EX-99.42 43 ex99-42.htm INFINITY RATING AGENCY GRADES DETAIL REPORT (186 LOANS)

EXHIBIT 99.42

Loan ID

Redacted Loan ID

Seller Loan ID

Investor Loan ID

Overall Initial Loan Grade

Overall Final Loan Grade

Credit Initial Loan Grade

Credit Current/Final Loan Grade

Compliance Initial Loan Grade

Compliance Current/Final Loan Grade

Property Initial Loan Grade

Property Current/Final Loan Grade

Queue

Finding Code

Date Created

Date Modified

Finding Status

Event Level

Initial Finding Grade

Current/Final Finding Grade

Finding Category

Finding Sub Category

Finding Name

Finding Comments

Seller Comments

Resolution Comments

Reviewer Comp Factor

Originator Comp Factors

Finding Documents

Originator QM Status

Final Reviewed QM Status

Loan Amount

Property State

Occupancy

Loan Purpose

Refinance Purpose

Acknowledged / WaivedBy

Waiver in File?

Unique Finding ID

74593

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74969

Closed

FCRE1437

2023-11-23 10:10

2024-01-04 07:06

Resolved

1 - Information

Credit

Income

Income and Employment Do Not Meet Guidelines

Resolved-Resolved : Received bank statement - 1/4 - Due Diligence Vendor-01/04/2024
Ready for Review-Document Uploaded. - Seller-01/03/2024
Open-Income and Employment Do Not Meet Guidelines Business bank statements are missing for the months Dec 2022 to Jun 2023, sep 2021 and Oct 2021 for xx #xx.
Further the different xx# xx account statements are provided for the same business and the same period. These deposit incomes are different with income taken in work sheet. - Due Diligence Vendor-11/23/2023

Ready for Review-Document Uploaded. - Seller-01/03/2024

Resolved-Resolved : Received bank statement - 1/4 - Due Diligence Vendor-01/04/2024

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 6.5 Years
Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 33.6% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 742 is Greater Than The Guideline Minimum Of 720 By Twenty (20) or More Points
Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 10.50 Years
Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 23 Years
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 67.53 Are Greater Than The Guideline Minimum Of 3 By Six (6) Or More Months
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More

BSI Package.pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1275164

74970

Closed

FPRO1242

2023-11-22 11:41

2024-01-08 04:35

Resolved

1 - Information

Property

Missing Doc - Appraisal

Appraisal is Missing

Resolved-Appraisal is Present or is Waived - Due Diligence Vendor-01/08/2024

Resolved-Appraisal is Present or is Waived - Due Diligence Vendor-01/04/2024

Ready for Review-Document Uploaded. Subject is condo - Seller-01/03/2024

Open-Appraisal is Missing Appraisal document is missing in file. - Due Diligence Vendor-11/22/2023

Ready for Review-Document Uploaded. Subject is condo - Seller-01/03/2024

Resolved-Appraisal is Present or is Waived - Due Diligence Vendor-01/08/2024

Resolved-Appraisal is Present or is Waived - Due Diligence Vendor-01/04/2024

APPRAISAL - 2024-01-03T144257.814.pdf

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

N/A

1274129

74970

Closed

FPRO1136

2024-01-04 07:24

2024-01-08 04:35

Resolved

1 - Information

Property

Appraisal

Subject property appraisal is not on an as-is basis (Primary Value)

Resolved-Primary Value for Subject Property Appraisal is completed on an As-Is Basis, the 1004D Completion Report is fully present, or Not Applicable - Due Diligence Vendor-01/08/2024

Ready for Review-Document Uploaded. - Seller-01/06/2024

Open-Primary Value Subject Property Appraisal is not on an As-Is Basis and Completion Report (1004D) is not fully Present - Due Diligence Vendor-01/04/2024

Ready for Review-Document Uploaded. - Seller-01/06/2024

Resolved-Primary Value for Subject Property Appraisal is completed on an As-Is Basis, the 1004D Completion Report is fully present, or Not Applicable - Due Diligence Vendor-01/08/2024

1004D-REPAIRS_ FINAL INSPECTION (13).pdf

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

N/A

1352262

74970

Closed

FVAL1628

2023-11-24 14:28

2024-01-04 07:25

Resolved

1 - Information

Property

Property Issue

No HOA fees on appraisal and property identified as a PUD

Resolved-Resolved : Received condo certificate - Due Diligence Vendor-01/04/2024

Open-HOA document is missing in the loan File. - Due Diligence Vendor-11/24/2023

Resolved-Resolved : Received condo certificate - Due Diligence Vendor-01/04/2024

CONDO CERTIFICATION (21).pdf

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

N/A

1275451

74970

Closed

FCRE1258

2023-11-24 14:16

2024-01-04 07:19

Resolved

1 - Information

Credit

Missing Doc - Approval Info

Collateral Underwriter Missing

Resolved-Collateral Underwriter Provided or Not Applicable - Due Diligence Vendor-01/04/2024

Ready for Review-Document Uploaded. - Seller-01/03/2024

Open-Please verify Collateral Underwriter Score Provided is actually Missing. CDA or Cu Score which is less than 2.5 Score, Missing in the loan file. - Due Diligence Vendor-11/24/2023

Ready for Review-Document Uploaded. - Seller-01/03/2024

Resolved-Collateral Underwriter Provided or Not Applicable - Due Diligence Vendor-01/04/2024

FNMA & FHLMC SUCCESSFUL UCDP (37).pdf

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

N/A

1275446

74597

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74598

ATR/QM: Not Applicable

Investment

Purchase

74599

Closed

FVAL9739

2023-10-20 12:57

2023-11-10 08:48

Resolved

1 - Information

Property

Appraisal

Property/Appraisal General

Resolved-Updated Appraisal with the PUD Box Checked provided.  - Due Diligence Vendor-11/10/2023

Ready for Review-Document Uploaded.  - Seller-11/09/2023

Open-Appraisal missing PUD checked, although HOA fees present. Deed of Trust reflects PUD Rider.  - Due Diligence Vendor-10/20/2023

Ready for Review-Document Uploaded. - Seller-11/09/2023

Resolved-Updated Appraisal with the PUD Box Checked provided. - Due Diligence Vendor-11/10/2023

Borrower At Current Residence For Five (5) Or More Years - Validated

Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Validated

Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Validated

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 21.67% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More Validated

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Validated

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 10.75 Years Validated

APPRAISAL - 2023-11-09T122726.916.pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1224485

74599

Closed

FCRE4805

2023-10-20 12:45

2023-11-10 08:47

Resolved

1 - Information

Credit

Eligibility

Trust/POA Does Not Meet Guideline Requirements

Resolved-Trust/POA Meets Guideline Requirements - Due Diligence Vendor-11/10/2023
Resolved-POA for Both Borrowers provided - Due Diligence Vendor-11/10/2023
Ready for Review-Document Uploaded. - Seller-11/09/2023
Open-Trust/POA Does Not Meet Guideline Requirements Missing Power of Attorney documents. All closing documents signed by Power of Attorney xx, for B1 and B2. - Due Diligence Vendor-10/20/2023

Ready for Review-Document Uploaded. - Seller-11/09/2023

Resolved-Trust/POA Meets Guideline Requirements - Due Diligence Vendor-11/10/2023

Resolved-POA for Both Borrowers provided - Due Diligence Vendor-11/10/2023

MISCELLANEOUS DOCUMENTS (7).pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1224466

74600

ATR/QM: Not Applicable

Investment

Purchase

74601

Closed

finding-3634

2023-10-13 12:56

2023-11-10 12:17

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved- - Due Diligence Vendor-11/10/2023

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 $16.25.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). ***Full compliance testing conducted with LE's and CD's in file due to credit cards and installment loans being paid at close. Consumer lending thresholds apply for loans where funds are possibly used for consumer purpose. No apparent connection in loan documentation between debts paid at closing and business purpose use of loan proceeds. Current outstanding TRID tolerance item involves missing COC to address the increase in transfer tax. - Due Diligence Vendor-10/13/2023

Resolved- - Due Diligence Vendor-11/10/2023

Borrower 2 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 2 Has Stable Job Time Of Five (5) Or More Years At Current Job - 19.33 Years
Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 28 Years
Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals 0.30555230098288094
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 14.72 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 735 is Greater Than The Guideline Minimum Of 660 By Twenty (20) or More Points
Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 19.33 Years
Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 33.59% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More
Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 14 Years

Non-QM: Lender documented all ATR UW factors

Investment

Refinance

Cash Out - Debt Consolidation

N/A

1211188

74601

Closed

finding-3632

2023-10-13 12:56

2023-11-10 12:05

Resolved

1 - Information

Compliance

Disclosures (Federal, State, and Data Dependent)

Consummation or Reimbursement Date Validation Test

Resolved- - Due Diligence Vendor-11/10/2023

Open-This loan failed the closing or reimbursement date validation test.The loan failed one or more tolerance tests and did not provide either a reimbursement date or a consummation date (or closing / settlement date, if consummation date is not available). This information is necessary in order to correctly perform reimbursement calculations. ***Full compliance testing conducted with LE's and CD's in file due to credit cards and installment loans being paid at close. Consumer lending thresholds apply for loans where funds are possibly used for consumer purpose. No apparent connection in loan documentation between debts paid at closing and business purpose use of loan proceeds. Current outstanding TRID tolerance item involves missing COC to address the increase in transfer tax. - Due Diligence Vendor-10/13/2023

Resolved- - Due Diligence Vendor-11/10/2023

Borrower 2 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 2 Has Stable Job Time Of Five (5) Or More Years At Current Job - 19.33 Years

Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 28 Years

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals 0.30555230098288094

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 14.72 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 735 is Greater Than The Guideline Minimum Of 660 By Twenty (20) or More Points

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 19.33 Years

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 33.59% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 14 Years

Non-QM: Lender documented all ATR UW factors

Investment

Refinance

Cash Out - Debt Consolidation

N/A

1211187

74601

Closed

finding-3631

2023-10-13 12:56

2023-11-10 12:05

Resolved

1 - Information

Compliance

Points & Fees

Reimbursement Amount Validation Test

Resolved- - Due Diligence Vendor-11/10/2023

Ready for Review-Document Uploaded. See PCCD for $22 lender credit - Seller-11/09/2023

Open-This loan failed the reimbursement amount validation test.The loan failed one or more tolerance tests and did not provide a reimbursement amount. This information is necessary in order to correctly perform reimbursement calculations. ***Full compliance testing conducted with LE's and CD's in file due to credit cards and installment loans being paid at close. Consumer lending thresholds apply for loans where funds are possibly used for consumer purpose. No apparent connection in loan documentation between debts paid at closing and business purpose use of loan proceeds. Current outstanding TRID tolerance item involves missing COC to address the increase in transfer tax. - Due Diligence Vendor-10/13/2023

Ready for Review-Document Uploaded. See PCCD for $22 lender credit - Seller-11/09/2023

Resolved- - Due Diligence Vendor-11/10/2023

Borrower 2 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 2 Has Stable Job Time Of Five (5) Or More Years At Current Job - 19.33 Years

Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 28 Years

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals 0.30555230098288094

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 14.72 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 735 is Greater Than The Guideline Minimum Of 660 By Twenty (20) or More Points

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 19.33 Years

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 33.59% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 14 Years

MILLS CD update.pdf

Non-QM: Lender documented all ATR UW factors

Investment

Refinance

Cash Out - Debt Consolidation

N/A

1211186

74602

Closed

FCRE1195

2023-10-20 08:34

2024-01-19 11:37

Resolved

1 - Information

Credit

Eligibility

Audited CLTV Exceeds Guideline CLTV

Resolved-Audited CLTV of xx is less than or equal to Guideline CLTV of xx - Due Diligence Vendor-11/09/2023
Open-Audited CLTV of xx exceeds Guideline CLTV of xx Per guidelines, max CLTV for cash out with DSCR factor less than 1 with a score is 644 is xx. - Due Diligence Vendor-10/20/2023

Resolved-Audited CLTV of xx is less than or equal to Guideline CLTV of xx - Due Diligence Vendor-11/09/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1223906

74602

Closed

FCRE1194

2023-10-20 08:34

2024-01-19 11:37

Resolved

1 - Information

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Resolved-Audited LTV of xx is less than or equal to Guideline LTV of xx - Due Diligence Vendor-01/19/2024
Resolved-Audited LTV of xx is less than or equal to Guideline LTV of xx - Due Diligence Vendor-11/21/2023
Resolved-Audited LTV of xx is less than or equal to Guideline LTV of xx - Due Diligence Vendor-11/21/2023
Resolved-Rental lease agreement provided reflecting current monthly rental of xx - Due Diligence Vendor-11/09/2023
Ready for Review-Document Uploaded. DSCR ratio is 1.10 Rent of xx/ PITI xx _ using current lease of xx - Seller-11/08/2023
Open-Audited LTV of xx exceeds Guideline LTV of xx Per guidelines, max LTV for cash out with DSCR factor less than 1 with a score is 644 is xx. - Due Diligence Vendor-10/20/2023

Ready for Review-Document Uploaded. DSCR ratio is 1.10 Rent of xx/ PITI xx _ using current lease of xx - Seller-11/08/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

RENTAL AGREEMENT (6).pdf

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1223907

74602

Closed

FCRE1196

2023-10-20 08:34

2024-01-19 11:37

Resolved

1 - Information

Credit

Eligibility

Audited HCLTV Exceeds Guideline HCLTV

Resolved-Audited HCLTV of xx is less than or equal to Guideline HCLTV of xx - Due Diligence Vendor-11/09/2023
Open-Audited HCLTV of xx exceeds Guideline HCLTV of xx Per guidelines, max HCLTV for cash out with DSCR factor less than 1 with a score is 644 is xx. - Due Diligence Vendor-10/20/2023

