EX-99.03 4 e10378ex99-03.htm INGLET BLAIR EXCEPTION REPORT

Exhibit 99.03

 

Loan Number (Selling Lender) Loan ID Exception ID Exception ID Date Condition Category Condition Standardized Description Condition ID Alternative Condition Grade Status Condition Custom Description Cleared Date Compensating Factors Lender Response Comments Moody's Final Exception Level Grade Fitch Final Exception Level Grade S&P Final Exception Level Grade Kroll Final Exception Level Grade DBRS Final Exception Level Grade
xxxxx 6000046365 558292 11/20/2019 Credit Potential credit depth risk - Minimum Number of Tradelines is less than 3 CRED 0098 2 Acknowledged B2 has no scores due to no tradeline. Credit exception waiver is required.    Low DTI - 29.67% verified DTI; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Lender acknowledged exception: Underwriting exception granted by UW. Verified Co-B pays obligations via debits from XXXXX checking account.
Mitigated Risk: Lender acknowledged exception: Underwriting exception granted by UW. Verified Co-B pays obligations via debits from XXXXX checking account.		 B B B B B
xxxxx 6000046365 558302 11/20/2019 Credit Asset Documentation is Insufficient CRED 0083 2 Acknowledged Missing terms of withdrawal for B2 401k acct used for reserves.   Low DTI - 29.67% verified DTI; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue. 12/09/19 Cleared per lender response: Used 60% of retirement towards reserves.
**Finding remains, unable to verify that the borrower has the ability to w/d from their 401K thus the account cannot be used to meet the reserves requirement.  With the account excluded the borrower only has xx mths verified reserves w/a requirement of xx.  		 Client: Waived by client based on the following compensating factors: Preforming loan with XX+ mths history 0x30 and low DTI of 29.67%. B B B B B
xxxxx 6000046329 554934 11/12/2019 Compliance Affiliated Business Disclosure Is Not Executed COMP 0036 1 Closed Missing Affiliated Business Disclosure.  Per the FACTS disclosure the lender has affiliates but does not share. 12/06/2019 Low LTV/CLTV/HCLTV - LTV/CLTV of 64.52%.   Recd lender attestation from the Chief Compliance officer that there is no "sharing" of information occurring that would trigger the Affiliated Business Disclosure to be sent. A A A A A
xxxxx 6000046329 558450 11/20/2019 Credit Insufficient verified reserves CRED 0100 2 Acknowledged XXXXX verified post-closing reserves is insufficient to cover XX months reserves required by guides (XXXXX). It appears an exception to policy was approved.   Low LTV/CLTV/HCLTV - LTV/CLTV of 64.52%.   EV2 - Preforming loan with XX+ mths pay history verified 0x30.
Mitigated Risk: EV2 - Preforming loan with XX+ mths pay history verified 0x30.		 B B B B B
xxxxx 6000046329 558452 11/20/2019 Credit Missing Verification of Rental CRED 0021 2 Acknowledged Missing Verification of Rental on prior residence at XXXXX. Borrower only has been in the subject for XX month.   Low LTV/CLTV/HCLTV - LTV/CLTV of 64.52%.   EV2 - Preforming loan with XX+ mths pay history verified 0x30.
Mitigated Risk: EV2 - Preforming loan with XX+ mths pay history verified 0x30.		 B B B B B
xxxxx 6000046332 555515 11/13/2019 Compliance Missing Affiliated Business Disclosure COMP 0010 1 Closed Missing Affiliated Business Disclosure, per Prviacy Disclosure affiliates are listed. 12/05/2019 Low LTV/CLTV/HCLTV - 64.03% LTV/CLTV   Recd lender attestation from the Chief Compliance officer that there is no "sharing" of information occurring that would trigger the Affiliated Business Disclosure to be sent. A A A A A
xxxxx 6000046332 555528 11/13/2019 Credit Hazard Insurance Coverage Amount is Insufficient HAZ 0004 1 Closed Coverage per the dec page of XXXXX is insufficient to cover loan amount of XXXXX or replacement cost new of XXXXX per the appraisal. Cost to rebuild not provided. 12/10/2019 Low LTV/CLTV/HCLTV - 64.03% LTV/CLTV   Recd the replacement cost estimate from the insurer which verifies the cost to rebuild of XXXXX A A A A A
xxxxx 6000046332 557892 11/19/2019 Credit Asset Documentation is Insufficient CRED 0083 2 Acknowledged Missing Terms of withdrawal for XXXXX 401k acct used in qualifying.   Low LTV/CLTV/HCLTV - 64.03% LTV/CLTV Recd from lender: Pension statement from XXXXX in file.  There is no withdrawal for XXXXX 401K as mentioned.  60% of asset balance was used as reserves. EV2 Per lender guideline retirement funds are not considered as liquidity however statements may be used to offset low liquidity and strengthen overall loan attributes.  Subject is a
Mitigated Risk: EV2 Per lender guideline retirement funds are not considered as liquidity however statements may be used to offset low liquidity and strengthen overall loan attributes.  Subject is a 		 B B B B B
xxxxx 6000046332 557904 11/19/2019 Credit Income Documentation is Insufficient CRED 0082 2 Acknowledged Missing YTD P&L and Balance Sheet for B1 Sched C business, XXXXX. Per guides, interim financial statements (P&L, Balance Sheet) for all borrowers.   Low LTV/CLTV/HCLTV - 64.03% LTV/CLTV Recd from lender: B XXXX with XXXXXX for XX years.  UW waived P&L. No Balance Sheet would have been required for Sch C income. Client: Lender acknowledged documentation exception: B XXXX with XXXXX for XX years.  UW waived P&L. No Balance Sheet would have been required for Sch C income. B B B B B
xxxxx 6000046332 557906 11/19/2019 Credit Credit Documentation is Insufficient CRED 0093 1 Closed Missing documentation to confirm exclusion of B2 installment account with XXXXX acct ending XXXX. Account is greater than 10 months to pay. Monthly payment per Credit Report is XXXX with current balance of XXXX and per credit statement.  12/10/2019 Low LTV/CLTV/HCLTV - 64.03% LTV/CLTV Pmt of XXXXX installment loan was last reported XXXXX.  UW approved loan in XXXXX using 1 less payment = X pmts left.  XXXX statement in file to confirm.
**Review confirmed DLA on the PCCD was XXXXX which left X months remaining as of the closing date which was XXXXX.  		 Review confirmed DLA on the PCCD was XXXXX which left 9 months remaining as of the closing date which was XXXXX.  A A A A A
xxxxx 6000046332 557908 11/19/2019 Credit Income Calculation Discrepancy CRED 0084 2 Acknowledged 42.78% per Loan Approval. 47.65% Review DTI. Variance due to review included loss of XXXXX/mo for B2 Schedule C business XXXXX reported on XXXX/XXXX 1040s. Review included the higher XXXX loss in qualifying. Unable to determine as to why this loss was excluded. Max DTI allowed per guides is 43%.    Low LTV/CLTV/HCLTV - 64.03% LTV/CLTV Recd from lender: No explanation why the Sch C loss is not used. EV2 subject transaction is a cash out of a primary residence with LTV of 64.03%.
Mitigated Risk: EV2 subject transaction is a cash out of a primary residence with LTV of 64.03%.		 B B B B B
xxxxx 6000046362 557096 11/17/2019 Credit Trust Agreement is Incomplete TRST 0003 2 Acknowledged Missing copy of Trust document.   Verified reserves - Total verified reserves in the amount of XXXXX for XXX months PITIA reserves - X months required. Recd from lender: Trust is not in file however, was reviewed by XXXXX.  Not A XXXXX.
**Finding remains copy of Trust not documented in loan file.
 Client: Waived by client based on the following compensating factors: Preforming loan w/XX+ mths history verified 0x30, verified reserves in the amount of XXXXX for XXX months PITIA reserves. B B B B B
xxxxx 6000046362 557113 11/18/2019 Credit Income Documentation is Insufficient CRED 0082 2 Acknowledged Missing XXXX 1040 or extension  2) Missing Balance Sheet and an updated P&L for B2 and B3 S Corp income:   3.) Missing updated paystub for B1 - Paystub is dated XXXXX.  Note is dated XXXXX which exceeds 120 days.
   Verified reserves - Total verified reserves in the amount of XXXXX for XXX months PITIA reserves - X months required. Recd from lender: 1. XXXX Extension in file.
** Unable to locate document in file.  Please provide a copy of the XXXX Extension;
2.  P&L signed before closing, Balance Sheet is missing.  Balance sheets within XXXXXX business returns are consistent.
** Finding remains, lender agrees that the Balance sheet is missing.;
  
3.  Pay stub for B1 is dated XXXXX - 120 days is XXXXX.
** #3 Cleared		 Client: Waived by client based on the following compensating factors: Preforming loan w/XX+ mths history verified 0x30, verified reserves in the amount of XXXXX for XXX months PITIA reserves. B B B B B
xxxxx 6000046362 557117 11/18/2019 Credit Credit Documentation is Insufficient CRED 0093 2 Acknowledged Missing mortgage payment history on rental properties.   Verified reserves - Total verified reserves in the amount of XXXXX for XXX months PITIA reserves - X months required. Recd from lender: XXX XXXXX statements in file, we can pull up actual XXX statements however these are u/w to Portfolio so the u/w just pulls XXXXX print screens from our Servicing System.  XXXXX and XXXXX statements -not legible in file.
**Finding remains lender agrees that the XXXXX and XXXXX statements are not legible.
**Need lender attestation that all of the XXXXX print outs are from the lenders servicing system.		 Client: Waived by client based on the following compensating factors: Preforming loan w/XX+ mths history verified 0x30, verified reserves in the amount of XXXXX for XXX months PITIA reserves. B B B B B
xxxxx 6000046362 557118 11/18/2019 Credit Guideline Exception(s) GIDE 0001 1 Closed Missing Certificate of Compliance. 12/10/2019 Verified reserves - Total verified reserves in the amount of XXXXX for XXX months PITIA reserves - X months required.   Recd copy of the COO. A A A A A
xxxxx 6000046376 556176 11/14/2019 Compliance Missing Affiliated Business Disclosure COMP 0010 1 Closed Missing Affiliated Business Disclosure, however, per Privacy Disclosure, lender does not share with any affiliates unless directed by borrower. 12/05/2019 Verified reserves - File contains XXXX months of verified reserves when guidelines require XXXX months be verified.; Verified employment history - Borrower has been XXXXX with XXXXX as a XXXXX for XX years.   Recd lender attestation from the Chief Compliance officer that there is no "sharing" of information occurring that would trigger the Affiliated Business Disclosure to be sent. A A A A A
xxxxx 6000046376 556184 11/14/2019 Credit Hazard Insurance Coverage Amount is Insufficient HAZ 0004 1 Closed Hazard insurance coverage does not appear to cover new cost build.  Per Hazard Dec, dwelling amount plus extension plus option ID, amount is XXXXX.  New build cost is XXXXX.  Missing insurer replacement cost estimate to verify sufficient coverage.  12/05/2019 Verified reserves - File contains XXXX months of verified reserves when guidelines require XXXX months be verified.; Verified employment history - Borrower has been XXXXX with XXXXX as a XXXXX for XX years.   Recd replacement cost estimate from the insurer for property. A A A A A
xxxxx 6000046376 556719 11/15/2019 Credit Final 1003 Application is Incomplete APP 0002 1 Closed Final 1003 is not signed by borrower. 12/10/2019 Verified reserves - File contains XXXX months of verified reserves when guidelines require XXXX months be verified.; Verified employment history - Borrower has been XXXXX with XXXXX as a XXXXX for XX years.   Exception Set in error, final executed 1003 in file. A A A A A
xxxxx 6000046342 556426 11/15/2019 Compliance Missing Affiliated Business Disclosure COMP 0010 1 Closed Missing Affiliated Business Disclosure, per Privacy Disclosure, two affiliates are provided. 12/05/2019     Recd lender attestation from the Chief Compliance officer that there is no "sharing" of information occurring that would trigger the Affiliated Business Disclosure to be sent. A A A A A
xxxxx 6000048423 576289 01/10/2020 Credit Fraud report alerts have not been addressed FRAUD 0001 1 Closed Missing comprehensive fraud report. 01/13/2020 Verified employment history - Borrower has stable, long-term 20-years employment history with same employer.; Low DTI - 42 DTI.; Verified housing payment history - xxx-months 0x30 mortgage history evidenced on credit report.; Verified reserves - xxx-months reserves.   01/13/20 Recd Fraud Attestation which documents the lenders internal fraud prevention program. A A A A A
xxxxx 6000048439 576293 01/10/2020 Credit Fraud report alerts have not been addressed FRAUD 0001 1 Closed Missing comprehensive fraud report. 01/13/2020 Established credit history - Credit history established xxxx with no delinquencies, collections, or public records reflected on credit report.; Verified housing payment history - xxx-months 0x30 mortgage history evidenced on credit report.; Verified employment history - Borrower has stable, long-term x-years employment history with same employer.; Verified reserves - xxxx -months reserves.; Low LTV/CLTV/HCLTV - 71.03 LTV/CLTV.; Low DTI - 35.40.   01/13/20 Recd Fraud Attestation which documents the lenders internal fraud prevention program. A A A A A
xxxxx 6000047495 571770 12/29/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed - Missing Third Party Appraisal Review - Desk Review Required-  FNMA UCDP report returned no findings for this non-UAD form type. (xxxxx to Order) 01/07/2020 Verified reserves - Borrower has verified reserves of xxxxx.; Verified employment history - WK# VOE verifies 19+ years with current employer.; Verified housing payment history - Borrower has more than xxxxx mths mortgage history verified 0x30.   12/28/19 Desk Review returned supporting value of $xxxxx with a Risk Ranking of xxxxx. A A A A A
xxxxx 6000047496 572724 01/02/2020 Compliance Missing Evidence of Re-disclosure and a valid COC for an increase in the "Cannot Increase Category" fee(s) from the last disclosed Closing Disclosure.   TRID 0120 1 Closed Missing COC for decrease in Lender Paid Recording Fee of $xxxxx -- The sum of non-specific (lump sum) lender credits and specific lender credits disclosed on the last Closing Disclosure ($xxxxx) has decreased below the amount disclosed on the Closing Disclosure sent on xxxxx, ($xxxxx). Non-specific lender credits are generalized payments that do not pay for a particular fee. Specific lender credits are specific payments to pay for a specific fee. The total amount of non-specific and specific lender credits cannot decrease unless a new disclosure is provided and there is a valid changed circumstance associated with the re-disclosure, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3)(i) and comments 19(e)(3)(i)-5 and -6; 12 CFR 1026.19(f)(2)(v); 12 CFR 1026.37(g)(6); 12 CFR 1026.38(h)). 01/07/2020     Per lender response credit was for a tolerance cure however, the credit was no longer required due to the fee actually not exceeding the regulation so it was removed.  A A A A A
xxxxx 6000047496 572725 01/02/2020 Compliance Missing Evidence of Re-disclosure and a valid COC for the sum of non-specific (lump sum) lender credits and specific lender credits ($) that have decreased from the amount disclosed on the Loan Estimate/Closing Disclosure.   TRID 0121 1 Closed The sum of non-specific (lump sum) lender credits and specific lender credits ($xxxxx) has decreased from the amount disclosed on the Closing Disclosure sent on xxxxx, ($xxxxx). Non-specific lender credits are generalized payments that do not pay for a particular fee. Specific lender credits are specific payments to pay for a specific fee. The total amount of non-specific and specific lender credits cannot decrease unless a new disclosure is provided and there is a valid changed circumstance associated with the re-disclosure. (12 CFR 1026.19e)(3)(i) and comments 19(e)(3)(i)-5 and -6; 12 CFR 1026.37(g)(6); 12 CFR 1026.38(h)). 01/07/2020     Per lender response credit was for a tolerance cure however, the credit was no longer required due to the fee actually not exceeding the regulation so it was removed.  A A A A A
xxxxx 6000047497 569747 12/22/2019 Credit Missing Evidence of sale of property owned HUD 0011 1 Closed Missing documentation to verify the disposition of xxxxx.  REO was not included on the Schedule of REO.  Current Deck page provided in file reflects current policy with xxxxx. 01/06/2020     01/06/19 Recd LOE from the lender that the address on the insurance deck page is a typo.  Search of  County property tax records confirms that the borrowers do not own property on xxxxx. A A A A A
xxxxx 6000047498 572109 12/30/2019 Credit Missing Evidence of Ownership of Free and Clear Property CR 0011 1 Closed Missing documentation to verify xxxxx is owned free and clear.  Property was not reported on the borrowers xxxxx 1040s. 01/15/2020 Verified reserves - Borrowers have xxxxx in verified liquid reserves. Recd duplicate copy of the HOI deck page for this property.
**Finding remains.  Missing additional documentation such as a property report or settlement statement from the purchase of the property to verify xxxxx is owned free and clear.

Recd request to escalate.
**Finding remains as a property search is required to verify current status as the deck page is dated xxxxx.



Recd from lender: Please see HOI deck page for this property does not reflect a lender.  This is sufficient evidence it is free and clear.
**Finding remains, missing property search to evidence no liens.		 Recd xxxxx Property Search confirming no Deeds and Mortgages. A A A A A
xxxxx 6000047498 572111 12/30/2019 Credit Credit Documentation is Insufficient CRED 0093 1 Closed Missing copies of the mortgage statements for xxxxx and xxxxx xxxxx to verify that the properties are matched properly.  Does not appear that the accounts are escrowed per the final 1003. 01/06/2020 Verified reserves - Borrowers have xxxxx in verified liquid reserves.   Lender used the HOI deck pages to verify that the mortgages are matched correctly.  HOI for xxxxx reflects xxxxx as the lender which leaves the only other mortgage to be xxxxx A A A A A
xxxxx 6000047498 572118 12/30/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing verification of taxes for xxxxx.  Review used xxxxx average from the 1008 1040s to qualify. 01/06/2020 Verified reserves - Borrowers have xxxxx in verified liquid reserves.   Per FNMA selling guide 1040 Sch E is acceptable for documentation for qualifying non subject taxes and insurance.  A A A A A
xxxxx 6000047499 571670 12/28/2019 Compliance Estimated Total Minimum/Maximum Payment Amount does not match the Disclosed Closing Disclosure Projected Payments Table (12 CFR 1026.37(b)(3)) TRID 0092 1 Closed Variance is due to miscalculation of the subject property taxes.  Lender used xxxxx, Review calculated xxxxx based on the annual amount of xxxxx per the tax Information Disclosure  This amount was also claimed by the borrower per Sch E --  The Estimated Total Maximum Payment Amount in column 1 of the Disclosed Closing Disclosure Projected Payments Table does not match the value in the System Calculated Projected Payments Table. The Disclosed Projected Payments Table contains a value of (xxxxx), while the Calculated Projected Payments Table has a value of (xxxxx).
The Estimated Total Maximum Payment Amount in column 1 of the Disclosed Closing Disclosure Projected Payments Table does not match the value in the System Calculated Projected Payments Table. The Disclosed Projected Payments Table contains a value of (xxxxx), while the Calculated Projected Payments Table has a value of (xxxxx).		 01/14/2020     Lender excluded xxxxx assessment in their calculation.  Updated subject taxes to xxxxx based on the semi-annual amounts of $xxxxx.  Finding cleared upon re-submission. A A A A A
xxxxx 6000047500 572310 12/31/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing verification of HOA due for xxxxx.  Per the mortgage statement account is escrowed however unable to validate additional expenses of xxxxx as reflected on the 1003. 01/06/2020 Low LTV/CLTV/HCLTV - 56.78%; No Apparent Right to Statutory Damages - Override xxxxx. Immaterial   xxxxx Recd Resident Transaction report for xxxxx.  Monthly assessment xxxxx A A A A A
xxxxx 6000047500 572752 01/02/2020 Compliance LE or CD Improperly Issued TRID 0160 2 Acknowledged Material Compliance Finding: You submitted a Last Closing Disclosure Received Date (xxxxx) earlier than the Last Closing Disclosure Date Issued (xxxxx). The System cannot perform a Regulation Z business day disclosure waiting period review without accurate dates. (12 CFR 1026.17(f); 1026.37; 1026.19(f); 1026.22(a)(2))
Material Compliance Finding: You submitted a Last Closing Disclosure Received Date (xxxxx) earlier than the Last Closing Disclosure Date Issued (xxxxx). The System cannot perform a Regulation Z business day disclosure waiting period review without accurate dates. (12 CFR 1026.17(f); 1026.37; 1026.19(f); 1026.22(a)(2))		   Low LTV/CLTV/HCLTV - 56.78%; No Apparent Right to Statutory Damages - Override xxxxx. Immaterial   Issue date on the CD appears to be incorrect. The CD shows an issue date of xxxxx, however, borrower appears to have signed on xxxxx.
Mitigated Risk: Issue date on the CD appears to be incorrect. The CD shows an issue date of xxxxx, however, borrower appears to have signed on xxxxx.		 B B B B B
xxxxx 6000047501 569811 12/22/2019 Credit Missing proof property ownership is free and clear of debt/liens CRED 0088 1 Closed Missing evidence that the following properties are owned Free and Clear.  Appears lender relied on the xxxxx 1040s that reflect no mortgage interest was claimed: xxxxx, xxxxx, xxxxx, xxxxx., xxxxx.. 01/07/2020     xxxxx Per FNMA selling guide 1040 Sch E is acceptable for documentation for verifying properties are owned free and clear when no mortgage interest is reported.  A A A A A
xxxxx 6000047501 569821 12/22/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing proof of taxes on the borrowers primary residence xxxxx.  Per the xxxxx Statement the account is not escrowed ().  Proof of insurance was provided.  Review used xxxxx estimated 2019 taxes of xxxxx (xxxxx annual) to qualify. 01/07/2020     Recd verification of Taxes for xxxxx.  2018 Tax amount xxxxx. which was less than the amount used to qualify. A A A A A
xxxxx 6000047501 569825 12/22/2019 Credit Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information CRED 0103 1 Closed Missing documentation to verify current taxes and insurance on the following REO.  Appears that the lender used the information from the 2018 1040 to qualify: xxxxx 01/07/2020     Per FNMA selling guide 1040 Sch E is acceptable for documentation for qualifying non subject taxes and insurance.  A A A A A
xxxxx 6000047501 569842 12/22/2019 Compliance No evidence lender provided copies of written appraisals ECOA 0003 1 Closed Missing evidence that the borrowers received a copy of the appraisal 3 business days prior to closing.  No Appraisal waiver located in the loan file. 01/07/2020     Recd verification of appraisal delivery on xxxxx. A A A A A
xxxxx 6000047502 568493 12/18/2019 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 1 Closed Final 1003 () lists Real Estate owned of xxxxx, however REO Schedule () lists only subject with value of xxxxx. REO schedule does not match total REO assets.  01/23/2020 Verified credit history - xxxxx qualifying credit scores. Limited credit user. No derogatory credit. File dates back to xxxxx. Recd copy of corrected 1003 reflecting the correct mailing address.
**Finding remains changes were not initialed by the borrower and no documentation was provided that a copy of of the corrected document was provided to the borrower.		 Recd copy of corrected 1003 reflecting the correct mailing address with an email from the borrower confirming receipt of the corrected and acknowledging the changes are correct. A A A A A
xxxxx 6000047502 568621 12/19/2019 Credit Final 1003 Application is Incomplete APP 0002 1 Closed Final 1003 () is not complete. Mailing address for borrower is listed as xxxxx. Missing complete mailing address. REO Schedule does not list complete property address included street, city, state and zip code.  01/23/2020 Verified credit history - xxxxx qualifying credit scores. Limited credit user. No derogatory credit. File dates back to xxxxx. Recd copy of corrected 1003 reflecting the correct mailing address.
**Finding remains changes to the 1003 were not initialed by the borrower and no documentation was provided that a copy of of the corrected document was provided to the borrower.		 Recd copy of corrected 1003 reflecting the correct mailing address with an email from the borrower confirming receipt of the corrected and acknowledging the changes are correct. A A A A A
xxxxx 6000047502 569631 12/21/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required-  FNMA UCDP report returned no findings for this non-UAD form type. 01/07/2020 Verified credit history - xxxxx qualifying credit scores. Limited credit user. No derogatory credit. File dates back to xxxxx.   Desk review returned supporting value of xxxxx with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047503 569590 12/21/2019 Compliance APN Number and/or Legal Descriptions do not match security instrument COLL 0002 1 Closed The APN on the Deed  of Trust (), does not match the APN associated with the appraisal () or Title ().  DOT reflects Tax Account Number of xxxxx, Appraisal and title reflect xxxxx. 01/13/2020     Cleared Verified Legal Description is accurate on all documents.  A A A A A
xxxxx 6000047503 569595 12/21/2019 Credit Hazard Insurance Coverage Amount is Insufficient HAZ 0004 1 Closed Missing evidence of Insurance for the subject property.  The HOI policy provided for the subject property expired xxxxx, loan closed on xxxxx ().  01/14/2020   Recd copy of the lenders Homeowners Insurance Summary.
**Finding Remains missing copy of updated deck page. Lenders Insurance Summary is not sufficient.		 REcd copy of current deck page for the subject property. A A A A A
xxxxx 6000047503 569635 12/21/2019 Credit Undisclosed or Excluded Debt CRED 0086 1 Closed Missing Documentation to support the omission of xxxxx, xxxxx, and xxxxx accounts.  Review included the debts in the borrower's DTI, as the borrower demonstrated ownership of the accounts through the credit report (ID ending in xxxxx) tradeline activity.  Inclusion of the Account results in DTI of 38.10% which exceeds the allowable tolerance of 3%. 01/13/2020     Accounts were excluded as the ECOA code is xxxxx for Authorized User. A A A A A
xxxxx 6000047503 569660 12/21/2019 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed Review DTI of 38.10% exceeds the allowable 3% tolerance.  Lender approved DTI 34.87% -Missing Documentation to support the omission of xxxxx accounts. 01/13/2020     12/26/19 Excluding the accounts that the borrowers is not responsible for (Authorized User) the DTI is w/in tolerance. A A A A A
xxxxx 6000047505 571569 12/28/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required --FNMA UCDP report returned no findings for this non-UAD form type. (xxxxx to Order). 12/30/2019 Verified employment history - xxxxx has stable, long-term 16.7-years employment history with same employer.; Verified housing payment history - xxxxx-months 0x30 mortgage history evidenced on credit report.   Recd ARR supporting value of xxxxx w/no variance. A A A A A
xxxxx 6000047505 571578 12/28/2019 Credit Income Documentation is Insufficient CRED 0082 1 Closed Missing evidence of xxxxx YTD Paystub and/or WVOE documenting all YTD earnings, per AUS ().  ***Lender only provided 2017/2018 W2's (), VVOE (), and expired xxxxx Paystub (). 01/13/2020 Verified employment history - xxxxx has stable, long-term 16.7-years employment history with same employer.; Verified housing payment history - xxxxx-months 0x30 mortgage history evidenced on credit report.   Recd pay stub for xxxxx dated xxxxx supporting income used to qualify, A A A A A
xxxxx 6000047671 571097 12/26/2019 Credit Hazard Insurance Coverage Amount is Insufficient HAZ 0004 1 Closed Missing Hazard Insurance verification on subject property. Copy of hazard coverage () confirmed coverage amount. Unable to confirm policy number, premium amount and expiration date. Review used stated monthly premium of  01/17/2020 Verified housing payment history - xxxxx months of current and prior mortgage history paid 0x30 per credit report. ; Low LTV/CLTV/HCLTV - LTV/CLTV of 61.03%; Verified reserves - Verified post closing reserves of xxxxx. DU () required reserves of xxxxx.  Recd copy of insurance deck page for the subject property.  Insurance policy reflects that the subject is owner occupied with additional personal property coverage.
Appraisal also shows the property to be owner occupied.  Possible occupancy mis-rep.

REcd copy of expired deck page for xxxxx
** Finding remains, missing copy of subject deck page.		 Recd copy of insurance deck page for the subject property.  Insurance policy reflects that the subject is owner occupied with additional personal property coverage. QMATR-0014 and ROR 0001. A A A A A
xxxxx 6000047671 571392 12/27/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing desk review to support value of xxxxx.  FNMA Collateral Risk Score 3 (). (xxxxx to order). 12/28/2019 Verified housing payment history - xxxxx months of current and prior mortgage history paid 0x30 per credit report. ; Low LTV/CLTV/HCLTV - LTV/CLTV of 61.03%; Verified reserves - Verified post closing reserves of xxxxx. DU () required reserves of xxxxx.    Recd ARR supporting value with positive 2.59% variance. A A A A A
xxxxx 6000047671 571427 12/27/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed 1) All properties owned are financed per 1003. Missing mortgage statements for all non-subject properties. Unable to reconcile mortgages to properties owned without mortgage statement. Review used data from 1003/credit report, pending verification.
2) File contains insurance and tax verification for all properties except one (xxxxx). Missing confirmation of tax and insurance amount on this property.		 01/07/2020 Verified housing payment history - xxxxx months of current and prior mortgage history paid 0x30 per credit report. ; Low LTV/CLTV/HCLTV - LTV/CLTV of 61.03%; Verified reserves - Verified post closing reserves of xxxxx. DU () required reserves of xxxxx.    Per Lender used the HOI statement to validate that all of the mortgages were matched correctly.

2) FNMA selling guide 1040 Sch E is acceptable for documentation for qualifying non subject taxes and insurance. 		 A A A A A
xxxxx 6000047671 578847 01/17/2020 Credit AUS is invalid - conditions were not met QMATR 0014 2 Acknowledged Loan was approved as an investment transaction however per the subject appraisal and  insurance deck page the subject is owner occupied.   Verified housing payment history - xxxxx months of current and prior mortgage history paid 0x30 per credit report. ; Low LTV/CLTV/HCLTV - LTV/CLTV of 61.03%; Verified reserves - Verified post closing reserves of xxxxx. DU () required reserves of xxxxx.    xxxxx- Recd copy of updated appraisal reflecting the subject to be tenant occupied. Leases in file support short term rental use which would support the occupancy on the insurance deck page with contents coverage. All other documentation in the loan file such as Bank Statements, Credit report, and tax returns support that the subject is NOT owner occupied.
Mitigated Risk: xxxxx- Recd copy of updated appraisal reflecting the subject to be tenant occupied. Leases in file support short term rental use which would support the occupancy on the insurance deck page with contents coverage. All other documentation in the loan file such as Bank Statements, Credit report, and tax returns support that the subject is NOT owner occupied.		 B B B B B
xxxxx 6000047671 578848 01/17/2020 Compliance Missing Right of Rescission ROR 0001 1 Closed Missing ROR.  Loan was approved as an investment transaction however per the subject appraisal and  insurance deck page the subject is owner occupied. 01/21/2020 Verified housing payment history - xxxxx months of current and prior mortgage history paid 0x30 per credit report. ; Low LTV/CLTV/HCLTV - LTV/CLTV of 61.03%; Verified reserves - Verified post closing reserves of xxxxx. DU () required reserves of xxxxx.    Recd corrected appraisal reflecting the subject as tenant occupied.  All other documentation in the loan file such as Bank Statements, Credit report, and tax returns support that the subject is NOT owner occupied. A A A A A
xxxxx 6000047506 573097 01/03/2020 Credit Asset Documentation is Insufficient CRED 0083 1 Closed Missing 2 months consecutive bank statements for the following accounts: 1) xxxxx. Only the xxxxx statement was provided for review.;
CLEARED - 2) xxxxx A/# ending in xxxxx.  Only the xxxxx statement was provided for review.		 01/27/2020   Finding Remains Per FNMA selling guide. The lender can use any of the following types of documentation to verify that a borrower has sufficient funds for closing, down payment, and/or financial reserves.  Copies of bank statements or investment portfolio statements. The statements must cover the most recent full two-month period of account activity (60 days, or, if account information is reported on a quarterly basis, the most recent quarter).

