EX-99.5 26 ex99-5sch2.htm SCHEDULE 2 - STANDARD FINDINGS REPORT

VISTA POINT SECURITIZATION TRUST 2021-1 ABS-15G

Exhibit 99.5 Schedule 2

Seller

Loan ID

Queue

Created Date

Last Modified Date

Finding Status

Finding Grade

Finding Category

Finding Sub Category

Finding Name

Reviewer Comments

Seller Comments

Finding Resolution

Finding Document

Reviewer Comp Factors

Originator Comp Factors

State

Occupancy

Loan Purpose

Refinance Purpose

XXXX

22021010307

Closed

2021-08-03 21:04

2021-08-04 02:18

Resolved

3 - Material

Credit

Closing

Gap Credit Report Within 10 Days of Closing is Expired

Resolved-Gap Credit Report Date of XXXX is less than or equal to 10 days from Transaction Date of XXXX and Gap Report Doc Status is Present - Due Diligence Vendor-08/04/2021
Ready for Review-Document Uploaded. - Seller-08/03/2021
Open-Gap Credit Report Date of XXXX is greater than 10 days from Transaction Date of XXXX and Gap Report Doc Status is Present - Due Diligence Vendor-08/03/2021
Open-Gap Credit Report Date of XXXX is greater than 10 days from Transaction Date of XXXX and Gap Report Doc Status is Present Per guidelines, a credit report needs to be pulled within 10 days of closing - Due Diligence Vendor-08/03/2021

Ready for Review-Document Uploaded. - Seller-08/03/2021

Resolved-Gap Credit Report Date of XXXX is less than or equal to 10 days from Transaction Date of XXXX and Gap Report Doc Status is Present - Due Diligence Vendor-08/04/2021

LQI REPORT(1).pdf

Primary Residence

Refinance

Rate and Term

XXXX

22021020386

Closed

2021-06-21 22:28

2021-08-04 02:24

Resolved

3 - Material

Compliance

Closing

The Final 1003 is Not Executed

Resolved-null - Due Diligence Vendor-08/04/2021
Cured-Uploaded executed 1003/finding cured. - Due Diligence Vendor-07/02/2021
Ready for Review-Document Uploaded. LO signed final 1003 - Seller-06/30/2021
Open-Final 1003 dated XXXX is not signed by the loan originator - Due Diligence Vendor-06/21/2021

Ready for Review-Document Uploaded. LO signed final 1003 - Seller-06/30/2021

Cured-Uploaded executed 1003/finding cured. - Due Diligence Vendor-07/02/2021

Pages from Final 1003 XXXX.pdf

Primary Residence

Refinance

Cash Out - Other

XXXX

22021020386

Closed

2021-06-11 16:01

2021-08-04 02:26

Resolved

3 - Material

Credit

Appraiser License Not Current at Time of Appraisal

Resolved-null - Due Diligence Vendor-08/04/2021

Cured-Client provided Appraiser's License that expired on 04/30/2021 and now renewed until 04/30/2023. License number matches on both. - Due Diligence Vendor-06/25/2021

Open-PER APPRAISAL SUBCOMMITTEE THE APPRAISERS LICENSE WAS NOT VALID UNTIL 05/01/2021 - Due Diligence Vendor-06/11/2021

Cured-Client provided Appraiser's License that expired on 04/30/2021 and now renewed until 04/30/2023. License number matches on both. - Due Diligence Vendor-06/25/2021

Primary Residence

Purchase

XXXX

22021030051

Closed

2021-06-14 17:40

2021-08-04 02:25

Resolved

3 - Material

Compliance

Missing Doc

PUD Rider is Missing

Resolved-null - Due Diligence Vendor-08/04/2021

Cured-Corrected PUD Rider uploaded. Finding cured - Due Diligence Vendor-07/02/2021

Ready for Review-pud rider - Seller-06/30/2021

Open-PROPERTY IS A PUD PER APPRAISAL. PUD NOT SELECTED ON THE DEED OF TRUST. 1-4 FAMILY SELECTED AND PROPERTY IS A SINGLE FAMILY 4 BEDROOM RESIDENT - Due Diligence Vendor-06/14/2021

Ready for Review-pud rider - Seller-06/30/2021

Cured-Corrected PUD Rider uploaded. Finding cured - Due Diligence Vendor-07/02/2021

