EX-99.36 37 ex99-36.htm INFINITY LOAN LEVEL EXCEPTION REPORT (45 LOANS)

 

MFA 2024-NQM1 Trust ABS-15G

EXHIBIT 99.36

 

Infinity Loan ID Loan Number Redacted Loan ID Borrower Name State QM/ATR Status Initial Overall Loan Grade Final Overall Grade Final Credit Grade Final Property Grade Final Compliance Grade Material (level 3) TRID exception? Material (level 3) Non-TRID exception? Active Material Exceptions Active Non Material Exceptions Satisfied Exceptions Waived Exceptions Compensating Factors Property Type Note Date LTV CLTV Occupancy Purpose Credit Score Brwr 1 Yrs in Property Brwr 1 Occupation Brwr 1 Yrs on Job Total Monthly Income Mortgage History Cash Out Amount DTI FTHB Flag Loan Doc Type Loan Status Review Date
xx xx 74879 xx Texas Non-QM/Compliant 3 2 2 1 1 No No     *** (CURED) Note is missing or unexecuted - EV R
COMMENT:   Provide a copy of promissory note document as it is missing in the loan file.

Resolved : Received Note - 10/17		 *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Exception required due to borrower's credit score not meeting the minimum 720 for cash-out refinance with loan amount of xx.		 Low LTV: LTV of xx is less than the maximum guideline requirement of xx.

Reserve : 28 months reserves exceed the minimum guideline of 3 months.


Residual Income: xx monthly

Reserves: The 28 months of available reserves are more than the guideline requirement of 6 months.
 PUD xx xx xx Primary Cash Out 693 7.75 xx 26 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx 48.594%   Alternative QC Complete 10/13/2023
xx xx 73977 xx California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Application Missing - EV R
COMMENT:   Provide final 1003 as it is missing in the loan file.

Resolved : Received final 1003 - 10/4

*** (CURED) Missing proof of hazard insurance - EV R
COMMENT:   Provide HOI policy as it is missing in the loan file.

Resolved : Received HOI policy - 10/2		     Single Family xx xx xx Investor Cash Out 735         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		 xx 46.492%   Alternative QC Complete 09/29/2023
xx xx 74887 xx California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of 4506-C document as it is missing in the file.

Resolved : Received 4506-C -12/8		     PUD xx xx xx Primary Cash Out 772 0.92 xx 6.67 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx 47.504%   Full Documentation QC Complete 12/05/2023
xx xx 74888 xx California Non-QM/Compliant 1 1 1 1 1 No No           Single Family xx xx xx Primary Cash Out 730 25 xx 38 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx 34.130%   Alternative QC Complete 11/24/2023
xx xx 75276 xx California Not Covered/Exempt 1 1 1 1 1 No No           Single Family xx xx xx Investor Cash Out 681   xx 19.75 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx 49.490%   Alternative QC Complete 12/05/2023
xx xx 74890 xx Nevada Non-QM/Compliant 1 1 1 1 1 No No           Single Family xx xx xx Primary Purchase 771         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 11/24/2023
xx xx 74894 xx California Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Loan does not conform to program guidelines - EV R
COMMENT:   "Loan files do not meet the guide requirement. As per guidelines, "3 (three) tradelines with at least 12 months reviewed and activity reported in the past 12 months OR "2 tradelines with at least 24 months reviewed and activity reported in the past 12 months" is required. However, as per the credit report, one tradeline activity has been reported in the past 12 months.

Resolved : Received Mortgage statement, tax bill and paid receipt - 12/11

*** (CURED) Reverification within 10 days is missing - EV R
COMMENT:   Provide verbal VOE for borrower (xx) from (xx) dated within 5 business days of closing.

Resolved : Received Work#VOE - 12/11		     Single Family xx xx xx Secondary Purchase 796   xx 20.58 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   48.810% No Full Documentation QC Complete 12/05/2023
xx xx 74895 xx California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide most recent information for REO Property located at:
i) xx  - Hazard Insurance ,Tax Bill or HOA if applicable. If taxes & Insurance are escrowed, provide most recent mortgage statement for the same.