Resolved-Audited HCLTV of xx is less than or equal to Guideline HCLTV of xx - Due Diligence Vendor-11/09/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1223908

74004

Closed

FCRE9500

2023-10-13 13:55

2024-03-11 14:05

Acknowledged

2 - Non-Material

Credit

Missing Doc

Letter of Explanation (Assets) missing or unexecuted

Acknowledged-Stipulate co-owner of xx # xx xx is borrower's wife and giving implied consent for use in subject purchase - Due Diligence Vendor-03/11/2024
Ready for Review-Document Uploaded. - Seller-03/08/2024
Open-Please provide 100% Access letter for xx Bank statement xx used for qualifying assets. - Due Diligence Vendor-10/13/2023

Ready for Review-Document Uploaded. - Seller-03/08/2024

Acknowledged-Stipulate co-owner of xx # xx xx is borrower's wife and giving implied consent for use in subject purchase - Due Diligence Vendor-03/11/2024

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 734 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 31.64 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null

734 Qualifying score, Strong reserves@closing, Modest/conservative user of credit

custom (61).pdf

ATR/QM: Not Applicable

Investment

Purchase

Originator Pre-Close

Yes

1211344

75513

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74603

Closed

FCRE5790

2023-11-09 10:10

2023-11-10 13:34

Acknowledged

1 - Information

Credit

Closing

Borrower 1 Gap Credit Report is Expired (Greater than 10 Days from Closing/Settlement Date)

Acknowledged-Borrower 1 Gap Credit Report is Expired (Greater than 10 days from Closing/Settlement Date). Gap report is not required - Due Diligence Vendor-11/10/2023

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

1253366

74603

Closed

FCRE5786

2023-11-09 10:10

2023-11-10 13:33

Acknowledged

1 - Information

Credit

Missing Doc

Borrower 1 Gap Credit Report is Incomplete

Acknowledged-Borrower 1 Gap Credit Report is Partially Present. Gap report is not required - Due Diligence Vendor-11/10/2023

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1253365

74971

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74972

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

75514

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74605

ATR/QM: Not Applicable

Investment

Purchase

74606

Closed

FCRE5275

2023-11-16 06:26

2023-12-12 03:46

Resolved

1 - Information

Credit

Eligibility

Asset do not meet guidelines

Resolved-Resolved : Received Bank statement and operating agreement - 12/12
- Due Diligence Vendor-12/12/2023
Ready for Review-Document Uploaded. - Seller-12/11/2023
Counter-Provide bank statement for borower xx ad provided document showing name of xx - Due Diligence Vendor-12/11/2023
Ready for Review-Document Uploaded. - Seller-12/08/2023
Open-The provided asset is not dated within the 90 days prior closing. Provide an updated statement. - Due Diligence Vendor-11/16/2023

Ready for Review-Document Uploaded. - Seller-12/11/2023

Ready for Review-Document Uploaded. - Seller-12/08/2023

Resolved-Resolved : Received Bank statement and operating agreement - 12/12
- Due Diligence Vendor-12/12/2023

BANK STATEMENTS (56).pdf

BANK STATEMENTS (57).pdf

MISC ASSETS (27).pdf

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

N/A

1265044

74227

Closed

FPRO868

2023-10-20 11:39

2024-03-20 11:40

Acknowledged

2 - Non-Material

Property

Third Party Valuation

Desk Review Value(s) Do Not Adhere To Tolerance Criteria

Acknowledged-Per discussion with Rating Agency, it is appropriate to grade this loan as a B as the underwriter used the lower value from the desk review for the Value for LTV and did so prior to the loan closing. - Due Diligence Vendor-03/20/2024
Resolved-Per discussion with Rating Agency, it is appropriate to grade this loan as a B as the underwriter used the lower value from the desk review for the Value for LTV and did so prior to the loan closing. - Due Diligence Vendor-03/20/2024
Counter-While the lower value from the desk review was used to set LTV, the test here is a Rating Agency requirement where there has to be a third party valuation product that supports the appraised value regardless of what value was used to set LTV. - Due Diligence Vendor-11/14/2023
Ready for Review-The lowered value of xx as supported by the desk review was utilized in the UW and calculation of LTV in this transaction. - Seller-11/09/2023
Open-Desk Review Value(s) Do Not Adhere To Tolerance Criteria (Desk Review Value is xx and Appraised Value is xx For a Variance of -22.73%) Appraised Value xx - Desk Review xx with a variance of -22.7%
Per Guidelines: If the enhanced desk review product (ARR, CDA, or ARA) reflects a value more than 10% below the appraised value or cannot provide a validation, the next option would be either a field review or a second appraisal. - Due Diligence Vendor-10/20/2023

Ready for Review-The lowered value of xx as supported by the desk review was utilized in the UW and calculation of LTV in this transaction. - Seller-11/09/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 658 is Greater Than The Guideline Minimum Of 620 By Twenty (20) or More Points

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

Originator Pre-Close

1224325

74607

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74608

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74231

Closed

FCRE1195

2023-10-13 15:39

2024-01-22 04:58

Resolved

1 - Information

Credit

Eligibility

Audited CLTV Exceeds Guideline CLTV

Resolved-Audited CLTV of xx is less than or equal to Guideline CLTV of xx - Due Diligence Vendor-01/22/2024
Resolved-Audited CLTV of xx is less than or equal to Guideline CLTV of xx - Due Diligence Vendor-01/22/2024
Resolved-Audited CLTV of xx is less than or equal to Guideline CLTV of xx - Due Diligence Vendor-11/13/2023
Open-Audited CLTV of xx exceeds Guideline CLTV of xx Max LTV for cash out refinance DSCR less than 1 is xx. - Due Diligence Vendor-10/13/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 18.56 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 11 Years

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1211684

74231

Closed

FCRE1194

2023-10-13 15:39

2024-01-22 04:58

Resolved

1 - Information

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Resolved-Audited LTV of xx is less than or equal to Guideline LTV of xx - Due Diligence Vendor-11/13/2023
Ready for Review-Document Uploaded. See attached . Borrower score 703 DSCR >1; cash out to xx meets guidelines - Seller-11/13/2023
Open-Audited LTV of xx exceeds Guideline LTV of xx Max LTV for cash out refinance DSCR less than 1 is xx. - Due Diligence Vendor-10/13/2023

Ready for Review-Document Uploaded. See attached . Borrower score 703 DSCR >1; cash out to xx meets guidelines - Seller-11/13/2023

Resolved-Audited LTV of xx is less than or equal to Guideline LTV of xx - Due Diligence Vendor-11/13/2023

0565_001.pdf

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1211686

74231

Closed

FCRE1196

2023-10-13 15:39

2024-01-22 04:58

Resolved

1 - Information

Credit

Eligibility

Audited HCLTV Exceeds Guideline HCLTV

Resolved-Audited HCLTV of xx is less than or equal to Guideline HCLTV of xx - Due Diligence Vendor-01/22/2024
Resolved-Audited HCLTV of xx is less than or equal to Guideline HCLTV of xx - Due Diligence Vendor-01/22/2024
Resolved-Audited HCLTV of xx is less than or equal to Guideline HCLTV of xx - Due Diligence Vendor-11/13/2023
Open-Audited HCLTV of xx exceeds Guideline HCLTV of xx Max LTV for cash out refinance DSCR less than 1 is xx. - Due Diligence Vendor-10/13/2023

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1211687

74609

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74610

Closed

finding-3719

2023-10-30 12:23

2024-03-18 13:04

Resolved

1 - Information

Compliance

TRID Tolerance

TILA Post-Consummation Revised Closing Disclosure Finance Charge Test

Resolved-PCCD received correcting fee name error in Sec A - Due Diligence Vendor-03/18/2024
Counter-Document Uploaded. - Due Diligence Vendor-03/18/2024
Counter-Received unexecuted copy of the CD issued XX/XX/XXXX, this document does not resolve the finding. Per PCCD on page 711 of the original Credit package reviewed, there is a Home Warranty Fee in the amount of $1895.00 in Section A that was not previously disclosed in Section A. - Due Diligence Vendor-12/09/2023
Open-This loan failed the TILA finance charge test.( 12 CFR §1026.18(d)(1) , transferred from 12 CFR §226.18(d)(1) )The finance charge is $492,586.32. The disclosed finance charge of $490,691.32 is not considered accurate because it is understated by more than $100. PCCD indicates the lender added an additional Home Warranty Fee of $1895 to Section A. Fees in Section A are subject to zero percent tolerance post-closing. It appears the same was not included in the lender’s post-close finance charge calculations. - Due Diligence Vendor-10/30/2023

Resolved-PCCD received correcting fee name error in Sec A - Due Diligence Vendor-03/18/2024

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

xx.pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1236417

74610

Closed

finding-3631

2023-10-30 12:23

2024-03-18 13:04

Resolved

1 - Information

Compliance

Points & Fees

Reimbursement Amount Validation Test

Resolved-PCCD received correcting fee name error in Sec A - Due Diligence Vendor-03/18/2024

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1236418

74610

Closed

finding-3632

2023-10-30 12:23

2024-03-18 13:04

Resolved

1 - Information

Compliance

Disclosures (Federal, State, and Data Dependent)

Consummation or Reimbursement Date Validation Test

Resolved-PCCD received correcting fee name error in Sec A - Due Diligence Vendor-03/18/2024

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1236419

74610

Closed

finding-3634

2023-10-30 12:23

2024-03-18 13:04

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-PCCD received correcting fee name error in Sec A - Due Diligence Vendor-03/18/2024
Counter-Received unexecuted copy of the CD issued XX/XX/XXXX, this document does not resolve the finding. Per PCCD on page 711 of the original Credit package reviewed, there is a Home Warranty Fee in the amount of $1895.00 in Section A that was not previously disclosed in Section A. - Due Diligence Vendor-12/09/2023
Ready for Review-Document Uploaded. There is no home warranty in section A - see attached PCCD - Seller-12/08/2023
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 $1,895.00.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). **PCCD indicates the lender added an additional Home Warranty Fee of $1895 to Section A. Fees in Section A are subject to zero percent tolerance post-closing. It appears the same was not included in the lender’s post-close finance charge calculations. - Due Diligence Vendor-10/30/2023

Ready for Review-Document Uploaded. There is no home warranty in section A - see attached PCCD - Seller-12/08/2023

Resolved-PCCD received correcting fee name error in Sec A - Due Diligence Vendor-03/18/2024

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

FINAL HUD-I (19).pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1236420

74610

Closed

FCRE1167

2023-10-27 16:25

2023-12-11 04:45

Resolved

1 - Information

Credit

Insurance

Inadequate Hazard Insurance Coverage - Amount of coverage is less than primary lien amount and the Replacement Cost Value Estimator was not Provided by the Insurer

Resolved-Sufficent Hazard Insurance Coverage is provided - Due Diligence Vendor-12/11/2023
Ready for Review-Policy includes Replacement cost coverage so we have adequate coverage
- Seller-12/08/2023
Open-Inadequate Hazard Insurance Coverage and Replacement Cost Estimator was not Provided - Hazard Insurance Coverage in the amount of xx is less than the minimum required coverage amount of xx - Due Diligence Vendor-10/27/2023

Ready for Review-Policy includes Replacement cost coverage so we have adequate coverage
- Seller-12/08/2023

Resolved-Sufficent Hazard Insurance Coverage is provided - Due Diligence Vendor-12/11/2023

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1234960

74610

Closed

FCRE1193

2023-10-27 08:28

2023-11-14 07:33

Acknowledged

2 - Non-Material

Credit

Eligibility

Audited DTI Exceeds Guideline DTI

Acknowledged-Approved Lender Exception: EXCEPTION FOR DTI TO BE 50.98%. - Due Diligence Vendor-11/14/2023
Ready for Review-Document Uploaded. - Seller-11/13/2023
Open-Audited DTI of 50.98% exceeds Guideline DTI of 50% Provide a copy of payoff statement for below tradelines :

xx
xx
xx
xx
xx
xx
xx
xx
- Due Diligence Vendor-10/27/2023

Ready for Review-Document Uploaded. - Seller-11/13/2023

Acknowledged-Approved Lender Exception: EXCEPTION FOR DTI TO BE 50.98%. - Due Diligence Vendor-11/14/2023

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

25 MONTHS OF RESERVE AFTER CLOSING.

xx xx Exception approval.pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

Originator Pre-Close

Yes

1233947

74611

Closed

FCRE1194

2023-11-09 03:03

2023-12-13 12:33

Resolved

1 - Information

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Resolved-Audited LTV of xx is less than or equal to Guideline LTV of xx - Due Diligence Vendor-11/27/2023
Ready for Review-Document Uploaded. DSCR > 1 at 760 score allows forxx TLV max, so with 5% reduction, max is xx per attached matrix so LTV is acceptable - Seller-11/22/2023
Open-Audited LTV of xx exceeds Guideline LTV of xx Audited LTV of xx exceeds Guideline CLTV of xx, as per lender guideline for vacant properties 5%LTV reduction - Due Diligence Vendor-11/09/2023

Ready for Review-Document Uploaded. DSCR > 1 at 760 score allows forxx TLV max, so with 5% reduction, max is xx per attached matrix so LTV is acceptable - Seller-11/22/2023

Resolved-Audited LTV of xx is less than or equal to Guideline LTV of xx - Due Diligence Vendor-11/27/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 26.08 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 760 is Greater Than The Guideline Minimum Of 680 By Twenty (20) or More Points

0673_001.pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1252742

74612

Closed

FCRE1500

2023-10-20 12:39

2023-11-10 08:16

Resolved

1 - Information

Credit

Borrower

Borrower Identification Documentation Missing

Resolved-ITIN Letter Provided. - Due Diligence Vendor-11/10/2023

Ready for Review-Document Uploaded. ITIN Letter attached - Seller-11/09/2023

Open-Borrower is Non- Permanent resident, lender guideline required VISA which is missing in the loan file.
- Due Diligence Vendor-10/20/2023

Ready for Review-Document Uploaded. ITIN Letter attached - Seller-11/09/2023

Resolved-ITIN Letter Provided. - Due Diligence Vendor-11/10/2023

Borrower At Current Residence For Five (5) Or More Years - Validated

Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Validated

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Validated

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Validated

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals 0.27375

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 18.41 Years Validated

Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Validated

RESIDENT ALIEN CARD (15).pdf

RESIDENT ALIEN CARD (16).pdf

RESIDENT ALIEN CARD (17).pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Refinance

No Cash Out - Borrower Initiated

N/A

1224449

74236

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74613

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74614

Closed

FCOM8845

2023-11-02 02:56

2023-12-07 12:25

Resolved

1 - Information

Compliance

State Reg

Prepayment Penalty charged on Business Purpose loan where State Does not permit.