Investment

Purchase

XXXX

22021030133

Closed

2021-06-25 20:43

2021-08-04 02:23

Resolved

3 - Material

Compliance

TRID

Charges That Cannot Increase Test

Resolved-null - Due Diligence Vendor-08/04/2021
Cured-Lender credit did increase on CDs. - Due Diligence Vendor-07/02/2021
Ready for Review-The 33 cure shows on the CD at closing
- Seller-06/30/2021
Open-Need evidence of change of circumstance letter or a copy of a refundable check in the amount of $33 for zero tolerance fees. Transfer taxes increased from $3025 to $3058 on the Final CD dated XXXX. - Due Diligence Vendor-06/25/2021
Open-This loan failed the charges that cannot increase test. (12 CFR §1026.19(e)(3)(i))The loan contains charges that exceed the good faith determination according to §1026.19(e)(3)(i).One or more of the final charges exceed the comparable amount. Your total tolerance violation is $33.00.Please see the Tolerance Comparison Table that displays the Charges That Cannot Increase for a comparison of the data between the provided disclosures.An estimated closing cost disclosed pursuant to §1026.19(e) is in good faith if the charge paid by or imposed on the consumer does not exceed the amount originally disclosed under §1026.19(e)(1)(i). - Due Diligence Vendor-06/25/2021

Ready for Review-The XXXX cure shows on the CD at closing
- Seller-06/30/2021

Cured-Lender credit did increase on CDs. - Due Diligence Vendor-07/02/2021

Primary Residence

Refinance

Cash Out - Other

XXXX

22021030193

Closed

2021-08-03 21:30

2021-08-04 02:14

Resolved

3 - Material

Credit

Title

Property Title Issue

Resolved-Property Title Issue Resolved - Due Diligence Vendor-08/04/2021

Ready for Review-Document Uploaded. title supplement deleting judgment - Seller-08/03/2021

Open-Property Title Issue - Due Diligence Vendor-08/03/2021

Open-Property Title Issue Judgement showing on title - Due Diligence Vendor-08/03/2021

Ready for Review-Document Uploaded. title supplement deleting judgment - Seller-08/03/2021

Resolved-Property Title Issue Resolved - Due Diligence Vendor-08/04/2021

Pages from XXXX credit file.pdf

Primary Residence

Refinance

Cash Out - Other

XXXX

22021030243

Closed

2021-06-21 23:45

2021-08-04 02:28

Resolved

3 - Material

Credit

DSCR unknown

Resolved-null - Due Diligence Vendor-08/04/2021

Cured-Client provided exception to UW
- Due Diligence Vendor-07/21/2021

Ready for Review-Document Uploaded. - Seller-07/20/2021

Open-Business Purpose Affidavit/Disclosure missing - Per Approval loan is DSCR - Due Diligence Vendor-06/21/2021

Ready for Review-Document Uploaded. - Seller-07/20/2021

Cured-Client provided exception to UW
- Due Diligence Vendor-07/21/2021

Business purpose affdvt XXXXX.pdf
XXXX exception.pdf

Investment

Purchase

XXXX

22021030281

Closed

2021-06-17 20:44

2021-08-04 02:26

Resolved

3 - Material

Compliance

Closing

The Final 1003 is Not Executed

Resolved-null - Due Diligence Vendor-08/04/2021
Cured-Client provided complete signed 1003 dated XXXX signed by both the borrower and the LO. - Due Diligence Vendor-06/24/2021
Open-Final 1003 dated XXXX is not executed - Due Diligence Vendor-06/17/2021

Cured-Client provided complete signed 1003 dated XXXX signed by both the borrower and the LO. - Due Diligence Vendor-06/24/2021

Primary Residence

Purchase

XXXX

22021030340

Closed

2021-08-03 20:12

2021-08-04 02:18

Resolved

3 - Material

Credit

Certificate of Investment Purpose Disclosure Document is missing

Resolved-Resolved. Not applicable. - Due Diligence Vendor-08/04/2021

Ready for Review-Document Uploaded. - Seller-08/03/2021

Ready for Review-Document Uploaded. - Seller-08/03/2021

Resolved-Resolved. Not applicable. - Due Diligence Vendor-08/04/2021

UW Cert XXXX.pdf

Missing Business Purpose & Occupancy Disclosure. The entire loan file was checked.

