EX-99.2 16 trk2024rrtl2_ex992b.htm EXECUTIVE SUMMARY - THIRD PARTY DUE DILIGENCE REVIEW, DATED AUGUST 26, 2024
                                                                                             
                                                                                             
          Calculations               Guidelines       Final Grade   Initial Grade      
Property Code Address City State Zip As is Value Mos Season Rehab Level Feasibility Required Experience Bucket Client Loan Type Cash-out Loan Type Loan Type Delta Bucket LTAIV (as is) LTARV (As Repaired) LTC Debt Yield Debt Value Total Costs Adjustment % High Value Value Score Doc Exceptions Data Exceptions Guideline Fails   Loan Amount FICO LTAIV LTC LTARV Loan Term Debt Yield Cash Out Limit Declining Market Trend   Document and Guideline Guideline Grade Only Valuation Grade   Document and Guideline Guideline Grade Only Valuation Grade   Exception comments Resolution
Redacted Redacted Redacted FL Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  0.00% 64.48% 0.00% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted   Missing Hazard and Flood Insurance Documentation Hazard and Flood Insurance docuemnts were uploaded and reviewed
Redacted Redacted Redacted FL Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  65.12% 64.54% 36.54% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted FL Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  0.00% 65.33% 0.00% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted WA Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  59.77% 64.99% 51.36% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted   Missing hazard insurance document Hazard document was uploaded and reviewed
Redacted Redacted Redacted FL Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  81.44% 74.00% 69.34% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted FL Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  75.66% 66.32% 54.89% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted SC Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  13.33% 55.28% 3.05% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted FL Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  60.00% 64.42% 4.82% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted FL Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  60.00% 64.87% 4.82% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted AL Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  85.00% 66.25% 31.26% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted TN Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  33.44% 75.00% 15.26% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted TN Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  30.22% 74.30% 14.96% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted TN Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  33.33% 73.99% 13.64% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted FL Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  78.53% 75.00% 73.33% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted FL Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  79.14% 75.00% 73.39% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted      
Redacted Redacted Redacted IL Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  68.57% 61.54% 68.57% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted   Missing Track Record, LTAIV, LTC and LTARV guidelines failed based on not having the track record Track record was uploaded and cleared all exceptions
Redacted Redacted Redacted SC Redacted  Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted   Redacted  76.50% 64.67% 65.57% Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted Redacted   PASS PASS PASS PASS PASS PASS PASS PASS PASS   A A A   Redacted Redacted Redacted