved. Loan was graded a B due to guideline variance. 12/9/2016:  Lender provided a copy of a check for $XXX from the borrower made payable to the Title Company for the overage in cash back that they received at closing.  The Lender also provided their pay history to reflect the principal reduction of $XXX & updated final settlement statement as evidence the subject transaction was kept as a rate/term refinance.  Please provide updated CD reflecting the principal reduction along with a copy of the notification of error, once received, loan will be graded a B.  12/01/16: Lender provided the copy of the $XXX check from borrower back to escrow for the overage in cash back, pay history to reflect the principal reduction & updated final settlement statement. Investor will not permit a principal reduction, therefore they will not purchase the loan.  Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

85

b64acafb-5891-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXX.  Prelim in file does not reflect the correct amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.

10/24/2016:  Received copy of the title commitment verifying the lenders coverage equal to the loan amount, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

85

18c8b3f4-f696-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing LOE

Condition added 10/20/2016: Please provide satisfactory explanation as to why the appraisal dated XX/XX/XXXX and the re-certification of value dated XX/XX/XXXX were preformed prior to the application date of XX/XX/XXXX.

10/24/2016:  Received satisfactory letter of explanation from the lender explaining what the appraisal was ordered prior to the application date.  (borrower applied for a refinance in XXXXl of XXXX, however withdrew the application, then decided to proceed)

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.64%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 718; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 14.70 months reserves

177

1298d5a5-7cab-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing verbal verification of employment

Verbal verification of employment dated XX/XX/XXXX is expired. Per lender guideline's the VVOE must be dated 10 business days prior to the note date.

11/21/16: VVOE provided has information current as of XX/XX/XXXX. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 19.582%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 72.33  months reserves

177

319dcb94-05ff-481d-8615-a4404bf04c8b

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The HOA Certificate Fee is reflected in section B of the final Closing Disclosure. The HOA Certificate Fee should be listed in section H of the CD.

11/15/2016: Lender removed the HOA Certificate Fee on the post close CD. Loan will be rated a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 19.582%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 72.33  months reserves

177

c0c6c9f1-784c-405b-8938-361c24060c92

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $1495.00 with no resulting CoC for any subsequent disclosures. The Final CD dated reflects an Appraisal Fee of $1650.00 resulting in a $155.00 refund due for cure.

11/15/2016: Lender provided a $155.00 Lender Credit on the Final CD. Loan will be rated a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 19.582%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 72.33  months reserves

177

a089480f-c892-43d1-b5be-ffbae86155fa

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure  Contact Information section is incomplete.  The License Number of the Settlement Agent is missing.

11/23/2016 Lender provided re-disclosed CD, LOX and evidence of method of delivery. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 19.582%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 72.33  months reserves

177

eac3344b-7dab-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

On Final CD, Section F, Property Taxes is missing the government entity.

11/23/2016 Lender provided re-disclosed CD, LOX and evidence of method of delivery. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 19.582%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 72.33  months reserves

176

ec2dc210-fb9a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Cleared

A

A

VA

A

A

Value

570 - Review Appraisal Missing

A CDA report was not provided.

11/1/16: CDA reflecting a value of $XXX,XXX which is a -0.0% variance. Condition Cleared.

176

eb06387d-5211-44ef-9b1e-4da06eaccdfd

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Title - Tax Holdback Fee is reflected in section B of the final Closing Disclosure.  The borrower shopped for their own title service provider and did not use the provider on the WLSP.  The title service fee should be listed in section C of the CD.

10/10/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.

176

b98e88af-7212-4a44-a31b-f7c59fd209f5

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $525.00 and HOA Certificate Fee of $150.00 with no resulting CoC for any subsequent disclosures. The final CD reflects an Appraisal Fee of $2,200.00 resulting in a $1,675.00 refund due for cure and the Post Closing CD reflects an HOA Certificate Fee of $165.00 resulting in a $15.00 refund due for cure.  Lender credit of $1,707.80 for increase in Closing Costs above legal limit is sufficient tolerance cure.

10/25/2016: Post Closing CD provided in the file shows a sufficient tolerance cure in the amount of $1,707.80. Loan will be graded a B for all agencies. Condition cleared.

176

b1da11fb-8c0c-455a-b935-413233cf0389

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number of the Borrowers Real Estate Broker, Sellers Real Estate Broker and Settlement Agent is missing.

10/10/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.

176

01c4b537-fc9a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The HOA Certificate Fee in Section B of the final Closing Disclosure is missing the payee.

10/25/2016: Corrected post close CD in file reflects missing payee. Loan will be graded a B for all agencies. Condition cleared.

115

66f9dbf3-c4c4-46c6-b1dc-3616a16f5400

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Appraisal Review fee in section B of the final Closing Disclosure is missing the name of the service provider.  Additionally, the Title Fees are reflected in section B of the final Closing Disclosure.  The borrower shopped for their own Title Fees and did not use the provider on the WLSP.  The Title Fees should be listed in section C of the CD.  Please note that a letter of explanation to the borrower must also be issued.

10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 705; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.26 months reserves; Years on Job Borrower has 8 years on job

115

347cf6c4-8a6a-486a-a6da-247de74463b4

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $625.00 and a Credit Report Fee of $40.00 with no resulting CoC for any subsequent disclosures. The Final CD dated reflects an Appraisal Fee of $825.00 and a Credit Report Fee of $43.00 resulting in a $205.00 refund due for cure.

Final CD shows a sufficient tolerance cure in the amount of $205.00. Loan will be graded a B for Fitch and A for others.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 705; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.26 months reserves; Years on Job Borrower has 8 years on job

115

39c48a3b-c823-477b-b3c7-5cc4043e5f71

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The Address of the Borrower’s Real Estate Broker and Seller’s Real Estate Broker and the NMLS License Number Settlement Agent is missing.

10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 705; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.26 months reserves; Years on Job Borrower has 8 years on job

115

c23ea440-5591-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

A

RA

A

A

TRID

Closing Disclosure document error

The HOA Transfer Fee and Notary Fee in section H of the final Closing Disclosure does not reflect the name of the payee.  Please note that a letter of explanation to the borrower must also be issued.

10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 705; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.26 months reserves; Years on Job Borrower has 8 years on job

115

5b8716af-ae90-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Permanent Resident Alien Card

Missing Permanent Resident Alien Card. Additional conditions may apply.

10/18/16: Lender provided the borrowers permanent resident alien card. No outstanding issues noted. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 705; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.26 months reserves; Years on Job Borrower has 8 years on job

115

7e0987f6-ae90-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Purchase Contract

Missing purchase contract. Additional conditions may apply.

10/18/16: Lender provided the complete signed purchase contract for the subject property. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 705; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.26 months reserves; Years on Job Borrower has 8 years on job

115

d27a45cb-ae90-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

B

B

CB

B

B

Terms/Guidelines

Missing LOE

Letter of Explanation for late payments is not signed/dated by the borrower.

10/24/2016:  LOE signed post close, loan will be rated a B. Late payment in question is 30 day on XXXX over 1 yr ago and showing current at time of credit report.. Credit report showed mortgage history 0x30 for 65 months which was given more weight than a 30 day revolving charge account > 1 yr ago. No late payments on any credit since that date. . All income and employment documents including VVOE, WVOE, recent paystubs, 2 yrs 1040's and 2 years W-2's were in file pre-close. Satisfactory letter of explanation was provided but was provided post close.  Loan was graded a B due to guideline variance.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 705; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.26 months reserves; Years on Job Borrower has 8 years on job

115

326df941-5391-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Failure to Provide Critical Documentation

Credit supplement or letter from creditor reflecting that the liabilities listed #3, #4 & #5 on page 2 of the final loan application were closed.  Additional conditions may apply.

10/18/16: Lender provided the credit supplement reflecting that the liabilities listed #3, #4 & #5 on page 2 of the final loan application were closed. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 705; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 19.26 months reserves; Years on Job Borrower has 8 years on job

74

11fb42ad-cc0d-4f51-a7e4-7a154066491c

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure once CD Issued

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for.

Missing "valid" WLSP.  The WLSP in file refers to the GFE which is for Pre-TRID use.

10/6/2016: WLSP referencing a GFE is non-material. Loan will be graded a B for all agencies.

DTI is lower than guideline maximum DTI is 27% GL allow 38%; Reserves are higher than guideline minimum 59 verified months reserves; Years on Job 6 years in same feild

74

9fb1e339-1732-4c73-b991-ae284a275f9d

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete. The NMLS ID or License ID of the Buyers Real Estate Broker, NMLS ID or CA License ID of the Sellers Real Estate Broker and License ID of the Settlement Agent are missing.

10/6/2016:  Post close CD provided updating the settlement agent ID number along with the notification of error, condition cleared.

DTI is lower than guideline maximum DTI is 27% GL allow 38%; Reserves are higher than guideline minimum 59 verified months reserves; Years on Job 6 years in same feild

150

3fedb0a7-1595-489c-bb5e-548ee476dec6

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Special Information Booklet / Home Loan Toolkit

Missing Home Loan Toolkit and evidence of issuance within 3 days of application.

10/27/2016:  Documentation provided verifying that the Home Loan Toolkit was provided within 3 days of application, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 22.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 33.40 months reserves

150

86fdff3a-7295-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing 4506-T

Missing initial signed 4506T; Investor guidelines required a signed 4506T at application and final at closing.

10/27/2016:  Initial signed 4506-T provided for both borrowers, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 22.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 33.40 months reserves

150

ce7825cb-6195-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Assessor's Parcel Number is not consistent between Appraisal, Title, and/or Mortgage.

Assessor's parcel number is not consistent between Appraisal and Mortgage.

10/27/2016:  Audit has reviewed and determined that the number appearing on the appraisal is the parcel number and the number appearing on the mortgage is the account number, this can be verified on Certificate of Taxes due on page 458, both numbers are acceptable, no further documentation required, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 22.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 775; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 33.40 months reserves

210

6552be92-d4c6-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing asset documentation

File is missing the terms of withdrawal for the borrower's 403(b)/401(a)plan. Additional conditions may apply.

12/22/2016:  Withdrawal terms provided, maximum withdrawal permitted is a $50K loan, reserves have been adjusted to reflect this.  (Hardship only permitted on Qualified Rollover Accounts, in which according to the statement in file, the borrower does not have a rollover account)  Sufficient reserves still verified, condition cleared.

DTI is lower than guideline maximum 24.61% compared to 43%; FICO is higher than guideline minimum 772 compared to 700; Years in Field 12 years

210

a5be64a2-dbc6-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

General Compliance Exception

The final CD, in section H under Title-Owner’s Title Insurance, is missing the word Optional.  Since it is a premium related to the issuance of the owners title insurance it should also have the parenthetical description “(optional)” at the end of the cost label.

12/22/2016:  Post close CD provided reflecting optional for the owners title insurance in Section H, along with a copy of the notification of error.  Loan will be graded a B.

DTI is lower than guideline maximum 24.61% compared to 43%; FICO is higher than guideline minimum 772 compared to 700; Years in Field 12 years

210

a4d06d1d-dcc6-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

General Compliance Exception 2

The subject loan was funded in a dry funding state.  Final settlement statement in file indicates a cash required to close of $XX,XXX vs the final CD which reflects a cash to close of $XX,XXX with a discrepancy of $XXX.XX.

12/21/2016:  The final SASS shows $XX,XXX to close, And -0- cash back, We are not finding the SASS showing $XX,XXX but maybe we are missing it.

12/22/2016:  Audit has reviewed and determined that the final CD located on page 6, states borrower is to bring $XX,XXX to closing in which this amount coincides with the final ALTA statement located on page 21, therefore this condition is not valid and has been rescinded.

DTI is lower than guideline maximum 24.61% compared to 43%; FICO is higher than guideline minimum 772 compared to 700; Years in Field 12 years

210

45d6bc06-e0c6-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Changed Circumstance form

Loan amount increased from $XXX,XXX on XX/XX/XXXX to  $XXX,XXX on XX/XX/XXXX. COC in file does not disclose this information.

12/22/2016:  Changed of Circumstance form provided reflecting the increase in loan amount, condition cleared.

DTI is lower than guideline maximum 24.61% compared to 43%; FICO is higher than guideline minimum 772 compared to 700; Years in Field 12 years

195

424296d1-fca8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Changed Circumstance form

Missing corresponding COC for LE dated XX/XX/XXXX as the loan amount has increased from $XXX,XXX to XXX,XXX. Appraisal fee increased from $500.00 to $650.00.  The file is missing evidence of a valid change of circumstance.

11/22/2016 Valid COC provided, documenting reason for increase in loan amount and appraisal fee. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 22.371%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 46.82  months reserves

195

66e5f289-24ea-46f6-852b-b0fd7fb577e0

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

2

2

A

A

RA

A

A

TRID

Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C

The Origination Charges in Section A are subject to 0% variance.  LE dated XX/XX/XXXX does not reflect a Investor Review Fee with no resulting COC for any subsequent disclosures.  Final CD reflects an Investor Review Fee of $250.00 for a variance/refund required of $250.00.

11/17/2016:  Copy of the Change of Circumstance dated XX/XX/XXXX adding the $250 Investor Review Fee provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 22.371%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 46.82  months reserves

195

99a509f8-34a8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.)

11/22/2016 Preliminary title reflecting coverage of $XXX,XXXX provided. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 22.371%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 798; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 46.82  months reserves

31

4e231f67-5a69-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing income documentation

The Business license in the loan file reflects the Co-Borrower's business is inactive however; a letter from the CPA reflects the Co-Borrower's business is active.  Provide proof that the Co-Borrower's business license was active as of the note date.

10/12/2016:  Received 1003 removing co-borrowers income along with a LOE from the lender verifying the co-borrowers business could not be verified in a timely manner, therefore they removed the income which was not needed to qualify, condition cleared.  10/5/2016:  Received DU Findings removing co-borrowers income, however please provide updated 1003 removing the co-borrowers income along with a letter of explanation as to why the income was removed.  09/28/16: Documents provided do not address this condition. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.986%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 745; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  164.04 months reserves

31

7373dd1f-5c69-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing HUD-1 From Sale of Previous Property

Missing CD from sale of exiting property and proof of receipt of funds. Additional conditions may apply.

8/31/2016:  Fully executed settlement statement dated XX/XX/XXXX provided netting $XXX,XXX.XX, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.986%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 745; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  164.04 months reserves

31

60e040b0-5a69-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing LOE

LOE for homeowners association dues does not list the property address.  Please provide an address the HOA letter belongs to.

9/7/2016:  Received letter from borrower explaining the HOA fees were for their departing party which sold, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.986%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 745; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  164.04 months reserves

31

ab8f064e-7269-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing 4506-T

Missing the initial and final 4506-T for the Borrower, initial 4506-T for the Co-Borrower and initial 4506-T for the Co-Borrower's business.

09/22/16: Received the initial and final 4506-T for the borrower and the initial 4506-T for the co-borrower. Condition cleared. 8/31/2016: Received initial 4506-T for the co-borrowers business, still pending the initial and final 4506-T for the borrower and the initial 4506-T for the co-borrower.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.986%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 745; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  164.04 months reserves

31

533d9416-a244-4bb2-b67b-d544bb8afaae

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

Added 09/06/2016:  The HUD Homeownership Organization Counseling Disclosure and the list of agencies are required. Missing the list of agencies.

9/7/2016:  The HUD Homeownership Organization Counseling Disclosure and the list of agencies provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.986%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 745; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  164.04 months reserves

31

2b92a926-5b25-4cf4-962d-b248b5cfa276

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number/License Number of the Sellers Real Estate broker is missing.

9/7/2016:  Received post close CD reflecting the License Number for the Sellers Real Estate Broker along with the notification or error, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.986%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 745; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  164.04 months reserves

186

4d8cdd6a-e633-4ebb-81dd-51c5cc457ca7

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal Consumer Protection

Missing HUD Homeownership Organization Counseling Disclosure

The loan file is missing a copy of the HUD Homeownership Organization Counseling Disclosure and list of options.  There is a tracking disclosure in the file this was sent to the borrower however; the actual document is missing.  Please provide the disclosure and list of companies.

12/01/16: Lender provided the HUD Homeownership Organization Counseling list of agencies dated within 3 days of the application date. Condition cleared.

186

0186e9b4-1e74-4b12-929f-d42c20ed5824

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Flood Cert Fee and credit report fee was not reflected in section B of the Closing Disclosure despite evidence of a flood cert and credit report in the file.  The Flood Cert Fee and credit report fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

11/30/16: Expenses for credit reports and flood certifications are paid on bulk invoices, and are not allocated to individual loans.

12/7/20106 Upon further investigation it has been determined that the attestation provided is sufficient to clear the finding. Even though there is an invoice in the file, this is not necessarily what was charged for the specific transaction.  12/6/2016: Escalated to compliance for review, will advise as soon as possible.  12/01/2016  Please verify Lender is under a contract with the vendor to provide credit reports/flood certs at a set rate per month and the rate is not dependent upon the number of credit reports/flood certs that are requested and provided, or a corrected CD within 60 days of consummation and LOE to the borrower. Condition maintained.

186

09330257-d541-438c-8601-edc907f05a38

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The GA License ID for the Borrowers and Sellers Real Estate Brokers are missing.  Please provide a letter of explanation to the borrower and confirmation of delivery.

12/09/16: Lender provided the corrected CD within 60 days of consummation and LOE to the borrower addressing realtor contact details. Condition cleared.12/06/2016:  The notification of error that was provided does not explain this correction made, please provide updated notification of error explaining the license number for the buyers and sellers real estate brokers were added.  12/01/16: Lender provided the corrected CD, however missing the LOE to the borrower. Condition maintained.

165

d0e4e92a-639c-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Illegible Documentation

Letter of explanation page 107 is illegible. Additional conditions may apply.

12/15/2016:  Legible copy of the LOE provided, condition cleared.  12/09/16: Letter provided addresses the borrower's current residence and intention to sell. The illegible LOE on page 107 is signed, and appears to address deposits. Condition maintained.  12/01/16: Lender provided the LOE, regarding the address, however it is not signed. The illegible LOE on page 107 is signed, and appears to address deposits. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves

165

bedc0751-5b9c-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing final application (1003)

Final application (1003) is missing 2nd page of schedule of Liabilities.

11/11/16: Lender provided the complete final application (1003) including the continuation sheet showing the schedule of liabilities. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves

165

49edc5d1-639c-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Purchase Contract

Purchase contract includes furniture from the screened in porch.

10/28/2016:  Per purchase contract, the property is at no additional cost to the buyers, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves

165

76983a64-639c-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Evidence of Taxes and Insurance

Missing evidence of taxes and insurance on borrower's departing residence. Additional conditions may apply.

12/01/16: Lender provided the signed Settlement Statement dated XX/XX/XXXX showing sale of property. Condition cleared. 11/23/2016 Lender provided Settlement Statement dated XX/XX/XXXX showing sale of property, however the statement was not signed by the Borrowers nor certified by the settlement agent. Please provide a certified copy of the Settlement Statement. Condition remains.  11/11/16: Lender provided the 1st page of the home mortgage statement and schedule of REO. In order to property calculate the tax and insurance please provide the tax bill and H/O declaration. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves

165

166503aa-639c-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing 4506-T

Missing borrower's Initial 4506-T, signed/dated per lenders guidelines.

11/23/2016 Lender provided initial signed 4506T for Borrower. Condition cleared. 11/11/16: Lender provided the signed 4506 T for the co borrower. Please provide the initial 4506T, signed and dated for the borrower. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves

165

7b12884d-639c-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Balance Sheet

File is missing a balance sheet for the co-borrower's schedule C business. Per appendix Q, both a Balance Sheet and a P&L statement is required; in order for the loan to be classified as a Qualified Mortgage.

11/23/2016 Lender provided Balance sheet. Condition cleared. 11/11/16: Lender provided an LOE regarding the business and a YTD P&L. In order to be in compliance with appendix Q, both a Balance Sheet and a P&L statement is required; in order for the loan to be classified as a Qualified Mortgage.  Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves

165

d36ddd99-5b9c-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Income Tax Schedules

Missing 2014 Schedule C income tax schedule.

11/11/16: Lender provided the Schedule C for 2014. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves

165

d9e98a15-72b6-4143-b7de-c3a791de4d30

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

HUD Homeownership Counseling Disclosure not provided within 3 days of application.

11/11/16: Lender provided the HUD Homeownership Counseling List dated within 3 days of the application. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves

165

76790fc9-c104-44e1-bde1-6cbaac0b5e41

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Missing evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation. When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.

11/11/16: Lender provided the initial CD signed within 3 days of consummation. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves

165

73603685-ec87-42b6-90d9-2689df8cc15a

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

Incorrect disclosure of Services Borrower DID NOT SHOP Fee-Section B. The CD in file is missing the following fees: Credit Report, Flood Determination. Settlement fees must all be disclosed to the consumer regardless of who pays them.

11/30/16: Explanation of pricing. Both the $30.00 files are the new trended pricing which is $2.00 and $28.00 to refresh the CBR totaling $30.00.

12/09/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B. 12/8/2016: It has been determined that since a post close CD was already issued to the borrower listing the credit report and flood cert fee in section A as paid to a third party vendor, and we have received an attestation verifying these fees are absorbed by the lender, please provide one of the following 1) credit report fee and flood cert fee moved to Section B and disclosed as paid by lender, or b.) credit report fee and flood cert fee removed from section A due to fees are absorbed by Lender per attestation as these fees are paid on bulk invoices and are not allocated to individual loans.  Please provide updated CD along with a notification of error.  12/7/20106 Upon further investigation it has been determined that the attestation provided is sufficient to clear the finding. Even though there is an invoice in the file, this is not necessarily what was charged for the specific transaction. Condition cleared. 12/6/2016:  Escalated to compliance for review.  Will advise as soon as possible.  12/01/16: Please provide a corrected CD showing the Credit Report Fee, Flood Certification and settlement fees, within 60 days of consummation and LOE to the borrower. Condition maintained. 11/23/2016 Lender attested they absorb the expense of credit reports as well as flood certifications on all transactions unless otherwise disclosed on the Loan Estimate and closing disclosure. Regardless if Lender absorbs costs, they have to be disclosed if attributed to transaction. Condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves

165

a07e2bc6-9c51-4ed1-a8e6-f6e1982a799f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower paid fee or provided credit card or check (except for the credit report) prior to acknowledgement of intent to proceed.

The file contains a copy of Charge Card Authorization to pay for the Appraisal Fee dated XX/XX/XXXX which is prior to the borrowers acknowledgement of Intent to Proceed dated XX/XX/XXXX . The lender is prohibited from collecting any fee or arranging payment terms for anything other than a credit report prior to the borrower indicates an Intent to Proceed.

11/30/2016:  Lender provided a satisfactory letter of explanation verifying the payment of the appraisal fee was for a different loan number.  Per the LOE, the borrowers applied for a loan in September, gave the intent to proceed on XX/XX/XXXX, therefore the appraisal fee was charged to the borrowers on XX/XX/XXXX, however the borrowers cancelled this application and ended up re-applying on XX/XX/XXXX. See email on page 316, verifying payment information was for a different loan number along with trailing docs showing the prior intent to proceed was dated XX/XX/XXXX and the invoice from appraiser dated XX/XX/XXXX.  The same appraisal was used for this transaction and coincides with the date reflected on the appraisers invoice and the time frame on the sales contract (sales contract dated XX/XX/XXXX).  Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 31.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 783; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 178.33 months reserves

104

ab69273a-cca6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy

11/21/16: Lender provided the title commitment reflecting the correct loan amount. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.61%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 771; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #161 months excess reserves

104

66ea2d7c-da18-4d73-ba63-ead192728cad

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

A HUD Home-ownership Organization Counseling Disclosure was not provided.

11/21/16: Lender provided the HUD Home-ownership Organization Counseling Disclosure dated within 3 days of the application date. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.61%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 771; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #161 months excess reserves

71

9be4fc91-be5b-44fc-8f45-593cba90f100

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

The loan file is missing a copy of the HUD Homeownership Counseling Disclosure.

11/23/2016 Lender provided. Condition cleared.

71

39ae20dc-cc79-48ce-b4f9-9b3415c70e26

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C

The Origination Charges in Section A are subject to 0% variance.  Le reflects an Discount Fee of $2,015 with no resulting COC for any subsequent disclosures.  Final CD reflects a Discount Fee of $2,325 for a refund required of $310.

11/21/2016:  The Final CD reflects a RESPA Discount Fee charge cure.  Condition cleared.  The loan will be rated a B for all agencies.

71

f5a5b142-e3ac-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report Fee was not reflected in section B of the Closing Disclosure despite evidence of a Credit report in the file.  The Credit report Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

Expenses for credit reports and flood certifications are paid on bulk invoices, and are not allocated to individual loans.

12/09/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B.12/8/2016:  It has been determined that since a post close CD was already issued to the borrower listing the credit report and flood cert fee in section A as paid to a third party vendor, and we have received an attestation verifying these fees are absorbed by the lender, please provide one of the following 1) credit report fee and flood cert fee moved to Section B and disclosed as paid by lender, or b.) credit report fee and flood cert fee removed from section A due to fees are absorbed by Lender per attestation as these fees are paid on bulk invoices and are not allocated to individual loans.  Please provide updated CD along with a notification of error.  12/6/2016:  Escalated to compliance for review, will advise as soon as possible.   12/01/16: Please provide either the contract with the vendor, or a corrected CD within 60 days of consummation and LOE to the borrower. Condition maintained. 11/23/2016  Please verify Lender is under a contract with the vendor to provide credit reports/flood certs at a set rate per month and the rate is not dependent upon the number of credit reports/flood certs that are requested and provided. Note: the credit report in file reflects a Price of $30.00.  Condition remains.

71

79b0533d-252f-4f6c-9e28-403a8524cb2e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent disclosure for the borrowers.  The loan file contains a tracking disclosure however; it does not specifically reflect when the borrowers signed the E Consent disclosure.

12/08/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared. 12/01/16: Lender provided E consent agreement for Co-borrower dated 08/26/2016, however missing econsent for Borrower. Condition remains.11/29/2016 Lender provided Econsent agreement for Co-borrower dated 08/26/2016, however missing econsent for Borrower. Condition remains.

72

dd03cb4d-cf2b-4122-863e-ec290aba8682

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

HUD Homeownership Counseling Disclosure not provided in file.

10/18/16: Lender provided the HUD Homeownership Counseling Disclosure provided within 3 days of the application date. Condition cleared.

57

713f9fe0-015d-46d0-80fe-ce521b5e2751

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

The HUD Homeownership Organization Counseling Disclosure and the list of agencies are required. Missing the list of agencies.

10/18/16: Lender provided the list of 10 HUD Homeowership Organization Counseling agencies for the borrower's geographical area. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 31.05%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #80.87 months excess reserves

57

83dfc91c-9b71-443f-bd95-49a9ec8277df

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Transfer tax Fees on C.D. exceeds corresponding LE fees (0% Tolerance) - not supported by C.O.C.

Missing corresponding COC for Final CD as the Transfer Fee has increased from $1055 to $1057.  The file is missing evidence of a valid change of circumstance. This is a zero Tolerance fee.

09/29/2016:  The final CD reflected a $2 transfer tax charge cure.  Condition cleared.  The loan will be rated a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 31.05%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #80.87 months excess reserves

57

07ae9a79-b685-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing evidence of filed 2015 Tax Return extension request for borrower's business (A)

10/18/16: Lender provided the Form 7004 Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns for the fiscal year 2015. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 31.05%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #80.87 months excess reserves

57

294eca37-b685-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing 4506-T

Missing the borrower's final executed 4506-T, the initial 4506-T for business A, C, and D and the final 4506-T for business B, C and D.  The  Lender guidelines require initial signed 4506T at application and final 4506T at closing.

