AMC Loan ID

Customer Loan ID

Seller Loan ID

Investor Loan Number

Loan Exception ID

Exception ID

Exception Date

Exception Type

Exception Category

Exception Subcategory

15E Category

Exception

Exception Detail

Exception Information

Compensating Factors

Compensating Factor Information

Applying Party

Follow-up Comments

Cleared Date

Cured Date

Waived Date

Exception Level Grade

Note Date

Property State

Occupancy

Purpose

216844473

[redacted]

24521949

Credit

Miscellaneous

Guideline

Credit Exception:

The credit application doesn't indicate if the borrower owns the primary residence as it is not listed as other properties owned. However, it is listed as a non-subject property rental property on the loan approval. Clarification and updated documents required for ownership of XXX property and supporting documents if rental income is to be used.

Reviewer Comment (2022-01-20): Clarification provided.

Buyer Comment (2022-01-20): As per UW notes on Credit Approval Form (see Doc Ref # xxxxx page xxx, xxxx is the borrower's friends property and he is renting as his primary residence. The note also indicates we have included $xxx for living costs - noted on xxxx page xxx. Our client does not own xxxx. Confirmation has been added to file.

Lease agreement for xxxx in file, please see Doc Ref # xxxxx. Mortgage statement for xxxx also in file, please see Doc Ref # xxxxx.

Buyer Comment (2022-01-20): Confirmation of ownership

01/20/2022

Investment

Purchase

216844473

[redacted]

24522191

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

Mortgage Statement was not provided

Reviewer Comment (2022-01-20): Clarification provided.

Buyer Comment (2022-01-20): Mortgage statement for xxxx in file, please see Doc Ref # xxxxx, bank statements (see Doc Ref # xxxxx) show this payment is being made. Mortgage statement for xxxx not required as our client does not own property.

01/20/2022

Investment

Purchase

216844474

[redacted]

24521265

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

Reviewer Comment (2022-01-20): Cleared.

Buyer Comment (2022-01-19): Executed loan commitment with guarantor signature in file. Doc Ref # xxxxx.

01/20/2022

Primary

Purchase

216844474

[redacted]

24521294

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

Reviewer Comment (2022-01-27): Clarification provided.

Buyer Comment (2022-01-27): History for xxxx account #xxxx is located on page xxx (from xxxx, when the account was opened, to xxxx).

Reviewer Comment (2022-01-24): Do you have a second month of statements for this account?

Buyer Comment (2022-01-20): A portion of the down payment was made from xxxx account #xxxx (Doc Ref # xxxxx page xxx0-201). Funds ($xxx) were transferred into this account from xxxx (see Doc Ref # xxxxx page xxx) on xx/xx/xxxx. Account history starting in April for xxxx is in file. Please see Doc Ref # xxxxx page xxxx.

01/27/2022

Primary

Purchase

216844476

[redacted]

24549109

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

Policy cancellation notice in file. Proof of re instatement not provided

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-21): Updated policy with xxxx located in file. Please see Doc Ref # xxxxx. Policy that was cancelled with xxxx was old policy.

01/24/2022

Investment

Refinance - UTD

216844476

[redacted]

24551569

Credit

Miscellaneous

Guideline

Credit Exception:

There are multiple livable square footage for the subject property shown on the appraisal report. Page 2 and on the Cost Approach Addendum show xxx SF; however, page 3, 6 and the subject photo pages show only xxx SF. On Page 7, the Market Rent Addendum, it has xxx SF. Please address/provide corrected appraisal with consistent square footage for the subject property.

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-21): Property is a duplex and has 2 distinct units. Total livable area is xxxx sq ft. The front unit is xxxx sq ft and the back unit is xxxx sq ft. The market rent addendum breaks down both the front unit and the back unit (see note on doc Ref # xxxxx, page xxxx).

01/24/2022

Investment

Refinance - UTD

216844476

[redacted]

24551784

Credit

Miscellaneous

Guideline

Credit Exception:

Missing trust ledger or other document to verify the debts marked as paid from proceeds were paid and can be excluded from ratios. Unable to reconcile TDSR calculations on approval.

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-21): Secured loans listed on credit bureau are business loans, we have not factored them into TDS as they are already factored in as business expenses on the stated income declaration form. See Doc Ref # xxxxx under "vehicle expenses/truck lease".

01/24/2022

Investment

Refinance - UTD

216844477

[redacted]

24519351

Credit

Insurance

Insurance Analysis

Insurance

Insurance address does not match Note address.

The unit number is not part of the subject address on the insurance binder.

Reviewer Comment (2022-01-20): Clarification provided.

Buyer Comment (2022-01-19): The insurance condo binder will not always contain a unit number. As long as the address is correct, the insurance condo binder covers the whole building.

01/20/2022

Investment

Refinance - UTD

216844477

[redacted]

24519390

Credit

System

General

System

1003 Subject Address does not match Note address.

Unit number is not listed on the credit application.

Reviewer Comment (2022-01-20): Cleared.

Buyer Comment (2022-01-19): Although a unit number was not listed on the credit application, a xxxx was retrieved to confirm ownership of the subject property. Please see Doc Ref # xxxxx which confirms borrower is on title. This report includes the unit number.

01/20/2022

Investment

Refinance - UTD

216844479

[redacted]

24519850

Credit

Missing Document

General

Missing Document

Missing Document: Identification Declaration not provided

Reviewer Comment (2022-01-20): Cleared.

Buyer Comment (2022-01-19): Identification Declaration form in file. Please see Doc Ref # xxxxx, xxxx.

01/20/2022

Primary

Refinance - UTD

216844480

[redacted]

24521528

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Missing verification of rent on borrower's primary rent obligation of $xxx a month

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-20): Borrowers do not own xxxx, see Doc Ref # xxxxx. As per xxxx Guidelines lease agreement is not required (see page xxx of Guidelines under "additional housing expenses")

01/24/2022

Investment

Refinance - Cash-out - Debt Consolidation

216844481

[redacted]

24545254

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

Missing lease agreement for the property address xxxx.

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-21): xxxx is also the mortgagee on xxxx. A copy of the appraisal report with the property's FMR has been uploaded. As per xxxx Guidelines, FMR is acceptable documentation to confirm rental income.

Buyer Comment (2022-01-21): Appraisal for xxxx attached.

01/24/2022

Primary

Purchase

216844481

[redacted]

24552220

Credit

Miscellaneous

Guideline

Credit Exception:

Loan approval exception: TDCT flagged the applicant's name, DOB, number, email and SIN with rationale being Suspicious Business Operations, as well as Applicant's business was flagged for Suspicious Business Operations. Provide evidence this was addressed.

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-25): As per guidelines, the UW is to add notes to confirm what EDD and documents they have in order to move forward with the deal when flagged by Corporate Compliance. Please see Ref # xxxxx (page xxx) for UW rationale and for notes re: the business along with VP's approval (page xxx) and note supporting the business.

01/27/2022

Primary

Purchase

216844481

[redacted]

24552241

Credit

System

General

Appraisal Reconciliation

Valuation address does not match Note address.

The address on the appraisal does not match the address on all other documents in the loan file. House number discrepancy to be addressed and corrected documents provided.

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-21): A copy of the appraisal report with the correct address has been uploaded.

Buyer Comment (2022-01-21): Appraisal attached.

01/24/2022

Primary

Purchase

216844484

[redacted]

24522448

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Reviewer Comment (2022-01-27): Provided.

Buyer Comment (2022-01-26): Due to a system issue the Credit Approval Form had to be regenerated. A copy has been uploaded.

Buyer Comment (2022-01-26): Credit Approval Form uploaded.

01/27/2022

Investment

Purchase

216844484

[redacted]

24522475

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-26): Gifted funds of $xxx,xxx USD was deposited to xxxx bank statement #xxx which is a US account. Since the balance in the account was $0 prior to the deposit and we are only using the gifted funds towards down payment, 90 days history is not required. Please see Doc Ref # xxxxx

01/27/2022

Investment

Purchase

216844484

[redacted]

24538135

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

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

Max LTV for rental properties is 75%.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Lender exception for LTV, comp factors listed on approval.

Owner

Owner

Owner,Originator

Reviewer Comment (2022-01-27): Lender exception for LTV, comp factors listed on approval.

Buyer Comment (2022-01-26): Exception to proceed with a LTV greater than 75% was approved by the appropriate authority level. As per xxxx Guidelines, this exception can be approved by a Director or above. Please see the approval note (page xx of uploaded Credit Approval Form) from Director xxxx.

01/27/2022

Investment

Purchase

216844484

[redacted]

24538136

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

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

Max LTV for rental properties is 75%.

Lender exception for LTV, comp factors listed on approval.

Owner

Owner

Owner,Originator

01/27/2022

Investment

Purchase

216844487

[redacted]

24511424

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Missing fully executed lease agreement or similar to verify subject's monthly rent income, since appraisal did not complete income approach section.

Reviewer Comment (2022-01-20): Rents addressed in addendum.

Buyer Comment (2022-01-19): Confirmation of rental income can be found in the appraisal. Please see Doc Ref # xxxxx page xxxx.

01/20/2022

Investment

Purchase

216844487

[redacted]

24517591

Credit

Guideline

Guideline Issue

Guideline

Appraisal must be dated no later than 90 days prior to origination date.

- Appraisal Date: ___, Note Date: ___

Page 8-9 of approval; lender noted the appraisal is 92 days and management is fine

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Comp factors used to waive exception.

Owner

Owner,Originator

Reviewer Comment (2022-01-18): Comments on Approval: Appraisal will be 92 days old as of funding date, which is 2 days outside of 90 day standard. UW and UW manager are fine with proceeding given that pricing trends per the reportare marked as "stable" and in reality there has been a slight bump in pricing trends in the lower mainland as of recent.

01/18/2022

Investment

Purchase

216844487

[redacted]

24520563

Credit

Miscellaneous

Guideline

Credit Exception:

The contract TDSR of 27.97% on the approval is not supported by the documents in the loan file. The rents for the subject property are not documented and the primary housing of $xxx noted in the approval was not included in the calculations. Please clarify.

Reviewer Comment (2022-01-20): Clarification provided

Buyer Comment (2022-01-19): Confirmation of rental income can be found in the appraisal. Please see Doc Ref # xxxxx page xxxx. The $xxx monthly housing cost is included in applicant liabilities under xxxx Payment. Please see Doc Ref # xxxxx page xxx.

01/20/2022

Investment

Purchase

216844489

[redacted]

24534409

Credit

System

General

Appraisal Reconciliation

Valuation address does not match Note address.

Reviewer Comment (2022-01-27): Clarification provided.

Buyer Comment (2022-01-27): Yes, as previously indicated xxxx includes 5 different communities including xxxx.

Reviewer Comment (2022-01-24): is this typical for the area?

Buyer Comment (2022-01-21): The city address noted on the appraisal (xxxx) and on the Credit Approval Form (xxxx) do not match, however, the City of xxxx includes the five constituent communities of xxxx, xxxx, xxxx, xxxx and part of xxxx, which is where this property is located.

01/27/2022

Investment

Refinance - UTD

216844490

[redacted]

24465860

Credit

Credit Calculation / Analysis

Credit

Verify aging of appraisal, credit report, income documentation and employment verifications to ensure adherence to guidelines when closing date has been set.

Reviewer Comment (2022-01-27): NA

01/27/2022

Primary

Purchase

216844490

[redacted]

24522768

Compliance

Loan Package Documentation

Application / Processing

Missing, Incorrect, or Incomplete Final or Initial 1003

Missing Document: Missing Lender's Initial 1003

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-20): Application in file. Please see doc Ref # xxxxx

01/24/2022

Primary

Purchase

216844490

[redacted]

24522769

Credit

Missing Document

General

Missing Document

Missing Document: Identification Declaration not provided

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-20): Identification Declaration form in file. Please see Doc Ref # xxxxx.

01/24/2022

Primary

Purchase

216844490

[redacted]

24522770

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-27): Registered charge uploaded.

Reviewer Comment (2022-01-24): we need a copy of the document, can you provide

Buyer Comment (2022-01-20): Please see registered charge confirming xxxx lien Doc Ref # xxxxx

01/28/2022

Primary

Purchase

216844490

[redacted]

24522856

Property

Guideline

Guideline Issue

Guideline

Appraiser, Valuation Company or AVM Company is not on the approved list.

- Appraiser Name:
___ ___.
Valuation Company: ___
___
___

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-20): The appraisal company on the loan is xxxx. which is on xxxx's approved list. Our approved appraiser list is based on the firm and not for each individual appraiser working for the appraisal company.

01/24/2022

Primary

Purchase

216844490

[redacted]

24523469

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-27): Year end statement uploaded.

Reviewer Comment (2022-01-24): is there a statement that you could provide? first payment letter?

Buyer Comment (2022-01-21): xxxx was purchased at the same time as the subject property, and xxxx provided the mortgage on this property. Both deals (subject and xxxx) closed on xx/xx/xxxx. This property is included on the Credit Approval Form and is a connected loan (see doc Ref # xxxxx page xxx).

01/27/2022

Primary

Purchase

216844490

[redacted]

24548598

Credit

Miscellaneous

Guideline

Credit Exception:

The net income stated on the income declaration document doesn't match the net income used by the underwriter on the loan approval, which is higher than originally stated. Unable to reconcile ratios.

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-21): Underwriter provided breakdown of income and addressed the discrepancy based on the documents provided. Please refer to the Credit Approval Form (Doc Ref # xxxxx, page xx-x and Doc Ref # xxxxx, page xxxx) for the Underwriter's notes. The Borrower has 2 streams of income: (1) Private lender referral income ($xxx,xxx), which is confirmed via bank statements (see Doc Ref # xxxxx), and (2) Mortgage Broker Income ($xxx,xxx) which is confirmed via 2020 net commission (see Doc Ref # xxxxx).

01/24/2022

Primary

Purchase

216844491

[redacted]

24685597

Credit

Miscellaneous

Guideline

Credit Exception:

Appraiser stated the subject requires finishing installing several times and per Borrower the cost to complete the renovation project is $10,000. 442 was not provided

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

Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Lender exception, comp factors noted on approval.

Owner

Owner

Owner,Originator

Reviewer Comment (2022-02-03): Waived

Reviewer Comment (2022-02-02): Comp factors used to waive exception

02/03/2022

Investment

Refinance - UTD

216844493

[redacted]

24535649

Credit

Missing Document

General

Missing Document

Missing Document: Application not provided

Missing credit application.

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-21): UW noted that there was a system error and as a result they were unable to upload the mortgage application to the file. UW referred to another related loan number that had been cancelled (same application) to see the application details. Application has been uploaded. Please note that the application had client's income as $xxx,xxx however, it did not include co-applicant's income as she is the applicant's employee.

Buyer Comment (2022-01-21): Application uploaded.

01/24/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844493

[redacted]

24536216

Credit

Credit Documentation

Missing Document

Missing Document: Credit Report not provided

Missing Credit Report.

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-20): Credit reports for both borrowers uploaded.