Recd copy of the xxxxx statement for xxxxx A/# ending in xxxxx finding partially cleared.;
Recd response from lender that the UW allowed use of July and September statement for A/# ending in xxxxx since the client had xxxxx in xxxxx account and the same was true of the xxxxx statement.  Finding #1 remains as the statements provided are not consecutive and do not meet the DU requirements.		 Recd LP findings reflecting Accept only requiring xxxxx mth of statements. A A A A A
xxxxx 6000047507 572257 12/31/2019 Credit Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information CRED 0103 1 Closed xxxxx
1) Missing documentation to confirm xxxxx is encumbered by the following mortgages: xxxxx with mortgage payment of of xxxxx and mortgage amount of xxxxx and xxxxx with mortgage payment of xxxxx and mortgage amount of xxxxx.
2) Missing documentation to confirm tax of xxxxx () is escrowed. A separate tax line item was not included on the Final 1003 ().
3) Missing VOM for xxxxx. The mortgage is not reported on the credit report.
xxxxx
4) Missing documentation to confirm xxxxx  is encumbered by the following mortgage: xxxxx with mortgage payment of of xxxxx and mortgage amount of xxxxx.
5) Missing VOM for xxxxx. The mortgage is not reported on the credit report.
6) Missing documentation to confirm xxxxx is paid off. The mortgage is reflected on the credit report. It appears it has been replaced by xxxxx.
xxxxx
7) Missing documentation to confirm xxxxx is encumbered by the following mortgage: xxxxx with mortgage payment of of xxxxx and mortgage amount of xxxxx.
6) Missing documentation to confirm xxxxx is paid off. The mortgage is reflected on the credit report. It appears it has been replaced by xxxxx.
7) Missing VOM for xxxxx. The mortgage is not reported on the credit report.
8) Missing evidence of TIA of xxxxx x/mo used in qualifying (). 		 01/14/2020     #1 Cleared -- Recd copy of xxxxx A/# ending xxxxx for xxxxx  verifying PB of xxxxx and  PI of xxxxx.  Taxs xxxxx.  Also Recd is a Copy of the xxxxx which verifies Balance of xxxxx and payment of xxxxx.  Taxes xxxxx, Haz xxxxx.;
#2 Cleared - Recd verification of taxes for xxxxx.  Mthly amt xxxxx,  HOI verifies Mthly amt of xxxxx.;
#3 Cleared-  Recd xxxxx servicing screen prints which verifies the history for A/# ending in xxxxx with no lates.;
#4 Cleared - Recd copy of xxxxx A/# ending xxxxx for xxxxx.  Current PB xxxxx with PI payment of xxxxx.  Taxes xxxxx + xxxxx .;
#5 Cleared - Recd xxxxx servicing screen prints which verifies the history for A/# ending in xxxxx with no lates.;
#6 Cleared - Recd copy of Final CD for xxxxx which verifies that xxxxx was paid off.;
#7 Cleared  Recd documentation which verifies that the borrowers did not close on the refinance of xxxxx  Current Statement for xxxxx verifies PITI of xxxxx. PFI Statement verifies payment of xxxxx.		 A A A A A
xxxxx 6000047509 567305 12/16/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing mortgage statements and/or Final CD for xxxxx A/# ending xxxxx. 01/13/2020     Recd copy of xxxxx Statement for xxxxx confirming loan amt of xxxxx with PITI of xxxxx. A A A A A
xxxxx 6000047510 571568 12/28/2019 Property Missing Appraiser License APPR 0043 1 Closed No copy of appraisers licensed provided.  01/07/2020 Verified credit history - xxxxx qualifying credit score. No derogatory credit. Credit file dates back to xxxxx.; Verified reserves - Post closing reserves of xxxxx. DU () required reserves of xxxxx.   Recd complete copy of the appraisal with a copy of the license included. A A A A A
xxxxx 6000047511 571461 12/27/2019 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed LP requires Re-Submission due to DTI > 45%-- Approved DTI 47.55%, Review DTI 48.56%.  Variance is due net rental calculation for the subject. 01/14/2020 Verified ownership of subject property - 14-years ownership of subject property.; Verified housing payment history - xxxxx-months 0x30 mortgage history evidenced on credit report.; Verified employment history - Borrower has stable, long-term 6.22-years employment history with same employer.; Verified reserves - xxxxx-months reserves.; Income verified was not used in qualifying - xxxxx SSA-1099 evidenced co-borrower receives xxxxx annual SSI (xxxxx monthly), not used for qualifying purposes (). Lender response received was duplication of the findings.  No response or updated documentation provided. Review Updated subject net rental using the xxxxx 1040s.  A A A A A
xxxxx 6000047515 573197 01/03/2020 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing evidence of taxes and insurance on the additional REO.  Figures declared on the xxxxx 1040 Schedule E were used for qualifying. 01/07/2020     Per FNMA selling guide 1040 Sch E is acceptable for documentation for qualifying non subject taxes and insurance.  A A A A A
xxxxx 6000047515 573200 01/03/2020 Credit Missing Employment doc (VOE) CRED 0007 1 Closed Missing re-verification of xxxxx employment completed within 10 business days of the Note date xxxxx.  The only verification in the file is dated xxxxx, which is xxxxx business days prior to the Note date. 01/07/2020     Recd Re-Verification of employment for xxxxx dated xxxxx. A A A A A
xxxxx 6000047519 569675 12/21/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required, FNMA Collateral Risk score returned at 4.1. (xxxxx to Order) 12/28/2019 Verified employment history - Borrower has stable, long-term 7.55-years employment history with same employer.; Verified housing payment history - xxxxx-months mortgage history evidenced on credit report.; Verified reserves - 8.11-months reserves.; Low DTI - 42.18 DTI.   Desk Review returned supporting value of xxxxx with a Reasonable Risk Rating. A A A A A
xxxxx 6000047520 573261 01/03/2020 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing evidence of taxes, insurance, and the new mortgage terms with xxxxx for the borrower's primary residence xxxxx.  Insurance in the file is cut off, unable to read the total premium (.  Taxes () do not appear to be for the complete annual amount.  Missing evidence of the refinance, including that the xxxxx mortgage has been paid in full. 01/07/2020     Recd copy of the final CD for the refinance of the borrowers primary residence.  Total PITI xxxxx per the CD executed xxxxx. A A A A A
xxxxx 6000047520 574225 01/07/2020 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed Missing documentation to support the omission of Student Loan A/# ending xxxxx with a balance of xxxxx as of xxxxx or provided updated LP findings with the debt included.  Review included estimated payment of xxxxx which pushes the DTI over 50%.   01/15/2020    Recd response that Student loan payment of xxxxx was included in the qualifying DTI of 49.54%.
**Finding Remains Review Calculated DTI 52.81% exceeds the allowable tolerance.  Review Used the following:
Income xxxxx
Primary xxxxx
Subject Loss xxxxx
Negative Rents xxxxx
Monthly consumer Debt xxxxx
Total xxxxx		 Finding cleared.  A Typo was discovered in the borrowers primary housing expenses (xxxxx vs xxxxx) A A A A A
xxxxx 6000047522 572521 12/31/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing desk review to support value of xxxxx. FNMA Collateral Risk Score 3. (xxxxx to order) 01/07/2020     Desk review returned supporting value of xxxxx with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047522 572524 12/31/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing documentation to confirm insurance premium of xxxxx/mo on subject. Evidence of insurance () does not reflect a premium amount.  01/07/2020     Recd confirmation of the Policy premium of xxxxx for policy Number xxxxx. A A A A A
xxxxx 6000047522 572537 12/31/2019 Credit Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information CRED 0103 1 Closed Missing documentation to confirm monthly payment of xxxxx on xxxxx acct ending xxxxx used in qualifying (). Mtg is tied to xxxxx. Mortgage statement () does not reflect a payment amount. 01/14/2020     Recd credit supplement verifying payment of xxxxx used to qualify. A A A A A
xxxxx 6000047525 569752 12/22/2019 Compliance APN Number and/or Legal Descriptions do not match security instrument COLL 0002 1 Closed The tax account number on the deed of trust and title is xxxxx.  The appraisal and title commitment reflect xxxxx 01/17/2020     01/17/19 Cleared verified the legal on all 3 documents matches (DOT/Appraisal/Title) A A A A A
xxxxx 6000047525 569788 12/22/2019 Credit Income Documentation is Insufficient CRED 0082 1 Closed xxxxx W2s in the file are illegible () 01/21/2020   Recd copies of xxxxx W2s for xxxxx.  Documents are still not legible.  Finding remains.  2017/2018 W2-Transcripts may provided in lieu of W2s. Recd legible copies of the xxxxx W2 for xxxxx, and 2017/2018 W2s for xxxxx. A A A A A
xxxxx 6000047525 569894 12/22/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing Third Party Appraisal Review - Desk Review Required-  FHLMC UCDP report returned a score of 5 (xxxxx to Order). 01/06/2020     ARR returned supporting value of xxxxx with no variance and a Risk Rating of Reasonable. A A A A A
xxxxx 6000047525 573279 01/03/2020 Credit Income Calculation Discrepancy CRED 0084 1 Closed Missing explanation for the variance between the two written VOEs in the file.  Reviewer used the xxxxx version () as it supported the figures used by the lender, however there is no explanation for the figures on the xxxxx VOE being so low for xxxxx and year to date, processor cert on  only addresses why the xxxxx figures were missing. 01/21/2020     Recd legible copies of the xxxxx W2s for xxxxx.  Borrower was issued 2 W2s in xxxxx which totaled xxxxx.  xxxxx W2 reflects wages of xxxxx which is not a significant decline. A A A A A
xxxxx 6000047526 572446 12/31/2019 Credit Missing Verification of Liability (Contingent or Otherwise) CRED 0097 1 Closed 1) Missing documentation to confirm xxxxx acct xxxxx with balance of xxxxx. Account was excluded in qualifying due to being paid off at closed. Per 1008 (), debt is being paid off by client with simultaneous xxxxx
2) Missing documentation to confirm xxxxx with balance of xxxxx has been paid off and closed. It appears it has been replaced by simultaneous loan with xxxxx		 01/14/2020 Low LTV/CLTV/HCLTV - LTV/CLTV 68.18%.; Verified credit history - Borrower has mid FICO of xxxxx; Verified reserves - Borrower has xxxxx in verified reserves. Recd copy of CD for refinance of xxxxx which verifies the payoff of xxxxx.  New loan amt xxxxx PITI xxxxx.  Finding #2 is cleared.
**Lender response indicates that the xxxxx account should be included and updated AUS findings were to be provided however they were not included for review. Finding #1 remains.  Please provide a copy of the updated findings and 1008.		 Recd updated AUS findings including the xxxxx payment which was not paid off. A A A A A
xxxxx 6000047526 572455 12/31/2019 Credit Unacceptable Mortgage History CRED 0001 1 Closed Missing documentation to confirm mortgage history for the following mortgages:
1) xxxxx The screen print out in file does not reflect mtg rating (). The mortgage is not reported on the credit report. Mtg is tied to xxxxx
2) xxxxx. The screen print out in file does not reflect mtg rating (). The mortgage is not reported on the credit report. Mtg is tied to xxxxx.
3) xxxxx. The mortgage is not reported on the credit report but is the first mtg being paid off at close.
4) Missing VOM for an unknown lender listed on Final 1003 (). Mtg tied to xxxxx with mtg payment of xxxxx and mtg balance of xxxxx.		 01/07/2020 Low LTV/CLTV/HCLTV - LTV/CLTV 68.18%.; Verified credit history - Borrower has mid FICO of xxxxx; Verified reserves - Borrower has xxxxx in verified reserves. Recd the following:
Copy of xxxxx loan pay off for A/# ending in xxxxx which reflects only in the name of xxxxx.  #1 and 3 Cleared,
Copy of xxxxx loan verification for A/#  xxxxx which is a commercial loan in the name of xxxxx only. #2 Cleared;
Copy of CD for refinance of xxxxx) which verifies the payoff of xxxxx and xxxxx. Finding #4 cleared.		 Recd the following:
Copy of xxxxx loan pay off for A/# ending in x which reflects only in the name of xxxxx.  #1 and 3 Cleared,
Copy of xxxxx loan verification for A/#  xxxxx which is a commercial loan in the name of xxxxx only. #2 Cleared;
Copy of CD for refinance of xxxxx) which verifies the payoff of xxxxx and xxxxx. Finding #4 cleared.		 A A A A A
xxxxx 6000047526 572474 12/31/2019 Credit Missing Employment doc (VVOE) CRED 0006 1 Closed Missing business search to confirm business, xxxxx() is active. There is a business search in file, however, it is for xxxxx ().  03/09/2020 Low LTV/CLTV/HCLTV - LTV/CLTV 68.18%.; Verified credit history - Borrower has mid FICO of xxxxx; Verified reserves - Borrower has xxxxx in verified reserves. Recd SOS Search for xxxxx.   Recd SOS Search for xxxxx.   A A A A A
xxxxx 6000047526 572631 01/01/2020 Compliance Missing Title Holder Name from Title Evidence TITL 0011 1 Closed Missing copy of the Deed transferring title from xxxxx to the borrower xxxxx individually. Per title commitment the title was vested in xxxxx.  which appears to be borrower's business as application showed employer as xxxxx 01/07/2020 Low LTV/CLTV/HCLTV - LTV/CLTV 68.18%.; Verified credit history - Borrower has mid FICO of xxxxx; Verified reserves - Borrower has xxxxx in verified reserves.   Recd executed copy of the Deed transferring title from xxxxx. to the borrower xxxxx individually. A A A A A
xxxxx 6000047528 573350 01/03/2020 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 1 Closed The 1003 reflects that the mortgage payment for the borrower's primary residence is xxxxx.  Per the xxxxx statement, the payment is xxxxx.  VOM dated xxxxx supports with a rounded payment of xxxxx.  Unable to determine the source of the figure on the 1003 and used in DTI. 01/14/2020    Recd copy of the xxxxx Statement which supports payment of xxxxx not what was used for the AUS submission of xxxxx.  Missing updated AUS reflecting the corrected primary housing payment. Recd copy of corrected 1003. A A A A A
xxxxx 6000047528 573364 01/03/2020 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed The 1003 reflects that the mortgage payment for the borrower's primary residence is xxxxx.  Per the xxxxx statement, the payment is xxxxx.  VOM dated xxxxx supports with a rounded payment of xxxxx.  Unable to determine the source of the figure on the 1003 and used in DTI.  The review DTI is more than 3% higher than the lender's DTI, and requires re-submission to AUS. 01/14/2020   Recd copy of the xxxxx Statement which supports payment of xxxxx not what was used for the AUS submission of xxxxx.  Missing updated AUS reflecting the corrected primary housing payment. Recd copy of updated DU findings reflecting revised DTI of 41.39% A A A A A
xxxxx 6000047530 569733 12/21/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required --FNMA UCDP report returned no findings for this non-UAD form type. (xxxxx to Order). 12/30/2019 Verified ownership of subject property - xxxxx-years ownership of subject property.; Verified housing payment history - xxxxx-months 0x30 mortgage history evidenced on credit report.; Verified employment history - Borrower has stable, long-term 13.41-years employment history with same employer.; Verified employment history - Co-Borrower has stable, long-term 10.66-years employment history with same employer.; Low LTV/CLTV/HCLTV - 68.08 LTV/CLTV.; Low DTI - 29.62 DTI.   REcd ARR supporting value of $xxxxxx w/no variance. Risk Rating Reasonable. A A A A A
xxxxx 6000047533 568269 12/18/2019 Credit QM/ATR Failure QMATR 0005 1 Closed The loan fees (xxxxx) exceed the (QM) (Note Amount >=xxxxx) fee limit, which is 3% of the Total Loan Amount (xxxxx), the difference is (xxxxx). (12 CFR 1026.43(e)(3). 01/07/2020     Recd copy of appraisal invoice which verifies that it was not paid to an affiliate. A A A A A
xxxxx 6000047533 572746 01/02/2020 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing copy of the final executed CD from the refinance of the borrowers primary residence xxxxx.  Per the final 1003, xxxxx was paid off and the new xxxxx, loan amount xxxxx, PITI of xxxxx 01/07/2020     Recd copy of the final executed CD from the refinance of the borrowers primary residence xxxxx verifying payment of xxxxx  A A A A A
xxxxx 6000047534 571651 12/28/2019 Credit Missing Employment doc (VVOE) CRED 0006 1 Closed Borrowerxxxxx, 3rd Party verification ) confirmed 4 yrs of employment. Verification is dated xxxxx which is not within 120 days of Note date of xxxxx as required per DU.  03/09/2020 Verified housing payment history - xxxxx months of current and prior mortgage history paid 0x30 per credit report.; Verified reserves - DU required reserves of xxxxx (2). Verified post closing reserves of xxxxx.    Recd SOS Search for xxxxx, company name xxxxx A A A A A
xxxxx 6000047534 571664 12/28/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing mortgage statement on primary residence (xxxxx). Mortgage statement in file () is for prior mortgage which was refinanced.  01/14/2020 Verified housing payment history - xxxxx months of current and prior mortgage history paid 0x30 per credit report.; Verified reserves - DU required reserves of xxxxx (2). Verified post closing reserves of xxxxx.  Recd copy of Insurance and Tax Bill fo rxxxxx.  Taxes xxxxx and Ins xxxxx

Recd copy of xxxxx Statement for xxxxx.
**Finding Remains Prior lenders mortgage statement is not sufficient to verify the taxes and insurance,  Missing copy of insurance deck page and Tab Bill OR Final CD from xxxxx.

Recd copy of 1st payment letter for the borrowers primary residence xxxxx) which verifies PI payment of xxxxx.,
Missing documentation to verify the taxes and insurance.  Review used estimate of xxxxx from the 1003.		 Recd copy of Insurance and Tax Bill for xxxxx.  Taxes xxxxx and Ins xxxxx.   Recd copy of 1st payment letter for the borrowers primary residence xxxxx) which verifies PI payment of xxxxx A A A A A
xxxxx 6000047534 571673 12/28/2019 Credit Missing Employment doc (VOE) CRED 0007 1 Closed Borrower xxxxx, 1003 () and Sch E () list borrower as xxxxx operating under xxxxx name. No copy of xxxxx provided. Copy of Equifax report () lists Borrower xxxxx employed as xxxxx with xxxxx. Copy of verification in file does not match 1003 or tax returns. Unable to confirm borrowers xxxxx as required per DU.  03/09/2020 Verified housing payment history - xxxxx months of current and prior mortgage history paid 0x30 per credit report.; Verified reserves - DU required reserves of xxxxx (2). Verified post closing reserves of xxxxx.    Recd Current xxxxx License verification for xxxxx. A A A A A
xxxxx 6000047672 569846 12/22/2019 Compliance Missing Evidence of Re-disclosure and a valid COC for the total amount of the Closing Disclosure 10% Category fees ($) that increased by more than 10% from the amount disclosed on the prior Loan Estimate or Closing Disclosure.   TRID 0124 1 Closed Missing COC for the increased recording fees.--The total amount of 10% category fees (xxxxx) increased by more than 10% from the amount disclosed on the Loan Estimate sent on xxxxx, (xxxxx). The total amount of fees in this category cannot exceed (xxxxx) unless a new disclosure is provided and there is a valid changed circumstance associated with the re-disclosure. (12 CFR 1026.19(e)(3)(ii); 12 CFR 1026.19(e)(3)(iv)). 01/08/2020 Verified housing payment history - xxxxx months of 0x30 mtg history with 765/753 mid scores   Changed COC reason to New Information for the LE issued xxxxx and the finding cleared upon re-submission. A A A A A
xxxxx 6000047672 572567 12/31/2019 Compliance No evidence lender provided copies of written appraisals ECOA 0003 1 Closed No evidence lender provided copies of written appraisals. 01/07/2020 Verified housing payment history - xxxxx months of 0x30 mtg history with 765/753 mid scores   REcd evidence that the appraisal was provided to borrowers on xxxxx. A A A A A
xxxxx 6000047672 572571 12/31/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed xxxxx
1) Missing documentation to confirm xxxxx is encumbered by the following mortgage: xxxxx with mortgage payment of of xxxxx and mortgage amount of xxxxx.
2) Missing VOM for xxxxx. The mortgage is not reported on the credit report.
3) Missing documentation to confirm TIA of xxxxx/mo used in qualifying.
01/08/2020 Verified housing payment history - xxxxx months of 0x30 mtg history with 765/753 mid scores   Recd copy of CD and billing statement for xxxxx for property xxxxx.  Loan Closed xxxxx with loan amount of xxxxx and PITI of xxxxx. A A A A A
xxxxx 6000047538 569663 12/21/2019 Compliance Missing valid Change of Circumstance(s) TRID 0171 1 Closed COC for LE dated xxxxx appraisal fee increased.   01/07/2020 Established credit history - xxxxx years depth of credit with mid scores of xxxxx and xxxxx; Verified employment history - xxxxx on job 11 years 1 month per VVOE   Recd COC for Appraisal Fee increase.  Finding cleared upon re-submission w/COC. A A A A A
xxxxx 6000047538 572181 12/30/2019 Property Missing Price of Last Sale APPR 0027 1 Closed No sales price listed as subject was originally transferred xxxxx to xxxxx upon execution of xxxxx will and then transferred from xxxxx to xxxxx and xxxxx in xxxxx 01/07/2020 Established credit history - xxxxx years depth of credit with mid scores of xxxxx and xxxxx; Verified employment history - xxxxx on job 11 years 1 month per VVOE   Exception set in error. A A A A A
xxxxx 6000047538 572183 12/30/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing desk review to support value of xxxxx. FNMA Collateral risk score 3.7 (xxxxx to order) 01/07/2020 Established credit history - xxxxx years depth of credit with mid scores of xxxxx and xxxxx; Verified employment history - xxxxx on job 11 years 1 month per VVOE   ARR returned supporting value of xxxxx with a Risk Rating of Reasonable. A A A A A
xxxxx 6000047540 572334 12/31/2019 Credit Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information CRED 0103 1 Closed xxxxx
1) Missing documentation to confirm xxxxx is encumbered by the following mortgage: xxxxx with mortgage payment of of xxxxx and mortgage amount of xxxxx.
2) Missing VOM for xxxxx. The mortgage is not reported on the credit report.
3) Missing documentation to confirm xxxxx is paid off. The mortgage is reflected on the credit report. It appears it has been replaced by xxxxx.

 01/07/2020 Verified housing payment history - xxxxx months of 0x30 mtg history verified with qualifying mid score of xxxxx   Recd copy of the final executed CD for xxxxx which verifies Elevation CU was paid off and new mortgage of xxxxx w/PITIA of xxxxx.   A A A A A
xxxxx 6000047541 567529 12/16/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing Desk Review- FNMA UCDP provided evidence FNMA analysis was not performed for this non-UAD  form type, thus FNMA Collateral Risk Score was not provided (). (xxxxx to order) 12/30/2019 Verified employment history - Borrower has stable, long-term 30-years employment history with same employer.; Verified housing payment history - xxxxx-months 0x30 mortgage history evidenced on both Borrower and Co-Borrower's credit reports.; Low DTI - 36.26 DTI.; Low LTV/CLTV/HCLTV - 60.84 LTV/CLTV.   Recd ARR supporting value of xxxxx w/no variance. Risk Rating Reasonable. A A A A A
xxxxx 6000047543 573381 01/03/2020 Credit Missing Source of Funds CRED 0108 1 Closed Missing non borrowing spouse's updated bank statement or transaction history to support the large transfers.  01/24/2020 Verified credit history - No history of late payments.   Exception is cleared with the attached  copy of non borrowing spouse's bank statement. A A A A A
xxxxx 6000047546 573385 01/03/2020 Credit Tax Returns/Transcripts are Insufficient CRED 0087 1 Closed Missing 1040 tax extension. 01/07/2020 Verified employment history - Co-borrower has stable, long-term employment history with same employer.; Verified housing payment history - 209-months 0x30 mortgage history evidenced on credit report.; Verified reserves - 42.55-months reserves.   Recd copy of the 4868 (Extension) A A A A A
xxxxx 6000047552 573426 01/03/2020 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 1 Closed The final 1003 reflects inaccurate property taxes on the borrower's primary residence. 01/13/2020     01/13/19 Finding Cleared.  Variance does not cause the DTI to exceed the allowable 3% Tolerance. A A A A A
xxxxx 6000047553 567136 12/16/2019 Compliance No evidence lender provided copies of written appraisals ECOA 0003 1 Closed No evidence lender provided copies of written appraisals. 01/07/2020     Recd verification of appraisal delivery. A A A A A
xxxxx 6000047553 572978 01/02/2020 Property Appraisal is Incomplete APPR 0002 1 Closed Missing the Operating Income Statement for the subject as rental income for the subject was used to qualify. 01/07/2020     Rent schedule is included on the 1025.  A A A A A
xxxxx 6000047558 571699 12/28/2019 Credit Missing Employment doc (VVOE) CRED 0006 1 Closed Missing 3rd Party verification of employment. 01/07/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher ; Verified housing payment history - Mortgage history paid 0x30 per credit report.    Recd re-verification of Employment. A A A A A
xxxxx 6000047558 571713 12/28/2019 Credit Unacceptable Mortgage History CRED 0001 1 Closed Per DU borrower has mortgage not reporting on credit report. DU required verification that mortgage had not been 60 days late in the prior 12 months. Terms of mortgage were not provided and no payment history or balance was confirmed.  01/15/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher ; Verified housing payment history - Mortgage history paid 0x30 per credit report.  Recd from lender: Process Cert is for a credit supplement.  We have documented the information received by the client and by us on a Conf. call.  The processor certification is signed proof of the payment terms.

**Finding remains processor certification is not sufficient to document the new loan amount and loan terms.  Missing an updated credit supplement from the credit bureau or a copy of the Note.

Recd from lender:account does not have a history to report.  The client just confirmed w/us through the Credit Inquiry Explanation Letter that they opened a new account that corresponds w/the credit pull.  Process cert gathered in process confirms the terms and that the first payment has not yet been made, therefore no payment history remains.

**Finding remains processor certification is not sufficient to document the new loan terms.  Missing an updated credit supplement from the credit bureau or a copy of the Note. 		 Recd PC Credit report reflecting the mortgage confirming terms and payment history A A A A A
xxxxx 6000047559 571930 12/30/2019 Credit Missing Employment doc (VVOE) CRED 0006 1 Closed Missing third party verification of employment. 03/09/2020 Established Landlord history - Borrower is purchasing a second investment property.  Per tax returns he has landlord history of at least 2 years.; Low LTV/CLTV/HCLTV - LTV of 70% less than maximum allowed of 85%.; Low DTI - DTI of 25.91% lower than 36%.    Recd third party verification of employment. A A A A A
xxxxx 6000047559 571941 12/30/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing a copy of the  statement to confirm which property lien is attached to.  Lender applied it to the borrower's primary residence, if it is associated with the additional REO it would affect AUS reserve calculation. 01/07/2020 Established Landlord history - Borrower is purchasing a second investment property.  Per tax returns he has landlord history of at least 2 years.; Low LTV/CLTV/HCLTV - LTV of 70% less than maximum allowed of 85%.; Low DTI - DTI of 25.91% lower than 36%.    01/07/20 Recd copy of Lexis Nexis Search that verifies that the lien. A A A A A
xxxxx 6000047559 572050 12/30/2019 Credit Purchase Contract is Deficient CRED 0085 2 Acknowledged Missing Purchase Contract.  File does contain a copy of the Escrow Instructions signed by all parties.   Established Landlord history - Borrower is purchasing a second investment property.  Per tax returns he has landlord history of at least 2 years.; Low LTV/CLTV/HCLTV - LTV of 70% less than maximum allowed of 85%.; Low DTI - DTI of 25.91% lower than 36%.  Recd duplicate copy of the executed escrow instructions which verifies sales price.   EV2 Escrow instructions are executed by all parties and confirm sales price.
Mitigated Risk: EV2 Escrow instructions are executed by all parties and confirm sales price.		 B B B B B
xxxxx 6000047561 569395 12/20/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Mortgage statements on REO property owned are incomplete. Top of documents have been cut off. Statements are missing the property address.  01/21/2020 Verified housing payment history - Mortgage history paid 0x30 per credit report. ; Verified credit history - No derogatory credit.  1/14/2020. Lender provided duplicate copies of mortgage statements. Lender did not address the incomplete statements in original file which are missing the Property Address and Account Number. No HOI documents in file list these mortgages in mortgagee section. Statements contain no account number and cannot be accurately matched to credit report.  Cleared, agree with lender response: We have verified the PITIA was included in DTI by adding taxes and insurance to payment reported on credit. We do not obtain statements to verify as we take a conservative approach.  A A A A A
xxxxx 6000047561 569435 12/20/2019 Credit Sales Price on HUD-1 does not agree with Purchase Contract HUD 0014 1 Closed Missing Sales Contract. Per appraisal subject was not listed on MLS and there was a contract. No contract provided for review.  01/15/2020 Verified housing payment history - Mortgage history paid 0x30 per credit report. ; Verified credit history - No derogatory credit.  Lender comments state contract was attached.
**Document received labeled as Purchase Contract is not in PDF format and we are unable to review.		 Recd copy of fully executed purchase agreement. A A A A A
xxxxx 6000047561 569569 12/20/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk review required to support value. FNMA Collateral Risk Score 3.7. (IB to order) 01/07/2020 Verified housing payment history - Mortgage history paid 0x30 per credit report. ; Verified credit history - No derogatory credit.    Desk review returned supporting value with a Risk Ranking of Excellent. A A A A A
xxxxx 6000047561 569592 12/21/2019 Credit Non-Arms Length Transaction CRED 0026 1 Closed Possible Non-Arms Length transaction not addressed in file. Seller of Subject property per appraisal is the same seller shown on recent purchase of other property. This same person is also listed as the Tenant on Lease. Possible Arms Length nature of transaction should be documented/explained.  01/15/2020 Verified housing payment history - Mortgage history paid 0x30 per credit report. ; Verified credit history - No derogatory credit.  Lender comments note difference in names, however no copy of subject sales contract provided to compare with Lease. Document received labeled as Purchase Contract is not in PDF format and we are unable to review.
** Missing copy of subject sales contract in PDF Format to confirm these are not the same individual. 		 Recd copy of fully executed purchase agreement.  Verified variance is seller / lessee names. A A A A A
xxxxx 6000047561 569594 12/21/2019 Credit Missing Evidence of sale of property owned HUD 0011 1 Closed Tax returns list investment properties which were not disclosed on final 1003. No explanation of the disposition of the these properties were provided. Unable to confirm the number of financed properties.  01/14/2020 Verified housing payment history - Mortgage history paid 0x30 per credit report. ; Verified credit history - No derogatory credit.    Lender provided Property Reports on all properties confirming that these properties were sold.  A A A A A
xxxxx 6000047561 569596 12/21/2019 Credit Income Calculation Discrepancy CRED 0084 1 Closed Borrower had losses which were not considered by lender. DU submission does not accurately reflect borrowers income.  01/14/2020 Verified housing payment history - Mortgage history paid 0x30 per credit report. ; Verified credit history - No derogatory credit.    Cleared Exception set in error.  A A A A A
xxxxx 6000047562 570516 12/25/2019 Credit Income Documentation is Insufficient CRED 0082 1 Closed Missing copy of Legible note. 01/07/2020     Recd Transfer to Payee with escrow instructions. A A A A A
xxxxx 6000047564 570510 12/24/2019 Credit Underwriting Loan Approval is Deficient APRV 0010 1 Closed Missing evidence of Final CD documenting disclosed terms and conditions for new primary purchase. 01/07/2020 Verified employment history - Borrower has stable, long-term employment history with same employer.; Low LTV/CLTV/HCLTV - 71.22 LTV/CLTV.; Verified housing payment history - 0x30 mortgage history evidenced on credit report.; Verified reserves - PITIA reserves above minimum by 6 months or higher    Recd copy of the Final CD for the borrowers primary residence which Verifies PITIA. A A A A A
xxxxx 6000047564 574084 01/07/2020 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed Review DTI of 50.99%, Approved DTI 49.505% Variance is due to increased PITIA from the  CD for the borrowers primary residence.  Due to increased DTI re-submission is required. 01/14/2020 Verified employment history - Borrower has stable, long-term employment history with same employer.; Low LTV/CLTV/HCLTV - 71.22 LTV/CLTV.; Verified housing payment history - 0x30 mortgage history evidenced on credit report.; Verified reserves - PITIA reserves above minimum by 6 months or higher    Exception set in error, HOA fee was entered twice. A A A A A
xxxxx 6000047565 570534 12/25/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required-  FNMA UCDP report returned no findings for this non-UAD form type. (IB to Order) 01/07/2020     Desk review returned supporting value with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047565 573438 01/03/2020 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed Condition on the AUS has not been satisfied.  Document used to exclude account is insufficient.  The screenprint of the current balance does not reflect a date on it, unable to confirm whether this is before or after credit report data.   01/13/2020     Recd updated 1003/1008 including the payment.  Variance is less than 3% and is with in tolerance with the account payment included. A A A A A
xxxxx 6000047566 572477 12/31/2019 Property Post Closing Desk Review Appraisal Variance is not within tolerance APPR 0035 1 Closed Desk Review returned w/a reduced value.  Variance is not w/in the acceptable tolerance. 01/03/2020 Established credit history - 15 years depth of credit   Cleared acceptable tolerance updated.  A A A A A
xxxxx 6000047567 571026 12/26/2019 Credit Final 1003 Application is Incomplete APP 0002 2 Acknowledged Final 1003 is missing the borrowers employment address and phone number.    Low LTV/CLTV/HCLTV - LTV/CLTV of 29.64%. ; Verified reserves - PITIA reserves above minimum by 6 months or higher    Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000047571 568036 12/17/2019 Credit Underwriting Loan Approval is Deficient APRV 0010 1 Closed Missing evidence of disclosed Final CD for primary refinance documenting Cash-Out for funds to be applied to subject investment purchase, per AUS and Loan Approval.  01/13/2020 Low DTI - 44.48 DTI.   Recd copy of final executed CD verifying cash proceeds. A A A A A
xxxxx 6000047572 573462 01/03/2020 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed 1. Missing verification of the current HOA dues on REO.
 Review used out of date figures from the tax return.
2. Missing verification of the current taxes on additional REO.  The screenshots in the file were printed more than a year prior to closing.
3. Missing documentation for the miscellaneous obligations associated with additional REO, as reflected on the final 1003.  The only document related to this property is the mortgage statement which includes escrows.		 01/08/2020 Low LTV/CLTV/HCLTV - Low LTV of 53.15%.; Verified reserves - File contains proof of 25 months of verified reserves.   Per FNMA/FHLMC selling guides 1040 Sch E is acceptable for documentation for qualifying non subject taxes, insurance, and expenses.  A A A A A
xxxxx 6000047572 573463 01/03/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing desk review to support value.  FNMA Collateral Risk Score 2.8. (IB to order) 01/08/2020 Low LTV/CLTV/HCLTV - Low LTV of 53.15%.; Verified reserves - File contains proof of 25 months of verified reserves.   ARR returned supporting value with a risk ranking of reasonable. A A A A A
xxxxx 6000047675 568631 12/19/2019 Credit Hazard Insurance Coverage Amount is Insufficient HAZ 0004 1 Closed Hazard coverage  is insufficient to meet the lower of Note amount or 80% of cost to rebuild per appraisal. Insurance company did not provide a Cost Estimator to confirm coverage amount. No evidence of extended coverage or Guaranteed replacement coverage noted on evidence of insurance. Based on documents in file hazard coverage is insufficient.