10/18/16: Lender provided the borrower's final executed 4506-T, the initial 4506-T for business A, C, and D and the final 4506-T for business B, C and D. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 31.05%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #80.87 months excess reserves

57

63075770-b885-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Income/Employment

Missing Income Tax Schedules

Missing 2014 Schedule E Tax Return Schedule; 2013 return reflects REO sold in 2015.

10/18/16: Upon further review, Schedule E and LOE from the CPA in the file. Condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 31.05%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require #12 months Subject reserves, loan qualified with #80.87 months excess reserves

58

454e2327-028f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Lender did not provide a QM status determination supporting Pass status for QM Safe Harbor qualification.

10/14/16: Lender provided the QM status determination. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 59.94% ; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.04%; Reserves are higher than guideline minimum UW Guides require 6 months reserves, loan qualified with 22.80 months reserves

58

2f55e1bd-018f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the correct amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.)

10/26/2016:  Copy of title commitment provided reflecting lenders coverage equal to the loan amount, condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 59.94% ; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.04%; Reserves are higher than guideline minimum UW Guides require 6 months reserves, loan qualified with 22.80 months reserves

58

6c348ab8-038f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Income/Employment

Missing Business Tax Returns

Missing 2014 & 2015 Business Tax Returns for business #7 of the Schedule E, Statement 1.  Additionally, missing 2015 Business Tax Returns for borrower's partnership.

10/20/2016:  Audit has reviewed and determined that these two businesses in question are one in the same company.  They did a name change per the K-1's located on page 528 and 542, (please note: they both have the same tax ID numbers), therefore the 2014 and 2015 returns are not required for Business #7 as this is the same company as the company and the tax returns for the company were provided for 2013 and 2014 along with the 2015 extension.   A YTD P&L and Balance Sheet were also provided for 2015 and YTD 2016.  Condition has been rescinded.  (please note: 2015 business return for borrowers business is on extension per page 512, therefore an executed return is also not required).

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 59.94% ; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.04%; Reserves are higher than guideline minimum UW Guides require 6 months reserves, loan qualified with 22.80 months reserves

58

0e060d0e-028f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Payoff Statement

Payoff letter was not provided in the loan file.

11/02/16: Lender provided the letter from the bank showing the loan has been paid in full. Condition cleared. 10/14/16: Lender provided the credit supplement. Please provide the payoff letter from lender showing per diem. Condition maintained.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 59.94% ; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.04%; Reserves are higher than guideline minimum UW Guides require 6 months reserves, loan qualified with 22.80 months reserves

58

4f50e472-028f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Executed Personal Tax Returns

Executed 2013 & 2014 Personal Tax Returns were not provided in the loan file.

11/01/16: Lender provided the signed pages of the borrower's 2013 and 2014 personal tax returns. Condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 59.94% ; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.04%; Reserves are higher than guideline minimum UW Guides require 6 months reserves, loan qualified with 22.80 months reserves

58

2134ae98-028f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Executed Business Returns

Executed 2014 & 2015 Executed Business Returns were not provided for businesses #6, 7 & 9 of the 2014 Schedule E, Statement 1.  Additionally, Executed 2015 Business Return for borrower's business was not provided.

11/11/16: Lender provided the signature pages for(#9) on Schedule E, Statement 1 on page 568 of file. Condition cleared.11/01/16: Lender provided the signature pages for the business #6, however, for business # 9, the signature pages were not provided. Condition maintained. 10/20/2016:  please note 2015 business return for borrowers environmental business is on extension per page 512, therefore an executed return is not required.  Still pending executed 2014 & 2015 Executed Business Returns for businesses #6 & #9 of the 2014 Schedule E, Statement 1.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 59.94% ; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.04%; Reserves are higher than guideline minimum UW Guides require 6 months reserves, loan qualified with 22.80 months reserves

58

426a3fa4-058f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Balance Sheet

Missing Balance Sheet for the borrower's Schedule C sole proprietorship and partnership listed for business #7 of the Schedule E, Statement 1.  Per appendix Q, both a Balance Sheet and a P&L statement ARE required; in order for the loan to be classified as a Qualified Mortgage.

11/02/16: Lender provided the revised Balance Sheet showing the date XX/XX/XXXX6 for the borrower's schedule C business, and an LOE from the borrower, confirming the correction of the dates. The 2015 was a typographical error, and when completing the Balance Sheet, was thinking of month/quarter end, however, the figures are valid through XX/XX/XXXX. Condition cleared.10/27/2016:  Per compliance review, the P&L and Balance Sheet are dated post close, therefore we cannot accept as this does not meet QM requirements.  In order to be QM compliant, the lender would have had to of had these in their possession prior to closing.  10/26/2016:  Escalated to compliance for review, will advise as soon as possible. 10/20/2016:  Audit and reviewed and determined that Business #7 as this is the same company as the company and the tax returns for the company were provided for 2013 and 2014 along with the 2015 extension.   A YTD P&L and Balance Sheet were also provided for 2015 and YTD 2016 therefore a P&L and Bal is not required for Business #7, however still pending a YTD P&L and Bal Sheet for borrowers Schedule C sole proprietorship.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 59.94% ; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.04%; Reserves are higher than guideline minimum UW Guides require 6 months reserves, loan qualified with 22.80 months reserves

58

33eebc94-058f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing YTD Profit & Loss

Missing YTD Profit & Loss statements for the borrower's Schedule C sole proprietorship and partnership listed for business #7 of the Schedule E, Statement 1.  Per appendix Q, both a Balance Sheet and a P&L statement ARE required; in order for the loan to be classified as a Qualified Mortgage.

11/02/16: Lender provided the revised P&L showing the period XX/XX/XXXX to XX/XX/XXXX for the borrower's schedule C business, and an LOE from the borrower, confirming the correction of the dates. The 2015 was a typographical error, and when completing the YTD, was thinking of month/quarter end, however, the figures are valid through XX/XX/XXXX. Condition cleared.  10/27/2016:  Per compliance review, the P&L and Balance Sheet are dated post close, therefore we cannot accept as this does not meet QM requirements.  In order to be QM compliant, the lender would have had to of had these in their possession prior to closing.   10/26/2016:  Escalated to compliance for review, will advise as soon as possible. 10/20/2016:  Audit and reviewed and determined that Business #7 as this is the same company as the  company and the tax returns for the company were provided for 2013 and 2014 along with the 2015 extension.   A YTD P&L and Balance Sheet were also provided for 2015 and YTD 2016 therefore a P&L and Bal is not required for Business #7, however still pending a YTD P&L and Bal Sheet for borrowers Schedule C sole proprietorship.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 59.94% ; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.04%; Reserves are higher than guideline minimum UW Guides require 6 months reserves, loan qualified with 22.80 months reserves

58

7d39f523-058f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Income/Employment

Missing K-1

Missing Schedule K-1 for business #7 of the Schedule E, Statement 1.  Additionally, missing 2015 Schedule K-1 for the borrower's partnership.

10/20/2016:  Audit has reviewed and determined that these two businesses in question are one in the same company.  They did a name change per the K-1's located on page 528 and 542, (please note: they both have the same tax ID numbers), therefore the 2014 and 2015 K-1's are not required for Business #7 as this is the same company as the company and the tax returns and K-1's for the company were provided for 2013 and 2014 along with the 2015 extension.   A YTD P&L and Balance Sheet were also provided for 2015 and YTD 2016.  Condition has been rescinded.  (please note: 2015 business return for borrowers business is on extension per page 512, therefore a K-1 is also not required).

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 59.94% ; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.04%; Reserves are higher than guideline minimum UW Guides require 6 months reserves, loan qualified with 22.80 months reserves

58

85cd8f91-efaa-4c35-a871-61e9af8b205f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

B

RA

A

A

TILA

Missing Right To Cancel Form

Right To Cancel Form provided in the loan file does not reflect the transaction date or the expiration date.

11/3/2016:  Audit has reviewed and determined that rescission was re-opened to the borrower on XX/XX/XXXX and expired at midnight on XX/XX/XXXX, giving the borrower the required 3 days.  Loan will be graded a B for Fitch and A for others.  11/02/16: Lender provided the corrected ROR showing the transaction date and the expiration date both initialed by the borrower. However funding occurred before RTC expiration date. Condition maintained.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 80%, loan qualified with CLTV of 59.94% ; DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.04%; Reserves are higher than guideline minimum UW Guides require 6 months reserves, loan qualified with 22.80 months reserves

40

233d7a14-1476-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

General Compliance

Missing Documentation

Lender did not provide an ATR/QM status determination.

9/20/2016:  Lender provided Worksheet supporting status determination as yes for eligible for Safe Harbor and QM, condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 65%, loan qualified with CLTV of 45.23%; DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.87%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 121.30 months reserves

40

c2f2cee1-4a47-4095-a9c4-527d8de6ee17

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclose for the borrower.

9/20/2016:  Copy of eConsent provided, condition cleared.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 65%, loan qualified with CLTV of 45.23%; DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.87%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 121.30 months reserves

40

10ec883c-dd75-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Legal Documents

Missing 4506-T

Missing an executed 4506-T for business A and C on the 2014 Schedule E.

12/1/2016:  Condition waived based on executed 4506-T's were provided post close, loan will be graded a B. Loan approved based on following: File contained 2 yrs personal & signed business tax returns, as well as applicable  P&L's and Balance Sheets. Borrower is S/E and file contains appropriate pre-consummation employment and income documentation. Client approved guideline exception for 4506-T.  9/20/2016:  Received executed 4506-T for Business A and C that was signed post close (loan will be graded a B), however still pending 4506-T for Business A and C that was signed at application.   If requesting an exception, please send to lender mail box.

CLTV is lower than guideline maximum UW Guides maximum CLTV of 65%, loan qualified with CLTV of 45.23%; DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.87%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 121.30 months reserves

66

9198a665-b27a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing terms of withdrawal for borrower's retirement account. Document in file does not list the hardships that qualify for withdrawal.

10/29/2016:  Withdrawal terms for both borrowers retirement accounts provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.792%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 756; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.30 months reserves

66

b28ab742-b27a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing AUS results

Missing AUS results.

10/29/2016:  AUS results provided, reflecting approve/ineligible for loan amount exceeding the maximum allowable loan limit, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.792%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 756; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.30 months reserves

66

b1517bd5-b27a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing income documentation

Missing third party verification of verification with the address and phone number of the employer for the Borrower and Co-Borrower.

09/27/16: Third party verification provided. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.792%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 756; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.30 months reserves

66

ece7d976-b17a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing asset documentation

Missing complete quarterly statements for borrower and co-borrower's retirement accounts. Only first page is in file for both accounts.

10/31/16: The borrower's balance in his retirement, after considering the loan, is $28,498, plus his wife's retirement (vested) balance of $15,461 = $43,959 x 60% = $26,375. The required total reserves of nine months PITIA equals $24,979.23, so we have met the requirement. I have attached the statement showing the loan amount was already taken out when determining the borrower's total remaining balance at the bottom ofpage 1 where I have annotated it.

11/02/16: Lender provided the statement showing the balance of $28,498.11 @ 60% = 17,098.87. Contributions since joining/transfers in/Loan Payment: $29,730.10 less Loan ($17,698.23)+ Gains $16,466.24. $25,107.73, less subject reserves (9 x $2,775.49) $24,979.41 = $128.32 excess reserves. Condition cleared. 10/26/2016:  Complete quarterly statements provided, however upon audit review, it has been determined that the borrower has a 401K loan appearing on the complete statements that now needs to be deducted from the balance, causing the borrowers to be short reserves.   Required reserves to be verified is 9 months, borrowers now only have 4 months verified.   Assets verified $11,173.84 (401K $3164.98 + $9276.86 -(1268 month revolving account) = $11,173.84.  Condition remains for verification of 9 months reserves and source of funds.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.792%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 756; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.30 months reserves

66

1d47d3a0-b27a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing verbal verification of employment

Missing verbal verification of employment for Co-Borrower dated within 10 days of the Note date.  The VVOE in the loan file is dated XX/XX/XXXX which is after the Note date.

09/27/16: VVOE provided within 10 days of the note for the co borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.792%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 756; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.30 months reserves

66

615aeaa4-272e-43b0-b4d8-88ab291c3e04

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Missing evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation. When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.

09/19/16: Lender provided the signed initial CD. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.792%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 756; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.30 months reserves

66

1fd129e7-a934-4c91-aa09-3a324b63b3bf

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Title-Lender's Title Insurance is reflected in section B of the final Closing Disclosure. The borrower shopped for their own Title-Lender's Title Insurance and did not use the provider on the WLSP. All the Title-Lender's Title Insurance should be listed in section C of the CD.

09/27/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.792%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 756; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.30 months reserves

66

dd05a0dd-4ba7-4905-acfc-25865f9ca1f7

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent  disclosure for the borrower and co-borrower.

09/19/16: Lender provided evidence of e consent. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.792%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 756; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 9.30 months reserves

76

f2acc4d0-8a89-4d32-8e83-08cf02b5c86f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

TILA

Funding occurred before RTC Expiration Date

Final CD reflects funding occurred before rescission expiration date.  Borrowers were not provided a 3 day rescission period.  Please provide evidence of disbursement date.  Additional conditions may apply.

10/18/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.88%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 801; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17 months reserves

76

bd5f7bce-e98f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Executed letter reflecting Home Equity Line of Credit (HELOC) was closed and frozen not provided in the loan file.

11/21/16: Letter from the lender stating the HELOC was paid in full and closed was provided. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.88%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 801; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17 months reserves

76

bc540426-ea8f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply.

10/18/16: Lender provided the third party fraud report for the borrower and co borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.88%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 801; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17 months reserves

84

c7e220c0-29b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.)

12/30/16: Lender provided a copy of the final title policy reflecting the correct loan amount. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 743; No Mortgage Lates No Mortgage Lates in #99 months aggregate reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #60 months excess reserves

84

729b22bd-d0b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Payoff Statement

Missing evidence of current mortgage payoff statement for refinance.

12/12/16: Lender provided the current mortgage payoff statement. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 743; No Mortgage Lates No Mortgage Lates in #99 months aggregate reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #60 months excess reserves

84

caf1ddd4-2ab7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure once CD Issued

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for.

WLSP dated XX/XX/XXXX is missing the verbiage for the borrower to see Section C on page 2 of your Loan Estimate or the estimated dollar amount.

12/01/2016: Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 743; No Mortgage Lates No Mortgage Lates in #99 months aggregate reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #60 months excess reserves

84

5455a278-d9b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Flood Cert Fee was not reflected in section B of the Closing Disclosure despite evidence of a flood cert in the file.  The Flood Cert fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

12/15/2016 Attestation sent after the condition was sent. Condition status updated to cleared. 12/12/16: Lender provided an attestation that they absorb all costs associated with the credit report and the flood certificate. This attestation has been reviewed and approved by the compliance department. Condition rescinded.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 743; No Mortgage Lates No Mortgage Lates in #99 months aggregate reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #60 months excess reserves

84

5db8e6b9-5aa7-417e-88a6-941f2c0f68e8

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $560 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal fee of $695 however; the actual charges were an Appraisal fee in the amount of $620 and Appraisal Update fee in the amount of $175 resulting in a $235 refund due for cure.

12/30/16: Lender provided the corrected CD within 60 days of consummation, LOE to the borrower, refund of $100.00 and evidence of mailing. The refund of $100.00 is in addition to the $135.00 already provided with the final CD.  Loan will be graded a B for Fitch and A for others. Condition cleared.12/01/2016:  Final closing disclosure reflects a tolerance cure in the amount of $135 paid to the borrower from an Appraisal charge cure however; the refund should be $235.  Condition remains.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 743; No Mortgage Lates No Mortgage Lates in #99 months aggregate reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #60 months excess reserves

84

ee5dcc8c-2bb7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Missing Loan Estimate / LE Not in File

Missing loan estimate dated XX/XX/XXXX to correspond with the WLSP in file and the LE's dated XX/XX/XXXX and XX/XX/XXXX to correspond with the COC's in file for change in interest rate and lock extensions.  Acknowledged of these LE's from the borrower were in the file however; the LE's are missing.

12/29/16: This is a wholesale loan. The broker disclosed on XX/XX/XXXX. Lender sent disclosures on XX/XX/XXXX, but no LE. We are not required to send another LE until the loan is locked. Broker discloses the loan and is not locked and another LE is not required.

12/30/16: Upon further review, the lender is bound by the terms of the initial LE and is not required to re disclose if not locked, or unless there is a change in the APR of 0.125%, pre-paids, or the loan program. Condition cleared.  12/12/16: Lender provided the LE dated XX/XX/XXXX and XX/XX/XXXX however missing XX/XX/XXXX. Condition maintained.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 743; No Mortgage Lates No Mortgage Lates in #99 months aggregate reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #60 months excess reserves

84

3edd549a-dcb7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Property Taxes on line 05 in section F is missing the government entity.

12/30/16: Lender provided the corrected CD within 60 days of consummation, LOE to the borrower, and evidence of mailing. Condition cleared.  Loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 743; No Mortgage Lates No Mortgage Lates in #99 months aggregate reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #60 months excess reserves

84

b1dfdddc-2bb7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes Potentially

Yes

No Cure Once CD issued

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Loan Estimate document error

The LE is missing the lender's email and phone number under the section, Additional Information About This Loan.

12/1/2016:  This is a non-material issue.  The loan will be rated a B for all agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 743; No Mortgage Lates No Mortgage Lates in #99 months aggregate reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #60 months excess reserves

84

965739b5-6cb6-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Cleared

A

A

VA

A

A

Value

Appraisal not provided

The loan file is missing the appraisal.  The loan file contains an invoice in the file for the amount of $620.   Additional conditions may apply.

12/12/16: Lender provided a copy of the appraisal. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 743; No Mortgage Lates No Mortgage Lates in #99 months aggregate reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #60 months excess reserves

84

e30f42c5-28b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Cleared

A

A

VA

A

A

Property

Missing Appraisal Completion Cert

Missing Appraisal 1004D completion certification.  The loan file contains an invoice in the file for the amount of $175.  Additional conditions may apply.

12/12/16: Lender provided the Appraisal 1004D completion certification. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 743; No Mortgage Lates No Mortgage Lates in #99 months aggregate reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #60 months excess reserves

30

84bba576-b2c3-4543-9ccd-1b0a8d47ae45

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $550.00 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal Fee of $700.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $150.00 is required.

09/23/2016:  The final closing disclosure reflects a post close tolerance cure of $150.00, which is sufficient.  Loan will be rated a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.85%; No Mortgage Lates No Mortgage Lates in #99 months reviewed; Reserves are higher than guideline minimum No Mortgage Lates in # months reviewed

30

bbbb020a-cce8-4b54-9fd8-fc8fede9dbfe

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX.

10/4/2016:  Audit has reviewed and determined the over-disclosure for total payment is not material, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.85%; No Mortgage Lates No Mortgage Lates in #99 months reviewed; Reserves are higher than guideline minimum No Mortgage Lates in # months reviewed

30

858489f4-d980-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Legal Documents

Missing Lease agreement

Per Appendix Q, both IRS Form 1040 Schedule E and a current lease/rental agreement are necessary to verify all consumer rental income in order for the loan to be classified as a Qualified Mortgage.  Missing active lease agreement for property listed on Schedule of Real Estate Owned.  The lease agreement provided in the loan file expired XX/XX/XXXX and the box for month-to-month tenancy thereafter was not marked.

10/3/2016:  No rental income was used to qualify therefore Appendix Q does not apply.

10/4/2016:  Audit has reviewed and determined that no rental income was required to qualify.  Audit has added the REO payment back into the DTI and borrower still qualifies by not using any rental income, therefore a lease agreement is not required, condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.85%; No Mortgage Lates No Mortgage Lates in #99 months reviewed; Reserves are higher than guideline minimum No Mortgage Lates in # months reviewed

41

c624acb1-e3ad-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

General Credit Exception

Lender did not provide an ATR/QM status determination

12/15/2016:  ATR/QM status provided showing as a pass, condition cleared.  12/13/16: Document provided was the post close CD. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.59%; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 73.98%; No Mortgage Lates No Mortgage Lates in #38 months reviewed

41

04115cd5-e3ad-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

General Credit Exception 2

Please provide signed borrower letter providing authorization to close Home Equity Line of Credit on subject property.

12/13/16: Lender provided the payoff letter authorizing the bank to close the HELOC. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.59%; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 73.98%; No Mortgage Lates No Mortgage Lates in #38 months reviewed

41

50bf6a55-e4ad-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing business verification of employment from CPA for co-borrower schedule C income.

12/19/2016 Audit reviewed loan file and has noted that the loan file documentation satisfies QM requirements for self employed borrowers; i.e 2 years tax returns and YTD P&L and balance sheet. Income not used to qualify. CPA license sufficient to verify business. Condition cleared.   12/09/16: Lender provided a CPA license for the borrower, with an LOE that the co-borrower's schedule C business is conducted under the borrower's CPA license. Tax returns are self prepared.  Please provide an occupational license to operate out their home. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.59%; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 73.98%; No Mortgage Lates No Mortgage Lates in #38 months reviewed

41

4a925272-e3ad-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing 1008 or Underwriter Approval

Missing updated 1008; Income reported per 1008 does not match lender income calculation worksheet or AUS reported income; additional conditions may apply.

12/09/16: Lender provided the 1008 that corresponds to the income worksheet and AUS in the file. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.59%; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 73.98%; No Mortgage Lates No Mortgage Lates in #38 months reviewed

41

ef5855fd-e3ad-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Lease agreement

Missing current lease or rental agreement for the 2nd property listed on the Schedule of Real Estate Owned on the 1003. Per appendix Q, both IRS Form 1040 Schedule E; and a current lease or rental agreement is necessary to verify all consumer rental income; in order for the loan to be classified as a Qualified Mortgage.  A lease is in the loan file however; the termination date is XX/XX/XXXX. Please provide documentation the lease is still in effect and copies of receipt of rental income for the past 24 months.

12/28/2016:  Audit has reviewed and determined that the lease in the file expired XX/XX/XXXX and rolled to a month to month.   We have 2015 and 2014 tax returns showing income being claimed on the schedule E. Also included in the loan file was a copy of the current rent check from the tenant dated 7/28/2016 that was deposited into the borrowers account as evidence the same tenant listed on the lease is still occupying the property, no further documentation required, QM requirements met, condition cleared.  12/09/16: Lender provided copies that the lease automatically renews number 21. LOE month to month. Missing documentation the lease is still in effect and copies of receipt of rental income for the past 24 months. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.59%; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 73.98%; No Mortgage Lates No Mortgage Lates in #38 months reviewed

41

a100e100-41b0-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure once CD Issued

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for.

Missing "valid" WLSP.  The WLSP in the file does not refer to the language of allowing the borrower to review fees you can shop for in section C of the LE or list the Estimated amount on the document.

11/21/2016:  Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.59%; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 73.98%; No Mortgage Lates No Mortgage Lates in #38 months reviewed

41

024e4115-db11-4d98-8713-1a306604baf5

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1347.03 a month versus the calculated value of $1,023.28 a month. The lender used the incorrect amount for either the taxes, insurance or HOA however; it cannot be determined with the documentation in the loan file.

12/13/16: CD Estimated Taxes, Insurance & Assessments section is a non-material grade B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.59%; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 73.98%; No Mortgage Lates No Mortgage Lates in #38 months reviewed

41

f4219016-e5ad-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Closing Disclosure in  Section (B), Appraisal Report Fee, Credit Report Fee, HOA Cert Fee, Tax Cert Fee and SSA Verification Fee does not show the correct payee with all reported as paid to lender with the provider not reflected. The Closing Disclosure in  Section (B), Title-Mobile Notary Fee is reported as paid to a third party is inaccurate; The fee should reflect paid to Closing Agent XXX Third party.

12/15/2016:  Copy of the notification of error to the borrower and corrected CD provided, condition cleared, loan will be graded a B.  12/13/16: Lender provided the corrected CD, however, we are missing the LOE to the borrower. Per compliance, the post close corrective CD needs to correct the issue from the final CD and list the payee which this post close CD seems to have completed. We would not go back and re-audit the post close CD for anything else such as misspelled services if it is obvious what they were trying to spell. This would not require a second corrective post close CD. Condition maintained. 11/21/2016:  A Post Close CD in the loan file does not reflect any changes to the service provider in section B.  Condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.59%; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 73.98%; No Mortgage Lates No Mortgage Lates in #38 months reviewed

41

9426703b-613b-4193-80e2-90f0fd38ef71

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent disclosure for the borrower.

12/14/2016:  E-Consent provided for both borrowers, condition cleared.  12/09/16: E consent provided was for the co borrower which we have in the file. Missing the Borrower's Consent to Receive Communications Electronically. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.59%; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 73.98%; No Mortgage Lates No Mortgage Lates in #38 months reviewed

70

71b2880b-708a-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

General Credit Exception

Lender to confirm occupancy of subject property due to appraisal being marked "Tenant".  Appraiser will need to verify that the tenant has vacated the subject property.

10/13/2016:  The Appraiser confirmed that the unit is vacated by the former tenant, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 776; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 24 months; credit report verifies 33 months’ payment history with no late payments reported.; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 179.50 months reserves

70

05f24a06-6e8a-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing K-1

Missing 2015 & 2014 K-1 for self-employed business showing in section A of the Schedule E on the 1040’s. Provide a 2 year history per appendix Q,  K-1's are required; in order for the loan to be classified as a Qualified Mortgage. Additional conditions may apply.

10/11/16: Lender provided the 2014 K-1. 2015 Schedule E is 0.00 (Pg 547) for XXXXXXX. Stock Sale Pg 586 and 2014 schedule E  Pg 617. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 776; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 24 months; credit report verifies 33 months’ payment history with no late payments reported.; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 179.50 months reserves

70

2f520b25-a15a-42bd-885d-26d1c723c56d

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Special Information Booklet / Home Loan Toolkit

Missing Special Information Booklet / Home Loan Toolkit.

10/11/16: Lender provided evidence of delivery of the Special Information Booklet dated within 3 days of the application date. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 776; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 24 months; credit report verifies 33 months’ payment history with no late payments reported.; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 179.50 months reserves

70

c1036461-4972-4f97-bfef-49f8a6bc49b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal fee of $455 with no resulting CoC for any subsequent disclosures. The final CD reflects an Appraisal fee of $620 resulting in a $165 refund due for cure.

10/04/2016: Final CD discloses sufficient cost to cure of $283.13. Loan will be graded a B for Fitch and A for others.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 776; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 24 months; credit report verifies 33 months’ payment history with no late payments reported.; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 179.50 months reserves

70

c53b07b8-6d8a-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

A

RA

A

A

TRID

Closing Disclosure document error

Final Closing Disclosure section B Inspection fee is missing service provider payee name.

10/11/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 776; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 24 months; credit report verifies 33 months’ payment history with no late payments reported.; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 179.50 months reserves

70

e077fa5a-93bf-4e44-9364-346f5be69df2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Please provide copy of signed E-Sign consent form giving the lender permission to provide documents electronically.

10/11/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 776; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 24 months; credit report verifies 33 months’ payment history with no late payments reported.; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 179.50 months reserves

69

460c5391-24a8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing evidence of taxes and insurance for REO #4 listed on final 1003.

12/22/2016:  Lender provided copy of the condo's master insurance policy verifying the HO6 insurance is included, condition cleared.  12/12/16: Evidence of tax was provided. Missing homeowner's insurance. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.63%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17.20 months reserves

69

abe1bc5b-24a8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Balance Sheet

Missing current Balance Sheet Borrower’s Schedule C business. Per appendix Q, both a P&L & Balance Sheet are necessary for the loan to be classified as a Qualified Mortgage and the Balance Sheet is missing from the file.