01/24/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844493

[redacted]

24536243

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Missing Verification of Mortgage (VOM).

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-20): There is no rental income associated with this loan. Mortgage statement for subject property can be found in Doc Ref # xxxxx page xxx.

01/24/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844500

[redacted]

24534284

Credit

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal not provided

The appraisals in the loan file are not for the subject property.

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-21): Appraisal uploaded.

01/24/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844500

[redacted]

24534658

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

VOM/VOR was not provided.

Reviewer Comment (2022-01-26): Cleared

Buyer Comment (2022-01-24): As per xxxx's Guidelines rental income can be confirmed via fair market rents. Verification of rent for the subject property (xxxx) is found on page xx of the uploaded appraisal. Mortgage statement for xxxx found can be found on page xxx, Doc Ref # xxxxx Verification of rent for non-subject property (xxxx) is found in the file. Please see Doc Ref # xxxxx for the Market Rent Appraisal Report. The mortgage statement for xxxx is in the file. Please see Doc Ref # xxxxx

01/26/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844501

[redacted]

24533967

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-25): As per xxxx's Guidelines rental income can be confirmed via fair market rents. The appraiser reported that Fair Market Rent for the subject property ranges from $xxx-$xxx. UW elected to use the lower amount of $xxx Details found on Pg. xxx Doc Ref # xxxxx. Non-subject property (xxxx) was purchased at the same time as the subject in 2016. Statement for blanket mortgage from xxxx was for subject and xxxx. is in the file (please Doc Ref # xxxxx). Lease agreement for xxxx is in file (please see Doc Ref # xxxxx. Mortgage statement for client's primary residence xxxx is in file (please see Doc Ref # xxxxx As this is the client's primary residence verification of rent is not applicable.

01/27/2022

Primary

Refinance - UTD

216844502

[redacted]

24563545

Credit

Miscellaneous

Guideline

Credit Exception:

The pension income used to qualify on the approval is higher than the amount documented in the loan file. Unable to reconcile ratios.

Reviewer Comment (2022-01-27): Clarification provided.

Buyer Comment (2022-01-24): As per xxxx's Guidelines (section 7.3.2.9) CCTB income may be grossed up by 25%. As such, the Applicant's CCTB Pension income has been calculated as follows: $xxxx x 12 x 1.25 gross up Please see xxxx bank statements to confirm deposits (Doc Ref # xxxxx and xxxx).

Co-applicant OAS increased in 2021 and was calculated as $xxxx x 12 = $xxxx (see Doc Ref # xxxxx for bank statement confirming deposit). Co-applicant ODSP was calculated as $xxxx x 12 = $xxxx (see Doc Ref # xxxxx for bank statement confirming deposit).

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844503

[redacted]

24538536

Credit

Miscellaneous

Guideline

Credit Exception:

Subject is a SFD. Per lender's notes and Appraiser's note, subject is owner occupy and does not have a separate living quarter; renting to non-relation tenant for $xxx a month with lease provided.

Reviewer Comment (2022-01-27): Clarification provided.

Buyer Comment (2022-01-26): The subject property is fully tenanted. Fair Market Rent (Doc Ref # xxxxx and lease agreement (Doc Ref # xxxxx confirm that the whole house is rented for $xxx/month. The clients are currently residing at xxxx which is the location of their restaurant. The self declared income form (see Doc Ref # xxxxx includes rent expense and therefore no shelter payment was included in the liabilities. The clients xxxx address shows as the subject property as they preferred all their mail to be sent to a more secure location.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844503

[redacted]

24563886

Credit

Miscellaneous

Guideline

Credit Exception:

The trust Ledger in the file does not indicate the debts paid off at closing that were instructed on the Schedule A/closing instructions (doc ID 57). Unable to reconcile ratios.

Reviewer Comment (2022-01-27): Reconciled.

Buyer Comment (2022-01-25): Trust ledger does not show debts were paid off at closing as they were paid prior to refinance. Please see Doc Ref # xxxxx or letter confirming no interest with xxxx. Please see Doc Ref # xxxxx for copies of receipts confirming both credit card balances have been paid. Please see page xxxx for clear certificate confirming no liens for both borrowers. Please see Doc Ref # xxxxx for stat dec signed by borrowers confirming that all four debts have been paid off.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844506

[redacted]

24554165

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

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

Rental Properties maximum LTV is 75% up to $1M loan amount.

Borrower has worked in the same position for more than 3 years.

Borrower has verified disposable income of at least $2500.00.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Comp factors used to waive exception

Owner

Owner

Owner,Originator

Reviewer Comment (2022-01-24): Comp factors used to waive exception

Buyer Comment (2022-01-20): Exception to proceed with a LTV greater than 75% was approved by the appropriate authority level. As per xxxx Guidelines, this exception can be approved by a Director or above. Please see the approval note (page xx Doc Ref # xxxxx) from Director xxxx.

01/24/2022

Investment

Purchase

216844508

[redacted]

24537649

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

Need a signed copy.

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-24): Executed loan commitment with guarantor signature in file. Doc Ref # xxxxx pg. xxx.

01/24/2022

Primary

Refinance - UTD

216844509

[redacted]

24542956

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-24): Subject property is a owner occupied Purchase. Clients do not own another rental property and we are not using rental income on this file.

01/24/2022

Primary

Purchase

216844509

[redacted]

24543161

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

Missing bank statements to verify deposits of child income.

Reviewer Comment (2022-01-24): Cleared

Buyer Comment (2022-01-24): As per xxxx's Guidelines CTB income can be confirmed via 3 months bank statements OR Child Benefit Statement. We have Child Benefit statement on file. Please see Ref. Doc # xxxx.

01/24/2022

Primary

Purchase

216844511

[redacted]

24546682

Credit

Miscellaneous

Guideline

Credit Exception:

The Gift letter provided does not reflect correct subject property address

Reviewer Comment (2022-01-27): Clarification provided.

Buyer Comment (2022-01-27): Gifted funds were from the applicant's father. When completing the gift letter he used the applicant's existing address rather than the address of the property she was purchasing. During the client interview the UW confirmed the funds were being gifted from the father. The UW also verified that the funds had been deposited into the client's bank account. Please see Doc Ref # xxxxx or deposit on xx/xx/xxxx.

01/27/2022

Primary

Purchase

216844513

[redacted]

24538662

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

Insufficient assets verified. Down payment is $xxx,xxx. Proceeds of sale of departing residence is $xxx,xxx per Estimated Closing Statement provided.

Reviewer Comment (2022-01-27): Cleared.

Buyer Comment (2022-01-26): Down payment was $xxx,xxx which was comprised of the deposit ($xxx,xxx) and proceeds for the sale of their existing home. Final Trust Ledger uploaded confirming sufficient funds.

Buyer Comment (2022-01-26): Final Trust Ledger uploaded.

01/27/2022

Primary

Purchase

216844514

[redacted]

24567764

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

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

Max LTV is 75% for investment property up to $1M loan amount.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Comp factors used to waive exception

Owner,Originator

Reviewer Comment (2022-01-24): Comp factors used to waive exception

Buyer Comment (2022-01-24): Exception to proceed with a LTV greater than 75% was approved by the appropriate authority level. As per xxxx Guidelines, this exception can be approved by a Director or above. Please see the approval note (page xx Doc Ref # xxxxx from Director xxxx.

01/24/2022

Investment

Purchase

216844516

[redacted]

24543149

Credit

Insurance

Insurance Analysis

Insurance

Insurance address does not match Note address.

Reviewer Comment (2022-01-28): Clarification provided, legal document reflects correct address.

Buyer Comment (2022-01-27): The insurance address is correct and matches the registered charged (Ref # xxxxx. The address was initially submitted as unit xxx, instead of unit xxx. The solicitor executed all other documents with the correct unit, and the client welcome letter (Ref # xxxxx reflects the correct unit.

Reviewer Comment (2022-01-27): The address on the Note/Cost of Borrowing Disclosure Statement is xxxx, which doesn't match the address on the insurance.

Buyer Comment (2022-01-24): The subject property address is xxxx. This matches the address on the Insurance policy (please see Doc Ref # xxxxx.

01/28/2022

Investment

Purchase

216844516

[redacted]

24543152

Credit

System

General

Appraisal Reconciliation

Valuation address does not match Note address.

Reviewer Comment (2022-01-28): Clarification provided, legal document reflects correct address.

Buyer Comment (2022-01-27): The appraisal address is correct and matches the registered charged (Ref # xxxxx. The address was initially submitted as unit xxx, instead of unit xxx. The solicitor executed all other documents with the correct unit, and the client welcome letter (Ref # xxxxx reflects the correct unit.

Reviewer Comment (2022-01-27): The address on the Note/Cost of Borrowing Disclosure Statement is xxxx, which doesn't match the address on the insurance.

Buyer Comment (2022-01-24): The subject property address is xxxx. This matches the address on the appraisal (see Doc Ref # xxxxx.

01/28/2022

Investment

Purchase

216844516

[redacted]

24553668

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

Reviewer Comment (2022-01-27): Cleared.

Buyer Comment (2022-01-25): Please see Doc Ref # xxxx-xxxx for documentation for xxxx account #xxxx. This statement was provided to confirm the deposit of $xxx,xxx to this account from the refinance of the applicant's existing property. Please see the trust ledger (Doc Ref # xxxxx. 90 days history is not required for xxxx account #xxxx as the source of down payment ($xxx,xxx) is the refinance, which has been verified.

01/27/2022

Investment

Purchase

216844516

[redacted]

24553676

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Missing statement and tax verification for xxxx property.

Reviewer Comment (2022-01-27): Provided

Buyer Comment (2022-01-24): Applicants refinanced xxxx property and used funds for down payment on subject property. Mortgage commitment from xxxx confirming the mortgage terms, page xxx (Doc Ref # xxxx and xxxx). Property tax statement is in file. Please see page xxx, Doc Ref # xxxxx

01/27/2022

Investment

Purchase

216844517

[redacted]

24544029

Credit

Guideline

Guideline Issue

Guideline

Credit Report must be no older than 90 days at time of origination.

- Credit Report date: ___

90 days passed between the Credit Report Date and the Note Date.

Reviewer Comment (2022-01-28): Addressed.

Buyer Comment (2022-01-28): xxxx's system has built in controls and does not allow a loan to fund if the credit bureau is older than 90 days when it is sent to Funding. xxxx's Guideline relates to the file passing from Underwriting to Funding and does not refer to the Funding date.

Reviewer Comment (2022-01-27): If the note date was the xxth, i would agree with you. But as the note date is the xxth, we are going to need a lender exception to cure this.

Buyer Comment (2022-01-27): There was no exception as this transaction was file complete in Funding and posted on xx/xx/xxxx (90 days). Funds were released on xx/xx/xxxx.

Reviewer Comment (2022-01-26): was an exception granted for this?

Buyer Comment (2022-01-24): It is noted that the funded loan had a credit bureau report which was 91 days old at the time of funding. With a client having a xxx beacon score and all trades paid A1 this is acceptable as the date was moved to accommodate a change in the purchase date.

01/28/2022

Primary

Purchase

216844517

[redacted]

24544365

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met according to Decision System Input.

All documentation requirements for ___ were not met.

Insufficient assets verified for down payment of 20%.

Reviewer Comment (2022-01-26): Cleared

Buyer Comment (2022-01-25): Total down payment required was $xxx,xxx. $xxx,xxx deposit was paid with the offer see Doc Ref # xxxxx for bank account showing withdrawal. The remaining $xxx,xxx came from:
a) xxxx Personal account #xxxx (see Doc Ref # xxxxx) showing balance of $xxx,xxx. $xxx,xxx gifted funds were deposited into this account on xx/xx/xxxx (see Doc Ref # xxxxx for gift letter).
b) xxxx Business account #xxxx see Doc Ref # xxxxx #xxxx and #xxxx for 3 months history and balance of $xxx,xxx.
c) xxxx Personal account #xxxx see Doc Ref # xxxxx for 3 months history and showing balance of $xxx,xxx.

01/26/2022

Primary

Purchase

216844517

[redacted]

24568120

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception noted on approval: borrower self-employed less than 2 years. Recently incorporated business, but verified in business for 7 years.

Borrower has verified disposable income of at least $2500.00.

Lender exception comp factors: Worked in industry for 7 years, strong credit and TDSR of 40%.

Owner,Originator

Reviewer Comment (2022-01-21): Lender granted exception approval noted on approval.

01/21/2022

Primary

Purchase

216844518

[redacted]

24573134

Property

Property - Appraisal

Appraisal Reconciliation

Property - Appraisal

Appraisal is required to be in name of Lender

Missing appraisal transfer letter.

Reviewer Comment (2022-01-26): Cleared

Buyer Comment (2022-01-24): Transmittal letter is in file. Please see Ref. Doc #xxxx, page xxx.

01/26/2022

Primary

Purchase

216844519

[redacted]

24625839

Property

Guideline

Guideline Issue

Guideline

Appraiser, Valuation Company or AVM Company is not on the approved list.

- Appraiser Name:
___ ___.
Valuation Company: ___
___
___

Appraisal company xxxx Ltd not reflected on the Appraisal approve list. Additionally, the value on the this appraisal is lower than the other valuation appraisal. The approval used the higher of the two valuations.

Reviewer Comment (2022-01-28): Addressed. XXX valuation supports value used by xxxx on form/appraisal required.

Buyer Comment (2022-01-28): The Appraisal from xxxx was submitted with the mortgage application and was prepared for xxxx. It was not completed by a xxxx approved appraiser and does not meet xxxx's criteria/requirements. As such, xxxx did not rely on the value and commissioned a separate appraisal from xxxx. If xxxx had used the lower value of $xxx,xxx the LTV would have remained very low at xx%.

Reviewer Comment (2022-01-27): Doc ID xxxx.

Buyer Comment (2022-01-27): The appraisal was completed by xxxx (xxxx) which is on xxxx's approved list. Our approved appraiser list is based on the firm and not for each individual appraiser working for the appraisal company.

The appraised valued is $xxx,xxx. Please see Doc Ref # xxxxx or a copy of the Appraisal and the Underwriter's notes regarding the property value on the Credit Approval Form (pg. xxx, Doc Ref # xxxxx

Please provide Doc Ref # xxxxx xxxx appraisal as we have not been able to find in file.

01/28/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844521

[redacted]

24544887

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Missing Verification of Mortgage (VOM).

Reviewer Comment (2022-01-26): Cleared

Buyer Comment (2022-01-24): Purpose of the mortgage was to refinance an owner occupied property. As such, a lease agreement/verification of rent is not applicable. Discharge statement for the private mortgage that was paid out is in file. Please see Doc Ref #xxxx.

01/26/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844522

[redacted]

24576855

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

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

Max LTV is 75% for loan amount up to $1M.

Borrower has worked in the same position for more than 3 years.

Lender exception, comp factors noted on approval.

Owner,Originator

Reviewer Comment (2022-01-27): Lender exception, comp factors noted on approval.

