MFA 2024-NQM1 Trust ABS-15G

EXHIBIT 99.48

Loan ID (Purchasing Lender)

Loan Number (Selling Lender)

Final Overall Event Level

S&P Initial Overall Rating

S&P Final Overall Rating

S&P Initial Credit Grade

S&P Final Credit Grade

S&P Initial Compliance Grade

S&P Final Compliance Grade

S&P Initial Property Grade

S&P Final Property Grade

Fitch Initial Overall Rating

Fitch Final Overall Rating

Fitch Initial Credit Grade

Fitch Final Credit Grade

Fitch Initial Compliance Grade

Fitch Final Compliance Grade

Fitch Initial Property Grade

Fitch Final Property Grade

Moodys Initial Overall Rating

Moodys Final Overall Rating

Moodys Initial Credit Grade

Moodys Final Credit Grade

Moodys Initial Compliance Grade

Moodys Final Compliance Grade

Moodys Initial Property Grade

Moodys Final Property Grade

Kroll Initial Overall Rating

Kroll Final Overall Rating

Kroll Initial Credit Grade

Kroll Final Credit Grade

Kroll Initial Compliance Grade

Kroll Final Compliance Grade

Kroll Initial Property Grade

Kroll Final Property Grade

DBRS Initial Overall Rating

DBRS Final Overall Rating

DBRS Initial Credit Grade

DBRS Final Credit Grade

DBRS Initial Compliance Grade

DBRS Final Compliance Grade

DBRS Initial Property Grade

DBRS Final Property Grade

State

Lien Position

Loan Purpose

QM Designation Type

47085

1

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

A

CO

1

Cash Out Refinance

Non-QM / Compliant

48604

2

C

B

C

B

A

A

A

A

C

B

C

B

A

A

A

A

C

B

C

B

A

A

A

A

C

B

C

B

A

A

A

A

C

B

C

B

A

A

A

A

CA

1

Purchase

Non-QM / Compliant

48295

1

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

CA

1

Cash Out Refinance

Not Covered / Exempt

48296

1

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

CA

1

Cash Out Refinance

Not Covered / Exempt

48297

1

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

CA

1

Cash Out Refinance

Not Covered / Exempt

48298

1

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

D

A

C

A

D

A

A

A

CA

1

Cash Out Refinance

Not Covered / Exempt