12/15/2016:  Balance sheet provided. Statement reflects no liabilities that would effect the income used to qualify.  Also to clarify, the requirement was for a Balance Sheet for borrowers Schedule C, when it should have requested the Balance Sheet for borrowers S-Corp.   Borrowers do not file a Schedule C.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.63%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17.20 months reserves

69

a60fa735-d130-46c2-9027-01ee5d646e26

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

Closing Cord. Funding & Wire on final CD is $195.00. LE dated XX/XX/XXXX lists fee as $175.00. This fee is in a 0% tolerance section. Lender tolerance cure of $20.00 is required.  Section J reflects $20.00 tolerance cure.

11/11/2016: Final CD shows a sufficient tolerance cure in the amount of $20.00. Loan will be graded a B for Fitch and A for all others. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.63%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17.20 months reserves

69

a53ab051-119c-4518-a9b2-69d43aa33c15

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $878.32 a month vs. the calculated value of $947.07 a month. HOA of $75.00 not being escrowed. Difference of $6.25.

12/21/2016: Per compliance, The finding for “Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately” is material for items in escrow and non-material for items not in escrow. In this case it is for HOA which is not an escrowed item, therefore is non-material and loan will be graded a B.   12/16/2016:  escalated to compliance, will advise as soon as possible.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.63%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 17.20 months reserves

103

a3949285-8aa7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

General Compliance Exception

The subject loan was funded in a dry funding state.  Estimated Settlement Statement in file indicates a cash to close of $XXXX vs. the final CD which reflects a cash to close of $XXXX with a discrepancy of $174.34.  Please provide Final Settlement Statement and explanation of discrepancy.

11/23/2016 Lender provided LOX. Condition cleared. 11/21/16: Lender provided the corrected CD, however missing the LOE to the borrower. Condition maintained.

103

051b143d-e2db-47ac-a633-907edbfd2ada

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Incorrect disclosure of Origination Charges - Section A

The Underwriting Fees in section A of the final Closing Disclosure is missing the name of the payee.  Additionally, the “Underwriting Fees” paid to the lender reflected in section A of the final Closing Disclosure should be itemized.  Section A Fees:  1026.38(f)(1):  Under the subheading “Origination Charges,” and in the applicable columns as described in paragraph (f) of this section, an itemization of each amount paid for charges described in § 1026.37(f)(1), the amount of compensation paid by the creditor to a third-party loan originator along with the name of the loan originator ultimately receiving the payment, and the total of all such itemized amounts that are designated borrower-paid at or before closing.

11/10/2016:  This is a non-material finding.  Loan will be rated a B for all agencies. Documentation in file confirms Underwriting Fee was paid to Lender and fee amount on LE matches Fee amount on CD

103

4b82c6c9-6c73-42fa-9fda-7edaae72f943

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Flood Cert Fee was not reflected in section B of the Closing Disclosure despite evidence of a flood cert in the file.  The Flood Cert Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

11/29/2016 Lender attested they pay an annual fee to XXXXX for flood certs. Condition cleared.

103

e7ede782-1c22-4d23-9f37-5c3781cdd65a

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $575.00 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal Fee of $695.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $120.00 is required.

11/10/2016:  The final closing disclosure reflects a post close tolerance cure of $120.00, which is sufficient.  Loan will be rated a B for Fitch and A for others.

103

63f79ce4-2679-4e3c-a836-45ba8a607c25

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclose for the borrowers.

11/22/2016 Proof that both borrowers consented to receiving e-disclosures, provided.

148

6e827f3e-6cab-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Cleared

A

A

VA

A

A

Value

570 - Review Appraisal Missing

Missing appraisal field review; "CDA Indeterminate; Pending third party appraisal review to support value".

12/07/16: Lender provided the One-Unit Residential Appraisal Field Review Report. Condition cleared.  12/2/2016:  Upon further review by Audit, it has been determined that a CDA was provided instead of a Field Review and was inadvertently cleared.   However, Lender did provide a Field Review, but has an incorrect property address.   Please provide an updated Field Review with the correct property address listed.   11/23/2016 Lender provided. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; LTV is lower than guideline maximum UW Guides require 70% LTV, loan qualified with LTV of 56.56%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #39 months excess reserves

148

b10a2679-249f-48af-9503-e9a3e5bb5af1

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Special Information Booklet / Home Loan Toolkit

Missing Home Loan Toolkit and evidence of issuance within 3 days of application.

11/21/16: Lender provided evidence of receipt of the Home Loan Toolkit within 3 days of the application date. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; LTV is lower than guideline maximum UW Guides require 70% LTV, loan qualified with LTV of 56.56%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #39 months excess reserves

148

273afca4-bb66-4ed4-a31d-527b6a9182d5

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Flood Certificate Fee does not reflect in Section B of the final CD.

11/21/16: Lender provided an attestation that they do not charge a fee for Flood Certificate on their loans. This is a provided service and is not disclosed as a separate charge. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; LTV is lower than guideline maximum UW Guides require 70% LTV, loan qualified with LTV of 56.56%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #39 months excess reserves

148

708a69de-90db-4b9a-b935-b01a8408e586

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Naming Convention in Services Borrower DID NOT SHOP Fee - Section B in C.D. is not consistent

The final CD reflects Title – Loan Tie-in Fee and the LE dated 10/19/2016 reflects Title – Doc Prep Fee. The naming convention is not consistent.

11/29/2016 Lender attested Loan tie in fee was an escrow charge and is not same as fee on LE doc prep fee. Title-Doc prep fee on LE was not charged on CD. No tolerance issue. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; LTV is lower than guideline maximum UW Guides require 70% LTV, loan qualified with LTV of 56.56%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #39 months excess reserves

148

abc49882-47ec-411b-ba03-50f8045d3db4

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent disclosure for the borrower and co-borrowers.

11/21/16: Lender provided evidence of the borrowers' consent to receive documents electronically. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; LTV is lower than guideline maximum UW Guides require 70% LTV, loan qualified with LTV of 56.56%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #39 months excess reserves

148

17d4de22-c3b8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing LOE

Condition added 12/2/2016:  Lender to provide a satisfactory explanation as to why there are 2 separate appraisals dated within 2 weeks of each other, performed by the same appraiser. ie...was something updated on the 2nd appraisal etc... (1st appraisal is dated XX/XX/XXXX, and the 2nd is dated XX/XX/XXXX)

12/07/16: Lender provided an LOE from the Lead Appraisal Administrator. Appraiser revised the county, and in error, changed the dates. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 777; LTV is lower than guideline maximum UW Guides require 70% LTV, loan qualified with LTV of 56.56%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #39 months excess reserves

98

28d13e91-16ac-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Non-Material

Yes

Yes

Not Likely

yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Origination Charges - Section A

The “Discount points" in section A of the final Closing Disclosure are missing the name of the service provider.

12/9/2016:  Audit has reviewed and determined that the "discount points" located in section A, are paid to the Lender, therefore do not require a Service Provider to be listed, condition rescinded.

98

c61362c1-16ac-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Flood Cert Fee was not reflected in section B of the Closing Disclosure despite evidence of a flood cert in the file.  The Flood Cert Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

1/5/2017:  Lender provided an attestation verifying that they pay an annual fee to the Vendor and there is no specific charge allocated on the CD for this service, condition cleared.

98

47a1b8da-16ac-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $485.00 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal Fee of $620.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $135.00 is required.

11/17/2016:  A Post Close CD reflects a RESPA Appraisal charge cure in the amount of $135.  Condition cleared. The loan will be rated a B for all agencies.

98

180e0def-dbac-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

B

B

RB

B

B

TRID

DID SHOP Fee (Section C) & Recording Fee (Section E) exceeds 10% summary tolerance

The Recording fee was disclosed on LE as $115 and on the final CD as $138, exceeding the allowable 10% tolerance.  A tolerance cure of $11.50 is required.

11/17/2016:  A RESPA Recording Fee charge cure evidenced on the final CD. Condition cleared.  The loan will be rated a B for all agencies.

98

1030f4fe-12ac-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes Potentially

Yes

No Cure Once CD issued

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Loan Estimate document error

The LE is missing the lender's e-mail or phone number under the section, Additional Information About This Loan.

11/16/2016:This finding is not material. Loan will be graded a B for all agencies.

213

673cff33-0fb8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Rescind

A

A

VA

A

A

Property

Missing Appraisal Completion Cert

The subject appraisal was reflected as "subject to" and is missing the 442.  Please provide a 442. Additional conditions may apply.

12/12/16: Upon further review, appraisal in file is marked "as is". Condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 39.30 months reserves

213

0cab46e7-0eb8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Flood Cert Fee was not reflected in section B of the Closing Disclosure despite evidence of a flood cert in the file.  The Flood Cert fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

12/12/16: Lender provided an attestation that they absorb all costs associated with the flood certificate. Condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 39.30 months reserves

213

5dfcf23f-a6b8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing seller’s Closing Disclosure

Seller's CD was not provided in the file.

12/14/2016:  Seller CD provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 39.30 months reserves

213

d32c50a5-05b8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

B

B

CB

B

B

Insurance

Missing hazard insurance declaration

The loan file is missing the hazard insurance declaration.  The file contains a binder however the file is missing the a copy of the policy.  Additional conditions may apply.

12/12/16: Lender provided the hazard insurance declaration for the subject property.  Investor is providing a blanket waiver for purchase transactions closed in the subject property State where the effective date of the hazard insurance is after the Note date but on or prior to the transfer of funds date.  Final grade will be a B non-material on these waived exceptions.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 32.55%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 39.30 months reserves

107

40b39e75-6795-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing source of all large deposits into borrower's bank account. Additional conditions may apply.

11/10/16:  Large deposits: The June 30th deposit for $XX,XXX.XX, but it is payroll. If you look at the bank statements, he gets paid on the 15th and 30th of every month. We have lots of checks clear back to April that should show that a deposit of $XX,XXX.XX on June 30th is normal and customary.

11/11/16: Large deposits sourced. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves

107

3c2bcdf8-6195-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.) Title expired XX/XX/XXXX.

11/01/16: Lender provided the Schedule A from the title company reflecting the amount of insurance that will ultimately be on the title policy. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves

107

c3ab04ca-6695-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing final application (1003)

Final application to be updated to include the borrower's investment property under Schedule of Real Estate Owned on the final application.

11/15/2016:  Updated application provided reflecting the borrower's investment property under the Schedule of Real Estate, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves

107

931129fe-6295-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Terms/Guidelines

Missing asset documentation

Missing Two consecutive months of bank statements for asset accounts listed on application. (1003) Missing XX/XX bank statements.

11/10/16: We have two accounts #XXXX and #XXXX & #XXXX: We have a bank statement for XX/XX to XX/XX AND there is a printout thatis on top of that statement from XX/XX through XX/XX.? #XXXX: We have a statement dated XX/XX to XX/XX, XX/XX to XX/XX and XX/XX to XX/XX2016.  We shouldn’t need to have XX/XX statements based on the above documentation.

11/11/16: Bank statements are dated within 90 days of the note date. Condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves

107

825cff4e-6595-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

General Compliance

General Compliance Exception

The borrower was not charged for the credit report and credit supplement in file on the final CD. Additional conditions may apply.

11/11/16: Lender provided an attestation that the credit report and credit supplement fee are included in the origination charge or paid by the lender. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves

107

04e30e8d-1f3c-4c60-b994-5d1b89f1384c

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

HUD Homeownership Counseling Disclosure with list of agencies not provided within 3 days of application.

11/01/16: Lender provided the HUD Homeownership Counseling Disclosure with the list of agencies dated within 3 days of the application date. Condition Cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves

107

7d235ba7-180e-4fc6-89bb-bb41ae9ba563

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee name of $400.00 with no resulting CoC for any subsequent disclosures. The final CD reflects an Appraisal Fee of $450.00 resulting in a $50.00 refund due for cure.

10/18/2016: Final CD shows a sufficient tolerance cure in the amount of $50.00. Loan will be graded a B for Fitch and A for others. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves

107

7bd37240-ae27-4f7f-99ac-886f1f574458

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of DID SHOP Fee (Section C) & Recording Fee (Section E)

The Title-Search Fee in section C of the final Closing Disclosure is missing the name of the service provider (Title Closer is what it states)

12/6/2016:  Received updated notification of error addressing that the payee for title search fee was updated long with the removal of the title escrow fee as this was not charged, loan will be graded a B. 11/30/2016:  Received copy of the Notification of Error, however the notification does not address that the payee for title search fee was updated long with the removal of the title escrow fee as this was not charged, please provide.  11/11/16: Lender provided the corrected CD. Please provide the LOE to the borrower. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves

107

4f59137f-af00-45ca-b161-da416af85978

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete. The License Number of the Settlement Agent is missing.

11/09/16: The title companies in the subject property State are not required to have a license number.

11/30/2016:  Received post close CD listing the title companies DOS ID# along with a copy of the notification of error addressed to the borrower, loan will be graded a B.  11/15/2016:  According to our compliance department, title companies located in the subject property State are required to list their DOS ID#,  condition remains. 11/10/16: Sent to compliance for review.  Will advise as soon as possible.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves

107

5ac0e546-0795-4d91-9078-ce03d59f962b

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Transfer tax Fees on C.D. exceeds corresponding LE fees (0% Tolerance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects Transfer Taxes of $6640.00 with no resulting COC for subsequent disclosures. The final CD reflects taxes in Section E of $6894 resulting in a variance of $254.00. Refund for cure due.

10/18/2016: Final CD shows a sufficient tolerance cure in the amount of $254.00. Loan will be graded a B for Fitch and A for others.  Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves

107

b5d4c39b-6595-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

Under Section C Fees the Title-Escrow Fee on the final CD does not have a dollar amount.

12/6/2016:  Received updated notification of error addressing that the payee for title search fee was updated along with the removal of the title escrow fee as this was not charged, loan will be graded a B.  11/30/2016:  Received copy of the Notification of Error, however the notification does not address that the payee for title search fee was updated long with the removal of the title escrow fee as this was not charged, please provide.  11/11/16: Lender provided the corrected CD. Please provide the LOE to the borrower. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.817%  ; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 708; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 13.90 months reserves

152

83859f57-b723-4e7a-b4d3-d64c84d5c229

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

The HUD Homeownership Counseling Disclosure with the list of agencies provided within 3 days of application was not provided in file.

10/31/2016:  The HUD Homeownership Counseling Disclosure with the list of agencies provided within 3 days of application, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 21.20 months reserves; Years on Job Borrower has 22 years on Job

152

e47155a7-4595-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Revised LE provision timing requirement to consummation not met

The re-disclosed LE reflects a Date Issued of XX/XX/XXXX. Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to consummation of XX/XX/XXXX.

10/31/2016:  Signed LE dated XX/XX/XXXX provided, timing requirement met, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 21.20 months reserves; Years on Job Borrower has 22 years on Job

152

d4cd9559-b7e0-4fa9-a3d2-abde777fbd01

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

Condition added 11/3/2016: with the post close CD,  TOP over-disclosed by $3.88, none-material loan will be graded a B.

11/3/2016:  TOP over-disclosed by $3.88, none-material loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 21.20 months reserves; Years on Job Borrower has 22 years on Job

152

294de457-2e80-4567-9d44-5d0d52368775

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $XXXX a month versus. the calculated value of $XXXX a month. The lender used the incorrect amount of $XX for hazard insurance versus the actual amount of $XXX.

11/21/16: Details regarding Hazard Insurance and Tax information incorporated into the Post close CD.  Hazard insurance estimated monthly cost of $XXX ($XXXX  / 12 months = $XXX,XXX (rounded to .XX).2016 Property Taxes estimated monthly cost of   $XXX (XXXX/12 months = $XXXXX (rounded to .XX) $XXXX Total Estimated. The POC payment was made after closing, not prior, explaining why an amount was not listed as POC on the Final Closing Disclosure. I have completed another Post Consummation CD to include the amount of $XXXX as POC. ( “Paid before Closing” for TRID) The borrower paid a total of $XXXX (Policy) + $XX (Agent/Service Fee) = $XXXX Total Amount Due/Paid. the Hazard insurance company received the funds from closing. However, because the borrower paid the premium before the check from closing was received, borrower has a credit in line to be refunded, by the hazard insurer, as the premium was paid in full. Property Taxes: I previously addressed this with my initial email advising that the 2016 Tax Cert was available, therefore, I incorporated the updated amount to provide the latest information available, to the borrower, in our post consummation CD.

11/30/2016:  Lender provided post close CD reflecting the correct hazard insurance premiums paid along with a copy of the notification of error to the borrower.  The title company has also provided their Alta Statement along with their ledger verifying cash back to the borrower was $XXXX, loan will be graded a B.  11/21/16: Lender provided the corrected CD, however we are missing the LOE and evidence of mailing to the borrower. Condition maintained. 11/10/2016:  Post close CD and notification of error provided, however the hazard insurance is reflected as $XXX but the declaration page shows the premium as $XXXX, please clarify. Also, it appears the borrower received $XXXX cash-back at closing for overpayment of fees, a copy of the refund check was not provided in the loan file, please provide.  11/3/2016:  A post closing disclosure provided indicates the Estimated Taxes, Insurance and Assessments as $XXXX a month versus. the calculated value of $XXXX a month. Appears the lender used XXX for hazard insurance per the post close CD versus the actual amount of $XXX (the $XXX is based off of the premium provided in the loan file.   If the premium was reduced, please provide updated declaration page.    Also, it appears the borrower received $XXXX cash-back at closing for overpayment of fees, a copy of the refund check was not provided in the loan file, please provide.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 21.20 months reserves; Years on Job Borrower has 22 years on Job

152

262ca4f2-3f95-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Hazard Insurance Shortfall

Hazard insurance declaration reflects gross replacement cost coverage limit of $XXX,XXX with Note reflecting $XXX,XXX for a shortfall of $XXX,XXX; No replacement cost estimate is provided by the insurer.

11/3/2016:  Copy of the value replacement cost valuation provided from the insurer verifying the estimated reconstruction cost to be $XXX,XXX, therefore the this hazard insurance declaration page that was provided in the loan file is showing sufficient coverage, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 21.20 months reserves; Years on Job Borrower has 22 years on Job

78

ece4d152-fd8f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Hazard Insurance Shortfall

The Hazard insurance policy reflects the amount of coverage as $XXX,XXX with 110% extended replacement costs.  The estimated replacement costs was $XXX,XXX, coverage of $XXX,XXX and a shortfall of $XX,XXX.

11/02/16: Lender provided the corrected CD, LOE to the borrower,evidence of mailing and receipt of payment of $276.06. Condition cleared.10/24/2016:  Updated hazard insurance policy reflecting sufficient coverage provided, however there is $270.17 balance due.  Please provide evidence that the premium has been paid in full.  Also required, an updated CD reflecting the correct premium amount in Section F and updating the Estimated taxes, insurance & assessments reflecting $1339.96 vs. $1317.44.  Please note that a letter of explanation to the borrower must also be issued.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 730; No Mortgage Lates No Mortgage lates in excess of 24 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.8 months excess reserves

78

d6e467cf-fc8f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Insurance

Missing hazard insurance declaration

The Hazard Insurance Policy in the loan file was in effect after the Note date.

10/11/2016:  Exception granted for properties located in CA, when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 730; No Mortgage Lates No Mortgage lates in excess of 24 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.8 months excess reserves

78

e20b351c-f08f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Balance Sheet

Missing 2016 Balance Sheet for Borrowers' Partnership.  Per appendix Q, a Balance Sheet is required; in order for the loan to be classified as a Qualified Mortgage.

10/21/2016:  Balance sheet provided. Statement reflects no liabilities that would effect the income used to qualify, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 730; No Mortgage Lates No Mortgage lates in excess of 24 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.8 months excess reserves

78

e1f4a52c-26ac-4451-b45e-c17f4a9a5fc1

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of DID SHOP Fee (Section C) & Recording Fee (Section E)

The Pest Inspection, Title fees are reflected in section C of the final Closing Disclosure.  The borrower selected a service provider from the WLSP for pest inspection and title services.  The title services and pest inspection fees should be listed in section B of the CD.

10/20/2016:  Post close CD provided reflecting the pest inspection in section B, along with a copy of the notification of error to the borrower, condition cleared, however please see addition condition added.  Loan will be graded a B.   10/19/2016:  Audit has reviewed and determined that the title fees are okay as listed in Section C due to the borrower did not chose a provider from the WLSP, only the Pest Inspection should be listed in Section B due to this service provider was listed on the WLSP.  Please provide updated CD and copy of the notification of error addressed to the borrower.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 730; No Mortgage Lates No Mortgage lates in excess of 24 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.8 months excess reserves

78

e9666f2d-1097-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

Condition added 10/20/2016:  The cash to close on the Borrower's Final Settlement Statement dated XX/XX/XXXX on page 41 does not match the cash to close on the revised CD issued on XX/XX/XXXX. Per regulation (§ 1026.19(f)(2)(iii), creditors must provide a corrected Closing Disclosure if an event in connection with the settlement occurs during the 30-calendar-day period after consummation that causes the Closing Disclosure to become inaccurate and results in a change to an amount paid by the consumer from what was previously disclosed.  It appears there was a reduction in closing costs per the Borrower’s Final Settlement Statement (including prepaid interest) as compared to the revised CD issued on XX/XX/XXXX.  The file did not contain a copy of the refund provided to the consumers.

10/27/2016:  Post close CD and copy of the notification of error provided reflecting the correct cash to close which coincides with the Final Settlement statement dated XX/XX/XXXX.  Copy of the refund check for $501.31 from disbursement for excess cash to close provided which also coincides with the Final Settlement Statement.   Loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 730; No Mortgage Lates No Mortgage lates in excess of 24 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.8 months excess reserves

78

df4df3df-1116-4dce-b110-bebeaa713899

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent  disclosure for the borrowers.

10/21/2016:  E-Consents for both borrowers provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 730; No Mortgage Lates No Mortgage lates in excess of 24 months reviewed; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.8 months excess reserves

24

c3fcfc74-f46d-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy)

09/06/16: Lender provided a copy of the Commitment for Title Insurance showing the policy amount of $XXX,XXX. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.73%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 717; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #20.21 months excess reserves

24

f3215212-c77e-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Cash Out Amount Exceeds Guideline Maximum

Condition added 9/19/2016: Post close CD reflects cash out in the amount of $XXXX which exceeds the maximum permitted of $2000.

10/5/2016:  Received post close CD showing $XXXX cash back to borrower, along with the notification or error,  condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.73%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 717; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #20.21 months excess reserves

24

73c66761-de19-4320-bfed-4e4e17df24a0

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

TILA 130(b) within 60 days of discovery

N/A

N/A Condition Cleared

N/A Condition Cleared

3

2

N/A

A

A

RA

A

A

TRID

3 day rescission period not provided

The Right to Cancel form was executed on XX/XX/XXXX and reflected an expiration date of XX/XX/XXXX with funding dated XX/XX/XXXX per the final CD; Borrower not provided 3 day rescission period.

09/23/16: Lender provided the letter to the borrower explaining the correct dates, copy of refund check, copy of the corrected CD and evidence of delivery. Condition cleared. 09/22/16: Evidence of disbursement date provided, however missing the letter to borrower) explaining this correction made. Condition maintained.9/19/2016:  Copy of the re-disclosed CD provided showing a revised disbursement date of XX/XX/XXXX, however please provide evidence that indeed the loan did not disburse until XX/XX/XXXX ie..copy of internal screen shot showing the funding/disbursement date.  Please also provide notification of the error (i.e., the letter to borrower) explaining this correction made.  Also, please see additional conditions added for the 3 additional fees that were added to section B on this post close CD (this was escalated to compliance for review and we will advise as soon as possible) AND borrower received greater than $2000 cash back at closing, which exceeds guidelines.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.73%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 717; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #20.21 months excess reserves

24

766eba15-1bd2-4a88-812c-84cf22034cb0

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

2

2

A

A

RA

A

A

TRID

Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C

The Origination Charges in Section A are subject to 0% variance.  LE dated XX/XX/XXXX reflects a Discount Charge of $0 with no resulting COC for any subsequent disclosures.  Final CD reflects a Discount Charge of $XXXX for a refund required of ($XXXX).

09/06/16: Lender provided the CoC provided on the change affecting settlement charges. The rate lock was adjusted on XX/XX/XXXX based on the new FICO score, which in turn, happened because the borrower purchased a new car with a car loan resulting in an additional discount fee of $XXXX charged to the borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.73%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 717; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #20.21 months excess reserves

24

772dbcc9-9ca6-4b0f-9145-e69b22cb05b1

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Final CD Section B reflects an Appraisal review fee of $100 paid to lender; The fee should be reflected in Section A.

10/5/2016:  Post close CD provided listing the $100 refund in with the total lender credits so it now reads $1812.50 not $1712.50 on line J of the CD.  Notification of error was also provided, loan will be graded a B for Fitch and A for others.  9/19/2016:  Copy of $100 refund check along with notification of error and post close CD provided, however per Compliance, you need to include the $100 in with the total lender credits so it should read $1812.50 not $1712.50 on line J of the CD, even if the $100 was POCL. Otherwise, it just appears that the credit total was $1712.50 and the $100 refund was included in that total. Please provide updated CD and copy of the notification of error.   showing the funding/disbursement date.  Please also provide notification of the error (i.e., the letter to borrower) explaining this correction made.  Also, please see additional conditions added for the 3 additional fees that were added to section B on this post close CD (this was escalated to compliance for review and we will advise as soon as possible) AND borrower received greater than $2000 cash back at closing, which exceeds guidelines.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.73%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 717; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #20.21 months excess reserves

24

135f24f3-c57e-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

2

2

A

A

RA

A

A

TRID

Closing Disclosure document error

Condition added 9/19/2016:  3 additional fees (title - doc prep, title endorsement, and title processing) were added to section B on the post close CD that was provided - this has been escalated to compliance for review to determine if this is permitted and will advise as soon as possible.

10/5/2016:  Received post close CD removing the 3 fees in questions, these were added in error per the notification of error to the borrower, condition cleared. 9/20/2016:  Per Compliance, the 3 fees that were added to Section B (title-doc prep $50, Title-Endorsement $140, and Title Processing $75) are considered title requirements and are required by the current mortgage company, therefore should be reflected in section H.  Please provide updated CD along with a copy of the notification of error to the borrower.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 17.73%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 717; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #20.21 months excess reserves

3

63eea293-d4be-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

General Credit Exception

Missing 2013 K1 for company #D listed on 2013 1040 Schedule E.

02/26/2016 Lender provided proof that business "C" has been dissolved. 02/23/2016  Per CPA letter in file, confirms that business "C" was dissolved in 2012, and business "D" is the replacement corporation,since the borrower relocated. Regarding the 2013 & 2014 business returns in the file, both returns belong to business "D"; and the business name is a clerical error. Audit has confirmed that the EIN for both businesses match business "D", on the 2013 & 2014 return. Still pending confirmation that business "C" was dissolved in 2012. 02/22/2016 Received 2013 K1 for company C, still pending 2013 K1 for company # D.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

10fcc012-d5be-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

General Credit Exception 2

Missing signed 1120S for company #C shown on 2013 1040 Schedule E. (unsigned copy in file)

02/22/22016 Executed 1120s 2013 for company C received.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

672931d5-c9be-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing evidence verifying mortgage payments and linking mortgages listed on credit report to the 3 rental properties shown on 1003.

02/22/2016 Lender provided mortgage statements for all 3 properties, linking mortgages listed on the credit report.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

1769192b-cabe-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing income documentation

Missing signed 1120S tax returns for company #B shown on 2013 1040 Schedule E. (Unsigned copy in file)

03/02/2016: Received signed page 1 of 2013 1120S for company B. Condition cleared.02/22/2016 Received 2014 1120s for company B; however, executed 1120s document is already in the file. Still pending 2013 executed 1120s for company B, shown on the 2013 1040 schedule E.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

a3f0afe5-c9be-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Purchase Contract

Missing purchase contract for subject property. Addendum to contract was provided.