Resolved-Resolved : Received explanation that it is allowed for inflation adjustment. - Due Diligence Vendor-12/07/2023
Ready for Review-From our attorney:
Definition of Residential Mortgage – obligation to pay upon “real property located within this state containing two or fewer residential units…” Ohio looks to the nature of the property itself, not to the relationship of the property to the owner.

Ohio Revised Code Section 1343.011(C)(1) - https://codes.ohio.gov/ohio-revised-code/section-1343.011

(C)(1) – except as provided in (C)(2), residential mortgage loans can be repaid without penalty at any time after five years from execution date of mortgage. Before five years, a prepayment penalty may be provided not in excess of one percent of the original principal amount of the residential mortgage.

(C)(2)(a) – no PPP of residential mortgage obligation of less than $75k (adjusted for inflation) for a first lien.

(C)(2)(b) – allows for inflation adjustment.
- Seller-12/06/2023
Open-The subject property's state, OH, does not allow pre-payment penalties for Business Purpose loans. subject is a business purpose loan with a prepayment penalty which is not allowed in OH - Due Diligence Vendor-11/02/2023

Ready for Review-From our attorney:
Definition of Residential Mortgage – obligation to pay upon “real property located within this state containing two or fewer residential units…” Ohio looks to the nature of the property itself, not to the relationship of the property to the owner.

Ohio Revised Code Section 1343.011(C)(1) - https://codes.ohio.gov/ohio-revised-code/section-1343.011

(C)(1) – except as provided in (C)(2), residential mortgage loans can be repaid without penalty at any time after five years from execution date of mortgage. Before five years, a prepayment penalty may be provided not in excess of one percent of the original principal amount of the residential mortgage.

(C)(2)(a) – no PPP of residential mortgage obligation of less than $75k (adjusted for inflation) for a first lien.

(C)(2)(b) – allows for inflation adjustment.
- Seller-12/06/2023

Resolved-Resolved : Received explanation that it is allowed for inflation adjustment. - Due Diligence Vendor-12/07/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals null

ATR/QM: Not Applicable

Investment

Purchase

N/A

1241288

74973

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74615

Closed

FCRE1167

2023-11-22 07:27

2024-03-11 11:18

Resolved

1 - Information

Credit

Insurance

Inadequate Hazard Insurance Coverage - Amount of coverage is less than primary lien amount and the Replacement Cost Value Estimator was not Provided by the Insurer

Resolved-Sufficent Hazard Insurance Coverage is provided - Due Diligence Vendor-03/11/2024
Ready for Review-Dec page includes 20% Replacement cost. xx x 20% = xx for total coverage of xx - Seller-03/08/2024
Open-Inadequate Hazard Insurance Coverage and Replacement Cost Estimator was not Provided - Hazard Insurance Coverage in the amount of xx is less than the minimum required coverage amount of xx Provide a copy RCE as dwelling amount (xx) is not sufficient to cover the loan amount (xx).
- Due Diligence Vendor-11/22/2023

Ready for Review-Dec page includes 20% Replacement cost. xx x 20% = xx for total coverage of xx - Seller-03/08/2024

Resolved-Sufficent Hazard Insurance Coverage is provided - Due Diligence Vendor-03/11/2024

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 14.58% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals 0.3612057063966866

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 110.14 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 24.08 Years

Borrower 2 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 2 Has Stable Job Time Of Five (5) Or More Years At Current Job - 24.08 Years

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 8 Years

Non-QM: Lender documented all ATR UW factors

Primary Residence

Refinance

Cash Out - Other

N/A

1273542

74615

Closed

finding-3632

2023-11-22 09:45

2024-02-07 08:38

Resolved

1 - Information

Compliance

Disclosures (Federal, State, and Data Dependent)

Consummation or Reimbursement Date Validation Test

Resolved- - Due Diligence Vendor-02/07/2024

Open-This loan failed the closing or reimbursement date validation test.The loan failed one or more tolerance tests and did not provide either a reimbursement date or a consummation date (or closing / settlement date, if consummation date is not available). This information is necessary in order to correctly perform reimbursement calculations. - Due Diligence Vendor-11/22/2023

Resolved- - Due Diligence Vendor-02/07/2024

Non-QM: Lender documented all ATR UW factors

Primary Residence

Refinance

Cash Out - Other

N/A

1273826

74615

Closed

finding-3631

2023-11-22 09:45

2024-02-07 08:38

Resolved

1 - Information

Compliance

Points & Fees

Reimbursement Amount Validation Test

Resolved- - Due Diligence Vendor-02/07/2024

Open-This loan failed the reimbursement amount validation test.The loan failed one or more tolerance tests and did not provide a reimbursement amount. This information is necessary in order to correctly perform reimbursement calculations. - Due Diligence Vendor-11/22/2023

Resolved- - Due Diligence Vendor-02/07/2024

Non-QM: Lender documented all ATR UW factors

Primary Residence

Refinance

Cash Out - Other

N/A

1273825

74615

Closed

finding-3635

2023-11-22 09:45

2024-02-07 08:38

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That In Total Cannot Increase More Than 10% Test

Resolved- - Due Diligence Vendor-02/07/2024

Open-This loan failed the charges that in total cannot increase more than 10% test. (12 CFR §1026.19(e)(3)(ii))The loan contains third-party services that the consumer was permitted to shop for and the charges exceed the good faith tolerance according to §1026.19(e)(3)(ii). The final charges that in total cannot increase more than 10% ($2,933.10) exceed the comparable charges ($1,039.00) by more than 10%. Please see the table that displays the Charges That Cannot Increase More Than 10% for a comparison of the data between the provided disclosures.An estimate of a charge for a third-party service or a recording fee is in good faith if:(A) The aggregate amount of charges for third-party services and recording fees paid by or imposed on the consumer does not exceed the aggregate amount of such charges disclosed under §1026.19(e)(1)(i) by more than 10 percent;(B) The charge for the third-party service is not paid to the creditor or an affiliate of the creditor; and(C) The creditor permits the consumer to shop for the third-party service, consistent with §1026.19(e)(1)(vi). Initial LE dated 9/11/2023 Lender title insurance fee in section C of $2164.00. In initial CD dated 10/05/2023 fee was moved from section C to B, also increased from $2164.00 to $2245.10. Loan package COC is missing for fee increased. - Due Diligence Vendor-11/24/2023

Resolved- - Due Diligence Vendor-02/07/2024

Non-QM: Lender documented all ATR UW factors

Primary Residence

Refinance

Cash Out - Other

N/A

1273828

74024

Closed

FVAL9739

2023-10-05 08:25

2024-03-11 11:38

Resolved

1 - Information

Property

Appraisal

Property/Appraisal General

Resolved-Received updated appraisal with PUD marked. - Due Diligence Vendor-03/11/2024

Ready for Review-Document Uploaded. - Seller-03/08/2024

Open-Per the mortgage and the title the subject property is a PUD. Appraisal does not identify the subject as a PUD. - Due Diligence Vendor-10/05/2023

Ready for Review-Document Uploaded. - Seller-03/08/2024

Resolved-Received updated appraisal with PUD marked. - Due Diligence Vendor-03/11/2024

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 778 is Greater Than The Guideline Minimum Of 720 By Twenty (20) or More Points

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 38.16% Is Less Than The Guideline Maximum Of 45% By Five Percent (5%) Or More

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 25.56 Are Greater Than The Guideline Minimum Of 12 By Six (6) Or More Months

A91qndtdq_ka95gu_9mc.pdf

APPRAISAL - 2024-03-08T124730.931.pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1195230

74024

Closed

FCOM5135

2023-10-04 16:23

2023-10-09 16:56

Resolved

1 - Information

Compliance

Missing Doc - Federal Disclosure

Required Affiliated Business Disclosure Missing

Resolved-Attestation re no affiliates received from lender. - Due Diligence Vendor-10/09/2023

Ready for Review-Document Uploaded. - Seller-10/09/2023

Counter-***If the lender does not have any affiliates or their affiliates do not provide settlement services then it can provide an attestation on company letterhead. A written attestation of no affiliates is acceptable to clear finding. - Due Diligence Vendor-10/06/2023

Ready for Review-We have no affiliations therefore the affiliated business disclosure does not apply - Seller-10/06/2023

Open-Original files does not contain a copy of the Affiliated Business Disclosure or evidence it was provided to the borrower. Lender to provide a copy and evidence it was provided to the borrower. If lender does not have any affiliates or if its affiliates do not offer settlement services then the lender can provide an attestation letter on company letterhead. - Due Diligence Vendor-10/05/2023

Open-Required Affiliated Business Disclosure Missing - Due Diligence Vendor-10/04/2023

Ready for Review-Document Uploaded. - Seller-10/09/2023

Ready for Review-We have no affiliations therefore the affiliated business disclosure does not apply - Seller-10/06/2023

Resolved-Attestation re no affiliates received from lender. - Due Diligence Vendor-10/09/2023

LOE re affiliations.pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1194019

74617

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74026

ATR/QM: Not Applicable

Investment

Purchase

75515

Non-QM: Lender documented all ATR UW factors

Primary Residence

Refinance

No Cash Out - Borrower Initiated

75516

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75517

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74028

Closed

FPRO1508

2023-10-10 12:42

2024-03-11 11:45

Acknowledged

2 - Non-Material

Property

Property Issue

Property Characteristics Do Not Meet Guideline Requirements

Acknowledged-Appraiser notes "The stone walkway leading up to the dwelling is uneven, the result of which presents a tripping/fall hazard." This is considered a safety issue and no documentation was provided to evidence this issue was corrected prior to closing. - Due Diligence Vendor-03/11/2024

Ready for Review-Document Uploaded. - Seller-03/08/2024

Open-Appraiser notes "The stone walkway leading up to the dwelling is uneven, the result of which presents a tripping/fall hazard." This is considered a safety issue and no documentation was provided to evidence this issue was corrected prior to closing. - Due Diligence Vendor-10/10/2023

Ready for Review-Document Uploaded. - Seller-03/08/2024

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 760 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 13.08 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

760 Qualifying score, strong reserves@closing, Appraisal is made 'as is', Typical for mountain style home.

custom (62).pdf

ATR/QM: Not Applicable

Investment

Purchase

Originator Pre-Close

Yes

1203216

74618

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

75518

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74620

ATR/QM: Not Applicable

Investment

Purchase

74249

Closed

FCOM1209

2023-10-24 06:35

2023-11-17 12:27

Resolved

1 - Information

Compliance

Closing Package

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

Resolved-Received the note prepay penalty addendum.  - Due Diligence Vendor-11/17/2023

Ready for Review-Document Uploaded.  - Seller-11/17/2023

Open-Note Does Not Indicate a Prepayment Penalty but CD Indicates a Prepayment Penalty Provide prepayment addendum to note as it is missing in the loan file.  - Due Diligence Vendor-10/24/2023

Ready for Review-Document Uploaded. - Seller-11/17/2023

Resolved-Received the note prepay penalty addendum. - Due Diligence Vendor-11/17/2023

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 723 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals null

xx.pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1227798

75519

ATR/QM: Not Applicable

Investment

Purchase

74621

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74623

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74624

Closed

FCOM8846

2023-10-23 23:54

2024-03-11 14:09

Resolved

1 - Information

Compliance

State Reg

Business Purpose, Prepayment Penalty Restriction - Illinois

Resolved-Resolved : Received rebuttal stating that For xx County, if the loan is a threshold loan, then it has the potential to be a predatory loan, and restrictions apply. However, a business purpose loan is excluded from the definition of a threshold loan – and cannot be a predatory loan. From the xx County rule: “However, the term “threshold loan” shall not include a loan that is made primarily for a business purpose unrelated to the residential real property securing the loan and shall not include a loan with a total loan amount over $250,000.” - Due Diligence Vendor-03/11/2024
Open- - Due Diligence Vendor-03/11/2024
Resolved-Resolved : Received rebuttal stating that For xx County, if the loan is a threshold loan, then it has the potential to be a predatory loan, and restrictions apply. However, a business purpose loan is excluded from the definition of a threshold loan – and cannot be a predatory loan. From the xx County rule: “However, the term “threshold loan” shall not include a loan that is made primarily for a business purpose unrelated to the residential real property securing the loan and shall not include a loan with a total loan amount over $250,000.” - Due Diligence Vendor-12/14/2023
Ready for Review-For xx County, if the loan is a threshold loan, then it has the potential to be a predatory loan, and restrictions apply. However, a business purpose loan is excluded from the definition of a threshold loan – and cannot be a predatory loan.