 01/07/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher    Recd updated insurance deck page reflecting updated coverage. A A A A A
xxxxx 6000047675 568739 12/19/2019 Credit Missing Evidence of sale of property owned HUD 0011 1 Closed Per LOE borrower provided a final settlement statement to document sale of property. No copy of settlement statement provided for review.  01/13/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher    Recd copy of the Final Settlement Statement. A A A A A
xxxxx 6000047675 568755 12/19/2019 Credit Income Documentation is Insufficient CRED 0082 1 Closed Income documentation is deficient for the following:
1) 1040 return lists a business entity which is not addressed in the file. Missing K1s.
2) Lender approval required borrower W2. No W2 provided in file.
3) Lender approval required P&L/Bal Sheet. No P&L/Bal Sheet provided. 		 01/14/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher    1) Review concurs. No income was used. Not required per agency. 2) Lender provided W2. 3) DU approval required no P&L. EXCEPTION CRED 0082.  A A A A A
xxxxx 6000047675 568772 12/19/2019 Credit Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information CRED 0103 1 Closed Per lender approval property tax information for non-subject properties were required. Missing tax documentation for non-subject properties.  01/14/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher    Lender provided explanation that they used tax amounts on 1040 Sch E. EXCEPTION CRED 0103 CLEARED.  A A A A A
xxxxx 6000047675 568889 12/19/2019 Credit Back-end Ratio exception (DTI) CRED 0004 1 Closed DU approved DTI of 46.41%. Review DTI of 85.35% which exceeds agency guidelines.  No income worksheets provided to justify lender income used for qualifying.  01/14/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher    Re-review of file and newly provided W2. Review concurs with lender income. Recalculated DTI of 45.24%. Lender income calculations provided. Non material variance from approval DTI. EXCEPTION CLEARED.  A A A A A
xxxxx 6000047676 567398 12/16/2019 Credit Income Documentation is Insufficient CRED 0082 1 Closed Missing paystubs or a VOE with income verification for second job as required per AUS. 01/15/2020   Recd WK# VVOE.
**Finding remains, missing complete VOE or pay stubs as required.  		 Recd pay stubs. A A A A A
xxxxx 6000047676 572191 12/30/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed 1) Missing copy of the statement for HELOC on additional REO 01/21/2020   Recd from lender: Statement for this account is not required.
** Statement is required to verify that the liability is matched to the correct REO.  		 Agree, review used payment from the credit report for qualifying DTI. A A A A A
xxxxx 6000047676 572193 12/30/2019 Credit Missing Evidence of sale of property owned HUD 0011 1 Closed Missing copies of the final HUD-1 and/or CD for the properties reflected on the borrowers 1040s but excluded from the 1003. 01/08/2020     Recd copy of HUD from the sale of properties. A A A A A
xxxxx 6000047676 572194 12/30/2019 Credit Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information CRED 0103 1 Closed 1) Missing verification of current taxes and insurance for additional REO;
2) Missing verification of Insurance for additional REO.		 01/08/2020     Review utilized the 1040s to calculate the taxes and insurance for additional REO A A A A A
xxxxx 6000047676 572198 12/30/2019 Credit Unacceptable Mortgage History CRED 0001 1 Closed Missing VOM for lien on additional REO.  Account is not reflected on the credit reports.   01/08/2020     Mortgage located on the credit report in the Inactive trades reflecting that the account was transferred.   A A A A A
xxxxx 6000047676 572203 12/30/2019 Credit Back-end Ratio exception (DTI) CRED 0004 1 Closed UPDATED DTI 50.54% exceeds the allowable tolerance of 3%-  DTI was updated using the Revised PITI per the CD provided for additional REO.

Approved DTI 39.80%, Review DTI 53.86%, Variance is due to rental calculation for additional REO.  		 01/21/2020   Recd CD for the refinance of additional REO. which confirmed New loan amount and PITI. Recalculated rental income based on actual days in service vs 12 mths average.  Revised DTI 37.15 is with in acceptable tolerance of the lender approved DTI of 39.80% A A A A A
xxxxx 6000047676 572204 12/30/2019 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed UPDATED DTI 50.54% exceeds the allowable tolerance of 3%-  DTI was updated using the Revised PITI per the CD provided for additional REO.

Approved DTI 39.80%, Review DTI 53.86%, Variance is due to rental calculation for additional REO.  		 01/21/2020     Recalculated rental income based on actual days in service vs 12 mths average.  Revised DTI 37.15 is with in acceptable tolerance of the lender approved DTI of 39.80% A A A A A
xxxxx 6000047574 567252 12/16/2019 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 2 Acknowledged Years Employed in Field of Work  was left blank.   Verified employment history - Job stability of 5 years or more ; Established credit history - 25 year credit depth, excellent payment history includes 4 AA mortgages; Verified reserves - PITIA reserves above minimum by 6 months or higher    Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000047574 569672 12/21/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required-  FNMA UCDP report returned no findings for this non-UAD form type. 01/01/2020 Verified employment history - Job stability of 5 years or more ; Established credit history - 25 year credit depth, excellent payment history includes 4 AA mortgages; Verified reserves - PITIA reserves above minimum by 6 months or higher    Desk review returned supporting value with a Risk Rating of Excellent. A A A A A
xxxxx 6000047575 573020 01/02/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing Desk Review to support value.  FNMA Collateral Risk Score 4.3 01/07/2020 Established credit history - 18 years depth of credit   Desk review returned supporting value with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047577 569013 12/19/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing proof of tax, insurance and mortgage statement for primary residence as required per lender approval. Per Loan Estimate borrower was refinance this same property. Missing copy of final Closing Disclosure and/or Note confirming new PITI on this property.  01/13/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher ; Verified housing payment history - Current and prior mortgage history reporting 0x30 per credit report.    Recd response from lender that refinance did not close.  Copy of current mortgage statement, proof of taxes, and insurance provided. A A A A A
xxxxx 6000047577 572982 01/02/2020 Compliance Missing  Change of Circumstance Disclosure COMP 0018 1 Closed Material Compliance Finding: A Lender Credit for Excess Charges, Principal Reduction for Excess Charges, and general or specific lender credit increases were applied to the total fee variance. between the baseline disclosure and the actual fee amounts. Since the lender credits and principal reduction (if applicable) are less than the total fee variance amount, they are not sufficient to cure the variance.
 01/13/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher ; Verified housing payment history - Current and prior mortgage history reporting 0x30 per credit report.    Cleared exception set in error.  Loan is investment transaction and is not applicable to TRID testing. A A A A A
xxxxx 6000047579 571722 12/28/2019 Credit Income Documentation is Insufficient CRED 0082 2 Acknowledged Missing complete copy of SS Award Letter. The one provided in file is cut off on the right side.    Verified housing payment history - 14 months of 0x30 mtg payment   EV2 Bank Statement verifies direct deposit which meets the LP requirement.
Mitigated Risk: EV2 Bank Statement verifies direct deposit which meets the LP requirement.		 B B B B B
xxxxx 6000047580 570574 12/25/2019 Credit Missing Employment doc (VVOE) CRED 0006 1 Closed Missing 3rd party verification of employment status as required per DU.  01/10/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher ; Verified credit history - FICO score above minimum by 20 points or higher.  No derogatory credit.; Verified housing payment history - Current and prior mortgage history reviewed with 0x30 payment history per credit report.  Attached documentation is insufficient to satisfy the exception Recd 3rd party verification of employment status A A A A A
xxxxx 6000047580 570583 12/25/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing documentation of PITI expenses on non subject properties \. Missing documentation of P&I payment, taxes, insurance and HOA or provided current mortgage statement confirming tax and insurance expenses are escrowed. Review used stated amount from 1003/credit report, pending verification. 01/10/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher ; Verified credit history - FICO score above minimum by 20 points or higher.  No derogatory credit.; Verified housing payment history - Current and prior mortgage history reviewed with 0x30 payment history per credit report.    Per FNMA selling guide 1040 Sch E is acceptable for documentation for qualifying non subject taxes and insurance.  A A A A A
xxxxx 6000047580 570590 12/25/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required- FNMA UCDP report reflects no analysis was performed for this non-UAD for type.  01/07/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher ; Verified credit history - FICO score above minimum by 20 points or higher.  No derogatory credit.; Verified housing payment history - Current and prior mortgage history reviewed with 0x30 payment history per credit report.    ARR returned supporting value with a Risk Rating of Reasonable. A A A A A
xxxxx 6000047581 566792 12/14/2019 Credit Seller Contributions exceed 2% CRED 0081 1 Closed Seller Contributions exceed 2% per Final CD. 01/13/2020 Verified employment history - Borrower has stable, long-term employment history with same employer.; Verified housing payment history - 0x30 mortgage history evidenced on credit report.; Verified reserves - PITIA reserves above minimum by 6 months or higher    Seller Credit corrected.  Per contract seller was to pay the owners title policy.  Excluding the owners policy is w/in allowable 2% A A A A A
xxxxx 6000047583 567777 12/17/2019 Compliance Estimated Total Minimum/Maximum Payment Amount does not match the Disclosed Closing Disclosure Projected Payments Table (12 CFR 1026.37(b)(3)) TRID 0092 1 Closed Projected payments table reflects that Taxes & Insurance are escrowed however no escrows were collected - The Estimated Total Maximum Payment Amount in column 1 of the Disclosed Closing Disclosure Projected Payments Table does not match the value in the System Calculated Projected Payments Table.  01/13/2020 Verified housing payment history - 0x30 mortgage payment history on current mortgages per credit report.    Investment Transaction TRID is not applicable. A A A A A
xxxxx 6000047583 572207 12/30/2019 Credit Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information CRED 0103 1 Closed Missing evidence of updated hazard insurance premium amount and verification premium paid current.  01/07/2020 Verified housing payment history - 0x30 mortgage payment history on current mortgages per credit report.    Recd copy of the insurance deck page. A A A A A
xxxxx 6000047583 572223 12/31/2019 Credit Missing Employment doc (VVOE) CRED 0006 1 Closed Missing verification of borrower and co-borrower business license.
 01/07/2020 Verified housing payment history - 0x30 mortgage payment history on current mortgages per credit report.    Recd re-verification of Employment. A A A A A
xxxxx 6000047583 572275 12/31/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required-  FNMA UCDP report returned no findings for this non-UAD form type.
 01/07/2020 Verified housing payment history - 0x30 mortgage payment history on current mortgages per credit report.    Desk review returned supporting value with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047583 572468 12/31/2019 Credit Credit Documentation is Insufficient CRED 0093 1 Closed Missing verification of borrower mortgage on primary residence. 01/13/2020 Verified housing payment history - 0x30 mortgage payment history on current mortgages per credit report.  Recd from lender: Please see the following statement.  The error on the 1003 is immateral as the payment on this property is lower than was was put on the 1003. Recd copy of Statement.  Sch of REO updated to reflect documented PITI. A A A A A
xxxxx 6000047583 572532 12/31/2019 Credit Asset Documentation is Insufficient CRED 0083 1 Closed Missing 2 months asset statements.  01/13/2020 Verified housing payment history - 0x30 mortgage payment history on current mortgages per credit report.  Recd from lender: FNMA only requires a recent monthly statement to an IRA account. Agree w/lender response.  A A A A A
xxxxx 6000047590 572952 01/02/2020 Credit QM/ATR Failure QMATR 0005 1 Closed Review excluded Bona Fide Discount --The loan fees exceed the (QM)  fee limit, which is 3% of the Total Loan Amount. (12 CFR 1026.43(e)(3). 01/07/2020     01/07/20 Recd copy of the the appraisal invoice.  Fee was paid to the provider and affiliate.  Finding cleared upon re-submission. A A A A A
xxxxx 6000047677 572363 12/31/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing evidence of PITIA on additional REO.  01/08/2020 Verified reserves - Borrowers' PITIA reserves exceed the minimum required by 9 months.; Low LTV/CLTV/HCLTV - LTV of 75% < 85%.   01/07/20 Per agency tax return is acceptable for documentation for qualifying non subject taxes and insurance.  A A A A A
xxxxx 6000047677 572384 12/31/2019 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed Co-borrower's credit report reflects a bankruptcy that has not been addressed.  01/08/2020 Verified reserves - Borrowers' PITIA reserves exceed the minimum required by 9 months.; Low LTV/CLTV/HCLTV - LTV of 75% < 85%.   01/07/20 Public Records are clear for both borrowers. A A A A A
xxxxx 6000047677 572507 12/31/2019 Property Missing Certificate of Occupancy PROP 0012 1 Closed Missing Certificate of Occupancy. 01/08/2020 Verified reserves - Borrowers' PITIA reserves exceed the minimum required by 9 months.; Low LTV/CLTV/HCLTV - LTV of 75% < 85%.   01/07/20 Cleared COO is not required per Agency. A A A A A
xxxxx 6000047591 572255 12/31/2019 Credit Missing Employment doc (VVOE) CRED 0006 1 Closed Missing Employment doc (VVOE) for B1 w/in 120 days from closing. 01/13/2020 Verified reserves - Verified reserves > reserves required.; Verified employment history - 4+ yrs employment verified.   01/13/19 Recd CPA Letter dated w/i 120 days from closing. A A A A A
xxxxx 6000047591 572260 12/31/2019 Credit Back-end Ratio exception (DTI) CRED 0004 1 Closed Tape DTI 40.53%; Review 66.31%.  Variance is due to review excluding rental income on subject property due to missing leases and Appraisal is missing Operating Income Statement for use. 01/13/2020 Verified reserves - Verified reserves > reserves required.; Verified employment history - 4+ yrs employment verified.   01/13/19 Recd copy of appraisal with the Rent Schedule included on supporting Market Rent. A A A A A
xxxxx 6000047591 573437 01/03/2020 Property Appraisal is Incomplete APPR 0002 1 Closed Missing the Operating Income Statement for subject property. 01/13/2020 Verified reserves - Verified reserves > reserves required.; Verified employment history - 4+ yrs employment verified.   01/13/19 Recd copy of appraisal with the Rent Schedule included supporting Market Rent. A A A A A
xxxxx 6000047592 572312 12/31/2019 Credit Tax Returns/Transcripts are Insufficient CRED 0087 1 Closed Missing tax returns and/or reo leases.   01/08/2020 Verified reserves - Verified reserves > reserves required.   01/08/20 Recd copies of the two years. A A A A A
xxxxx 6000047592 572313 12/31/2019 Credit Back-end Ratio exception (DTI) CRED 0004 1 Closed UPDATED - Review DTI of 52.95% exceeds the approved DTI of 47.04%. Variance is in the net rental calculations.

ORIGINAL - Tape DTI 47.043%; Review 134.57%.  Variance is due to Missing tax returns and/or reo leases.  		 01/21/2020 Verified reserves - Verified reserves > reserves required. 01/14/20 Recd lenders rental income calculation for non-subject REO.

**Finding Remains lender miss calculated monthly rent. 		 01/21/20 Review recalculated rental income which resulted in Revised DTI 42.70%. A A A A A
xxxxx 6000047594 568559 12/18/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required- Agency collateral underwriter score report returned no findings. 01/07/2020 Verified employment history - 4+ yrs employment history verified.; Verified housing payment history - 17-months 0x30 mortgage history evidenced on credit report.; Verified reserves - Verified reserves > reserves required; Low LTV/CLTV/HCLTV - 66.60 LTV/CLTV.   01/07/20 3rd Party Desk Review returned supporting value with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047597 572586 01/01/2020 Credit Income Calculation Discrepancy CRED 0084 1 Closed The income used for qualifying is not supported by the borrowers pay stub.   01/14/2020     01/14/20 Recd VOE confirming borrowers current base wages. A A A A A
xxxxx 6000047597 573387 01/03/2020 Credit Undisclosed or Excluded Debt CRED 0086 1 Closed Missing documentation to support the omission of the debts. 01/14/2020     01/14/20 Borrower is an Authorized User on the account noted and is not responsible for the payments.  Updated review DTI excluding Authorized User Accounts is 41.69% which is with in 1% of the approved DTI of 42.14% A A A A A
xxxxx 6000047597 573399 01/03/2020 Credit Back-end Ratio exception (DTI) CRED 0004 1 Closed Review DTI of 48.60% exceeds the approved DTI of 42.14%.  Variance is due to review including debts omitted by the lender.  Final DTI pending. 01/14/2020     01/14/20 Updated review DTI excluding Authorized User Accounts is 41.69% which is with in 1% of the approved DTI of 42.14% A A A A A
xxxxx 6000047597 573400 01/03/2020 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed Review DTI of 48.60% exceeds the approved DTI of 42.14%. Variance is due to review including debts omitted by the lender. Final DTI pending. 01/14/2020     01/14/20 Updated review DTI excluding Authorized User Accounts is 41.69% which is with in 1% of the approved DTI of 42.14% A A A A A
xxxxx 6000047599 571771 12/29/2019 Compliance Missing PUD Rider DEED 0007 1 Closed Property is a PUD per appraisal. No PUD Rider to mortgage.  01/27/2020 Verified reserves - 21-months reserves.; Low DTI - 40.19 DTI.; Verified housing payment history - 80-months 0x30 mortgage history evidenced on credit report.   01/27/20 Recd executed copy of corrected Mortgage with PUD Rider.
 A A A A A
xxxxx 6000047599 571774 12/29/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required 12/31/2019 Verified reserves - 21-months reserves.; Low DTI - 40.19 DTI.; Verified housing payment history - 80-months 0x30 mortgage history evidenced on credit report.   Desk review received PTQC A A A A A
xxxxx 6000047601 573209 01/03/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required 01/07/2020     01/07/20 3rd Party Desk Review returned supporting value with a Risk Rating of Reasonable. A A A A A
xxxxx 6000047602 572860 01/02/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required. 01/07/2020 Verified reserves - File contains proof of 64.69 months of verified reserves.; Verified employment history - 14+ yrs verified employment history for B1 with 15+ yrs verified employment for B2   01/02/20 Desk review returned supporting value with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047603 572371 12/31/2019 Compliance Missing Notary on Mortgage/DOT DEED 0022 1 Closed Notary page is dated prior to the date of the Deed of trust. 01/08/2020     01/08/20 Cleared Review used the later date of consummation. A A A A A
xxxxx 6000047604 573336 01/03/2020 Credit Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information CRED 0103 1 Closed Missing verification of HOA dues. 01/14/2020     01/14/20 HOA Dues verified using tax return. A A A A A
xxxxx 6000047604 573338 01/03/2020 Credit Back-end Ratio exception (DTI) CRED 0004 1 Closed Approved DTI 44%, Review DTI 58.15%- Variance appears to be in the net rental income calculations.  Final income review is pending receipt of verification of HOA dues for all properties.  01/21/2020   01/14/20 Reviewed tax returns to confirm HOA fees.  There is still a variance in the DTI calculation which exceeds the allowable tolerance. 01/21/20 Finding cleared, Review captured annual pay frequency instead of monthly. A A A A A
xxxxx 6000047604 573343 01/03/2020 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed Review DTI of 56.79% exceeds the allowable tolerance for AUS approval.  AUS approved DTI 44%. 01/21/2020     01/21/20 Finding cleared, Review captured annual pay frequency instead of monthly. A A A A A
xxxxx 6000047605 573183 01/03/2020 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing verification of current Insurance and HOA Dues for non-subject REOs. 01/07/2020     01/07/20 Per agency selling guide tax return is acceptable for documentation for qualifying non subject taxes and insurance.  A A A A A
xxxxx 6000047605 573184 01/03/2020 Credit Missing Evidence of sale of property owned HUD 0011 1 Closed Missing documentation to verify the current disposition of property not listed on the application but reflected on the borrowers most recent tax return. 01/07/2020     01/07/20 Recd copy of 3rd Party documentation  which verifies that the property was sold. A A A A A
xxxxx 6000047609 571763 12/29/2019 Credit Unacceptable Mortgage History CRED 0001 1 Closed No documentation of payment of past due amount was provided. No explanation of current mortgage delinquency was provided.  01/08/2020 None - No significant compensating factors.    01/07/20 Recd copy of billing statement that verifies that the account is current. A A A A A
xxxxx 6000047609 571797 12/29/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing verification of PITIA expenses for non-subject rental properties.  01/08/2020 None - No significant compensating factors.    01/07/20 Review updated and verified expenses with the most recent tax return. A A A A A
xxxxx 6000047609 571799 12/29/2019 Credit Missing proof property ownership is free and clear of debt/liens CRED 0088 1 Closed Missing documentation confirming the non-subject REOs are owned free and clear. Also missing documented tax and insurance expenses. Review used stated amounts on the application. 01/08/2020 None - No significant compensating factors.    01/07/20 Per agency,tax return is acceptable for documenting a property is free and clear if no mortgage interest was claimed.  A A A A A
xxxxx 6000047610 570591 12/25/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required. 01/07/2020 Verified reserves - Post closing reserves > AUS required reserves.; Verified housing payment history - 517 months of current and prior mortgage history paid 0x30 per credit report.    01/07/19 3rd Party desk review returned supporting value with a Risk Rating of Reasonable. A A A A A
xxxxx 6000047610 570595 12/25/2019 Credit Missing Employment doc (VVOE) CRED 0006 1 Closed Missing 3rd party verification of employment. 01/13/2020 Verified reserves - Post closing reserves > AUS required reserves.; Verified housing payment history - 517 months of current and prior mortgage history paid 0x30 per credit report.    12/30/19 Recd business entity search. A A A A A
xxxxx 6000047611 570192 12/23/2019 Compliance Homeownership Counseling Disclosure was not provided within 3 business days of application RESPA 0031 1 Closed Initial application dated xxxxx.  Homeownership Counseling Disclosure found in file is dated xxxxx.   01/07/2020 Total Debt to Income Ratio- Approved DTI 45.85%, Review DTI 43.07%, Variance is less than 3% and considered Non-Material.   Investor Transaction, exception set in error. A A A A A
xxxxx 6000047679 569629 12/21/2019 Property Seller Name on Appraisal does not agree with Title, Sales Contract, and/or HUD-1. APPR 0010 1 Closed Seller Name per appraisal does not match name on Contract. 01/08/2020 Verified housing payment history - 343 months of current and prior mortgage history paid 0x30 per credit report. ; Verified reserves - Required reserves <  Verified post closing reserves. 01/08/20 "The Variance between the Contract, Title, and appraisal is minimal".  01/08/20 Contract and title are an exact match, appraisal variance is non-material. A A A A A
xxxxx 6000047679 569636 12/21/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required. 01/06/2020 Verified housing payment history - 343 months of current and prior mortgage history paid 0x30 per credit report. ; Verified reserves - Required reserves <  Verified post closing reserves.   01/06/20 3rd Party desk review returned supporting value with no variance and a Risk Rating of Excellent. A A A A A
xxxxx 6000047679 569674 12/21/2019 Credit Missing Employment doc (VOE) CRED 0007 1 Closed Missing LOE from borrower explaining employment gap greater than 30 days. Most recent 24 months of employment history is not verified.  01/08/2020 Verified housing payment history - 343 months of current and prior mortgage history paid 0x30 per credit report. ; Verified reserves - Required reserves <  Verified post closing reserves.   01/08/20 Cleared AUS only required a VVOE, pay stub, and previous years. A A A A A
xxxxx 6000047679 569680 12/21/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing documentation of PITIA expenses on non subject properties. 01/08/2020 Verified housing payment history - 343 months of current and prior mortgage history paid 0x30 per credit report. ; Verified reserves - Required reserves <  Verified post closing reserves.   01/07/20 Recd mortgage billing statement, HOI, title policy, and property tax billing statement. Most recent year tax return used to verify taxes and insurance for all other REO. A A A A A
xxxxx 6000047613 570512 12/24/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required. 12/31/2019 Verified employment history - 25+ years employment history verified with same employer.; Verified housing payment history - 169-months 0x30 mortgage history evidenced on credit report.; Verified reserves - 63.74 -months reserves.; Low DTI - 32.18 DTI.   12/31/2019 Desk Review returned supporting value with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047618 572940 01/02/2020 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed AUS condition 12 not satisfied. 01/08/2020 Verified housing payment history - Credit report confirms 84 months satisfactory mortgage rating on open mortgage.   01/08/20 Recd credit supplement. A A A A A
xxxxx 6000047618 572947 01/02/2020 Credit Missing payment on "monthly payment for mortgage-related obligations". §1026.43(e)(2)(vi) QMATR 0011 1 Closed 1) EOI for borrowers primary residence expired. Missing updated documentation.

2) Billing statement for loan used for non-subject REO does not reference the collateral address.

3) EOI for non-subject REO is expired. Missing updated documentation.

4) Tax billing statement for non-subject REO is expired. Missing updated documentation.

01/08/2020 Verified housing payment history - Credit report confirms 84 months satisfactory mortgage rating on open mortgage.   01/07/20 Per agency, tax return is acceptable for documenting  taxes and insurance for non-subject property.  A A A A A
xxxxx 6000047622 569658 12/21/2019 Credit Seller Contributions exceed 2% CRED 0081 1 Closed Disclosed seller contribution appears to have been rounded down. 01/13/2020 Verified employment history - 23+ years verified employment history with same employer.; Verified housing payment history - 181-months 0x30 mortgage history evidenced on credit report.; Verified reserves - 9.55-months reserves.   12/26/19 Seller credit and the additional amount was seller paid owners title policy which was not included in the tolerance testing. A A A A A
xxxxx 6000047622 569661 12/21/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required. 01/06/2020 Verified employment history - 23+ years verified employment history with same employer.; Verified housing payment history - 181-months 0x30 mortgage history evidenced on credit report.; Verified reserves - 9.55-months reserves.   3rd Party Desk Review returned supporting value with no variance and a Risk Rating of Reasonable. A A A A A
xxxxx 6000047623 572353 12/31/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing verification of mortgage on borrowers primary residence. 01/08/2020 Verified employment history - 11 years verified employment history 01/07/20 Recd copy of the 1st payment letter for primary residence. Missing verification of taxes.  01/08/20 Recd copy of the CD for primary residence.  A A A A A
xxxxx 6000047623 572526 12/31/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required.
 01/07/2020 Verified employment history - 11 years verified employment history   01/02/2020 Desk Review returned w/a reduced value resulting in a variance of -2.99%.  Variance is w/in the acceptable 5% tolerance. A A A A A
xxxxx 6000047624 572997 01/02/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required. 01/08/2020 Low LTV/CLTV/HCLTV - 54.43%   01/08/20 3rd Party Desk Review returned supporting value with a risk rating reasonable. A A A A A
xxxxx 6000047625 567324 12/16/2019 Credit QM/ATR Failure QMATR 0005 1 Closed The loan fees exceed the (QM) fee limit, which is 3% of the Total Loan Amount. (12 CFR 1026.43(e)(3). 01/07/2020 Low DTI - DTI of 22.62%.; Verified employment history - B2 has been in the same line of work for 5 years   01/07/19 Recd breakdown of the appraisal fee paid to the provider / appraisal management fee fee paid to the affiliate.  Finding cleared upon re-submission. A A A A A
xxxxx 6000047626 572270 12/31/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing desk review. 01/07/2020 Verified credit history - 803 qualifying credit score. No derogatory credit. 148 months of current and prior mortgage history paid 0x30.; Verified reserves - Required reserves < Post closing verified reserves.   01/02/20 Desk review returned supporting value with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047627 570765 12/26/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing desk review. 01/07/2020     3rd Party Desk Review returned supporting value with a Risk Rating of Reasonable. A A A A A
xxxxx 6000047628 570714 12/26/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing desk review. 01/06/2020 Verified housing payment history - 357 months of current and prior mortgage history paid 0x30 per credit report.    01/06/19 3rd Party Desk Review returned supporting value with no variance and a Risk Rating of Reasonable. A A A A A
xxxxx 6000047628 570865 12/26/2019 Credit Asset Documentation is Insufficient CRED 0083 1 Closed Missing copy of Trust Agreement confirming borrower has full access funds held in Trust.  01/13/2020 Verified housing payment history - 357 months of current and prior mortgage history paid 0x30 per credit report.    01/13/19 Bank Statement is in the name of the Borrower, and the trust is listed as an additional entity on the account along with the borrower.  Finding cleared. A A A A A
xxxxx 6000047681 571894 12/30/2019 Credit Missing Employment doc (VVOE) CRED 0006 1 Closed Missing 3rd Party VOE  01/07/2020 Low LTV/CLTV/HCLTV - Low LTV of 59.99%.; Verified reserves - File contains proof of 43.64 months of verified reserves.   Recd business entity search. A A A A A
xxxxx 6000047631 569300 12/20/2019 Compliance Missing lender letter providing option for an active property in flood zone the option to escrow the flood premiums FLOOD 0006 1 Closed Missing letter for Flood insurance to be escrowed. 01/13/2020 Net tangible benefit - Interest rate is decreasing by 1.115%.; Verified credit history - Borrowers mid FICO scores of 802/798 with no history of late payments.   12/26/19 Recd copy of executed Flood notice. A A A A A
xxxxx 6000047632 571470 12/27/2019 Compliance APN Number and/or Legal Descriptions do not match security instrument COLL 0002 1 Closed Parcel ID number of on Deed of Trust is xxxxx. Parcel # on Appraisal is xxxxx. Based on Tax Cert number on Appraisal is GEO ID # and number on Deed of Trust is Account number.  01/08/2020 Verified credit history - 797 qualifying credit score. No derogatory credit. ; Verified reserves - Post closing reserves > required reserves  01/07/20 Posted rebuttal states both numbers correspond with the property. 01/07/20 Cleared, verified that the legal description matches on all documents. A A A A A
xxxxx 6000047632 571482 12/27/2019 Credit Missing Employment doc (VVOE) CRED 0006 1 Closed Missing VOE dated 120 days prior to Note date. 03/09/2020 Verified credit history - 797 qualifying credit score. No derogatory credit. ; Verified reserves - Post closing reserves > required reserves    01/07/20 Recd re-verification of employment. A A A A A
xxxxx 6000047682 571687 12/28/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required- XXXXX evidence XXXXX Collateral Risk Score analysis of 5. Missing desk review to support value of XXXXX  12/31/2019 Verified employment history - Co-Borrower has stable, long-term XXX years employment history with same employer.; Verified housing payment history - XXX-months 0x30 mortgage history evidenced on credit report.; Verified reserves - XXXX months reserves.; Low LTV/CLTV/HCLTV - 60.00 LTV/CLTV.; Low DTI - 32.13 DTI.   Desk Review returned supporting value of XXXXX with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047638 571182 12/27/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing desk review to support value of XXXXX XXXXX Risk Score 0  12/31/2019     Desk Review returned w/a reduced value of XXXXX which is a variance of -1.02%.  Variance is w/in the acceptable 5% tolerance. A A A A A
xxxxx 6000047638 572817 01/02/2020 Credit Missing QM/ATR worksheet QMATR 0003 1 Closed Missing updated QM/ATR Worksheet 01/14/2020     Updated QM Findings dated XXXXX located in file. A A A A A
xxxxx 6000047683 569922 12/22/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing desk review to support value of XXXXX.  XXXX Collateral Risk Score 4.9.  01/06/2020     ARR returned supporting value of XXXXX with no variance and a Risk Rating of Reasonable. A A A A A
xxxxx 6000047640 572807 01/02/2020 Credit QM/ATR Failure QMATR 0005 1 Closed The loan fees XXXXX exceed the (QM) (Note Amount >=XXXXX) fee limit, which is 3% of the Total Loan Amount (XXXXX), the difference is (XXXXX). (12 CFR 1026.43(e)(3). 01/07/2020     Recd copy of Appraisal invoice with breakdown to the provider and/or Affiliate.  Finding cleared upon re-submission. A A A A A
xxxxx 6000047642 569971 12/23/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required-  XXXXX XXXXX report returned no findings for this non-UAD form type.  01/06/2020     ARR returned supporting value of XXXXX with no variance and a Risk Rating of Reasonable. A A A A A
xxxxx 6000047642 569972 12/23/2019 Credit Insufficient Verified Funds to Close CRED 0016 1 Closed Missing verification of sufficient liquid assets needed to close in the amount of XXXXX.  Total assets verified XXXXX. Short XXXXX. (Review included the following XXXXX EMD, XXXXX from XXXXX, XXXXX XXXXX (60% XXXXX), XXXXX 401K XXXXX (60% XXXXX). No evidence that the borrowers 401K was liquidated documented.