1/26/2016:  Copy of fully executed purchase contract provided and reviewed, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

7ae3ac62-cabe-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Business Tax Returns

Missing 2014 signed 1065 Tax Returns and K-1 for Company #A shown on 2014 1040 Schedule E. (Transcripts are in file)

03/02/2016: Lender provided signed 2014 final 1065's and K-1s for company A. Condition cleared.02/23/2016 Per CPA letter in file, borrower changed from filing a 1065 return to reporting the income on schedule E in 2014. Pending proof company "A" was dissolved. 02/22/2016 Received 2013 1120s for company A. Executed document already in file. Still pending executed 2014 1065 for company A, and 2014 K-1.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

55577814-ccbe-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing signed 4506-T

Missing 4506-T signed at application and at closing for all four companies shown on 2014 1040 Schedule E.

03/02/2016: Lender provided 4506-T's for all four companies signed during application process. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

95518cb9-c9be-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Evidence of Taxes and Insurance

Missing evidence of taxes and insurance for the 3 rental properties shown on 1003.

02/22/2016 - Lender provided mortgage statements for all 3 properties, confirming taxes and insurance payments.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

72d4f8f8-c9be-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

B

B

CB

B

B

Terms/Guidelines

Missing LOE

Missing letter of explanation for recent credit inquiries shown on credit report.

03/02/2016: Received inquiry letter dated post close.Condition Cleared. Loan will be graded a B. Credit report in file date XX/XX/XXXX did not show any new inquiries from Intial credit report in file dated XX/XX/XXXX (except for xxxx-XX/XX/XXXX nor any new mortgage accounts. All except on inquiry dated XX/XX/XXXX appears to be associated with this lender and transaction. Review  breached for missing credit letter. Satisfactory credit letter was provided dated post close and loan was graded a B due to guideline variance. All income and employment documents required to satisfy Appendix Q were provided pre-consummation.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

8c5db4b2-c9be-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Lease agreement

Missing current lease/rental agreement for all 3 rental properties shown on 1003. Per appendix Q , both IRS Form 1040 Schedule E; and a current lease/rental agreement is necessary to verify all consumer rental income; in order for the loan to be classified as a Qualified Mortgage.

02/22/2016 Current lease agreements provided for all 3 rental properties. Property # 1 is a three plex, lease agreement for apartment on the second floor is expired. Rental agreement not used, DTI still within guideline.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

080eda8c-dabe-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

General Compliance Exception

Missing Seller's CD.

1/26/2016:  Seller CD provided, fees updated in the system, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

8b83ac4e-dabe-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

General Compliance Exception 2

Missing documentation verifying CD revised after closing was sent to Borrowers.

1/26/2016:  Lender provided a copy of E-Sign History verifying final CD dated XX/XX/XXXX (property in escrow state) was sent to the borrowers on XX/XX/XXXX. No further documentation required, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

f17532f5-e0be-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

General Compliance Exception 3

Section H of CD does not list Real Estate commission paid by seller.

2/18/2016:  Seller CD provided, system updated with fees, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

2c272b28-ddea-4008-a4d3-581391466e99

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Special Information Booklet / Home Loan Toolkit

Missing Home Loan Toolkit.

1/26/2016:  Lender provided a copy of E-Sign History verifying borrowers E-Consented the initial disclosures which included the Home Loan Toolkit on XX/XX/XXXX which was within 3 days of the initial application date.  No further documentation required, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

c870513e-dabe-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

No Cure Missing Doc Not Provided

No Cure Missing Doc Not Provided

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Missing Documentation

Missing signed Intend to Proceed.

1/26/2016 Fully executed Notice of Intent to Proceed provided dated XX/XX/XXXX, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

6372034a-83f4-4eaa-8ac0-46c328a5f889

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal Consumer Protection

ECOA Non-Compliant: Additional valuation documentation not provided to borrower.

Documentation that CDA and appraisal field review were provided to borrower is missing from file.

01/25/2016 Condition not material. Appraisal provided within 3 days of application.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

bb0eda26-959e-4e53-8143-1f687dbe0049

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

QM/ATR

Loan does not meet criteria for Qualified Mortgage

Missing current lease/rental agreement for all 3 rental properties shown on 1003. Per appendix Q , both IRS Form 1040 Schedule E; and a current lease/rental agreement is necessary to verify all consumer rental income; in order for the loan to be classified as a Qualified Mortgage. Additionally, file is missing signed 1120S tax returns for company #B shown on 2013 1040 Schedule E and missing 2014 signed 1065 Tax Returns and K1 for Company #A shown on 2014 1040 Schedule E, all of which is required for loan to be classified as a Qualified Mortgage.

03/03/2016: Received signed & dated 1120S for business B. Condition cleared.03/02/16 Received final K-1 for business A is dissolved. Still pending executed and dated 1120s for business B. 02/29/2016 Executed 1120s for company B provided; however, document is not dated. QM requires signed and dated tax returns for self employed borrowers. Additionally still pending proof company A is dissolved. 02/26/2016 Received proof business C is dissolved. Still pending executed 1120s for company B, and proof company A is dissolved. 02/23/2016 Update to condition: Still pending executed 1120s for company B, and proof company A & C are dissolved to meet QM requirements. 02/22/2016 Received lease/rental agreements for all 3 rental properties. Still pending 2013 K1 for company # D,  executed 2014 1120s for company A, and 2013 executed 1120s for company B, shown on the 2013 1040 schedule E.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

6eee76cc-ae0a-441a-acd4-60cf05007431

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Borrower did not receive initial CD 3 days prior to consummation.

1/26/2016:  Lender provided a copy of E-Sign History verifying borrower E-Consented the initial CD on 1/6/2016.  No further documentation required, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

62e4a280-ec83-4368-9349-b923593ebd26

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

A

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

CDA Appraisal Form on LE reflects $150.00 and CD reflects $155.00.

2/26/2016:  File was escalated to compliance and the following was been determined: CDs issue prior to XX/XX/XXXX accurately reflect the $5.00 credit for tolerance, however, the XX/XX/XXXX CD issued does not reflect this tolerance cure but reflects an increase in credit in section J – this CD appears to be post consummation issuance due to being in escrow state.  Appears the CD issued on XX/XX/XXXX had a clerical error in not disclosing that since it was present on previous disclosures and issued post consummation.  It appears not to be a tolerance issue just a clerical error in the naming convention verbiage on that disclosure which was corrected in the issuance on the XX/XX/XXXX disclosure, condition cleared.   2/18/2016:  Lender has provided the following:  1). Notification of the error to the borrower - copy of letter provided.   2.)  Re-disclosed Closing Disclosure and proof of delivery of the re-disclosed CD provided. However, Still Pending:  1.) Copy of $5.00 refund check to the borrowers.  2.)  Evidence of overnight shipment of the check to the borrowers for evidentiary purposes.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

1c67d9fc-4ba7-4bc8-af5a-0e5d684e1a9d

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Missing corresponding W.L.S.P. for Initial L.E. in File DID SHOP Fee (Section C)

The service provider list in file is an old RESPA service provider list and does not list the individual "services" associated with each provider. It is not the service provider list that is under form H-27 in the rule. The WLSP is itself a violation and it is confusing to consumers because it has text that relates to the GFE.

01/25/2016 Lender provided initial WLSP with individual services listed. Disclosure provided within 3 days of application.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

cfd7739f-893d-457e-adb3-fc1ecd3972b9

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Total of Payments is not accurate

Total of Payments on CD is $XXX,XXX vs actual $XXX,XXX. Please provide evidence of re-disclosure.

2/18/2016:  Audit has re-calculated the TOP and has found the condition to be incorrect.  $XXX P&I x XXX + $XXX last P&I + $XXX section D + $XXX prepaid interest = $XXX,XXX minus Lenders TOP $XXX,XXX = difference of $X.XX.  TOP is within tolerance limits, therefore the condition has been cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

6ebeca2c-c5af-4810-9c63-632b7c526849

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not acknowledge receipt of initial C.D. 3 days prior to consummation

Borrowers did not acknowledge receipt of initial CD.

1/26/2016:  Lender provided a copy of E-Sign History verifying borrower E-Consented the initial CD on XX/XX/XXXX.  No further documentation required, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

0850c363-7ca1-4f45-911d-08357ab1bd1b

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

CD Contact Information does not show information for Buyer's or Seller's Real Estate Broker.

2/18/2016: Re-disclosed CD showing Contact Information for the Buyer's and Seller's Real Estate Broker provided along with proof of delivery of the re-disclosed CD to the borrowers.   Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

3

c285d7df-1dbc-4700-a262-a3d391e64457

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

A

A

RA

A

A

TRID

Final Closing Disclosure Document does not match LE Document values for Escrow – Projected Payment Table

Final CD value for Escrow payment reflects $1,177.03 and LE reflects $1,176.00

2/17/2016:  The reason the Final CD reflects a slightly higher value for the Escrow payment of $1177.03 is because the actual hazard insurance premium went up from the time it was estimated on the LE with a premium of $1380 to the post consummation final CD correct to show the actual hazard insurance premium about of $1397, which caused the escrow payment to go up slightly.

2/18/2016:  The estimate escrow disclosed on the LE does not need to match what is on the final CD.  (This does not carry any civil or assignee liability). Condition cleared as non- material.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.27%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.90 months reserves

188

a93c7284-b5bc-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Missing Closing Disclosure / CD Not in File

Missing funding Closing Disclosure.

12/9/2016:  Final CD provided and coincides with the final settlement statement, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 789; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 59.60%; Reserves are higher than guideline minimum : UW Guides require 9 months Subject reserves, loan qualified with 282.20 months excess reserves

188

1c4eba68-b5bc-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Yes

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Acknowledgement by all parties with a vested interest not documented

Vested non-borrower did not acknowledge final CD

12/9/2016:  Audit has reviewed and determined that this is a non-rescindable transaction, therefore the vested non-borrower does not need to acknowledge, condition rescinded.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 789; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 59.60%; Reserves are higher than guideline minimum : UW Guides require 9 months Subject reserves, loan qualified with 282.20 months excess reserves

181

d0f7a392-165e-4318-8ac0-5340fb972d3c

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure once CD Issued

N/A

N/A Condition Cleared

N/A Condition Cleared

2

2

2

A

A

RA

A

A

TRID

Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for.

Missing Written List of Service Providers for Loan Estimate dated 09/02/2016.

11/21/16: Lender provided the WLSP for the LE dated 09/02/16. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.575%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23.64  months reserves

181

14f3905d-9274-41e0-afba-7fd801cea1c3

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

TILA

Funding occurred before RTC Expiration Date

Funding occurred before RTC Expiration date. The Right to Cancel form was executed on XX/XX/XXXX and reflected an expiration date of XX/XX/XXXX. The CD reflects a disbursement date of XX/XX/XXXX.

11/21/16: Lender provided the corrected CD, LOE to the borrower, and evidence of funding, which is after the expiration date of the RTC. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.575%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23.64  months reserves

181

aa516f76-9c64-4985-aa6b-d46b071a4f45

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing E Consent Disclosure.

11/21/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.575%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23.64  months reserves

181

d0f6ade0-88aa-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing appraisal

Appraisal to be corrected as it lists a contract price and date of contract on page one. This is a refinance transaction.

11/22/2016 Corrected appraisal provided. Removing contract date and sales price. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.575%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23.64  months reserves

181

4191b0c8-88aa-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing Payoff Statement

Missing payoff statement for HELOC listed second on Section VI., Assets and Liabilities on final application (1003).

11/22/2016 Payoff statement along with proof HELOC statement closed provided. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 36.575%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23.64  months reserves

39

f17a25dc-03a2-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.

11/11/16: Updated preliminary title report provided showing the correct loan amount. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 751; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66.14%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with #13.10 months reserves

39

8acbb0bf-a8a2-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

General Compliance Exception

The subject loan was funded in a dry funding state.  Final settlement statement in file indicates a cash to borrower of $XXX vs the final CD which reflects a cash to close of $XXX with a discrepancy of $XXX.

11/11/16: Lender provided the corrected CD and LOE to the borrower. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 751; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66.14%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with #13.10 months reserves

39

629d9764-4b46-44ba-bc41-8268515f4193

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

CD Document does not match actual calculated values for Estimated Total Monthly Payment

The final Closing Disclosure does not match actual calculated values for Estimated Total Monthly Payment. The CD shows the payment amount as $3,727.44, the calculated payment amount is $3,843.44.  The lender used the incorrect amount of $116.00 HOA vs. the actual amount of $93.00.

11/11/16: Lender provided the corrected CD and LOE to the borrower. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 751; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66.14%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with #13.10 months reserves

39

9c125012-1be8-4b7d-8ec3-c2dcb3837b35

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

A

A

RA

A

A

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,182.70 a month vs. the calculated value of $1,159.71 a month. The lender used the incorrect amount of $116.00 HOA vs. the actual amount of $93.00.

11/11/16: Lender provided the corrected CD and LOE to the borrower. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 751; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66.14%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with #13.10 months reserves

39

fc3d76bc-384d-4a44-9246-ff32918f944a

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent disclosure for the borrower as E-Consent provided in the file is for co-borrower only and dated XX/XX/XXXX which is after co-borrower e-signed 3 of the Loan Estimates provided in file.

11/11/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 751; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66.14%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with #13.10 months reserves

54

0a99ff13-8885-4e5a-b192-09e182e68b58

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

No Cure

No Cure

N/A Condition Cleared

N/A Condition Cleared

3

3

3

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Evidence of borrower's receipt of initial CD 3 days prior to consummation was not provided. The initial CD is not dated within 3 days of the consummation date.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.  Disclosure Tracking provided in file reflects initial CD was previewed on XX/XX/XXXX, however it does not specify that the Initial CD was e-signed or acknowledged by the borrowers on 08/26/2016.

9/15/2016:  Lender provided copy of CD with an issue date of XX/XX/XXXX reflecting wet signatures dated XX/XX/XXXX which is at least 3 days prior to consummation.  No further documentation required, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.80%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 685; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12.90 months reserves

54

6fe02f9b-5e78-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

General Credit Exception

Lender did not provide an ATR/QM status determination supporting Pass status for QM Safe Harbor qualification per Pg596.

9/15/2016:  Lender provided ATR Worksheet supporting status determination as yes for eligible for Safe Harbor and QM, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.80%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 685; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12.90 months reserves

54

88914902-ed78-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the correct amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.)

11/22/2016 Updated title policy removing encroachment for the pool and spa as well as the encroachment for driveway/walkway. Condition cleared. 10/12/2016:  Received copy of survey and title commitment, however these were previously provided. We are still unable to determine if the encroachment of the spa/pool deck is less than a foot.  Under exceptions from coverage, number 5, encroachments of the spa/pool deck over the building line as shown on survey. Per investor guidelines, please verify if it’s less than a foot and verification of endorsement from the title company covering this. Condition maintained. 10/07/16: Received copy of title commitment, however under exceptions from coverage, number 5, encroachments of the spa/pool deck over the building line as shown on survey. Per investor guidelines, please verify if it’s less than a foot and verification of endorsement from the title company covering this. Condition maintained. 9/16/2016:  Received copy of title commitment verifying lenders coverage equal to the loan amount, however upon further review of the title, regarding the encroachment of the spa/pool deck over the building line, per investor guidelines, please verify if it’s less than a foot and verification of endorsement from the title company covering this.  9/15/2016:  Escalated to compliance for review of encroachments, will advise as soon as possible.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 34.80%; FICO is higher than guideline minimum UW Guides require FICO of 680, loan qualified with FICO of 685; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 12.90 months reserves

33

08f05adf-8186-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing evidence of the withdrawals within the last 12 months and evidence the HELOC was closed.

10/07/16: Lender provided the signed authorization to close HELOC. Condition cleared. 10/5/2016: Review of credit report in the file, reflects a 26 month draw history. HELOC included in cash out total, therefore a withdraw history within the last 12 months not required, however still pending evidence that the HELOC has been closed. ie..fully executed closure letter addressed to creditor, credit supplement verifying HELOC has been paid off and closed out.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 30.73%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 738; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 90.10 months reserves

33

30cde5fe-8386-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXX(Prelim in file does not reflect the amount <or the correct amount> of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.)

10/07/16: Lender provided the Preliminary Title Report showing the correct amount of  $XXX,XXX. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 30.73%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 738; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 90.10 months reserves

33

73c748e6-510e-457d-bd1f-2dee7ae23c8f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically.  Provide E Consent disclosure for the borrowers.

10/07/16: Lender provided the borrower's Consent to Receive Communications Electronically dated within 3 days of the application date. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 30.73%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 738; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 90.10 months reserves

44

9778b1e9-080e-45d2-89f9-5170142518b6

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclose for the borrowers.

10/07/16: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.

9

8a4cb75f-b09c-4b10-9e51-d0297c32e874

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Missing Special Information Booklet / Home Loan Toolkit

Evidence Borrowers received the Home Loan Toolkit not provided in file.

04/14/2016 Lender provided internal screen shot and disclosure package confirming that the home loan toolkit was provided within 3 days of the application. Condition cleared. 4/12/2016:  Copy of Home Loan Toolkit provided, however unable to determine when it was provided to the borrower.  Need evidence that the Home Loan Toolkit was provided to the borrower within 3 days of initial application of XX/XX/XXXX.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23 months reserves ; Years on Job Borrower has 32 years on job

9

e4d4c2d9-dbea-4514-af7f-67497c67f02f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

RESPA

Affiliated Business Disclosure not provided within 3 business days of application date.

The Affiliated Business Disclosure in the file is dated XX/XX/XXXX and the original application date is XX/XX/XXXX.

4/12/2016:  Signed Affiliated Business Disclosure provided dated XX/XX/XXXX which is within 3 days of initial application, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23 months reserves ; Years on Job Borrower has 32 years on job

9

09902855-27fb-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure once CD Issued

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for.

WLSP is missing a detailed list of services which corresponds to the LE for services the borrower is permitted to shop for.  The WLSP lists Title Company but not the services provided by the Title Company.

04/07/2016: Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23 months reserves ; Years on Job Borrower has 32 years on job

9

a87b0e01-28fb-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

The file reflects a canceled check for $XXX payable to a real estate company for a broker fee on XX/XX/XXXX.  Please clarify, is the borrower purchasing another property?  Additional conditions may apply.

4/7/2016:  In regards to the Check, this was for a property that the borrower co signed on for her son. the Debt is included in the DTI

4/12/2016:  Per LOE, the check was for the property that the borrower co-signed for her son. This debt was counted in the DTI, no further documentation required, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23 months reserves ; Years on Job Borrower has 32 years on job

9

e8e43fdb-27fb-e511-99e0-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Incomplete Documentation

The hazard insurance certificate is missing the policy number.

04/13/16: Lender provided the Homeowners Declaration Page showing the Policy number. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23 months reserves ; Years on Job Borrower has 32 years on job

51

ddba6717-e49a-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing final application (1003)

Missing final signed 1003.

11/02/16: Lender provided the final signed 1003. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 29.24%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 770; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 61.20 months reserves

51

68dbdd20-568c-446d-8cc2-f821cce39a04

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent disclosure for the borrower and co-borrower.

11/02/16: Lender provided evidence of the borrower's consent to receive documentation electronically. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 29.24%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 770; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 61.20 months reserves

13

b0e469d6-b60b-e611-8544-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

B

B

CB

B

B

Income/Employment

Failure to obtain Occupation and Employer Information

Missing verification of the phone listing & address of the borrower's employer for verification of employment. Per lenders G/L's must provide a phone listing and address for the applicant's employer must be obtained independently.

5/6/2016:  Received 3rd party printout independently verifying borrowers employer phone listing and address.   The printout is dated post close therefore loan will be graded a B. Employers address and phone number verified with pre-close documents in file that included a written verification of employment, recent paystubs, prior 3 year W-2's and verbal verification of employment. Although internet search of employers name and address was provided, post close, this is not a Appendix Q requirement and loan was graded a B due to guideline variance.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.756%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 748; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 36.89 months reserves

13

68f0a675-d70b-e611-8544-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing applicant's payment or forbearance agreement for liabilities #4 & #5 listed under Section VI on application. Per lender guidelines, if the monthly payment cannot be verified by the credit report, a copy of the applicant's payment letter or forbearance agreement must be obtained.

5/6/2016:  Student loans minimum monthly payments were calculated by using 6.80% interest rate based on a 10 year amortization, borrowers qualify with these minimum monthly payment calculations, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.756%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 748; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 36.89 months reserves

13

5f1b0069-cc0b-e611-8544-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.)

6/8/2016:  Updated DU Findings and a revised CD updating the estimated taxes,insurance, & assessments to $590.93, along with a copy of the notification of error and proof of delivery provided, condition cleared.  .5/17/2016:  Lender has provided evidence that the subject property is indeed located in a PUD.  Lender has provided an updated appraisal, new 1008 & 1003, and evidence that the Deed of Trust will be re-recorded as a PUD.  Please provide updated DU Findings and a revised CD updating the estimated taxes,insurance, & assessments to $590.93, along with a copy of the notification of error and proof of delivery.   5/10/2016: Per the title commitment, it appears that there maybe a Homeowners Association (see item #14), please clarify.  No mention on the appraisal and/or purchase agreement.  Additional condition may apply.  5/6/2016:  Sent to Team Lead for Review, will advise as soon as possible

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.756%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 748; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 36.89 months reserves

13

52e17b2a-db0b-e611-8544-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing AUS results

The file is missing an AUS/DU as required by guidelines. Additional conditions may apply.

5/6/2016:  DU Findings provided showing approve/ineligible due to the loan amount exceeds the maximum allowable loan limit, Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.756%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 748; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 36.89 months reserves

13

6326d3b9-e20b-e611-8544-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing asset documentation

Missing terms of withdrawal for asset account #5 listed under Section VI of the application (1003).

5/20/2016:  401K withdraw terms provided, condition cleared. 5/6/2016:  Audit has reviewed the documentation provided, however please provide evidence what the employer constitutes as a Hardship Withdraw.  Per the statement that was provided, the amount available was $XXX,XXX.XX "if eligible".  We need to ensure the borrower is eligible for withdraw.  Additional conditions may apply.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.756%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 748; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 36.89 months reserves

13

c51ae082-c10b-e611-8544-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing HUD-1 From Sale of Previous Property

CD from sale of exiting home is not signed/certified by the title agent. Please provided certified CD or other documentation confirming closing.

5/6/2016:  The seller CD for the departing property was provided but was not executed, however a credit supplement was provided verifying the existing mortgage was paid in full, which the amounts coincides with the amount listed on the CD, and proof of receipt of the net proceeds from the sale are verified via wire transfer from the title company going directly into the borrowers bank account.  Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.756%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 748; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 36.89 months reserves

13

64682919-e30b-e611-8544-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing LOE

Letter of Explanation (pg 351) does not address if new credit was taken out for all the credit inquiries.

5/6/2016:  Lender provided LOE verifying the only inquiries that were made was by them, along with a utility company.  Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.756%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 748; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 36.89 months reserves

13

0d3994f2-490d-e611-8544-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

General Compliance Exception

In order to use the electronic signatures, please provide copy of signed E-Sign Consent Form giving the Lender permission to do so.

5/6/2016:  Copy of e-Consent disclosures provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.756%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 748; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 36.89 months reserves

13

7995b476-7816-4df1-b6ef-ecf0e867873a

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Origination Charges - Section A

The Tax Certificate Fee for $87 and the Wire Transfer Fee of $30 are paid to 3rd parties and not to the lender therefore should be listed in Section B and subject to zero percent tolerance. This can be cured by providing a post close CD showing these fees in section B, provide notification of error (letter to borrower), and proof of delivery of the post close CD to the borrower.

5/18/2016:  Upon receipt of further clarification from compliance, it has been determined that if the fees are listed in Section A, it is know that these fees are part of the origination charges, charged by the Lender to the borrower.   No further documentation required, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.756%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 748; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 36.89 months reserves

13

01b4da48-eb0b-e611-8544-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

A

A

RA

A

A

TRID

Closing Disclosure document error

The HOA Dues in section H of the final Closing Disclosure dated XX/XX/XXXX is missing the name of the service provider.

5/17/2016:  Post close CD provided updating payee in section H, along with notification of error and proof of delivery, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 35.756%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 748; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 36.89 months reserves

149

2873893c-9f75-426a-9041-64121946d009

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

General Compliance

Missing Initial Escrow Account Disclosure

Initial Escrow Disclosure was not provided in the loan file.

11/7/2016:  Initial Escrow Disclosure dated XX/XX/XXXX provided, condition cleared. 11/2/2016:  No attachment, please upload, thank you.

149

b46bd4d5-959f-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal Consumer Protection

Missing HUD Homeownership Organization Counseling Disclosure

HUD Homeownership Organization Counseling disclosure was not provided in the loan file.

11/02/16: Lender provided the HUD Homeownership Organization Counseling Disclosure showing the 10 closest counselors, dated within 3 days of the application date. Condition cleared.

149

1073e4c9-ec34-418b-a90b-302c76b8b4c9

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report Fee and Flood Cert Fee were not reflected in section B of the Closing Disclosure despite evidence of a credit report and a flood cert in the file.  The Credit Report Fee and Flood Cert fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

11/2/2016:  Received attestation verifying there was not a credit report fee nor flood cert fee charged on this loan, condition cleared.

149

de1ced49-a35f-4530-a529-e9464f2e97a2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $450.00 with no resulting CoC for any subsequent disclosures.  The final CD reflects an Appraisal Fee of $460.00.  This fee is in a 0% tolerance section. Lender tolerance cure of $10.00 is required.

11/01/2016:  The final closing disclosure reflects a post close tolerance cure of $10.00, which is sufficient. Loan will be graded a B for Fitch and A for others.

32

2a3e9a28-017d-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

General Compliance

General Compliance Exception

Lender did not provide an ATR/QM status determination.

10/07/16: Lender provided the high cost worksheet showing QM status. Condition cleared.

32

30b89734-7e1b-408e-80b9-dc5f05a96b96

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

A

A

RA

A

A

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The NMLS License Number of the Settlement Agent is missing.  Please note that a letter of explanation to the borrower must also be issued.

10/07/16: Lender provided the corrected CD, LOE to the borrower, and evidence of mailing. Condition cleared.

32

1bd6575e-9b44-4274-9322-17af496e7355

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

TILA

Funding occurred before RTC Expiration Date

Final CD in file reflects disbursement date as XX/XX/XXXX, RTC Expiration Date is XX/XX/XXXX.

10/07/16: Lender provided the corrected CD, LOE to the borrower, evidence of mailing and the funding date. Condition cleared.

32

c84c1331-1dac-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing appraisal

Condition Added 11/16/2016:  File is missing the second appraisal which is required on loan amounts over $1,000,000.00.

11/16/2016:  Satisfactory second appraisal provided reflecting a value of $XXXX as of XX/XX/XXXX, condition cleared.

157

ec8110a3-a3ad-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Terms of withdrawal from the Borrower’s retirement account was not provided in file.

12/12/16: Lender provided the terms of withdrawal for the borrower's 401K. Condition cleared. 11/30/2016:  Received Plan Loan and Hardship Provisions, however unable to determine if these apply to our borrower.   No name and/or account number listed on the documents, unable to cross reference them with the 401 K statement that was provided in the loan file. Condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 314.60 months reserves

157

225dbd50-a4ad-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title equal to the loan amount reflected on the Note (Prelim in file does not reflect the amount <or the correct amount> of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.)

11/30/2016:  Title commitment provided showing lenders coverage equal to the loan amount reflected on the Note, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 314.60 months reserves

157

a82c6844-a3ad-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  The loan file contains 1 page of a 3rd party fraud tool however; a complete report must be in the loan file.  Additional conditions may apply.

11/30/2016:  Third party fraud report provided with all variances addressed, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 314.60 months reserves

157

459ce3c6-18d2-4c7f-9341-385387eed262

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

RA

A

A

RESPA

Missing Affiliated Business Disclosure

File is missing the Affiliated Business Disclosure.  If the lender and broker are not affiliated with any other businesses, please provide an attestation stating such.