From the xx County rule:

“However, the term “threshold loan” shall not include a loan that is made primarily for a business purpose unrelated to the residential real property securing the loan and shall not include a loan with a total loan amount over $250,000.”

- Seller-12/12/2023
Open-The subject property's state, IL, does not allow pre-payment penalties for Business Purpose loans where the interest rate exceeds 8% (If xx County, Loan amount cannot be less than $250k as well - Due Diligence Vendor-10/24/2023

Ready for Review-For xx County, if the loan is a threshold loan, then it has the potential to be a predatory loan, and restrictions apply. However, a business purpose loan is excluded from the definition of a threshold loan – and cannot be a predatory loan.

From the xx County rule:

“However, the term “threshold loan” shall not include a loan that is made primarily for a business purpose unrelated to the residential real property securing the loan and shall not include a loan with a total loan amount over $250,000.”

- Seller-12/12/2023

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 23 Years

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 102.8 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 815 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1227455

74624

Closed

FCRE1159

2023-10-24 00:15

2023-12-14 03:40

Resolved

1 - Information

Credit

Insurance

Hazard Insurance Effective Date is after the Disbursement Date

Resolved-Resolved : Received HOI policy which is active at the time of closing. - Due Diligence Vendor-12/14/2023
Ready for Review-Document Uploaded. See previous coverage attached. - Seller-12/13/2023
Counter- - Due Diligence Vendor-12/12/2023
Resolved-Resolved : Received settlement statement and insurance policy is effective before disbursement date. - Due Diligence Vendor-12/12/2023
Ready for Review-Document Uploaded. Final CD attached confirms disbursement date. Insurance must be active on or prior to disbursement date - Seller-12/11/2023
Open-Hazard Insurance Effective Date of xx is after the Disbursement Date of xx Hazard Insurance Effective Date of xx - Due Diligence Vendor-10/24/2023

Ready for Review-Document Uploaded. See previous coverage attached. - Seller-12/13/2023

Ready for Review-Document Uploaded. Final CD attached confirms disbursement date. Insurance must be active on or prior to disbursement date - Seller-12/11/2023

Resolved-Resolved : Received HOI policy which is active at the time of closing. - Due Diligence Vendor-12/14/2023

Resolved-Resolved : Received settlement statement and insurance policy is effective before disbursement date. - Due Diligence Vendor-12/12/2023

FINAL HUD-1 SIGNED - 2023-12-11T125502.050.pdf

insurance.pdf

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1227467

74624

Closed

FCRE1345

2023-10-26 17:23

2023-11-10 08:42

Resolved

1 - Information

Credit

Missing Doc - Income

Borrower 1 Lease Agreements Missing

Resolved-Lease Agreement Provided. - Due Diligence Vendor-11/10/2023

Ready for Review-Document Uploaded. - Seller-11/09/2023

Open-Subject is Tenant Occupied , however lease agreement is missing in file. DSCR to be recalculated. - Due Diligence Vendor-10/26/2023

Ready for Review-Document Uploaded. - Seller-11/09/2023

Resolved-Lease Agreement Provided. - Due Diligence Vendor-11/10/2023

RENTAL AGREEMENT (7).pdf

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1233234

74625

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74626

ATR/QM: Not Applicable

Investment

Purchase

74627

ATR/QM: Not Applicable

Investment

Purchase

74628

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74975

Closed

FCRE1195

2023-11-08 17:44

2024-01-22 09:54

Resolved

1 - Information

Credit

Eligibility

Audited CLTV Exceeds Guideline CLTV

Resolved-Audited CLTV of xx is less than or equal to Guideline CLTV of xx - Due Diligence Vendor-01/22/2024
Resolved-Audited CLTV of xx is less than or equal to Guideline CLTV of xx - Due Diligence Vendor-01/06/2024
Open-Audited CLTV of xx exceeds Guideline CLTV of xx CLTV of xx exceeds Guideline CLTV of xx - Due Diligence Vendor-11/08/2023

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1252277

74975

Closed

FCRE1194

2023-11-08 17:44

2024-01-22 09:54

Resolved

1 - Information

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Resolved-Audited LTV of xx is less than or equal to Guideline LTV of xx - Due Diligence Vendor-01/06/2024
Resolved-Resolved : Guidelines allow xx LTV for purchase transactions - Due Diligence Vendor-01/04/2024
Ready for Review-Guidelines allow xx LTV for purchase transactions - Seller-01/03/2024
Open-Audited LTV of xx exceeds Guideline LTV of xx LTV of xx exceeds Guideline LTV of xx - Due Diligence Vendor-11/08/2023

Ready for Review-Guidelines allow xx LTV for purchase transactions - Seller-01/03/2024

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1252280

74975

Closed

FCRE1198

2023-11-08 17:44

2024-01-22 09:54

Resolved

1 - Information

Credit

Eligibility

Audited Reserves are less than Guideline Required Reserves (Number of Months)

Resolved-Audited Reserves of 6.29 are greater than or equal to Guideline Required Reserves of 6 - Due Diligence Vendor-01/06/2024
Ready for Review-EMD xx; xx #xx xx; xx xx xx; Gift funds xx total assets of xx - Seller-01/06/2024
Counter-Not Resolved : Verified asset is xx #xx xx  & xx #xx and xx Total asset is xx. provide a copy of updated bank statement which reflects total asset of xx - Due Diligence Vendor-01/04/2024
Ready for Review-Borrower has 6 months reserves.  Verified assets xx total cash to close $66,739, remaining supports 6 months PITI reserves - Seller-01/03/2024
Open-Audited Reserves of  are less than Guideline Required Reserves of 6 - Due Diligence Vendor-11/08/2023

Ready for Review-EMD xx; xx #xx xx; xx xx xx; Gift funds xx total assets of xx - Seller-01/06/2024
Ready for Review-Borrower has 6 months reserves. Verified assets xx total cash to close $66,739, remaining supports 6 months PITI reserves - Seller-01/03/2024

Resolved-Audited Reserves of 6.29 are greater than or equal to Guideline Required Reserves of 6 - Due Diligence Vendor-01/06/2024

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1252281

74975

Closed

FCRE1196

2023-11-08 17:44

2024-01-22 09:54

Resolved

1 - Information

Credit

Eligibility

Audited HCLTV Exceeds Guideline HCLTV

Resolved-Audited HCLTV of xx is less than or equal to Guideline HCLTV of xx - Due Diligence Vendor-01/06/2024
Open-Audited HCLTV of xx exceeds Guideline HCLTV of xx HCLTV of xx exceeds Guideline HCLTV of xx - Due Diligence Vendor-11/08/2023

Resolved-Audited HCLTV of xx is less than or equal to Guideline HCLTV of xx - Due Diligence Vendor-01/06/2024

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1252282

74976

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74630

ATR/QM: Not Applicable

Investment

Purchase

74632

ATR/QM: Not Applicable

Investment

Refinance

No Cash Out - Borrower Initiated

75521

Closed

FVAL9739

2023-12-16 07:14

2023-12-18 08:50

Acknowledged

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Acknowledged- - Due Diligence Vendor-12/18/2023

Open-EXCEPTION FOR 6.4 ACRE RURAL PROPROPERTY

Exception approval present in loan file. - Due Diligence Vendor-12/16/2023

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 693 is Greater Than The Guideline Minimum Of 660 By Twenty (20) or More Points
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 24.45 Are Greater Than The Guideline Minimum Of 0 By Six (6) Or More Months
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 7.0 Years
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More

DSCR RATIO > 1.10. 3-YEAR PPP. 0X30X12 HOUSING FOR SUBJECT

ESTABLISHED CREDIT TRADELINES – NO DEROGS. EXPERIENCED INVESTOR. 6+ MORESERVES OUTSIDE OF THE CASH-IN-HAND FROM THIS CLOSING.

ATR/QM: Not Applicable

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1318818

74633

Non-QM: Lender documented all ATR UW factors

Second Home

Purchase

74634

Closed

FCRE1316

2023-11-15 12:57

2023-12-11 04:31

Resolved

1 - Information

Credit

Missing Doc - Employment

Borrower 1 3rd Party VOE Prior to Close Missing

Resolved-Borrower 1 3rd Party VOE Prior to Close Was Provided - Due Diligence Vendor-12/11/2023

Ready for Review-Document Uploaded. - Seller-12/08/2023

Open-Borrower 1 3rd Party VOE Prior to Close Missing Missing in loan file. - Due Diligence Vendor-11/15/2023

Ready for Review-Document Uploaded. - Seller-12/08/2023

Resolved-Borrower 1 3rd Party VOE Prior to Close Was Provided - Due Diligence Vendor-12/11/2023

VERBAL VOE BORROWER (5).pdf

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

N/A

1263727

74635

Closed

FCRE1198

2023-11-16 02:08

2024-03-08 16:33

Resolved

1 - Information

Credit

Eligibility

Audited Reserves are less than Guideline Required Reserves (Number of Months)

Resolved-Borrower is getting cash back from concurrent transaction which is sufficient to cover reserve requirement.
- Due Diligence Vendor-03/08/2024
Open- - Due Diligence Vendor-01/19/2024
Resolved-Borrower is getting cash back from concurrent transaction which is sufficient to cover reserve requirement. - Due Diligence Vendor-12/11/2023
Ready for Review-Document Uploaded. HUD from 2ns on xx. provides sufficient cash to close and reserves - Seller-12/08/2023
Open-Audited Reserves of 3.13 are less than Guideline Required Reserves of 6 As per loan file assets are not sufficient to cover the reserve requirement. Available assets are xx & Cash from borrower is $226,066.86. Remaining assets are xx and reserves required is $42,463.38 (6 months * 7077.23). Hence assets are falling short by $1459.12 ($41,004.26 - $42,463.38) Provide additional assets to fulfill reserve requirement. - Due Diligence Vendor-11/16/2023

Ready for Review-Document Uploaded. HUD from 2ns on xx. provides sufficient cash to close and reserves - Seller-12/08/2023

Resolved-Borrower is getting cash back from concurrent transaction which is sufficient to cover reserve requirement.
- Due Diligence Vendor-03/08/2024

Resolved-Borrower is getting cash back from concurrent transaction which is sufficient to cover reserve requirement. - Due Diligence Vendor-12/11/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals 1.4235365853658537

MISC ASSETS (26).pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1264806

74635

Closed

FCRE1241

2023-11-16 01:06

2023-12-11 04:03

Resolved

1 - Information

Credit

Missing Doc - Property

Purchase Contract is Missing

Resolved-Resolved : Transaction is FSBO see sale escrow instructions, no purchase contract required - Due Diligence Vendor-12/11/2023

Ready for Review-Document Uploaded. Transaction is FSBO see sale escrow instructions, no purchase contract provided - Seller-12/08/2023

Open-Purchase Contract Is Missing Purchase Contract missing in loan file. - Due Diligence Vendor-11/16/2023

Ready for Review-Document Uploaded. Transaction is FSBO see sale escrow instructions, no purchase contract provided - Seller-12/08/2023

Resolved-Resolved : Transaction is FSBO see sale escrow instructions, no purchase contract required - Due Diligence Vendor-12/11/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals 1.4235365853658537

ESCROW INSTRUCTIONS (11).pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1264708

74636

Closed

FCRE1157

2023-11-03 04:30

2023-11-21 07:06

Resolved

1 - Information

Credit

Missing Doc - Insurance

Hazard Insurance Policy is Missing

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-11/21/2023

Ready for Review-Document Uploaded. - Seller-11/20/2023

Open-Missing Hazard Insurance Policy Provide a copy of HOI policy as it is missing in the loan file. - Due Diligence Vendor-11/03/2023

Ready for Review-Document Uploaded. - Seller-11/20/2023

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-11/21/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals null
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 753 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More
Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 6.58 Years

HAZARD INSURANCE - 2023-11-20T123034.201.pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1243446

74978

ATR/QM: Not Applicable

Investment

Refinance

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

74638

Closed

FCRE1200

2023-12-13 12:55

2023-12-13 12:56

Resolved

1 - Information

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Resolved-Audited Loan Amount of xx is greater than or equal to the Guideline Minimum Loan Amount of xx - Due Diligence Vendor-12/13/2023
Open-Audited Loan Amount of is less than the Guideline Minimum Loan Amount of xx - Due Diligence Vendor-12/13/2023

Resolved-Audited Loan Amount of xx is greater than or equal to the Guideline Minimum Loan Amount of xx - Due Diligence Vendor-12/13/2023

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1311741

74638

Closed

FCRE1197

2023-12-13 12:55

2023-12-13 12:56

Resolved

1 - Information

Credit

Eligibility

Audited FICO is less than Guideline FICO

Resolved-Audited FICO of 758 is greater than or equal to Guideline FICO of 700 - Due Diligence Vendor-12/13/2023

Open-Audited FICO of is less than Guideline FICO of 700 - Due Diligence Vendor-12/13/2023

Resolved-Audited FICO of 758 is greater than or equal to Guideline FICO of 700 - Due Diligence Vendor-12/13/2023