01/08/2020     Recd copy of the settlement statement from the sale of XXXXX netting XXXXX A A A A A
xxxxx 6000047643 572062 12/30/2019 Credit Missing Schedule of Real Estate Owned APP 0005 2 Acknowledged Missing Schedule of Real Estate for property located at XXXXX.  Property is listed on the tax returns and file contains property tax statement.  It is not linked to a mortgage yet has mortgage interest deducted on the tax return and it is not listed on the 1003.   Verified employment history - Borrowers have been XXXXX with XXXXX for XXXX years.; Low LTV/CLTV/HCLTV - Low LTV of 61.54%. Recd from lender: XXXXX is owned by XXXXX and as such is accounted for in the income/expenses section of the 1003 and not the REO Section as the client does not personally own the property.
Finding downgraded to an EV2 -All real estate listed in the schedule of REO is owned by XXXXX.  Review added the expenses of taxes to the qualifying DTI.		 EV2 as REO should have been included in the Schedule of REO.  Per the XXXXX XXXXX there is no insurance and the taxes are XXXXX/XXXXX per the Tax Bill which was added to the qualifying total debt. XXXXX.  DTI is within the acceptable tolerance.   
Mitigated Risk: EV2 as REO should have been included in the Schedule of REO.  Per the XXXXX XXXXX there is no insurance and the taxes are XXXXX/XXXXX per the Tax Bill which was added to the qualifying total debt. XXXXX.  DTI is within the acceptable tolerance.   		 B B B B B
xxxxx 6000047643 574925 01/08/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed Missing copy of XXXX 1040 Extension. 01/14/2020 Verified employment history - Borrowers have been XXXXX with XXXXX for XXXX years.; Low LTV/CLTV/HCLTV - Low LTV of 61.54%.   Recd copy of the XXXX 1040 Extension. A A A A A
xxxxx 6000047649 571813 12/29/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed XXXXX evidence XXXXX Collateral Risk Score 4.  Missing desk review to support value of XXXXX. 01/07/2020 Verified occupancy in subject property - XX years non-owner occupancy.; Verified ownership of subject property - XX years non-owner occupancy.; Verified employment history - Borrower has stable, long-term XXX years employment history with same employer.; Verified reserves - 137.30-months reserves.; Low DTI - 39.02 DTI.; Low LTV/CLTV/HCLTV - 67.50 LTV/CLTV.; Verified housing payment history - XXX months 0x30 mortgage history evidenced on credit report.   Desk review returned supporting value of XXXXX with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047650 571455 12/27/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required- No Analysis was performed for this non-UAD form type. 01/02/2020 Verified housing payment history - XXX months 0x30 mortgage history evidenced on borrower's credit report.; Verified housing payment history - XXX months 0x30 mortgage history evidenced on co-borrower's credit report.; Verified employment history - Co-borrower has stable, long-term XXX years employment history with same employer.; Verified reserves - 93.89-months reserves.; Low DTI - 19.69 DTI.; Low LTV/CLTV/HCLTV - 75 LTV/CLTV.   Received ARR A A A A A
xxxxx 6000047651 572397 12/31/2019 Credit Seller Contributions exceed 2% CRED 0081 1 Closed Seller credits of XXXXX per final Closing Disclosure is 2.15%. Per approval the maximum seller concessions were to be XXXXX.  01/24/2020 Verified credit history - XXX qualifying credit score. No derogatory credit. Credit file dates back to XXXXX. ; Verified reserves - DU required reserves of XXXXX. Verified post closing reserves of XXXXX.    Seller fees updated to exclude the owners title policy fee of XXXXX. A A A A A
xxxxx 6000047651 572408 12/31/2019 Property Missing Appraiser License APPR 0043 1 Closed Missing appraisal, no appraisal license provided. Appraisal Form 1007 did not include appraisers license.  01/14/2020 Verified credit history - XXX qualifying credit score. No derogatory credit. Credit file dates back to XXXXX. ; Verified reserves - DU required reserves of XXXXX. Verified post closing reserves of XXXXX.    Recd complete copy of the subject appraisal. A A A A A
xxxxx 6000047651 572427 12/31/2019 Compliance No evidence lender provided copies of written appraisals ECOA 0003 1 Closed Missing evidence that borrower was provided with original appraisal report and Comparative Rent schedule.  01/14/2020 Verified credit history - XXX qualifying credit score. No derogatory credit. Credit file dates back to XXXXX. ; Verified reserves - DU required reserves of XXXXX. Verified post closing reserves of XXXXX.    Recd copy of cover letter to confirm the appraisal was sent to the borrower on XXXXX. A A A A A
xxxxx 6000047651 572447 12/31/2019 Credit Unacceptable Mortgage History CRED 0001 1 Closed Borrower has an additional property on REO schedule (XXXXX). Initial 1003 indicates this property was Sold, however this was not noted on final 1003. Final 1003 lists property with mortgage balance of XXXXX. This mortgage is listed on borrowers credit report with account number ending in XXXX. Mortgage statement reflects matching account number and address (XXXXX), however statement appears to be altered. Borrower name is not listed on statement and another name has been added. Lender excluded PITI of XXXXX/mo based on 12 mos of bank statements showing payments being paid by another person. Due to altered mortgage statement review included payment in borrowers DTI.  01/24/2020 Verified credit history - XXX qualifying credit score. No derogatory credit. Credit file dates back to XXXXX. ; Verified reserves - DU required reserves of XXXXX. Verified post closing reserves of XXXXX.    Recd copy of XXXX/XXXX XXXXX 1098s for XXXXX which were in the names of XXXXX and XXXXX.  1098s correspond with the 12 mths bank statements the XXXXX verifying proof of payment for XXXXX-XXXXX.  Appears that the borrower is a so-signer on the Note.  Review updated the DTI to exclude the PITI. A A A A A
xxxxx 6000047651 572592 01/01/2020 Property Missing Copy of Original Appraisal report APPR 0001 1 Closed Missing copy of original appraisal. Copy of invoice and final CD reflect that borrower was charged XXXXX for a full URAR appraisal.  01/24/2020 Verified credit history - XXX qualifying credit score. No derogatory credit. Credit file dates back to XXXXX. ; Verified reserves - DU required reserves of XXXXX. Verified post closing reserves of XXXXX.    Recd complete copy of the subject appraisal. A A A A A
xxxxx 6000047651 572650 01/01/2020 Credit Undisclosed or Excluded Debt CRED 0086 1 Closed DU excluded mortgage debt with balance of XXXXX (XXXXX). Lender provided bank statements from another person documenting 12 payments.  Mortgage statement appears to have been altered. Initial 1003 indicates this property was Sold, however this was not noted on final 1003 and no additional documentation provided to document property was Sold or borrower is not responsible for payment. Missing copy of Sales Contract or Lease Option confirming someone else is making payment. Insufficient documentation provided to omit payment from DTI.  01/24/2020 Verified credit history - XXX qualifying credit score. No derogatory credit. Credit file dates back to XXXXX. ; Verified reserves - DU required reserves of XXXXX. Verified post closing reserves of XXXXX.    Recd copy of XXXX/XXXX XXXXX 1098s for XXXXX which were in the names of XXXXX and XXXXX.  1098s correspond with the 12 mths bank statements the XXXXX verifying proof of payment for XXXXX-XXXXX.  Appears that the borrower is a so-signer on the Note.  Review updated the DTI to exclude the PITI. A A A A A
xxxxx 6000047651 572651 01/01/2020 Credit Back-end Ratio exception (DTI) CRED 0004 1 Closed Approval DTI of 30.276% per 1008. Review DTI of 40.42%. Increase in DTI of 10.14% due to lender excluding mortgage payment of XXXXX. Review included same payment due to altered documentation. DTI variance exceeds tolerance. DU Approve/Eligible is invalid. 01/24/2020 Verified credit history - XXX qualifying credit score. No derogatory credit. Credit file dates back to XXXXX. ; Verified reserves - DU required reserves of XXXXX. Verified post closing reserves of XXXXX.    Recd copy of XXXX/XXXX XXXXX 1098s for XXXXX which were in the names of XXXXX and XXXXX.  1098s correspond with the 12 mths bank statements the XXXXX verifying proof of payment for XXXXX-XXXXX.  Appears that the borrower is a so-signer on the Note.  Review updated the DTI to exclude the PITI. A A A A A
xxxxx 6000047654 573080 01/02/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed B1 and B2 are XXXXX in XXXXX. Per final 1003 lender qualified each borrower with XXXXX/mo. Review calculated each borrowers income as XXXXX/mo. Unable to determine lenders income calculation. Borrowers returns list XXXXX income, however no detail of XXXXX income was provided and no W2s provided in file. XXXXX returns did not list detail of XXXXX. Unable to confirm XXXXX income amounts paid to borrowers.  Insufficient documentation was provided to calculate income.  01/23/2020 Verified reserves - DU required reserves of XXXXX. Verified post closing reserves of XXXXX. Please escalate this for review.  This has been reviewed w/XXXXX and they have confirmed that this is allowed.  As long as the DU findings only require one year of returns, even if 2 are present.

**Finding remains as the loan has been escalated and reviewed w/XXXXXy.  Please provide updated AUS with the reduced income and increased DTI.

Although DU only required 1 yr of tax returns lender included 2 yrs XXXXX and XXXXX.  Using 2 yr average lowers income to XXXXX per month for each borrower.  Because documentation was presented review used 2 year average which increases the DTI to 38.81%.		 Recd copy of updated DU Findings, 1008, and 1003 with income reduced and DTI updated to 39.074%  LOE was send to the borrower explaining the changes to the 1003 with UPS tracking to verify delivery to the borrower. A A A A A
xxxxx 6000047654 573084 01/02/2020 Credit Income Calculation Discrepancy CRED 0084 1 Closed Rental Income/Loss discrepancy (XXXXX). Per final 1003 lender used loss of XXXXX. 1008 states lender used taxes and insurance from Sch E and did not use Loss shown on Sch E. Per Sch E borrower has a 2 yr average loss of XXXXX/mo. No justification provided for not considering losses shown on Sch E. Review included loss of XXXXX/mo.  01/15/2020 Verified reserves - DU required reserves of XXXXX. Verified post closing reserves of XXXXX.   Cleared updated to qualify borrower on actual PITI per 1040s. A A A A A
xxxxx 6000047654 573090 01/02/2020 Credit Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information CRED 0103 1 Closed Updated Missing verification of insurance for XXXXX.

Per final 1003 there are 2 properties listed on REO schedule which are shown as Free and Clear with no rental income (XXXXX, XXXXX). File contains only copies of tax receipts for these properties. Missing verification of insurance expenses and documentation confirming these properties are free and clear. Review used stated amounts on 1003. 		 01/17/2020 Verified reserves - DU required reserves of XXXXX. Verified post closing reserves of XXXXX. Recd verification of ins for XXXXX.  Property search verifies no mortgage.
**Missing verification of ins for XXXXX.		 Recd verification via XXXXX confirming XXXXX is vacant land. A A A A A
xxxxx 6000047654 577779 01/15/2020 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed Approved DTI 25.97%, Review DTI 38.81%.  Variance exceeds the allowable 3% tolerance.
 Although DU only required 1 yr of tax returns lender included 2 yrs XXXXX and XXXXX.  Using 2 yr average lowers income to XXXXX per month for each borrower.  Because documentation was presented review used 2 year average which increases the DTI to 38.81%.		 01/23/2020 Verified reserves - DU required reserves of XXXXX. Verified post closing reserves of XXXXX. Please escalate this for review.  This has been reviewed w/XXXXX and they have confirmed that this is allowed.  As long as the DU findings only require one year of returns, even if 2 are present.

**Finding remains as the loan has been escalated and reviewed w/XXXXX.  Please provide updated AUS with the reduced income and increased DTI.		 Recd copy of updated DU Findings, 1008, and 1003 with income reduced and DTI updated to 39.074%  LOE was send to the borrower explaining the changes to the 1003 with UPS tracking to verify delivery to the borrower. A A A A A
xxxxx 6000047655 571633 12/28/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required- Collateral Underwriter Risk Scored returned at 2.7. 01/07/2020 Verified reserves - Total verified reserves XXXXX, Reserves required by DU XXXXX.; Low LTV/CLTV/HCLTV - LTV/CLTV is 69.56%.   Desk review returned supporting value of XXXXX with a Risk Ranking of Reasonable. A A A A A
xxxxx 6000047655 571644 12/28/2019 Credit Unacceptable Mortgage History CRED 0001 1 Closed Missing VOM or 12 mths cancelled checks to verify the housing history for the borrowers primary residence XXXXX as required by the lenders approval.  No Mortgage was reported on the credit report.  1003 Reflects XXXXX as the current lender.  Hazard policy reflects XXXXX as the mortgagee. 01/08/2020 Verified reserves - Total verified reserves XXXXX, Reserves required by DU XXXXX.; Low LTV/CLTV/HCLTV - LTV/CLTV is 69.56%.   Recd copy of the first payment letter for XXXXX for XXXXX which verifies that the 1st payment was not due until XXXXX thus, no history to report. A A A A A
xxxxx 6000047655 571645 12/28/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing documentation to verify PITI on the borrowers current residence XXXXX.  Review used amounts from the final 1003 reflecting a Mortgage balance of XXXXX and PITI of XXXXX to qualify. 01/08/2020 Verified reserves - Total verified reserves XXXXX, Reserves required by DU XXXXX.; Low LTV/CLTV/HCLTV - LTV/CLTV is 69.56%.   Recd copy of the first payment letter for XXXXX for XXXXX which verifies Total Loan XXXXX with PITI of XXXXX. A A A A A
xxxxx 6000047659 571834 12/29/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Per 1003, REO Schedule two investment properties (XXXXX, XXXXX) are Condo properties. Missing verification of HOA expenses.  01/08/2020 Verified housing payment history - XXX months of current and prior mortgage history paid 0x30 per credit report.    Recd verification of HOA Dues for Unit XXXXX of XXXXX and Verification of HOA for Unit XXXXX of XXXXX. A A A A A
xxxxx 6000047660 570237 12/23/2019 Compliance APN Number and/or Legal Descriptions do not match security instrument COLL 0002 2 Acknowledged APN Number on Title Commitment and Appraisal XXXXX does not match APN from DOT- XXXXX.   Verified employment history - Borrower has stable, long-term XXX years employment history with same employer.; Verified housing payment history - XXX-months 0x30 mortgage history evidenced on credit report.; Verified reserves - 57.54-months reserves.   Client: EV2 Per the lender response the Title and Appraisal are both correct.  The DOT has the Tax ID number as reflected on the tax cert.  Number on DOT can be traced back to the property.  EV2 as Legal Description is correct. B B B B B
xxxxx 6000047660 571561 12/28/2019 Credit Underwriting Loan Approval is Deficient APRV 0010 1 Closed Missing evidence of 2 disclosed refinance CD's documenting terms and conditions for primary residence (XXXXX - refinanced XXXXX with XXXXX XXXXX/XXXXX); and Investment (XXXXX - refinanced XXXXX XXXXX with XXXXX XXXXX/XXXXX), per Loan Approval, 1008, and 1003. 01/07/2020 Verified employment history - Borrower has stable, long-term XXX years employment history with same employer.; Verified housing payment history - XXX-months 0x30 mortgage history evidenced on credit report.; Verified reserves - 57.54-months reserves.   Recd copies of CDs for XXXXX and XXXXX.  Sch of REO updated with the documented Loan Amounts and PITIA. A A A A A
xxxxx 6000047662 571759 12/29/2019 Credit Credit Documentation is Insufficient CRED 0093 1 Closed Missing copy of Note for new debt to verify liability type.  LOE indicated new debt and a credit supplement was provided  however, this appears to be a possible undisclosed Mortgage.  Supplement reflects the loan is a 30 yr Installment with a balance of XXXXX and payment of XXXXX. 01/07/2020 Established credit history - XX years depth of credit with mid scores of XXX and XXX   Exception cleared, credit supplement reflected loan as installment. A A A A A
xxxxx 6000047662 571761 12/29/2019 Credit Missing Verification of Liability (Contingent or Otherwise) CRED 0097 1 Closed Missing documentation to verify new XXXXX account.  Per the Credit Explanation Letter the borrower opened new debt.  Account was not verified on the credit supplement.  Final 1003 includes a XXXXX account with no account number with a balance of XXXXX and payment of XXXXX. 01/07/2020 Established credit history - XX years depth of credit with mid scores of XXX and XXX   Recd copy of screen shot from internal debt monitoring.  The system gives the trade line specifics and the debt is added to the 1003.  Debt identified for B1 XXXXX Balance XXXXX with a payment of XXXXX. A A A A A
xxxxx 6000047662 571762 12/29/2019 Credit Missing Verification of Rental CRED 0021 2 Acknowledged Missing Rent free letter from borrower(s) for current address XXXXX.   Established credit history - XX years depth of credit with mid scores of XXX and XXX   EV2 No verification of rent was required by AUS.
Mitigated Risk: EV2 No verification of rent was required by AUS.		 B B B B B
xxxxx 6000047664 570082 12/23/2019 Compliance Missing 1-4 Family Rider DEED 0008 1 Closed Missing 1-4 Family Rider  01/09/2020 Verified credit history - Credit report confirms XXX months satisfactory mortgage rating.; Verified credit history - Oldest tradeline XXXXX, middle credit score XXX with no history of delinquency reported.; Verified reserves - Post closing reserves XXXXX (49.55 mos Subj PITI) > Reserves Required XXXXX.   Recd copy of executed 1-4 Family Rider. A A A A A
xxxxx 6000047664 572568 12/31/2019 Credit Missing payment on "monthly payment for mortgage-related obligations". §1026.43(e)(2)(vi) QMATR 0011 1 Closed 1) Missing evidence of insurance and HOA liability for non-subject REO, XXXXX.

2) Missing evidence of insurance and HOA liability for non-subject REO, XXXXX.

3) Missing evidence of insurance for non-subject REO, XXXXX.		 01/08/2020 Verified credit history - Credit report confirms XXX months satisfactory mortgage rating.; Verified credit history - Oldest tradeline XXXXX, middle credit score XXX with no history of delinquency reported.; Verified reserves - Post closing reserves XXXXX (49.55 mos Subj PITI) > Reserves Required XXXXX. REcd from lender: See XXXX Sch E
 Cleared, review updated using the XXXX 1040 Sch E. A A A A A
xxxxx 6000047664 572574 12/31/2019 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed AUS condition 13 - Payment history for the following mortgage cannot be verified: XXXXX XXXXX Payment XXXXX. 01/08/2020 Verified credit history - Credit report confirms XXX months satisfactory mortgage rating.; Verified credit history - Oldest tradeline XXXXX, middle credit score XXX with no history of delinquency reported.; Verified reserves - Post closing reserves XXXXX (49.55 mos Subj PITI) > Reserves Required XXXXX.   Recd copy of Final CD for XXXXX ending in XXXXX for property located on XXXXX.  First payment was due XXXXX.  No History to verify. A A A A A
xxxxx 6000047665 571750 12/29/2019 Property Health and Safety Issue PROP 0005 1 Closed No evidence noted that water heater is double strapped to code. 01/14/2020     Cleared, per the appraisal there are not photos or comments indicating there is a health and safety issue. A A A A A
xxxxx 6000047665 572576 12/31/2019 Compliance Estimated Total Minimum/Maximum Payment Amount does not match the Disclosed Closing Disclosure Projected Payments Table (12 CFR 1026.37(b)(3)) TRID 0092 1 Closed Variance is due to the Hazard Insurance, lender used XXXXX, Review used XXXXX based on the Policy premium of XXXXX per the deck page provided-- The Estimated Total Maximum Payment Amount in column 1 of the Disclosed Closing Disclosure Projected Payments Table does not match the value in the System Calculated Projected Payments Table. The Disclosed Projected Payments Table contains a value of (XXXXX), while the Calculated Projected Payments Table has a value of (XXXXX).;
The Estimated Total Maximum Payment Amount in column 1 of the Disclosed Closing Disclosure Projected Payments Table does not match the value in the System Calculated Projected Payments Table. The Disclosed Projected Payments Table contains a value of (XXXXX), while the Calculated Projected Payments Table has a value of (XXXXX).		 01/14/2020     Loan is Investor Cash Out transaction.  RESPA is not applicable. A A A A A
xxxxx 6000047684 573003 01/02/2020 Property Subject Borrower does not match Appraisal Borrower Name APPR 0009 1 Closed B2 last name per appraisal, XXXXX does not match to the documentation in file, XXXXX. 01/08/2020 Verified reserves - Verified reserves XXXXX > Reserves Required XXXXX.   Finding cleared as this is a typo that will not affect the loan qualifying or meeting compliance standards. A A A A A
xxxxx 6000047684 573046 01/02/2020 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed AUS condition 14 not satisfied. Missing B1 3rd Party Verification of XXXXX, XXXXX, completed within 120 days prior to the Note date. Internet search. 01/08/2020 Verified reserves - Verified reserves XXXXX > Reserves Required XXXXX.   Recd XXXXX Search for XXXXX completed XXXXX. A A A A A
xxxxx 6000047684 573047 01/02/2020 Credit Missing payment on "monthly payment for mortgage-related obligations". §1026.43(e)(2)(vi) QMATR 0011 1 Closed 1) Missing evidence that both tax and insurance is being escrowed on borrowers primary residence, XXXXX.

2) Missing evidence non-subject rental property, XXXXX is owned free and cleared. EOI does not provide additional insured section, thus unable to confirm. Property was acquired since the last tax return filing.		 01/08/2020 Verified reserves - Verified reserves XXXXX > Reserves Required XXXXX.   Recd copy of XXXXX Statement which confirms that the account is escrowed.  Also provided was a XXXXX property search for XXXXX showing no outstanding mortgage liens. A A A A A
xxxxx 6000047684 573048 01/02/2020 Credit Missing Evidence of sale of property owned HUD 0011 1 Closed Missing evidence of rental property, XXXXX. Property is listed on the most recent XXXX tax return schedule E, however, debt service was not considered. 01/08/2020 Verified reserves - Verified reserves XXXXX > Reserves Required XXXXX.   Borrowers XXXX 1040s reflect that XXXXX sold XXXXX. A A A A A
xxxxx 6000047685 572669 01/01/2020 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Missing mortgage statements on the following properties (XXXXX, XXXXX, XXXXX. Unable to reconcile mortgages to properties owned. Review used mortgage assignment as shown on final 10, pending verification. 01/08/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 27.23%.; Verified reserves - LP required reserves of XXXXX4. Verified post closing reserves of XXXXX.; Verified credit history - XXX/XXX qualifying credit scores. No derogatory credit. Credit file dates back to XXXXX.  Recd from lender: Mortgages can be linked to their respective mortgages using the HOI deck pages.
 Using HOI Policies Review matched the following: 1) XXXXX matched to XXXXX.
2) XXXXX Matched to XXXXX and new XXXXX per Note in file dated XXXXX.  Missing CD to verify of XXXXX ending XXXXX was paid off.
3) XXXXX  XXXXX.		 A A A A A
xxxxx 6000047685 572670 01/01/2020 Credit Undisclosed or Excluded Debt CRED 0086 1 Closed Credit report reflects 2 mortgages which were not included in qualifying the borrower (XXXXX, XXXXX). These 2 mortgages are not listed on final 1003. Missing documentation to support omission of these 2 mortgages.  01/15/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 27.23%.; Verified reserves - LP required reserves of XXXXX4. Verified post closing reserves of XXXXX.; Verified credit history - XXX/XXX qualifying credit scores. No derogatory credit. Credit file dates back to XXXXX.  Recd from lender: Mortgages can be linked to their respective mortgages using the HOI deck pages.
** Per HOI Deck page XXXXX belongs with XXXXX.  Missing verification if the XXXXX transaction paid off XXXXX.
Per the HOI desk page XXXXX belongs with XXXXX.  There was not mortgage associated with this property on the Final 1003.  Review updated as follows Net rental per tax returns XXXXX - Taxes XXXXX - HAZ XXXXX, PI XXXXX = net (XXXXX)		 Recd final settlement statement for XXXXX confirming new XXXXX paid off XXXXX, XXXXX, and XXXXX. A A A A A
xxxxx 6000047685 572708 01/02/2020 Credit Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information CRED 0103 1 Closed Per final 1003 lender qualified borrower with property taxes on subject property of XXXXX/mo. Per tax records from title company the estimated taxes are XXXXX or XXXXX. 01/15/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 27.23%.; Verified reserves - LP required reserves of XXXXX4. Verified post closing reserves of XXXXX.; Verified credit history - XXX/XXX qualifying credit scores. No derogatory credit. Credit file dates back to XXXXX.  Recd from lender: Lender qualified w/taxes the borrower would actually be responsible for w/in the 12 mths after closing.  Per the tax calculation on file borrower is responsible for the taxes due on XXXXX for XXXXX and the taxes due on XXXXX for XXXXX for a total amount of XXXXX.
**Finding remains CA Property, Based on CA Prop 13 Review used estimate of 1.25% of the purchase price to calculate the subject taxes.

Lender did not address the variance in the subject property taxes.  Review updated subject taxes to XXXXX which is based on 1.25% of the Purchase Price.		 Recd final settlement statement for XXXXX confirming new XXXXX paid off XXXXX, XXXXX, and XXXXX.  Based on updated documentation DTI variance is w/in 3% including the increased subject taxes. A A A A A
xxxxx 6000047685 574805 01/08/2020 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 2 Acknowledged Final 1003 REO Schedule does not accurately reflect mortgages on investment property (XXXXX). 1003 lists this property as Free and Clear with Net Rental Income of XXXXX, not including any P&I mortgage payment. Per lender, this property is mortgaged (XXXXX) which is not reflected on 1003 and lender did not include P&I payment of XXXXX/mo in calculating net rental income/loss.    Low LTV/CLTV/HCLTV - LTV/CLTV of 27.23%.; Verified reserves - LP required reserves of XXXXX4. Verified post closing reserves of XXXXX.; Verified credit history - XXX/XXX qualifying credit scores. No derogatory credit. Credit file dates back to XXXXX.    Review used actual verified information and considered the discrepancies on the 1003 to be immaterial.
Mitigated Risk: Review used actual verified information and considered the discrepancies on the 1003 to be immaterial.		 B B B B B
xxxxx 6000047685 574809 01/08/2020 Credit AUS is invalid - conditions were not met QMATR 0014 1 Closed Approval DTI of 34% per LP. Review DTI of 42.68%. Variance due to lender not correctly calculating rental income losses on investment property (see CRED 0004). DTI increase of 8.68% is >3% and render AUS results as invalid.  01/15/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 27.23%.; Verified reserves - LP required reserves of XXXXX4. Verified post closing reserves of XXXXX.; Verified credit history - XXX/XXX qualifying credit scores. No derogatory credit. Credit file dates back to XXXXX.    Recd final settlement statement for XXXXX confirming new XXXXX paid off XXXXX, XXXXX, and XXXXX.  Based on updated documentation DTI variance is w/in 3%.  A A A A A
xxxxx 6000047685 574810 01/08/2020 Credit Back-end Ratio exception (DTI) CRED 0004 1 Closed Approval DTI of 34% per LP. Review DTI of 42.68%. Lender did not accurately calculate net rental income/loss on investment property (XXXXX). Lender calculated net rental income of XXXXX. Review calculated net rental loss of XXXXX. Variance due to lender not including P&I payment (XXXXX).  01/15/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 27.23%.; Verified reserves - LP required reserves of XXXXX4. Verified post closing reserves of XXXXX.; Verified credit history - XXX/XXX qualifying credit scores. No derogatory credit. Credit file dates back to XXXXX.  Recd from lender: Lender qualified w/taxes the borrower would actually be responsible for w/in the 12 mths after closing.  Per the tax calculation on file borrower is responsible for the taxes due on XXXXX for XXXXX and the taxes due on XXXXX for XXXXX for a total amount of XXXXX.
**Finding remains CA Property, Based on CA Prop 13 Review used estimate of 1.25% of the purchase price to calculate the subject taxes.		 Recd final settlement statement for XXXXX confirming new XXXXX paid off XXXXX, XXXXX, and XXXXX.  Based on updated documentation DTI variance is w/in 3% including the increased subject taxes. A A A A A
xxxxx 6000047667 572833 01/02/2020 Credit Credit Documentation is Insufficient CRED 0093 1 Closed Consumer Explanation Letter addressing credit inquiries is not signed by the borrowers. 01/15/2020 None - No significant compensating factors.  Recd from lender: Please see the bottom of the credit inq letter.  It states the date/time the client electronically acknowledged receipt of the document.  The proof that the document was acknowledged is on the document.
**Finding remains, no borrower acknowledgment on the inq. letter.

Recd from lender: Inquiry letters are not required to be signed, only acknowledged.  Client acknowledged electronically.
**Finding remains as no documentation to support borrower acknowledgment was provided.  Evidentiary Document in file does not include any electronic verification other than disclosures. 		 Recd copy of borrower acknowledged inq letter. A A A A A
xxxxx 6000047667 572917 01/02/2020 Credit Asset Documentation is Insufficient CRED 0083 1 Closed Review did not include assets from XXXXX accounts used for closing and reserves due to the following deficiencies.
1) Lender included assets from XXXXX account (XXXXX) in qualifying the borrower for down payment funds. Per XXXXX document borrower is not XXXXX. No evidence that XXXXX gave borrower 100% access to these funds.
2) XXXXX account used for down payment funds reflect multiple unsourced large deposits totaling XXXXX. Two of these deposits exceed 50% of the qualifying income, XXXXX on XXXXX and XXXXX on XXXXX.   		 01/23/2020 None - No significant compensating factors.  Recd updated 1003/1008 and DU Findings. Lender noted that they have excluded the deposits totaling XXXXX from the available assets from XXXXX and XXXXX for available assets of XXXXX.
**Finding Remains missing CPA letter or documentation that the lender performed a cash flow analysis to confirm that the withdrawal of funds for this transaction will not have a negative impact on XXXXX.

  
Recd from lender: We are allowed to use funds if either client or both clients is greater than XXXXX of XXXXX, therefor no 100% ownership is required to XXXXX guidelines.  Also transfers between XXXXX accounts to XXXXX accounts are not required to be sourced. Nor are deposits to XXXXX accounts.
**Finding #1 remains no CPA letter or CFA was documented in the loan file to verify that withdrawal of the funds for this transaction will not negatively impact XXXXX.  (No XXXXX returns for XXXXX were provided and there was no Sch E income claimed for this in XXXX/XXXX.)  Per the XXXXX guide:
XXXXX assets may be an acceptable source of funds for the down payment, closing costs, and financial reserves when a borrower is XXXXX and the individual federal income tax returns have been evaluated by the lender, including, if applicable, the XXXXX income tax returns for that particular XXXXX (non-Schedule C). The borrower must be listed as an owner of the account and the account must be verified in accordance with XXXXX, Verification of Deposits and Assets. The lender must perform a XXXXX cash flow analysis to confirm that the withdrawal of funds for this transaction will not have a negative impact on XXXXX. See XXXXX, XXXXX, for additional information on the analysis of a XXXXX borrower as required by XXXXX.

