EX-99.56 57 ex99-56.htm SELENE STANDARD FINDINGS REPORT

Exhibit 99.56

Seller

Loan ID

Seller Loan ID

Investor Loan ID

Queue

Created Date

Last Modified Date

Finding Status

Event Level

Initial Finding Grade

Current/Final Finding Grade

Finding Category

Finding Sub Category

Finding Name

Reviewer Comments

Seller Comments

Finding Resolution

Finding Document

Reviewer Comp Factors

Originator Comp Factors

State

Occupancy

Loan Purpose

Refinance Purpose

Unique Finding ID

Acknowledged / Waived By

Waiver in File?

XXXX

1885361

Closed

2024-09-10 17:21

2024-09-11 07:54

Resolved

1 - Information

Credit

Missing Doc

Hazard Insurance Policy is Missing

Resolved-Required Document changes made in system, Finding Resolvedv - Due Diligence Vendor-09/11/2024

Ready for Review-Document Uploaded. - Buyer-09/10/2024

Open-Missing Hazard Insurance Policy Rent loss amount is not included on policy. Please update. - Due Diligence Vendor-09/10/2024

Resolved-Required Document changes made in system, Finding Resolved - Due Diligence Vendor-09/11/2024

XXXX

Investment

Refinance

Cash Out - Other

2344576

N/A

XXXX

1885363

Closed

2024-09-08 06:12

2024-09-13 11:05

Resolved

1 - Information

Credit

Title

Title Coverage is Less than Subject Lien(s) Total

Resolved-Required Document Provided, Changes made in system. Finding Resolved - Due Diligence Vendor-09/13/2024
Ready for Review-Document Uploaded. see pg 5 - Buyer-09/12/2024
Open-Title Coverage Amount of $XXXX is Less than Total Amount of Subject Lien(s) Title Coverage Amount of $XXXX is Less than Total Amount of Subject Lien. - Due Diligence Vendor-09/08/2024

Resolved-Required Document Provided, Changes made in system. Finding Resolved - Due Diligence Vendor-09/13/2024

XXXX

Investment

Refinance

No Cash Out - Borrower Initiated

2328863

N/A

XXXX

1885363

Closed

2024-09-09 06:15

2024-09-10 07:05

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline requirements

Waived-Made Exception for Fico < 680: as per Matrix min Fico for IO is 680, Provided Fico is 627 which is less than min fico of GL Requirements. - Due Diligence Vendor-09/10/2024

Ready for Review-Document Uploaded. - Buyer-09/09/2024

Open-Audited FICO of 627 is less than Guideline FICO of 680 Verified FICO of 627 is less than Guideline FICO of 640. IO loan min FICO 680 - Due Diligence Vendor-09/09/2024

Waived-Made Exception for Fico < 680: as per Matrix min Fico for IO is 680, Provided Fico is 627 which is less than min fico of GL Requirements. - Due Diligence Vendor-09/10/2024

XXXX

DSCR 1.0: Minimum DSCR is 1, Calculated DSCR is 1.00
LTV 5% or more below Max: Max LTV per matrix is 70%, verified LTV is 61.84% which is Below the Max LTV
Excess reserves 3+ months: Required reserves per GL 6 months, actual reserves are 49.94

Investment

Refinance

No Cash Out - Borrower Initiated

2330827

Originator Post-Close

Yes

XXXX

1885363

Closed

2024-09-09 19:22

2024-09-10 06:57

Resolved

1 - Information

Credit

Missing Doc

Approval/Underwriting Summary Partially Provided

Resolved-Updated Loan Approval Provided, Finding Resolved.
- Due Diligence Vendor-09/10/2024

Ready for Review-Document Uploaded. - Buyer-09/09/2024

Open-Approval certificate does not have loan amount or PPP that is supported by note.
- Due Diligence Vendor-09/09/2024

Resolved-Updated Loan Approval Provided, Finding Resolved.
- Due Diligence Vendor-09/10/2024

XXXX

Investment

Refinance

No Cash Out - Borrower Initiated

2337043

N/A

XXXX

1885367

Closed

2024-09-16 13:57

2024-09-24 08:01

Waived

2 - Non-Material

Property

Missing Doc

Second Appraisal/ Valuation is Missing

Waived-Exception Provided:
Desk Review/ Stewart Valuation - Due Diligence Vendor-09/24/2024

Resolved-Secondary Valuation or Additional Valuation is present or Not Required - Due Diligence Vendor-09/24/2024

Ready for Review-Document Uploaded. - Buyer-09/23/2024

Open-Secondary Valuation or Additional Valuation (with acceptable variance to Primary) is missing per guideline requirements and CU Score, if present, is greater than 2.5 Desk review missing from file - Due Diligence Vendor-09/16/2024

XXXX

Compensating factors:
1. Credit Score is 752. Minimum required per guidelines is 720-Verified.
2. Borrower(s) have 166.08 months Reserves. Minimum required per guidelines is 3 months-Verified.