11/30/2016:   Audit has received a prior attestation verifying the Lender does not have any business affiliates, therefore condition is rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 314.60 months reserves

157

4ce48d66-3ab7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

B

RA

A

A

RESPA

Sufficient RESPA Cure provided on HUD-1

Condition added 11/30/2016:  Lender provided a $22.75 credit for increase in closing close above legal limit.

11/30/2016:  Audit could not find any tolerance violations, loan will be graded a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 314.60 months reserves

157

a2e96c67-7e22-4116-b8ba-cbb14c2d8d07

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure once CD Issued

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for.

The service provider list in file is an old RESPA service provider list and does not list the individual "services" associated with each provider. It is not the service provider list that is under form H-27 in the rule. The WLSP is itself a violation and it is confusing to consumers because it has text that relates to the GFE.

11/18/2016:  Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 314.60 months reserves

157

5622e422-c7c6-4d9c-ade8-f42e64846c89

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Non-Material

Yes

Yes

Not Likely

yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Origination Charges - Section A

The Discount points, Administration Fee and Processing Fee in section A of the final Closing Disclosure are missing the name of the service provider.

11/30/2016:  Audit has reviewed and determined that the fees located in section A are paid to the Lender, therefore the names of the service provider are not required, condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 314.60 months reserves

157

9cae21a6-aef8-49fc-998e-1bfd5ea0aa0e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

no

no

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete.  The License Number of the Settlement Agent is missing and the  Name, Address, CA License Id, Contact, Contact License ID, Email and Phone are missing for the Mortgage Broker.  Please note that a letter of explanation to the borrower must also be issued.

11/30/2016:  Lender provided a post close CD reflecting the contract information for the settlement agent along with a copy of the notification of error that was provided to the borrower, loan will be graded a B.   (Please note:  there is no mortgage broker, subject loan is a retail loan, therefore no broker information is required.   The name listed as the loan originator company is another trade name for the lender listed on the Note, please see NMLS website)  Retail Loan. Loan Officer NMLS ID was provided on LE's & CD's

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 314.60 months reserves

157

c80c52ca-fbac-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The property taxes in section F of the final Closing Disclosure are missing the government entity.  Please note that a letter of explanation to the borrower must also be issued.

11/30/2016:  Lender provided a post close CD reflecting the payee for the property taxes in section F along with a copy of the notification of error that was provided to the borrower, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 314.60 months reserves

157

84932b85-a6ad-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes Potentially

Yes

No Cure Once CD issued

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Loan Estimate document error

The LE is missing the lender's name, CA License ID, Loan Officer, and email or phone number and the Mortgage Broker Information is where the lender's information is located under the section, Additional Information About This Loan.

11/18/2016:  This is a non-material issue. The loan will be rated a B for all agencies.Retail Loan. Loan Officer NMLS ID was provided on LE's & CD's

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.85%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 314.60 months reserves

173

cbb20753-ca20-4d15-9ef9-0b96fa1aa401

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Title - Lender's Title Insurance and Title - Settlement Fee are reflected in section B of the final Closing Disclosure.  The borrower shopped for their own title service provider and did not use the provider on the WLPS.  The title service provider fees should be listed in section C of the CD.

12/8/2016:  Upon receipt of further clarification from compliance, it has been determined that if the fees are listed in Section A, it is know that these fees are part of the origination charges, charged by the Lender to the borrower, therefore condition is rescinded.

173

ba37bcf4-0db7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

A

RA

A

A

TRID

Closing Disclosure document error

The Appraisal Fee in section B and the Tax Certificate fee in section A of the final Closing Disclosure are missing the service providers.

12/09/16: Lender provided the corrected CD for the appraisal fees in section B, and LOE to the borrower within 60 days of consummation. Condition cleared.

174

8d4ab330-cdbb-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

A

RA

A

A

TRID

General Compliance Exception

The subject loan was funded in a dry funding state.  Estimated Settlement Statement in file indicates a cash to borrower of $XX,XXX vs. the final CD which reflects a cash to borrower of $XX,XXX with a discrepancy of $X,XXX.  Please provide Final Settlement Statement and explanation of discrepancy.

12/12/16: Lender provided the corrected CD, and LOE to the borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 33.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 752; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.70 months reserves

174

19769955-cebb-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Legal Documents

General Compliance Exception 2

Lender did not provide a QM Safe Harbor status determination.

12/12/16: Lender provided the QM Safe Harbor status determination. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 33.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 752; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.70 months reserves

174

f7da6cbd-cebb-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

The loan file is missing a letter from the borrowers to close the current HELOC.

12/19/2016:  HELOC closure letter provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 33.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 752; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.70 months reserves

174

e4f3ec95-c8bb-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

B

B

CB

B

B

Legal Documents

Missing 4506-T

Missing the initial and final 4506-T for the borrower's S-Corporation.

12/19/2016:  Received copy of the signed 4506-T during the application process, however the 4506-T from closing was signed post close, loan will be graded a B.   Loan approved based on following: File contained 2 yrs personal & signed business tax returns, personal & business tax transcripts as well as applicable  P&L's and Balance Sheets. Borrower is S/E and file contains appropriate pre-consummation employment and income documentation. Business 4506-T was signed after closing.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 33.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 752; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.70 months reserves

174

3d1b1fa7-cfbb-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Cleared

A

A

VA

A

A

Value

570 - Review Appraisal Missing

A CDA report was not provided in the loan file.

12/12/16: CDA reflecting a value of $XXX,XXX, which is a -0.0% variance.  Condition Cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 33.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 752; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.70 months reserves

94

ab72c756-3aa5-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing AUS results

Missing AUS results

11/14/2016:  DU Findings provided reflecting approve/ineligible due to loan amount exceeds allowable loan limit, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 41.01%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 780; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #1.7 months excess reserves

209

50e6ee59-36b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing signed joint access letter from borrower's spouse for annuity account.

12/08/16: Lender provided the signed joint access letter from borrower's spouse for annuity account. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 39.172%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides requires 9 months reserves, loan qualified with 95.63 months reserves

209

f80196a6-35b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing income documentation

Missing income documentation for "Other Income" shown on most recent tax return. Additional conditions may apply.

12/08/16: Lender provided 2015 1009. Income not used to qualify. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 39.172%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides requires 9 months reserves, loan qualified with 95.63 months reserves

209

83b3790a-35b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

B

B

CB

B

B

Income/Employment

Missing verbal verification of employment

Missing search engine results for verbal verification of employment. Per lender's guideline's the address and phone number of the employer must be obtained independently.

12/08/16: Search engine results are a guideline requirement, received post close. Loan will be graded a B. Employers address and phone number verified with pre-close documents in file that included a written verification of employment, recent paystub dated 30 days prior to note date, prior year W-2 , verbal verification of employment and letter of employment. Although internet search of employers name and address was provided, post close, this is not a Appendix Q requirement and loan was graded a B due to guideline variance.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 39.172%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides requires 9 months reserves, loan qualified with 95.63 months reserves

209

e7ba0e10-36b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing LOE

Missing LOE for gap in borrower's employment history. Per Lender's guideline's a 2 year employment history must be verified. Additional conditions may apply.

12/08/16: Lender provided an signed LOE for job gap from 06/15 to 11/15. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 39.172%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides requires 9 months reserves, loan qualified with 95.63 months reserves

209

9cf633e1-35b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Document not signed

Per Lender's guideline's ,all Letter's of Explanation must be signed by the borrower. Additional conditions may apply.

12/08/16: Lender provided the signed LOE's. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 39.172%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides requires 9 months reserves, loan qualified with 95.63 months reserves

209

c2004df3-39b7-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

General Compliance Exception

12/7/2016:  condition updated to reflect that evidence of mailing is not required due to this is a non-monetary correction, all other requirements are required.  Section B, Appraisal Fee credit of $350.00. Regulation 1026.19(f)(2)(iii) state the amount that is actually paid must be disclosed. It is a violation on actual charges because the appraiser only charged $650.00 not $1,000.00.  To correct this, the $350.00, would need to be a credit in section J. Please provide a corrected CD within 60 days of consummation, LOE to the borrower, and evidence of mailing.

12/12/2016:  Received post close CD correcting the errors long with a copy of the notification of error, loan will be graded a B. 12/12/16: Lender provided a corrected CD, and LOE to the borrower, however, Section B, Appraisal Fee is incorrect. Condition maintained.12/08/16: Lender provided a corrected CD, and LOE to the borrower within 60 days, however,  Section B, Appraisal Fee is incorrect. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 39.172%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides requires 9 months reserves, loan qualified with 95.63 months reserves

209

7e51f31d-09b8-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

2

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Final CD, in section H under Title-Owner’s Title Insurance, is missing the word Optional.  Since it is a premium related to the issuance of the owners title insurance it should also have the parenthetical description (optional) at the end of the cost label. Please provide a corrected CD within 60 days of consummation, and LOE to the borrower. Additional conditions may apply.

12/12/2016:  Received post close CD correcting the errors long with a copy of the notification of error, loan will be graded a B.  12/12/16: Lender provided a corrected CD, and LOE to the borrower, however, Section B, Appraisal Fee is incorrect. Condition maintained.12/08/16: Lender provided a corrected CD, and LOE to the borrower, however, Section B, Appraisal Fee is incorrect. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 39.172%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 711; Reserves are higher than guideline minimum UW Guides requires 9 months reserves, loan qualified with 95.63 months reserves

45

486c4840-4405-4985-9efa-f63f81e1da1c

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The final CD reflects Appraisal Review fee paid to investor in amount of $100.00 in section B. Investor does not permit a fee payable to the investor to be collected. A refund of $100 along with revised CD, letter of explanation to borrower and proof of shipment must be provided.

10/10/2016:   Received post close CD along with a copy of the notification of error, reflecting the payee for the appraisal review, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 41.151%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 700; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.39 months reserves

45

c7729e8f-8495-436b-a63b-c6f8a469e878

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes - Potentially

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

A

A

RA

A

A

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure dated indicates the Estimated Taxes, Insurance and Assessments as $850.56 a month vs. the calculated value of $831.56 a month. The lender used the incorrect amount of 40.00 for the HOA vs. the actual amount of $21.00 per the appraisal.

10/10/2016:   Received post close CD along with a copy of the notification of error, updating the calculated value to $831.56 for the estimated taxes, insurance and assessments, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 41.151%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 700; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.39 months reserves

45

ac3a6827-618a-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

2015 Amended Tax Return is not signed/dated by the borrowers.

10/23/16: Lender provided the 2015 Amended Tax Return signed/dated by the borrower and co-borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 41.151%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 700; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.39 months reserves

45

9bb7a941-618a-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Legal Documents

Missing HELOC agreement

Missing signed/dated HELOC closure statement.

10/7/2016:  As it turns out, this was not a HELOC and to support this, I have attached a revised prelim.

10/10/2016:  Audit has reviewed and determined that per the credit report in the loan file (pg 254) and the updated title commitment, the 2nd mortgage in question is not a HELOC, but indeed a 2nd mortgage, therefore a closure letter is not required, condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 41.151%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 700; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.39 months reserves

45

dc563d9c-608a-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

Missing final application (1003)

Missing final application signed/dated by the borrowers & loan officer.

10/13/16: Lender provided the final loan application signed by the loan officer. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 41.151%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 700; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.39 months reserves

45

ea579906-618a-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing W-2

Missing 2015 W2 for borrower's previous employer as listed on application. (1003)

10/10/2016:  Copy of borrowers 2014 W-2 provided for previous employer, 2015 W-2 was not provided, however there is a 3rd party WVOE provided in the loan file (pg 388) verifying borrowers wages for 2015, therefore no further documentation required, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 41.151%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 700; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 16.39 months reserves

17

ea9f537d-b755-e611-86f5-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Terms/Guidelines

General Credit Exception

Please provide an LOE regarding the name shown on the P&L and Balance Sheet on page 567. The title does not correspond to the business shown on the borrower's tax returns or 1003. Additional conditions may apply.

09/23/16: Lender replied, joint venture where subject company is a 50% owner and managing member. The other a NY Corp. Certificate of good standing provided. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.57%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #60 months excess reserves

17

f8544e91-c555-e611-86f5-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing income documentation

Missing licenses for borrower's and co-borrower's businesses listed in Section V. of the final 1003.

09/27/16: Business license provided. Condition cleared. 09/23/16: Lender provided the business license for the first 2 companies shown in Section IV. of the final 1003. Please provide the business license for the third. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.57%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #60 months excess reserves

17

60b1595b-b755-e611-86f5-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Legal Documents

Missing 4506-T

Missing 4506-T for borrower and co-borrower business entities with >25% ownership.

11/30/2016: Condition waived based on executed 4506-T's were provided post close, loan will be graded a B.  Loan approved based on following: File contained 2 yrs personal & signed business tax returns, personal tax transcripts as well as applicable  P&L's and Balance Sheets. Borrowers are S/E and file contains appropriate pre-consummation employment and income documentation. Client approved guideline exception for 4506-T. 10/10/2016:  It has come to the attention of Audit, that we do not have the signed 4506-T for the 3 businesses that were signed at application, only the ones that were executed post close, condition remains for the signed 4506-T for the 3 businesses that were signed at application.  Investor will only make exceptions if they have the 4506 signed at application and then a closing or post-closing.     09/23/16: Lender provided the signed (Post Close) 4506T's for the borrower and co borrower's businesses. Loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.57%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #60 months excess reserves

17

89d76171-fb57-e611-86f5-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Balance Sheet

Balance sheet for the borrower's and Co borrower's S-Corp. and Partnerships are not signed as per guidelines.

09/23/16: Lender provided the signed P&L and Balance Sheets for the borrower's and co borrower's businesses. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.57%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #60 months excess reserves

17

f97ecce3-fb57-e611-86f5-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing YTD Profit & Loss

Profit and Loss for the borrower's and Co borrower's S-Corp.and Partnerships are not signed per guidelines.

09/23/16: Lender provided the signed P&L and Balance Sheets for the borrower's and co borrower's businesses. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.57%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #60 months excess reserves

17

62cf674c-f357-e611-86f5-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

CD reflects investor review fee paid to investor in amount of $250.00. Investor does not permit a fee payable to the investor to be collected. A refund of $250.00 is required.

8/9/2016:  Post close CD provided reflecting the $250 refund for the investor fee, along with copy of the $250 refund check, notification of error, and proof of delivery.  Loan will be graded a B for Fitch, and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.57%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #60 months excess reserves

17

ccb5f5a4-51d8-4a22-8386-6a28bb486f5e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of DID SHOP Fee (Section C)

The Title - eRecording Fee, Title-Lender's Title Insurance, and Title Settlement Fee are reflected in section B of the final Closing Disclosure dated XX/XX/XXXX. The borrower shopped for their own The Title - eRecording Fee, Title-Lender's Title Insurance, and Title Settlement Fee and did not use the provider on the WLSP. The title fees should be listed in section C of the CD.

8/10/2016:  Updated notification of error provided explaining the move of the title fees from section B to section C, condition cleared, Loan will be graded a B for Fitch and A for others.  8/9/2016:  Post close CD provided moving the title fees in section B to section C, along with proof of delivery, however notification of error letter does not address this change that was made, please provide updated notice to borrower.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.57%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #60 months excess reserves

17

35ee084e-5386-4c16-9b3c-c3aa09b6c5a7

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure - Missing Doc Not Provided

No Cure

N/A - Condition Cleared

N/A

3

3

2

A

A

RA

A

A

TRID

Missing E Consent Disclosure

In order to use electronic signatures please provide copy of signed E-sign Consent Form giving the lender permission to do so.

8/9/2016:  E-consent for borrower provided, condition cleared.  8/9/2016:  Copy of e-consent provided for co-borrower, pending e-consent for borrower.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.57%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 778; Reserves are higher than guideline minimum UW Guides require #9 months reserves, loan qualified with #60 months excess reserves

60

830c7978-647e-4584-8901-f8aa4c629ec7

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

HUD Homeownership Counseling Disclosure not provided within 3 days of application.

10/6/2016:  HUD Homeownership Counseling Disclosure provided and is dated within 3 days of the initial application, condition cleared. 10/3/2016: Copy of post close CD provided, still pending evidence that the HUD Homeownership Counseling Disclosure was provided within 3 days of application.

60

e26ffffe-ab4e-4643-931b-39e7c34cd547

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Survey Fee is reflected in section B of the final Closing Disclosure. The borrower shopped for their own Survey Fee and did not use the provider on the WLSP. The Survey Fee should be listed in section C of the CD.

09/26/2016: The Lender corrected it on post close CD and Survey Fee was moved to Section C. Loan will be rated a B for Fitch and A for others.

60

a2b8da8f-bbcb-4a3e-8b10-e79ac63ba6d9

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects Appraisal Fee of $450 with no resulting CoC for any subsequent disclosures. The Final CD reflects an Appraisal Fee of $500.00 resulting in a $50.00 refund due for cure.

9/26/2016: Post Close CD shows a sufficient tolerance cure in the amount of $50.00. Loan will be graded a B for Fitch and A for others.  Condition cleared.

60

a2d91905-2cb2-47ec-ab62-6bbfc7f45012

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

A

A

RA

A

A

TRID

Naming Convention in Services Borrower DID SHOP Fee (Section C) on C.D. is not consistent with L.E.

The Title-Attorney Document Preparation Fee on the Final CD is incorrectly named as compared to the LE dated XX/XX/XXXX Lender's Warranty Deed Prep. Although no tolerance, these fees should all match in naming convention.

10/3/2016:  Post close CD provided updating CD to reflect the correct naming convention for the Lender Warrant Deed Prep in section C, along with copy of notification of error to the borrower, condition cleared.

60

535db998-0081-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

A

B

RA

A

A

TRID

Lender Credits on Final Closing Disclosure at closing is inaccurate in relation to previous Initial disclosure(s)

The CD dated XX/XX/XXXX reflects a lender credit in the amount of $XXX. The lender credit decreased to $XXX on the CD dated XX/XX/XXXX with no indication of a valid COC to account for the $XXX decrease in the credit.

09/26/2016: Post Close CD shows a sufficient tolerance cure in the amount of $XXX. Loan will be graded a B for Fitch and A for others.  Condition cleared.

55

ac4d59d0-52c2-4c23-a202-4dddf4769a94

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

HUD Homeownership Counseling Disclosure not provided within 3 days of application.

10/18/16: Lender provided the HUD Homeownership Counseling Disclosure dated within 3 days of application. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 9.069%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 41.13 months reserves

55

edf36b43-f78f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

Final Closing Disclosure indicates a tolerance cure in the amount of $25.00 for increase in Appraisal Fee.

10/11/16: Final CD shows a sufficient tolerance cure in the amount of $25.00. Loan will be graded a B for Fitch and A for Others. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 9.069%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 41.13 months reserves

55

d4c8e9e7-f88f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing Documentation

Missing evidence of the balance and monthly payment of debt listed #5 under Liabilities on the application (1003).

10/18/16: Lender provided evidence of the balance and monthly payment of debt listed #5 under Liabilities on the application (1003). Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 9.069%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 41.13 months reserves

55

5eaa0fbe-f88f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing HELOC agreement

HELOC closure letter is not signed by the borrowers.

10/18/16: Lender provided the signed HELOC closure letter. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 9.069%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 41.13 months reserves

55

479ee0e0-f68f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing Balance Sheet

Balance sheet signing date is after the date of the note.  This is non QM compliant.

10/31/2016:  Received copy of lenders internal screen shot as evidence that the borrowers P&L and Balance Sheet for 2016 were signed on 8/24/2016 which is prior to closing, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 9.069%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 41.13 months reserves

55

442aabea-f68f-e611-98c2-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing YTD Profit & Loss

YTD Profit & Loss signing date is after the date of the note. This is non QM compliant.

10/31/2016:  Received copy of lenders internal screen shot as evidence that the borrowers P&L and Balance Sheet for 2016 were signed on 8/24/2016 which is prior to closing, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 9.069%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 788; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 41.13 months reserves

180

9d866108-e0a5-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Title

Missing copy of title

Missing copy of the prelim title for $XXX,XXX (Prelim in file does not reflect the correct amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.)

11/14/2016:  Title commitment reflecting lenders coverage equal to the loan amount provided condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 18.39%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.60 months reserves

180

a30f0283-e0a5-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing income documentation

The subject was qualified using bonus income.  The lender's guidelines require bonus income to be itemized for the year-to-date for the current year and previous two years.  Although most recent 2016 year-to-date paystub was provided reflecting bonus income, a WVOE reflecting bonus income was not provided in file.  WVOE reflecting bonus income for previous two years must be provided.

11/14/2016:  WVOE provided from a third party vendor verifying bonus income for the past 3 years.  The lowest bonus income was used to qualify, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 18.39%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.60 months reserves

180

33b62c38-e0a5-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

B

B

CB

B

B

Terms/Guidelines

Missing Evidence of Taxes and Insurance

Missing Evidence of Taxes and Insurance for the borrower's departing residence reflected in the Schedule of Real Estate Owned on the loan application.

11/21/16: Lender provided the Closing Disclosure for the departing residence showing sold after consummation of the subject property. Loan will be graded a B. Payment for departure residence was considered and included in DTI. FHA loans typically require taxes & insurance be escrowed. Credit report showed loan on departure residence is FHA loan. DTI was 19.57% including departure residence payment. Even if escrows were not included in payment listed on credit report, including additional amounts for escrows, the DTI would still be below max 43%.File contained pre-consummation required employment & income documentation to satisfy Appendix Q. Loan was graded a B due to guideline variance.11/14/2016:  Lender provided LOE stating property in question is a loan in which this is verified on the credit report.  FHA loans do require taxes, insurance and MI to be escrowed, therefore the payment reporting on the credit report can be utilized to verify the PITI, however please verify the property is not subject to any monthly HOA fees.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 18.39%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.60 months reserves

180

1a75c7eb-dfa5-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Legal Documents

Missing 4506-T

Missing 4506-T for primary borrower signed at application.

11/14/2016:  Signed and dated 4506-T from application provided for borrower, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 18.39%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.60 months reserves

180

738157fe-e0a5-e611-b5f3-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Income/Employment

Missing W-2

Wage and Income Transcripts were provided in file in lieu of actual 2014 & 2015 W-2 forms for both borrowers.  2014 & 2015 W-2 forms for both borrowers must be provided.

11/14/2016:  W2's for 2015 and 2014 provided for both borrowers, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 18.39%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.60 months reserves

180

24742dc0-6bc2-4d6e-b151-8da8ec2c4aac

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Federal High-Cost

HUD Homeownership Counseling Disclosure not provided within 3 days of application

HUD Homeownership Counseling Disclosure was not provided in the loan file.

11/14/2016:  HUD Homeownerhip Counseling Disclosure dated within 3 of the initial application provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 18.39%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.60 months reserves

180

d749cb7a-d564-462e-a9de-c728af063f97

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

N/A

3

2

2

A

B

RA

A

A

TRID

Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C

The Origination Charges in Section A are subject to 0% variance.  LE dated 10/13/2016 does not reflect an Escrow Administration fee and there was no resulting COC for any subsequent disclosures.  Final CD reflects an Escrow Administration fee of $300.00 for a variance/refund required of $300.00.

11/08/2016:  The final closing disclosure reflects a post close tolerance cure of $300.00, which is sufficient.  Loan will be graded a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 18.39%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.60 months reserves

180

675c7798-1363-49ba-a22a-155e9a4f27a8

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A Condition Cleared

N/A Condition Cleared

3

3

2

A

A

RA

A

A

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report Fee and a Flood Cert Fee were not reflected in section B of the Closing Disclosure despite evidence of a credit report and a flood cert in the file.  The Credit Report Fee and Flood Cert Fee should be disclosed in section B of the Closing Disclosure or an attestation that no fee was allocated to the loan transaction must be provided.

Expenses for credit reports and flood certifications are paid on bulk invoices, and are not allocated to individual loans.

12/7/20106 Upon further investigation it has been determined that the attestation provided is sufficient to clear the finding. Even though there is an invoice in the file, this is not necessarily what was charged for the specific transaction. Condition cleared. 12/5/2016:  Escalated to compliance for review, will advise as soon as possible.  12/01/16: Please provide contract with the vendor or a corrected CD within 60 days of consummation, and LOE to the borrower. Condition maintained. 11/23/2016  Please verify Lender is under a contract with the vendor to provide credit reports/flood certs at a set rate per month and the rate is not dependent upon the number of credit reports/flood certs that are requested and provided. Note: the credit report in file reflects a Price of $18.10.  Condition remains.  11/14/2016:  Received LOE from Lender verifying that they pay for the credit report and flood cert, therefore this needs to be reflected on the CD in the lender paid column.   Please provide updated CD and copy of the notification of error to the borrower.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 18.39%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 794; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.60 months reserves

282

01293e79-c1df-45ea-bc20-936799691522

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. The loan file contains a E Consent however, it is dated after the initial LE.

1/23/2017:  E-Consent dated XX/XX/XXXX provided for both borrowers, condition cleared. 1/19/2017:  Intent to Proceed provided, however still pending evidence that borrowers gave their e-consent to received documents electronically on or prior to XX/XX/XXXX.  1/13/2017:  E-consent provided, however is dated XX/XX/XXXX, borrower e-signed documents on XX/XX/XXXX, need evidence that borrowers e-consented on or prior to XX/XX/XXXX.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 809; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 49.38%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with 2.17 months excess reserves

312

01e607fc-ead2-483f-87ba-afd638288dc0

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

Yes

3

2

2

A

B

RA

A

A

TRID

Transfer tax Fees on C.D. exceeds corresponding LE fees (0% Tolerance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects Transfer Taxes of $2,958.00 with no resulting COC for subsequent disclosures.  The final CD reflects taxes in Section E of $2,992.00 resulting in a variance of $34.00.  Refund for cure due.

02/14/2017:  Final CD shows a sufficient tolerance cure in the amount of $34.00. Loan will be graded a B for Fitch and A for others.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 20.17%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 771; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 73.80 months reserves

75

02027a5f-a47a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing 4506-T

Missing 4506T at closing for borrower partnership (B); Guidelines require signed initial 4506T at application and final at closing.Missing 4506T at closing for borrower 1041 Trust Return; Guidelines require signed initial 4506T at application and final at closing

11/17/2016:  Received signed 4506-T from closing for both the partnership B and the Trust, condition cleared.  10/28/2016:  Received initial signed 4506-T for partnership B and the Trust, however still pending signed 4506-T from closing for both partnership B  and the Trust .

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves

75

065b8dd0-a57a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Income Tax Schedules

Missing complete 1065 returns for borrower partnership (A) income; statement supporting line #20 deduction is missing.

2/2/2017:  Received copy of the itemized statement for line #20, condition cleared.  10/29/2016:  Only the first page of the tax returns provided, condition remains for the complete 1065 returns for borrowers partnership (A) income; statement supporting line #20 deduction is missing.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves

280

07083e82-b2dd-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure once CD Issued

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Loan Estimate document error

The LE dated # is missing the lenders phone number and/or email address.

01/19/17: Non material, information is on CD, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 786; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #29.80 months excess reserves

288

08325531-28c9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report.  Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings.  Additional conditions may apply.

12/30/16: Lender provided the third party fraud report. No outstanding issues noted. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.63%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 58.60 months reserves; Years on Job Borrower has 20 years on job

277

0b6f004a-14c2-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

General Compliance Exception

The property taxes in Section F are missing the taxing authorities. The regulations that cover the disclosure of transfer tax (1026.38(g)(1)) and property tax (1026.38(g)(2)) require a payee to be listed.

12/14/16: Corrected on the post close CD. Loan will be graded a B.

CLTV is lower than guideline maximum : UW Guides maximum CLTV of 75%, loan qualified with CLTV of 62.49%; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies 82 months total payment history with no late payments reported; Years on Job Borrower has 30 years in Field  per 1003

286

0cb0ad01-8e6e-4405-8a31-86bbdaf4f208

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Affiliated Business Disclosure not provided within 3 business days of application date.