Investment

Refinance

Cash Out - Other

XXXX

22021030340

Closed

2021-07-13 13:32

2021-08-03 21:09

Resolved

3 - Material

Compliance

Closing

Note Indicates Prepayment Penalty but CD Does Not Indicate a Prepayment Penalty

Resolved-The Note and CD Prepayment Penalty Issue Resolved - Due Diligence Vendor-07/14/2021

Open-Note Indicates Prepayment Penalty but CD Does Not Indicate a Prepayment Penalty - Due Diligence Vendor-07/13/2021

Resolved-The Note and CD Prepayment Penalty Issue Resolved - Due Diligence Vendor-07/14/2021

Investment

Refinance

Cash Out - Other

XXXX

22021030348

Seller

2021-06-22 18:06

2021-07-02 17:32

Open

1 - Information

Legal Docs

Hazard insurance

Hazard insurance policy in file expires within 6 months of the note date.

Open-null - Due Diligence Vendor-07/02/2021

Open-HAZARD INSURANCE EXPIRES 7/2/2021 - Due Diligence Vendor-06/22/2021

Primary Residence

Refinance

Limited Cash Out - >2% of Loan Amount or $2000

XXXX

22021030354

Closed

2021-06-04 20:15

2021-08-04 02:28

Resolved

3 - Material

Credit

Doc Issue

Amount of title insurance is less than mortgage amount

Resolved-null - Due Diligence Vendor-08/04/2021
Cured-Client provided Home Owners Report reflecting a Estimated Reconstruction Price of $XXXX. Limit of coverage for the HOI is also $XXXX. LOE provided states an endorsement to the policy covers 12 months of rental loss. Final Title Policy also provided. - Due Diligence Vendor-06/25/2021
Open-Insurance amount is less that the loan amount. Letter on file from insurance company stating that they would cover the loss in a 12 month period but unable to determine the amount at this time. - Due Diligence Vendor-06/04/2021

Cured-Client provided Home Owners Report reflecting a Estimated Reconstruction Price of $XXXX. Limit of coverage for the HOI is also $XXXX. LOE provided states an endorsement to the policy covers 12 months of rental loss. Final Title Policy also provided. - Due Diligence Vendor-06/25/2021

Investment

Refinance

Cash Out - Other

XXXX

22021030354

Closed

2021-06-08 20:14

2021-08-04 02:24

Resolved

3 - Material

Credit

Missing Doc

Title Document Missing

Resolved-null - Due Diligence Vendor-08/04/2021

Cured-Client provided Updated Prelim Title Report dated 03/16/2021. - Due Diligence Vendor-06/25/2021

Open-Title not in file - Due Diligence Vendor-06/08/2021

Cured-Client provided Updated Prelim Title Report dated 03/16/2021. - Due Diligence Vendor-06/25/2021

Investment

Refinance

Rate and Term

XXXX

22021030371

Closed

2021-06-17 16:01

2021-08-04 02:27

Resolved

3 - Material

Compliance

Closing

The Final 1003 is Not Executed

Resolved-null - Due Diligence Vendor-08/04/2021
Cured-Client provided Section 9 of the 1003 signed by the LO on XXXX. - Due Diligence Vendor-06/24/2021
Open-Final 1003 dated XXXX not executed by the Loan Originator. Not signed and dated. - Due Diligence Vendor-06/17/2021

Cured-Client provided Section 9 of the 1003 signed by the LO on XXXX. - Due Diligence Vendor-06/24/2021

Primary Residence

Refinance

Cash Out - Other

XXXX

22021030381

Seller

2021-06-15 15:47

2021-06-28 19:50

Open

1 - Information

Legal Docs

Hazard insurance

Hazard insurance policy in file expires within 6 months of the note date.

Open-null - Due Diligence Vendor-06/28/2021

Open-Hazard insurance expires within 6 months of the note date. - Due Diligence Vendor-06/15/2021

Primary Residence

Refinance

Limited Cash Out - >2% of Loan Amount or $2000

XXXX

22021030408

Seller

2021-06-22 14:45

2021-07-06 17:13

Open

1 - Information

Legal Docs

Hazard insurance

Hazard insurance policy in file expires within 6 months of the note date.