Buyer Comment (2022-01-24): Exception to proceed with a LTV greater than 75% was approved by the appropriate authority level. As per xxxx Guidelines, this exception can be approved by a Director or above. Please see the approval note (page xx Doc Ref # xxxxx from Director xxxx.

01/27/2022

Investment

Purchase

216844523

[redacted]

24575908

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

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

Max LTV on rental properties is 75% up to $1M.

Borrower has worked in the same position for more than 3 years.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Lender exception, comp factors noted on approval.

Owner

Owner,Originator

01/27/2022

Investment

Purchase

216844525

[redacted]

24545455

Credit

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal not provided

Documentation is missing from the file

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-24): Appraisal uploaded.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844525

[redacted]

24545910

Credit

Loan Package Documentation

Application / Processing

Property - Appraisal

Missing Valuation:

Appraisal documentation is missing from the file

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-24): Appraisal uploaded.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844528

[redacted]

24561558

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Reviewer Comment (2022-01-27): In file.

Buyer Comment (2022-01-25): Lease agreement for xxxx in file. Please see page xxx AND Doc Ref # xxxxx page xxx.

01/27/2022

Investment

Purchase

216844530

[redacted]

24547112

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Missing mortgage statement for xxxx

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-27): Please see page xxx for mortgage statement and Doc Ref # xxxxx for tax statement for xxxx.

Reviewer Comment (2022-01-27): The document noted is for the subject property and not the rental property on xxxx.

Buyer Comment (2022-01-25): Mortgage statement for xxxx can be found on page xxx (Doc Ref # xxxxx.

01/28/2022

Primary

Purchase

216844533

[redacted]

24546435

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Missing mortgage/charge document.

Reviewer Comment (2022-01-27): In file.

Buyer Comment (2022-01-25): Registered charge confirming xxxx lien found in Doc Ref #xxxx

01/27/2022

Primary

Purchase

216844533

[redacted]

24547255

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

Missing T-4 documents to verify previous year income.

Reviewer Comment (2022-01-27): Addressed.

Buyer Comment (2022-01-25): As per xxxx Guidelines, the UW is to add rationale for income if a two year track record (T4 documents) is not possible. Please see Doc Ref # xxxxx(xxxx) for UW rationale for using 2021 Yxxxx and that income will actually be higher for the full year.

01/27/2022

Primary

Purchase

216844535

[redacted]

24548293

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

Reviewer Comment (2022-01-27): Verified

Buyer Comment (2022-01-26): Statement for xxxx (account # xxxx) showing a balance of $xxx,xxx is found on page xxxx (Doc Ref # xxxxx.
Statement for xxxx (account # xxxx) showing a balance of $xxx,xxx is found on page xxx (Doc Ref # xxxxx.
Statement for xxxx (account #xxxx) showing a balance of $xxx,xxx is found on page xxx (Doc Ref # xxxxx.
Statement for xxxx xxxx (account# xxxx) showing a balance of $xxx,xxx is found on page xxxx (Doc Ref # xxxxx.
Please note that xxxx Guidelines do not require asset verification when the client has indicated that they have assets but they are not being used for down payment.

01/27/2022

Investment

Purchase

216844535

[redacted]

24565331

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-27): Please see Doc Ref # xxxxx for xxxx mortgage statement confirming PI for xxxx. No name is showing on the statement however the PI of $xxx matches the payment coming out of the borrower's business bank account (Doc Ref # xxxxx. Please also see xxxx (Doc Ref # xxxxx confirming borrowers ownership of the property and xxxx as the mortgagee.

Reviewer Comment (2022-01-27): Still missing mortgage statement to verify P&I payment.

Buyer Comment (2022-01-24): Property tax statement for XXX property found in file. Please see Doc Ref # xxxxx

01/28/2022

Investment

Purchase

216844537

[redacted]

24566795

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Missing lease agreements for both rental properties.

Reviewer Comment (2022-01-27): Provided

Buyer Comment (2022-01-25): xxxx: lease agreements in the file. Please see page xxx and xxx.

xxxx: lease agreements in the file. Please see page xxx and xxx. Please note that the main floor lease agreement is from 2017, but the tenant still resides there and rent has increased to $xxx per month. To confirm the deposit please see page xxx, Doc Ref # xxxxx(Mar 1st $xxx and Mar 5th $xxx).

01/27/2022

Investment

Purchase

216844537

[redacted]

24583671

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

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

Max LTV of 75% for rental property up to $1M.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Comp factors noted on approval to waive VVOE requirement.

Owner,Originator

Reviewer Comment (2022-01-24): Comp factors noted on approval to waive VVOE requirement.

01/24/2022

Investment

Purchase

216844537

[redacted]

24583716

Credit

Miscellaneous

Guideline

Credit Exception:

Comp factors noted on approval to waive VVOE requirement.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Comp factors noted on approval to waive VVOE requirement.

Owner,Originator

Reviewer Comment (2022-01-24): Comp factors noted on approval to waive VVOE requirement.

01/24/2022

Investment

Purchase

216844540

[redacted]

24584942

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Reviewer Comment (2022-01-27): Docs identified in file.

Buyer Comment (2022-01-25): Mortgage statement is in file. Please see Doc Ref # xxxxx.

Property tax statements is in file. Please see Doc Ref # xxxxx

xxxx statements confirming condo fees are in the file. Please see Doc Ref # xxxxx #xxxx

01/27/2022

Primary

Purchase

216844541

[redacted]

24567054

Credit

Income

Document Error

Income

The number of consecutive months receipt is unknown.

Alimony income required 12 months receipts when only 3 months is in file due to recent divorced. Alimony income exceed 50% of total qualifying income.

Borrower has verified disposable income of at least $2500.00.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

LTV 48%

Owner

Owner,Originator

Reviewer Comment (2022-01-24): Comp factors used to waive exception.

01/24/2022

Primary

Purchase

216844542

[redacted]

24550218

Credit

Miscellaneous

Guideline

Credit Exception:

Missing evidence or proof of payment for the liability with xxxx. A proof of payment needs to be provided so as to exclude the liability.

Reviewer Comment (2022-01-27): Provided.

Buyer Comment (2022-01-26): Solicitor Trust Ledger on file for xxxx confirms payment of xxxx mortgage and HELOC. Please see Doc Ref # xxxxx page xxx and Doc Ref # xxxxx page xxx.

01/27/2022

Primary

Purchase

216844543

[redacted]

24584975

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Please provide the tax verification and documentation showing if the monthly tax payment is escrowed.

Reviewer Comment (2022-01-27): in file.

Buyer Comment (2022-01-25): Property tax statement for xxxx. can be found on page xxx (Doc Ref # xxxxx). Annual taxes for this property totals $xxx. The client's monthly mortgage payment includes a tax payment of $xxx. Please see Doc Ref # xxxxx (page xx for confirmation of amount.

01/27/2022

Investment

Purchase

216844547

[redacted]

24572331

Credit

Credit Documentation

Guideline

Missing Document: Asset not provided

Missing the Trust Ledger or Statement of Adjustments to verify borrower Assets from the sale of prior property.

Reviewer Comment (2022-01-27): Provided.

Buyer Comment (2022-01-25): Please see the following documents confirming the sale of the existing property (xxxx) a) Trust ledger found in Doc Ref # xxxxx) Firm sale agreement found in Doc Ref # xxxxx

01/27/2022

Primary

Purchase

216844548

[redacted]

24600427

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception: Purchase price 16% above MLS listing price, comp factors listed on approval in file.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Borrower has worked in the same position for more than 3 years.

Lender exception granted, comp factors listed on approval.

Owner

Owner,Originator

Reviewer Comment (2022-01-25): Lender exception granted, comp factors listed on approval.

01/25/2022

Primary

Purchase

216844549

[redacted]

24596595

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception; Purchase price > 15% above list price.

Borrower has worked in the same position for more than 3 years.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Comp factors used to waive exception.

Owner

Owner,Originator

Reviewer Comment (2022-01-25): Comp factors used to waive exception.

01/25/2022

Primary

Purchase

216844549

[redacted]

24596775

Credit

Miscellaneous

Guideline

Credit Exception:

Missing VVOE for co-borrower.

Borrower has worked in the same position for more than 3 years.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Comp factors used to waive exception.

Owner

Owner,Originator

Reviewer Comment (2022-01-25): Lender exception granted on approval.

01/25/2022

Primary

Purchase

216844550

[redacted]

24551746

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

Missing statements, leases and tax documents for all rental properties.

Reviewer Comment (2022-01-27): In file

Buyer Comment (2022-01-25): xxxx:
Mortgage Statement: Not applicable, see uploaded Purview report confirming no registered mortgages
Lease Agreement: see uploaded agreement
Tax Statement: Doc Ref # xxxxx page xxx

xxxx:
Mortgage Statement: page xxx
Lease Agreement: Doc Ref # xxxxx page xxx
Tax Statement: Doc Ref # xxxxx page xxx

xxxx:
Mortgage Statement: Doc Ref # xxxxx Lease Agreement: Doc Ref # xxxxx page xxx
Tax Statement: Doc Ref # xxxxx page xxx

Buyer Comment (2022-01-25): Purview and lease agreement for xxxx. uploaded.

01/27/2022

Primary

Purchase

216844550

[redacted]

24596416

Credit

Miscellaneous

Guideline

Credit Exception:

VVOE missing. Lender exception noted on approval.

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Owner

Owner

Reviewer Comment (2022-01-25): Comp factors noted on approval.

01/25/2022

Primary

Purchase

216844552

[redacted]

24551811

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Missing the proof of the borrower's primary residence rental payments/shelter costs.

Reviewer Comment (2022-01-27): Clarification provided.

Buyer Comment (2022-01-25): Borrowers live with their sister at xxxx. As sister owns the property, PIT was not included in the ratios however the UW has factored in a shelter cost of $xxx/month in the TDS ratios. No rental agreement was in place as they are family.

01/27/2022

Investment

Purchase

216844554

[redacted]

24554389

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Lease Agreement is missing from the file to verify Rental income

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-25): As per xxxx's Guidelines rental income can be verified by way of FMR. Please see page xxx for confirmation of Fair Market Rent.

01/27/2022

Primary

Purchase

216844555

[redacted]

24552498

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Reviewer Comment (2022-01-27): In file.

Buyer Comment (2022-01-25): Please see registered charge confirming xxxx lien Doc Ref # xxxxx, xxxx, xxxx.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844555

[redacted]

24552501

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-25): The subject property is owner occupied, as such verification of rent is not applicable.

Order to Pay to pay out xxxx (builder) is in file. Please see Doc Ref #xxxx.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844555

[redacted]

24553973

Property

Property - Appraisal

General Appraisal Requirements

Property - Appraisal

The transaction closed as a refinance of a primary residence, and the valuation reflects that the subject property is vacant. Unable to verify occupancy.

Refinance; title transfer. The Appraisal reported the property is vacant.

Reviewer Comment (2022-01-27): Clarification provided

Buyer Comment (2022-01-26): The borrowers are refinancing the property to payout their business partner who built the townhouse complex. The property was vacant at the time of the Appraisal as construction had just finished. The clients will be moving in to the subject and had been living at xxxx.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844555

[redacted]

24583513

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Missing the Bank Statements used for Employment verification by UW, as indicated by approval.

Reviewer Comment (2022-01-27): In file.

Buyer Comment (2022-01-25): Account statement is in file. Please see page xxx.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844556

[redacted]

24554011

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Missing mortgage statement.

Reviewer Comment (2022-01-27): Provided

Buyer Comment (2022-01-25): Mortgage statement has been uploaded.

01/27/2022

Investment

Purchase

216844558

[redacted]

24554856

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

The Hazard Insurance Policy was not provided for review.

Reviewer Comment (2022-01-27): In file.

Buyer Comment (2022-01-25): Please see certificate of insurance, Doc Ref # xxxxx

01/27/2022

Investment

Purchase

216844558

[redacted]

24554997

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Reviewer Comment (2022-01-27): In file

Buyer Comment (2022-01-27): Mortgage statement for xxxx is located at Doc Ref # xxxxx page xxx. Mortgage statement for xxxx located at Doc Ref # xxxxx- xxxx page xxx.

Reviewer Comment (2022-01-27): Still unable to locate the mortgage statement for each property.

Buyer Comment (2022-01-25): xxxx and xxxx are non-subject properties owned by the client As per xxxx's Guidelines confirmation of property insurance is not required for non-subject properties.

01/27/2022

Investment

Purchase

216844559

[redacted]

24556984

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

Missing one month of bank statements.

Reviewer Comment (2022-01-27): Cleared.

Buyer Comment (2022-01-25): The UW has elected not to use xxxx Acct #xxxx for down payment or for income (see note in Credit Approval Form, Doc Ref # xxxxx, page xx. Instead UW has used the 2019 and 2020 T4 two year average to validate the main applicant's income, which was $xxx,xxx, please see Ref. Doc# xxxx and #xxxx for the T4s. Qualifying income for the co-applicant ($xxx,xxx) was verified via the letter of employment (Please see Ref. Doc# xxxx).

01/27/2022

Primary

Purchase

216844559

[redacted]

24585154

Credit

Miscellaneous

Guideline

Credit Exception:

Missing Bank Statements to verify Assets for all borrower.

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-27): xxxx does not require asset verification as part of our underwriting process when the client has indicated that they have assets but they aren't being used for down payment.

01/27/2022

Primary

Purchase

216844559

[redacted]

24593606

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception: Purchase price more than 15% over list approved. Marketable home in xxxx, experienced home owners, good credit confirmable incomes and manageable TDS.

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Comp factors noted on approval.

Owner

Owner,Originator

Reviewer Comment (2022-01-25): Comp factors noted on approval.

01/25/2022

Primary

Purchase

216844559

[redacted]

24593753

Credit

Miscellaneous

Guideline

Credit Exception:

Missing VVOE for primary borrower. Exception noted in UW Approval Rationale, exception approved.

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Comp factors noted on approval.

Owner

Owner,Originator

Reviewer Comment (2022-01-25): Comp factors noted on approval.

01/25/2022

Primary

Purchase

216844563

[redacted]

24556406

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

lender to provide

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-27): Report uploaded.

01/27/2022

Investment

Purchase

216844564

[redacted]

24556909

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Missing proof of Lease Agreement and property taxes for xxxx

Reviewer Comment (2022-01-31): Cleared

Buyer Comment (2022-01-27): Fair Market Rents uploaded.

Buyer Comment (2022-01-27): Tax certificate uploaded.

Reviewer Comment (2022-01-27): No new images are showing for this file. Please load again.

Buyer Comment (2022-01-25): A copy of Fair Market Rents and tax certificate have been uploaded. xxxx is also the mortgagee on xxxx. Please see the Credit Approval Form (page xx Doc Ref # xxxxx for additional details.

01/31/2022

Primary

Refinance - UTD

216844566

[redacted]

24557958

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Lease Agreement was not provided.

01/27/2022

Investment

Refinance - Cash-out - Debt Consolidation

216844567

[redacted]

24556804

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Reviewer Comment (2022-01-27): In file

Buyer Comment (2022-01-27): Registered charge confirming xxxx lien found on Doc Ref # xxxxx.