Resolved : Received HOI, Tax bill  - 12/5		     Single Family xx xx xx Investor Refinance 777   xx 22.56 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   32.683%   Alternative QC Complete 12/04/2023
xx xx 76375 xx California Not Covered/Exempt 1 1 1 1 1 No No           Single Family xx xx xx Investor Cash Out 723   xx 27 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx 39.613%   Alternative QC Complete 03/07/2024
xx xx 76376 xx California Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Final Application Incomplete - EV R
COMMENT:   Provide the final URLA-Lender loan information sheet, which is missing in the loan file.

Resolved : Received URLA-Lender loan information sheet - 2/14

*** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged  11.578% Allowed 10.090% Overby +1.488%.

This loan is compliant with regulation 1026.35.

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   CA AB 260, California Financial Code Division 1.94995(a) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the California Financial Code.

CA AB 260 Higher-Priced Mortgage Loan Test: Charged 11.578% Allowed 10.090% Overby +1.488%.

This loan is compliant with regulation CA AB 260, California Financial Code Division 1.94995(a).		     2 Family xx xx xx Primary Cash Out 685 7.92 xx 4 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx 49.710%   Alternative QC Complete 02/12/2024
xx xx 75720 xx California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Final Application Incomplete - EV R
COMMENT:   Provide the final URLA-Lender loan information sheet, which is missing in the loan file.

Resolved : Received URLA-Lender loan information sheet - 1/12		     PUD xx xx xx Primary Cash Out 690 17       Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx     Alternative QC Complete 01/09/2024
xx xx 76381 xx California Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Final Application Incomplete - EV R
COMMENT:   Provide the final URLA-Lender loan information sheet, which is missing in the loan file.

Resolved : Received final URLA-Lender loan information sheet - 2/14

*** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

CA AB 260 Higher-Priced Mortgage Loan Test: Charged  10.867% Allowed 10.090% Overby +0.777%

This loan is compliant with regulation 1026.35.

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   CA AB 260, California Financial Code Division 1.94995(a) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the
California Financial Code.

CA AB 260 Higher-Priced Mortgage Loan Test: Charged 10.867% Allowed 10.090% Overby +0.777%

This loan is compliant with regulation CA AB 260, California Financial Code Division 1.9 4995(a).		     Single Family xx xx xx Primary Cash Out 715 5 xx 40 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx 6.399%   Alternative QC Complete 02/12/2024
xx xx 76389 xx California Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1)  Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 11.284% Allowed 10.150% Overby +1.134%.

This loan is compliant with regulation 1026.35.

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   CA AB 260, California Financial Code Division 1.94995(a) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the
California Financial Code.

CA AB 260 Higher-Priced Mortgage Loan Test: Charged 11.284% Allowed 10.150% Overby +1.134%.

This loan is compliant with regulation CA AB 260, California Financial Code Division 1.94995(a).		     PUD xx xx xx Primary Cash Out 687 8 xx 2.75 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx 47.864%   Alternative QC Complete 02/16/2024
xx xx 76391 xx Washington Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 12.127% Allowed 10.150% Overby +1.977%

This loan is compliant with regulation 1026.35.		     PUD xx xx xx Primary Cash Out 689 6 xx 10 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx 49.600%   Alternative QC Complete 02/16/2024
xx xx 63600 xx California Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged: 5.841%    Allowed: 4.660%     Over by: +1.181%

This loan is compliant with regulation 1026.35.

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   (CA AB 260, California Financial Code Division 1.94995(a)) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the California Financial Code.