Open-null - Due Diligence Vendor-07/06/2021

Open-Hazard insurance expires 9/19/2021. - Due Diligence Vendor-06/22/2021

Investment

Refinance

Cash Out - Other

XXXX

22021030418

Seller

2021-06-21 21:29

2021-06-28 16:27

Open

1 - Information

Legal Docs

Hazard insurance

Hazard insurance policy in file expires within 6 months of the note date.

Open-null - Due Diligence Vendor-06/28/2021

Open-Hazard insurance expires 9/24/2021 - Due Diligence Vendor-06/21/2021

Investment

Refinance

Cash Out - Other

XXXX

22021040018

Closed

2021-08-03 15:44

2021-08-04 02:13

Resolved

3 - Material

Credit

DTI discrepancy or failure.

Resolved-Lender uploaded documentation to resolve DTI discrepancy. This finding is resolved. - Due Diligence Vendor-08/04/2021
Ready for Review-Document Uploaded. Still reviewing Interest Only pymt - Seller-08/03/2021
Open-Please advise on the total monthly obligations for the borrower. The qualifying proposed monthly P&I is listed as $XXXX, but in 120 months the payment becomes $XXXX. The current HOI in file shows a monthly payment of $XXXX, but $XXXX was used as the qualifying amount. - Due Diligence Vendor-08/03/2021

Ready for Review-Document Uploaded. Still reviewing Interest Only pymt - Seller-08/03/2021

Resolved-Lender uploaded documentation to resolve DTI discrepancy. This finding is resolved. - Due Diligence Vendor-08/04/2021

Flood Ins XXXX XXXX.pdf
HOI XXXX XXXX.pdf
UW Cert XXXX XXXX.pdf

Primary Residence

Purchase

XXXX

22021040026

Closed

2021-06-21 23:45

2021-08-04 02:25

Resolved

3 - Material

Compliance

Closing

The Final 1003 is Not Executed

Resolved-null - Due Diligence Vendor-08/04/2021
Cured-Signed 1003 uploaded. Cured. - Due Diligence Vendor-07/02/2021
Ready for Review-Document Uploaded. - Seller-07/02/2021
Open-Final 1003 dated XXXX is not signed by the loan originator - Due Diligence Vendor-06/21/2021

Ready for Review-Document Uploaded. - Seller-07/02/2021

Cured-Signed 1003 uploaded. Cured. - Due Diligence Vendor-07/02/2021

MISC(28).pdf

Investment

Purchase

XXXX

22021040039

Closed

2021-06-16 21:21

2021-08-04 02:27

Resolved

3 - Material

Compliance

Closing

The Final 1003 is Not Executed

Resolved-null - Due Diligence Vendor-08/04/2021
Cured-Client provided executed 1003 dated XXXX by the borrower and LO. - Due Diligence Vendor-06/29/2021
Open-Final 1003 dated XXXX is not executed - Due Diligence Vendor-06/16/2021

Cured-Client provided executed 1003 dated XXXX by the borrower and LO. - Due Diligence Vendor-06/29/2021

Investment

Purchase

XXXX

22021040039

Closed

2021-08-05 16:15

2021-08-05 19:02

Resolved

3 - Material

Credit

Missing Doc

Approval/Underwriting Summary Partially Provided

Resolved-Received correct 1008 and resolved - Due Diligence Vendor-08/05/2021

Ready for Review-Document Uploaded. - Seller-08/05/2021

Open-The 1008 in file has an incorrect P&I listed which is lowering the DTI ratio. - Due Diligence Vendor-08/05/2021

Ready for Review-Document Uploaded. - Seller-08/05/2021

Resolved-Received correct 1008 and resolved - Due Diligence Vendor-08/05/2021

MISC(118).pdf

Primary Residence

Purchase

XXXX

22021040067

Closed

2021-08-05 16:28

2021-08-05 19:01

Resolved

3 - Material

Credit

Eligibility

Missing Property Tax Cert

Resolved-null - Due Diligence Vendor-08/05/2021

Ready for Review-Document Uploaded. UW used taxes from appraisal. Property profile supports using this figure. - Seller-08/05/2021

Open-Missing property tax cert showing the annual amount that was calculated on the final cd. - Due Diligence Vendor-08/05/2021