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1311742

74639

Non-QM: Lender documented all ATR UW factors

Second Home

Purchase

74979

ATR/QM: Not Applicable

Investment

Purchase

74640

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74641

Closed

FCRE1159

2023-11-14 17:04

2023-12-11 04:23

Resolved

1 - Information

Credit

Insurance

Hazard Insurance Effective Date is after the Disbursement Date

Resolved-Resolved : Received borrower copy of CD which reflecting disbursement date is xx. - Due Diligence Vendor-12/11/2023
Ready for Review-Document Uploaded. Disbursement datexx - see final HUD attached - Seller-12/08/2023
Open-Hazard Insurance Effective Date of xx is after the Disbursement Date of xx Hazard Insurance Effective Date of xx is not covers the disbursement date of xx. - Due Diligence Vendor-11/14/2023

Ready for Review-Document Uploaded. Disbursement datexx - see final HUD attached - Seller-12/08/2023

Resolved-Resolved : Received borrower copy of CD which reflecting disbursement date is xx. - Due Diligence Vendor-12/11/2023

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 27.16 Years
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 748 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 34.68 Are Greater Than The Guideline Minimum Of 0 By Six (6) Or More Months
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More
Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null

FINAL HUD-I (20).pdf

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1262304

74642

Closed

FCRE1259

2023-11-13 04:45

2024-01-19 00:36

Resolved

1 - Information

Credit

Missing Doc - Approval Info

Collateral Underwriter Partially Provided

Resolved-Collateral Underwriter Fully Provided or Not Applicable - Due Diligence Vendor-01/19/2024

Resolved-Resolved : Received SSR report- 12/11 - Due Diligence Vendor-12/11/2023

Ready for Review-Document Uploaded. CU score of 1 is on bottom of page 1 - Seller-12/08/2023

Open-Please verify Collateral Underwriter Score Provided is actually Partial. Validated - Due Diligence Vendor-11/13/2023

Ready for Review-Document Uploaded. CU score of 1 is on bottom of page 1 - Seller-12/08/2023

Resolved-Collateral Underwriter Fully Provided or Not Applicable - Due Diligence Vendor-01/19/2024

Resolved-Resolved : Received SSR report- 12/11 - Due Diligence Vendor-12/11/2023

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 17.67 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months

Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 10.08 Years

FNMA & FHLMC SUCCESSFUL UCDP (34).pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1258057

74980

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74981

Closed

FCRE1468

2023-11-02 08:23

2023-11-27 01:40

Resolved

1 - Information

Credit

Missing Doc - Assets

Asset 2 Missing

Resolved-Asset 2 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023
Resolved-Asset 2 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023
Ready for Review-Document Uploaded. See corrected 1003 - Seller-11/22/2023
Open-Asset 2 Missing Asset documentation missing for xx #xx - Due Diligence Vendor-11/02/2023

Ready for Review-Document Uploaded. See corrected 1003 - Seller-11/22/2023

Resolved-Asset 2 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023

Resolved-Asset 2 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023

Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 11.75 Years
Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 11.75 Years
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 763 is Greater Than The Guideline Minimum Of 720 By Twenty (20) or More Points
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 34.69 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months

0671_001.pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1241660

74981

Closed

FCRE1469

2023-11-02 08:23

2023-11-27 01:40

Resolved

1 - Information

Credit

Missing Doc - Assets

Asset 3 Missing

Resolved-Asset 3 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023
Resolved-Asset 3 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023
Ready for Review-Document Uploaded. See corrected 1003 - Seller-11/22/2023
Open-Asset 3 Missing Asset documentation missing for xx #xx - Due Diligence Vendor-11/02/2023

Ready for Review-Document Uploaded. See corrected 1003 - Seller-11/22/2023

Resolved-Asset 3 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023

Resolved-Asset 3 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023

0671_001.pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1241662

74981

Closed

FCRE1470

2023-11-02 08:23

2023-11-27 01:40

Resolved

1 - Information

Credit

Missing Doc - Assets

Asset 4 Missing

Resolved-Asset 4 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023
Resolved-Asset 4 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023
Ready for Review-Document Uploaded. See corrected 1003 - Seller-11/22/2023
Open-Asset 4 Missing Asset documentation missing for xx #xx - Due Diligence Vendor-11/02/2023

Ready for Review-Document Uploaded. See corrected 1003 - Seller-11/22/2023

Resolved-Asset 4 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023

Resolved-Asset 4 Provided Or Not Applicable - Due Diligence Vendor-11/27/2023

0671_001.pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1241664

74643

Non-QM: Lender documented all ATR UW factors

Primary Residence

Refinance

Cash Out - Other

74644

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74645

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74982

Closed

FCRE1167

2023-11-10 04:39

2024-01-22 03:48

Resolved

1 - Information

Credit

Insurance

Inadequate Hazard Insurance Coverage - Amount of coverage is less than primary lien amount and the Replacement Cost Value Estimator was not Provided by the Insurer

Resolved-Sufficent Hazard Insurance Coverage is provided - Due Diligence Vendor-01/22/2024
Ready for Review-Document Uploaded. Page 9 of the attached document establishes we have sufficient coverage. Thank you! - Seller-01/19/2024
Open-Inadequate Hazard Insurance Coverage and Replacement Cost Estimator was not Provided - Hazard Insurance Coverage in the amount of xx is less than the minimum required coverage amount of xx Insurance declaration provided shows coverage of xx which is not sufficient to cover the loan amount xx. As Florida loan cannot required RCE to factor cost to rebuild, provide alternate documentation that states the home is fully insured.

- Due Diligence Vendor-11/10/2023

Ready for Review-Document Uploaded. Page 9 of the attached document establishes we have sufficient coverage. Thank you! - Seller-01/19/2024

Resolved-Sufficent Hazard Insurance Coverage is provided - Due Diligence Vendor-01/22/2024

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

xx Checklist of coverage.pdf

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1255110

74984

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74985

ATR/QM: Not Applicable

Investment

Purchase

74646

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

74986

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75522

Closed

FCRE1193

2023-12-18 02:20

2024-03-11 14:23

Acknowledged

2 - Non-Material

Credit

Eligibility

Audited DTI Exceeds Guideline DTI

Acknowledged-Exceptional approval provided for Audited DTI of 50.22% exceeds Guideline Max DTI of 50%  - Due Diligence Vendor-03/11/2024
Ready for Review-Document Uploaded.  - Seller-03/08/2024
Counter-Not Resolved : Rental Loss is xx and Labilities $654 and subject rental loss = xx & Primary P&I = xx Total Debt = $13,436.31/ Total income = xx = 50.22% - Due Diligence Vendor-01/30/2024
Ready for Review-Document Uploaded.  - Seller-01/29/2024
Open-Audited DTI of 50.22% exceeds Guideline DTI of 50%  Max DTI 50% as per lender guideline, as per loan calculation DTI Calculated through total monthly expenses/qualified income *100 ($13436.31/xx*100) = 50.22%
- Due Diligence Vendor-12/18/2023

Ready for Review-Document Uploaded. - Seller-03/08/2024

Ready for Review-Document Uploaded. - Seller-01/29/2024

Acknowledged-Exceptional approval provided for Audited DTI of 50.22% exceeds Guideline Max DTI of 50% - Due Diligence Vendor-03/11/2024

Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 10.58 Years
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 5 Years
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More

Primary residence owned 5 yrs w/AA Mtg rating, 10 yrs self employment, LTV below program max by 10%

INCOME CALCULATION WORKSHEET (27).pdf

custom (62).pdf

Non-QM: Lender documented all ATR UW factors

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1320241

75522

Closed

FCRE1316

2023-12-18 02:32

2024-01-30 06:33

Resolved

1 - Information

Credit

Missing Doc - Employment

Borrower 1 3rd Party VOE Prior to Close Missing

Resolved-Borrower 1 3rd Party VOE Prior to Close Was Provided - Due Diligence Vendor-01/30/2024
Ready for Review-Document Uploaded. - Seller-01/29/2024
Open-Borrower 1 3rd Party VOE Prior to Close Missing Borrower Verbal VOE missing in the loan file. - Due Diligence Vendor-12/18/2023

Ready for Review-Document Uploaded. - Seller-01/29/2024

Resolved-Borrower 1 3rd Party VOE Prior to Close Was Provided - Due Diligence Vendor-01/30/2024

FINAL VERBAL VOE FUNDING (16).pdf

Non-QM: Lender documented all ATR UW factors

Investment

Refinance

Cash Out - Other

N/A

1320252

74648

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74987

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74650

ATR/QM: Not Applicable

Investment

Purchase

74651

ATR/QM: Not Applicable

Investment

Purchase

74988

Closed

finding-3634

2023-12-06 10:43

2024-03-11 17:57

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-PCCD received from lender confirming final charges to borrower. Finding resolved. - Due Diligence Vendor-03/11/2024
Ready for Review-Document Uploaded. CD dated XX/XX/XXXX is not PCCD. Attached is PCCD - Seller-03/08/2024
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 $25.00.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). Final CD dated XX/XX/XXXX transfer taxes fee $25.00 added, need valid COC for fee added or cure amount of $25.00. - Due Diligence Vendor-12/07/2023

Ready for Review-Document Uploaded. CD dated XX/XX/XXXX is not PCCD. Attached is PCCD - Seller-03/08/2024

Resolved-PCCD received from lender confirming final charges to borrower. Finding resolved. - Due Diligence Vendor-03/11/2024

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 49.83 Years

Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 30 Years

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 44.66 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 796 is Greater Than The Guideline Minimum Of 720 By Twenty (20) or More Points

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 49 Years

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 37.71% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More

FINAL CD (7).pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1294198

74652

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74989

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74990

Closed

FCRE1194

2023-12-11 07:30

2024-01-04 07:38

Acknowledged

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Acknowledged- - Due Diligence Vendor-01/04/2024
Ready for Review-Document Uploaded. - Seller-01/03/2024
Open-Audited LTV of xx exceeds Guideline LTV of xx - Due Diligence Vendor-12/11/2023

Ready for Review-Document Uploaded. - Seller-01/03/2024

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals 0.3351897946484132

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 742 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 11.83 Years

Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 11 Years

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 35.26 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 32.81% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More

742 Qualifying score
Low DTI
Long term employment
Conservative credit usage

custom (44).pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

Originator Pre-Close

Yes

1303912

74653

ATR/QM: Not Applicable

Investment

Purchase

75523

ATR/QM: Not Applicable

Investment

Purchase

74654

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74991

ATR/QM: Not Applicable

Investment

Purchase

74655

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74993

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74994

Closed

FPRO1245

2023-11-24 10:17

2024-01-04 07:28

Resolved

1 - Information

Property

Appraisal

Appraisal is Expired

Resolved-Resolved : Received 1004 D - 1/4 - Due Diligence Vendor-01/04/2024
Ready for Review-Document Uploaded. - Seller-01/03/2024
Open-Primary Value Appraisal is Expired Provide updated appraisal document, however available appraisal is not within 120 days of closing date. **Effective date xx and Closing date xx** - Due Diligence Vendor-11/24/2023

Ready for Review-Document Uploaded. - Seller-01/03/2024

Resolved-Resolved : Received 1004 D - 1/4 - Due Diligence Vendor-01/04/2024

APPRAISAL - 2024-01-03T142736.576.pdf

ATR/QM: Not Applicable

Investment

Refinance

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

N/A

1275348

74656

Closed

FCRE4963

2023-11-10 06:54

2023-12-14 03:46

Resolved

1 - Information

Credit

Liabilities

No evidence of required debt payoff

Resolved-Resolved : Received updated copy of 1008 with correct DTI of 37.010% - Due Diligence Vendor-12/14/2023
Ready for Review-Document Uploaded. Agreed, see attached updated 1008 reflecting correct DTI of 37.01 - Seller-12/13/2023
Counter-P&I = xx and Net rental loss xx and Installment $998.00 income is xx. Calculated DTI = 33.620% and if we consider PITIA of xx. Total debt = $17,950/xx = 37.010% and it will be 4% variance. - Due Diligence Vendor-12/11/2023
Ready for Review-xx for xx is being retained as investment and is included in DTI - Seller-12/08/2023
Open-Provide a copy of payoff statement for xx#xx as it is missing in the loan file. - Due Diligence Vendor-11/10/2023

Ready for Review-Document Uploaded. Agreed, see attached updated 1008 reflecting correct DTI of 37.01 - Seller-12/13/2023
Ready for Review-xx for xx is being retained as investment and is included in DTI - Seller-12/08/2023

Resolved-Resolved : Received updated copy of 1008 with correct DTI of 37.010% - Due Diligence Vendor-12/14/2023

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Validated

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Borrower At Current Residence For Five (5) Or More Years - Validated

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 37.01% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More Validated

transmittal_19_pdf - 2023-12-13T132050.471.pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1255271

74995

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74657

ATR/QM: Not Applicable

Investment

Purchase

74996

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74658

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74997

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75524

Non-QM: Lender documented all ATR UW factors

Primary Residence

Refinance

Cash Out - Other

74998

Closed

FCRE1167

2023-11-10 11:17

2024-01-04 07:30

Resolved

1 - Information

Credit

Insurance

Inadequate Hazard Insurance Coverage - Amount of coverage is less than primary lien amount and the Replacement Cost Value Estimator was not Provided by the Insurer