CA AB 260 Higher-Priced Mortgage Loan Test: charged 5.841%    allowed 4.660%      over by+1.181%

This loan is compliant with regulation CA AB 260, California Financial Code Division 1.94995(a)		     Single Family xx xx xx Primary Purchase 784   xx 1.58 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   30.874% Yes Full Documentation QC Complete 03/20/2024
xx xx 63625 xx Texas Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test:  Charged:6.009%    Allowed:4.780%      Over by:+1.229%

This loan is compliant with regulation 1026.35.		     PUD xx xx xx Primary Refinance 750 1.08 xx 3.33 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   49.647%   Full Documentation QC Complete 03/20/2024
xx xx 63650 xx Nevada Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged      5.518%            Allowed      5.120%       Over by        +0.398%

This loan is compliant with regulation 1026.35.		     Single Family xx xx xx Primary Purchase 718   xx 6.5 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   30.417% Yes Alternative QC Complete 03/20/2024
xx xx 63656 xx Washington Non-QM/Compliant 1 1 1 1 1 No No           Single Family xx xx xx Primary Refinance 689 1 xx 12.08 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   44.150%   Full Documentation QC Complete 03/15/2022
xx xx 63674 xx California Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Excessive DTI - EV R
COMMENT:   The lender guidelines allow maximum DTI at 50%. Missing Exception approval for the Loan exceeds DTI with 50.030%.

03/18/2022 - Please refer to section 5.6 of xx Guidelines- "The Maximum Debt-to-Income (“DTI) ratio for any loan is 50% of total income
including any asset depletion component rounded down (i.e.: 50.49% rounds to 50%)". Condition has been resolved.

*** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged  5.384%    allowed 5.120%     over by+0.264%

This loan is compliant with regulation 1026.35.

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   (CA AB 260, California Financial Code Division 1.94995(a)) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the California Financial Code.

CA AB 260 Higher-Priced Mortgage Loan Test: Charged  5.384% allowed 5.120% over by+0.264%

This loan is compliant with regulation CA AB 260, California Financial Code Division 1.94995(a)		     Single Family xx xx xx Primary Refinance 740 0.08 xx 22.66 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   50.029%   Full Documentation QC Complete 03/20/2024
xx xx 63734 xx Washington Non-QM/Compliant 1 1 1 1 1 No No           Single Family xx xx xx Primary Cash Out 736 2 xx 5 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:Credit Report		 xx 23.296%   Full Documentation QC Complete 03/11/2022
xx xx 65129 xx Utah Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   The amount of proposed Lender's coverage on the Title Commitment Title is less than the loan amount.  The document reflects coverage in the amount of xx, however, the Note reflects a loan amount of xx.

07/01/2022 - Received client confirmation that the closing package includes specific directives to the closer and all related parties of all the specific terms of the loan to be reflected on the final documents including the final title policy. Hence condition is waived.

*** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged  6.117% allowed 5.260% over by +0.857%

This loan is compliant with regulation 1026.35.

*** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide Lease agreement or schedule E document for the Property of xx

07/01/2022 - Received Final Settlement Statement and Note for xx PITIA as xx did that loan as well. 1007 reflects xx for market rents since it was a new purchase. Hence, condition is resolved.

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide mortgage statement for this property  xx

07/01/2022 - Received Final Settlement Statement and Note for xx PITIA as xx did that loan as well. 1007 reflects xx for market rents since it was a new purchase. Hence, condition is resolved.		     Single Family xx xx xx Primary Refinance 676 2.41 xx 4.38 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   36.120%   Full Documentation QC Complete 03/20/2024
xx xx 65184 xx California Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Assets Verification - EV R
COMMENT:   Bank statement for the xx #xx with ending balance xx is missing in the loan package.

07/25/2022 - Not Resolved - Closing Disclosure with Issue date xx, Closing date xx and Disbursement date xx has mentioned that we will require $653.03 from borrower. Hence, we are missing Bank statement for the xx #xx with ending balance xx.

08/05/2022 - As per xx closing funds do not need to be provided for LTV’s of xx and below for Non-Prime product. Hence, condition is resolved.

*** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged 6.109% Allowed 5.420% Over by +0.689%

This loan is compliant with regulation 1026.35.

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   (CA AB 260, California Financial Code Division 1.94995(a)) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the California Financial Code.