Finding #2 Remains -**Finding remains no documentation to address the large deposits to the XXXXX ending XXXXX provided.  Only 2 mths statements provided and the large deposits are not consistent in the documentation provided.  Per the XXXXX guide: If funds from a large deposit are needed to complete the purchase transaction (that is, are used for the down payment, closing costs, or financial reserves), the lender must document that those funds are from an acceptable source. Occasionally, a borrower may not have all of the documentation required to confirm the source of a deposit. In those instances, the lender must use reasonable judgment based on the available documentation as well as the borrowers debt-to-income ratio and overall income and credit profile. Examples of acceptable documentation include the borrowers written explanation, proof of ownership of an asset that was sold, or a copy of a wedding invitation to support receipt of gift funds. The lender must place in the loan file written documentation of the rationale for using the funds.
 Recd cash flow analysis to confirm that the withdrawal of funds for this transaction will not have a negative impact on XXXXX. A A A A A
xxxxx 6000047667 572918 01/02/2020 Credit Insufficient verified reserves CRED 0100 1 Closed DU required reserves of XXXXX. Verified post closing reserves of XXXXX is insufficient to meet DU requirements. Review did not include XXXXX assets and un-sourced deposits which are not property documented. 01/23/2020 None - No significant compensating factors.  Recd from lender: We are allowed to use funds if either client or both clients is greater than XXXXX of XXXXX, therefor no 100% ownership is required to XXXXX guidelines.  Also transfers between XXXXX accounts to XXXXX accounts are not required to be sourced. Nor are deposits to XXXXX accounts.
**Finding #1 remains no CPA letter or CFA was documented in the loan file to verify that withdrawal of the funds for this transaction will not negatively impact XXXXX.  (No XXXXX returns for XXXXX were provided and there was no Sch E income claimed for this in XXXX/XXXX.)  Per the XXXXX guide:
XXXXX assets may be an acceptable source of funds for the down payment, closing costs, and financial reserves when a borrower is XXXXX and the individual federal income tax returns have been evaluated by the lender, including, if applicable, the XXXXX income tax returns for that particular XXXXX (non-Schedule C). The borrower must be listed as an owner of the account and the account must be verified in accordance with XXXXX, Verification of Deposits and Assets. The lender must perform a XXXXX cash flow analysis to confirm that the withdrawal of funds for this transaction will not have a negative impact on XXXXX. See XXXXX, XXXXX, for additional information on the analysis of a XXXXX borrower as required by XXXXX.

Finding #2 Remains -**Finding remains no documentation to address the large deposits to the XXXXX ending XXXXX provided.  Only 2 mths statements provided and the large deposits are not consistent in the documentation provided.  Per the XXXXX guide: If funds from a large deposit are needed to complete the purchase transaction (that is, are used for the down payment, closing costs, or financial reserves), the lender must document that those funds are from an acceptable source. Occasionally, a borrower may not have all of the documentation required to confirm the source of a deposit. In those instances, the lender must use reasonable judgment based on the available documentation as well as the borrowers debt-to-income ratio and overall income and credit profile. Examples of acceptable documentation include the borrowers written explanation, proof of ownership of an asset that was sold, or a copy of a wedding invitation to support receipt of gift funds. The lender must place in the loan file written documentation of the rationale for using the funds.
 Added Funds from XXXXX account to available liquid assets. Recd XXXXX cash flow analysis to confirm that the withdrawal of funds for this transaction will not have a negative impact.  Based on updated liquid assets the XXXXX liquidity factor was updated to be 100% liquid for the purposes of reserves. A A A A A
xxxxx 6000047668 570019 12/23/2019 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Desk Review Required-  XXXXX XXXXX report returned no findings for this non-UAD form type.  01/07/2020 Low LTV/CLTV/HCLTV - LTV/CLTV 57.09%; Low DTI - DTI is 35.22% qualifying with the subject payment.   ARR returned supporting value of XXXXX with a Risk Rating of Reasonable. A A A A A
xxxxx 6000047668 570022 12/23/2019 Credit Missing evidence of Hazard Insurance HAZ 0005 1 Closed Missing the HOI declaration page. The document in file does not include all information need to properly determine coverage on the subject property.  01/13/2020 Low LTV/CLTV/HCLTV - LTV/CLTV 57.09%; Low DTI - DTI is 35.22% qualifying with the subject payment.   Recd copy of the insurance deck page for the subject. A A A A A
xxxxx 6000056871 599494 03/10/2020 Property Missing Appraiser License APPR 0043 1 Closed Appraisers license was not retained in the file. 03/16/2020 Established credit history - Credit accounts date to xxxx.; Verified employment history - Borrower on the job since xxxx.   03/12/20 Recd copy of appraiser license verification via the HUD Appraiser website. A A A A A
xxxxx 6000056870 599866 03/10/2020 Credit Income Documentation is Insufficient CRED 0082 2 Acknowledged 2 yr commission history for income qualifying was not retained in the file.  Missing VOE or xxxx Year End pay stub to document previous years commission income. File contains pay stub w/ YTD commission of $xxxxx as of xxxxx and a xxxx pay stub dated xxxx w/ YTD commission of $xxxx.    Low LTV/CLTV/HCLTV - LTV below the max threshold of  90%.; Verified reserves - xx Months reserves.   EV2 Based on W2s and pay stubs from xxxx and xxxx borrower has a history of receiving Commission Income.  xxxx YTD Gross $xxxxx as of xxxx.  xxxx W2 Income $xxxxx.
Mitigated Risk: EV2 Based on W2s and pay stubs from xxxx and xxxx borrower has a history of receiving Commission Income.  xxxx YTD Gross $xxxxx as of xxxx.  xxxx W2 Income $xxxxx.		 B B B B B
xxxxx 6000056864 597878 03/05/2020 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged Final borrower CD dated xxxxx does not reflect any sales commissions paid to the listing or selling agents.   Verified employment history - B1 on the job since xxxxx.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000056864 597913 03/05/2020 Compliance Affiliated Business Disclosure Not Provided Within 3 Business Days of Application COMP 0035 1 Closed Affiliated Business Disclosure was dated xxxxx but was not e-signed by the borrowers until xxxxx. 03/16/2020 Verified employment history - B1 on the job since xxxxx.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Cleared verification borrower was provided the disclosure via esign in file. A A A A A
xxxxx 6000056864 597919 03/05/2020 Compliance Disclosed Finance Charge Must Be >= Actual Finance Charge - $100 TRID 0088 1 Closed Finance charge appears to be under disclosed. - The disclosed finance charge ($xxxx) is ($xxxxx) below the actual finance charge($xxxxx). The Truth in Lending Act considers the disclosed finance charge inaccurate if it is more than $100 below the actual finance charge. (12 CFR 1026.18(d)(1); OSC 17(c)(2)(ii)-1) 03/16/2020 Verified employment history - B1 on the job since xxxxx.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   03/12/20 Seller itemization of fees paid. Using seller itemization of fees finding cleared upon re submission. A A A A A
xxxxx 6000056872 599316 03/09/2020 Credit Credit Documentation is Insufficient CRED 0093 1 Closed Missing LOE to address employment Gap from xxxxxx-xxxxxx.  VVOE Previous employer confirm employment end date of xxxxxx (xxx/xxx).  Work # VOE pg xxx confirm state date xxxxxx. 03/12/2020 Established credit history - Open credit established xx/xx/xx, blemish free history. ; Low DTI - 21% DTI verified.   xxxxxx REcd LOE for employment gap. A A A A A
xxxxx 6000056865 599422 03/09/2020 Credit Missing proof property ownership is free and clear of debt/liens CRED 0088 1 Closed Missing documentation to verify that xxx is owned free and clear.  (Only pg xxx of the renewal certificate was provided for the HOI) 03/12/2020 Conservative use of credit - Borrower has nominal outstanding consumer credit.; Low DTI - 34.59% DTI under the max 45% DTI permissible.   Recd copy of the complete renewal certificate that does not reflect any Mortgagee. A A A A A
xxxxx 6000056868 598779 03/08/2020 Property Seller Name on Appraisal does not agree with Title, Sales Contract, and/or HUD-1. APPR 0010 2 Acknowledged Seller is listed on the appraisal (pg xx) a xxxxxx xxxxx, sales contract (pg xxx) lists sellers as xxxxxxxxx and xxxxxxx, the Final CD (pg xxx) has seller as xxxxx and xxxxxx.   Verified reserves - Reserves of xxxxxx post closing.; Verified employment history - B-1 employment validated since xx/xx/xx, B2 employment with xxxxxxx documented since xx/xx/xx.   Client: Override to EV2 due to Immaterial Issue. Appears to be a Typo on the CD. B B B B B
xxxxx 6000056866 599486 03/10/2020 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged Missing Real Estate Commissions from the Final CD that were paid as part of this transaction, Seller's CD (pg xxx) Contract (pg xxx)   Low DTI - DTI is less than 31% with a max allowed DTI of 45% for Purchase transaction w/an LTV of 90%.; Conservative use of credit - Nominal consumer credit usage with a Mid FICO of xxx.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000045025 554745 11/11/2019 Compliance  Loan Disbursement Date is on or before the required Right of Rescission Expiration Date  ROR 0009 1 Closed The loan disbursement date xxxxx is earlier than, or the same day as, the calculated "Right to Cancel Expire Date" xxxxx. Under Regulation Z, funds may not be disbursed to the borrower until after the expiration of the rescission period. (Reg Z, 12 CFR 1026.23(c) and Official Staff Commentary) 11/19/2019 Verified employment history - B1 voe confirms xxxx years employment with present employer 11/18/2019 - Exception is cleared with the attached copy of the settlement statement and corresponding CD that confirms disbursement on xxxxx. ROR 0009 Exception Cleared; 11/18/2019 - Exception is cleared with the attached copy of the settlement statement and corresponding CD that confirms disbursement on xxxxx. ROR 0009 Exception Cleared; A A A A A
xxxxx 6000045025 556034 11/14/2019 Credit Final 1003 Application is Incomplete APP 0002 1 Closed Missing executed final 1003 application.  11/19/2019 Verified employment history - B1 voe confirms xxxx years employment with present employer 11/18/2019 - Exception is cleared with the attached executed final 1003. APP 0002 Exception Cleared; 11/18/2019 - Exception is cleared with the attached executed final 1003. APP 0002 Exception Cleared; A A A A A
xxxxx 6000045025 556073 11/14/2019 Compliance No evidence lender provided copies of written appraisals ECOA 0003 1 Closed Missing evidence of delivery to borrower of the 2nd Appraisal completed xxxx with value of $xxxxxx, which was used in qualifying. Evidence of delivery for the initial appraisal provided. 12/18/2019 Verified employment history - B1 voe confirms xxxx years employment with present employer 11/26/2019 - Exception is cleared with the attached cop yo email correspondence addressed to borrower to satisfactorily document delivery of the second appraisal. ECOA 0003 Exception Cleared;

11/18/2019 - Attached email correspondence does not satisfactorily document delivery of the appraisal to borrower. Provide detail provided by the appraisal management system that documents second appraisal completed xxxxx was delivered to borrower. ECOA 0003 Exception Remains;		 11/26/2019 - Exception is cleared with the attached cop yo email correspondence addressed to borrower to satisfactorily document delivery of the second appraisal. ECOA 0003 Exception Cleared; A A A A A
xxxxx 6000045025 556081 11/14/2019 Credit Undisclosed or Excluded Debt CRED 0086 2 Acknowledged Credit report reflects child support obligation for B2 last reported in xxxx. Missing documentation to confirm borrower is no longer liable.   Verified employment history - B1 voe confirms xxxx years employment with present employer 11/25/2019 - Lender rebuttal is insufficient to satisfy the exception. Although the loan file does not evidence current remittance or delinquency of the child support obligation the status cannot be confirmed. No letter of explanation OR divorce decree / separation agreement provided to evidence B2 is no longer liable. CRED 0086 Exception Remains;

11/18/2019 - Attached lender rebuttal is insufficient to satisfy the exception. B2 income not considered. B1 qualified with W2 wages, thus not tax returns provided. Child support obligation reported for B2 should be addressed. CRED 0086 Exception Remains;
 Client: 11/27/2019 - Received response from investor, "xxxx elects to waive w/ comp factors - B2 1003 attestation indicates no CS obligations, 796 FICO > 661 min, $xxxxx reserves". CRED 0086 Exception Overridden to EV2; B B B B B
xxxxx 6000046100 555296 11/12/2019 Compliance APN Number is not listed on Security Instrument COLL 0001 2 Acknowledged APN Number is not listed on Security Instrument.     Conservative use of credit - Residual income $xxxxxx above the minimum required   The full legal description is included in the Deed of Trust.
Mitigated Risk: The full legal description is included in the Deed of Trust.		 B B B B B
xxxxx 6000046100 555299 11/12/2019 Compliance Missing valid Change of Circumstance(s) TRID 0171 1 Closed Missing COC for increase of loan amount, rate lock, change in appraised value, and addition of loan discount points on the xxxxxxxxx LE.  Missing COC for the addition of the Appraisal Rush fee on the final CD.   11/27/2019 Conservative use of credit - Residual income $xxxxxx above the minimum required 11/22/2019 - Recd Disclosure Tracking Reasons reflecting the rate lock on xxxxxx to support the increase in discount points.  Not addressed is the Appraisal Rush fee, however the lender credit is sufficient to cure this tolerance violation.  Exception cleared. 11/22/2019 - Recd Disclosure Tracking Reasons reflecting the rate lock on xxxxxxxxx to support the increase in discount points.  Not addressed is the Appraisal Rush fee, however the lender credit is sufficient to cure this tolerance violation.  Exception cleared. A A A A A
xxxxx 6000046100 555313 11/12/2019 Compliance Initial Loan Estimate Sent Date > 3 Business Days from Application Date TRID 0028 1 Closed Unable to determine if xxxxxxxxx is open on Saturdays. xxx to advise.  -- The Initial Loan Estimate Disclosure Date is more than 3 business days from the Application Date . Three business days from the Application Date is . Under Regulation Z, a Loan Estimate must be delivered or placed in the mail not later than the third business day after receiving a consumer's application. (12 CFR 1026.19(e)(1)(iii)) 12/19/2019 Conservative use of credit - Residual income $xxxxxx above the minimum required 12/16/2019 - Recd documentation verifying the lender is not open on Saturdays.  Exception cleared.
12/6/2019 - Recd what appears to be employee manual confirming the 4th of July is a holiday.  The July 4th holiday has already been factored into calculation.
Application date: xxxxxx.  Days used in calculation: xxxxxx.  If Saturday is considered a business day, then xxxxxx is three days from application.  If Saturday is not a business day, then xxxxx is three days from application.  Need seller to advise if they have offices open on Saturday.		 12/16/2019 - Recd documentation verifying the lender is not open on Saturdays.  Exception cleared. A A A A A
xxxxx 6000046100 555314 11/12/2019 Compliance List of Settlement Service Providers Sent Date > 3 Business Days from Application Date TRID 0049 1 Closed Unable to determine if xxxxxxxxx is open on Saturdays. xxxx to advise. -- The List of Settlement Service Providers Disclosure Date is more than 3 business days from the Application Date . Three business days from the Application Date is . Under Regulation Z, the List of Settlement Service Providers must be delivered or placed in the mail not later than the third business day after receiving a consumer's application. (12 CFR 1026.19(e)(1)(vi); 1026.19(e)(1)(iii)) 12/27/2019 Conservative use of credit - Residual income $xxxxxx above the minimum required 12/26/2019 - Recd documentation verifying the lender is not open on Saturdays.  Exception cleared. 12/26/2019 - Recd documentation verifying the lender is not open on Saturdays.  Exception cleared. A A A A A
xxxxx 6000046100 556358 11/14/2019 Credit Undisclosed or Excluded Debt CRED 0086 2 Acknowledged Updated:
Missing evidence that two tradelines have been paid in full.  These debts were excluded from the DTI, but not paid off on the CD.


   Conservative use of credit - Residual income $xxxxxx above the minimum required 1/23/2020 - Exception is partially cleared with the attached lender posted response and supporting documentation.

11/19/2019 - Recd the original credit report which is not sufficient to clear the exception.  		 Including these debts the DTI is 50.00%, which is the max allowed but still acceptable per guideline.
Mitigated Risk: Including these debts the DTI is 50.00%, which is the max allowed but still acceptable per guideline.		 B B B B B
xxxxx 6000046100 557160 11/18/2019 Credit Income Documentation is Insufficient CRED 0082 2 Acknowledged Missing exception allowing the use of xxxxxxx income with only a xxxx month history, and/or evidence he has a history of receiving xxxxxx from xxxx previous employer xxxxxx.  Without the xxxxxx income the DTI is 57.59%.  Per the UW Transmittal and income calculator  allowing this income was based on a history of receiving it from previous employer(s).  Based on the WVOE and year end paystubs provided, the borrower earned xxxxx during xxxxxx month tenure at xxxxxx, however it is not broken out.  The xxxxxx VOI however indicates xxxxx did not receive xxxxx, xxxxx received xxxxxx and xxxxxxx  pay.  The year end paystub for xxxxx only contains the description "xxxxxxx" xxx only worked for xxxxxx for xxx in xxxx. The xxxx year end paystub only reflects xxxx and xxxxxx. No documentation provided to support that the income of xxxxxx xxx received in xxxx from xxxxxxxxxxx was xxxx and not xxxx.  Even if the "xxxxx" reflected on the paystub is xxxxxx, the borrower has a total of xxxxxs receiving xxxxxx income from xxxx previous employers and xxx months from xxxx current employer.   Conservative use of credit - Residual income $xxxxxx above the minimum required 12/26/2019 - Recd response from lender that borrower has a history of xxxxxx and xxxxx.  Missing approved exception from xxxx allowing the use of xxxxx income with no history of receipt.

12/6/2019 - Recd LOE explaining how xxxxxxxx income was calculated.  The calculation is not at issue, issue is borrower does not have a history of xxx.  The income cited by the seller is not xxxxxx income, it is xxxxxxxx. Borrower does not have a history of receiving a portion of his income from xxxxxx.  Exception remains.

11/19/2019 - Recd an exception from xxx advising UW method is acceptable, but this is based on the borrower having a history of receiving xxxxxx from previous employers.  Review original exception verbiage regarding no validated xxxxxx income from previous employer xxxxxx. Borrower only has xxx months documented history of xxxxxxx income from xxxxxxxxxxx.		 Client: Override to EV2 for investor acknowledged exception. B B B B B
xxxxx 6000046100 557163 11/18/2019 Credit Income Calculation Discrepancy CRED 0084 1 Closed Unable to determine how the lender calculated the xxxxxx income which does not match the income calculator in the file.  Unable to back into this income figure. 11/27/2019 Conservative use of credit - Residual income $xxxxxx above the minimum required 11/20/2019 - Recd income calculator.  Exception cleared. 11/20/2019 - Recd income calculator.  Exception cleared. A A A A A
xxxxx 6000046100 557263 11/18/2019 Credit Missing Documentation or Proof of ATR Underwriting Factors QMATR 0016 1 Closed 1. Missing evidence of a history of xxxxxx income (see CRED 0084).  
2. In reviewing 1003 and 1008 lender does not appear to have included the HOA dues for REO.		 01/15/2020 Conservative use of credit - Residual income $xxxxxx above the minimum required   approved A A A A A
xxxxx 6000046100 557273 11/18/2019 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 2 Acknowledged The final 1003 does not reflect the HOA dues for additional REO.    Conservative use of credit - Residual income $xxxxxx above the minimum required   Client: Override to EV2 for immaterial issue. B B B B B
xxxxx 6000047115 560929 11/27/2019 Compliance Missing Affiliated Business Disclosure COMP 0010 1 Closed Missing Affiliated Business Disclosure.  Privacy Disclosure does indicate that the lender has affiliates, but unable to determine if any were recommended to the borrower and used for settlement services. 12/19/2019 No Payment Shock - Reduction in housing payment by xxx% or greater.; Verified reserves - PITIA reserves above minimum by xxx months or higher. 12/13/2019 - Recd signed attestation of no affiliations. Exception cleared.

12/9/2019 - Recd from lender: "Please note that xxxxx does not have any business affiliate. xxxxxx was a business affiliate of xxxxx which was terminated once xxxxxxx acquired the latter company as of xxxxxx. Please delete this generic suspense condition as this no longer applies.

**Exception remains.  If lender does not have any affiliates, we need an official attestation on company letterhead that is signed by an officer of the institution that confirms there are no affiliated business relationships to disclose, thus no ABD is required.  The official signed attestation needs to satisfactorily address the issue of why the privacy disclosure indicates that there are affiliates.		 12/13/2019 - Recd signed attestation of no affiliations. Exception cleared. A A A A A
xxxxx 6000047115 561826 12/02/2019 Compliance Document Intent to Proceed with the Transaction TRID 0047 1 Closed Missing Intent to Proceed.  You did not submit an Intent to Proceed Date, which represents the date the consumer acknowledged their intent to proceed with the transaction described by the Loan Estimate. The creditor must document this communication to satisfy the requirements of 1026.25. Neither a creditor nor any other person may impose a fee, other than a credit report fee, before the consumer has received the Loan Estimate and indicated to the creditor an intent to proceed with the transaction described by the Loan Estimate. (12 CFR 1026.19(e)(2)(i)(A)) 12/05/2019 No Payment Shock - Reduction in housing payment by xxx% or greater.; Verified reserves - PITIA reserves above minimum by xxx months or higher. 12/3/2019 - Recd intent to proceed dated xxxxxxx.  Exception cleared. 12/3/2019 - Recd intent to proceed dated xxxxxx.  Exception cleared. A A A A A
xxxxx 6000047115 561939 12/02/2019 Credit Missing Tax Transcript(s) CRED 0091 1 Closed Missing two years W2 transcripts.  4506T only reflects xxxx transcripts can be requested. 03/11/2020 No Payment Shock - Reduction in housing payment by xxx% or greater.; Verified reserves - PITIA reserves above minimum by xxx months or higher. 12/11/2019 - Recd xxxx W2 transcripts.  Exception cleared.
12/3/2019 - Recd xxxx W2 transcript.  Exception remains pending xxxx W2 transcript.  		 12/11/2019 - Recd xxxxx W2 transcripts.  Exception cleared. A A A A A
xxxxx 6000047115 561940 12/02/2019 Credit Income Documentation is Insufficient CRED 0082 1 Closed Missing year to date paystub and W2s as required by guidelines. 12/05/2019 No Payment Shock - Reduction in housing payment by xxx% or greater.; Verified reserves - PITIA reserves above minimum by xxx months or higher. 12/5/2019 - Recd xxxx W2.  Exception cleared.
12/3/2019 - Recd xxxxx W2 and xxxx YTD paystub.  Exception remains pending xxxx W2.  		 12/5/2019 - Recd xxxx W2.  Exception cleared. A A A A A
xxxxx 6000047115 561941 12/02/2019 Credit Missing Letter of Explanation CRED 0104 1 Closed Missing LOE for substantially low year to date income.   12/05/2019 No Payment Shock - Reduction in housing payment by xxx% or greater.; Verified reserves - PITIA reserves above minimum by xxx months or higher.   12/3/2019 - Recd year to date paystub.  Base salary from xxxx does not include xxxxx.  Factoring this in the year to date income is in line.  Exception cleared. A A A A A
xxxxx 6000047115 561947 12/02/2019 Credit Underwriting Loan Approval is Deficient APRV 0010 2 Acknowledged None of the borrowers on the loan is a member of the trust on title.
   No Payment Shock - Reduction in housing payment by xxx% or greater.; Verified reserves - PITIA reserves above minimum by xxx months or higher. 12/13/2019 - Recd updated 1008 reflecting the reason for agency ineligibility is that no one on the trust was a borrower on the loan, clarifying previous comments about the signor on the note.  Also received email allowing this scenario from investor.  Verbiage updated and exception overridden.
12/10/2019 - Attached documentation is insufficient to satisfy the exception. Finding Remains;
12/3/2019 - Attached documentation is insufficient to satisfy the exception. Finding Remains;		 Client: Override to EV2 for investor acknowledged exception. B B B B B
xxxxx 6000047115 561948 12/02/2019 Credit Unacceptable Mortgage History CRED 0001 2 Acknowledged Updated:
Missing xx month housing payment history.  File contains evidence the borrower has been paying the mortgage for xxxx months, and rent payments for xxxx months overlapping with mortgage payment.  
   No Payment Shock - Reduction in housing payment by xxx% or greater.; Verified reserves - PITIA reserves above minimum by xxx months or higher. 12/6/2019 - Exception is addressed with the attached lender posted response and supporting documentation.  xxx months of housing payment history are documented, xxxxxx. This is xxx payments but not xxx months as borrower carried both the previous rental and the subject in xxxx and xxxxx.
Mitigated Risk: xxx months of housing payment history are documented, xxxxxx. This is xxx payments but not xxx months as borrower carried both the previous rental and the subject in xxxx and xxxxx. 		 B B B B B
xxxxx 6000047115 561962 12/02/2019 Credit Income Calculation Discrepancy CRED 0084 1 Closed Review could not determine a reason for year to date income to be so low (see CRED 0104).  The year to date average based on xxxxxxx figures was used instead. Note, lender notes on the 1008 that income is validated by AUS - however this is not reflected on the AUS in the file, income could not be validated due to year to date income discrepancy. 12/05/2019 No Payment Shock - Reduction in housing payment by xxx% or greater.; Verified reserves - PITIA reserves above minimum by xxx months or higher. 12/3/2019 - Recd year to date paystub.  Base salary from xxxx does not include xxxxx.  Factoring this in the year to date income is in line.  Exception cleared. 12/3/2019 - Recd year to date paystub.  Base salary from xxxx does not include xxxx.  Factoring this in the year to date income is in line.  Exception cleared. A A A A A
xxxxx 6000047115 561963 12/02/2019 Credit Title Policy - Schedule B Exception TITL 0014 1 Closed The lender must obtain appropriate documentation to verify the acquisition and transfer of ownership.  Borrower obtained title through xxxxxxxxx.  No evidence of the transfer, inheritance, or gift of the property other than the borrower's LOE.  xxxxxxx reflects that a copy of that deed was attached for reference, however no copy was located in the file. Additionally xxxxxxx to confirm who can sign xxxxxxxx for xxxxxxxxx. 12/19/2019 No Payment Shock - Reduction in housing payment by xxx% or greater.; Verified reserves - PITIA reserves above minimum by xxx months or higher. 12/13/2019 - Recd final title policy.  No exceptions to coverage.  Exception cleared.
12/4/2019 - Recd a copy of the deed transferring title signed by previous owner xxxxxxxxx.  Missing confirmation from title that the xxxxxxxxxxx provided is acceptable signature.		 12/13/2019 - Recd final title policy.  No exceptions to coverage.  Exception cleared. A A A A A
xxxxx 6000047115 561964 12/02/2019 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 2 Acknowledged The 1003 reflects the borrower has been living in the subject property for xxx, however per the LOE addressing occupancy he has only lived there for xx months.     No Payment Shock - Reduction in housing payment by xxx% or greater.; Verified reserves - PITIA reserves above minimum by xxx months or higher.   Override to EV2 due to immaterial issue.
Mitigated Risk: Override to EV2 due to immaterial issue.		 B B B B B
xxxxx 6000046282 561192 11/29/2019 Compliance Missing Affiliated Business Disclosure COMP 0010 2 Acknowledged Missing the affiliated business disclosure, per the FACTS disclosure the lender has affiliates.   Low LTV/CLTV/HCLTV - LTV/CLTV is 42.20% w/a max allowed of 75% for asset utilization.; Low DTI - DTI is less than 35% w/a max allowed DTI of 43%.   Client: EV2 no affiliates were used in the subject transaction. B B B B B
xxxxx 6000046282 561196 11/29/2019 Compliance Missing Evidence of Re-disclosure and a valid COC for an increase in the "Cannot Increase Category" fee(s) from the prior disclosed Loan Estimate/Closing Disclosure TRID 0195 1 Closed Missing COC for LE issued on xxxxx for rate lock and increase in discount points.  --The amounts disclosed on the last Closing Disclosure for the following fee(s) have increased above the amount disclosed on the Loan Estimate sent on xxxxx: Loan Discount. Each fee within the Cannot Increase category cannot increase unless a new disclosure is provided and there is a valid changed circumstance associated with the re-disclosure, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). 12/06/2019 Low LTV/CLTV/HCLTV - LTV/CLTV is 42.20% w/a max allowed of 75% for asset utilization.; Low DTI - DTI is less than 35% w/a max allowed DTI of 43%.   12/04/19 Recd copy of COC for LE dated xxxxx for rate lock. A A A A A
xxxxx 6000046282 561198 11/29/2019 Compliance Missing Evidence of Re-disclosure and a valid COC for the total amount of the Closing Disclosure 10% Category fees ($) that increased by more than 10% from the amount disclosed on the prior Loan Estimate or Closing Disclosure.   TRID 0124 2 Acknowledged Recording fee increased from revised LE xxxxxx to Initial CD xxxxx by $xxxx with no COC.  --The total amount of Closing Disclosure 10% Category fees ($xxxx) increased by more than 10% from the total amount disclosed on the Loan Estimate sent on xxxxx, ($xxxx). The total amount of fees in this category cannot exceed ($xxxx) unless a new disclosure is provided and there is a valid changed circumstance associated with the re-disclosure, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3)(ii); 12 CFR 1026.19(e)(3)(iv); 12 CFR 1026.19(f)(2)(v)).   Low LTV/CLTV/HCLTV - LTV/CLTV is 42.20% w/a max allowed of 75% for asset utilization.; Low DTI - DTI is less than 35% w/a max allowed DTI of 43%.   Client: EV2 Post closing corrective action.  Copy of corrective PCCD provided reflecting the final recording fees and updated disbursement date with LOE to the borrower. B B B B B
xxxxx 6000045685 562366 12/03/2019 Property Subject Borrower does not match Appraisal Borrower Name APPR 0009 1 Closed Appraisal includes non-borrowing spouse as owner, however, vesting is only in the borrowers name. 12/17/2019 Verified housing payment history - Credit report confirms xxx months satisfactory mortgage rating.; Low LTV/CLTV/HCLTV - 42.93% LTV < 60% 12/17/2019 - Exception is cleared with the attached amended appraisal report. APPR 0009 Exception Cleared; 12/17/2019 - Exception is cleared with the attached amended appraisal report. APPR 0009 Exception Cleared; A A A A A
xxxxx 6000045685 562374 12/03/2019 Credit Missing Lease Agreement and/or Not Executed LEAS 0001 1 Closed 1) Lease for xxxxxx is incomplete. Only pg 1 provided - CLEARED 12/12

2) Missing evidence of current rent received of $xxxxx for month-to-month lease on xxxxxx.



 12/20/2019 Verified housing payment history - Credit report confirms xxx months satisfactory mortgage rating.; Low LTV/CLTV/HCLTV - 42.93% LTV < 60% 12/18/2019 - Exception re-reviewed and cleared. REO listed in Part 1 of the exception is reported through the borrowers xxxxxx business, thus no lease required. LEAS 0001 Exception Cleared;

12/12/2019 - Part 1 of the exception is cleared with the attached signed lease agreement. Lease was current at consummation. Part 2 of the exception remains. LEAS 0001 Exception Remains;

12/9/2019 - "2) This is only required when using bk stmt for income. This loan is full docs". ** Disagree, initial month to month lease expired, thus evidence of current receipt of rent is required to confirm lease is current and support the continuance of income. LEAS 0001 Exception Remains;		 12/18/2019 - Exception re-reviewed and cleared. REO listed in Part 1 of the exception is reported through the borrowers xxx business, thus no lease required. LEAS 0001 Exception Cleared; A A A A A
xxxxx 6000045685 562410 12/03/2019 Credit Missing Employment doc (VVOE) CRED 0006 2 Acknowledged Missing verification of xxxxxxxx for xxxxxxxxx. Positive xxxxxxxx income, xxxxxxx, was considered in qualifying.   Verified housing payment history - Credit report confirms xxx months satisfactory mortgage rating.; Low LTV/CLTV/HCLTV - 42.93% LTV < 60% 12/26/2019 - Exception is overridden to EV2 with the attached post-consummation dated SOS that is in support of the xxxx 1065 provided in file that documents 2+ years existence. CRED 0006 Exception Overridden to EV2;

12/9/2019 - "This is a rental property. No VVOEs are required for rental properties". ** Disagree, rental property is reported through the xxxxxxxxxx, thus verification of xxxxxx is required where xxxxxxx income is considered. CRED 0006 Exception Remains;

12/18/2019 - Lender posted response is insufficient to satisfy the exception. ** Rental property is reported through the xxxxxxxxxx, thus verification of xxxxxxxx is required where xxxxxxx income is considered. Provide 3rd Party verification of xxxxxxx as required per lender guide (es Secretary of State Search or CPA Letter). CRED 0006 Exception Remains;		 12/26/2019 - Exception is overridden to EV2 with the attached post-consummation dated SOS that is in support of the xxxx 1065 provided in file that documents 2+ years existence. CRED 0006 Exception Overridden to EV2;
Mitigated Risk: 12/26/2019 - Exception is overridden to EV2 with the attached post-consummation dated SOS that is in support of the xxxx 1065 provided in file that documents 2+ years existence. CRED 0006 Exception Overridden to EV2;		 B B B B B
xxxxx 6000045685 562433 12/03/2019 Credit Back-end Ratio exception (DTI) CRED 0004 2 Acknowledged UPDATED EXCEPTION:
Review calculated DTI 55.85 > 50%

1) Discrepancy noted in the lender calculated positive cash flow for subject of $xxxxx. Rental Income Worksheet reflects rents received of $xxxxx, however, actual rents received per 1065 is $xxxx. Review calculated positive cash flow:
Rent $xxxxx
Depreciation + $xxxx
Expense -$xxxx
Insurance +$xxxxx
Mortgage Interest +$xxxx
Tax +$xxx
Total $xxxxx / 12 = $xxxxx - PITI $xxxx = $xxxx

2) Missing investor acknowledgement for the exclusion of the lease payment of $xxxx. Per lender guide, vehicle lease payments must be included in DTI ratio if being returned early. Treated the same as a lease with < 10 payments remaining which must be included in DTI.