Resolved-Resolved : Received master policy - 1/4 - Due Diligence Vendor-01/04/2024
Ready for Review-Document Uploaded. borrower has  HO-6 policy, project is townhome and has master policy. see email attached from agent - Seller-01/03/2024
Open-Inadequate Hazard Insurance Coverage and Replacement Cost Estimator was not Provided  - Hazard Insurance Coverage in the amount of xx is less than the minimum required coverage amount of xx
Dwelling amount (xx) is not sufficient to cover loan amount(xx); however, master policy is present in loan file but can’t accept it because this property is a PUD and not a condo.  - Due Diligence Vendor-11/10/2023

Ready for Review-Document Uploaded. borrower has HO-6 policy, project is townhome and has master policy. see email attached from agent - Seller-01/03/2024

Resolved-Resolved : Received master policy - 1/4 - Due Diligence Vendor-01/04/2024

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 69.46 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months Validated

Borrower At Current Residence For Five (5) Or More Years - Validated

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

HAZARD INSURANCE - 2024-01-03T143634.740.pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1256023

74999

ATR/QM: Not Applicable

Investment

Purchase

75000

Closed

FCRE1167

2023-11-10 08:17

2024-01-04 07:27

Resolved

1 - Information

Credit

Insurance

Inadequate Hazard Insurance Coverage - Amount of coverage is less than primary lien amount and the Replacement Cost Value Estimator was not Provided by the Insurer

Resolved-Resolved : Property type is PUD attached and master policy accepted. - Due Diligence Vendor-01/04/2024
Ready for Review-See email from Agent regarding acceptabiity of HO6 insurance and master policy - Seller-01/03/2024
Open-Inadequate Hazard Insurance Coverage and Replacement Cost Estimator was not Provided - Hazard Insurance Coverage in the amount of xx is less than the minimum required coverage amount of xx Dwelling amount (xx) is not sufficient to cover loan amount(xx); however, master policy is present in loan file but can’t accept it because this property is a PUD and not a condo. - Due Diligence Vendor-11/10/2023

Ready for Review-See email from Agent regarding acceptabiity of HO6 insurance and master policy - Seller-01/03/2024

Resolved-Resolved : Property type is PUD attached and master policy accepted. - Due Diligence Vendor-01/04/2024

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 71.49 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 14.83 Years

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 800 is Greater Than The Guideline Minimum Of 720 By Twenty (20) or More Points

ATR/QM: Not Applicable

Investment

Purchase

N/A

1255365

75001

ATR/QM: Not Applicable

Investment

Purchase

75002

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74659

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

74660

ATR/QM: Not Applicable

Investment

Purchase

74661

ATR/QM: Not Applicable

Investment

Purchase

75003

ATR/QM: Not Applicable

Investment

Refinance

No Cash Out - Borrower Initiated

75004

Closed

FCRE1176

2023-11-29 06:52

2024-01-04 07:36

Resolved

1 - Information

Credit

Insurance

HO6 Insurance Policy Effective Date is after the Note Date

Resolved-Resolved : Received Final HUD which is reflecting closing date as xx - Due Diligence Vendor-01/04/2024
Ready for Review-Document Uploaded. Hazard insurance must be in effect at time of loan disbursement. See final HUD attached for confirmation of disbursment date - Seller-01/03/2024
Open-HO-6 Insurance Policy Effective Date of xx is after the Note Date of xx Provide a copy of HOI policy which is active at closing. - Due Diligence Vendor-11/29/2023

Ready for Review-Document Uploaded. Hazard insurance must be in effect at time of loan disbursement. See final HUD attached for confirmation of disbursment date - Seller-01/03/2024

Resolved-Resolved : Received Final HUD which is reflecting closing date as xx - Due Diligence Vendor-01/04/2024

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 19.98 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 20 Years

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 741 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points

FINAL HUD-I (23).pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1280057

75005

Closed

FCRE1441

2023-11-14 13:25

2024-01-08 04:36

Resolved

1 - Information

Credit

Eligibility

Delinquent Credit History Does Not Meet Guideline Requirements

Resolved-Resolved : Received LOX stating that Guidelines allow for unlimited 30 day late payment. - Due Diligence Vendor-01/08/2024
Ready for Review-xx is a revolving debt, the credit review is for mortgage ratings only - Seller-01/05/2024
Counter-Not Resolved : xx#xx is 1X60X12 late payment which is not acceptable. - Due Diligence Vendor-01/04/2024
Ready for Review-Guidelines allow for unlimited 30 day lates - Seller-01/03/2024
Open-Delinquent Credit History Does Not Meet Guideline Requirements Last 12 months 5, 30 days mortgage Late payment is there, However the guideline acceptable 1 late payment. - Due Diligence Vendor-11/14/2023

Ready for Review-xx is a revolving debt, the credit review is for mortgage ratings only - Seller-01/05/2024
Ready for Review-Guidelines allow for unlimited 30 day lates - Seller-01/03/2024

Resolved-Resolved : Received LOX stating that Guidelines allow for unlimited 30 day late payment. - Due Diligence Vendor-01/08/2024

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1261592

75005

Closed

finding-3540

2023-11-14 02:22

2024-01-05 12:40

Resolved

1 - Information

Compliance

TRID

Revised Closing Disclosure Delivery Date Test (No Waiting Period Required) Test

Resolved-Final CD signed xx to consummate transaction - one day after notary date per DOT // Loan is a non-rescission transaction -- RESOLVED - Due Diligence Vendor-01/05/2024
Ready for Review-Initial CD signed 10/19. Docs dated 10/24 borrower signed xx - Seller-01/03/2024
Open-This loan failed the revised closing disclosure delivery date test (no waiting period required). ( 12 CFR §1026.19(f)(2)(i) )The revised closing disclosure delivery does not require a new waiting period and:The revised closing disclosure delivery date is provided and the revised closing disclosure method of delivery is marked as either"USPS First Class Mail" or "Electronic Delivery" or blank, and the revised closing disclosure delivery date is less than three business days (counting all calendar days except Sunday and specified legal public holidays) before the consummation date, or closing / settlement date if no consummation date is provided, of the transaction; or"In Person" and the revised closing disclosure delivery date is after the consummation date, or closing / settlement date if no consummation date is provided, of the transaction; orThe revised closing disclosure receipt date is provided and the revised closing disclosure receipt date is after the consummation date, or closing / settlement date if no consummation date is provided, of the transaction.Changes before consummation not requiring a new waiting period. Except as provided in §1026.19(f)(2)(ii), if the disclosures provided under §1026.19(f)(1)(i) become inaccurate before consummation, the creditor shall provide corrected disclosures reflecting any changed terms to the consumer so that the consumer receives the corrected disclosures at or before consummation. Notwithstanding the requirement to provide corrected disclosures at or before consummation, the creditor shall permit the consumer to inspect the disclosures provided under this paragraph, completed to set forth those items that are known to the creditor at the time of inspection, during the business day immediately preceding consummation, but the creditor may omit from inspection items related only to the seller's transaction. - Due Diligence Vendor-11/14/2023

Ready for Review-Initial CD signed 10/19. Docs dated 10/24 borrower signed xx - Seller-01/03/2024

Resolved-Final CD signed xx to consummate transaction - one day after notary date per DOT // Loan is a non-rescission transaction -- RESOLVED - Due Diligence Vendor-01/05/2024

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1260402

74662

Closed

FCOM1004

2023-11-14 06:02

2023-12-14 03:43

Acknowledged

2 - Non-Material

Credit

Missing Doc

Completion Guaranty Missing

Acknowledged-Received exception approval.  - Due Diligence Vendor-12/14/2023

Ready for Review-Document Uploaded.  - Seller-12/13/2023

Open-Guaranty Document required for LLC loan, it is missing in the loan file.  - Due Diligence Vendor-11/14/2023

Ready for Review-Document Uploaded. - Seller-12/13/2023

Acknowledged-Received exception approval. - Due Diligence Vendor-12/14/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More Validated
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More Validated

732 qualifying score
Seasoned investor
Primary residence owned free and clear with prior AA rating

custom (41).pdf

ATR/QM: Not Applicable

Investment

Purchase

Originator Pre-Close

Yes

1260635

74662

Closed

FCRE1826

2023-11-13 12:05

2023-12-11 04:49

Resolved

1 - Information

Credit

Missing Doc

US Driver’s License or other US or foreign government-issued photo ID Missing

Resolved-Resolved : Processor certificate is present in loan file. - Due Diligence Vendor-12/11/2023
Ready for Review-Copy of ID is not required. Borrower is US citizen - Seller-12/08/2023
Open-Borrower ID ( xx) proof is missing in the loan package - Due Diligence Vendor-11/13/2023

Ready for Review-Copy of ID is not required. Borrower is US citizen - Seller-12/08/2023

Resolved-Resolved : Processor certificate is present in loan file. - Due Diligence Vendor-12/11/2023

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More Validated
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More Validated

ATR/QM: Not Applicable

Investment

Purchase

N/A

1258903

74663

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74664

Closed

FPRO1243

2023-11-21 09:20

2023-11-21 13:36

Resolved

1 - Information

Property

Missing Doc - Appraisal

Second Appraisal is Missing

Resolved-A copy of CDA received. - Due Diligence Vendor-11/21/2023

Open-Provide a copy of CDA as both CU & LCU scores are missing in the loan file. - Due Diligence Vendor-11/21/2023

Resolved-A copy of CDA received. - Due Diligence Vendor-11/21/2023

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Validated

Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Validated

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals null

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1271523

74665

Closed

FCRE2994

2023-11-13 16:42

2024-03-11 13:30

Resolved

1 - Information

Credit

Eligibility

DTI (Back) Ratio does not meet eligibility requirement(s)

Resolved-Received updated 1008 - Due Diligence Vendor-03/11/2024

Ready for Review-Document Uploaded. - Seller-03/08/2024

Open-As per Manual calculation DTI 29.22% but 1008 DTI showing 16.295. Due to Primary residence amount ($4,744.00) not considered in 1008 DTI calculation. - Due Diligence Vendor-11/13/2023

Ready for Review-Document Uploaded. - Seller-03/08/2024

Resolved-Received updated 1008 - Due Diligence Vendor-03/11/2024

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 7.53 Are Greater Than The Guideline Minimum Of 0 By Six (6) Or More Months Validated

Borrower At Current Residence For Five (5) Or More Years - Validated

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 29.22% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More Validated

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less Not Met - Credit Line Usage Ratio equals 0.5110928616550853

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Validated

Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 30.75 Years Validated

transmittal_19_pdf - 2024-03-08T121043.012.pdf

Non-QM: Lender documented all ATR UW factors

Second Home

Refinance

Cash Out - Other

N/A

1259834

74665

Closed

FCRE1158

2023-11-13 16:48

2024-03-11 13:29

Acknowledged

2 - Non-Material

Credit

Missing Doc - Insurance

Hazard Insurance Policy is Partial

Acknowledged-Using xx Mo. Hazard Insurance figure for properties. 1. xx 2. xx 3. xx , In lieu of dec page confirmation - Due Diligence Vendor-03/11/2024
Ready for Review-Document Uploaded.  - Seller-03/08/2024
Open-Document is incomplete or missing required policy information. Hazard Insurance document missing for below properties.

1.  xx
2.  xx
3. xx

- Due Diligence Vendor-11/13/2023

Ready for Review-Document Uploaded. - Seller-03/08/2024

Acknowledged-Using xx Mo. Hazard Insurance figure for properties. 1. xx 2. xx 3. xx , In lieu of dec page confirmation - Due Diligence Vendor-03/11/2024

10 yrs as xx, 7yrs in primary, AA Mtg ratings all properties, Low DTI

1930_001.pdf

Non-QM: Lender documented all ATR UW factors

Second Home

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1259844

75525

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74666

ATR/QM: Not Applicable

Investment

Purchase

74667

Closed

FCRE7805

2023-11-21 07:32

2023-12-11 04:14

Resolved

1 - Information

Credit

Missing Doc

Missing Income - Bank Statements

Resolved-Resolved : Bank statement is available on page# 82 of original file. - Due Diligence Vendor-12/11/2023
Ready for Review-September 2022 thru Augusts 2023 are the bank statements used for income. We don't need December 2022 - Seller-12/08/2023
Open-Income verified through 12 months personal bank statements, However December -2022 month statement missing in the loan document. - Due Diligence Vendor-11/21/2023

Ready for Review-September 2022 thru Augusts 2023 are the bank statements used for income. We don't need December 2022 - Seller-12/08/2023

Resolved-Resolved : Bank statement is available on page# 82 of original file. - Due Diligence Vendor-12/11/2023

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 6.33 Years
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More
Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 34.37% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 770 is Greater Than The Guideline Minimum Of 720 By Twenty (20) or More Points

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1271312

75526

ATR/QM: Not Applicable

Investment

Refinance

No Cash Out - Borrower Initiated

75527

ATR/QM: Not Applicable

Investment

Refinance

No Cash Out - Borrower Initiated

75528

ATR/QM: Not Applicable

Investment

Refinance

No Cash Out - Borrower Initiated

75006

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75007

ATR/QM: Not Applicable

Investment

Purchase

74668

ATR/QM: Not Applicable

Investment

Purchase

75008

Closed

FCRE1176

2023-11-29 01:29

2024-01-08 04:39

Resolved

1 - Information

Credit

Insurance

HO6 Insurance Policy Effective Date is after the Note Date

Resolved-Resolved : Received prior HOI policy. - Due Diligence Vendor-01/08/2024
Ready for Review-Document Uploaded. Prior policy attached - Seller-01/05/2024
Counter-Not Resolved : Final HUD doc is showing Closing and disbursement date xx and HOI effective date is xx - Due Diligence Vendor-01/04/2024
Ready for Review-Document Uploaded. H0-6 Policy needs to be in effect on or before disbursement date. - Seller-01/03/2024
Open-HO-6 Insurance Policy Effective Date of xx is after the Note Date of xx - Due Diligence Vendor-11/29/2023