CA AB 260 Higher-Priced Mortgage Loan Test: Charged: 6.109% Allowed 5.420%  Over by +0.689%

This loan is compliant with regulation CA AB 260, California Financial Code Division 1.94995(a)

*** (CURED) 10% Tolerance Fees test fail - EV R
COMMENT:   TRID Reimbursement Violation due to a fee increase of $76.10 above the 10% tolerance allowed for Recording fees. Initial LE dated 03/11/2022 reflects Recording Fees totaling $429.00 , however, Post Close CD dated 04/29/2022 reflects Recording Fees totaling $548.00.  This is a fee increase of $76.10 above the allowable 10% tolerance for Recording Fees.  Please provide either a valid COC or PCCD, LOE, proof of delivery, and copy of refund check in the amount of $76.10

Resolved 7/25/2022 : Received Changed Circumstances document dated 4/8/2022 and updated, hence conditions is resolved.		     Single Family xx xx xx Primary Refinance 759 6 xx 15.41 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   46.702%   Alternative QC Complete 03/20/2024
xx xx 65284 xx Georgia Non-QM/Compliant 4 2 1 1 2 No No   *** (OPEN) ComplianceEase TRID Tolerance Test is Incomplete - EV 2
COMMENT:   Initial Closing Disclosure missing in the loan package. Kindly provide initial closing disclosure document.

Not Resolved 7/14/2022 : Received revised CD dated xx instead of Initial Closing Disclosure, issue remains same.

Not Resolved 8/8/2022 : Three days waiting period waiver document received from borrower by electronic letter and e-signed, instead of hand written and hand signed by borrower, issue remains same.

03/20/2024: Downgraded to level 2 as the seasoning is beyond the 1-year TRID statute of limitations for a purchase transaction.		 *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged 7.954%  Allowed 6.290%  Over by+1.664%

This loan is compliant with regulation 1026.35.		     PUD xx xx xx Primary Purchase 721   xx 24 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   47.966% No Alternative QC Complete 03/20/2024
xx xx 61250 xx California Not Covered/Exempt 1 1 1 1 1 No No           2 Family xx xx xx Investor Cash Out 778 0.5       Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx     Alternative QC Complete 12/01/2021
xx xx 63353 xx California Not Covered/Exempt 1 1 1 1 1 No No           4 Family xx xx xx Investor Cash Out 742         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx     Alternative QC Complete 01/27/2022
xx xx 61980 xx Colorado Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged: 5.493%   Allowed: 4.600%   Over by: +0.893%

This loan is compliant with regulation 1026.35.		     Single Family xx xx xx Primary Purchase 733   xx 2.58 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   15.840% No Alternative QC Complete 03/20/2024
xx xx 72263 xx New Jersey Not Covered/Exempt 1 1 1 1 1 No No           Single Family xx xx xx Investor Refinance 737         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		       Alternative QC Complete 06/27/2023
xx xx 72692 xx Texas Not Covered/Exempt 1 1 1 1 1 No No           PUD xx xx xx Investor Cash Out 722         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		 xx     Alternative QC Complete 07/31/2023
xx xx 72269 xx California Not Covered/Exempt 1 1 1 1 1 No No           Single Family xx xx xx Investor Cash Out 670         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		 xx     Alternative QC Complete 06/27/2023
xx xx 74202 xx New Hampshire Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Additional Address on Credit Report - EV R
COMMENT:   Provide letter of explanation for following address reflects on credit report:

1. xx (06/23)
2. xx (08/23)

Resolved : Received LOX  - 11/14

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide evidence of payoff or explanation of why the xx #xx trade line was not included in DTI.

Resolved : Received LOX and updated 1008 - 11/14

*** (CURED) Disclosure - Your Home Loan Toolkit is missing or unexecuted - EV R
COMMENT:   Missing Home Loan Toolkit in the loan package.

11/14/2023 Resolved: Received your home loan toolkit, as a result condition cleared.		     Single Family xx xx xx Primary Purchase 726   xx 7.25 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   17.904% No Alternative QC Complete 09/28/2023
xx xx 72702 xx Florida Not Covered/Exempt 1 1 1 1 1 No No           Single Family xx xx xx Investor Cash Out 663         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx     Alternative QC Complete 08/07/2023
xx xx 72704 xx California Not Covered/Exempt 1 1 1 1 1 No No           Single Family xx xx xx Investor Cash Out 710         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx     Alternative QC Complete 07/31/2023
xx xx 72706 xx Texas Not Covered/Exempt 1 1 1 1 1 No No           Single Family xx xx xx Investor Cash Out 739         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx     Alternative QC Complete 07/31/2023
xx xx 72721 xx Arizona Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Missing Final 1003_Application - EV R
COMMENT:   Provide updated final 1003 as page# 2,3 and lender information sheet is missing in the loan file.