01/27/2022

Primary

Refinance - UTD

216844567

[redacted]

24557041

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

Reviewer Comment (2022-01-27): Provided.

Buyer Comment (2022-01-27): Please see 2019 and 2020 T4's (W-2's) page xxx, Doc Ref # xxxxx and page xxx.

01/27/2022

Primary

Refinance - UTD

216844567

[redacted]

24611729

Credit

Miscellaneous

Guideline

Credit Exception:

Please provide the closing statement for proof of debt payoffs.

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-27): Please see Trust Ledger Statement, page xxx.

01/27/2022

Primary

Refinance - UTD

216844568

[redacted]

24572577

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

There was an insurance policy dated xx/xx/xxxx however there is a document in file dated xx/xx/xxxx indicating the property has been removed from the Policy and no new Policy was provided in file.

Reviewer Comment (2022-01-28): Sufficient coverage verified at time of closing.

Buyer Comment (2022-01-28): xxxx was in receipt of a valid policy when the loan funded, however the policy was subsequently cancelled and xxxx was notified of the cancellation. Once xxxx received the cancellation notice from the insurance company the client was contacted and the property was added to xxxx's impairment policy, which is our standard process. Please see the uploaded client letters requesting the new policy and advising them of the process and fee.

Buyer Comment (2022-01-28): Client insurance letters uploaded.

01/28/2022

Primary

Purchase

216844569

[redacted]

24611142

Credit

System

General

Appraisal Reconciliation

Valuation address does not match Note address.

The address on the Note/Cost of Borrowing Disclosure Statement and Charge/mortgage is xxxx. and the address on the appraisal is xxxx. Appraisal to be corrected.

Reviewer Comment (2022-01-28): Provided

Buyer Comment (2022-01-27): Appraisal uploaded.

01/28/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844569

[redacted]

24611163

Property

Property - Appraisal

Appraisal Reconciliation

Property - Appraisal

Appraisal is required to be in name of Lender

The lender/intended user on both copies of the appraisal are not xxxx. Missing appraisal transfer letter.

Reviewer Comment (2022-01-28): Provided.

Buyer Comment (2022-01-27): Reliance Letter uploaded.

01/28/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844569

[redacted]

24611180

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception: Refinance within 18 months, comp factors noted on appraisal.

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

Borrower has worked in the same position for more than 3 years.

Lender exception: Refinance within 18 months, comp factors noted on appraisal.

Owner

Owner,Originator

Reviewer Comment (2022-01-26): Lender exception: Refinance within 18 months, comp factors noted on appraisal.

01/26/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844570

[redacted]

24558122

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Security instrument not provided.

Reviewer Comment (2022-01-27): In file.

Buyer Comment (2022-01-26): Please see registered charge confirming xxxx lien Doc Ref # xxxxx page xxx

01/27/2022

Investment

Purchase

216844570

[redacted]

24558394

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

Award letter was not provided going off approval
lender to send in

Reviewer Comment (2022-01-27): Provided.

Buyer Comment (2022-01-26): xxxx: applicant is collecting Old Age Security (OAS). As per xxxx Guidelines this can be confirmed via 3 months bank statements showing direct deposits. Please see Doc Ref # xxxxx page xxx for bank statements.

01/27/2022

Investment

Purchase

216844571

[redacted]

24557436

Credit

System

General

Appraisal Reconciliation

Valuation address does not match Note address.

Verified property address variance.

Reviewer Comment (2022-01-27): Formatting.

Buyer Comment (2022-01-25): Address listed on the appraisal is xxxx (Doc Ref # xxxxx page xxx). This matches the address listed on the Credit Approval Form (Doc Ref # xxxxx, page xx.

01/27/2022

Investment

Refinance - UTD

216844571

[redacted]

24557460

Credit

Insurance

Insurance Analysis

Insurance

Insurance address does not match Note address.

Verified property address variance.

Reviewer Comment (2022-01-27): Clarification provided.

Buyer Comment (2022-01-25): Certificate of insurance is located in the file (Doc Ref # xxxxx). The insurance condo binder will not always contain a unit number. As long as the address is correct, the insurance condo binder covers the whole building.

01/27/2022

Investment

Refinance - UTD

216844571

[redacted]

24557524

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Verified mortgage history.

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-25): Mortgage history for the subject property is in the file. Please see Doc Ref # xxxxx, page xxx.

Mortgage statement for non-subject property, xxxx., is in the file. Please see Doc Ref # xxxxx.

01/27/2022

Investment

Refinance - UTD

216844572

[redacted]

24565014

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

xxxx, missing mortgage statement and lease agreement.

Reviewer Comment (2022-01-28): All documents provided.

Buyer Comment (2022-01-28): xxxx:
Mortgage statement located at page xxx (xxxx statement).
Lease agreement has been uploaded.
Property Tax statement located at Doc Ref # xxxxx page xxx.

xxxx:
Mortgage statement located at Doc Ref # xxxxx page xxx AND xxxx page xxx.
T1 Generals confirming rent located at page xxx.
Property Tax statement located at Doc Ref # xxxxx page xxx.

Buyer Comment (2022-01-28): Lease agreement for xxxx uploaded.

Reviewer Comment (2022-01-27): Still missing documents for xxxx and xxxx.

Buyer Comment (2022-01-26): Lease agreement and commitment letter uploaded.

Buyer Comment (2022-01-26): Lease agreement for xxxx has been uploaded. xxxx is also the mortgagee on xxxx. Please see the uploaded commitment letter for xxxx and the Credit Approval Form (xxxx, pg. xxx).

01/28/2022

Investment

Refinance - Cash-out - Other

216844574

[redacted]

24557541

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Reviewer Comment (2022-01-27): In file

Buyer Comment (2022-01-26): Please see registered charge confirming xxxx lien page xxx.

01/27/2022

Primary

Purchase

216844575

[redacted]

24562725

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Lease Agreement is missing from file to verify Rental income

Reviewer Comment (2022-01-27): Some items provided. See updated exception.

Buyer Comment (2022-01-26): xxxx: As per xxxx's Guidelines rental income can be confirmed via fair market rents. The appraiser reported that Fair Market Rent for the property ranges from $xxx to $xxx. UW used $xxx. Details found in appraisal report in Doc Ref # xxxxx Tax certificate in file. Please see Doc Ref # xxxxx

xxxx: Lease agreement can be found under Doc Ref # xxxxxxxxx is also the mortgagee on this property. Please see the Credit Approval Form (Doc Ref # xxxxx for additional details. The monthly mortgage payment includes a tax component.

xxxx: This property is owner occupied, as such a lease agreement is not applicable. xxxx is also the mortgagee on this property. Please see the Credit Approval Form (Doc Ref # xxxxx for additional details. The monthly mortgage payment includes a tax component.

xxxx: Appraisal report confirming Fair Market Rent has been uploaded. xxxx is also the mortgagee on this property. Please see the Credit Approval Form (Doc Ref # xxxxx for additional details. The monthly mortgage payment includes a tax component.

xxxx: Appraisal report confirming Fair Market Rent has been uploaded. xxxx is also the mortgagee on this property. Please see the Credit Approval Form (Doc Ref # xxxxx for additional details. The monthly mortgage payment includes a tax component.

Buyer Comment (2022-01-26): Appraisals uploaded to confirm Fair Market Rent.

01/27/2022

Investment

Refinance - UTD

216844575

[redacted]

24632939

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Updated exception: still missing statement for xxxx; tax statement and mortgage statement for xxxx

Reviewer Comment (2022-01-31): Provided

Buyer Comment (2022-01-28): Year End Statements for xxxx uploaded which includes evidence of tax payment. Welcome Letter and Tax Letter for xxxx uploaded as evidence of tax payment.

01/31/2022

Investment

Refinance - UTD

216844577

[redacted]

24558347

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Provide the VOM for the primary residence.

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-25): Please see xxxx Line of Credit statement (HELOC secured on xxxx), Doc Ref # xxxxx This is also confirmed via the xxxx report for the property (Doc Ref # xxxxx, page xx), which shows the $xxx,xxx charge.

01/27/2022

Investment

Purchase

216844577

[redacted]

24593026

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Missing the lease agreements for the Subject property and the property located at xxxx. The lease agreement in the file for xxxx expired on 12/31/2020.

Reviewer Comment (2022-01-27): Cleared

Buyer Comment (2022-01-26): Subject Property: As per xxxx Guidelines, rental income can be confirmed via fair market rents from an Appraiser. Rental Value Appraisal report indicates this to be $xxx/mth (see Doc Ref # xxxxx. Rental income being used is $xxx/mth.

xxxx: The lease agreement in file for xxxx has an expired term, however, the rental agreement states that the tenancy continues on a month-to-month basis (see Doc Ref # xxxxx. Reducing rental income for this property to $xxx/month increases the stress TDSR slightly from xxx% to xxx%.

01/27/2022

Investment

Purchase

216844579

[redacted]

24562426

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Missing 2019 and 2020 W-2 for Borrower 1

Reviewer Comment (2022-01-27): Not required.

Buyer Comment (2022-01-27): As per xxxx guidelines, T4 (W-2) is not required for full time salaried employees if we are using the borrower's base salary.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844579

[redacted]

24612136

Credit

Miscellaneous

Guideline

Credit Exception:

Please provide the closing disclosure for proof of debt payoff.

Reviewer Comment (2022-01-27): Provided.

Buyer Comment (2022-01-27): Trust ledger confirming debt payoff has been uploaded.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844580

[redacted]

24563075

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

The statement is missing.

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-28): Please see Doc Ref # xxxxx for xxxx mortgage statement for xxxx. Please also see xxxx Doc Ref # xxxxx confirming borrower ownership of the property and xxxx as the mortgagee.

Reviewer Comment (2022-01-27): Doc ID is for xxxx. The mailing address is going to xxxx; however, it is not for xxxx.

Buyer Comment (2022-01-26): Mortgage statement for xxxx is in the file. Please see Doc Ref # xxxxx. Property tax statement is in file. Please see Doc Ref # xxxxx

01/28/2022

Investment

Refinance - Cash-out - Other

216844581

[redacted]

24563486

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Reviewer Comment (2022-01-27): Provided.

Buyer Comment (2022-01-27): Registered charge confirming xxxx lien found on Doc Ref # xxxxx and page xxx.

01/27/2022

Primary

Refinance - UTD

216844583

[redacted]

24562622

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Please provide the subject security instrument.

Reviewer Comment (2022-01-27): Provided

Buyer Comment (2022-01-25): Please see registered charge confirming xxxx lien Doc Ref # xxxxx.

01/27/2022

Primary

Purchase

216844583

[redacted]

24594185

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

Missing hazard insurance for subject

Reviewer Comment (2022-01-27): In file

Buyer Comment (2022-01-25): Insurance policy is in the file. Please see page xxxx.

01/27/2022

Primary

Purchase

216844583

[redacted]

24594481

Credit

Asset

Asset Documentation

Asset

Asset Issue: Gift funds are missing evidence of receipt

Lender exception on gifted portion coming from xxxx. Lender unable to reverse lookup provided numbers on gift letter.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Good income source

Owner

Owner

Owner,Originator

Reviewer Comment (2022-01-25): Comp factors used to waive exception.

01/25/2022

Primary

Purchase

216844584

[redacted]

24562452

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

power of attorney not provided

Reviewer Comment (2022-01-27): In file.

Buyer Comment (2022-01-27): Registered charge confirming xxxx lien found on page xxx and page xxxx.

01/27/2022

Investment

Refinance - UTD

216844584

[redacted]

24562485

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

T1/T4 not in file

Reviewer Comment (2022-01-27): Not required.

Buyer Comment (2022-01-27): As per xxxx Guidelines, T1 or T4 (W-2) is not required for full time salaried employees if we are using the borrower's base salary.

01/27/2022

Investment

Refinance - UTD

216844585

[redacted]

24562500

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Missing Fraud Report.

Reviewer Comment (2022-01-27): cleared

Buyer Comment (2022-01-26): Please see Property Report, page xxx

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844585

[redacted]

24562909

Credit

Missing Document

General

Missing Document

Missing Document: Identification Declaration not provided

Missing Identification Declaration.

Reviewer Comment (2022-01-27): In file.

Buyer Comment (2022-01-26): Please see Identification Declaration, page xxx, Doc Ref # xxxxx and xxxx.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844585

[redacted]

24562921

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Missing Security Instrument - Subject Lien.

Reviewer Comment (2022-01-27): In file.

Buyer Comment (2022-01-26): Please see registered charge confirming xxxx lien on page xxx.

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844585

[redacted]

24563204

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

Missing signed employment letter within 60 days of the application date.

Reviewer Comment (2022-01-28): Addressed.

Buyer Comment (2022-01-28): The employer is a xxxx. It is not uncommon for small employers such as this one to not have letterhead. The font for the hourly pay is different, however the Mortgage Officer verified that all the details of the LOE were correct during the employment verification call. We also have paystubs and T4 (W-2) showing income of $xxx. If we take that income out all together, we still have an acceptable TDS of xx%.

Reviewer Comment (2022-01-27): The guidelines indicate the Employment Letter must be presented on the employer's letterhead. Additionally, address the font difference for the hourly pay noted on the letter.

Buyer Comment (2022-01-26): Signed Employment Letter within 60 days of application date is in the file, please see page xxx.

01/28/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844585

[redacted]

24608704

Credit

Miscellaneous

Guideline

Credit Exception:

The Closing Disclosure was not provided.

Reviewer Comment (2022-01-27): Doc ID xxxx

Buyer Comment (2022-01-26): Please see Closing Disclosure, Doc Ref # xxxxx

01/27/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844586

[redacted]

24563378

Credit

Missing Document

General

Missing Document

One or more of your documents was not signed and dated by the borrower(s).

Provide signed/dated copy of Cost of Borrowing Disclosure Statement.

Reviewer Comment (2022-01-28): Provided.

Buyer Comment (2022-01-26): Cost of Borrowing uploaded.

01/28/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844586

[redacted]

24594229

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Missing Verification of Employment for xxxx

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-26): Verbal verification was completed with employer. Please see notes on Doc Ref # xxxxx page xx under "Employment Details"

01/28/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844586

[redacted]

24595848

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

The VVOE for xxxx is missing.

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-26): Verbal verification was completed with employer. Please see notes on Doc Ref # xxxxx page xx under "Employment Details"

01/28/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844587

[redacted]

24593827

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

The file was missing proof of the transfer of the $70k gifted funds into the client's xxxx account or confirmation funds were sent directly to solicitor.

Reviewer Comment (2022-01-31): Cleared

Buyer Comment (2022-01-31): The Stated Declaration from the applicants confirms that they received $xxx,xxx gifted funds from their mother (donor). Please see page xxx. The funds were then transferred to the solicitor by the applicants, see page xxxx.

01/31/2022

Primary

Purchase

216844589

[redacted]

24596832

Credit

Miscellaneous

Credit

Missing Document: Credit Payoff Statement(s) not provided

Missing proof the xxxx and xxxx accounts were paid off.