ORIG EXCEPTION:

Review calculated DTI 59.23 > 50%

1) Borrower was qualified using positive cash flow on subject of $xxxx per xxxx 1065. Loan was transferred from the LLC to borrower individually, thus review used gross rents per lease agreements of $xxxx with 25% vacancy factor resulting in positive rental income of $xxxx/mo.

2) Borrower turned in the auto lease early so the lease payment of $xxxx was excluded in qualifying. Per lender guide, vehicle lease payments must be included in DTI ratio if being returned early. Treated the same as a lease with < 10 payments remaining which must be included in DTI.

***Rental income was calculated using net + ins + tax + mortgage int + dep, however, rental properties are reported on the 1065 returns. Review used net + depreciation / 12 = total / .5 (borrower is only 50% owner).		   Verified housing payment history - Credit report confirms xxx months satisfactory mortgage rating.; Low LTV/CLTV/HCLTV - 42.93% LTV < 60% 2/28/2020 - "xxxxx acknowledges that lease payment is being excluded and elects to proceed. Borrower turned in lease early and payment is being excluded from DTI". CRED 0004 Exception Overridden to EV2;

2/27/2020 - "Updated information provided shows originator used new lease amounts based on leased and documented receipt of rents attached. Original calculated DTI 51.02% is valid which would constitute gross rent with vacancy factor to calculate net rental income. STI > 50% acknowledged by xxx. xxxxx elects to waive. Compensating factors noted: $xxxx month residual income exceeds VA requirement by 3X required amount and 758 qualifying is at least 20 points higher than minimum FICO". ** Exception is partially overridden. Still missing investor acknowledgement for the exclusion of the lease payment (Reference Part 2 of the exception).
CRED 0004 Exception Remains;

2/19/2020 - Lender posted response is insufficient to satisfy the exception. Provide investor acknowledgment of the qualifying rental income calculation for subject property:
Gross Rent per Lease(s) x 12 = $xxxx
xxxx 1065 Depreciation + $xxxx
xxxx 1065 Expense -$xxxx
xxxx 1065 Insurance +$xxxx
xxxx 1065 Mortgage Interest +$xxxx
xxxx 1065 Tax +$xxxx
Total $xxxx / 12 = $xxxx - PITI $xxxx = $xxxxx

Also missing investor acknowledgement for the exclusion of the lease payment (Reference Part 2 of the exception).
CRED 0004 Exception Remains;

2/10/2020 - "xxxx reviewed and accepts use of tax returns vs lease x 75% (vacancy factor). xxxx elects to waive. Compensating factors noted: $xxxxx month residual income exceeds VA requirements by 3X required amount and 758 qualifying is at least 20 points higher than minimum FICO". ** No exception cleared. Missing investor acknowledgement for the exclusion of the lease payment. Also missing investor acknowledgement for DTI 55.85 > 50%, with lease excluded and cash flow on subject calculated as approved by investor of net + ins + tax + mortgage int + dep. Discrepancy noted in the lender calculated positive cash flow for subject of $xxxxx. Rental Income Worksheet reflects rents received of $xxxx, however, actual rents received per 1065 is $xxxx. Review calculated positive cash flow:
Rent $xxxx
Depreciation + $xxxxx
Expense -$xxxx
Insurance +$xxxx
Mortgage Interest +$xxxxx
Tax +$xxxx
Total $xxxx / 12 = $xxxx - PITI $xxxxx = $xxxx
CRED 0004 Exception Remains;

12/18/2019 - Lender posted response is insufficient to satisfy the exception. ** Rental property was transferred from the LLC to borrower individually, thus gross rent with vacancy factor should have been used to calculate net rental income. DTI 51.02 > 50% with 75% gross rents considered and lease liability excluded. Missing investor acknowledgment of the exception to lender guide (Ref Part 2 of the original exception). CRED 0004 Exception Remains;

12/17/2019 - Attached documentation was presented in the original loan file. Missing investor acknowledgment of the exception to lender guide (Ref Part 2 of the original exception). CRED 0004 Exception Remains;		 Client: 2/28/2020 - "xxx acknowledges that lease payment is being excluded and elects to proceed. Borrower turned in lease early and payment is being excluded from DTI".

2/27/2020 - "Updated information provided shows originator used new lease amounts based on leased and documented receipt of rents attached. Original calculated DTI 51.02% is valid which would constitute gross rent with vacancy factor to calculate net rental income. STI > 50% acknowledged by xxx. xxx elects to waive. Compensating factors noted: $xxxx month residual income exceeds VA requirement by 3X required amount and 758 qualifying is at least 20 points higher than minimum FICO".

CRED 0004 Exception Overridden to EV2;		 B B B B B
xxxxx 6000045685 562484 12/03/2019 Credit Tax Returns/Transcripts are Insufficient CRED 0087 2 Acknowledged xxxxx 1065 tax returns are not signed.   Verified housing payment history - Credit report confirms xxx months satisfactory mortgage rating.; Low LTV/CLTV/HCLTV - 42.93% LTV < 60% 2/6/2020 - "xxxx reviewed and will accept. Tax returns do not need to be  signed per guidelines. The 4506T was executed. Business income flows to the personal 1040s (which it does in the case of 1065 income). 1040 Transcripts validate business income used. xxx elects to waive. Compensating factors noted: $xxxx month residual income exceeds VA requirements by 3X required amount and 758 qualifying is at least 20 points higher than minimum FICO". CRED 0087 Exception Overridden to EV2;

12/26/2019 - Attached xxxx 1040 IRS Tax Transcripts are insufficient to satisfy the exception. ** Lender guide requires one year personal and business tax returns and IRS 1040 personal and business 4506T tax transcripts. Missing xxxxx 1065 IRS tax transcripts. Unsigned tax returns do not satisfy lender guide requirements. CRED 0087 Exception Remains;

12/18/2019 - Lender posted response is insufficient to satisfy the exception. Lender guide requires one year personal and business tax returns and IRS 1040 personal and business 4506T tax transcripts. No IRS tax transcripts provided. Unsigned tax returns do not satisfy lender guide requirements. CRED 0087 Exception Remains;		 Client: 2/6/2020 - "xxxx reviewed and will accept. Tax returns do not need to be  signed per guidelines. The 4506T was executed. Business income flows to the personal 1040s (which it does in the case of 1065 income). 1040 Transcripts validate business income used. xxxx elects to waive. Compensating factors noted: $xxxxx month residual income exceeds VA requirements by 3X required amount and 758 qualifying is at least 20 points higher than minimum FICO". CRED 0087 Exception Overridden to EV2; B B B B B
xxxxx 6000045685 562489 12/03/2019 Credit Credit Documentation is Insufficient CRED 0093 1 Closed Missing gap credit report. Credit report provided in file dated xxxxx, which is 120 days from the disbursement date. 12/20/2019 Verified housing payment history - Credit report confirms xxx months satisfactory mortgage rating.; Low LTV/CLTV/HCLTV - 42.93% LTV < 60% 12/18/2019 - Per lender guide, all credit documents including credit report  must be dated no more than 120 days prior to the Note date. xxxx dated xxxx, which is exactly 120 prior to the Note date, thus exception is cleared. CRED 0093 Exception Cleared;

12/6/2019 - Attached updated lender guide revision effective date xxxx is after the application date, thus not used for review. Additionally, Credit report is dated xxxx, which is 60 + days prior to the application date. Attached guideline stated credit report is good for 120 days from application to closing. CRED 0093 Exception Remains;		 12/18/2019 - Per lender guide, all credit documents including credit report  must be dated no more than 120 days prior to the Note date. xxxx dated xxxxx, which is exactly 120 prior to the Note date, thus exception is cleared. CRED 0093 Exception Cleared;
 A A A A A
xxxxx 6000045685 562493 12/03/2019 Credit Income Documentation is Insufficient CRED 0082 2 Acknowledged Missing YTD P&L for borrowers 1065 xxxxxxxxx businesses (pg 151,167,181).   Verified housing payment history - Credit report confirms xxx months satisfactory mortgage rating.; Low LTV/CLTV/HCLTV - 42.93% LTV < 60% 2/10/2020 - "xxxxx reviewed ok to proceed without YTD P&L. xxxxx elects to waive. Compensating factors noted: $xxxxxx month residual income exceeds VA requirements by 3X required amount and 758 qualifying is at least 20 points higher than minimum FICO. CRED 0082 Exception Overridden to EV2;

12/18/2019 - Lender posted response is insufficient to satisfy the exception. YTD financial statements are required for the 1065 xxxxxxxxxxx businesses. CRED 0082 Exception Remains;		 Client: 2/10/2020 - "xxxx reviewed ok to proceed without YTD P&L. xxxx elects to waive. Compensating factors noted: $xxxxx month residual income exceeds VA requirements by 3X required amount and 758 qualifying is at least 20 points higher than minimum FICO. CRED 0082 Exception Overridden to EV2; B B B B B
xxxxx 6000046410 562831 12/04/2019 Credit Final 1003 Application is Incomplete APP 0002 1 Closed Missing a copy of the final application signed by the borrowers. 12/10/2019     12/10/2019 - Lender provided a copy of the 1003 signed at closing. A A A A A
xxxxx 6000046410 562851 12/04/2019 Compliance Missing Intent to Proceed TRID 0130 1 Closed Missing Intent to Proceed 12/12/2019     12/10/2019 - Recd the borrowers intent to proceed dated  xx/xx/xxxx. A A A A A
xxxxx 6000046410 562852 12/04/2019 Compliance Missing E-Sign Disclosure TRID 0134 1 Closed Missing E-Sign Disclosure.  Borrowers did acknowledge the initial disclosures via electronic signature. 12/12/2019   12/11/2019 - Recd e-sign consent for B1.  Exception cleared.
12/10/2019 - Exception is partially cleared with the e-sign consent for B2.  Pending is the e-sign consent for B1.		 12/11/2019 - Recd e-sign consent for B1.  Exception cleared. A A A A A
xxxxx 6000046410 562861 12/04/2019 Credit Missing Closing Protection Letter in File TITL 0005 1 Closed Missing Closing Protection Letter from file. 12/10/2019     12/10/2019 - Recd a copy of the CPL. A A A A A
xxxxx 6000046410 562867 12/04/2019 Credit Compliance Submission Pending Update COMP 0043 1 Closed Current status is ERROR 12/10/2019     Exception fired due to an issue with XXXXX.  Issue has been resolved.  Exception cancelled. A A A A A
xxxxx 6000046410 565109 12/10/2019 Compliance Document Intent to Proceed with the Transaction TRID 0047 1 Closed You did not submit an Intent to Proceed Date, which represents the date the consumer acknowledged their intent to proceed with the transaction described by the Loan Estimate. The creditor must document this communication to satisfy the requirements of 1026.25. Neither a creditor nor any other person may impose a fee, other than a credit report fee, before the consumer has received the Loan Estimate and indicated to the creditor an intent to proceed with the transaction described by the Loan Estimate. (12 CFR 1026.19(e)(2)(i)(A)) 12/10/2019     12/10/2019 - Recd the borrowers? intent to proceed. A A A A A
xxxxx 6000046391 564005 12/06/2019 Compliance Missing Affiliated Business Disclosure COMP 0010 1 Closed Affiliated Business Disclosure was missing from the file.  File does not contain a FACTS Privacy Notice indicating who they share with and whether they have affiliates. 12/19/2019   12/16/2019 - Recd FACTS notice reflecting FBC does not have any affiliates.  Exception cleared. 12/16/2019 - Recd FACTS notice reflecting FBC does not have any affiliates.  Exception cleared. A A A A A
xxxxx 6000046391 564007 12/06/2019 Compliance Borrower(s) did not receive Notice to Home Loan Applicant FACT 0001 2 Acknowledged Credit Score Disclosure-Notice to Home Loan Applicant for Experian score was not located in the file received.     12/16/2019 - Recd a copy of the Credit Score Disclosure-Notice to Home Loan Applicant for TransUnion score.  Exception remains pending Experian.  Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000046391 564840 12/09/2019 Compliance All title holders did not execute the Mortgage/DOT DEED 0037 1 Closed Missing Mortgage/DOT so unable to confirm if non-borrowing title holder signed.  No warranty deed in the file. 12/19/2019   12/16/2019 - Recd the Mortgage reflecting both parties signed.  Exception cleared. 12/16/2019 - Recd the Mortgage reflecting both parties signed.  Exception cleared. A A A A A
xxxxx 6000046391 564842 12/09/2019 Compliance Missing Warranty Deed (Purchase Only) DEED 0048 1 Closed Missing copy of the warranty deed reflecting transfer of the property from the seller to the borrower (and non-borrowing spouse if applicable) 12/19/2019   12/16/2019 - Recd the Warranty Deed transferring title to borrower and NBS.  Exception cleared. 12/16/2019 - Recd the Warranty Deed transferring title to borrower and NBS.  Exception cleared. A A A A A
xxxxx 6000046391 564849 12/09/2019 Compliance Mortgage/Deed of Trust is Incomplete DEED 0049 1 Closed Missing Mortgage/Deed of Trust from the file received. Unable to confirm it is complete, accurate, and fully executed.  12/19/2019   12/16/2019 - Recd the Mortgage.  Exception cleared. 12/16/2019 - Recd the Mortgage.  Exception cleared. A A A A A
xxxxx 6000046391 564851 12/09/2019 Property HPML Appraisal Requirements are Not Met APPR 0044 1 Closed The appraiser did not include an executed certification stating the appraisal was prepared in accordance with Title XI of FIRREA and any implementing regulations, as required for HPML loans. 01/06/2020   1/2/2019 - Recd Appraisal Compliance Addendum including FIRREA statement.  Exception cleared. 1/2/2019 - Recd Appraisal Compliance Addendum including FIRREA statement.  Exception cleared. A A A A A
xxxxx 6000046391 564852 12/09/2019 Property Missing Third Party Appraisal Review APPR 0046 2 Acknowledged Missing investor approval of the appraisal.         Client: Override to EV2.  File contains a Clear Capital desk revie reflecting a 0% variance from the original appraised value. B B B B B
xxxxx 6000046391 564854 12/09/2019 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 2 Acknowledged 1. The 1003 signed at closing reflects the borrower owns departure residence, according to all other documents xxx has only rented.  Borrower provided an LOE prior to closing date advising this was incorrect but the 1003 was not updated until after the closing date.
2. The 1003 signed at closing reflects bonus income that was not documented or used to qualify.
3. The 1003 signed at closing reflects an account that does not belong to the borrower.		       Client: Override to EV2 for immaterial issue.  A post closing 1003 is available in the file with all three items corrected. B B B B B
xxxxx 6000046391 568893 12/19/2019 Compliance APN Number is not listed on Security Instrument COLL 0001 2 Acknowledged The Mortgage does not include the APN/PIN/Tax identification number.       Override to EV2 for immaterial issue.  The document does include the full legal description in Exhibit A.
Mitigated Risk: Override to EV2 for immaterial issue.  The document does include the full legal description in Exhibit A.		 B B B B B
xxxxx 6000047812 565964 12/12/2019 Compliance Missing revised LE after Change of Circumstance TRID 0172 1 Closed There is a COC in the file referencing an LE redisclosed , however, this LE not found in file. 12/23/2019 Low DTI - DTI below max by 5% or greater    12/23/19 Recd copy of the LE. A A A A A
xxxxx 6000047812 565985 12/12/2019 Compliance Estimated Total Minimum/Maximum Payment Amount does not match the Disclosed Closing Disclosure Projected Payments Table (12 CFR 1026.37(b)(3)) TRID 0092 1 Closed Property taxes in projected payments are incorrect.  Lender used semi-annual figure as the annual figure. --The Estimated Total Maximum Payment Amount in column 1 of the Disclosed Closing Disclosure Projected Payments Table does not match the value in the System Calculated Projected Payments Table.The Disclosed Projected Payments Table contains a value of (xxxxx, while the Calculated Projected Payments Table has a value of (xxxxxx). 01/09/2020 Low DTI - DTI below max by 5% or greater  1/2/2019 - Recd from lender: "Please be advised that the CD is correct as is. The prelim shows yearly taxes of  how ever it also shows they are paid thru xxxxx. Escrows are based off the second installment due only so the borrower does not over pay his escrows.
**Exception cleared.  Projected payments match the initial escrow account disclosure.  CRED 0103 added.

12/23/19 Attached documentation is insufficient to satisfy the exception. Finding Remains;		 **Exception cleared.  Projected payments match the initial escrow account disclosure.  CRED 0103 added.  A A A A A
xxxxx 6000047812 567947 12/17/2019 Credit Initial 1003 Application is Incomplete APP 0004 2 Acknowledged Missing a copy of the initial signed application, required for bank statement loans for borrower to validate stated income.  The copy in the file is only signed by the LO.   Low DTI - DTI below max by 5% or greater    Client: Override to EV2 for investor acknowledged exception. B B B B B
xxxxx 6000047812 575369 01/09/2020 Credit Missing Evidence of Verified Property Tax and / or Homeowners Insurance Information CRED 0103 2 Acknowledged Property taxes used for qualification purposes are incorrect.  Lender used semi-annual figure as the annual figure.   Low DTI - DTI below max by 5% or greater    DTI using the correct monthly tax amount of $xxxxx is within tolerance.
Mitigated Risk: DTI using the correct monthly tax amount of $xxxxx is within tolerance.		 B B B B B
xxxxx 6000045708 568029 12/17/2019 Property Missing Certificate of Occupancy PROP 0012 1 Closed Missing Certificate of Occupancy for this new construction property. 01/09/2020 Established credit history - FICO score above minimum by 20 points or higher.; Verified employment history - Job stability of xxx years or more. 1/2/2020 - Recd COO.  Exception cleared. 1/2/2020 - Recd COO.  Exception cleared. A A A A A
xxxxx 6000045708 568030 12/17/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed 1. Missing evidence that taxes, insurance, and HOA dues (if applicable) are included in the mortgage payment for additional REO.
2. Missing documentation for PITIA on additional undisclosed REO reflected on the fraud report. 		 12/23/2019 Established credit history - FICO score above minimum by 20 points or higher.; Verified employment history - Job stability of xxx years or more.   12/23/19 Recd verification of taxes and insurance are included in the mtg payment. A A A A A
xxxxx 6000045708 568031 12/17/2019 Credit Missing Documentation or Proof of ATR Underwriting Factors QMATR 0016 1 Closed Missing documentation of PITIA for the borrower's additional REO and asset documentation.   12/23/2019 Established credit history - FICO score above minimum by 20 points or higher.; Verified employment history - Job stability of xxx years or more.   12/23/19 Recd verification of taxes and insurance are included in the mortgage payment of with verification of HOA dues.  XXX accepted bank printouts as submitted. A A A A A
xxxxx 6000045708 568032 12/17/2019 Credit Asset Documentation is Insufficient CRED 0083 2 Acknowledged Missing statements source of funds for closing.  Only transaction histories are included in the file. Full Asset Documentation is required for both funds to close and reserves. For most asset types, this would include all pages of the most recent 2 months statements, the most recent quarterly statement, or FNMA approved third party direct pull services.     Established credit history - FICO score above minimum by 20 points or higher.; Verified employment history - Job stability of xxx years or more.   Client:XXXElects to Waive -Transaction print outs include the borrowers name, and last 4 digests of the account, balance available and covers transactions over the last 90 days. Noted compensating factors: Established credit history, FICO score above the minimum by 20 pts or higher, verified employment history.    B B B B B
xxxxx 6000046201 568442 12/18/2019 Credit Final 1003 Application is Incomplete APP 0002 1 Closed Final application is not signed or dated by borrowers. pg 43. 12/31/2019   12/26/2019 - Recd final application signed by borrowers.  Exception cleared. 12/26/2019 - Recd final application signed by borrowers.  Exception cleared. A A A A A
xxxxx 6000046201 568460 12/18/2019 Compliance Missing Intent to Proceed TRID 0130 1 Closed Missing Intent to Proceed 01/09/2020   12/26/2019 - Recd ITP.  Appraisal is dated prior to intent to proceed. TRID 0192 added, this exception cleared. 12/26/2019 - Recd ITP.  Appraisal is dated prior to intent to proceed. TRID 0192 added, this exception cleared. A A A A A
xxxxx 6000046201 568461 12/18/2019 Compliance Missing E-Sign Disclosure TRID 0134 1 Closed Missing E-Sign Disclosure 01/09/2020   1/6/2020 - Received e-consent from B2.  Exception cleared.
12/26/2019 - Exception is partially cleared with lender posted documentation.  E-Consent for B1 has been received.  Exception remains pending e-consent for co-borrower who also e-signed documentation.		 1/6/2020 - Received e-consent from B2.  Exception cleared. A A A A A
xxxxx 6000046201 568465 12/18/2019 Credit Missing Closing Protection Letter in File TITL 0005 1 Closed Missing Closing Protection Letter in File 01/09/2020   1/6/2020 - Recd CPL.  Exception cleared. 1/6/2020 - Recd CPL.  Exception cleared. A A A A A
xxxxx 6000046201 568990 12/19/2019 Credit Asset Documentation is Insufficient CRED 0083 1 Closed Short funds to close.  Missing settlement statement from sale of departing primary.. 01/21/2020   1/15/2020 - Recd PCCD reflecting a disbursement date of 12/9/2020.  Exception cleared.

12/26/2019 - Recd settlement statement from the sale of xxxxxx, however it reflects a disbursement date of xxxxxx.  The CD and seller CD in the file reflect disbursement date of xxxxxx.  Exception remains pending documentation of the source of funds used to close this property, if departure proceeds were not yet available on the closing and disbursement dates.		 1/15/2020 - Recd PCCD reflecting a disbursement date of xx/xx/xxxx.  Exception cleared. A A A A A
xxxxx 6000046201 572307 12/31/2019 Compliance Appraisal Dated prior to Intent to Proceed Date TRID 0192 1 Closed Appraisal Dated prior to Intent to Proceed Date and was paid for prior to closing.  Fees cannot be incurred until intent has been provided.   01/09/2020   1/6/2020 - Received intent to proceed dated prior to appraisal.  Exception cleared. 1/6/2020 - Received intent to proceed dated prior to appraisal.  Exception cleared. A A A A A
xxxxx 6000048386 571460 12/27/2019 Credit Credit Documentation is Insufficient CRED 0093 1 Closed Missing corrected rent free letter and/or clarification.  The borrower's primary residence per all documentation in the file does not match the address on the rent free letter in the file.   01/21/2020 Verified credit history - FICO score above minimum by 20 points or higher ; Conservative use of credit - Residual income $xxxxx above the minimum required 01/14/2020 - Recd updated LOE with corrected address.  Exception cleared. 01/14/2020 - Recd updated LOE with corrected address.  Exception cleared. A A A A A
xxxxx 6000048386 571462 12/27/2019 Credit Income Calculation Discrepancy CRED 0084 2 Acknowledged Loan is locked as full doc, but only one year tax return income was used to calculating rental income for additional REO.  Review used two year average.   Verified credit history - FICO score above minimum by 20 points or higher ; Conservative use of credit - Residual income $xxxxx above the minimum required   Borrower qualifies using reviewer's rental income calculation.
Mitigated Risk: Borrower qualifies using reviewer's rental income calculation.		 B B B B B
xxxxx 6000048386 571463 12/27/2019 Credit Asset Documentation is Insufficient CRED 0083 1 Closed Updated:
Missing explanation and supporting documentation for the large deposit of $xxxxx into xxxxxx on xxxxx.

Original:
Missing xxxxxx statements for xxxxxx.  File contains xxxxxx for all three accounts (#xxxxx and #xxxxx on the same statement) but nothing for xxxxxx.  		 02/06/2020 Verified credit history - FICO score above minimum by 20 points or higher ; Conservative use of credit - Residual income $xxxxx above the minimum required 2/4/2020 - Lender advised to back out large deposit.  Resulting assets short funds for reserves.  This exception cleared, CRED 0100 remains.
01/22/2020 - Recd asset statements and PCCD.  Exception remains pending source of $xxxxx deposit.
01/14/2020 - Recd xxxx statements which reflect a large deposit.  Exception remains pending LOE and supporting documentation.		 2/4/2020 - Lender advised to back out large deposit.  Resulting assets short funds for reserves.  This exception cleared, CRED 0100 remains. A A A A A
xxxxx 6000048386 571464 12/27/2019 Credit Missing Asset Documentation Type CRED 0063 1 Closed Funds for closing came from a 1031 Exchange, however no 1031 exchange documentation was located in the file.  Missing contract and final statement. 01/21/2020 Verified credit history - FICO score above minimum by 20 points or higher ; Conservative use of credit - Residual income $xxxxx above the minimum required 1/14/2020 - Recd 1031 contract. Exception cleared. 1/14/2020 - Recd 1031 contract. Exception cleared. A A A A A
xxxxx 6000048386 571465 12/27/2019 Credit Underwriting Loan Approval is Deficient APRV 0010 1 Closed Missing evidence of agency ineligibility. 01/21/2020 Verified credit history - FICO score above minimum by 20 points or higher ; Conservative use of credit - Residual income $xxxxx above the minimum required 1/13/2020 - Recd updated 1008 stating not eligible due to loan amount.  Exception cleared. 1/13/2020 - Recd updated 1008 stating not eligible due to loan amount.  Exception cleared. A A A A A
xxxxx 6000048386 571466 12/27/2019 Credit Missing proof of PITI payment on non-subject property CRED 0096 2 Acknowledged Missing evidence of the HOA dues on REO.   Verified credit history - FICO score above minimum by 20 points or higher ; Conservative use of credit - Residual income $xxxxx above the minimum required 01/14/2020 - Recd schedule E from the tax return.  Exception remains pending third party verification of the HOA dues on REO. Figure from the 1040 is supported by the fraud report (p403).  
Mitigated Risk: Figure from the 1040 is supported by the fraud report (p403).  		 B B B B B
xxxxx 6000048386 571467 12/27/2019 Credit Insufficient verified reserves CRED 0100 2 Acknowledged Borrower is short reserves.  xxx months reserves required, $xxxxx.  Borrowers funds total $xxxxx.  Variance is $xxxxx, or $xxxxx/month of PITIA.     Verified credit history - FICO score above minimum by 20 points or higher ; Conservative use of credit - Residual income $xxxxx above the minimum required 2/4/2020 - Lender posted response is insufficient to satisfy the exception. Finding Remains but overridden for mitigating circumstances;
01/22/2020 - Attached documentation is insufficient to satisfy the exception. Finding Remains;
1/13/2020 - Attached documentation is insufficient to satisfy the exception. Finding Remains;.		 2/4/2020 - Reviewer used 1.25% calculation for property taxes, county assessor website reflects a rate of 1.11769%.  If the actual rate is used the reserves required are $xxxxxx and borrower funds are sufficient.
Mitigated Risk: 2/4/2020 - Reviewer used 1.25% calculation for property taxes, county assessor website reflects a rate of 1.11769%.  If the actual rate is used the reserves required are $xxxxxx and borrower funds are sufficient.		 B B B B B
xxxxx 6000048383 575127 01/08/2020 Credit Missing Employment doc (VOE) CRED 0007 1 Closed Missing an internet search of borrower 1's xxxxxxx business.   01/20/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher ; Verified housing payment history - Reduction in housing payment by 10% or greater  1/9/2020 - Recd internet search.  Exception cleared. 1/9/2020 - Recd internet search.  Exception cleared. A A A A A
xxxxx 6000048383 575311 01/09/2020 Compliance LE or CD is Deficient TRID 0148 1 Closed Missing final CD reflecting the corrected disbursement date, prepaid interest, title and recording fees, etc.  The CD signed at closing does not match the final settlement statement provided by the title company. 01/20/2020 Verified reserves - PITIA reserves above minimum by 6 months or higher ; Verified housing payment history - Reduction in housing payment by 10% or greater  1/13/2020 - Recd PCCD issued on xxxxxxx.  Fees match final settlement statement.  Bottom line does not, only due to a lender credit to cure increase to recording fees above 10%.  Exception cleared.  1/13/2020 - Recd PCCD issued on xxxxxx.  Fees match final settlement statement.  Bottom line does not, only due to a lender credit to cure increase to recording fees above 10%.  Exception cleared.  A A A A A
xxxxx 6000048455 577063 01/13/2020 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 2 Acknowledged Years Employed in Current Position missing for xxxxxxx of the Final Application   Low LTV/CLTV/HCLTV - Low LTV of 51.526%.; Verified reserves - File contains proof of xxxxx months of  verified reserves. 1/17/2020 - Recd post closing 1003, page 1 cut off for employment history.  Exception remains but overridden as immaterial. Client: Override to EV2 for immaterial issue. B B B B B
xxxxx 6000048455 577133 01/13/2020 Compliance Missing Evidence of Re-disclosure and a valid COC for the sum of non-specific (lump sum) lender credits and specific lender credits ($) that have decreased from the amount disclosed on the Loan Estimate/Closing Disclosure.   TRID 0121 1 Closed Missing COC for decrease of Lender Credit on CD dated xxxx -- The sum of non-specific (lump sum) lender credits and specific lender credits ($xxxxxx) has decreased from the amount disclosed on the Loan Estimate sent on xxxxxxxx, ($xxxxx). Non-specific lender credits are generalized payments that do not pay for a particular fee. Specific lender credits are specific payments to pay for a specific fee. The total amount of non-specific and specific lender credits cannot decrease unless a new disclosure is provided and there is a valid changed circumstance associated with the re-disclosure. (12 CFR 1026.19e)(3)(i) and comments 19(e)(3)(i)-5 and -6; 12 CFR 1026.37(g)(6); 12 CFR 1026.38(h)). 01/21/2020 Low LTV/CLTV/HCLTV - Low LTV of 51.526%.; Verified reserves - File contains proof of xxxxx months of  verified reserves.   1/17/2020 - Recd COC and reran compliance testing with no new findings.  Exception cleared. A A A A A
xxxxx 6000045465 578989 01/17/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed Rental income from xxxxxx was used to qualify the borrowers.  Two of the leases are expired, but there is evidence of receipt from the tenants on the bank statements.  However the photo of the subject in the appraisal reflects subject has a sign reading "For Rent."  Missing explanation from borrowers for which unit was on the market for lease, to determine if rent from one or more units should be excluded from subject net rental calculation. 01/24/2020 Low DTI - Low DTI of 39.23%.; None - xxxxxxx (xxxxxxxxx) has been employed with xxxxxx as xxxxxxx for xxxxxxx years.   01/24/2020 - Recd advice that only one lease is expired, basing off of the Operating Income statement.  Using the actual leases there are two.  Still unable to determine which unit was listed for rent. Updated based on tax returns which support a lower figure than the xxx units rented.  Exception cleared. A A A A A
xxxxx 6000045465 578990 01/17/2020 Credit Underwriting Loan Approval is Deficient APRV 0010 1 Closed Missing evidence of agency ineligiblity.  File contains an AUS reflecting a recommendation of Approve/Eligible 01/24/2020 Low DTI - Low DTI of 39.23%.; None - xxxxxxx (xxxxxxxxx) has been employed with xxxxxx as xxxxxxx for xxxxxxx years. 1/24/2020 - Recd advice from investor that lower rate is acceptable as reason.  Exception cleared.