Ready for Review-Document Uploaded. UW used taxes from appraisal. Property profile supports using this figure. - Seller-08/05/2021

426_XXXX_XXXX_Rd_Property_Profile.pdf

Investment

Purchase

XXXX

22021040072

Closed

2021-06-09 16:59

2021-06-30 14:27

Resolved

3 - Material

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-null - Due Diligence Vendor-06/30/2021
Cured-Client provided Revised LE dated XXXX, Initial CD dated XXXX and revised CD dated XXXX. - Due Diligence Vendor-06/25/2021
Open-Missing the Initial Closing Disclosure - Due Diligence Vendor-06/09/2021

Cured-Client provided Revised LE dated XXXX, Initial CD dated XXXX and revised CD dated XXXX. - Due Diligence Vendor-06/25/2021

Primary Residence

Refinance

Cash Out - Other

XXXX

22021040072

Closed

2021-06-08 20:11

2021-08-04 02:24

Resolved

3 - Material

Credit

Doc Issue

Missing Title evidence

Resolved-null - Due Diligence Vendor-08/04/2021

Cured-Client provided Updated Prelim Title Report dated 03/16/2021. - Due Diligence Vendor-06/25/2021

Open-Missing title report. No title in file - Due Diligence Vendor-06/08/2021

Cured-Client provided Updated Prelim Title Report dated 03/16/2021. - Due Diligence Vendor-06/25/2021

Investment

Refinance

Rate and Term

XXXX

22021040108

Closed

2021-06-16 21:59

2021-08-04 02:26

Resolved

3 - Material

Compliance

Closing

The Final 1003 is Not Executed

Resolved-null - Due Diligence Vendor-08/04/2021
Cured-Client provided 1003 signed by the borrowers and LO on XXXX. - Due Diligence Vendor-06/25/2021
Open-Final 1003 is not dated by the loan officer - Due Diligence Vendor-06/16/2021

Cured-Client provided 1003 signed by the borrowers and LO on XXXX. - Due Diligence Vendor-06/25/2021

Primary Residence

Purchase

XXXX

22021040108

Closed

2021-08-03 00:53

2021-08-03 22:19

Resolved

3 - Material

Credit

Missing Doc

Subordination Agreement is Missing

Resolved-Thank you for evidence of recording order. Finding resolved. - Due Diligence Vendor-08/03/2021
Ready for Review-Document Uploaded. - Seller-08/03/2021
Open-Subordinate agreement is missing per approval and per final CD in file page 3 of closing file. $XXXX of subordinate funds were applied to this transaction. Subordination Agreement missing from file for this concurrent lien. - Due Diligence Vendor-08/03/2021

Ready for Review-Document Uploaded. - Seller-08/03/2021

Resolved-Thank you for evidence of recording order. Finding resolved. - Due Diligence Vendor-08/03/2021

Recorded mortgage.pdf
UW Cert XXXX.pdf
2nd mortgage.pdf

Primary Residence

Purchase

XXXX

22021040180

Closed

2021-08-03 13:12

2021-08-04 01:54

Resolved

3 - Material

Credit

Missing Doc

Subordination Agreement is Missing

Resolved-Subordination Agreement is Present - Due Diligence Vendor-08/03/2021

Open-Missing Subordination Agreement - Due Diligence Vendor-08/03/2021

Resolved-Subordination Agreement is Present - Due Diligence Vendor-08/03/2021

Primary Residence

Purchase

XXXX

22021040202

Closed

2021-08-03 16:34

2021-08-04 02:15

Resolved

3 - Material

Credit

Title

Property Title Issue

Resolved-Resolved - Due Diligence Vendor-08/04/2021
Ready for Review-Document Uploaded. Seller side of Settlement statement shows judgment being paid - Seller-08/03/2021
Open-Property Title Issue - Due Diligence Vendor-08/03/2021
Open-Property Title Issue Judgement showing on title against seller for $XXXX from XXXX. Being paid at closing. - Due Diligence Vendor-08/03/2021

Ready for Review-Document Uploaded. Seller side of Settlement statement shows judgment being paid - Seller-08/03/2021

Resolved-Resolved - Due Diligence Vendor-08/04/2021

Pages from XXXX closing file.pdf

Primary Residence

Purchase