Reviewer Comment (2022-01-28): Provided.

Buyer Comment (2022-01-27): xxxx and xxxx balance were paid from the sale proceeds of the applicant's existing home. Please see final Trust Ledger uploaded.

Buyer Comment (2022-01-27): Final trust ledger uploaded.

01/28/2022

Primary

Purchase

216844590

[redacted]

24580383

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Security Instrument was not provided

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-26): Registered charge confirming xxxx lien found in Doc Ref #xxxx

01/28/2022

Primary

Purchase

216844590

[redacted]

24609055

Credit

Missing Document

General

Missing Document

Missing Document: Official Check not provided

The EMD check is missing.

Reviewer Comment (2022-01-28): Addressed.

Buyer Comment (2022-01-27): As per xxxx Guidelines cheque is not required. Confirmation of down payment from Solicitor has been uploaded.

Buyer Comment (2022-01-27): Confirmation of down payment.

01/28/2022

Primary

Purchase

216844590

[redacted]

24609144

Credit

Miscellaneous

Guideline

Credit Exception:

The Closing Disclosure was not provided.

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-26): Executed Closing Disclosure located at Doc Ref # xxxxx

01/28/2022

Primary

Purchase

216844592

[redacted]

24597005

Property

Property - Appraisal

General Appraisal Requirements

Property - Appraisal

The appraisal revealed property damage.

Comments missing for Ceiling water damage in the upstairs bedroom and basement bedroom and kitchen ceiling per photos appraiser took

Reviewer Comment (2022-01-28): Addressed, and no specific guideline requirement for damage.

Buyer Comment (2022-01-26): It is acknowledged that the UW did not comment on the water damage as shown on the report, however appraiser did indicate that the subject was still in average condition. At the time of the approval the LTV was xx.xx%. Based on this low LTV, the applicant could potentially access additional funds if necessary, in order to update the main floor and basement of the property.

01/28/2022

Primary

Refinance - UTD

216844592

[redacted]

24598163

Credit

Miscellaneous

Guideline

Credit Exception:

The loan documents have two different Notes (cost of Borrowing Disclosure Statements), with one dated xx/xx/xxxx and a loan amount of $xxx,xxx. And a second one dated xx/xx/xxxx with a loan amount of $xxx,xxx. Both are signed by the borrower.

Reviewer Comment (2022-01-28): Addressed.

Buyer Comment (2022-01-26): Original approval was for $xxx,xxx. Underwriter increased loan amount to $xxx,xxx due to a shortfall paying out existing mortgage and debts. Please see Doc Ref # xxxxx(page xx for UW's rationale for the increase and see Doc Ref # xxxxx(page xx for the approval for the increased loan amount.

01/28/2022

Primary

Refinance - UTD

216844593

[redacted]

24597209

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception to waive VVOE requirement, noted on approval.

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Comp factors used to waive exception.

Owner

Owner,Originator

Reviewer Comment (2022-01-25): Lender granted exception noted on approval.

01/25/2022

Investment

Refinance - Cash-out - Other

216844594

[redacted]

24596878

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

The file was missing a copy of the complete mortgage statement to determine the P&I payment for xxxx

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-27): Please see xxxx Home Equity Line of Credit statement, page xxx, Doc Ref # xxxxx and cross reference account number to xxxx statement, page xxx, Doc Ref # xxxxxto confirm property address.

01/28/2022

Investment

Purchase

216844594

[redacted]

24685859

Credit

Miscellaneous

Guideline

Credit Exception:

Property Condition is Fair per appraisal

Borrower has worked in the same position for more than 3 years.

Lender exception on approval, with comp factors listed.

Owner,Originator

Reviewer Comment (2022-02-03): Waived

Reviewer Comment (2022-02-02): Property Condition is Fair per appraisal

02/03/2022

Investment

Purchase

216844595

[redacted]

24597571

Property

Property - Appraisal

Appraisal Reconciliation

Property - Appraisal

Appraisal is required to be in name of Lender

Missing appraisal transfer letter to HomeTrust.

Reviewer Comment (2022-01-28): See Extraordinary items addendum on appraisal.

Buyer Comment (2022-01-26): Appraisal uploaded.

01/28/2022

Primary

Refinance - UTD

216844597

[redacted]

24565270

Credit

Miscellaneous

Guideline

Credit Exception:

xxxx: Statement end date is 08/31/2021 and account printout starts on 09/07/2021. Provide account history for interim dates.

Reviewer Comment (2022-01-28): Addressed

Buyer Comment (2022-01-27): Statements for xxxx account xxxx from xxx- xxxx not required to verify down payment. The main source of the down payment is from the refinance of 2 properties: xxxx and xxxx.

The refinance from xxxx was funded on xx/xx/xxxx with xxxx (Mortgage Statement Doc Ref # xxxxx page xxx) and the proceeds of $xxx,xxx were transferred into xxxx account # xxxx on xx/xx/xxxx (Bank statements located at Doc Ref # xxxx page xxx). On xx/xx/xxxx we can see the client transferred $xxx,xxx from account #xxxx to xxxx account #xxxx (Bank statements located at Doc Ref # xxxxx-xxxx page xxx). 90 Days of account #xxxx on file, balance as of xx/xx/xxxx was $xxx,xxx

The refinance of xxxx advanced xx/xx/xxxx with xxxx (Mortgage statement Doc Ref # xxxxx and xxxx page xxx) the proceeds of $xxx,xxx were deposited into xxxx account #xxxx on xx/xx/xxxx (Bank statements located at Doc Ref # xxxxx page xxx) Balance as of xx/xx/xxxx was $xxx,xxx.

Balance in xxxx #xxxx $xxx,xxx PLUS Balance in xxxx # xxxx $xxx,xxx = $xxx,xxx this is enough to satisfy the remainder of the down payment ($xxx,xxx less $xxx,xxx deposit = $xxx,xxx)

01/28/2022

Investment

Purchase

216844597

[redacted]

24565321

Credit

Miscellaneous

Guideline

Credit Exception:

xxxx: Provide statement covering 06/27/2021 - 07/26/2021.

Reviewer Comment (2022-01-28): Addressed

Buyer Comment (2022-01-26): xxxx account # xxxx had a balance as of September 7 of $xxx,xxx (Doc Ref # xxxxx page xxx). These statements were provided to confirm deposit of the funds from the refinance of xxxx, which were deposited on xx/xx/xxxx (See Doc Ref # xxxxx and xxxx page xxx). History prior to the deposit was not required.

01/28/2022

Investment

Purchase

216844597

[redacted]

24565414

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

xxxx: Statement end date is 08/31/2021 and account printout starts on 09/07/2021. Provide account history for interim dates evidencing withdrawal of EMD funds. xxxx: Provide documentation supporting proceeds of $xxx,xxx on xx/xx/xxxx from refinance of xxxx.

Reviewer Comment (2022-01-28): Addressed

Buyer Comment (2022-01-26): Please see Doc Ref # xxxxxxx page xxx for documentation for xxxx account #xxxx. This statement was provided to confirm the deposit of $xxx,xxx to this account from the refinance of the applicant's existing property xxxx. Please see current xxxx mortgage statement (Doc Ref # xxxxx page xxx) which confirms the current mortgage began xx/xx/xxxx. In xxxx account #xxxx we can see client transfer $xxx,xxx on xx/xx/xxxx, these funds went into xxxx account # xxxx on xx/xx/xxxx (Doc Ref # xxxxx page xxx). There is also a letter provided by xxxx to confirm the refinance transaction and date see Doc Ref # xxxxx page xxx.

01/28/2022

Investment

Purchase

216844598

[redacted]

24564839

Credit

System

General

Appraisal Reconciliation

Valuation address does not match Note address.

Verified property address variance on appraisal.

Reviewer Comment (2022-01-28): Addressed

Buyer Comment (2022-01-26): Address listed on the appraisal is xxxx (Doc Ref # xxxxx). This matches the address listed on the Credit Approval Form (Doc Ref # xxxxx).

01/28/2022

Investment

Refinance - UTD

216844598

[redacted]

24564842

Credit

Insurance

Insurance Analysis

Insurance

Insurance address does not match Note address.

Verified property address variance.

Reviewer Comment (2022-01-28): Addressed

Buyer Comment (2022-01-26): Certificate of insurance is located in the file (Doc Ref # xxxxx). The insurance condo binder will not always contain a unit number. As long as the address is correct, the insurance condo binder covers the whole building.

01/28/2022

Investment

Refinance - UTD

216844598

[redacted]

24565262

Credit

Asset

Asset Documentation

Asset

Assets Error: Borrower was not provided

Borrower's name is not on bank statement.

Reviewer Comment (2022-01-28): Addressed

Buyer Comment (2022-01-26): xxxx acct #xxxx is the client's business account (xxxx) Articles of Incorporation and Business License are in file to confirm ownership (see page xxx and Doc Ref # xxxxx.

01/28/2022

Investment

Refinance - UTD

216844599

[redacted]

24598021

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Reviewer Comment (2022-01-28): Cleared

Buyer Comment (2022-01-26): Loan was approved by the appropriate authority level. As per xxxx Guidelines the maximum LTV is 80% of the first $1.5 million in the xxxx (property is located in xxxx, which is part of the xxxx).

01/28/2022

Investment

Purchase

216844600

[redacted]

24566703

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Missing Security Instrument - Subject Lien.

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-27): Registered charge confirming xxxx lien found on Doc Ref # xxxxx

01/28/2022

Investment

Refinance - UTD

216844600

[redacted]

24567018

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

Missing mortgage statement.

Reviewer Comment (2022-01-28): All documents provided.

Buyer Comment (2022-01-28): xxxx:
Mortgage statement can be found in file, please see Doc Ref # xxxxx Lease is not applicable as we are not using rental income on this file.

xxxx:
Mortgage statement can be found on page xxx #xxxx
Lease can be found on page xxx #xxxx

xxxx:
Mortgage statement can be found on page xxx & xxx #xxxx & xxxx
Lease can be found on page xxx #xxxx

xxxx:
Mortgage statement can be found on page xxx #xxxx
Lease can be found on page xxx #xxxx - #xxxx

xxxx is also the first mortgagee on xxxx. Commitment letter and Appraisal to confirm Fair Market Rent have been uploaded.

Buyer Comment (2022-01-28): Commitment Letter and Fair Market Rent for xxxx uploaded.

01/28/2022

Investment

Refinance - UTD

216844601

[redacted]

24600311

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception: Refinance within the last 18 months, with comp factors listed on approval.

Borrower has worked in the same position for more than 3 years.

Lender exception approved, comp factors listed on approval.

Owner,Originator

Reviewer Comment (2022-01-25): Lender exception approved, comp factors listed on approval.

01/25/2022

Primary

Refinance - UTD

216844601

[redacted]

24600362

Credit

Miscellaneous

Guideline

Credit Exception:

Missing trust ledger or other documentation to verify debts marked on credit application and/or on closing instructions were paid from the loan proceeds. Unable to reconcile TDSR.

Reviewer Comment (2022-01-28): Provided.

Buyer Comment (2022-01-26): Please see Doc Ref # xxxxx(page xxx) for confirmation that xxxx has been paid in full. Confirmation that student loan has been paid out has been uploaded.

Buyer Comment (2022-01-26): Confirmation of student loan payout uploaded.

01/28/2022

Primary

Refinance - UTD

216844602

[redacted]

24566556

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Missing lease agreement.

Reviewer Comment (2022-01-28): cleared

Buyer Comment (2022-01-26): As per xxxx's Guidelines rental income can be confirmed via fair market rents. The appraiser reported that Fair Market Rent for the subject property ranges from $xxx to $xxx. UW elected to use the lower amount of $xxx. Details found in appraisal report in Doc Ref #xxxx.

01/28/2022

Investment

Refinance - UTD

216844602

[redacted]

24566718

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

There are multiple copies of the Note/Cost of Borrowing Disclosure Statement. The signed copy has a loan amount of $xxx,xxx, dated xx/xx/xxxx. However, the other copy is not signed, has a loan amount of $xxx,xxx and dated xx/xx/xxxx. The loan approval indicated the loan amount was decreased. Provide clarification and signed copy of the correct Note/cost of Borrowing Disclosure Statement.

Reviewer Comment (2022-01-28): Discrepancy addressed.

Buyer Comment (2022-01-26): Original approval was for $xxx,xxx. UW decreased loan amount to $xxx,xxx due to the appraised value coming in light. Please see Doc Ref # xxxxx(page xx) for Director approval for xx% LTV. Revised commitment letter has been uploaded.

Buyer Comment (2022-01-26): Executed commitment letter uploaded.

01/28/2022

Investment

Refinance - UTD

216844602

[redacted]

24599685

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception on approval: Refinance within last 18 months, comp factors noted on approval.

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Lender exception approval in file.

Owner

Owner,Originator

Reviewer Comment (2022-01-25): Lender exception approval in file.

01/25/2022

Investment

Refinance - UTD

216844602

[redacted]

24599762

Credit

Miscellaneous

Guideline

Credit Exception:

Missing the trust ledger or other document used to verify the debts marked to be paid on the credit application were paid off with the loan proceeds. Unable to reconcile TDSR.

Reviewer Comment (2022-02-02): Cleared

Buyer Comment (2022-02-01): Proof all debts have been paid off as conditioned by the underwriter has been uploaded.

02/02/2022

Investment

Refinance - UTD

216844603

[redacted]

24598211

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Issue: Refinance seasoning requirements not met

Refinancing within 18 months. Subject did refi'd in xx/xx/xxxx for LTV 80% cashout refinance.

Borrower has worked in the same position for more than 3 years.

stable income

Owner,Originator

Reviewer Comment (2022-01-28): Lender exception, comp factors noted on approval.

Buyer Comment (2022-01-26): Exception to proceed with a Refinance within 18 months was approved by the appropriate authority level. As per xxxx Guidelines, this exception can be approved by the Credit Adjudication Team (CAT). Please see the approval note (page xx Doc Ref # xxxxx from xxxx.

01/28/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844605

[redacted]

24567334

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Stated income declaration not provided for co-borrower.

Reviewer Comment (2022-01-28): Income documents provided.

Buyer Comment (2022-01-26): Co Borrower xxxx is xxxx, as such a Stated Income Declaration is not required. Please see Doc Ref # xxxxx for a copy of the Business license. Remaining documents (NOAs and T1 Generals) have been uploaded.

Buyer Comment (2022-01-26): Income docs uploaded.

01/28/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844605

[redacted]

24599583

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception: Refinance within 18 months, comp factors noted on approval.

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

Borrower has worked in the same position for more than 3 years.

Lender exception approved.

Owner

Owner,Originator

Reviewer Comment (2022-01-25): Lender exception approved.

01/25/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844607

[redacted]

24599974

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception to waive VVOE requirement for both sources of employment.

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Comp factors noted on approval for lender exception approval.

Owner

Owner,Originator

Reviewer Comment (2022-01-25): Lender exception granted, comp factors noted on approval.