1/22/2020 - Recd Processor cert stating investor rates are better.  Guidelines require evidence that the loan is not eligible for agency.  Exception remains		 1/24/2020 - Recd advice from investor that lower rate is acceptable as reason.  Exception cleared. A A A A A
xxxxx 6000052498 580847 01/23/2020 Compliance Missing Affiliated Business Disclosure COMP 0010 2 Acknowledged Missing Affiliated Business Disclosure.    Low DTI - DTI below max by 5% or greater ; Established credit history - FICO score above minimum by 20 points or higher    Client: Attestation is available that the lender does not have any affiliates. B B B B B
xxxxx 6000052498 581193 01/24/2020 Credit Asset Documentation is Insufficient CRED 0083 2 Acknowledged Missing xxxxx statement to source funds used for asset utilization.  Only xxxxx months statements are in the file, xxxx required per guideline.   Low DTI - DTI below max by 5% or greater ; Established credit history - FICO score above minimum by 20 points or higher    Client: Override to EV2 for investor acknowledged exception. B B B B B
xxxxx 6000052498 581206 01/24/2020 Credit Missing Verification of Liability (Contingent or Otherwise) CRED 0097 2 Acknowledged Missing evidence that the xxxxxx has been making the mortgage payment on the property awarded to xxxxx in the separation agreement.  In order to exclude non-mortgage or mortgage debts from the borrower's DTI ratio, the lender must obtain the most recent xxx months' canceled checks (or bank statements) from the other party making the payments that document a xx month payment history with no delinquent payments.   Low DTI - DTI below max by 5% or greater ; Established credit history - FICO score above minimum by 20 points or higher    Client: Override to EV2 for investor acknowledged exception. B B B B B
xxxxx 6000052498 581209 01/24/2020 Credit Income Calculation Discrepancy CRED 0084 2 Acknowledged Reviewer's calculation varies from the lender's.  Asset utilization was used, lender applied xxx% to the xxxxxxxxx and xxxx accounts as qualified income.  Reviewer applied xxxx% as per guidelines for xxxxxx.   Low DTI - DTI below max by 5% or greater ; Established credit history - FICO score above minimum by 20 points or higher    Borrower qualifies using the reviewer's calculation.
Mitigated Risk: Borrower qualifies using the reviewer's calculation.		 B B B B B
xxxxx 6000052498 581212 01/24/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing third party appraisal review and investor approval of the value. 02/04/2020 Low DTI - DTI below max by 5% or greater ; Established credit history - FICO score above minimum by 20 points or higher  1/30/2020 - Recd desk review supporting the original opinion of value.  Exception cleared. 1/30/2020 - Recd desk review supporting the original opinion of value.  Exception cleared. A A A A A
xxxxx 6000052498 581316 01/24/2020 Property Missing Appraiser License APPR 0043 2 Acknowledged Missing an appraiser's license that was active on the appraisal report date.     Low DTI - DTI below max by 5% or greater ; Established credit history - FICO score above minimum by 20 points or higher    Appraiser LOE is in the file stating his renewed license had not arrived yet.  Online search confirms that the appraiser had an active license on the report date.
Mitigated Risk: Appraiser LOE is in the file stating his renewed license had not arrived yet.  Online search confirms that the appraiser had an active license on the report date.		 B B B B B
xxxxx 6000053430 581238 01/24/2020 Compliance Missing Affiliated Business Disclosure COMP 0010 1 Closed Missing Affiliated Business Disclosure, however, affiliates listed on FACTA sheet.  02/05/2020 Low DTI - DTI below max by 5% or greater ; Verified reserves - PITIA reserves above minimum by 6 months or higher  2/5/2020- Reviewed file.  FACTA does not indicate the lender has affiliates.  Exception cleared.
1/30/2020 - Recd portal response that lender does not have affiliates. If lender has no affiliates, we need an official attestation on company letterhead that is signed by an officer of the institution that confirms there are no affiliated business relationships to disclose, thus no ABD is required.  The official signed attestation needs to satisfactorily address the issue of why the privacy disclosure indicates that there are affiliates.  The exception can be overridden if the seller is able to provide a list of all affiliates and none of the affiliates were used in the transaction.		 2/5/2020- Reviewed file.  FACTA does not indicate the lender has affiliates.  Exception cleared. A A A A A
xxxxx 6000053430 581738 01/27/2020 Credit Missing ATR/QM Worksheet QMATR 0017 1 Closed ATR/QM worksheet not provided for review.  All loan files should contain underwriter worksheets which detail the qualifying income calculations and debt obligations considered or not considered (and reason for exclusion) 02/05/2020 Low DTI - DTI below max by 5% or greater ; Verified reserves - PITIA reserves above minimum by 6 months or higher  2/5/2020 - Reviewed file.  Income calculation worksheet available.  Exception cleared.
1/31/2020 - Recd Mavent compliance report.  Document does not address exception.  Refer to original exception comments.
1/29/2020 - Recd Mavent compliance report.  Document does not address exception.  		 2/5/2020 - Reviewed file.  Income calculation worksheet available.  Exception cleared. A A A A A
xxxxx 6000053430 581764 01/27/2020 Property HPML Appraisal Requirements are Not Met APPR 0044 1 Closed Appraiser Certification does not include any verbiage that the appraisal was prepared in accordance with Title XI of FIRREA -  "I performed this appraisal in accordance with the requirements of Title XI of the Financial Institution Reform, Recovery and Enforcement Act of 1989, (12 U.S.C.3331 et seq.), and any implementing regulations." 02/03/2020 Low DTI - DTI below max by 5% or greater ; Verified reserves - PITIA reserves above minimum by 6 months or higher  1/31/2020 - Recd revised appraisal (submitted under exception code QMATR 0017) including the FIRREA verbiage.  Exception cleared. 1/31/2020 - Recd revised appraisal (submitted under exception code QMATR 0017) including the FIRREA verbiage.  Exception cleared. A A A A A
xxxxx 6000053430 581765 01/27/2020 Credit LTV Exceeds Max Allowed CRED 0010 1 Closed LTV of 90% exceeds the maximum allowed of 85% when gift funds are used.  01/31/2020 Low DTI - DTI below max by 5% or greater ; Verified reserves - PITIA reserves above minimum by 6 months or higher    01/31/2020 - Reviewed loan.  Exception cancelled. A A A A A
xxxxx 6000053430 582168 01/28/2020 Credit Gift Funds not Properly Verified CRED 0018 2 Acknowledged Borrower received gift funds from a  non-family member on a transaction with LTV greater than 85%.   Low DTI - DTI below max by 5% or greater ; Verified reserves - PITIA reserves above minimum by 6 months or higher    Client: Override to EV2 for investor acknowledged exception. B B B B B
xxxxx 6000055618 585923 02/06/2020 Credit Missing Employment doc (VOE) CRED 0007 1 Closed Missing internet search of the borrower's business. 02/14/2020 Low LTV/CLTV/HCLTV - Low LTV.
; Verified employment history - Job stability of xxx years or more		 2/11/2020 - Recd internet search of the borrower's company.  Exception cleared. 2/11/2020 - Recd internet search of the borrower's company.  Exception cleared. A A A A A
xxxxx 6000055618 586005 02/06/2020 Credit Income Documentation is Insufficient CRED 0082 2 Acknowledged Updated:
CPA letter is insufficient.  The Tax Professional must certify that the Expense Ratio represents an accurate summary of the applicable cash expenses of the business.
Original:
CPA letter is insufficient.  The Tax Professional must certify that the Expense Ratio represents an accurate summary of the applicable cash expenses of the business.  Tax Professional License must be verified.  Missing certification from Tax Professional and verification of Tax Professional License.		   Low LTV/CLTV/HCLTV - Low LTV.
; Verified employment history - Job stability of xxx years or more		 2/11/2020 - Recd verification that the preparer of the CPA letter is an active enrolled agent.   Tax preparer's letter confirms a substantial history of preparing borrower's tax documents.  Expense ratio is reasonable for the business type.
Mitigated Risk: Tax preparer's letter confirms a substantial history of preparing borrower's tax documents.  Expense ratio is reasonable for the business type.		 B B B B B
xxxxx 6000055618 586009 02/06/2020 Credit Missing Letter of Explanation CRED 0104 2 Acknowledged Missing business narrative from the borrower.   Low LTV/CLTV/HCLTV - Low LTV.
; Verified employment history - Job stability of xxx years or more		 2/11/2020 - Recd investor waiver of the Business Narrative. Client: Override to EV2 for investor acknowledged exception. B B B B B
xxxxx 6000055618 586052 02/06/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing review appraisal and approval of value from the investor. 02/24/2020 Low LTV/CLTV/HCLTV - Low LTV.
; Verified employment history - Job stability of xxx years or more		 2/19/2020 - Recd SVR.  Exception cleared. 2/19/2020 - Recd SVR.  Exception cleared. A A A A A
xxxxx 6000053449 588649 02/12/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing third party appraisal review and investor approval of property. 02/20/2020 Verified reserves - PITIA reserves using xxxx above minimum by xxx months or higher ; Low DTI - DTI below max by xx% or greater    2/18/2020 - Recd desk review.  Exception cleared. A A A A A
xxxxx 6000053449 588678 02/12/2020 Credit Missing ATR/QM Worksheet QMATR 0017 1 Closed Missing ATR worksheet.  All loan files should contain underwriter worksheets which detail the qualifying income calculations and debt obligations considered or not considered (and reason for exclusion) 03/05/2020 Verified reserves - PITIA reserves using xxxx above minimum by xxx months or higher ; Low DTI - DTI below max by xx% or greater    All excluded debt was paid on the CD.  File does not contain an income calculator, but description of the income calculation method is available on the 1008. A A A A A
xxxxx 6000053449 588691 02/12/2020 Credit Income Calculation Discrepancy CRED 0084 2 Acknowledged Lender appears to have used the market rent of $xxxx to offset the subject PITIA.  Files does not contain a copy of the lease, and the rental income is reported on 1040s in the file.  Reviewer used cash flow analysis of schedule to calculate PITIA offset.   Verified reserves - PITIA reserves using xxxx above minimum by xxx months or higher ; Low DTI - DTI below max by xx% or greater    Using cash flow rental calculations the borrower's DTI is still within guidelines.
Mitigated Risk: Using cash flow rental calculations the borrower's DTI is still within guidelines.		 B B B B B
xxxxx 6000053449 588705 02/12/2020 Credit Undisclosed or Excluded Debt CRED 0086 2 Acknowledged Borrower is using the cash out from this transaction to make a down payment on a primary residence.  No property is selected.  If new property is obtained and the PITIA of that property exceeds $XXXX, DTI would exceed xx%.   Verified reserves - PITIA reserves using xxxx above minimum by xxx months or higher ; Low DTI - DTI below max by xx% or greater    Immaterial.  Observation regarding potential increase to DTI in near future.
Mitigated Risk: Immaterial.  Observation regarding potential increase to DTI in near future.		 B B B B B
xxxxx 6000053449 588722 02/12/2020 Compliance Initial CD Received Date is < 3 business days prior to Consummation Date TRID 0008 1 Closed Missing initial CD and evidence the borrower received it at least 3 business days prior to closing.  The Initial Closing Disclosure Received Date is not three business days before the consummation date.  Under Regulation Z, a consumer must receive the Initial Closing Disclosure reflecting the actual terms of the transaction no later than three business days before consummation. (12 CFR 1026.19(f)(1)(ii)(A)); 1026.19(f)(1)(iii)) 03/05/2020 Verified reserves - PITIA reserves using xxxx above minimum by xxx months or higher ; Low DTI - DTI below max by xx% or greater    2/14/2020 - Recd initial CD along with evidence of borrower receipt.  Exception cleared. A A A A A
xxxxx 6000054180 591172 02/20/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed 1.Missing evidence of where rent for additional REO is deposited.
2. Missing verification of market rent for additional REO supporting.		 02/24/2020 Low LTV/CLTV/HCLTV - Low LTV of 63.18%.; Low DTI - Low DTI of 30.37%. 2/24/2020 - Recd updated approval documentation with rent on this property no longer included.  Exception cleared. 2/24/2020 - Recd updated approval documentation with rent on this property no longer included.  Exception cleared. A A A A A
xxxxx 6000054180 591173 02/20/2020 Credit Underwriting Loan Approval is Deficient APRV 0010 2 Acknowledged Updated:
Approval Certificate reflects an appraised value that does not match the valuation reports in the file.  
Original:
1008 and Approval Certificate reflect an appraised value that does not match the valuation reports in the file.  		   Low LTV/CLTV/HCLTV - Low LTV of 63.18%.; Low DTI - Low DTI of 30.37%. 2/21/2020 - Recd updated 1008.  Exception remains for Approval Certificate but waived as an immaterial exception. Immaterial issue.  Corrected 1008 provided.
Mitigated Risk: Immaterial issue.  Corrected 1008 provided.		 B B B B B
xxxxx 6000054180 591174 02/20/2020 Credit Initial 1003 Application is Incomplete APP 0004 2 Acknowledged Missing a copy of the initial signed application, required for bank statement loans for borrower to validate stated income.  The copy in the file is only signed by the LO.   Low LTV/CLTV/HCLTV - Low LTV of 63.18%.; Low DTI - Low DTI of 30.37%.   Client: Override to EV2 for investor acknowledged exception. B B B B B
xxxxx 6000055715 590959 02/19/2020 Compliance Missing valid Change of Circumstance(s) TRID 0171 2 Acknowledged Missing COC for revised LE.   Verified reserves - File contains proof of xxxx months of verified reserves.; No Apparent Right to Statutory Damages - No Assignee Liability.   Override to EV2 due to immaterial issue.  No fee violations.
Mitigated Risk: Override to EV2 due to immaterial issue.  No fee violations.		 B B B B B
xxxxx 6000055715 590981 02/19/2020 Compliance Missing Home Loan Toolkit TRID 0133 1 Closed Missing evidence the Home Loan Toolkit was provided to the borrower. 03/18/2020 Verified reserves - File contains proof of xxxx months of verified reserves.; No Apparent Right to Statutory Damages - No Assignee Liability. 2/27/2020 - Recd tracking of e-delivery for Home Loan Toolkit.  Exception cleared. 2/27/2020 - Recd tracking of e-delivery for Home Loan Toolkit.  Exception cleared. A A A A A
xxxxx 6000055715 591001 02/19/2020 Compliance Initial Closing Disclosure Sent Method Not In Person and No Received Date TRID 0009 1 Closed Unable to determine method of delivery so the mailbox rule was applied.  --The Initial Closing Disclosure was provided via (U.S. Mail). Under Regulation Z, a consumer must receive the Initial Closing Disclosure reflecting the actual terms of the transaction not later than three business days prior to the consummation date. Since the Initial Closing Disclosure was not provided in person, a consumer is considered to have received it three business days after it was delivered or placed in the mail.  (12 CFR 1026.19(f)(1)(ii)(A)); 1026.19(f)(1)(iii)) 03/03/2020 Verified reserves - File contains proof of xxxx months of verified reserves.; No Apparent Right to Statutory Damages - No Assignee Liability. 2/27/2020 - Recd tracking of e-delivery for initial CD.  Exception cleared. 2/27/2020 - Recd tracking of e-delivery for initial CD.  Exception cleared. A A A A A
xxxxx 6000055715 596541 03/03/2020 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction.  Seller's CD reflects commission was paid.   Verified reserves - File contains proof of xxxx months of verified reserves.; No Apparent Right to Statutory Damages - No Assignee Liability.   Override to EV2 due to Immaterial Issue.  No Assignee Liability.
Mitigated Risk: Override to EV2 due to Immaterial Issue.  No Assignee Liability.		 B B B B B
xxxxx 6000054176 594288 02/26/2020 Credit Fraud report alerts have not been addressed FRAUD 0001 1 Closed Missing updated Fraud report with all alerts addressed. 03/03/2020     3/2/2020 - Reviewed fraud report, critical high risk issue is current residence vs reported residence which is sufficiently documented throughout the file.   A A A A A
xxxxx 6000054176 594292 02/26/2020 Credit Initial 1003 Application is Incomplete APP 0004 2 Acknowledged Initial 1003 erroneously marked Section V III as not a US Citizen and not a Perm Res Alien.       Client: Override to EV2 for immaterial issue.  CIP documented and information corrected on the final 1003. B B B B B
xxxxx 6000054176 595727 02/28/2020 Credit Credit Documentation is Insufficient CRED 0093 2 Acknowledged Missing verification of rental payment history.  Mortgage on credit is the ex-spouse's property, borrower hasn't been obligated since XXXX, and per LOE xxxxx has not lived there since XXXX.  1003 reflects xxxxx has been renting for xxx years, no verification of rental payment history located in the file.     3/3/2020 - Recd from lender that rental verification not obtained. Compensating factors noted.
Exception remains pending investor waiver of complete rental payment history.  		 Client: Override to EV2 for investor acknowledged exception. B B B B B
xxxxx 6000048449 576793 01/13/2020 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 2 Acknowledged Years Employed in Field of Work in incomplete on Final Application    Verified reserves - File contains proof of xx months of verified reserves.; Low DTI - Low DTI of 27.54%.   Override to EV2 due to Immaterial Issue. B B B B B
xxxxx 6000048449 576836 01/13/2020 Compliance Missing E-Sign Disclosure TRID 0134 1 Closed Missing E-Sign Disclosure 02/21/2020 Verified reserves - File contains proof of xx months of verified reserves.; Low DTI - Low DTI of 27.54%. 1/22/2020 - Recd e-sign consent.  Exception cleared. 1/22/2020 - Recd e-sign consent.  Exception cleared. A A A A A
xxxxx 6000048449 577756 01/15/2020 Credit Missing Tax Transcript(s) CRED 0091 1 Closed Missing Tax Transcript(s) 02/05/2020 Verified reserves - File contains proof of xx months of verified reserves.; Low DTI - Low DTI of 27.54%. 2/4/2020 - Recd 1040 transcripts, wage figures match W2s in the file.  Exception cleared. 2/4/2020 - Recd 1040 transcripts, wage figures match W2s in the file.  Exception cleared. A A A A A
xxxxx 6000052578 572396 12/31/2019 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged Final CD dated xx/xx/xx pg xxx-xxx does not reflect any sales commissions paid to the listing or selling agents.  Seller CD pg xxx does reflect the commissions paid.   Low LTV/CLTV/HCLTV - Low LTV of 60%.; Verified employment history - Borrower has been employed with xxxxxxx as xxx for xxx years.   Client: Override to EV2 due to Immaterial Issue. B B B B B
xxxxx 6000052578 572429 12/31/2019 Compliance Initial CD Received Date is < 3 business days prior to Consummation Date TRID 0008 1 Closed Confirmed the only CD in the file was dated xx/xx/xx but was not signed until xx/xx/xx. - The Initial Closing Disclosure Received Date of (xx/xx/xx) is not three business days before the consummation date of (xx/xx/xx). Three business days before the consummation date is (xxxxxx). Under Regulation Z, a consumer must receive the Initial Closing Disclosure reflecting the actual terms of the transaction no later than three business days before consummation. (12 CFR 1026.19(f)(1)(ii)(A)); 1026.19(f)(1)(iii)) 01/09/2020 Low LTV/CLTV/HCLTV - Low LTV of 60%.; Verified employment history - Borrower has been employed with xxxxxxx as xxx for xxx years.   01/09/2020 Recd copy of initial CD issued 11/19/19.  Finding cleared upon re-submission. A A A A A
xxxxx 6000052580 572765 01/02/2020 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged Final borrower CD dated xx/xx/xx (pg xxx) does not reflect as sales commissions paid to the listing or selling agents.   Verified employment history - Borrower has been employed with xxxx for xxxx years as xxxx.   Override to EV2 due to Immaterial Issue. B B B B B
xxxxx 6000052580 572793 01/02/2020 Compliance Missing evidence of the Seller Closing Disclosure TRID 0193 2 Acknowledged Missing copy of executed Seller CD.   Verified employment history - Borrower has been employed with xxxx for xxxx years as xxxx.   Override to EV2 due to Immaterial Issue. B B B B B
xxxxx 6000052573 573138 01/03/2020 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged Final borrower CD dated xx/xx/xx does not reflect any sales commissions paid to the listing or selling agents.   Low LTV/CLTV/HCLTV - Low LTV of 60%.; Verified employment history - Borrower has been employed with xxxx for xxxx years as a xxxx.   Override to EV2 due to Immaterial Issue. B B B B B
xxxxx 6000052589 575006 01/08/2020 Compliance Missing evidence of the Seller HUD1 HUD 0027 2 Acknowledged Missing Seller Closing Disclosure.    Verified housing payment history - x months of current and prior mortgage history paid x per credit report.    Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000052589 575068 01/08/2020 Credit Asset Documentation is Insufficient CRED 0083 1 Closed Large deposit of $xxxx (pg x) was sourced from business account (pg x). Account is in the name of xxx. Source of funds into business account were from the sale of property confirmed per Closing Disclosure (pg x). Missing evidence that borrower has ownership of xxx to confirm that these were borrower funds. If not borrower funds additional gift documentation may be required.  01/09/2020 Verified housing payment history - x months of current and prior mortgage history paid x per credit report.    xx/xx/xx Recd documentation to verify that the borrower is the sole owner of xxx A A A A A
xxxxx 6000052589 575202 01/09/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing Desk Review (Summit to Provide) 01/09/2020 Verified housing payment history - x months of current and prior mortgage history paid x per credit report.    xx/xx/xx Desk Review returned supporting value of xxxxx with a Risk Score of Moderate. A A A A A
xxxxx 6000052579 573274 01/03/2020 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged Final borrower CD dated xx/xx/xx does not reflect any sales commissions paid to the listing or selling agents.   Low LTV/CLTV/HCLTV - Low LTV of 38.776%.; Verified employment history - Borrower has been employed with xxxx for  xx years as a xx.   Override to EV2 due to Immaterial Issue. B B B B B
xxxxx 6000052579 573814 01/06/2020 Credit Insufficient Verified Funds to Close CRED 0016 1 Closed UPDATED: Missing verification of funds to close in the amount of $x.  Total funds verified $x.  Short $x (Verified funds does include the EM deposit of $x )

Missing verification of funds to close in the amount of $x.  Total funds verified $x.  Short $x (No evidence that the EM deposit of $x cleared)		 01/13/2020 Low LTV/CLTV/HCLTV - Low LTV of 38.776%.; Verified employment history - Borrower has been employed with xxxx for  xx years as a xx. Updated exception comments.  UW had included the EM Deposit in the total assets but should have set a separate exception for proof that it had cleared.  Lender provided a copy of the cancelled EM check that verified the check from xxxx  cleared xx/xx/xx.
** Finding remains as we are still short verified funds to close in the amt of $x + Reserves of $x for a total of $x		 Review added XXX A/# ending in xx which was not included in the amount of original verified funds.  Statement pg xx. A A A A A
xxxxx 6000052579 575205 01/09/2020 Credit Insufficient verified reserves CRED 0100 1 Closed Missing verification of 3 mths reserves in the amount of $x. 01/13/2020 Low LTV/CLTV/HCLTV - Low LTV of 38.776%.; Verified employment history - Borrower has been employed with xxxx for  xx years as a xx.   Review added XXX  A/# ending in x which was not included in the amount of original verified funds.  Statement pg x. A A A A A
xxxxx 6000052574 573342 01/03/2020 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged Final borrower CD dated xx/xx/xx does not reflect any sales commissions paid to the listing or selling agents.   Low LTV/CLTV/HCLTV - Low LTV of 60.112%.; Verified employment history - Borrower has been employed with xx for xx years as xx.  Coborrower has been employed with xx for xx years as xx.   Override to EV2 due to Immaterial Issue. B B B B B
xxxxx 6000052576 574091 01/07/2020 Credit Missing Employment doc (VOE) CRED 0007 1 Closed Missing VVOE within 10 calendar days prior to funding date.  VVOEs performed xx/xx/xx with funding date of xx/xx/xx. 01/09/2020 Verified employment history - Borrower has been employed with xx for xx years as xx.  CoBorrower has been employed with xx for xx years as xx.   01/09/2020 Recd VVOEs completed xx/xx/xx. A A A A A
xxxxx 6000055560 590143 02/17/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed Unable to verify that the single deposit in the amount of $xxxxx on xxxxxx to xxxxxxx ending xxxxxx in was from the xxxxxxx.  xxxxxxxxxxxxx. 02/26/2020 Established credit history - xxx years depth of credit with mid score of 784   02/26/20 Recd LOE from the borrower attesting that the single deposit in the amount of $xxxxxxx on xxxxxx to xxxxxx ending xxx in was from the xxxxxxxxx. A A A A A
xxxxx 6000055562 590165 02/17/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed Unable to verify that the deposits in the amount of $xxxxx on xxxxx and $xxxxx on xxxxx to xxxxx Acct ending xxxxx were from the borrowers wages.  Account is a joint account with borrowers spouse. 02/26/2020 Established credit history - xxxx years depth of credit with mid score of 808   02/26/20 Recd LOE from the borrower that the $xxxxx deposit was from other income not considered and that the $xxxxx was payroll for the borrower. A A A A A
xxxxx 6000055563 590155 02/17/2020 Property Seller Name on Appraisal does not agree with Title, Sales Contract, and/or HUD-1. APPR 0010 1 Closed Appraisal dated xxxxx lists current owner/seller as xxxxx Title document dated xxxx list vesting in name of xxxxx. Per file transaction is structured as purchase from xxxxxx. Appraisal lists Owner of Public Record as xxxxx, which would not be correct as of the date that appraisal was completed.  Seller listed on Contract and Closing Disclosure  is xxxxxx 03/05/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 35.15%. 70% maximum LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxxxx. Additional reserves of 2% of on additional investment properties, $xxxxxx. Total required reserves of $xxxxx Verified post closing reserves of $xxxxxx.    03/05/20 Recd copy of corrected appraisal. A A A A A
xxxxx 6000055563 590175 02/17/2020 Credit Final 1003 Application is Incomplete APP 0002 1 Closed Per Note the borrower is xxxxxx. Initial 1003 in file is in xxxxxx, however Note is not signed xxxxx. Missing initial 1003 in the name of xxxxxx.  02/28/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 35.15%. 70% maximum LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxxxx. Additional reserves of 2% of on additional investment properties, $xxxxxx. Total required reserves of $xxxxx Verified post closing reserves of $xxxxxx.    02/28/20 Recd copy of 1003 in the name of xxxx.   A A A A A
xxxxx 6000055563 590176 02/17/2020 Credit Initial 1003 Application is Incomplete APP 0004 2 Acknowledged Per Note the borrower is xxxxxx. Initial 1003 in file is in xxxxxx, however Note is not signed xxxxx. Missing initial 1003 in the name of xxxxxx.    Low LTV/CLTV/HCLTV - LTV/CLTV of 35.15%. 70% maximum LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxxxx. Additional reserves of 2% of on additional investment properties, $xxxxxx. Total required reserves of $xxxxx Verified post closing reserves of $xxxxxx.    EV2 Override to EV2 due to Immaterial Issue. Recd copy of final 1003 in the name of xxxxxxxxx.
Mitigated Risk: EV2 Override to EV2 due to Immaterial Issue. Recd copy of final 1003 in the name of xxxxxxxxx.		 B B B B B
xxxxx 6000055563 590200 02/17/2020 Property Appraisal is Incomplete APPR 0002 1 Closed Appraisal states subject is Arms Length Transaction. Per sales contract subject is Non-Arms Length Transaction.  03/02/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 35.15%. 70% maximum LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxxxx. Additional reserves of 2% of on additional investment properties, $xxxxxx. Total required reserves of $xxxxx Verified post closing reserves of $xxxxxx.    03/02/20 Recd corrected 1003 reflecting the subject is a Non-Arms Length Transaction. A A A A A
xxxxx 6000055563 590208 02/17/2020 Credit Fraud report alerts have not been addressed FRAUD 0001 1 Closed Fraud Report xxxxx score of 742. Income alerts not addressed due to no income documents provided. 02/28/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 35.15%. 70% maximum LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxxxx. Additional reserves of 2% of on additional investment properties, $xxxxxx. Total required reserves of $xxxxx Verified post closing reserves of $xxxxxx.    02/28/20 Recd copy of CPA letter with P&L attached supporting income used to qualify. A A A A A
xxxxx 6000055563 590211 02/17/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed CPA letter confirmed xx% ownership. CPA letter states a statement of income and expenses was attached to the letter, however no statement of income and expenses was provided in file.  02/28/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 35.15%. 70% maximum LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxxxx. Additional reserves of 2% of on additional investment properties, $xxxxxx. Total required reserves of $xxxxx Verified post closing reserves of $xxxxxx.    02/28/20 Recd copy of CPA letter with P&L attached supporting income used to qualify. A A A A A
xxxxx 6000055563 590662 02/19/2020 Compliance Note is Incomplete NOTE 0050 1 Closed Note is signed by xxxxx only.  Per guidelines  the Note must be executed by the nxxxxxx. Note is executed by xxxxx only. No evidence of xxxxxx in the file.  03/05/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 35.15%. 70% maximum LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxxxx. Additional reserves of 2% of on additional investment properties, $xxxxxx. Total required reserves of $xxxxx Verified post closing reserves of $xxxxxx.    03/05/20 Recd xxxxx. A A A A A
xxxxx 6000055563 590668 02/19/2020 Credit Purchase Contract is Deficient CRED 0085 1 Closed Purchase contract is not dated. Date sections were left blank.  02/26/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 35.15%. 70% maximum LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxxxx. Additional reserves of 2% of on additional investment properties, $xxxxxx. Total required reserves of $xxxxx Verified post closing reserves of $xxxxxx.    02/26/20 Recd copy of dated purchase agreement. A A A A A
xxxxx 6000055563 590681 02/19/2020 Credit Missing Verification of Liability (Contingent or Otherwise) CRED 0097 1 Closed Final 1003 lists mortgage in the amount of $xxx,xxx (xxxxx) which is not verified in the file. Per 1003 lender excluded additional mortgage (xxxxx). Missing documentation confirming PITI of $xxxx.xx/mo and confirming payoff of mortgage excluded from DTI calculations.  02/26/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 35.15%. 70% maximum LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxxxx. Additional reserves of 2% of on additional investment properties, $xxxxxx. Total required reserves of $xxxxx Verified post closing reserves of $xxxxxx.    02/26/20 Recd copy of CD for xxxxx verifying mortgage of $xxx,xxx and PITI of $xxxx.xx. A A A A A
xxxxx 6000055567 590683 02/19/2020 Credit Borrowers from Data Tape do not match Borrowers on the Note NOTE 0057 1 Closed Tape lists borrower as xxxxx. Note lists borrower as xxxxxx.  03/05/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 37.037%. Maximum of 70% LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxx. Additional reserves of 2% of on additional investment properties, $xxxxx. Total required reserves of xxxxx. Verified post closing reserves of $xxxxxx.   03/05/20 Recd xxxxx. A A A A A
xxxxx 6000055567 590686 02/19/2020 Credit Final 1003 Application is Incomplete APP 0002 1 Closed Per Note the borrower is xxxx. Initial 1003 in file is in the xxxx, however Note is not signed xxxx. Missing initial 1003 in the name xxxxxx. 02/28/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 37.037%. Maximum of 70% LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxx. Additional reserves of 2% of on additional investment properties, $xxxxx. Total required reserves of xxxxx. Verified post closing reserves of $xxxxxx.   02/28/20 Recd copy of final 1003 for xxxx. A A A A A
xxxxx 6000055567 590687 02/19/2020 Credit Initial 1003 Application is Incomplete APP 0004 2 Acknowledged Per Note the borrower is xxxx. Initial 1003 in file is in the xxxx, however Note is not signed xxxx. Missing initial 1003 in the name xxxxxx.   Low LTV/CLTV/HCLTV - LTV/CLTV of 37.037%. Maximum of 70% LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxx. Additional reserves of 2% of on additional investment properties, $xxxxx. Total required reserves of xxxxx. Verified post closing reserves of $xxxxxx.   Override to EV2 due to Immaterial Issue.- Copy of final 1003 for xxxxxx provided.
Mitigated Risk: Override to EV2 due to Immaterial Issue.- Copy of final 1003 for xxxxxx provided.		 B B B B B
xxxxx 6000055567 590692 02/19/2020 Compliance Note is Incomplete NOTE 0050 1 Closed Note is signed by xxxxx only. Per guidelines the Note must be executed by xxxxxxxx. Note is executed by xxxx only. No evidence of xxxxxxx in the file. 03/05/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 37.037%. Maximum of 70% LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxx. Additional reserves of 2% of on additional investment properties, $xxxxx. Total required reserves of xxxxx. Verified post closing reserves of $xxxxxx.   03/05/20 Recd xxxxxx. A A A A A
xxxxx 6000055567 590705 02/19/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed CPA letter confirmed xxxx% ownership. CPA letter states a statement of income and expenses was attached to the letter, however no statement of income and expenses was provided in file.  02/28/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 37.037%. Maximum of 70% LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxx. Additional reserves of 2% of on additional investment properties, $xxxxx. Total required reserves of xxxxx. Verified post closing reserves of $xxxxxx.   02/28/20 Recd copy of CPA letter with P&L attached supporting income used to qualify. A A A A A
xxxxx 6000055567 590706 02/19/2020 Credit Fraud report alerts have not been addressed FRAUD 0001 1 Closed Fraud Report, xxxx score of 631. Income alerts not addressed due to no income documents provided. 02/28/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 37.037%. Maximum of 70% LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxx. Additional reserves of 2% of on additional investment properties, $xxxxx. Total required reserves of xxxxx. Verified post closing reserves of $xxxxxx.   02/28/20 Recd copy of CPA letter with P&L attached supporting income used to qualify. A A A A A
xxxxx 6000055567 590707 02/19/2020 Credit Missing Verification of Liability (Contingent or Otherwise) CRED 0097 1 Closed Final 1003 lists mortgage in the amount of $xxxx (xxxx) which is not verified in the file. Missing documentation confirming PITI of $xxx/mo. 02/26/2020 Low LTV/CLTV/HCLTV - LTV/CLTV of 37.037%. Maximum of 70% LTV allowed. ; Verified reserves - xxxx months PITI reserves required for subject investment property, $xxxxx. Additional reserves of 2% of on additional investment properties, $xxxxx. Total required reserves of xxxxx. Verified post closing reserves of $xxxxxx.   02/26/20 Recd copy of the final CD for xxxxverifying loan amount of $xxxx and PITI of xxxxx. A A A A A
xxxxx 6000055568 590291 02/18/2020 Compliance Mortgage/Deed of Trust is Incomplete DEED 0049 1 Closed CEMA document is not correctly notarized. Missing date of Notary Acknowledgement for signature of Lender.  02/28/2020 Verified reserves - xxx months PITI on subject (investment property), xxxxx. x% of UPB required on other investment properties, $xxxxxx. Total required reserves of $xxxxxx. Verified post closing reserves of $xxxxxx. ; Verified credit history - 784 qualifying credit score. 700 minimum score required. No derogatory credit in prior xx months. Credit file dates back to xxxxx.    02/28/20 Recd copy of correctly notarized CEMA document. A A A A A
xxxxx 6000055568 590398 02/18/2020 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 1 Closed Final 1003 states primary residence (xxxxxxx).  REO schedule reflects that lender qualified borrower with $xxxx of rental income from primary residence and leases in file total $xxxx.