Ready for Review-Document Uploaded. Prior policy attached - Seller-01/05/2024

Ready for Review-Document Uploaded. H0-6 Policy needs to be in effect on or before disbursement date. - Seller-01/03/2024

Resolved-Resolved : Received prior HOI policy. - Due Diligence Vendor-01/08/2024

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 10.50 Years

FINAL HUD-1 SIGNED - 2024-01-03T130516.485.pdf

HO-6 INSURANCE (10).pdf

ATR/QM: Not Applicable

Investment

Refinance

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

N/A

1279757

75009

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75529

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

75530

Non-QM: Lender documented all ATR UW factors

Primary Residence

Refinance

Cash Out - Other

75531

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

74669

ATR/QM: Not Applicable

Investment

Purchase

74670

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

75532

ATR/QM: Not Applicable

Investment

Purchase

75533

ATR/QM: Not Applicable

Investment

Purchase

75011

Closed

FCRE1157

2023-11-28 02:30

2024-01-04 07:44

Resolved

1 - Information

Credit

Missing Doc - Insurance

Hazard Insurance Policy is Missing

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-01/04/2024

Ready for Review-Document Uploaded. - Seller-01/03/2024

Open-Missing Hazard Insurance Policy Provide a copy of HOI Policy as it is missing in the loan file. - Due Diligence Vendor-11/28/2023

Ready for Review-Document Uploaded. - Seller-01/03/2024

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-01/04/2024

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals null
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 66.19 Are Greater Than The Guideline Minimum Of 0 By Six (6) Or More Months
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More
Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 18.66 Years
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More

HAZARD INSURANCE - 2024-01-03T133149.394.pdf

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1277634

75012

Closed

FCRE1316

2023-12-06 04:02

2024-01-04 07:41

Resolved

1 - Information

Credit

Missing Doc - Employment

Borrower 1 3rd Party VOE Prior to Close Missing

Resolved-Borrower 1 3rd Party VOE Prior to Close Was Provided - Due Diligence Vendor-01/04/2024

Ready for Review-Document Uploaded. - Seller-01/03/2024

Open-Borrower 1 3rd Party VOE Prior to Close Missing Borrower Verification of Employment is Missing in loan file. - Due Diligence Vendor-12/06/2023

Ready for Review-Document Uploaded. - Seller-01/03/2024

Resolved-Borrower 1 3rd Party VOE Prior to Close Was Provided - Due Diligence Vendor-01/04/2024

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 10.83 Years
Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 10 Years
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 38.98 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More
Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 42.93% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 802 is Greater Than The Guideline Minimum Of 720 By Twenty (20) or More Points

VERBAL VOE BORROWER (7).pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1293542

74671

ATR/QM: Not Applicable

Investment

Purchase

75013

Closed

FCRE6589

2023-11-27 07:40

Acknowledged

2 - Non-Material

Credit

Borrower

Fraud: Potential Occupancy/Current Address Issues identified in the file

Acknowledged-AIRDNA EXCEPTION FOR A CORE OF 59 & OCCUPANCY RATIO OF 58%. - Due Diligence Vendor-11/27/2023

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 20.11 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 784 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals null

STRONG FICO 784 FICO. 5-YEAR PPP. OVER 18+ MONTHS RESERVES AFTER CLOSING.
EXPERIENCED INVESTOR OWNING THEIR PRIMARY AND 2 INVESTMENTS. 0X30 MORTGAGE RATINGS SINCE 2018.

ATR/QM: Not Applicable

Investment

Purchase

Originator Pre-Close

Yes

1276155

74672

ATR/QM: Not Applicable

Investment

Purchase

75534

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

74673

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

74674

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

75014

Closed

FPRO1137

2023-12-07 01:41

2024-01-05 04:11

Resolved

1 - Information

Property

Appraisal

The appraiser was not licensed (Primary Value)

Resolved-Primary Value appraiser's license was effective prior to the Valuation Date and expired after the Valuation Date Or Primary Valuation Is Not Selected Or Appraiser License Dates Are Not Provided - Due Diligence Vendor-01/05/2024
Ready for Review-Document Uploaded. Appraiser license is valid until xx - Seller-01/04/2024
Open-Primary Value appraiser's license was not effective prior to the Valuation Date or expired prior to the Valuation Date Appraisal date as per report is xx and valuation date is xx - Due Diligence Vendor-12/07/2023

Ready for Review-Document Uploaded. Appraiser license is valid until xx - Seller-01/04/2024

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 6.08 Years
Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 27.11% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 30.11 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More

license.pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1296349

75015

Closed

FCRE1199

2023-12-09 06:47

2024-01-04 08:12

Resolved

1 - Information

Credit

Eligibility

Audited Loan Amount is greater than Guideline Maximum Loan Amount

Resolved-Audited Loan Amount of xx is less than or equal to the Guideline Maximum Loan Amount of xx - Due Diligence Vendor-01/04/2024
Ready for Review-The maximum loan is not xx - Seller-01/03/2024
Open-Audited Loan Amount of xx is greater than the Guideline Maximum Loan Amount of xx - Due Diligence Vendor-12/09/2023

Ready for Review-The maximum loan is not xx - Seller-01/03/2024

Resolved-Audited Loan Amount of xx is less than or equal to the Guideline Maximum Loan Amount of xx - Due Diligence Vendor-01/04/2024

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 6.16 Years

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 690 is Greater Than The Guideline Minimum Of 660 By Twenty (20) or More Points

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals null

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 38.25 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

ATR/QM: Not Applicable

Investment

Purchase

N/A

1302365

75016

Closed

FCOM1210

2023-11-27 14:17

2024-01-05 11:25

Resolved

1 - Information

Compliance

Closing Package

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

Resolved-Finding rescinded since TRID review does not apply to investment purchase transactions. However, TRID regulation DOES require CDs to disclose prepayment penalty characteristics of the loan (if applicable) - Due Diligence Vendor-01/05/2024
Ready for Review-Prepay penalties are not reflected on CD's - Seller-01/03/2024
Open-Note Indicates Prepayment Penalty but CD Does Not Indicate a Prepayment Penalty - Due Diligence Vendor-11/27/2023

Ready for Review-Prepay penalties are not reflected on CD's - Seller-01/03/2024

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 734 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More
Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals null
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 61.6 Are Greater Than The Guideline Minimum Of 0 By Six (6) Or More Months

ATR/QM: Not Applicable

Investment

Purchase

N/A

1276941

75017

Closed

FCRE1167

2023-11-28 06:59

2024-01-04 08:10

Resolved

1 - Information

Credit

Insurance

Inadequate Hazard Insurance Coverage - Amount of coverage is less than primary lien amount and the Replacement Cost Value Estimator was not Provided by the Insurer

Resolved-Sufficent Hazard Insurance Coverage is provided - Due Diligence Vendor-01/04/2024
Ready for Review-Policy indicates 100% replacement cost - Seller-01/03/2024
Open-Inadequate Hazard Insurance Coverage and Replacement Cost Estimator was not Provided - Hazard Insurance Coverage in the amount of xx is less than the minimum required coverage amount of xx Insurance declaration provided shows coverage of xx which is not sufficient to cover the loan amount (xx). As Florida loan cannot required RCE to factor cost to rebuild, provide alternate documentation that states the home is fully insured. - Due Diligence Vendor-11/28/2023

Ready for Review-Policy indicates 100% replacement cost - Seller-01/03/2024

Resolved-Sufficent Hazard Insurance Coverage is provided - Due Diligence Vendor-01/04/2024

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 763 is Greater Than The Guideline Minimum Of 680 By Twenty (20) or More Points

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 15.35 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months

ATR/QM: Not Applicable

Investment

Purchase

N/A

1277859

75535

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

74675

ATR/QM: Not Applicable

Investment

Purchase

75018

Closed

FCRE1482

2023-12-01 05:15

2024-01-08 04:38

Resolved

1 - Information

Credit

Assets

Asset 4 Does Not Meet Guideline Requirements

Resolved-Resolved : Received seller CD - Due Diligence Vendor-01/08/2024
Ready for Review-Document Uploaded. Final settlement statement for sale of xx attached. Seller CD is not required - Seller-01/05/2024
Open-Asset 4 Does Not Meet Guideline Requirements Pending Net Sale Proceeds amount of xx for sold property of xx reflects Final 1003, however proof of Alta settlement statement and Seller CD missing in the loan file. - Due Diligence Vendor-12/01/2023

Ready for Review-Document Uploaded. Final settlement statement for sale of xx attached. Seller CD is not required - Seller-01/05/2024

Resolved-Resolved : Received seller CD - Due Diligence Vendor-01/08/2024

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 20.37 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 723 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points

MISC ASSETS (30).pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1285882

75018

Closed

FCRE1470

2023-12-01 05:15

2024-01-04 08:16

Resolved

1 - Information

Credit

Missing Doc - Assets

Asset 4 Missing

Resolved-Resolved : Received Alta statement - 1/4 - Due Diligence Vendor-01/04/2024
Ready for Review-Document Uploaded. Final settlement statement for sale of xx attached. Seller CD is NOT required - Seller-01/03/2024
Open-Asset 4 Missing Pending Net Sale Proceeds amount of xx for sold property of xx reflects Final 1003, however proof of Alta settlement statement and Seller CD missing in the loan file. - Due Diligence Vendor-12/01/2023

Ready for Review-Document Uploaded. Final settlement statement for sale of xx attached. Seller CD is NOT required - Seller-01/03/2024

Resolved-Resolved : Received Alta statement - 1/4 - Due Diligence Vendor-01/04/2024

MISC ASSETS (28).pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1285883

75018

Closed

FCRE1118

2023-12-04 02:41

2024-01-04 08:15

Resolved

1 - Information

Credit

Closing

Borrower 1 Deed of Trust Signature does not match Note

Resolved-Resolved : Borrower's wife, xx is a non-borrowing spouse. She is not required to sign the note. - Due Diligence Vendor-01/04/2024
Ready for Review-Borrower's wife, xx is a non-borrowing spouse. She is not required to sign the note. The signatures match otherwise - Seller-01/03/2024
Open-Borrower signature date and Notary date missing in the Deed of trust (18 pages) - Due Diligence Vendor-12/04/2023

Ready for Review-Borrower's wife, xx is a non-borrowing spouse. She is not required to sign the note. The signatures match otherwise - Seller-01/03/2024

Resolved-Resolved : Borrower's wife, xx is a non-borrowing spouse. She is not required to sign the note. - Due Diligence Vendor-01/04/2024

ATR/QM: Not Applicable

Investment

Purchase

N/A

1288695

75019

ATR/QM: Not Applicable

Investment

Purchase

75020

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75021

ATR/QM: Not Applicable

Investment

Purchase

75536

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75537

Non-QM: Lender documented all ATR UW factors

Primary Residence

Refinance

Cash Out - Other

75538

ATR/QM: Not Applicable

Investment

Purchase

75539

ATR/QM: Not Applicable

Investment

Purchase

75023

Closed

FCRE1194

2023-11-29 06:58

2024-01-05 05:00

Acknowledged

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Acknowledged- - Due Diligence Vendor-01/05/2024
Ready for Review-Document Uploaded. - Seller-01/04/2024
Open-Audited LTV of xx exceeds Guideline LTV of xx Max LTV xx for First time Investor & Declining market reduce 5% LTV as per lender guideline, however this loan LTV is xx appraisal shows declining after reduction of 5% now LTV is xx exceeds the guideline. - Due Diligence Vendor-11/29/2023

Ready for Review-Document Uploaded. - Seller-01/04/2024

758 qualiying score
strong reserves at closing
conservative user of credit

0966_001.pdf

ATR/QM: Not Applicable

Investment

Purchase

Originator Pre-Close

Yes

1280062

75024

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

75541

Closed

FCRE5790

2024-01-09 01:39

2024-02-01 07:08

Acknowledged

2 - Non-Material

Credit

Closing

Borrower 1 Gap Credit Report is Expired (Greater than 10 Days from Closing/Settlement Date)

Acknowledged- - Due Diligence Vendor-02/01/2024
Ready for Review-Document Uploaded. - Seller-01/31/2024
Open-Borrower 1 Gap Credit Report is Expired (Greater than 10 days from Closing/Settlement Date). As per lender guideline, Gap credit is required no more than 10 days prior to loan closing or any time after closing. - Due Diligence Vendor-01/09/2024

Ready for Review-Document Uploaded. - Seller-01/31/2024

Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Validated

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Validated

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Validated

Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Validated

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Validated

730 qualifying score
Gap credit report not within 10 days of closing
LOW DTI
6+months reserves

custom (59).pdf

Non-QM: Lender documented all ATR UW factors

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1361434

75025

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

75026

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

75542

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75543

ATR/QM: Not Applicable

Investment

Purchase

74676

ATR/QM: Not Applicable

Investment

Purchase

75544

Closed

FCRE6763

2023-12-08 01:11

2024-01-30 06:30

Resolved

1 - Information

Credit

Income

Income documentation does not meet guidelines

Resolved-Resolved : Received Bank statement for the month of October - 1/30 - Due Diligence Vendor-01/30/2024
Ready for Review-Document Uploaded. - Seller-01/29/2024
Open-One month bank statement missing in the loan file (October 2022) for income calculation, Loan program is 12 months bank statements - Due Diligence Vendor-12/08/2023