01/25/2022

Investment

Refinance - Cash-out - Debt Consolidation

216844609

[redacted]

24568826

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

Provide source of funds for $xxx,xxx deposit to solicitor.

Reviewer Comment (2022-01-28): Cleared.

Buyer Comment (2022-01-27): As per xxxx Guidelines source of initial deposit is not require for deposits less that $50,000.

01/28/2022

Primary

Purchase

216844609

[redacted]

24610737

Credit

Miscellaneous

Guideline

Credit Exception:

The sales price exceeds 15% of the listing price.

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Lender granted exception approval in the loan file.

Owner

Owner

Owner,Originator

Reviewer Comment (2022-01-26): Lender approved exception.

01/26/2022

Primary

Purchase

216844612

[redacted]

24615291

Credit

Miscellaneous

Guideline

Credit Exception:

Refinance occurred within the last 18 months.

Borrower has verified disposable income of at least $2500.00.

Lender granted exception approval in the loan file.

Owner,Originator

Reviewer Comment (2022-01-27): Lender approved exception. LTV is low at xx% and TDS is low at xx.xx%. Client has good credit and repayment history. Client's mother purchased property xx/xx due to client's age. Now that client is older they want to transfer the property to her name.

01/27/2022

Investment

Refinance - UTD

216844613

[redacted]

24600675

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

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

Borrower has verified disposable income of at least $2500.00.

Lender approval, comp factors listed on approval.

Owner,Originator

Reviewer Comment (2022-01-28): Lender approval, comp factors listed on approval.

Buyer Comment (2022-01-26): Loan was approved by the appropriate authority level. As per xxxx Guidelines the maximum LTV is 80% of the first $1.5 million in the xxxx (property is located in xxxx, which is part of the xxxx).

01/28/2022

Investment

Purchase

216844618

[redacted]

24611708

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception: Purchase price > 15% of listing price. Comp factors noted on approval.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Lender exception: Purchase price > 15% of listing price. Comp factors noted on approval.

Owner,Originator

Reviewer Comment (2022-01-26): Lender exception: Purchase price > 15% of listing price. Comp factors noted on approval.

01/26/2022

Investment

Purchase

216844619

[redacted]

24607102

Credit

Miscellaneous

Guideline

Credit Exception:

The gifted down payment is over $xxx,xxx and it is from the borrower's sister. The approval states an approval from the Director is required but it is not clear if this has been approved.

Borrower has verified disposable income of at least $2500.00.

Lender granted exception approval in the loan file.

Owner,Originator

Reviewer Comment (2022-01-28): Lender exception, comp factors noted on approval.

Buyer Comment (2022-01-26): Exception to proceed with Gifted Funds over $xxx,xxx was approved by the appropriate authority level. As per xxxx Guidelines, this exception can be approved by a Director or above. Please see the approval note (page xx Doc Ref # xxxxx from Director, xxxx.

01/28/2022

Investment

Purchase

216844620

[redacted]

24605007

Credit

Miscellaneous

Guideline

Credit Exception:

Rate exception 1 year at xx%.

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

Borrower has verified disposable income of at least $2500.00.

Lender granted exception approval in the loan file.

Owner

Owner,Originator

Reviewer Comment (2022-01-26): Comp factors used: Client refinancing to consolidate debts, good income and credit, low LTVs ratios

01/26/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844621

[redacted]

24603045

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

The file was missing a minimum of 6 months bank statements as required per Lender Guidelines.

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-27): Please see 6 months xxxx bank statements (May-Oct), page xxx, Doc Ref # xxxxx. Please note the applicant does not have a business account. She deposits all of the funds into her personal account.

01/28/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844621

[redacted]

24611743

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception: Refinance within 18 months, comp factors noted on approval.

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Lender exception: Refinance within 18 months, comp factors noted on approval.

Owner

Owner,Originator

Reviewer Comment (2022-01-26): Lender exception: Refinance within 18 months, comp factors noted on approval.

01/26/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844622

[redacted]

24573330

Credit

Missing Document

General

Missing Document

Missing Document: Donor Check not provided

Gift funds were included for closing funds. Missing documentation showing gifted funds transferred to the applicant.

Reviewer Comment (2022-01-28): Cleared

Buyer Comment (2022-01-26): Donor check not required. Gifted funds were deposited directly into xxxx bank account on xx/xx ($xxx,xxx), Nov 8th ($xxx,xxx) and xx/xx ($xxx,xxx). Please see Doc Ref # xxxxx

01/28/2022

Primary

Purchase

216844622

[redacted]

24609371

Credit

Miscellaneous

Guideline

Credit Exception:

The Closing Disclosure was not provided.

Reviewer Comment (2022-01-28): Cleared

Buyer Comment (2022-01-26): Please see Closing Disclosure, Doc Ref # xxxxx

01/28/2022

Primary

Purchase

216844623

[redacted]

24604084

Credit

Miscellaneous

Guideline

Credit Exception:

The purchase price is 15.4% over the asking price. This exceeds the guideline limit of 15% of the listing price.

Borrower has verified disposable income of at least $2500.00.

Lender granted exception approval in the loan file.

Owner,Originator

Reviewer Comment (2022-01-26): Rationale for exception approval: Strong credit score, xx% stressed TDS, applicant earning stable FT and replaceable income as an RN, marketable core xxxx property.

01/26/2022

Investment

Purchase

216844624

[redacted]

24612028

Credit

Miscellaneous

Guideline

Credit Exception:

Refinance occurred within the last 18 months.

Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Lender approved exception.

Owner

Owner,Originator

Reviewer Comment (2022-01-26): Lender approved exception.

01/26/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844625

[redacted]

24575776

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

VVOE - Employment Only, W-2 Missing from file

Borrower has been employed in the same industry for more than 5 years.

Lender granted exception approval in the loan file.

Owner,Originator

Reviewer Comment (2022-01-28): Lender exception, comp factors listed on approval.

Buyer Comment (2022-01-26): As per xxxx Guidelines, the UW can waive the verbal verification (VVOE) provided they document their rationale. Please see Doc Ref # xxxxx(page xx for UW's rationale for waiving. Please see page xxx for borrower's 2019 and 2020 T4s (W-2).

01/28/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844625

[redacted]

24605470

Credit

Miscellaneous

Guideline

Credit Exception:

The borrower refinanced the subject property within 18 months. Lender approved exception.

Borrower has verified disposable income of at least $2500.00.

Borrower has been employed in the same industry for more than 5 years.

Lender granted exception approval in the loan file.

Owner

Owner,Originator

Reviewer Comment (2022-01-26): Lender used comp factors used to waive exception: stable confirmable income, decent credit, marketable property and overall savings to clients.

01/26/2022

Primary

Refinance - Cash-out - Debt Consolidation

216844626

[redacted]

24603296

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

The file was missing copies of the second Mortgage Statement, Lease Agreement and HOA verification for the Borrowers' departure home.

**NOTE; eMail located in Other states lease is "attached"; however, not provided.

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-27): HELOC statement located at Doc Ref # xxxxx and xxxx page xxx. Mortgage statement located at Doc Ref # xxxxx Property tax statement located at Doc Ref # xxxxx and xxxx. Lease agreement located at page xxx.

01/28/2022

Primary

Purchase

216844628

[redacted]

24577379

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Missing Security Instrument

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-26): Registered charge confirming xxxx lien found on page xxx.

01/28/2022

Primary

Refinance - UTD

216844628

[redacted]

24577654

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___
___

Missing employer letter.

Reviewer Comment (2022-01-28): Income for current source of employment sufficiently verified.

Buyer Comment (2022-01-27): Please see Doc Ref # xxxxx and #xxxx for letters of employment. Paystubs can be found under Doc Ref # xxxxx and #xxxx.

01/28/2022

Primary

Refinance - UTD

216844628

[redacted]

24610406

Credit

Miscellaneous

Guideline

Credit Exception:

Subject property was refinanced within 18 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.

Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Lender granted exception approval in the loan file.

Owner

Owner

Owner,Originator

Reviewer Comment (2022-01-26): CAT approved exception.

01/26/2022

Primary

Refinance - UTD

216844630

[redacted]

24604765

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Reviewer Comment (2022-01-28): Cleared

Buyer Comment (2022-01-26): Tenant acknowledgement for xxxx and xxxx are found on page xxxx and xxx. Certificate of Insurance not required for non subject properties.

01/28/2022

Primary

Purchase

216844631

[redacted]

24606356

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Lender approved exception.

Owner

Owner,Originator

Reviewer Comment (2022-01-28): Paystub in file. Lender exception for VVOE requirement, comp factors noted on approval.

Buyer Comment (2022-01-27): Please see Doc Ref # xxxxx or Letter of Employment for xxxx and #xxxx for paystub. Client works overseas and income was converted into Canadian funds. As per xxxx Guidelines, the Underwriter can waive the verbal verification (VVOE) provided they document their rationale. Please see Underwriter's rationale for waiving the call on page xx of the Credit Approval Form (Doc Ref. #xxxx).

01/28/2022

Investment

Refinance - Rate/Term

216844631

[redacted]

24606362

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Reviewer Comment (2022-01-28): See updated exception for remaining missing REO documents.

Buyer Comment (2022-01-27): xxxx: Lease agreement in file. Please see Doc Ref # xxxxx Tax Statement in file. Please see Doc Ref # xxxxx
xxxx: Lease agreement in file. Please see Doc Ref # xxxxx Tax statement in file. Please see Doc Ref # xxxxx
xxxx: Lease agreement not applicable as no rental income is being used for this property. Tax statement in file. Please see Doc Ref #xxxx

01/28/2022

Investment

Refinance - Rate/Term

216844631

[redacted]

24611843

Credit

Miscellaneous

Guideline

Credit Exception:

Refinance within 18 months.

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

Lender approved exception.

Owner

Owner,Originator

Reviewer Comment (2022-01-26): Lender approved exception.

01/26/2022

Investment

Refinance - Rate/Term

216844631

[redacted]

24649742

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Still missing both mortgage statements for xxxx.

Reviewer Comment (2022-01-31): Provided

Buyer Comment (2022-01-31): xxxx statement uploaded.

Buyer Comment (2022-01-31): Statements for xxxx uploaded.

01/31/2022

Investment

Refinance - Rate/Term

216844632

[redacted]

24578873

Credit

Asset

Asset Documentation

Asset

Assets Error: Borrower was not provided

Account name not provided on business statement account

Reviewer Comment (2022-01-31): Clarification provided.

Buyer Comment (2022-01-27): xxxx acct #xxxx is under numbered company xxxx. Federal corporate profile is in file to confirm ownership. Please see Doc Ref # xxxxx(page xxx) for Articles of Incorporation.

01/31/2022

Primary

Refinance - UTD

216844632

[redacted]

24579403

Property

Property - Appraisal

General Appraisal Requirements

Property - Appraisal

The transaction closed as a refinance of a primary residence, and the valuation reflects that the subject property is vacant. Unable to verify occupancy.

Per appraisal unit is being cleaned and readied for delivery, appraisal reflects the property is vacant.

Reviewer Comment (2022-01-31): Addressed.

Buyer Comment (2022-01-26): Subject is a recently rebuilt fourplex, and as per appraisal is currently vacant. Please see UW note on Doc Ref # xxxxx page xxstating that the subject will be a rental.

01/31/2022

Primary

Refinance - UTD

216844632

[redacted]

24579551

Credit

Guideline

Guideline Issue

Guideline

Borrower has been on current job less than 2 years, and prior employment history was not documented as required.

The employment start date is xx/xx/xxxx, no previous employment provided.

Reviewer Comment (2022-01-31): Cleared

Buyer Comment (2022-01-26): xxxx's Guidelines require the Underwriter to document prior employment history if the borrower has been self employed for less than 2 years. This borrower is full time salaried.

01/31/2022

Primary

Refinance - UTD

216844632

[redacted]

24580276

Property

Guideline

Guideline Issue

Guideline

Guidelines require an appraisal and site inspection if the aggregated loan amount is greater than $1,000,000.00 and the LTV is greater than 65% .

Original Loan Amount: ___
Other Financing Loan Amount: ___
LTV: ___ CLTV: ___

Combined lien amounts are greater than $xxx,xxx and LTV/CLTV is greater than 65%,an appraisal and site inspection is required per guidelines.

Reviewer Comment (2022-01-31): Cleared

Buyer Comment (2022-01-27): xxxx's Guidelines do not require a site inspection. This requirement was removed in 2019.

01/31/2022

Primary

Refinance - UTD

216844632

[redacted]

24606488

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Bank Statements missing as the UW used for Employment verification.

Reviewer Comment (2022-01-31): Cleared

Buyer Comment (2022-01-27): Please see page xxx for bank statements showing income from employer deposited into the borrower's account.

01/31/2022

Primary

Refinance - UTD

216844632

[redacted]

24606581

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Missing the Mortgage statement.

Reviewer Comment (2022-01-31): Cleared

Buyer Comment (2022-01-27): Please see Doc Ref # xxxxx for mortgage statement on xxxx. Federal corporate profile has been uploaded to confirm ownership.

Buyer Comment (2022-01-27): Corporate profile search uploaded.

01/31/2022

Primary

Refinance - UTD

216844632

[redacted]

24609859

Credit

Miscellaneous

Guideline

Credit Exception:

There was a refinance within 18 months of the subject transaction.

Borrower has verified disposable income of at least $2500.00.

Borrower has worked in the same position for more than 3 years.

Lender granted exception approval in the loan file.

Owner

Owner,Originator

Reviewer Comment (2022-01-26): Lender granted exception approval in the loan file.

01/26/2022

Primary

Refinance - UTD

216844633

[redacted]

24578089

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

Missing HOA verification document in the loan file.

Reviewer Comment (2022-01-31): Cleared

Buyer Comment (2022-01-27): Verification of condo fees for xxxx located on application (see Doc Ref # xxxxx, page xx). Verification of condo fees for xxxx located on appraisal report (see Doc Ref # xxxxx page xxx) and also confirmed on MLS listing (see page xxx).

01/31/2022

Investment

Purchase

216844633

[redacted]

24578491

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

Asset documentation provided is less than 2 months verified.

Reviewer Comment (2022-01-31): Addressed.

Buyer Comment (2022-01-27): xxxx chequing account #xxxx had a balance of $xxx,xxx (xxxx, page xxx) as of November 10 2021; 90 days history is not required for this account as funds were transferred INTO the account from other sources.

Source of large deposits is as follows:

$xxx,xxx on xxxx - from xxxx account# xxxx. Statement provided to confirm receipt of gift of $xxx,xxx (do not need 90 days) (xxxx page xxx)

$xxx,xxx on xxxx - from xxxx investment account, 90 days on file (xxxx page xxx)

$xxx,xxx on xxxx - from xxxx investment account, 90 days on file (xxxx page xxx)

Please note that account history for xxxx is not required as funds from this account were not used for the down payment.

01/31/2022

Investment

Purchase

216844634

[redacted]

24577530

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Reviewer Comment (2022-01-31): In file

Buyer Comment (2022-01-26): Registered charge confirming xxxx lien found in Doc Ref # xxxxx.