Copy of Lease in file for borrowers xxxxx starts xxxxxxx. No explanation provided for lease on borrowers primary residence. Lease is not currently active and was not included in qualifying the borrower.  Review used rent from xxxx and xxxxx totaling $xxxxx/mo. 		 02/28/2020 Verified reserves - xxx months PITI on subject (investment property), xxxxx. x% of UPB required on other investment properties, $xxxxxx. Total required reserves of $xxxxxx. Verified post closing reserves of $xxxxxx. ; Verified credit history - 784 qualifying credit score. 700 minimum score required. No derogatory credit in prior xx months. Credit file dates back to xxxxx.  02/26/20 Borrower has a simultaneous transaction for the purchase of a new primary residence xxxxxx that was not disclosed on the 1003 or underwriters 1008.  Lender should have acknowledged that the borrower had multiple transactions taking place the same day.  Per the LOE and documents for xxxxxx the borrower intends to make xxxxxx their new Primary residence.  LOE on intent to move.  Lender to update the comments on the 1008 to provide a clear audit trail and include the borrower LOE on intent to move.  Lender should also update the borrower mailing address verification for the non owner occupied property.  Upon receipt of updated 1008 and LOE on intent to move review can update the rental income to include the full rents from the departing residence.  Borrower has a simultaneous transaction for the purchase of a new primary residence xxxxxxxxx.  Lender provided updated 1008 noting simultaneous transaction with a LOE on intent to move from the borrower.  Review updated to include full rental income from the departing residence. A A A A A
xxxxx 6000055568 590403 02/18/2020 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Per final 1003  there is a mortgage for $xxxxx (xxxxx) that is not listed on credit report. Missing documentation of PITI for the property on REO schedule matched to this mortgage (xxxxxxxxxx).  If this property was recently acquired, the borrowers qualifying assets will need to be reduced by downpayment on new purchase.  02/26/2020 Verified reserves - xxx months PITI on subject (investment property), xxxxx. x% of UPB required on other investment properties, $xxxxxx. Total required reserves of $xxxxxx. Verified post closing reserves of $xxxxxx. ; Verified credit history - 784 qualifying credit score. 700 minimum score required. No derogatory credit in prior xx months. Credit file dates back to xxxxx.    02/26/20 Recd copy of CD for xxxxx Verifying Mtg of $xxxx and PITI of $xxxxx. Transaction closed simultaneously with the subject.  A A A A A
xxxxx 6000055568 590415 02/18/2020 Credit Back-end Ratio exception (DTI) CRED 0004 1 Closed Updated 02/26/20 Review DTI of 48.44% exceeds the max allowed program DTI of 47% for AltDoc Program.-- Review updated the rental income for xxxxxxxx to $xxxxx which was based on xxx% of the rental income from xxx per the leases in file.  No explanation was provided for why the lender included rental income from the borrowers primary residence xxxxxxxx.  

Maximum DTI of 47% allowed per guidelines. Review DTI of 80.19%. DTI increase due to discrepancies on the following properties:
1) xxxxxxx- Lender used income of $xxxx/mo, review calculated loss of $xxxxxx. Lender used rent of $xxxxxx/mo, review used only active leases of $xxxx/mo.

CLEARED #2) xxxxxx- Lender used income of $xxxx, review calculated loss of $xxxxxxx. Undocumented mortgage payment of $xxxxxxx/mo was not included. 		 02/28/2020 Verified reserves - xxx months PITI on subject (investment property), xxxxx. x% of UPB required on other investment properties, $xxxxxx. Total required reserves of $xxxxxx. Verified post closing reserves of $xxxxxx. ; Verified credit history - 784 qualifying credit score. 700 minimum score required. No derogatory credit in prior xx months. Credit file dates back to xxxxx.  02/26/20 1) Review updated the rental income for xxxxxx to $xxxxx which was based on 75% of the rental income from fxxxxxx per the leases in file.  No explanation was provided for why the lender included rental income from the borrowers primary residence.  

2) Recd copy of CD for xxxxxxx Verifying Mtg of $xxxxxxx and PITI of $xxxxxx. Total net loss using updated PITI ($xxxxxxxx).		 Borrower has a simultaneous transaction for the purchase of a new primary residence xxxxxxx.  Lender provided updated 1008 noting simultaneous transaction with a LOE on intent to move from the borrower.  Review updated to include full rental income from the departing residence.  Revised DTI 44.26% A A A A A
xxxxx 6000055569 589608 02/14/2020 Credit Missing Underwriter Loan Approval APRV 0001 1 Closed Missing Lender Loan Approval from file. 02/26/2020 Verified employment history - Borrower has stable, long-term xx-year's employment history with same employer.; Established credit history - Credit history established xxxx with no delinquencies, collections, or public records reflected    on credit report.; Low DTI - 37.01 DTI.; Low LTV/CLTV/HCLTV - 70 LTV/CLTV.   02/26/20 Recd copy of lenders approval. A A A A A
xxxxx 6000055570 589618 02/15/2020 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged Final CD does not reflects any sales commissions paid to the listing or selling agents.   Established credit history - Credit history established xxxxx with no delinquencies, collections, or public records reflected    on credit report.; Verified employment history - Borrower has stable, long-term xx-year's employment history with same employer; Verified reserves - xxxx-months reserves.; Low LTV/CLTV/HCLTV - 65 LTV/CLTV.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Client: Override to EV2 due to Immaterial Issue. B B B B B
xxxxx 6000055574 590591 02/18/2020 Credit Fraud report alerts have not been addressed FRAUD 0001 1 Closed High fraud report alerts have not been addressed. 02/26/2020 Verified reserves - File contains proof of xxxx months of verified reserves.; Low LTV/CLTV/HCLTV - Low LTV of 54.28%.   Documentation in loan file validates High Fraud Alerts. Finding cleared. A A A A A
xxxxx 6000055576 588914 02/13/2020 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged Final borrower CD  dated xxxxx does not reflect any sales commissions paid to the listing or selling agents.   Verified credit history - 784 qualifying credit score. 700 minimum score required. No derogatory credit in the prior xxx months. Credit file dates back to xxxx.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000055576 590553 02/18/2020 Credit Insufficient verified reserves CRED 0100 1 Closed Guidelines require xxx months PITI for subject primary residence. Verified post closing reserves of $xxxxx, xxxxx months of subject PITI. Short reserves in the amount of $xxxx. 02/26/2020 Verified credit history - 784 qualifying credit score. 700 minimum score required. No derogatory credit in the prior xxx months. Credit file dates back to xxxx.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   02/26/20 Recd copy of the final CD for the refinance of xxxxx verifying the p/o of xxxxx with net proceeds to the borrower of $xxxxxxx A A A A A
xxxxx 6000055576 590570 02/18/2020 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Final 1003 reflects a $xxxxx mortgage (xxxxx) not reporting on credit report. Missing verification of this mortgage and verification of full PITI on property (xxxxx) linked to this mortgage. Lender qualified borrower with PITI of $xxxxxx. Review used this PITI pending review of documentation.  02/26/2020 Verified credit history - 784 qualifying credit score. 700 minimum score required. No derogatory credit in the prior xxx months. Credit file dates back to xxxx.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   02/26/20 Recd copy of the final CD for xxxx with verifies mtg of $xxxxx and PITIA of $xxxxxx. A A A A A
xxxxx 6000055576 590593 02/18/2020 Credit Insufficient verified liquid reserves CRED 0099 1 Closed Guidelines require xxx months PITI for subject primary residence. Verified post closing reserves of $xxxxx, xxxxx months of subject PITI. Short reserves in the amount of $xxxxx
Final 1003 states borrower is receiving proceeds of $xxxxxx from cash out refinance. The source of these cash out proceeds were not identified or verified in the file. 		 02/26/2020 Verified credit history - 784 qualifying credit score. 700 minimum score required. No derogatory credit in the prior xxx months. Credit file dates back to xxxx.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   02/26/20 Recd copy of the final CD for the refinance of xxxxxx verifying the p/o of xxxxxx with net proceeds to the borrower of $xxxxxx A A A A A
xxxxx 6000055576 590599 02/18/2020 Credit Undisclosed or Excluded Debt CRED 0086 1 Closed Per final 1003  a mortgage in the amount of $xxxxx was excluded from DTI calculations. Missing documentation supporting exclusion of this debt. If debt was replaced, provide verification of terms of new debt.  02/26/2020 Verified credit history - 784 qualifying credit score. 700 minimum score required. No derogatory credit in the prior xxx months. Credit file dates back to xxxx.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   02/26/20 Recd copy of the final CD for the refinance of xxxxx verifing the p/o of xxxx.  New Loan Amount $xxxxx PITIA $xxxxx  A A A A A
xxxxx 6000055577 590425 02/18/2020 Credit Missing Power of Attorney POA 0002 1 Closed Missing Power of Attorney to xxxxxx from xxxxxxxxx. 02/26/2020 Low LTV/CLTV/HCLTV - Low LTV of 65%.; Low DTI - Low DTI of 2.85%.   02/26/19 Recd copy of executed POA. A A A A A
xxxxx 6000055577 590470 02/18/2020 Credit Gift Funds not Properly Verified CRED 0018 2 Acknowledged Gift letter states gift of $xxxx and it appears it is suppose to be $xxxx which is the amount of the EMD.   Low LTV/CLTV/HCLTV - Low LTV of 65%.; Low DTI - Low DTI of 2.85%.   Override to EV2 due to Immaterial Issue.  Gift Amount on letter is a typo.  Amount verified with copy of cancelled check which matches the final CD.
Mitigated Risk: Override to EV2 due to Immaterial Issue.  Gift Amount on letter is a typo.  Amount verified with copy of cancelled check which matches the final CD.		 B B B B B
xxxxx 6000055578 590710 02/19/2020 Compliance Missing evidence of the Seller HUD1 HUD 0027 1 Closed Missing Seller Closing Disclosure.  02/26/2020 Verified reserves - xx months PITI reserves required. $xxxxxxx, xxxx months verified. Sufficient reserves to cover 2% of UPD on other REO. ; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Disclosure located in file. A A A A A
xxxxx 6000055578 590712 02/19/2020 Credit Fraud report alerts have not been addressed FRAUD 0001 1 Closed Fraud Report xxxxxxx Fraud score of 967. Income alerts not addressed.  02/26/2020 Verified reserves - xx months PITI reserves required. $xxxxxxx, xxxx months verified. Sufficient reserves to cover 2% of UPD on other REO. ; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Documentation in loan file validates High Fraud Alerts. Finding cleared. A A A A A
xxxxx 6000055578 590715 02/19/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed Per lender guidelines a xxxxxxxx is required. No evidence of required xxxxxxxx in the file.  03/02/2020 Verified reserves - xx months PITI reserves required. $xxxxxxx, xxxx months verified. Sufficient reserves to cover 2% of UPD on other REO. ; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue. 02/26/20 Recd CPA letter verifying xxxxxxxxxx history.
**Finding remains Missing xxxxx as required by the guidelines. xxxx generally includes details related to the xxxx  and xxxx		 03/02/20 Recd xxxxxxxxxxx. A A A A A
xxxxx 6000055578 590717 02/19/2020 Credit Missing proof of PITI payment on non-subject property CRED 0096 1 Closed Mortgage statements do not list the name of the property mortgaged. Unable to match mortgage debt to REO listed on 1003. Review used lender amounts pending review of documentation. (Note No Mortgagee is listed on the HOI Deck Pages.) 03/02/2020 Verified reserves - xx months PITI reserves required. $xxxxxxx, xxxx months verified. Sufficient reserves to cover 2% of UPD on other REO. ; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   03/02/20 Recd copies of MTg statements with documentation that ties the properties to the corresponding mtg statements. A A A A A
xxxxx 6000055578 590718 02/19/2020 Credit Missing Loan Approval Date APRV 0003 1 Closed Missing Lender Loan Approval with loan program, approval date and approving underwriter. File contains only an unsigned 1008.  03/04/2020 Verified reserves - xx months PITI reserves required. $xxxxxxx, xxxx months verified. Sufficient reserves to cover 2% of UPD on other REO. ; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   03/03/20 Recd copy of lender approval and signed 1008. A A A A A
xxxxx 6000056424 596698 03/03/2020 Property Missing Appraiser License APPR 0043 1 Closed Missing copy of Appraiser license. 03/16/2020 Verified reserves - File contains proof of xx months of verified reserves.; Verified employment history - Borrower has been employed with current employer as xxx for xx years while also being employed with 2nd employer as xx for the past x years.   03/13/20 Recd copy of appraisal with a copy of the appraisers license included. A A A A A
xxxxx 6000056426 598198 03/06/2020 Credit Insufficient Verified Funds to Close CRED 0016 1 Closed Missing evidence that the EM cleared prior to xx/xx/xx.  Copies of cancelled check provided do not reflect the date that the funds cleared by the borrowers account. 04/03/2020     xx/xx/xx Recd documentation to verify that the EM check in the amount of $x cleared prior to the statement dated xx/xx/xx. A A A A A
xxxxx 6000056426 598215 03/06/2020 Credit Initial 1003 Application is Incomplete APP 0004 1 Closed Missing initial 1003 signed and dated by the LO.  Review used initial app date of xx/xx/xx. 03/16/2020     Recd copy of initial app Esigned by the LO xxxxx. A A A A A
xxxxx 6000056432 597046 03/04/2020 Compliance Missing Affiliated Business Disclosure COMP 0010 2 Acknowledged Missing Affiliated Business Disclosure   Established Landlord history - Borrower is experienced in xxx, xx and xxx.   Override to EV2 due to Immaterial Issue, lender does not have any affiliates. B B B B B
xxxxx 6000056433 597546 03/05/2020 Credit Sales Contract is not executed by all Parties CRED 0106 1 Closed Borrower is not listed on the sales contract, and has not signed the sales contract.  Amendment to the contract adding the borrower to the contract is not executed (pg xxx). 03/16/2020 Established credit history- Blemish free credit history since xxxxx   03/13/20 Recd copy of executed amendment to the purchase agreement adding the borrower. A A A A A
xxxxx 6000056433 597580 03/05/2020 Credit Guideline Exception(s) GIDE 0001 1 Closed Borrowers verification of employment was conducted in writing and verbally with borrowers spouse.  Per xxx the xxx is xxxxxx. Non-arms length transaction.  Appears that the borrower or NPS is the xxx.  SOS search does not confirm the xxxx.  Missing Articles of Origination to confirm ownership. 03/16/2020 Established credit history- Blemish free credit history since xxxxx   03/13/20 Recd copy of Minutes of Organization confirming the borrower has no ownership in xxxx A A A A A
xxxxx 6000056885 604517 03/23/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed Borrower(s) xxx checking account is a joint account.  Unable to verify deposit on xx/xx in the amount of $x was from the borrowers wages. 04/08/2020 Verified reserves - xxx-months reserves.; Verified housing payment history - xx months xx mortgage history evidenced on credit report.; Established credit history - Credit history established xx/xx with no delinquencies, collections, or public records reflected on credit report.   04/08/20 Recd attestation from the borrower that the deposit on xx/xx/xx was from xxx. A A A A A
xxxxx 6000056887 603974 03/21/2020 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 1 Closed Initial and Final 1003's evidence Limited Cash-Out (xxx); however, xx/xx/xx Final CD evidence $xx Cash-Out (xx). 04/24/2020 Verified employment history - Borrower has stable, long-term xx year's employment history with same employer.; Verified housing payment history - xx months xx mortgage history evidenced on credit report.; Established credit history - Credit history established xx/xx with no delinquencies, collections, or public records reflected on credit report.; Verified reserves - xx -months reserves.   04/24/20 Recd corrected final 1003 reflecting loan  as cash out. A A A A A
xxxxx 6000056887 604522 03/23/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed Borrower(s) xx statement is a joint account.  Unable to verify that the deposits on xx/xx, xx/xx, and xx/xx were from the borrowers wages. 04/08/2020 Verified employment history - Borrower has stable, long-term xx year's employment history with same employer.; Verified housing payment history - xx months xx mortgage history evidenced on credit report.; Established credit history - Credit history established xx/xx with no delinquencies, collections, or public records reflected on credit report.; Verified reserves - xx -months reserves.   04/08/20 Recd attestation from the borrower to verify that the deposit on xx and xx were from their wages. On
xx the deposit of $xx was a gift from xx and the transaction was omitted.		 A A A A A
xxxxx 6000056888 604527 03/23/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed All bank statements provided are joint statements.  Unable to verify any deposits were from from the borrowers income.  04/08/2020 Verified reserves - xx months reserves.; Verified housing payment history - xx months xx mortgage history evidenced on credit report.; Established credit history - Credit history established xx/xx with no delinquencies, collections, or public records reflected on credit report.   04/08/20 Recd attestation from xxxx that states that the deposit on xx/xx in the amt of $xx xxx salary deposit. A A A A A
xxxxx 6000056889 604551 03/23/2020 Compliance Note is Incomplete NOTE 0050 1 Closed Missing personal guarantee.  Managing member xxxx who is xx% owner executed the Note as an Authorized Member. 04/24/2020     04/23/20 Recd personal guarantee from both members of the LLC. A A A A A
xxxxx 6000056889 604554 03/23/2020 Credit Missing Credit Package CRED 0038 1 Closed Missing credit package (Credit Report, Income Documents, and Asset Documents) for the owner of xxxx, xxxx.  All credit documents provided are for the xxxx, xxxx. 04/16/2020     04/16/20 Recd copy of AOO confirming that xxxx has xx% ownership in the LLC. A A A A A
xxxxx 6000056889 604558 03/23/2020 Credit Asset Documentation is Insufficient CRED 0083 1 Closed 1) Missing CPA letter to confirm withdrawal of funds from the xxxx account will not have a negative impact on the business.

2)Funds to close are "Gift Funds" from the owner of xxx. Company owner cannot gift them selves funds to close.  Missing copy statement for xxx  xxx  xxx to verify funds to close.  Copy of "Gift" Check to the closing atty in file pg xxx.		 04/16/2020     04/16/20 Recd copy of AOO confirming that  xxx has xx% ownership in the LLC. A A A A A
xxxxx 6000056889 604563 03/23/2020 Credit Missing Credit Report CR 0001 1 Closed Missing credit package for the owner of xxxx.  All credit documents provided are for the xxx, xxx.   04/24/2020     04/16/20 Recd copy of AOO confirming that xxxx has xx% ownership in the LLC.  A A A A A
xxxxx 6000056890 603116 03/19/2020 Credit Missing Underwriter Loan Approval APRV 0001 1 Closed Missing evidence of Loan Approval.  1008 provided in loan file. 04/08/2020 Verified reserves - xx months reserves.; Established credit history - Credit history established xx/xx with no delinquencies, collections, or public records reflected on credit report.   04/08/20 Recd copy of lender loan approval. A A A A A
xxxxx 6000056890 603234 03/19/2020 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 1 Closed Final Application has the borrower listed as unmarried, however according to the gift funds he is married to xxxx who is on title. 04/24/2020 Verified reserves - xx months reserves.; Established credit history - Credit history established xx/xx with no delinquencies, collections, or public records reflected on credit report.   04/24/20 Recd LOE from the borrower and gift donor confirming that xx are not married. Also recd a corrected gift letter. A A A A A
xxxxx 6000056890 603652 03/20/2020 Compliance LE or CD Contact Information Section is Deficient TRID 0141 2 Acknowledged Missing ST License ID Number as well as Contact License Number for Settlement Agent xxx.   Verified reserves - xx months reserves.; Established credit history - Credit history established xx/xx with no delinquencies, collections, or public records reflected on credit report.   Override to EV2 due to Immaterial Issue. B B B B B
xxxxx 6000056892 603654 03/20/2020 Compliance LE or CD Contact Information Section is Deficient TRID 0141 2 Acknowledged Missing ST License ID Number as well as Contact License Number for Settlement Agent xx.   Verified employment history - Borrower has stable, long-term xx year's employment history with same employer.; Established credit history - Credit history established xx/xx with no delinquencies, collections, or public records reflected on credit report.; Verified reserves - xx months reserves.   Override to EV2 due to Immaterial Issue. B B B B B
xxxxx 6000056894 603523 03/20/2020 Credit Missing Underwriter Loan Approval APRV 0001 1 Closed Missing DU loan findings.  Tape provided reflects the loan was AUS Approved.  Lender Approval and the 1008 reflect the loan is Agency Jumbo Fixed / DU Approve Eligible.  Credit review pending.  Additional conditions may apply based on findings.  (Note the only income documents provided is a CPA letter and xx 1120S) 04/08/2020 Verified employment history - Borrower has been self employed and owner of xxxx for xx years.   04/08/2020 Recd copy of DU findings. A A A A A
xxxxx 6000056894 603529 03/20/2020 Credit Discrepancy between 1003 and documentation stated and/or verified in file APP 0006 1 Closed Final 1003 application reflects borrower is unmarried, yet vesting on DOT states xx is a married xx. 04/24/2020 Verified employment history - Borrower has been self employed and owner of xxxx for xx years.   04/24/20 Recd corrected 1003 reflecting that the borrower is not married. A A A A A
xxxxx 6000056894 609845 04/08/2020 Credit Income Documentation is Insufficient CRED 0082 1 Closed Missing a copy of the borrowers xxxx 1040, xxxx W2, and xxxx K1 for xxx. 04/15/2020 Verified employment history - Borrower has been self employed and owner of xxxx for xx years. 04/09/10 Recd copies of the xx W2, xx 1099, 1040, and 1120 for xxxxxx.  xx 1040 does not reflect any Sch E income.  xx Business return is for fiscal year starting  xx/xx/xx-xx/xx/xx.  Per DU #14 Self-Employment income may be supported by personal and business returns covering the most recent one-year period (including all schedules), provided the tax returns reflect at least 12 mths of self-employment income.  Otherwise, lenders must obtain personal and business returns covering the most recent two-year period.   04/09/20 Recd copies of the xxxx 1040s, xx 1120, W2, and 1099. A A A A A
xxxxx 6000056894 611716 04/15/2020 Credit Back-end Ratio exception (DTI) CRED 0004 1 Closed Income documentation from the borrowers xxxx 1040 and xxxx 1120 is not sufficient to support the $xx used to qualify.  Corporate return is for xx fiscal year starting xx/xx/xx-xx/xx/xx.;

No income from the corporation was claimed by the borrower on the 1040 except the W2 and 1099-MISC income Which was reported on the Sch C. 12 mth average of W2 and Sch C income is only $xx per mth. Reduced income results in DTI of 68.94% 		 04/21/2020 Verified employment history - Borrower has been self employed and owner of xxxx for xx years. 04/17/20 Recd copy of the borrowers xx W2 which reflects increased earnings of $xx.

04/15/20 Recd from lender: Please see rebuttal below: (For xxxx)

The 1120 business tax return always has different dates between the fiscal year and calendar year. Even 2 year 1120 tax returns still have the same issues, so Here are my understanding for the 1120 business tax return adjustment and cash flow analysis:
1040: xx/xx/xx-xx/xx/xx: W2 income is $xx.
1120: xx/xx/xx: Compensation to officers is $xx + $xx (1120 income during that period).
I use the worse xx w2 income + 1120 income (xx + xx) as qualified income, so from this worksheet, you can see the borrower reported more income in the fiscal year xxxx (xxx + xxxx).
This calculation method is meet the guile line requirement.


** Per FNMA When funds from a corporation that operates on a fiscal year that is different from the calendar year are used in qualifying a self-employed borrower, the lender must make time adjustments to relate the corporate income to the borrowers individual tax return, which is on a calendar year basis. ** It was also Note that the $xxx in W2 wages does not match the Compensation to officers or Salaries and wages reported on the xxxx 1120.  No explanation was provided.		 04/17/20 Recd copy of the borrowers xxxx W2 which reflects increased earnings of $xx.  A A A A A
xxxxx 6000057466 603855 03/20/2020 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged Final CD does not reflect any sales commissions paid to the listing or selling agents.  Seller Cd does reflect the commissions paid.    Low LTV/CLTV/HCLTV - Low LTV of 60%.; Verified reserves - File contains proof of xx months of verified reserves.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000057466 603883 03/20/2020 Compliance LE or CD Contact Information Section is Deficient TRID 0141 2 Acknowledged Missing xx License ID and Contact xx License ID for Settlement Agent xxxx   Low LTV/CLTV/HCLTV - Low LTV of 60%.; Verified reserves - File contains proof of xx months of verified reserves.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000057466 606394 03/28/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing CDA (Summit to provide). 04/07/2020 Low LTV/CLTV/HCLTV - Low LTV of 60%.; Verified reserves - File contains proof of xx months of verified reserves.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   04/07/20 Recd CDA supporting value of $xxxx A A A A A
xxxxx 6000057467 603935 03/20/2020 Compliance LE or CD Contact Information Section is Deficient TRID 0141 2 Acknowledged Missing xx License ID and Contact xx License ID for Settlement Agent   Low LTV/CLTV/HCLTV - Low LTV of 60%.; Verified employment history - Borrower has been employed with current employer as xxxx for xxxx years.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000057467 606347 03/27/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing CDA. 04/07/2020 Low LTV/CLTV/HCLTV - Low LTV of 60%.; Verified employment history - Borrower has been employed with current employer as xxxx for xxxx years.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   04/07/20 Recd CDA supporting value. A A A A A
xxxxx 6000057468 603962 03/21/2020 Compliance No Real Estate Commission(s) disclosed on final Closing Disclosure for Purchase transaction (12 CFR 1026.38(g)(4)) TRID 0196 2 Acknowledged Final CD does not reflect any sales commissions paid to the listing or selling agents. Seller Cd does reflect the commissions paid.     Low LTV/CLTV/HCLTV - Low LTV of 65%.; Verified employment history - Borrower has been employed with current employer as xxxx for xxxx years.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000057468 603967 03/21/2020 Compliance Homeownership Counseling Disclosure was not provided within 3 business days of application RESPA 0031 1 Closed Homeownership Counseling Disclosure provided in file is not dated. Missing attestation from lender verifying the date the borrower was provided the disclosure. 04/07/2020 Low LTV/CLTV/HCLTV - Low LTV of 65%.; Verified employment history - Borrower has been employed with current employer as xxxx for xxxx years.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   04/07/20 Recd Acknowledgment of Homeownership Counseling Disclosure dated xxxx A A A A A
xxxxx 6000057468 603996 03/21/2020 Compliance LE or CD Contact Information Section is Deficient TRID 0141 2 Acknowledged Missing xx License ID and Contact xx License ID for Settlement Agent   Low LTV/CLTV/HCLTV - Low LTV of 65%.; Verified employment history - Borrower has been employed with current employer as xxxx for xxxx years.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000057468 606392 03/28/2020 Property Missing Third Party Appraisal Review APPR 0046 1 Closed Missing CDA, Summit to provide.  FNMA CURS xxxx 04/07/2020 Low LTV/CLTV/HCLTV - Low LTV of 65%.; Verified employment history - Borrower has been employed with current employer as xxxx for xxxx years.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   04/07/20 Recd copy of CDA supporting value of $xxxx A A A A A
xxxxx 6000057470 603997 03/21/2020 Compliance LE or CD Contact Information Section is Deficient TRID 0141 2 Acknowledged Missing xx License ID and Contact xx License ID for Settlement Agent   Low LTV/CLTV/HCLTV - Low LTV of 38.18%.; Verified employment history - Borrower has been employed with current employer as xxxx for xxxx years.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue.   Override to EV2 due to Immaterial Issue.
Mitigated Risk: Override to EV2 due to Immaterial Issue.		 B B B B B
xxxxx 6000057470 604403 03/23/2020 Credit Fraud report alerts have not been addressed FRAUD 0001 1 Closed Missing Updated Fraud Report Report.  Report in file is dated xxxx, loan closed xxxx. 04/08/2020 Low LTV/CLTV/HCLTV - Low LTV of 38.18%.; Verified employment history - Borrower has been employed with current employer as xxxx for xxxx years.; No Apparent Right to Statutory Damages - Override to EV2 due to Immaterial Issue. 04/07/20 Recd duplicate copy of report dated xxxx.

**Finding remains report provided is stale dated xxxx, loan closed xxxx (xxxx days xxxx.  Missing updated fraud report dated w/in 120 days of closing.		 04/08/20 Recd Fraud Report dated xxxx. A A A A A
xxxxx 6000057473 603886 03/20/2020 Credit Underwriting Loan Approval is Deficient APRV 0010 1 Closed Missing AUS approval xxxx. Per the loan approval /1008 loan is FNMA High Balance DU Approve Eligible. 04/07/2020 Low LTV/CLTV/HCLTV - Low LTV of 45.56%.; Verified reserves - File contains proof of xxxx months of verified reserves.   04/07/20 Recd copy of DU findings. A A A A A
xxxxx 6000057473 603891 03/20/2020 Credit Tax Returns/Transcripts are Insufficient CRED 0087 1 Closed Missing 1040 tax returns to validate rental income on REO property.  No lease in file.  Lender calculated from 1040 per REO Income Wks. Final DTI review pending receipt of AUS and tax returns. 04/07/2020 Low LTV/CLTV/HCLTV - Low LTV of 45.56%.; Verified reserves - File contains proof of xxxx months of verified reserves.   04/07/20 Recd copy of the xxxx 1040. A A A A A
xxxxx 6000057473 603894 03/20/2020 Credit Back-end Ratio exception (DTI) CRED 0004 1 Closed Tape DTI 26.89%; UW 26.89 per lender approval; Review 33.49%.  Unable to validate net rental income on REO properties.  Missing 1040s and all leases. 04/07/2020 Low LTV/CLTV/HCLTV - Low LTV of 45.56%.; Verified reserves - File contains proof of xxxx months of verified reserves.   04/07/20 Recd copies of the xxxx 1040.  Review calculated DTI xxxx% is with in the allowable 3% tolerance per FNMA. A A A A A