Affiliated Business Disclosure provided in the file was dated XX/XX/XXXX, which was not within 3 business days of application date.

The loan file has in it a Correspondent Affiliation Cert. This information is included and this is a correspondent loan and we didn’t do the initial disclosures at initial app.

02/06/17: Attestation provided. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.76%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #50 months excess reserves

220

0e8b9e7c-52e2-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Cleared

A

A

VA

A

A

Property

Appraisal not provided

Condition added 1/24/2017:  Second appraisal not provided.  Two appraisals required per Investor Guidelines for loan amounts greater than $1,000,000.00.

1/25/2017:  Second appraisal provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves

280

0f28559e-ca0e-41fb-9164-a93329a8da8a

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Missing Special Information Booklet / Home Loan Toolkit

Missing Home Loan Toolkit and evidence of issuance within 3 days of application.

1/26/2017:  Audit has reviewed and determined that the Lenders Application date was XX/XX/XXXX per page 252.  Lender provided evidence that they provided the Home Loan Toolkit within 3 days of the Lenders Application date, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 786; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #29.80 months excess reserves

226

102230af-a2e8-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing copy of title

Missing copy of the title equal to the loan amount (Commitment in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy.)

02/06/17: Lender provided a revised title commitment, showing policy will reflect the amount of insurance. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 714; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #35.30 months excess reserves; Years Self Employed Borrower self-employed 11 years

277

133598be-4c8a-42a0-817e-ad76e7f0ddb4

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

Estimated Taxes, Insurance & Assessment: CD fees are disclosed as $961.33. Actual fees total $959.58, a $1.75 over disclosure.

12/14/16: CD Estimated Taxes, Insurance & Assessments section is a non-material grade B for difference of $1.75. Loan will be rated a 'B' for all agencies.

CLTV is lower than guideline maximum : UW Guides maximum CLTV of 75%, loan qualified with CLTV of 62.49%; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies 82 months total payment history with no late payments reported; Years on Job Borrower has 30 years in Field  per 1003

284

135de561-39be-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Credit

Missing 4506-T

Missing 4506-T for business returns.

01/10/2017: Post-close 4506-T for both businesses provided. Client approved exception to accept 4506-T signed post close. 4506-T is not an Appendix Q required document. File contains 2 years business & personal tax returns, business license, verbal verification of employment, all obtained pre-consummation and satisfies all appendix Q requirements. Condition cleared. Final grade will be a B. 12/30/16: Lender provided a copy of the 4506-T's for the businesses signed at application. Please provide the 4506-T's signed at closing. Condition maintained.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 128 months excess reserves

286

171a0731-d8e7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

General Credit Exception

Executed Home Equity Line of Credit (HELOC) closure letter reflecting HELOC was frozen and closed was not provided in the file.

02/06/17: Lender provided the closure letter for the HELOC. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.76%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #50 months excess reserves

214

18ce3bc2-4fdf-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

Cured - Missing Doc Provided

No Cure

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Initial Closing Disclosure timing requirement not met

Rescindable transactions require that the Closing Disclosure must be given separately to each consumer who has the right to rescind under TILA (see § 1026.23).  Although the Disclosure History provided in the file evidences that the Initial CD was acknowledged by the borrower through an e-signature, there is no evidence that a separate Initial CD was acknowledged by the borrower's spouse.

1/27/2017:  CD with wet signature from borrower's spouse dated XX/XX/XXXX provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.68%; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 14.20 months reserves

285

194d0262-1a29-473e-ba1b-369523984bef

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Missing corresponding W.L.S.P. for Initial L.E. in File DID SHOP Fee (Section C)

The WLSP corresponding to the initial LE dated XX/XX/XXXX is invalid. The service providers are listed along with the amount of charges that do not correspond the LE.

12/15/2016: Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 724; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 75%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #7.39 months excess reserves

279

1ab4bc4f-28e3-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing 4506-T

Missing the initial signed 4506-T for the borrower. Per Lender guidelines; a signed 4506-T is required at application and at closing.

2/1/2017:  The initial signed 4506-T provided for the borrower, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 30.79%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Years in Field Borrower has 16 years in the field.

205

1adb4c06-03ce-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing E Consent Disclosure

E-Consent provided in the file is for the primary borrower.  There is no evidence in the file that e-consent was given by the co-borrower.  E-Consent Disclosure for the co-borrower must be provided.

1/20/2017:  Audit has reviewed and determined that none of the documents that were provided in the loan file were e-signed, they all have wet signatures, therefore an e-consent is not required, condition rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.68%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.40 months reserves

314

1ae6abba-2497-4758-b361-6dc1894b28fe

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Yes, Potentially

Yes

No Cure once CD Issued

Not Applicable

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Revised LE provision timing requirement to consummation not met

The re-disclosed LE reflects a Date Issued of XX/XX/XXXX. Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7 specific business days prior to consummation.

The last re-disclosed LE was dated XX/XX/XXXX. With the mailbox rule applied, the earliest the loan can close is XX/XX/XXXX which is when the borrower signed. The initial CD was disclosed on XX/XX/XXXX. The last re-disclosed LE was dated XX/XX/XXXX. With the mailbox rule applied, the earliest the loan can close is XX/XX/XXXX which is when the borrower signed. The initial CD was disclosed on XX/XX/XXXX.

02/08/17: Upon further review, the last disclosed LE was dated XX/XX/XXXX which is within 7 days of consummation. Condition rescinded.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 709; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 57.61%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #156 months excess reserves

280

1b7c8679-9e75-40b8-92e0-a66dd577373d

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

A

A

RA

A

A

Compliance

ECOA Non-Compliant: Appraisal disclosure not provided within 3 days of application.

The Appraisal Disclosure is dated XX/XX/XXXX and the application date is XX/XX/XXXX.  Missing evidence of borrower receiving the Appraisal Disclosure within 3 business days of application.

1/26/2017:  Audit has reviewed and determined that the Lenders Application date was XX/XX/XXXX per page 252.  The Lender did provide the initial documents with 3 days of the Lenders Application date, therefore condition is rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 786; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #29.80 months excess reserves

185

1cd18a76-c029-465e-809f-b3f4bbd03341

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

2

1

1

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Provide an executed copy of the Intent to Proceed disclosure for the borrowers.

1/4/2017:  Intent to proceed dated XX/XX/XXXX provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves

306

1d544d87-d889-488d-966f-da17599b870f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

2

1

1

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Provide an executed copy of the Intent to Proceed disclosure for the borrowers.

2/9/2017:  An executed copy of the Intent to Proceed dated XX/XX/XXXX provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 65%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 74.70 months excess reserves

220

1e728f97-21d9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing verbal verification of employment

Missing the verbal verification of employment for both borrowers.  The VVOE is in the loan file however, it missing the borrower's date of employment.

1/24/2017:  Satisfactory VVOE for both borrowers provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves

310

1eec8ac3-08ad-43a8-8b29-d53d1789078e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically.  The loan file contains an E Consent from the borrower's however; they were not signed prior to the first loan document.

2/10/2017:  E-Consent for both borrowers provided dated XX/XX/XXXX and XX/XX/XXXX respectively, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of  25.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  727; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  24.50 months reserves

227

230ef7ea-69de-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Credit

Missing Evidence of HELOC Draw for the Past 12 Months

Missing 12 months draw history to verify that no draws greater than $2000 has occurred; Additional conditions may apply

1/24/2017:   Review of credit report in the file, reflects a 2 year draw history. HELOC included in cash out total. Condition rescinded

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of ; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.01%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #14.84 months excess reserves

291

25783c74-7dd3-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing 4506-T

Missing the initial executed 4506-T's in the loan file from both borrowers.

01/06/17: Lender provided the initial 4506T signed by both borrowers. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 28.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 26.60 months reserves

313

268dd238-bce4-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

General Credit Exception

Please provide signed borrower letter providing authorization to close Home Equity Line of Credit on subject property.

2/13/2017:  Credit supplement provided verifying HELOC secured against subject property was closed out, condition cleared. Debt was not counted in DTI due to being paid and closed at closing.  02/07/17: Lender provided a letter authorizing closure of the HELOC dated post close. Please provide closure letter dated at or prior to close. Or, since this is dated post close, and is not from a third party,  please provide a credit supplement verifying the HELOC has been closed and has a zero balance. Condition maintained.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 28.48; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.82%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #33 months excess reserves

309

284bdf80-1ce4-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

General Compliance Exception

Final settlement statement in file indicates a cash to close of $XXX,XXX.XX vs. the post close CD which reflects a cash to close of $XXX,XXX.XX with a discrepancy of $XX.XX.

2/3/2017:  Updated CD provided reflecting the correct cash to close along with updated notification of error, loan will be graded a B.  2/2/2017:  Received post close CD, however the cash to close is not correct.  Please provide updated CD reflecting $XXX,XXX.XX as the cash to close amount along with a copy of the notification of error.  2/1/2017:  Received copy of the CD from Funding verifying the cash to close as $XXX,XXX.XX, which coincides with the final settlement, however the lender credits on page 1 of the CD does not match the lender credits on page 2, section J, please clarify.  Please provide updated CD and copy of the notification or error to the borrower.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #34.85 months excess reserves

199

28c52230-1d4c-4192-a788-cddcb652ab86

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

HUD Homeownership Counseling Disclosure not provided within 3 days of application

A HUD Home-ownership Organization Counseling Disclosure was not provided in the loan file within 3 days of the loan application.

1/9/2017: HUD Home-ownership organization counseling disclosure provided and is dated within 3 days of the loan application, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 30.45%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 797; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #12.8 months excess reserves

227

295019bf-57de-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing copy of title

Missing copy of the prelim title equal to the loan amount (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy

1/25/2017:  Copy of the prelim title provided, reflecting lenders coverage equal to the loan amount, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of ; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.01%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #14.84 months excess reserves

279

29fa917f-8f9e-4953-8656-b08f60385396

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX.

01/25/17: Non Material, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 30.79%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Years in Field Borrower has 16 years in the field.

277

2b5cf5ce-14c2-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Closing Disclosure document error

On the post close CD, Escrow Refund Excess Deposit of $4,440.00 in Section H. The costs disclosed under § 1026.38(g)(4) include all real estate brokerage fees, homeowner’s or condominium association charges paid at consummation, home warranties, inspection fees, and other fees that are part of the real estate closing but not required by the creditor or not disclosed elsewhere under § 1026.38. Please provide clarification as to what the Escrow Refund Excess Deposit is for, and why it was disclosed in Section H. Additional Conditions may apply.

1/4/2017:  Received post close CD reflecting the $XXXX refund back to borrower in Section K, along with a copy of the notification of error, loan will be graded a B.  12/29/2016:  Per Compliance and the Investor Guidelines, the $XXXX refund to the borrower can be considered a refund to the borrower and be considered reserves. The funds were verified prior to closing and we can trace source of the funds.  We can see how once the title company settled on the cash to close, the borrow met the reserve requirement.  Excess deposit refunds should be disclosed in the adjustment section of the CD, if the CD is on the format without an adjustment section, the excess deposit would be a negative number in section K.  Please provide an updated CD and a copy of the notification of error.   12/20/2016:  Escalated to compliance for review, will advise as soon as possible.

CLTV is lower than guideline maximum : UW Guides maximum CLTV of 75%, loan qualified with CLTV of 62.49%; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies 82 months total payment history with no late payments reported; Years on Job Borrower has 30 years in Field  per 1003

282

2bbd0d02-5cd7-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

Cured - Missing Doc Provided

Cured - Missing Doc Provided

N/A - Condition Cleared

N/A - Condition Cleared

2

1

1

A

A

RA

A

A

TRID

Missing seller’s Closing Disclosure

Missing seller's Closing Disclosure

1/13/2017:  Per compliance, ok to clear the finding with what the lender provided.  The CD does reflect the seller’s costs and now proof has been provided that the seller acknowledged receipt.  All seller CD requirements are met, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 809; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 49.38%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with 2.17 months excess reserves

278

2fb6f04e-bde9-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Closing Disclosure document error

Final CD does not disclose second appraisal, second appraisal needs to be disclosed even if paid by another party, additional conditions may apply.  Please note that a copy of the notification of error to the borrower must be provided along with the redisclosed CD.

02/08/17: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B. Condition cleared.

306

3066dbc4-d775-4258-9f1e-ce8893b91d75

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

Yes

3

2

2

A

B

RA

A

A

TRID

Origination Charges - Section A on C.D. exceeds L.E. Fee (0% Variance) - not supported by C.O.C

The LE dated XX/XX/XXXX reflects no Rate lock Extension Fee and the final Closing Disclosure reflects a Lock Extension Fee in the amount of $877.50.

02/06/2017:  The revised CD dated XX/XX/XXXX reflects a rate lock extension fee of $877.50 with corresponding COC provided.  No cure required.  Loan will be rated a B for Fitch and A for others.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 65%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 74.70 months excess reserves

282

326bef67-5cd7-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The Homeowner's Insurance premium in section F of the final Closing Disclosure is missing the name of the service provider.

1/13/2017:  Post close CD provided listing the payee for the Homeowner's insurance in Section F, along with a copy of the notification of error, loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 809; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 49.38%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with 2.17 months excess reserves

309

32798a0f-0ae4-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Credit

Failure to Verify Housing History

Missing 24 month housing credit history; lender guidelines require a minimum 24 month rental housing history.  The loan file contains 16 months of cancelled checks for rents paid however; the loan application and verification are missing a full 24 month rental history.

1/31/2017:  Audit has reviewed and determined that only 12 months most recent housing payment history is required, not 24 per investor guidelines.  File verified 16 months of satisfactory payment history, therefore condition has been rescinded.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #34.85 months excess reserves

292

348fe939-fe8c-4044-be32-93207a273683

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX.

1/16/2017:  TOP over-disclosed, non-material, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.56%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 744; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #5.9 months excess reserves

285

34ea9aae-3cc2-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply

1/4/2017:  Property profile reports provided verifying borrowers do not have any ownership in the properties in question, condition cleared.  12/23/2016:  Third party fraud report provided, however there are 5 properties appearing on page 30, 31, and 39, that states the borrowers may currently own that are not appearing on the Real Estate Owned section of the application, please clarify.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 724; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 75%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #7.39 months excess reserves

277

3769c4b0-f804-44b4-93ac-e54d2dbbcd68

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

2

2

B

B

RB

B

B

TRID

Information required for CD 'Contact Information' section not completed, or completed in error

The final Closing Disclosure Contact Information section is incomplete. The license number of the Settlement Agent is missing.Please note that a letter of explanation to the borrower must also be issued.

1/4/2017:  Received post close CD reflecting the completed contact information for the Settlement Agent, along with a copy of the notification of error to the borrower, loan will be graded a B.

CLTV is lower than guideline maximum : UW Guides maximum CLTV of 75%, loan qualified with CLTV of 62.49%; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies 82 months total payment history with no late payments reported; Years on Job Borrower has 30 years in Field  per 1003

292

38571364-c2d9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Credit

Missing hazard insurance declaration

The effective date of the hazard policy is dated XX/XX/XXXX, which is after the Note date.

1/16/2017:  Exception granted by client for properties located in the subject State when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.56%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 744; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #5.9 months excess reserves

286

39015a5d-63ea-46f7-a5c5-cc1431cca439

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX.

01/31/2017:  This finding is not material. Loan will be graded a B for all agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.76%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #50 months excess reserves

273

39a12cdd-16dc-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing copy of title

Missing copy of the prelim title equal to the loan amount. (Prelim in file does not reflect the amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy)

1/20/2017:  Copy of prelim title provided reflecting lenders coverage equal to the loan amount, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.03%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 801; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #5 months excess reserves

290

3aea3024-80d3-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Yes, Potentially

Yes

Cured - Missing Doc Provided

No Cure

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Initial Closing Disclosure timing requirement not met

Rescindable transactions require that the Closing Disclosure must be given separately to each consumer who has the right to rescind under TILA (see § 1026.23).  Although the E Sign Certificate provided in the file evidences that the Initial CD was mailed to the borrower, there is no evidence that a separate Initial CD was mailed to the co-borrower.

1/20/2017:  Audit has reviewed and determined that the subject loan is not a rescindable transaction due to subject property is new construction, therefore the condition is not valid and has been rescinded.  1/19/2017:  Information not provided, condition remains. In rescindable transactions, the disclosures required by §1026.19(f) must be given separately to each consumer who has the right to rescind under §1026.23. The E Sign Certificate provided in the file evidences that the Initial CD was provided to the borrower, however, there is no evidence that a separate Initial CD was provided to the co-borrower.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 737; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #18.78 months excess reserves

198

3e56c2f0-c1d6-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Excessive DTI

Maximum DTI permitted 40% vs actual DTI 40.13%.

1/11/2017:  Audit has reviewed and determined that dividend/interest income was not utilized when the qualifying income was determined.  When adding dividend/interest income to the qualifying income, the DTI is now reporting as 36.49%, which is within guidelines.  Condition cleared.  (Please note, the assets were also updated to reflect the use of the div/int income for 36 months)

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23.71%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #406 months excess reserves

282

4046cfa3-85d7-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

No Cure - Missing Doc Not Provided

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Missing Closing Disclosure / CD Not in File

Transaction is in what is considered a "dry funding state". Please provide the post close CD provided to the borrowers. Additional conditions may apply.

1/13/2017:  Post close CD provided listing the payee for the Homeowner's insurance in Section F, along with a copy of the notification of error, this also confirms the fees from funding, loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 809; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 49.38%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with 2.17 months excess reserves

198

404c7290-99d2-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Credit

Document Error

Note and Mortgage reflect vesting that does not match Title.

1/10/2017:  Audit has reviewed and determined that the vesting on the note and mortgage does match the title, therefore condition has been rescinded.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23.71%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #406 months excess reserves

313

405c7ff4-bbe4-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Credit

Missing Evidence of HELOC Draw for the Past 12 Months

Missing 12 months draw history to verify that no draws greater than $2,000.00 has occurred; Additional conditions may apply.

2/2/2017:  Review of credit report in the file, reflects a 2 year draw history. HELOC included in cash out total. Condition rescinded.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 28.48; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.82%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #33 months excess reserves

185

42ee528e-3ac9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Documentation

Missing corrected Written Verification of Employment supporting W2 income documented for borrower employer #2: Missing Prior employer Written Verification of Employment disclosing period of employment for co-borrower employer #2:QM requires complete income documentation; Additional conditions may apply.

1/10/2017: Per Compliance, we do not believe you would need this VOE as co-borrower no longer is employed there and you have two years of verified employment history with the borrower, no income was used to qualify for co-borrower other than the negative income, condition cleared.   1/4/2017:  Written VOE was provided in the original loan file for employer #2 for Borrower #1.  The W-2 provided for 2015 matches the WVOE, however for 2014, it appears that the Written VOE does not break out non-taxable income, therefore there is a discrepancy.  The W-2 was more conservative and was validated by the IRS Transcripts, no further documentation required for B#1.  Escalated to compliance for review for co-borrower to determine if a prior written VOE is required, will advise as soon as possible.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves

294

4356d7d5-52e0-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Credit

Missing VOR

Missing VOR reflecting 24 rental payment history with 0x30 late payments.

1/25/2017:  Audit has reviewed and determined that per Investor Guidelines, only 12 months most current rental history is required, which has been already provided in the original loan file located on page 287, therefore condition has been rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 787; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23.60 months reserves

278

439b5d81-90e9-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Missing Changed Circumstance form

LE dated 1/11/2017 has a loan amount of $X,XXX.XXX. Final CD reflects a loan amount of $X,XXX,XXX with no corresponding Change of Circumstance form in file.

02/08/17: Lender provided the COC reflecting  the increase in loan amount and added charge of .335% due to change in LTV. Condition cleared.

226

46ea99af-6bca-454a-9253-37b2ed532e75

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

Lender reported a credit of $145 to the Appraisal Fee in Section B; This should be reported only in Section J as a lender credit.

Borrower signed CD at consummation with cure.

02/08/17: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Loan will be graded a B. Condition cleared.02/06/16: CD showing cure in the file, however, on the final closing disclosure, under section B, appraisal fee reflects a ($175.00) fee paid to borrower. Any lender credits need to be reflected in section J as a lender credit. Please provide a letter of explanation to the borrower, and corrected CD within 60 days of closing. Condition maintained.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 714; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #35.30 months excess reserves; Years Self Employed Borrower self-employed 11 years

207

499eb2ab-5afd-4418-a8f4-86573716fc5a

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

Yes

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE's in the loan file did not reflect a Credit Report fee and no resulting CoC for any subsequent disclosures.  The final CD reflects a Credit Report fee of $50 resulting in a $50 refund due for cure.

12/28/2016:  Received post close CD reflecting the Credit Report fee as paid by others and not as paid by the borrower, therefore no cure is required. Loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.72%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 731; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 31 months reserves

280

4b1d0bbb-3c2f-4761-80bf-c56952410f73

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX.

01/19/17: Non material, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 786; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #29.80 months excess reserves

289

4bd3d6c8-ccd9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Credit

Missing hazard insurance declaration

The effective date of XX/XX/XXXX reflected on the hazard policy was after the Note date.

1/19/2017:  Audit has reviewed and determined that the subject is a refinance and the borrowers provided their current policy reflecting effective dates from XX/XX/XXXX-XX/XX/XXXX.  Since the policy expires within 60 days of closing, they also provided their renewal policy reflecting effective dates from XX/XX/XXXX-XX/XX/XXXX.  The initial and the renewal policy were both provided, therefore this condition is not valid as the initial policy was still in place and was not dated after the note date, therefore the condition has been rescinded.  01/13/2017:  Exception granted by client for properties located in CA when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.24; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 68.90 months reserves

207

4dea9084-8d45-4a0c-a659-902decd398e4

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

A Credit Report fee and Flood Certification fee in section B of the final Closing Disclosure reflect the incorrect service providers.  The Credit Report is paid to the Broker and not the actual service provider and the Flood Certification fee is paid to the incorrect provider reflected on the Flood Cert.  Please provide a LOE and confirmation to the borrowers.

12/28/2016:  Received post close CD reflecting the correct payees for the credit report and flood cert, along with a copy of the notification of error to the borrower, loan will be graded a B.  PLEASE NOTE:  Please see additional condition added requesting a copy of the refund check for overpayment of fees.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.72%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 731; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 31 months reserves

310

4fd8c5bc-460d-46f7-9ae8-4f3ed2435123

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

No Cure

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Missing evidence of borrower receipt of Initial Closing Disclosure 3 business days prior to consummation.  When factoring mailbox rule/resumed receipt, the timing requirement to consummation is not met.

2/10/2017:  Audit trail provided verifying borrowers e-consented the initial CD on XX/XX/XXXX, timing requirement met, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of  25.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  727; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  24.50 months reserves

227

50c43e04-7ee1-4745-a9b2-df3b4fc3b5f9

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Borrower not provided 3 day rescission period

The final closing disclosure reflects a disbursement date prior to expiration of right to cancel period. The 3 day rescission period was not provided.

1/25/2017:  CD from funding provided reflecting the disbursement as the day after the RTC expiration date, therefore the 3 day rescission period was provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of ; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.01%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #14.84 months excess reserves

214

51c283e8-4e76-42ea-88e5-887e04aa2058

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

Yes

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $525.00 with no resulting Change-of-Circumstance for any subsequent disclosures. The Final CD reflects an Appraisal Fee of $610.00.  These fees are in a 0% tolerance section. Lender tolerance cure of $95.00 is required.

01/20/2017:  The Final CD provided in the loan file reflects a tolerance cure of $95.00, which is sufficient.  Loan will be rated a B for Fitch and A for all other agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.68%; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 14.20 months reserves

314

52990c48-cae7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

General Compliance Exception

The Property Tax in section F is missing the taxing authority. The regulations that cover the disclosure of fees (1026.38(g)(1)) and 1026.38(g)(2)) require a payee to be listed. Please provide a letter of explanation to the borrower, and corrected CD within 60 days of consummation.

02/08/17: Lender provided the corrected within CD 60 days of consummation, LOE to the borrower, and evidence of mailing. Condition cleared. Loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 709; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 57.61%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #156 months excess reserves

289

5317e898-ccd9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Documentation

Executed Home Equity Line of Credit (HELOC) closure letter reflecting HELOC was frozen and closed was not provided in the file.

1/19/2017:  Executed HELOC closure letter provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.24; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 68.90 months reserves

220

537c376b-22d9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure once CD Issued

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for.

The WLSP in the loan file is missing the required verbiage to direct the borrower to refer to section C of the LE for the option of fee to SHOP FOR.

01/12/2016:  Audit calculated section C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B for all agencies.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves

285

5580d936-47c2-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Closing Disclosure document error

The final Closing Disclosure in the file, Section E, Transfer Tax, Section F Homeowner's Insurance and Property Tax is missing the payee. The name should be of the person/entity ultimately receiving the payment. Please provide a corrected CD, and LOE to the borrower. Additional conditions may apply.

12/23/2016:  Received post close CD reflecting the payees for the transfer tax, homeowners insurance, and property taxes, along with a copy of the notification of error, loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 724; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 75%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #7.39 months excess reserves

309

56c41fa9-3b54-47d5-aa98-cdafea90dc36

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Incorrect disclosure of Services Borrower DID NOT SHOP Fee - Section B

The Appraisal Fee in section B of the final Closing Disclosure reflects -150.00 paid at closing and $900.00 paid before closing.  Section B cannot reflect a negative amount.  Credit must be reflected in section J.  Please note that a letter of explanation to the borrower along with proof of delivery must also be issued.

2/2/2017:  Received updated CD reflecting the actual amount paid ($900) in Section B for the appraisal fee along with a copy of the notification of error to the borrower, loan will be graded a B.  2/1/2017:  Received copy of the CD from Funding which removed the negative (-$150) for the appraisal fee in section B, however the appraisal fee needs to be reflected as what the borrower actually paid POC, which was $900, not $750.   As it appears now, it looks like the borrower only paid $750 POC, and received $150 credit at closing, which would make the final appraisal cost $600.  Please provide updated CD along with a copy of the notification of error to the borrower.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #34.85 months excess reserves

292

575790d7-0cd9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Hazard Insurance Shortfall

The applicable underwriting guidelines required the subject property to be protected against loss from damage.  The hazard insurance coverage is insufficient. The hazard insurance declaration in file reflects $XXX,XXXX in dwelling coverage with 120% replacement cost ($XXX,XXX) for total coverage of $XXX,XXX.  The hazard policy does not reflect guaranteed replacement cost and a replacement cost estimator was not provided in the file.  The loan amount is $XXX,XXX and replacement cost new from the appraisal is $XXX,XXX which reflects a $XXX,XXX coverage shortfall.

1/16/2017:  Replacement cost estimator provided in the loan file from the property insurer, page 67, verifying replacement cost to be $XXX,XXX, which equals the dwelling coverage, therefore condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.56%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 744; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #5.9 months excess reserves

310

5821dcb5-4fea-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

Cured - Missing Doc Provided

Cured - Missing Doc Provided

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing Closing Disclosure / CD Not in File

Rescindable transactions require that the Closing Disclosure must be given separately to each consumer who has the right to rescind under TILA (see § 1026.23).  Missing the initial CD from the co-borrower and trust.  The initial CD in the loan file reflects the borrower's name and does not list the co-borrower or trust.

2/10/2017:  Audit trail provided verifying borrowers e-consented the initial CD on XX/XX/XXXX, timing requirement met, condition cleared.  (Please note:  per compliance, only actual individuals will get and sign CD's and not Trusts)

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of  25.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  727; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  24.50 months reserves

185

5880521b-3ac9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

1/4/2017:  Third party fraud report provided with all variances addressed, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves

282

5d27524d-6fd7-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Credit

Missing hazard insurance declaration

The hazard insurance declaration was effective as of XX/XX/XXXX which is dated after the Note.  Please provide a hazard insurance policy dated prior to the Note date.  Additional conditions may apply.