Ready for Review-Document Uploaded. - Seller-01/29/2024

Resolved-Resolved : Received Bank statement for the month of October - 1/30 - Due Diligence Vendor-01/30/2024

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 802 is Greater Than The Guideline Minimum Of 680 By Twenty (20) or More Points

Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 8.83 Years

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 31.05% Is Less Than The Guideline Maximum Of 45% By Five Percent (5%) Or More

EMD (13).pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1299646

75545

ATR/QM: Not Applicable

Investment

Purchase

75546

Closed

FCOM1280

2024-01-08 06:33

2024-01-30 13:01

Resolved

1 - Information

Compliance

Missing Doc - State Disclosure

Collateral Protection Notice is Missing

Resolved-***Executed disclosure received from lender. - Due Diligence Vendor-01/30/2024
Ready for Review-Document Uploaded. - Seller-01/29/2024
Open-Collateral Protection Notice is Missing - Due Diligence Vendor-01/08/2024

Ready for Review-Document Uploaded. - Seller-01/29/2024

Resolved-***Executed disclosure received from lender. - Due Diligence Vendor-01/30/2024

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 767 is Greater Than The Guideline Minimum Of 720 By Twenty (20) or More Points

1182_001.pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1358860

75546

Closed

FCRE1164

2024-01-08 02:01

2024-01-30 09:27

Resolved

1 - Information

Credit

Missing Doc - Insurance

Flood Insurance Policy Missing

Resolved-Flood Insurance Policy is fully present - Due Diligence Vendor-01/30/2024

Ready for Review-Document Uploaded. - Seller-01/29/2024

Open-Missing Flood Insurance Policy Flood Insurance Missing in loan file - Due Diligence Vendor-01/08/2024

Ready for Review-Document Uploaded. - Seller-01/29/2024

Resolved-Flood Insurance Policy is fully present - Due Diligence Vendor-01/30/2024

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 767 is Greater Than The Guideline Minimum Of 720 By Twenty (20) or More Points

FLOOD INSURANCE (11).pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

N/A

1358491

75547

ATR/QM: Not Applicable

Investment

Purchase

75548

Closed

FCRE1157

2023-12-05 04:14

2024-03-11 08:51

Resolved

1 - Information

Credit

Missing Doc - Insurance

Hazard Insurance Policy is Missing

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-01/31/2024
Ready for Review-Document Uploaded. - Seller-01/30/2024
Open-Missing Hazard Insurance Policy Provide copy of hazard insurance policy as it is missing in the loan file. - Due Diligence Vendor-12/05/2023

Ready for Review-Document Uploaded. - Seller-01/30/2024

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-01/31/2024

Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 779 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 103.5 Are Greater Than The Guideline Minimum Of 0 By Six (6) Or More Months
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More

HAZARD INSURANCE - 2024-01-30T155016.946.pdf

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1290728

75548

Closed

FCRE1167

2024-01-31 06:46

2024-03-11 08:51

Resolved

1 - Information

Credit

Insurance

Inadequate Hazard Insurance Coverage - Amount of coverage is less than primary lien amount and the Replacement Cost Value Estimator was not Provided by the Insurer

Resolved-Sufficent Hazard Insurance Coverage is provided - Due Diligence Vendor-03/11/2024
Open-Inadequate Hazard Insurance Coverage and Replacement Cost Estimator was not Provided - Hazard Insurance Coverage in the amount of xx is less than the minimum required coverage amount of xx Provide RCE as dwelling amount (xx) is not sufficient to cover loan amount (xx). - Due Diligence Vendor-01/31/2024

Resolved-Sufficent Hazard Insurance Coverage is provided - Due Diligence Vendor-03/11/2024

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

N/A

1404100

75549

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75550

Closed

FPRO1137

2023-12-15 01:56

2024-02-01 06:59

Resolved

1 - Information

Property

Appraisal

The appraiser was not licensed (Primary Value)

Resolved-Primary Value appraiser's license was effective prior to the Valuation Date and expired after the Valuation Date Or Primary Valuation Is Not Selected Or Appraiser License Dates Are Not Provided - Due Diligence Vendor-02/01/2024
Ready for Review-Document Uploaded. The attached was located on page 32 of the uploaded appraisal clearly showing previous license active from xx thru xx covering time of appraisal completion - Seller-01/31/2024
Open-Primary Value appraiser's license was not effective prior to the Valuation Date or expired prior to the Valuation Date As per appraisal effective date is xx and Appraiser license effective date was xx. - Due Diligence Vendor-12/19/2023

Ready for Review-Document Uploaded. The attached was located on page 32 of the uploaded appraisal clearly showing previous license active from xx thru xx covering time of appraisal completion - Seller-01/31/2024

Borrower At Current Residence For Five (5) Or More Years - Borrower At Current Residence For Five (5) Or More Years - 5.16 Years

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 25.27 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals null

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 684 is Greater Than The Guideline Minimum Of 660 By Twenty (20) or More Points

1259_001.pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1316359

75027

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75551

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75552

Closed

FCRE1254

2023-12-12 00:47

2024-03-11 13:46

Resolved

1 - Information

Credit

Title

Property Title Issue

Resolved-Property Title Issue Resolved - Due Diligence Vendor-03/11/2024
Resolved-Received updated Title - Due Diligence Vendor-03/11/2024
Ready for Review-Document Uploaded. Final title policy attached - Seller-03/08/2024
Open-Property Title Issue Loan policy amount is xx as per title policy is not covering the Loan amount xx. Provide Supplement report. - Due Diligence Vendor-12/12/2023

Ready for Review-Document Uploaded. Final title policy attached - Seller-03/08/2024

Resolved-Property Title Issue Resolved - Due Diligence Vendor-03/11/2024

Resolved-Received updated Title - Due Diligence Vendor-03/11/2024

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 21.36 Are Greater Than The Guideline Minimum Of 2 By Six (6) Or More Months

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 756 is Greater Than The Guideline Minimum Of 700 By Twenty (20) or More Points

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals null

FINAL TITLE POLICY (75).pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1306717

75552

Closed

FCRE9500

2023-12-13 04:39

2024-02-02 04:54

Resolved

1 - Information

Credit

Missing Doc

Letter of Explanation (Assets) missing or unexecuted

Resolved-Resolved : Received access letter - 2/2 - Due Diligence Vendor-02/02/2024
Ready for Review-Document Uploaded. xx is the first name listed on the attached access letter. - Seller-01/31/2024
Open-Access letter provided for account xx xx, however xx reflects in the bank statements but not listed in the access letter. - Due Diligence Vendor-12/13/2023

Ready for Review-Document Uploaded. xx is the first name listed on the attached access letter. - Seller-01/31/2024

Resolved-Resolved : Received access letter - 2/2 - Due Diligence Vendor-02/02/2024

BANK STATEMENTS (60).pdf

ATR/QM: Not Applicable

Investment

Purchase

N/A

1310364

75553

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75554

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

74677

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Home Improvement/Reno

75555

Closed

FCOM1229

2023-12-13 00:29

2024-02-01 06:31

Resolved

1 - Information

Compliance

Missing Doc - Closing Package

1-4 Family Rider is Missing

Resolved-Resolved : 1-4 Family rider is received - Due Diligence Vendor-02/01/2024
Ready for Review-Document Uploaded. - Seller-01/31/2024
Open-1-4 Family Rider is Missing 1-4 Family Rider is missing in the loan file - Due Diligence Vendor-12/13/2023

Ready for Review-Document Uploaded. - Seller-01/31/2024

Resolved-Resolved : 1-4 Family rider is received - Due Diligence Vendor-02/01/2024

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 43.77% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More
Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 17.66 Years
Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 25 Years
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 13.41 Are Greater Than The Guideline Minimum Of 6 By Six (6) Or More Months
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More
Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals null
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More
Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Qualifying FICO Of 778 is Greater Than The Guideline Minimum Of 720 By Twenty (20) or More Points

RECORDED DEED OF TRUST (20).pdf

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

N/A

1310185

75555

Closed

FCOM1227

2023-12-13 00:29

2024-02-01 06:30

Resolved

1 - Information

Compliance

Missing Doc - Closing Package

PUD Rider is Missing

Resolved-Resolved : PUD rider is received. - Due Diligence Vendor-02/01/2024
Ready for Review-Document Uploaded. - Seller-01/31/2024
Open-PUD Rider is Missing PUD Rider is missing in the loan file - Due Diligence Vendor-12/13/2023

Ready for Review-Document Uploaded. - Seller-01/31/2024

Resolved-Resolved : PUD rider is received. - Due Diligence Vendor-02/01/2024

RECORDED DEED OF TRUST (20).pdf

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

N/A

1310186

75028

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75556

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75029

Non-QM: Lender documented all ATR UW factors

Investment

Purchase

75557

ATR/QM: Not Applicable

Investment

Refinance

Cash Out - Other

75030

ATR/QM: Not Applicable

Investment

Purchase

75031

Closed

finding-47

2023-12-18 05:28

2024-01-05 13:12

Resolved

1 - Information

Compliance

Right to Rescind

TILA Right of Rescission Test

Resolved-Lender uploaded PCCD - Due Diligence Vendor-01/05/2024
Ready for Review-Document Uploaded. - Seller-01/04/2024
Open-This loan failed the TILA right of rescission test.

Closed-end ( 12 CFR §1026.23(a)(3) , transferred from 12 CFR §226.23(a)(3) ), Open-end ( 12 CFR §1026.15(a)(3) , transferred from 12 CFR §226.15(a)(3) )The funding date is before the third business day following consummation.

The consumer may exercise the right to rescind until midnight of the third business day following consummation, delivery of the notice required by 12 CFR §1026.23 or §1026.15, or delivery of all material disclosures, whichever occurs last. ****The Final CD shows a funding date of xx - which is prior to the conclusion of borrower(s) 3 day rescission period. Lender to provide confirmation of accurate funding/disbursement date.
- Due Diligence Vendor-12/19/2023

Ready for Review-Document Uploaded. - Seller-01/04/2024

Resolved-Lender uploaded PCCD - Due Diligence Vendor-01/05/2024

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Calculated DTI Of 44.61% Is Less Than The Guideline Maximum Of 50% By Five Percent (5%) Or More
Original CLTV is Below the Guideline Maximum By Ten Percent (10%) or More - Original CLTV Of xx Is Below the Guideline Maximum Of xx By Ten Percent (10%) or More
Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Months Reserves Of 20.2 Are Greater Than The Guideline Minimum Of 0 By Six (6) Or More Months
Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - Borrower 1 Has Stable Job Time Of Five (5) Or More Years At Current Job - 13.41 Years
Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - 13.50 Years
Original LTV Is Below The Guideline Maximum By Ten Percent (10%) Or More - Original LTV Of xx Is Below The Guideline Maximum Of xx By Ten Percent (10%) Or More

FINAL CD.pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Refinance

Cash Out - Other

N/A

1320432

75032

ATR/QM: Not Applicable

Investment

Purchase

75558

ATR/QM: Not Applicable

Investment

Purchase

75559

ATR/QM: Not Applicable

Investment

Purchase

75561

Closed

FCRE1194

2024-01-06 00:37

2024-03-11 13:49

Acknowledged

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Acknowledged-Audited LTV of xx exceeds Guideline LTV of xx Interest only loan Max LTV xx, This loan DSCR 1.04 using short term rental. As per lender guideline, DSCR is >= 1.00, a 5% LTV reduction applies - Due Diligence Vendor-03/11/2024
Ready for Review-Document Uploaded. - Seller-03/08/2024
Open-Audited LTV of xx exceeds Guideline LTV of xx Interest only loan Max LTV xx, This loan DSCR 1.04 using short term rental. As per lender guideline, DSCR is >= 1.00, a 5% LTV reduction applies - Due Diligence Vendor-01/06/2024

Ready for Review-Document Uploaded. - Seller-03/08/2024

Borrower At Current Residence For Five (5) Or More Years - Validated

Months Reserves Are Greater Than The Guideline Minimum By Six (6) Or More Months - Validated

Long time owner of primary residence (18 yrs), Strong reserves@closing , Seasoned landlord

custom (63).pdf

ATR/QM: Not Applicable

Investment

Purchase

Originator Pre-Close

Yes

1357866

75562

Closed

FCRE1198

2023-11-27 15:07

2024-01-30 06:54

Acknowledged

2 - Non-Material

Credit

Eligibility

Audited Reserves are less than Guideline Required Reserves (Number of Months)

Acknowledged- - Due Diligence Vendor-01/30/2024

Ready for Review-Document Uploaded. - Seller-01/29/2024

Open-Audited Reserves of 5.47 are less than Guideline Required Reserves of 6 Validated - Due Diligence Vendor-11/27/2023

Ready for Review-Document Uploaded. - Seller-01/29/2024

Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Low Credit Usage Ratio Of Twenty-Five Percent (25%) Or Less - Credit Line Usage Ratio equals 2.9396482412060303

Calculated DTI Is Less Than The Guideline Maximum By Five Percent (5%) Or More - Validated

Qualifying FICO is Greater Than The Guideline Minimum By Twenty (20) or More Points - Validated

Borrower 1 Has Stable Time In Profession By Ten (10) Years Or More - Validated

740 Qualifying score
10 yrs same profession
DTI well below program max

custom (59).pdf

Non-QM: Lender documented all ATR UW factors

Primary Residence

Purchase

Originator Pre-Close

Yes

1277070