01/31/2022

Primary

Purchase

216844634

[redacted]

24577542

Credit

Missing Document

General

Missing Document

Missing Document: Bank Statements - Personal not provided

Reviewer Comment (2022-01-31): Addressed.

Buyer Comment (2022-01-27): Personal statements not required. Client has provided 6 months of xxxx business bank statements account #xxxx (see Doc Ref # xxxxx page xxx).

01/31/2022

Primary

Purchase

216844635

[redacted]

24579539

Credit

Missing Document

General

Missing Document

Missing Document: Official Check not provided

Earnest money deposit in the amount of $xxx,xxx is missing from the file.

Reviewer Comment (2022-01-31): Addressed.

Buyer Comment (2022-01-26): As per xxxx Guidelines, deposits must only be sourced if greater than $50,000. The deposit is $xxx.

01/31/2022

Primary

Purchase

216844637

[redacted]

24580588

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

lender to provide

Reviewer Comment (2022-01-31): In file

Buyer Comment (2022-01-26): Registered charge confirming xxxx lien found in Doc Ref # xxxxx and xxxx (dupe).

01/31/2022

Investment

Refinance - Cash-out - Debt Consolidation

216844637

[redacted]

24580781

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Provide documentation that documents annual income of $xxx,xxx as stated on the approval.

Reviewer Comment (2022-01-31): Addressed.

Buyer Comment (2022-01-27): Please see page xx of the Credit Approval Form (Doc Ref # xxxxx for the Underwriter explanation of income. The Underwriter used the 2yr average income of $xxx,xxx from the T4s and subtracted expenses of $xxx,xxx arriving at net income of $xxx,xxx. The Underwriter noted that the client had not included an advertising expense on the SDL, and that they had further reduced the net income to $xxx,xxx to include this expense. Please see Doc Ref # xxxxxnd #xxxx for T4 income. Please see Doc Ref # xxxxx or expenses on the self declared form.

01/31/2022

Investment

Refinance - Cash-out - Debt Consolidation

216844638

[redacted]

24579268

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Missing W-2.

Reviewer Comment (2022-01-31): Not required

Buyer Comment (2022-01-27): As per xxxx Guidelines, T4 (W-2) is not required for full time salaried employees if we are using the borrower's base salary.

01/31/2022

Primary

Purchase

216844638

[redacted]

24580991

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Missing the security instrument.

Reviewer Comment (2022-01-31): In file

Buyer Comment (2022-01-27): Registered charge confirming xxxx lien found on Doc Ref # xxxxx.

01/31/2022

Primary

Purchase

216844638

[redacted]

24612087

Credit

Miscellaneous

Guideline

Credit Exception:

Sale price exceeds 15% of the listing price.

Lender approved exception.

Owner

Owner

Owner,Originator

Reviewer Comment (2022-01-26): Lender approved exception.

01/26/2022

Primary

Purchase

216844639

[redacted]

24523529

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

Missing the Gift fund deposit verifications and source bank accounts for both Gifts in the amounts of $xxx,xxx AND $xxx,xxx.

Reviewer Comment (2022-01-20): Clarification provided.

Buyer Comment (2022-01-19): Deal was originally submitted as a private sale purchase, however UW reviewed the deal and confirmed that it should have been submitted as a refinance - title transfer. As a result there is no down payment to verify. Please see UW notes in CAF, Doc Ref # xxxxx page xx and xx.

01/20/2022

Primary

Refinance - Rate/Term

216844639

[redacted]

24523530

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

Missing the Gift fund deposit verifications and source bank accounts for both Gifts in the amounts of $xxx,xxx AND $xxx,xxx.

01/20/2022

Primary

Refinance - Rate/Term

216844640

[redacted]

24581068

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Missing Security Instrument - Subject Lien.

Reviewer Comment (2022-01-31): In file

Buyer Comment (2022-01-26): Please see registered charge confirming xxxx lien page xxx.

01/31/2022

Primary

Purchase

216844641

[redacted]

24582100

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

The file is missing a copy of the 2nd mortgage (HELOC) statement for the primary residence, or equivalent to confirm the monthly payment after the most recent draw.

Reviewer Comment (2022-01-31): In file

Buyer Comment (2022-01-27): Please see xxxx HELOC statement confirming interest rate of xx%, (page xxx, Doc Ref # xxxxx and updated statement confirming current balance of $xxx,xxx as of Nov 15th (page xxx, Doc Ref # xxxxx. Applicants used $xxx,xxx from HELOC towards down payment + existing balance $xxx,xxx = $xxx,xxx x xx% / 12 = $xxx/mth. Please see page xx .of Credit Approval Form (Doc Ref # xxxxx.

01/31/2022

Investment

Purchase

216844641

[redacted]

24614845

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception: Purchase price over 15% of listing price, comp factors noted on approval.

Owner

Owner

Owner,Originator

Reviewer Comment (2022-01-27): Lender exception: Purchase price over 15% of listing price, comp factors noted on approval.

01/27/2022

Investment

Purchase

216844642

[redacted]

24580305

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

Reviewer Comment (2022-01-31): In file

Buyer Comment (2022-01-26): Please see binder of insurance, Doc Ref # xxxxx

01/31/2022

Investment

Refinance - UTD

216844642

[redacted]

24580519

Credit

Missing Document

General

Missing Document

Missing Document: Identification Declaration not provided

Reviewer Comment (2022-01-31): Provided

Buyer Comment (2022-01-26): Identification Declaration uploaded.

01/31/2022

Investment

Refinance - UTD

216844642

[redacted]

24580680

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

Missing Income Docs in file.

Reviewer Comment (2022-01-31): Addressed

Buyer Comment (2022-01-26): As per xxxx Guidelines, bank statements confirming pay deposits is not a requirement, but rather a best practice if additional due diligence is required. The applicant is employed by xxxx which is a very well known employer.

01/31/2022

Investment

Refinance - UTD

216844643

[redacted]

24607261

Credit

Missing Document

General

Missing Document

Missing Document: Desk Review not provided

Missing AVM/Desk review

Reviewer Comment (2022-01-31): Not required

Buyer Comment (2022-01-27): Appraisal for subject property can be found on page xxx (Doc Ref # xxxxx.

01/31/2022

Primary

Refinance - UTD

216844643

[redacted]

24610593

Credit

Miscellaneous

Guideline

Credit Exception:

Subject was refinanced within 18 months.

Borrower has worked in the same position for more than 3 years.

Borrower has verified disposable income of at least $2500.00.

Borrower has been employed in the same industry for more than 5 years.

Lender granted exception approval in the loan file.

Owner

Owner

Owner,Originator

Reviewer Comment (2022-01-26): Lender approved exception.

01/26/2022

Primary

Refinance - UTD

216844644

[redacted]

24582283

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

T4 was not found in file.

Reviewer Comment (2022-01-31): In file

Buyer Comment (2022-01-27): Applicant receives ODSP (disability pension) and does not receive a T4 (W-2). They receive a T5007. Please see 2019 and 2020 T5007 on page xxx and page xxx (Doc Ref # xxxxx.

01/31/2022

Primary

Purchase

216844644

[redacted]

24611911

Credit

Miscellaneous

Guideline

Credit Exception:

The sales price exceeds 15% of the listing price.

Lender approved exception.

Owner

Owner

Owner,Originator

Reviewer Comment (2022-01-26): Lender approved exception.

01/26/2022

Primary

Purchase

216844646

[redacted]

24607971

Credit

Credit Documentation

Guideline

Missing Document: Asset not provided

The file was missing evidence for the $xxx,xxx HELOC withdrawal reflected on the application

Reviewer Comment (2022-01-31): Addressed

Buyer Comment (2022-01-27): $xxx,xxx was used towards down payment which came from xxxx HELOC, Doc Ref # xxxxx Confirmation of payment calculation can be found on Doc Ref # xxxxx which was added into the applicant's monthly liability payments, (see page xx, Doc Ref # xxxxx. The solicitor has confirmed that they received the total down payment (see page xx, Doc Ref # xxxxx.

01/31/2022

Primary

Purchase

216844647

[redacted]

24549078

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Reviewer Comment (2022-01-31): Addressed

Buyer Comment (2022-01-26): The subject property is owner occupied, as such verification of rent is not applicable. The purpose of the loan was to refinance an existing xxxx 1st mortgage. Please see Doc Ref # xxxxx for the xxxx discharge statement.

01/31/2022

Primary

Refinance - UTD

216844647

[redacted]

24549607

Credit

Income

Document Error

Income

YTD Date is dated more than 90 days before the application date.

The borrower's paystub is more than 30 days old and the co-borrower's paystub is more than 90 days old. Lender approved exception.

Borrower has worked in the same position for more than 3 years.

Borrower has been employed in the same industry for more than 5 years.

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

Lender granted exception approval in the loan file.

Owner

Owner

Owner,Originator

Reviewer Comment (2022-01-25): Comp factors used to waive exception.

01/25/2022

Primary

Refinance - UTD

216844647

[redacted]

24573811

Credit

Miscellaneous

Guideline

Credit Exception:

Missing Signed Note/Cost of Borrower Disclosure Statement with the correct loan amount of $xxx,xxx.

Reviewer Comment (2022-01-31): Provided

Buyer Comment (2022-01-26): Please see Doc Ref # xxxxx for Cost of Borrowing Disclosure Statement reflecting $500,000. Signed note (mortgage commitment) reflecting new loan amount has been uploaded.

Buyer Comment (2022-01-26): Commitment letter uploaded.

01/31/2022

Primary

Refinance - UTD

216844647

[redacted]

24577446

Credit

Miscellaneous

Guideline

Credit Exception:

Please provide clarification for the loan amount discrepancies. The loan approval states two different loan amounts as approved (in the approval notes section) and the signed copy of note in file has the loan amount of $xxx,xxx which differs from tape, and the unsigned note has the loan amount of $xxx,xxx. Please provide clarification and additionally if the loan amount is $xxx,xxx, please provide the signed Note.

Reviewer Comment (2022-01-31): Addressed.

Buyer Comment (2022-01-26): Original approval was for $xxx,xxx. Underwriter increased approval to $xxx,xxx to include the payout of CRA taxes. Please see Doc Ref # xxxxx(page xxx) for UW Manager rationale for the increase in mortgage along with the approval. Signed note (mortgage commitment) has been uploaded.

01/31/2022

Primary

Refinance - UTD

216844648

[redacted]

24561457

Compliance

Loan Package Documentation

Application / Processing

Missing, Incorrect, or Incomplete Final or Initial 1003

Missing Document: Missing Lender's Initial 1003

Missing credit application .

Reviewer Comment (2022-01-28): In file

Buyer Comment (2022-01-26): Application in file. Please see Doc Ref #xxxx.

01/28/2022

Investment

Refinance - Cash-out - Debt Consolidation

216844648

[redacted]

24598132

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

Reviewer Comment (2022-01-28): See updated exception for remaining missing documents.

Reviewer Comment (2022-01-28): Still missing the following REO documents: xxxx missing Private mortgage statement (as disclosed on approval). xxxx missing mortgage statement. xxxx missing mortgage statement. xxxx missing mortgage statement.

Buyer Comment (2022-01-28): Address: xxxx - As per xxxx Guidelines rental income can be confirmed via fair market rents from an appraisal. Appraisal report indicates this to be $xx-$xxx. UW has used actual rental income of $xxx which is lower. Please see appraisal located at Doc Ref # xxxxx page xxxxx

Address: xxxx - Rent Roll located at Doc Ref # xxxxx page xxx, Property tax statement located at Doc Ref # xxxxx address: xxxx - Rent roll located at page xxxx, Property tax statement located at Doc Ref # xxxxx-xxxx

Address: xxxx - Rent Roll located at Doc Ref # xxxxx page xxxx, Property tax statement located at Doc Ref # xxxxx

Address: xxxx - Rent Roll located at page xxxxx, Property tax statement located at Doc Ref # xxxxx
Address: xxxx - Rent Roll located at Doc Ref # xxxxx page xxx, Property tax statement located at Doc Ref # xxxxx
Address: xxxx - Rent roll located at Doc Ref # xxxxx age xxxx, Property tax statement located at Doc Ref # xxxxx(xxxx mortgage statement)

Address: xxxx - Rent roll located at Doc Ref # xxxxx page xxxx, Property tax statement located at Doc Ref # xxxxx

Address: xxxx - Lease agreement located at Doc Ref # xxxxx page xxx, Property tax statement located at page xxx AND xxxx

Address: xxxx - Rent roll located at Doc Ref # xxxxx page xxx, Property tax statement located at Doc Ref #xxxx

01/28/2022

Investment

Refinance - Cash-out - Debt Consolidation

216844648

[redacted]

24598939

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception: Refinance within 18 months of purchase.

Borrower has worked in the same position for more than 3 years.

Lender exception granted, comp factors noted on approval.

Owner,Originator

Reviewer Comment (2022-01-25): Lender exception granted.

01/25/2022

Investment

Refinance - Cash-out - Debt Consolidation

216844648

[redacted]

24647231

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Still missing the following REO documents: xxxx missing Private mortgage statement (as disclosed on approval). xxxx missing mortgage statement. xxxx missing mortgage statement. xxxx missing mortgage statement.

Reviewer Comment (2022-01-31): Cleared

Buyer Comment (2022-01-28): xxxx: Copy of registered charge (Doc Ref # xxxxx) confirms the monthly payment for the private mortgage

xxxx: Copy of registered charge (Doc Ref # xxxxx) confirms the monthly payment for the current mortgage

xxxx: mortgage statement uploaded

xxxx: Copy of registered charge (Doc Ref # xxxxx) confirms the monthly payment for the current mortgage

Buyer Comment (2022-01-28): Mortgage Statement for xxxx uploaded.