1/13/2017: Post close CD provided, verifying disbursement date was XX/XX/XXXX.  Investor is providing a blanket waiver for purchase transactions closed in the subject property State (California) where the effective date of the hazard insurance is after the Note date but on or prior to the transfer of funds date.  Final grade will be a B non-material on these waived exceptions.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 809; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 49.38%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with 2.17 months excess reserves

205

5d98e352-02ce-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Balance Sheet

Missing 2016 Balance Sheet for Borrower's Schedule C Sole Proprietorship.  Per appendix Q, both a Balance Sheet and a P&L statement are required; in order for the loan to be classified as a Qualified Mortgage.

1/20/2017:  Balance sheet provided. Statement reflects no liabilities that would effect the income used to qualify, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 27.68%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 66.40 months reserves

302

5dae9b2c-0ae7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing AUS results

File is missing the AUS results. Additional conditions may apply.

2/1/2017:  DU Findings provided reflecting approve/ineligible due to loan amount exceeds the maximum allowable loan limit, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.19%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 820; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.87 months excess reserves

226

5fe53147-ff8f-418e-9ecd-433e7a6f080e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically.

02/06/17: Lender provided the Borrower's and Co-Borrower's Consent to Receive Communications Electronically. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 714; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #35.30 months excess reserves; Years Self Employed Borrower self-employed 11 years

314

61431a53-04a9-4b43-8f70-5dc165d5a76f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

2

1

1

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

The Intent to Proceed in the file is not signed. Please provide documented intent to proceed for the borrower and co borrower. Additional conditions may apply.

02/08/17: Lender provided the borrower's documented intent to proceed. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 709; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 57.61%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #156 months excess reserves

185

63684fcb-39c9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing income documentation

Missing Trust Income Documentation for self-employed borrower with income payable to a trust; QM requires complete income documentation; additional conditions may apply.

1/10/2017: Per compliance, the trust documents are not required, no K-1 income was used to qualify other than the negative income, condition cleared. 1/5/2017:  Escalated to compliance for review, will advise as soon as possible.  1/4/2017:  Copy of a subordination agreement provided for the subject property, condition remains for a copy of the Trust Agreement reporting on the K-1's for 2015 and 2014 located on page 418 and 419 of the loan package.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves

282

63b48d92-88b9-4a12-a18d-dfbb9d6bae42

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $1,879.17 a month versus the calculated value of $1790.18; The lender used the incorrect amount of $191.67 for the Taxes versus the actual amount of $102.68

01/10/2016: CD Estimated Taxes, Insurance & Assessments section is a non-material grade B for difference of $88.99. Loan will be rated a 'B' for all agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 809; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 49.38%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with 2.17 months excess reserves

284

644bb5f4-3cbe-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Credit

General Credit Exception 2

Credit does not meet minimum 12 month history requirement for less than #3 open trade-lines per lender guidelines

01/10/2017 Exception granted by client based on strong compensating factors.Condition waived.  Final grade will be a "B".

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 128 months excess reserves

75

650310db-c8cb-4cb8-bd2c-3af242ef4afc

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. Provide E Consent disclosure for the borrower.

9/20/2016:  Borrower's Consent to Receive Communications Electronically provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves

291

65f8673d-5a65-48b1-a45d-2a84c4bc29b0

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Funding occurred before RTC Expiration Date

The RTC Expiration Date was XX/XX/XXXX and the final Closing Disclosure in the loan file reflect the disbursement date as the same date.  Please provide an updated CD with the correct disbursement date.

01/06/17: Lender provided the corrected CD 60 days of consummation, and LOE to the borrower. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 28.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 26.60 months reserves

291

660324a8-7bd3-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

TILA 130(b) - within 60 days of discovery

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

General Compliance Exception

The subject loan was funded in a dry funding state.  Final Settlement Statement in file indicates a cash to borrower of $X,XXX.XX vs. the final CD which reflects a cash to borrower of $X,XXX.XX with a discrepancy of $XX.XX.  Please provide Post Close CD and explanation of discrepancy.

01/06/17: Lender provided the corrected CD 60 days of consummation, and LOE to the borrower.Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 28.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 26.60 months reserves

220

682d7c38-53e2-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

Closing Disclosure document error

Condition added 1/24/2017:  Second appraisal fee not disclosed on CD.  Additional conditions may apply.

1/30/2017:  Post close CD provided reflecting the second appraisal along with the payee and the lender paid portion.  There was also a $75 cure required for the 2nd AMC fee that was not disclosed to the borrower.  Copy of the notification of error, copy of the $75 check to cure, and proof of delivery provided, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves

302

6857f69a-0ce7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

Cured - Missing Doc Provided

Cured - Missing Doc Provided

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing Closing Disclosure / CD Not in File

The file contains two signed CD's dated XX/XX/XXXX; The Closing Disclosure sections A through J of CD Pg6 time-stamped 2:29PM and CD Pg18 time-stamped 3:13PM match; However, the CD's reflect a variance in cash-to-close due to Pg1 adjustments variance with Pg6 CD reflecting $X,XXX.XX versus Pg8 CD reflecting $X,XXX.XX. Please provide copy of final CD.

2/1/2017:  The CD from consummation provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.19%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 820; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.87 months excess reserves

306

68878b8c-8fec-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Documentation

Evidence of Lender of Record Application Date is not provided in file.

2/9/2017:  Third Party Origination Letter provided, verifying the Lender received the loan package from the broker on 1/4/2017, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 65%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 74.70 months excess reserves

220

68e84926-22d9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Lease agreement

Per Appendix Q, both IRS Form 1040 Schedule E and a current lease/rental agreement are necessary to verify all consumer rental income in order for the loan to be classified as a Qualified Mortgage.  Missing active lease agreement for second, third and fourth properties listed on Schedule of Real Estate Owned.

02/14/17: Lender provided a revised LOE stating the tenants are still occupying the property now and prior to closing, and paying as agreed. Condition cleared. 02/07/17: The letter provided does not verify the tenants were still occupying the property prior to or at closing, this is required in order to be QM compliant.  Letter only verifies that the lease turned to a month to month. Condition maintained. 1/24/2017:  Received copy of current leases for properties #3 and #4, however, lease for property #2 expired on XX/XX/XXXX.  QM requires that rental income be documented through schedule E tax returns and current lease agreements.  This verification must be completed prior to closing, in order for the loan to be deemed QM compliant.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves

185

6c70782e-3cc9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Credit

Missing 4506-T

Missing final 4506-T at closing for all borrower and co-borrower self-employment business per application; Lender guidelines required a signed 4506T at application and at closing.

1/4/2017:  Condition waived per client based on business transcripts in the file pre-consummation. Executed 4506-T deemed as non- material.  Loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves

279

6f324939-27e3-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Credit

General Credit Exception

File is missing quit claim deed for non-vested spouse. Additional conditions may apply.

1/31/2017:  The Non Vested Spouse is not a borrower and therefore was not added to title, she did sign the DOT to perfect the community property verbiage but borrower did not want wife vested on title. Therefore, we would like to ask that this condition be re-considered and cleared if possible.

2/1/2017:  Audit has reviewed and determined that the non-borrowing spouse does not need to be on title.   Non-borrowing spouse did sign the deed of trust and the right to cancel, therefore condition is rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 30.79%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Years in Field Borrower has 16 years in the field.

309

70578d37-0ae4-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing 4506-T

Missing initial 4506-T; Per Lender guidelines; a signed 4506-T is required at application and at closing

2/1/2017:  copy of the initial signed 4506-T provided for the borrower, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #34.85 months excess reserves

226

71222327-641f-41f6-b342-ae28ca5ab20e

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

No Cure

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Missing evidence of borrower receipt of initial Closing Disclosure 3 business days prior to consummation. The initial CD is dated XX/XX/XXXX; when factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met. [Lender not open on Saturday]

02/07/17 Per TRID guides sec 1026.2(a)(6), the definition of a business day, for the receipt of the CD is all calendar days except Sunday. Lender provided evidence of receipt of initial CD, therefore, 3 day timing requirement met. Condition cleared. 02/06/17: Lender provided evidence of receipt of the initial closing disclosure date XX/XX/XXXX. The Initial Closing Disclosure Acknowledgement Date is not greater than or equal to 3 Specific Business Days to Note Date.  CD XX/XX/XXXX acknowledged XX/XX/XXXX, note date XX/XX/XXXX. XX/XX/XXXX Friday, (Closed Saturday), XX/XX/XXXX Monday, XX/XX/XXXX, Tuesday. Condition maintained.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 714; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #35.30 months excess reserves; Years Self Employed Borrower self-employed 11 years

75

724f9070-a57a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing YTD Profit & Loss

Missing 2015 and 2016 YTD Balance Sheet and Profit & Loss statements for borrower partnership (B).Missing 2015 and 2016 year-to-date Profit & Loss statement for borrower Trust reported per 1041; Documentation in file is illegible.

11/30/2016:  Received 2015 and YTD 2016 P&L and Balance Sheet for the limited partnership.  Statement reflects no liabilities that would effect the income used to qualify, condition cleared.   11/23/2016 Received 2015 and 2016 year-to-date Profit & Loss statement for the Trust, however still pending 2015 and 2016 YTD Balance Sheet and Profit & Loss statements for Limited Partnership. 11/17/2016: Received 2015 and 2016 year-to-date Profit & Loss statement for the Trust, however still pending 2015 and 2016 YTD Balance Sheet and Profit & Loss statements for Limited Partnership. 9/20/2016:  Received P&L and Balance Sheets for Business A, however still pending 2015 and 2016 YTD Balance Sheet and Profit & Loss statements for borrower partnership (B) and 2015 and 2016 year-to-date Profit & Loss statement for borrower Trust reported per 1041.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves

284

7377802f-3abe-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Executed Personal Tax Returns

Appendix Q, requires signed personal and business tax returns for self-employed borrowers. The tax returns in the file are not executed. Loan is considered non QM compliant, as proof that signed/dated return was in the lender’s possession at or before consummation, cannot be verified”.

01/5/17: Lender provided the 2014 and 2015 signed pages of the personal tax returns and the partnership, signed at closing. Signed pages of the 2014 and 2015 tax returns for the S Corp. already in the file. All required appendix Q documents obtained pre-consummation.  Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 128 months excess reserves

291

7464395f-78d3-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Verification of Taxes and Insurance amounts for Rental Property

Missing verification of taxes and insurance for the investment property listed on the Schedule of Real Estate Owned of the loan application. Additional conditions may apply.

01/06/17: Lender provided the mortgage statement for the investment property showing the tax and insurance impounded. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 28.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 26.60 months reserves

226

752fb516-b525-4f82-9463-f0eef15a61fc

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

Yes

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $475 with no resulting COC for any subsequent disclosures. The Final CD reflects an Appraisal fee of $620 resulting in a $145 refund due for cure.

02/01/2017:  A RESPA Appraisal fee charge cure on the final CD.  The loan will be rated a B for Fitch and A for others.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 714; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #35.30 months excess reserves; Years Self Employed Borrower self-employed 11 years

309

76287a0c-0be4-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Credit

Missing hazard insurance declaration

Missing hazard insurance declaration; The effective date of the hazard policy is dated XX/XX/XXXX which is after the Note Date.

01/26/2017:  Exception granted by client for properties located in property state when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 769; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #34.85 months excess reserves

214

76baaa52-752c-4bfb-a36e-c034d8a5e79f

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclosure for the borrower.

1/26/2017:  Copy of the e-consent for the borrower provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.68%; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 14.20 months reserves

75

77859bdf-a47a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing verbal verification of employment

Missing VVOE within 10 days prior to Note date for borrowers current employers (D) and (E).

11/17/2016:  Satisfactory VVOE's provided for both jobs dated within 10 days prior to the Note, condition cleared.  09/22/16: Per CPA letter in the file, the borrower does not have ownership interest in the employers (D) and (E). Please provide the VVOE provided 10 days prior to the note date. Condition maintained.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves

220

780de6ae-23d9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Missing Special Information Booklet / Home Loan Toolkit

The loan file is missing a copy of the Home Loan Tool Kit as evidence it was provided to the borrowers.

1/24/2017:  Evidence that the Home Loan Tool Kit was provided to the borrowers within 3 days of the initial application provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves

185

781bdec1-83ec-4f12-8d8c-b0a8eb3c9578

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Funding occurred before RTC Expiration Date

The final closing disclosure reflects a disbursement date prior to expiration of rescission period. The 3 day rescission period was not provided.

1/4/2017:  Copy of the CD from Funding provided reflecting a disbursement date of XX/XX/XXXX.  The 3 day rescission period was provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves

306

78cebf4a-8fec-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply

2/9/2017:  Third party fraud report provided with all variances addressed, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 65%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 74.70 months excess reserves

226

793e1c96-a4e8-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Not Likely

Yes

No Cure once CD Issued

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Written List of Service Providers not found or did not disclose at least one available provider for each service you can shop for.

Missing "Valid" WLSP. The WLSP in file does not refer to the language allowing the borrower to review fees you can shop for in section C of the LE.

02/01/2017:  Audit calculated section B and C fees and are within 10% tolerance for worst case scenario. Loan will be rated a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 714; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #35.30 months excess reserves; Years Self Employed Borrower self-employed 11 years

75

79d2573f-a57a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing W-2

Missing 2014 W2 for borrower employer (E); employment documentation reflects employment since 2005.

10/29/2016:  Audit has reviewed and determined that the 2014 W-2's were provided in the loan file (pgs 678-679) and coincide with the amount listed on line 7 of the 2014 1040 personal returns, no further documentation required, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves

313

79f1cd6f-3625-47d1-8af3-8582507948bc

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX.

1/30/2017:  Non-material, loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 28.48; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.82%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #33 months excess reserves

282

7b675aac-b9d6-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply

1/13/2017:  Third party fraud report provided with all variances addressed, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 809; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 49.38%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with 2.17 months excess reserves

284

7e16b734-3fbe-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing rate lock verification

Missing rate lock verification; initial rate lock expired prior to issuance of initial CD; HOEPA disclosure reflects new rate lock and reduction to discount points prior to closing on XX/XX/XXXX with revised discount points disclosure.

12/14/2016:  This loan was re-locked on XX/XX/XXXX.   The costs to the borrower were reduced and a revised lock agreement was not provided to show the final lock expiration date because the pricing was not affected more that .125%.

12/16/2016:  Per Compliance, when the rate lock expires, there is no requirement to re-disclose.  Only need to re-disclose if they relock and it triggers a new 3 day wait due to changes in APR by more than .125%, PPP added, or changes in loan terms.  In this case, none of these situations occurred, therefore condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 128 months excess reserves

301

8188eda7-4fe3-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing 4506-T

Missing initial 4506-T; Per Lender guidelines; a signed 4506-T is required at application and at closing.

1/31/2017:  Initial signed 4506-T for both borrowers provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.94%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 742; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #105 months excess reserves

185

827bfc53-3ac9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing W-2

Missing W2 for primary borrower from employer #1: QM Requires complete income documentation;  Additional conditions may apply.

1/4/2017:  W2 for 2015 for primary borrower from employer #1 provided, condition cleared.  (please note:  borrower did not work for this employer in 2014, therefore only 2015 was required and provided)

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves

292

83d4ca04-acd9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Cleared

A

A

VA

A

A

Property

General Property Exception 1

Appraisal report reflects the subject address incorrectly; Please provide revised appraisal with corrected subject address.

1/24/2017:  Updated appraisal report provided reflecting the correct property address, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.56%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 744; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #5.9 months excess reserves

291

84ee2590-32d4-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

General Credit Exception 2

Per the loan application, the borrower is a party to a lawsuit, investor approval of loan due to lawsuit is required. LOE in the file from borrower's attorney confirms details of the lawsuit, time line and potential outcome if the case is ruled in favor of the plaintiff. Additional conditions may apply.

1/11/2017:  Audit has reviewed and determined that per the 1003, this borrower is a party to a law suit.   The attorney has provided a letter of explanation and also goes on to mention that any settlement or award to the plaintiff would be within the borrowers insurance policy limits.  No  issue found that would pose a threat to the borrower’s ability to repay, therefore condition cleared.  01/06/17: Currently under review.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 28.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 26.60 months reserves

214

85087471-95de-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Credit

Missing verbal verification of employment

The VVOE was not obtained within 10 days of note date and prior to date of closing.

2/13/2017:  Compliance has reviewed and determined that two years of employment verification was provided prior to consummation, therefore QM requirements were met and all required documentation was provided pre-consummation. Written verification of employment dated 39 days prior to note date in file pre-consummation verified current ongoing employment, but it was outside of client's 10 day requirement. Client approved exception for the VVOE that was obtained after the note date, but on the disbursement date, this is considered non-material and the loan will be graded a B.   1/31/2017:  VVOE dated after note date, but on the disbursement date, loan will be graded a B.  1/27/2017:  VVOE along with a LOE provided, however lender will need to submit an exception request to investor for approval due to VVOE that is in file is dated after the Note date and the printout from the 3rd party vendor dated XX/XX/XXXX is not available.   1/26/2017:  Lender provided the VVOE, however is dated after the Note date.   Per the investor guidelines, the 10 business day time from is measured from the date of the request to the third party vendor, not the date the information was updated in the vendor's database, condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.68%; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 14.20 months reserves

313

8841001e-bbe4-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Documentation

Missing lender income analysis; Per lender guidelines Pg125; All loans files must contain an income analysis, which may be supplemented with the use of tools such as Fannie Mae’s Comparative Income Analysis (Form 1088), Cash Flow Analysis (Form 1084)

02/08/17: Lender provided the income analysis. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 28.48; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.82%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #33 months excess reserves

277

88bb2392-67c1-e611-86eb-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Third Party Fraud Tool Supporting Documentation

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply. Please note that a letter of explanation to the borrower must also be issued.

12/21/2016:  Third party fraud report provided with all variances addressed, condition cleared.

CLTV is lower than guideline maximum : UW Guides maximum CLTV of 75%, loan qualified with CLTV of 62.49%; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies 82 months total payment history with no late payments reported; Years on Job Borrower has 30 years in Field  per 1003

302

8923abf5-3265-4e2d-a100-8a5bd9289564

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

The Final CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $X.XX.

01/30/17: Non Material. Loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.19%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 820; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.87 months excess reserves

273

8a4b125d-1adc-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

TILA 130(b) - within 60 days of discovery

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

General Compliance Exception

The subject was funded in a dry funding state. Final settlement statement in file indicates a cash-to-borrower of $XX,XXX.XX versus the Final CD which reflects a cash-to-borrower of $XX,XXX.XX for a discrepancy of $X,XXX.XX. No revised funding CD was provided.

1/20/2017:  Final CD from disbursement provided, which coincides with the final settlement statement, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.03%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 801; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #5 months excess reserves

207

8a6e7064-b3c7-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Evidence of HELOC Draw for the Past 12 Months

The subject loan is a rate/term refinance and is missing the past 12 months of draws for the HELOC.  Additional conditions may apply.

12/28/2016:  The most recent 12 month draw history provided, verifying no draws in the past 12 months were made, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.72%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 731; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 31 months reserves

290

8ac401d1-7ed3-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Cleared

A

A

VA

A

A

Property

570 - Review Appraisal Missing

A CDA report was not provided in file.

1/19/2017:  CDA report reflecting a value of $X,XXX,XXX with a -6.9% variance provided. No market or eligibility issues noted and is within the permitted 10% tolerance.  Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 737; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #18.78 months excess reserves

227

8bc0ce5a-58de-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Credit

Missing Documentation

Missing Flood Notice To Borrower of Special Flood Hazard and Federal Disaster Assistance Disclosure.Flood certification missing although URAR indicates Zone X

1/25/2017:  Flood Cert provided, verifying subject property is not located in a Flood Zone, condition rescinded.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of ; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.01%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #14.84 months excess reserves

185

8d2ffa0a-3bc9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Balance Sheet

Missing Balance sheet for co-borrower self-employed business #3 reflecting corrected year-to-date 2016 period; documentation in file reflects XX/XX/XXXX through XX/XX/XXXX per pg411 and XX/XX/XXXX through XX/XX/XXXX per pg414; QM required current year-to-date balance sheet; Additional conditions may apply.

1/4/2017:  Audit has reviewed and determined that the Balance Sheet that was provided on page 414-415, reflects an as of date of XX/XX/XXXX, which is current and dated within 90 days of closing, no further documentation required, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves

294

8feee293-52e0-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing final application (1003)

Final signed application was not provided in the file.

1/25/2017:  Final signed application provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.75%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 787; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 23.60 months reserves

314

90281446-32e7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing income documentation

Missing YTD paystub dated within 90 days of Note date; Stub in file is dated XX/XX/XXXX and expired.

2/9/2017:  YTD paystub dated within 90 days of the Note date provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 709; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 57.61%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #156 months excess reserves

207

9274e4de-35cd-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

General Compliance Exception

Condition added 12/28/2016:  Received post close CD reflecting the borrower was only required to bring $XXX.XX to closing, however borrower brought $XXX.XX2 per wire transfer to title company located on page 376.   File did not contain a copy of the refund check for $XXX.XX back to the borrowers for overpayment, please provide.

1/4/2017:  Copy of post close CD provided reflecting a $XX.XX refund of the credit report to the borrower, along with a copy of the notification of error, copy of check, and proof of delivery.  Also provide are copies of the refund checks to the borrower for $XX.XX and $XXX.XX which totals the $XXX.XX, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.72%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 731; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 31 months reserves

207

9368d481-b2c7-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Credit

Missing 4506-T

Missing the initial 4506-T's for the borrowers.  The initial 4506-T's in the loan file are dated XX/XX/XXXX which is after the initial loan application date.

12/28/2016:  Audit has reviewed and determined that the Broker application date was XX/XX/XXXX.  An initial signed 4506-T dated XX/XX/XXXX was provided for both borrowers.  Broker gave the loan package to the Lender on XX/XX/XXXX, at which time the borrowers signed another 4506-T dated XX/XX/XXXX.  Investor guidelines require a signed 4506-T during the application process must be provided along with a signed 4506-T at closing.  Borrowers have met this requirement, therefore condition is rescinded due to the fact the information was provided in the initial loan file.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.72%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 731; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 31 months reserves

314

93ae7da1-cae7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Rescind

A

A

CA

A

A

Credit

Missing Documentation

HELOC closure letter in the file is not signed.  Please provide a signed executed document in the loan file stating that the HELOC has been closed.  Additional conditions may apply.

2/9/2017:  Audit has reviewed and determined that per the credit report, page 204, this HELOC was already reporting as a closed account, therefore a signed closure letter is not required, condition rescinded.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 709; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 57.61%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #156 months excess reserves

302

93c04f40-0ae7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Incomplete Documentation

Page 5 of final loan application is missing. Additional conditions may apply.

2/1/2017:  Page 5 of the final loan application provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.19%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 820; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.87 months excess reserves

280

9689fc5a-2b51-41eb-b510-aa873ea549cf

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Yes, Potentially

Yes

No Cure

No Cure

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Initial LE not provided within 3 standard business days of application

The initial LE is dated XX/XX/XXXX and the application date is XX/XX/XXXX.  Missing evidence of borrower receiving the initial LE 3 business days of application.

1/26/2017:  Audit has reviewed and determined that the Lenders Application date was XX/XX/XXXX per page 252.  The Lender did provide the initial documents with 3 days of the Lenders Application date, therefore condition is rescinded.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.46%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 786; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #29.80 months excess reserves

279

974efa7e-27e3-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing copy of title

Missing copy of the title, equal to the loan amount. Title in file does not reflect the correct amount of the insurance. Lender requires that initial title report correctly reflects the information that will ultimately be on the title policy. Additional conditions may apply.

02/07/17: Lender provided a copy of the title commitment showing $XXX,XXX. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 30.79%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Years in Field Borrower has 16 years in the field.

286

992bc3ad-0b02-4286-8bc9-6f2dcdac4413

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

Yes

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflected a Credit Report Fee of $49.00 and no Closing Coordination Fee or Document Prep Fee and there was no resulting CoC for any subsequent disclosures.  The final CD reflects a Credit Report Fee of $50.00, Closing Coordination Fee of $195.00 and Document Prep Fee of $125.00.  These fees are in a 0% tolerance section. Lender tolerance cure of $321.00 is required.

01/31/2017:  The Final CD provided in the loan file reflects a tolerance cure of $321.00, which is sufficient.  Loan will be rated a B for Fitch and A for others.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.76%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #50 months excess reserves

207

9a2cdd47-b2c7-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

1/4/2017:  Property profile reports provided verifying borrowers have no ownership in the properties in question, condition cleared.  12/28/2016:  Third party fraud report provided, however there are 2 properties appearing on page 26 and page 31 that states the borrowers may currently own and are not appearing on the Real Estate Owned section of the application, please clarify.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.72%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 731; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 31 months reserves

302

9af4be68-0be7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

TILA 130(b) - within 60 days of discovery

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

General Compliance Exception

The subject was funded in a dry funding state. Final settlement statement in file indicates a cash-to-close of $XXX,XXX.XX versus the Final CD which reflects a cash-to-close of $XXX,XXX.XX with a discrepancy of $XXX.XX. The file did not contain a copy of the refund provided to the consumer(s); Evidence of refund includes copy of check to borrower, letter of explanation, and copy of shipping label

2/2/2017:  Lender provided a copy of the Final Settlement Statement, which now coincides with the CD from Funding, condition cleared. 2/1/2017:  Final settlement statement in file indicates a cash-to-close of $XXX,XXX.XX versus the Final CD that was provided which reflects a cash-to-close of $XXX,XXX.XX with a discrepancy of $XX35, please clarify.  Per the settlement statement the recording fee for the mortgage was listed as $XXX vs. final CD lists the recording fee for the mortgage as $XXX.  Please provide either an updated CD along with a copy of the notification of error or an updated final settlement statement.  The cash to close must be the same on both.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.19%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 820; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.87 months excess reserves

306

9b32e2f1-77df-49c0-a259-3d0b637394d7

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

Yes

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The LE dated XX/XX/XXXX reflects an Appraisal Fee of $625.00 with no resulting COC for any subsequent disclosures. The final CD reflects an Appraisal Fee of $745.00.  These fees are in a 0% tolerance section. Lender tolerance cure of $120.00 is required.

02/06/2017:  The Final CD provided in the loan file reflects a tolerance cure of $120.00, which is sufficient.  Loan will be rated a B for Fitch and A for all other agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 65%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 74.70 months excess reserves

220

9b35fcae-12d9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing final application (1003)

Missing the final loan application (1003).  Additional conditions may apply.

1/24/2017:  Final 1003 provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves

306

9c25127b-7331-429e-84b4-78d04abb2de1

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. The loan file contains a E Consent however; it is dated the same date of the Note. Please provide E Consent disclosure prior to the Note date for the borrowers.

2/13/2017:  Signed e-consent dated on/or prior to XX/XX/XXXX, condition cleared.  2/9/2017:  Lender provided the executed E Consent forms, however, is dated at closing. Please provide signed E Consent disclosures dated prior to or on XX/XX/XXXX, as e-signed documents dated this date were provided in the loan file.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 65%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 74.70 months excess reserves

214

9c6434e4-8cde-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

General Credit Exception

Lender did not provide an ATR/QM status determination supporting Pass status for QM Safe Harbor qualification.

1/27/2017:  QM status provided, condition cleared. 1/26/2017:  Compliance report not attached, nor was it provided in the loan file, condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.68%; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 14.20 months reserves

75

9dd9493f-2e7a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing rate lock verification

Missing rate lock for change in program and rate per XX/XX/XXXX CD

10/28/2016:  This was not required by us because the revised CD with the Change of Circumstance form provided the new rate lock information.