08/03/2023: Resolved: The final applications have been received along with lender information sheet.		     PUD xx xx xx Investor Purchase 780         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/26/2023
xx xx 73495 xx California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Borrower Identity Missing - EV R
COMMENT:   Provide Green card or alien registration card (I-551) for borrower (xx) as it is missing in the loan file.

08/24/2023: Resolved: A copy of the borrower's (xx) identity proof has been received (Permanent resident alien card).

*** (CURED) Hazard Insurance - EV R
COMMENT:   Provide an updated copy of hazard insurance policy as page number 02 & 03 is missing in provided document.

08/25/2023: Resolved: Complete pages of the hazard insurance policy document have been received.		     Single Family xx xx xx Investor Purchase 737         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent		     No Alternative QC Complete 08/22/2023
xx xx 73159 xx Idaho Not Covered/Exempt 1 1 1 1 1 No No           Single Family xx xx xx Investor Purchase 756         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 08/10/2023
xx xx 72723 xx Florida Not Covered/Exempt 1 1 1 1 1 No No           PUD xx xx xx Investor Purchase 764         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 07/24/2023
xx xx 73987 xx Georgia Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Hazard Insurance Coverage less than Loan Amount - EV R
COMMENT:   Dwelling coverage (xx) reflecting on the hazard insurance policy is not sufficient to cover the loan amount (xx); however, replacement cost estimator is present in file and amount of replacement cost  estimator (xx) is being not covered by the dwelling amount, provide replacement cost estimate with current dwelling amount.

11/16/2023 Resolved: Received LOX for 100% Guaranteed replacement cost and covers the loan amount, as a result condition cleared.		     3 Family xx xx xx Investor Cash Out 646         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx     Alternative QC Complete 09/20/2023
xx xx 74594 xx Florida Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) xx xx xx Investor Purchase 779         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 09/25/2023
xx xx 74595 xx Florida Not Covered/Exempt 1 1 1 1 1 No No           PUD xx xx xx Investor Purchase 726         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Multiple Source Docs		     No Alternative QC Complete 09/11/2023
xx xx 74596 xx California Not Covered/Exempt 1 1 1 1 1 No No           3 Family xx xx xx Investor Cash Out 663         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx     Alternative QC Complete 09/25/2023
xx xx 73998 xx Florida Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) LOE - EV R
COMMENT:   Provide a satisfactory rental survey for subject supporting submitted rental income of xx.

Resolved : Received 1007 - 10/4

*** (CURED) Additional Address Noted - EV R
COMMENT:   Provide letter of explanation for ownership of following address reflects on bank statement: xx

11/16/2023 Resolved: Received Letter of Explanation for ownership of xx reflects on bank statement, as a result condition cleared.		     Single Family xx xx xx Investor Purchase 769   xx 15.08 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		   45.947% No Alternative QC Complete 10/02/2023
xx xx 73785 xx Florida Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Require amended deed of trust as property type is PUD in appraisal report; however, security instrument shows Single family.

Resolved : Received updated copy of DOt with PUD rider - 12/8		     PUD xx xx xx Investor Purchase 702         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		     No Alternative QC Complete 09/26/2023
xx xx 73790 xx Michigan Not Covered/Exempt 1 1 1 1 1 No No           Single Family xx xx xx Investor Cash Out 786         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report		 xx     Alternative QC Complete 09/25/2023
xx xx 74604 xx Colorado Non-QM/Compliant 1 1 1 1 1 No No           Single Family xx xx xx Primary Cash Out 679 1 xx 5.42 xx Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Mortgage		 xx 47.075%   Alternative QC Complete 09/27/2023