01/31/2022

Investment

Refinance - Cash-out - Debt Consolidation

Valuation Report

Run Date - 2/3/2022 1:29:44 PM

LOAN INFORMATION					LOAN GRADES
AMC Loan ID	Customer Loan ID	Seller Loan ID	Investor Loan Number	Original Loan Amount	AMC
216844471	[redacted]				1
216844472	[redacted]				1
216844473	[redacted]				1
216844474	[redacted]				1
216844475	[redacted]				1
216844476	[redacted]				1
216844477	[redacted]				1
216844478	[redacted]				1
216844479	[redacted]				1
216844480	[redacted]				1
216844481	[redacted]				1
216844482	[redacted]				1
216844483	[redacted]				1
216844484	[redacted]				2
216844485	[redacted]				1
216844487	[redacted]				2
216844488	[redacted]				1
216844489	[redacted]				1
216844490	[redacted]				1
216844491	[redacted]				2
216844492	[redacted]				1
216844493	[redacted]				1
216844494	[redacted]				1
216844495	[redacted]				1
216844496	[redacted]				1
216844497	[redacted]				1
216844498	[redacted]				1
216844499	[redacted]				1
216844500	[redacted]				1
216844501	[redacted]				1
216844502	[redacted]				1
216844503	[redacted]				1
216844504	[redacted]				1
216844505	[redacted]				1
216844506	[redacted]				2
216844507	[redacted]				1
216844508	[redacted]				1
216844509	[redacted]				1
216844510	[redacted]				1
216844511	[redacted]				1
216844512	[redacted]				1
216844513	[redacted]				1
216844514	[redacted]				2
216844515	[redacted]				1
216844516	[redacted]				1
216844517	[redacted]				2
216844518	[redacted]				1
216844519	[redacted]				1
216844520	[redacted]				1
216844521	[redacted]				1
216844522	[redacted]				2
216844523	[redacted]				2
216844524	[redacted]				1
216844525	[redacted]				1
216844526	[redacted]				1
216844527	[redacted]				1
216844528	[redacted]				1
216844529	[redacted]				1
216844530	[redacted]				1
216844531	[redacted]				1
216844532	[redacted]				1
216844533	[redacted]				1
216844534	[redacted]				1
216844535	[redacted]				1
216844536	[redacted]				1
216844537	[redacted]				2
216844538	[redacted]				1
216844539	[redacted]				1
216844540	[redacted]				1
216844541	[redacted]				2
216844542	[redacted]				1
216844543	[redacted]				1
216844544	[redacted]				1
216844545	[redacted]				1
216844546	[redacted]				1
216844547	[redacted]				1
216844548	[redacted]				2
216844549	[redacted]				2
216844550	[redacted]				2
216844551	[redacted]				1
216844552	[redacted]				1
216844553	[redacted]				1
216844554	[redacted]				1
216844555	[redacted]				1
216844556	[redacted]				1
216844557	[redacted]				1
216844558	[redacted]				1
216844559	[redacted]				2
216844560	[redacted]				1
216844561	[redacted]				1
216844562	[redacted]				1
216844563	[redacted]				1
216844564	[redacted]				1
216844565	[redacted]				1
216844566	[redacted]				1
216844567	[redacted]				1
216844568	[redacted]				1
216844569	[redacted]				2
216844570	[redacted]				1
216844571	[redacted]				1
216844572	[redacted]				1
216844573	[redacted]				1
216844574	[redacted]				1
216844575	[redacted]				1
216844576	[redacted]				1
216844577	[redacted]				1
216844578	[redacted]				1
216844579	[redacted]				1
216844580	[redacted]				1
216844581	[redacted]				1
216844582	[redacted]				1
216844583	[redacted]				2
216844584	[redacted]				1
216844585	[redacted]				1
216844586	[redacted]				1
216844587	[redacted]				1
216844588	[redacted]				1
216844589	[redacted]				1
216844590	[redacted]				1
216844591	[redacted]				1
216844592	[redacted]				1
216844593	[redacted]				2
216844594	[redacted]				2
216844595	[redacted]				1
216844597	[redacted]				1
216844598	[redacted]				1
216844599	[redacted]				1
216844600	[redacted]				1
216844601	[redacted]				2
216844602	[redacted]				2
216844603	[redacted]				2
216844604	[redacted]				1
216844605	[redacted]				2
216844606	[redacted]				1
216844607	[redacted]				2
216844608	[redacted]				1
216844609	[redacted]				2
216844610	[redacted]				1
216844611	[redacted]				1
216844612	[redacted]				2
216844613	[redacted]				2
216844614	[redacted]				1
216844615	[redacted]				1
216844616	[redacted]				1
216844617	[redacted]				1
216844618	[redacted]				2
216844619	[redacted]				2
216844620	[redacted]				2
216844621	[redacted]				2
216844622	[redacted]				1
216844623	[redacted]				2
216844624	[redacted]				2
216844625	[redacted]				2
216844626	[redacted]				1
216844627	[redacted]				1
216844628	[redacted]				2
216844629	[redacted]				1
216844630	[redacted]				1
216844631	[redacted]				2
216844632	[redacted]				2
216844633	[redacted]				1
216844634	[redacted]				1
216844635	[redacted]				1
216844636	[redacted]				1
216844637	[redacted]				1
216844638	[redacted]				2
216844639	[redacted]				1
216844640	[redacted]				1
216844641	[redacted]				2
216844642	[redacted]				1
216844643	[redacted]				2
216844644	[redacted]				2
216844646	[redacted]				1
216844647	[redacted]				2
216844648	[redacted]				2

LOAN INFORMATION							ORIGINATION VALUES										AVM VALUES						DESK REVIEW VALUES						DESK TOP REVIEW VALUES					BPO VALUES					FIELD REVIEW VALUES					2055 VALUES					AVE/CMA VALUES					HYBRID VALUES					UPDATED VALUES					UPDATED MULTIPROPERTY VALUES
SitusAMC Loan ID	Customer Loan ID	Seller Loan ID	Investor Loan Number	Note Date	Original Loan Amount	Sales Price	Appraised Value	Value for LTV	Appraisal Date	Appraisal Valuation Type	Second Appraisal Value	Variance Amount	Variance Percent	Second Appraisal Date	Second Appraisal Type	Second Appraisal Confidence Score	Appraised Value	Variance Amount	Variance Percent	Company	Confidence Score	Appraisal Date	Appraised Value	Variance Amount	Variance Percent	Company	Risk Score	Appraisal Date	Appraised Value	Variance Amount	Variance Percent	Company	Appraisal Date	Appraised Value	Variance Amount	Variance Percent	Company	Appraisal Date	Appraised Value	Variance Amount	Variance Percent	Company	Appraisal Date	Appraised Value	Variance Amount	Variance Percent	Company	Appraisal Date	Appraised Value	Variance Amount	Variance Percent	Company	Appraisal Date	Appraised Value	Variance Amount	Variance Percent	Company	Appraisal Date	Appraised Value	Variance Amount	Variance Percent	Company	Appraisal Date	Aggregate Appraised Value	Aggregate Variance Amount	Aggregate Variance Percent	Is Eligible for Rep and Warrant Relief per Loan Collateral Advisor?	Collateral Underwriter Risk Score
216844471	[redacted]									Appraisal									45.483%
216844472	[redacted]									Appraisal									33.639%
216844473	[redacted]									Appraisal									13.868%
216844474	[redacted]									Appraisal									36.354%
216844475	[redacted]									Appraisal									21.467%
216844476	[redacted]									Appraisal									78.718%
216844477	[redacted]									Appraisal									9.977%
216844478	[redacted]									Appraisal									12.878%
216844479	[redacted]									Appraisal									57.356%
216844480	[redacted]									Appraisal									484.700%
216844481	[redacted]									Appraisal									27.455%
216844482	[redacted]									Appraisal									16.720%
216844483	[redacted]									Appraisal									51.878%
216844484	[redacted]									Appraisal									18.941%
216844485	[redacted]									Appraisal									4.222%
216844487	[redacted]									Appraisal									32.810%
216844488	[redacted]									Appraisal									47.405%
216844489	[redacted]									Appraisal									31.491%
216844490	[redacted]									Appraisal									56.714%
216844491	[redacted]									Appraisal									37.943%
216844492	[redacted]									Appraisal									17.681%
216844493	[redacted]									Appraisal									40.089%
216844494	[redacted]									Appraisal									8.631%
216844495	[redacted]									Appraisal									150.575%
216844496	[redacted]									Appraisal									15.740%
216844497	[redacted]									Appraisal									8.544%
216844498	[redacted]									Appraisal									-1.160%
216844499	[redacted]									Appraisal									12.421%
216844500	[redacted]									Appraisal									16.272%
216844501	[redacted]									Appraisal									59.387%
216844502	[redacted]									Appraisal									-2.039%
216844503	[redacted]									Appraisal									8.486%
216844504	[redacted]									Appraisal									31.304%
216844505	[redacted]									Appraisal									-5.044%
216844506	[redacted]									Appraisal									6.544%
216844507	[redacted]									Appraisal									32.401%
216844508	[redacted]									Appraisal									56.214%
216844509	[redacted]									Appraisal									15.154%
216844510	[redacted]									Appraisal									45.185%
216844511	[redacted]									Appraisal									18.857%
216844512	[redacted]									Appraisal									6.370%
216844513	[redacted]									Appraisal									-5.340%
216844514	[redacted]									Appraisal									6.368%
216844515	[redacted]									Appraisal									16.432%
216844516	[redacted]									Appraisal									13.409%
216844517	[redacted]									Appraisal									1.552%
216844518	[redacted]									Appraisal									5.400%
216844519	[redacted]									Appraisal			-6.630%		Appraisal				18.890%
216844520	[redacted]									Appraisal									7.778%
216844521	[redacted]									Appraisal									10.164%
216844522	[redacted]									Appraisal									18.794%
216844523	[redacted]									Appraisal									12.445%
216844524	[redacted]									Appraisal									22.378%
216844525	[redacted]									Appraisal									15.413%
216844526	[redacted]									Appraisal									14.554%
216844527	[redacted]									Appraisal									10.848%
216844528	[redacted]									Appraisal									5.492%
216844529	[redacted]									Appraisal									13.702%
216844530	[redacted]									Appraisal									-8.000%
216844531	[redacted]									Appraisal									29.853%
216844532	[redacted]									Appraisal									10.216%
216844533	[redacted]									Appraisal									10.207%
216844534	[redacted]									Appraisal									2.283%
216844535	[redacted]									Appraisal									19.715%
216844536	[redacted]									Appraisal									11.190%
216844537	[redacted]									Appraisal									22.193%
216844538	[redacted]									Appraisal									9.781%
216844539	[redacted]									Appraisal									36.400%
216844540	[redacted]									Appraisal									-4.681%
216844541	[redacted]									Appraisal									-0.247%
216844542	[redacted]									Appraisal									4.187%
216844543	[redacted]									Appraisal									15.567%
216844544	[redacted]									Appraisal									13.582%
216844545	[redacted]									Appraisal									12.212%
216844546	[redacted]									Appraisal									6.573%
216844547	[redacted]									Appraisal									11.737%
216844548	[redacted]									Appraisal									13.971%
216844549	[redacted]									Appraisal									7.510%
216844550	[redacted]									Appraisal									-5.041%
216844551	[redacted]									Appraisal									1.343%
216844552	[redacted]									Appraisal									7.544%
216844553	[redacted]									Appraisal									18.185%
216844554	[redacted]									Appraisal									2.136%
216844555	[redacted]									Appraisal									23.699%
216844556	[redacted]									Appraisal									4.519%
216844557	[redacted]									Appraisal									13.680%
216844558	[redacted]									Appraisal									-6.134%
216844559	[redacted]									Appraisal									8.429%
216844560	[redacted]									Appraisal									12.560%
216844561	[redacted]									Appraisal									23.617%
216844562	[redacted]									Appraisal									0.667%
216844563	[redacted]									Appraisal									19.579%
216844564	[redacted]									Appraisal									19.853%
216844565	[redacted]									Appraisal									17.431%
216844566	[redacted]									Appraisal									4.552%
216844567	[redacted]									Appraisal									5.184%
216844568	[redacted]									Appraisal									1.896%
216844569	[redacted]									Appraisal									5.009%
216844570	[redacted]									Appraisal									8.846%
216844571	[redacted]									Appraisal									3.250%
216844572	[redacted]									Appraisal									-7.700%
216844573	[redacted]									Appraisal									22.621%
216844574	[redacted]									Appraisal									14.309%
216844575	[redacted]									Appraisal									35.980%
216844576	[redacted]									Appraisal									-1.972%
216844577	[redacted]									Appraisal									7.696%
216844578	[redacted]									Appraisal									27.894%
216844579	[redacted]									Appraisal									9.523%
216844580	[redacted]									Appraisal									7.471%
216844581	[redacted]									Appraisal									2.890%
216844582	[redacted]									Appraisal									0.000%
216844583	[redacted]									Appraisal									-3.869%
216844584	[redacted]									Appraisal									-6.179%
216844585	[redacted]									Appraisal									22.121%
216844586	[redacted]									Appraisal									8.892%
216844587	[redacted]									Appraisal									2.583%
216844588	[redacted]									Appraisal									29.130%
216844589	[redacted]									Appraisal									9.370%
216844590	[redacted]									Appraisal									13.576%
216844591	[redacted]									Appraisal									9.383%
216844592	[redacted]									Appraisal									7.048%
216844593	[redacted]									Appraisal									12.972%
216844594	[redacted]									Appraisal									-2.199%
216844595	[redacted]									Appraisal									3.918%
216844597	[redacted]									Appraisal									10.000%
216844598	[redacted]									Appraisal									12.337%
216844599	[redacted]									Appraisal									8.432%
216844600	[redacted]									Appraisal									-0.067%
216844601	[redacted]									Appraisal									5.298%
216844602	[redacted]									Appraisal									5.817%
216844603	[redacted]									Appraisal									-6.161%
216844604	[redacted]									Appraisal									3.110%
216844605	[redacted]									Appraisal									-5.627%
216844606	[redacted]									Appraisal									-0.471%
216844607	[redacted]									Appraisal									17.385%
216844608	[redacted]									Appraisal									13.537%
216844609	[redacted]									Appraisal									0.809%
216844610	[redacted]									Appraisal									4.600%
216844611	[redacted]									Appraisal									6.133%
216844612	[redacted]									Appraisal									6.545%
216844613	[redacted]									Appraisal									0.000%
216844614	[redacted]									Appraisal									56.000%
216844615	[redacted]									Appraisal									-8.412%
216844616	[redacted]									Appraisal									22.519%
216844617	[redacted]									Appraisal									16.571%
216844618	[redacted]									Appraisal									3.394%
216844619	[redacted]									Appraisal									17.169%
216844620	[redacted]									Appraisal									-2.475%
216844621	[redacted]									Appraisal									-8.000%
216844622	[redacted]									Appraisal									-4.263%
216844623	[redacted]									Appraisal									18.682%
216844624	[redacted]									Appraisal									11.586%
216844625	[redacted]									Appraisal									12.216%
216844626	[redacted]									Appraisal									-1.147%
216844627	[redacted]									Appraisal									-3.429%
216844628	[redacted]									Appraisal									-5.042%
216844629	[redacted]									Appraisal									20.706%
216844630	[redacted]									Appraisal									23.824%
216844631	[redacted]									Appraisal									-6.818%
216844632	[redacted]									Appraisal									-6.818%
216844633	[redacted]									Appraisal									-5.852%
216844634	[redacted]									Appraisal									11.219%
216844635	[redacted]									Appraisal									12.548%
216844636	[redacted]									Appraisal									13.184%
216844637	[redacted]									Appraisal									15.343%
216844638	[redacted]									Appraisal									13.636%
216844639	[redacted]									Appraisal									15.763%
216844640	[redacted]									Appraisal									13.052%
216844641	[redacted]									Appraisal									-0.500%
216844642	[redacted]									Appraisal									-8.871%
216844643	[redacted]									Appraisal									8.267%
216844644	[redacted]									Appraisal									-6.783%
216844646	[redacted]									Appraisal									-2.887%
216844647	[redacted]									Appraisal									10.478%
216844648	[redacted]									Appraisal									6.393%