10/31/2016:  Discussed with Team Lead, and since we have a copy of the COC going from an ARM to a Fixed Rate with the new terms outlined on the COC, and was re-disclosed within 3 days of the COC, this is sufficient, condition cleared.  10/28/2016:  Rate lock was not attached, only CD from XX/XX/XXXX and notification of error, condition remains for copy of rate lock for the fixed rate.  9/20/2016:  Copy of COC provided, however still pending copy of rate lock for the fixed rate on XX/XX/XXXX.  (only the ARM lock was provide in the loan file)

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves

285

9f80ed61-40c2-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

Cured - Missing Doc Provided

Cured - Missing Doc Provided

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Revised CD timing requirements not met for change in Loan Product (3 days before consummation)

Missing evidence of borrower receipt of initial Closing Disclosure 3 business days prior to consummation.  When factoring mailbox rule/presumed receipt, the timing requirement to consummation is not met.  The loan file contains a tracking disclosure however; it does not reflect the name of the document sent to the borrowers.

12/23/2016:  Lender provided a copy of the eDisclosure History verifying borrowers eConsented the Initial CD documents 3 days prior to consummation, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 724; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 75%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #7.39 months excess reserves

279

a0893d59-0ae4-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

Cured - Missing Doc Provided

No Cure

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Initial Closing Disclosure timing requirement not met

Rescindable transactions require that the Closing Disclosure must be given separately to each consumer who has the right to rescind under TILA (see § 1026.23).  There is no evidence in the file that the Initial CD was acknowledged by the non-borrowing spouse.

2/1/2017:  Copy of initial CD provided showing non-borrowing spouse wet signature on XX/XX/XXXX, which is within 3 days of consummation, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 30.79%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Years in Field Borrower has 16 years in the field.

289

a0cc5f1b-bc0a-4a57-8a05-05485a0e9f47

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Funding occurred before RTC Expiration Date

Final Closing Disclosure shows disbursement date of XX/XX/XXXX, which was prior to the expiration of midnight, XX/XX/XXXX.

1/17/2017: Subject located in a dry closing state.  Received copy of the final CD from Disbursement verifying the disbursement was XX/XX/XXXX, which was after the RTC expiration date, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.24; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 68.90 months reserves

227

a0dff290-68de-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing verbal verification of employment

Missing verbal verification of employment for self-employed borrower business #1 per final application. Additional conditions may apply.

1/25/2017:  Satisfactory VVOE for borrower provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of ; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.01%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #14.84 months excess reserves

220

a332f666-1409-4ce5-8d57-91fdddb7941c

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

Condition added 1/24/2017:  The CD dated (XX/XX/XXXX) reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX, an over-disclosure of $XX.XX.

1/24/2017:  Over-disclosure of TOP is non-material, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves

279

a381e380-28e3-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Hazard Insurance Shortfall

Hazard insurance declaration reflects replacement cost coverage limit of $380,000 @ 125% with the note reflecting $XXX,XXX for a shortfall of $XXX,XXX; No replacement cost estimate was provided by the insurer. Please provide the insurer's replacement cost estimate showing sufficient coverage. Additional condition may apply.

2/1/2017:  Cost to rebuild from insurer provided, verifying sufficient coverage was provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 30.79%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 785; Years in Field Borrower has 16 years in the field.

284

a558dae2-eca8-4a55-b4a5-e3b39e2da1c7

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

3

2

B

B

RB

B

B

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure lists the Estimated Taxes, Insurance and Assessments as $240.10 a month versus the calculated value of $611.25. The lender did not include Hazard Insurance of $65.66 and used $95.09 for the Taxes versus the Estimated amount of property taxes of $384.59 for recent construction per file email.

1/24/2017:  Audit has reviewed and determined this condition should have been cleared post close with a grade of a B.  12/30/16: Lender provided the corrected CD within 60 days of consummation, and LOE to the borrower. Condition cleared.12/23/2016:  Audit has reviewed and determined the calculated value should be $595.25. ($384.59 taxes + $65.66 Ins + $145 HOA = $595.25). Also please make sure the box is check off for the homeowners insurance and “no” for escrow. An updated CD and copy of the notification of error is required.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 128 months excess reserves

310

ad17eb55-4dea-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing 1008 or Underwriter Approval

Missing the lender's Uniform Underwriting Transmittal and Summary (1008).

2/10/2017:  Lender's 1008 provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of  25.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  727; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  24.50 months reserves

290

adb663bd-86a6-443c-a9e4-ffc79ed35e9a

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

2

3

2

B

B

RB

B

B

TRID

Estimated Taxes, Insurance & Assessments on Closing Disclosure not reflected accurately

The final Closing Disclosure indicates the Estimated Taxes, Insurance and Assessments as $407.22 a month versus the calculated value of $1853.23; The lender used the incorrect amount of $206.39 for the Taxes [land-only] versus the actual amount of $1652.40 on completed new construction.

1/18/2017:  Post close CD provided reflecting the calculated value of $1853.23, along with a copy of the notification of error.  Loan will be graded a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 737; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #18.78 months excess reserves

227

ae24190d-cddd-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Failure to obtain Flood Certificate

Flood Certificate was missing from the file. Additional conditions may apply.

1/25/2017:  Flood Certificate provided reflecting subject is not located in a Flood Zone, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of ; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.01%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #14.84 months excess reserves

310

af90feb5-4cea-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Hazard Insurance Shortfall

The applicable underwriting guidelines required the subject property to be protected against loss from damage.  The hazard insurance coverage is insufficient. The hazard insurance declaration in file reflects $XXX,XXX in dwelling coverage with 125% replacement cost ($XXX,XXX) for total coverage of $XXX,XXX.  The hazard policy does not reflect guaranteed replacement cost and a replacement cost estimator was not provided in the file.  The loan amount is $XXX,XXX.  Please provide evidence of sufficient coverage. Additional conditions may apply.

2/10/2017:  Replacement Cost Estimator provided from the insurer verifying borrowers have sufficient coverage, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of  25.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  727; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  24.50 months reserves

198

b091496f-fdd1-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing 4506-T

Missing initial 4506-T; Per Lender guidelines, a signed 4506-T is required at application and at closing; Final 4506-T in file.

1/10/2017:  Initial signed 4506-T provided for both borrowers, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 766; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23.71%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #406 months excess reserves

302

b20cc316-4ee7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

130(b)

Yes

3

3

2

B

B

RB

B

B

TRID

General Compliance Exception 2

The final CD, in section H under Title-Owner’s Title Insurance, is missing the word "Optional".  Since it is a premium related to the issuance of the owners title insurance it should have the parenthetical description “(optional)” at the end of the cost label.

2/1/2017:  post close CD provided listing the words "(optional)" in parentheses along a copy of the notification of error to the borrower, loan will be graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.19%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 820; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.87 months excess reserves

286

b2c598ad-efe7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Documentation

Lender did not provide an ATR/QM status determination supporting Pass status for QM Safe Harbor qualification.

02/08/17: Lender provided the report showing QM Safe Harbour. Condition cleared. 02/06/17: Lender provided the report, however does not provide the QM Safe Harbour status determination. Condition maintained.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 704; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 64.76%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #50 months excess reserves

285

b49c3c07-3dc2-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing Closing Disclosure / CD Not in File

The seller's Closing Disclosure is missing from the file.

12/23/2016:  Seller CD provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 724; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 75%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #7.39 months excess reserves

285

b5dfa2c7-3cc2-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Documentation

Missing lender cash flow analysis; guidelines require a cash flow analysis for use of business funds

12/23/2016:  Cash flow analysis provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 724; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 75%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #7.39 months excess reserves

227

b9d72fdd-5ede-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

TILA 130(b) - within 60 days of discovery

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

General Compliance Exception

The subject was funded in a dry funding state. Final settlement statement in file indicates a cash-to-borrower of $XXX.XX versus the Final CD which reflects a cash-to-close of $XXX.XX with a discrepancy of $XXX.XX. The file did not contain a copy of the refund provided to the consumer(s); Evidence of refund includes copy of check to borrower, letter of explanation, and copy of shipping label

1/25/2017: CD from funding provided (subject located in a dry state) reflecting the cash back to the borrower as $XXX.XX which coincides with the final settlement statement, no further documentation required, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of ; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.01%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #14.84 months excess reserves

284

ba0fa9f2-2e0b-49c8-84c9-481f73f58fc7

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Ability to Repay Non-Compliant:  Credit History does not meet guideline requirements

9 months Mortgage history. No active or open trade lines.

01/10/2017 Exception granted by client based on strong compensating factors. ATR condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 128 months excess reserves

299

bb09f399-36ee-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing verbal verification of employment

VVOE for the Co-Borrower dated within 10 business days prior to the Note date was not provided.

02/14/17: Lender provided the VVOE for the co borrower dated within 10 days of the note date. This is in compliance with the lender guidelines and QM. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.54%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require # months Subject reserves, loan qualified with 41.80 months reserves

226

bc2f6914-a3e8-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Third Party Fraud Tool (Report)

The file is missing a complete third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Document in file is incomplete with missing pages. Additional conditions may apply

02/07/17: Lender provided the complete fraud tool. No outstanding issues noted. Condition cleared. 02/06/17: Lender provided the first page of the third party fraud tool. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Document in file is incomplete with missing pages. Additional conditions may apply. Condition maintained.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 714; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #35.30 months excess reserves; Years Self Employed Borrower self-employed 11 years

220

be75c467-20d9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

B

B

CB

B

B

Credit

Missing 4506-T

Missing the final executed 4506-T for the borrower's primary business listed on his initial loan application and the final executed 4506-T's for businesses 1, 2 and 3 listed on the form 8582, Worksheet 3.

1/24/2017:  Signed 4506-T provided for Businesses 1, 2, and 3, however dated post close.  Signed 4506-T is not an appendix Q requirement. Pre-consummation docs in file include paystubs, verbal verification of employment, last 2 years W-2s, last 2 years business tax returns and personal tax returns. All appendix Q requirements were met. Loan will be graded a B for lender guideline variance.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves

75

beed3ed2-a47a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Trust Documentation

Missing Trust Documents supporting borrower Trust Returns (C)

10/28/2016:  Copy of trust documents provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves

226

bfa0a4bc-a4e8-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

No

No

No

No

No Cure once CD Issued

N/A

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Loan Estimate document error

The LE dated XX/XX/XXXX is missing the lenders phone number and/or email address.

02/01/2017:  This is a non-material issue. Information is on CD.  The loan will be rated a B.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 714; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #35.30 months excess reserves; Years Self Employed Borrower self-employed 11 years

75

c06e432c-a87a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Hazard Insurance Shortfall

Hazard insurance declaration reflects non-replacement cost coverage limit of $XXX,XXX with Note reflecting $XXX,XXX for a shortfall of $XXX,XXX; No replacement cost estimate is provided by the insurer. Please provide evidence of insurer replacement cost estimate of $XXX,XXX

09/22/16: Lender provided the replacement cost estimator for the subject property showing sufficient coverage. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves

214

c1e09569-7ede-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing asset documentation

Missing proof of deposit of $XX,XXX gift funds to borrower account.

1/26/2017:  Evidence of receipt of the $XX,XXX gift provided.   Please note, this amount was applied to the borrowers 401K loan.  Assets have been updated accordingly, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 32.68%; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 66%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 14.20 months reserves

285

c28fff14-3dc2-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

Cured - Missing Doc Provided

Cured - Missing Doc Provided

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing Documentation

Missing funding Closing Disclosure; Closing wire of $XXX,XXX.XX differs from cash-to-close per final CD of $XXX,XXX.XX

12/23/2016:  CD from funding provided which matches the cash to close from the wire, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 724; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 75%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #7.39 months excess reserves

185

c3009092-39c9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Trust Documentation

Missing Trust Documentation or certification of irrevocable trust for property vested in name of trust; additional conditions may apply

1/10/2017: Per compliance, the trust documents are not required, no K-1 income was used to qualify other than the negative income, condition cleared.   1/5/2017:  Escalated to compliance for review, will advise as soon as possible.  1/4/2017:  Copy of a subordination agreement provided for the subject property, condition remains for a copy of the Trust Agreement reporting on the K-1's for 2015 and 2014 located on page 418 and 419 of the loan package.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves

310

c483ca36-283a-417f-98bf-89ad1bdc70d0

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

2

1

1

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Missing the Borrower's Acknowledgement of Intent to Proceed.  Provide Intent to Proceed by the borrowers.

2/10/2017:  Borrowers Intent to Proceed dated XX/XX/XXXX provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of  25.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  727; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  24.50 months reserves

220

c70d0b74-e3ec-429e-aad4-93867349df8d

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Missing Mortgage

Missing the Mortgage/Deed of Trust.  Additional conditions may apply.

1/24/2017:  Copy of the Deed of Trust provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves

302

ca2f4f7d-0ae7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing 4506-T

Missing initial 4506-T; Per lender guidelines; a signed 4506-T is required at application and at closing. Additional conditions may apply.

2/1/2017:  Initial Signed 4506-T provided for the borrower, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.19%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 820; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.87 months excess reserves

301

cd3753bb-b543-495e-a305-e56e28482b01

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Missing Special Information Booklet / Home Loan Toolkit

Missing Home Loan Toolkit and evidence of issuance within 3 days of application.

1/31/2017:  Evidence the Home Loan Toolkit was provided within 3 days of the initial application date provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.94%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 742; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #105 months excess reserves

302

cf6e3cb2-0ae7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Credit

Missing hazard insurance declaration

Missing hazard insurance declaration; The effective date of the hazard policy is dated XX/XX/XXXX which is after the Note Date in an escrow state.

01/30/17 Exception granted by client for properties located in the subject State when the effective date of the insurance is after the closing date but on or prior to the disbursement date. Final grade will be a "B" for all agencies

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.19%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 820; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.87 months excess reserves

284

cff883b7-3cbe-e611-9869-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Acknowledged

B

B(w)

CB

B

B

Credit

General Credit Exception

Credit does not meet minimum #3 open trade-line requirement for mortgage history less than 12 months per lender guidelines

01/10/2017 Exception granted by client based on strong compensating factors. Condition waived. Final grade will be a "B".

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 128 months excess reserves

278

d30f25f1-0227-4ce1-9438-acd139cf1b02

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Lender Credits on Final Closing Disclosure at closing is inaccurate in relation to previous Initial disclosure(s)

LE Lender credits are $1693. CD credits are 0 (LE is based on $X,XXX,XXX @ X.XX%. CD is $X,XXX,XXX @ X.XX%).

02/08/17: Lender provided the COC reflecting a rate change to X.XX and added charge of .335% due to change in LTV. Condition cleared.

185

d47910e3-0f69-45fb-bccb-21ad229bad35

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclose for the borrowers.  Initial CD for both borrowers was e-signed on XX/XX/XXXX, however the E-Consent Disclosures provided in the file were not given until XX/XX/XXXX.  Provide evidence that consent was given by both borrowers to receive disclosures electronically prior to e-signatures.

1/4/2017:  Evidence provided that borrowers e-consented on XX/XX/XXXX, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves

220

d53dbf90-7f5a-4cf6-a62c-aa4655511055

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Missing Note

Missing the Note from the loan file.  Additional conditions may apply.

1/24/2017:  Copy of the Note provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 33.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 784; Reserves are higher than guideline minimum UW Guides require 12 months reserves, loan qualified with 19.10 months reserves

290

d553e686-79d3-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Rescind

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(iv) - Clerical Errors: Reg Z Non-Numeric Clerical error Cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

N/A

N/A

3

1

1

A

A

RA

A

A

TRID

Closing Disclosure document error

The Principal Reduction in Section H of the final Closing Disclosure should be reflected in the Payoffs and Payments section on page three of the Closing Disclosure.

01/23/17: Upon further review, principal reduction can be in section H. Condition rescinded. 1/19/2017:  Post close CD provided reflecting the principal reduction in the correct section of the CD, however the notification of error addressed to the borrower does not reflect this change that was made.   Please provide a copy of the updated notification of error regarding the movement for the principal reduction.   1/18/2017:  Escalated to compliance for review, will advise as soon as possible.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 737; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 70%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #18.78 months excess reserves

299

d561bdac-0c44-40f1-ad67-a3aae177dca8

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Provide an executed copy of the Consent to Receive Communications Electronically, (E Consent) disclosure for the borrower & co-borrower.

02/14/17: Lender provided evidence of the borrower’s consent to receive documents electronically. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 34.54%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 723; Reserves are higher than guideline minimum UW Guides require # months Subject reserves, loan qualified with 41.80 months reserves

306

d6118c3f-a7ec-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes

Yes

No Cure

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Borrower did not receive initial C.D. 3 days prior to consummation or did not acknowledge receipt of initial C.D. 3 days prior to consummation (Mailbox Rule)

Rescindable transactions require that the Closing Disclosure must be given separately to each consumer who has the right to rescind under TILA (see § 1026.23).  Although the Initial CD dated 0XX/XX/XXXX was mailed to the borrower, there is no evidence that a separate Initial CD was mailed to the co-borrower.

2/9/2017:  Lender provided a copy of their audit trail, verifying both the borrower and the co-borrower were each provided an initial closing disclosure, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 763; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 65%; Reserves are higher than guideline minimum UW Guides require 9 months Subject reserves, loan qualified with 74.70 months excess reserves

301

d7356789-54d5-401b-8360-ed68e1445fdf

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

2

1

1

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Provide an executed copy of the Intent to Proceed disclosure for the borrower.

1/31/2017:  Copy of the intent to proceed dated XX/XX/XXXX provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.94%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 742; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #105 months excess reserves

313

da1f5761-bbe4-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing income documentation

Missing year to date pay stub from period XX/XX/XXXX To XX/XX/XXXX; Pay stubs in file do not match reported monthly salary per employer letter.

02/07/17: Lender provided LOE from CFO of borrower's company explaining monthly pay schedule. Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 28.48; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 59.82%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #33 months excess reserves

291

dac9d403-7ad3-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

General Credit Exception

Executed Home Equity Line of Credit (HELOC) closure letter reflecting HELOC was closed was not provided in the file.

1/13/2016:  Fully executed closure letter provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 28.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 26.60 months reserves

310

ddc6b740-4dea-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply.

2/10/2017:  Third party fraud report provided with all variances addressed, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of  25.76%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of  727; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with  24.50 months reserves

291

dfde81a0-78d3-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Documentation

Missing the mortgage statement of the investment property listed on the Schedule of Real Estate Owned of the loan application to verify the mortgage payment from the credit report in file.  Additional conditions may apply.

01/06/17: Lender provided the mortgage statement for the investment property showing the tax and insurance impounded. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 28.89%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 755; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 26.60 months reserves

185

e23ec970-3cc9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

General Credit Exception

Missing LOX explaining employment for co-borrower employer #3; Additional conditions may apply.

1/4/2017:  Audit has reviewed and determined that no income for the co-borrower was used to qualify from employer #3.  Please note that the letter provided on page 295, verifies that the co-borrower is in good standing with the facility, no further documentation required, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 796; LTV is lower than guideline maximum UW Guides require 75% LTV, loan qualified with LTV of 23%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 43.30 months reserves

282

e3e8f4e4-201d-41cd-a74c-38a5b9e545ba

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

1026.19(f)(2)(v) - Tolerance Error:  Tolerance cure within 60 days of consummation

TILA 130(b) - within 60 days of discovery

19(f)

Yes

3

2

2

A

B

RA

A

A

TRID

Services Borrower DID NOT SHOP Fee - Section B on C.D. exceeds LE Fee (0% Variance) - not supported by C.O.C.

The CD dated XX/XX/XXXX reflects an Appraisal fee of $1,500.00 with no resulting COC for any subsequent disclosures. The initial CD dated XX/XX/XXXX and Final CD reflects an Appraisal Fee of $1,575.00 resulting in a $75 refund due for cure.

01/10/2017:  A RESPA Appraisal Fee charge cure noted on the final CD.  Condition cleared.  The loan will be rated a B for Fitch and A for all other agencies.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 809; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 49.38%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with 2.17 months excess reserves

288

e4ce517b-28c9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

2

1

1

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Provide an executed copy of the Intent to Proceed disclosure for the borrower.

12/30/16: Lender provided the borrower's documented intent to proceed. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.63%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 58.60 months reserves; Years on Job Borrower has 20 years on job

302

e860ac4f-51e7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing verbal verification of employment

The verbal verification of employment (VVOE) or employment re-verification must be performed within 10 business days prior to the Note date for a salaried applicant. Additional conditions may apply.

2/1/2017:  Lender provided the VVOE dated within 10 days prior to the Note date, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.19%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 820; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #4.87 months excess reserves

289

e97e7f7a-b2d9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing final application (1003)

Final loan application (1003) was not provided in the loan file.

1/19/2017:  Final executed application (1003) provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 40%, loan qualified with DTI of 38.24; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 728; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 68.90 months reserves

285

ea506ba6-40c2-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Yes, Potentially

Yes

Cured - Missing Doc Provided

Not Applicable

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Revised LE provision timing requirement to consummation not met

The re-disclosed LE reflects a Date issued of XX/XX/XXXX. Mailbox Rule/Presumed Receipt is applied and borrower was not in receipt of re-disclosed LE 7/3 specific business days prior to consummation.  The loan files does contain a tracking disclosure however; it does not reflect the name of document sent for the specific date.

1/4/2017:  Lender provided a copy of E-Sign History verifying borrower E-Consented the re-disclosed documents on XX/XX/XXXX, which meets the 4 day rule for a re-disclosed LE prior to consummation.  No further documentation required, condition cleared.  12/23/2016:  Evidence not provided that the re-disclosed LE that was issued on XX/XX/XXXX was acknowledged by the borrowers 4 days prior to consummation. Borrowers do not meet the Mailbox Rule, condition remains.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 724; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 75%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #7.39 months excess reserves

75

eae02d5b-907a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Executed Business Returns

Missing evidence of signed 2014 and 2014 tax returns for borrower 1041 Trust Returns.Missing evidence of signed tax returns for borrower partnership (A).Missing evidence of signed tax returns for borrower partnership (B).

11/17/2016:  2014 signed business tax returns provided for partnership A and B, condition cleared.  10/28/2016:  Tax returns provided were not executed, condition remains.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves

277

eb2aa9f6-13c2-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

B

RA

A

A

Compliance

Sufficient RESPA Cure provided on HUD-1

Final Closing Disclosure indicates a tolerance cure in the amount of $560.00. Appraisal Fee was added in Section B from LE dated XX/XX/XXXX.

12/14/16 Cured post close, loan will be graded a B.

CLTV is lower than guideline maximum : UW Guides maximum CLTV of 75%, loan qualified with CLTV of 62.49%; No Mortgage Lates UW Guides require 0 x 30 days late in the most recent 12 months; credit report  verifies 82 months total payment history with no late payments reported; Years on Job Borrower has 30 years in Field  per 1003

282

ebc10b25-48d5-46ab-a1eb-2574724b0a08

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

No

No

No

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

2

1

1

A

A

RA

A

A

TRID

Missing borrower’s documented Intent to Proceed

Missing evidence of borrower's documented Intent to Proceed.  The loan file contains a Intent to Proceed however; it is not acknowledged by the borrowers.

1/13/2017:  Intent to proceed dated XX/XX/XXXX provided, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 809; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 49.38%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with 2.17 months excess reserves

288

eceaea3e-28c9-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Payoff Statement

Payoff Statement was not provided in the loan file.

12/30/16: Lender provided a copy of the payoff statement. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.63%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 58.60 months reserves; Years on Job Borrower has 20 years on job

75

f217f7cc-857a-e611-9c05-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Cleared

A

A

VA

A

A

Property

570 - Review Appraisal Missing

Review Appraisal Missing – A CDA report was not provided in file.

10/29/2016:  CDA provided reflecting reconciled value of $X,XXX,XXX or 0% variance. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 36.66%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 722; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 22.80 months reserves

314

f2353f65-30e7-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Credit

Cleared

A

A

CA

A

A

Credit

Missing Third Party Fraud Tool (Report)

The file is missing a third party fraud report. Guidelines require an industry standard fraud report be provided with the closed loan file along with any supporting document based on fraud report findings. Additional conditions may apply

02/08/17: Lender provided the third party fraud tool. No outstanding issues noted. (CDA provided) Condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 709; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 57.61%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #156 months excess reserves

226

f6c8c114-b3ec-e611-9e79-d8d385e1d166

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Cleared

A

A

VA

A

A

Property

Comps contain excessive gross adjustments

Added: 02/07/17: Appraisal contains excessive gross and net adjustments. Comparable 1: Gross 61%, Net: 54%, Comparable 2: Gross, 30%, Net 22%, Comparable 3: Gross 64%, Net 61%. Explanation was not provided. Additional conditions may apply.

2/13/2017:  Copy of addendum to the appraisal dated XX/XX/XXXX provided satisfactorily addressing the excessive gross and net adjustments, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 714; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #35.30 months excess reserves; Years Self Employed Borrower self-employed 11 years

301

f71c589f-2831-47de-8b52-c4b33eba480d

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

HUD Homeownership Counseling Disclosure not provided within 3 days of application

A HUD Home-ownership Organization Counseling Disclosure was not provided in the file.

1/31/2017:  HUD Home-ownership Organization Counseling Disclosure dated within 3 days of the initial application provided, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 37.94%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 742; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #105 months excess reserves

288

fae04106-b2e6-4701-8074-a4f413b1b8a0

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Non-Material

Yes

Yes

Yes

Yes

No Cure

TILA 130(b) - within 60 days of discovery

N/A

N/A

2

2

2

B

B

RB

B

B

TRID

Total of Payments is not accurate

Added 12/30/16: The post consummation CD reflected total of payments as $XXX,XXX. The actual total of payments is $XXX,XXX,  an over-disclosure of $XXX.XX.

12/30/16:  Non-material, observational finding, loan will graded a B.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.63%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 58.60 months reserves; Years on Job Borrower has 20 years on job

288

fe55787a-553c-4344-9f95-ad07d4434aa0

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

A

A

RA

A

A

Compliance

Funding occurred before RTC Expiration Date

The rescission period expired at midnight on XX/XX/XXXX, however the final Closing Disclosure reflects the loan disbursed on XX/XX/XXXX prior to the rescission expiration.

12/30/16: Lender provided the post consummation CD which shows the disbursement date after the expiration of the rescission period. Condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.63%; Reserves are higher than guideline minimum UW Guides require 9 months reserves, loan qualified with 58.60 months reserves; Years on Job Borrower has 20 years on job

285

fe63715a-850b-4803-b4aa-f33707e8cb9d

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Compliance

Cleared

TRID

Material

Yes

Yes

Not Likely

Yes

Cured - Missing Doc Provided

N/A

N/A - Condition Cleared

N/A - Condition Cleared

3

1

1

A

A

RA

A

A

TRID

Missing E Consent Disclosure

Missing the Borrower's Consent to Receive Communications Electronically. The loan file contains a E Consent however; it is dated the same date of the Note and documents were E Consented as of # per the tracking disclosure.  Please provide E Consent disclosure prior to the Note date for the borrowers.

12/23/2016:  E-Consent received, condition cleared.

FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 724; LTV is lower than guideline maximum UW Guides require 80% LTV, loan qualified with LTV of 75%; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #7.39 months excess reserves

292

ff63b110-27dc-e611-9c03-d8d385e0a8b2

Underwriting Complete

QM/Non-HPML

QM/Non-HPML

Property

Cleared

A

A

VA

A

A

Property

General Property Exception 2

CDA report reflects the subject address incorrectly; Please provide revised CDA Report with corrected subject address.

1/24/2017:  Updated CDA report provided reflecting the correct property address, condition cleared.

DTI is lower than guideline maximum UW Guides maximum DTI of 43%, loan qualified with DTI of 38.56%; FICO is higher than guideline minimum UW Guides require FICO of 700, loan qualified with FICO of 744; Reserves are higher than guideline minimum UW Guides require #9 months Subject reserves, loan qualified with #5.9 months excess reserves