Investment

Purchase

2379903

Originator Pre-Close

Yes

XXXX

1885367

Closed

2024-09-17 06:00

2024-09-24 06:50

Resolved

1 - Information

Credit

Missing Doc

Third Party Fraud Report not Provided

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-09/24/2024

Ready for Review-Document Uploaded. - Buyer-09/23/2024

Open-Missing Third Party Fraud Report Fraud Report is missing in file. - Due Diligence Vendor-09/17/2024

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-09/24/2024

XXXX

Investment

Purchase

2386115

N/A

XXXX

1906247

Closed

2024-10-07 10:46

2024-10-17 19:02

Resolved

1 - Information

Compliance

Closing

Loan Originator NMLS is Not Valid

Resolved-Clarification received. - Due Diligence Vendor-10/17/2024

Ready for Review-pending review - Due Diligence Vendor-10/17/2024

Ready for Review-Business purpose loans do not require individual NMLS. Not a compliance item for these loans. - Seller-10/16/2024

Open-LO and LO officer NMLS id missing. NMLS lookup is not working to check the same. - Due Diligence Vendor-10/07/2024

Ready for Review-Business purpose loans do not require individual NMLS. Not a compliance item for these loans. - Seller-10/16/2024

Resolved-Clarification received. - Due Diligence Vendor-10/17/2024

Investment

Refinance

Cash Out - Other

2538659

N/A

XXXX

1906247

Closed

2024-10-07 10:04

2024-10-17 17:21

Resolved

1 - Information

Credit

Missing Doc

Hazard Insurance Policy is Partial

Resolved-Clarification received - Due Diligence Vendor-10/17/2024

Ready for Review-Document Uploaded. Policy paid in full prior to closing. Escrow amount collected based on increase factors. No regulatory requirement for escrow account and purchasers typically do an escrow analysis within 90 days. - Seller-10/16/2024

Open-Hazard Insurance Policy Partially Provided Premium amount is not matching between HOI document and HUD. - Due Diligence Vendor-10/07/2024

Ready for Review-Document Uploaded. Policy paid in full prior to closing. Escrow amount collected based on increase factors. No regulatory requirement for escrow account and purchasers typically do an escrow analysis within 90 days. - Seller-10/16/2024

Resolved-Clarification received - Due Diligence Vendor-10/17/2024

XXXX

Investment

Refinance

Cash Out - Other

2538491

N/A

XXXX

1906247

Closed

2024-10-07 10:40

2024-10-17 17:11

Resolved

1 - Information

Credit

Doc Issue

Initial Escrow Acct Disclosure missing; loan has escrows

Resolved-Clarification received - Due Diligence Vendor-10/17/2024

Ready for Review-IEAD disclosure not required for business purpose loans. Escrow language within Deed of Trust (mortgage). - Seller-10/16/2024

Open-IEAD document is missing in file. - Due Diligence Vendor-10/07/2024

Ready for Review-IEAD disclosure not required for business purpose loans. Escrow language within Deed of Trust (mortgage). - Seller-10/16/2024

Resolved-Clarification received - Due Diligence Vendor-10/17/2024

Investment

Refinance

Cash Out - Other

2538648

N/A

XXXX

1906247

Closed

2024-10-07 10:08

2024-10-17 11:41

Resolved

1 - Information

Credit

Missing Doc

Third Party Fraud Report not Provided

Resolved-Required Document Provided, Changes made in system, Finidng resolved.
- Due Diligence Vendor-10/17/2024

Ready for Review-Document Uploaded. - Seller-10/16/2024

Open-Missing Third Party Fraud Report - Due Diligence Vendor-10/07/2024

Ready for Review-Document Uploaded. - Seller-10/16/2024

Resolved-Required Document Provided, Changes made in system, Finidng resolved.
- Due Diligence Vendor-10/17/2024

XXXX

Investment

Refinance

Cash Out - Other

2538499

N/A

XXXX

1906247

Closed

2024-10-07 09:46

2024-10-17 08:55

Resolved

1 - Information

Compliance

Missing Doc

1-4 Family Rider is Missing

Resolved-Riders included in provided DOT document, hence finding resolved
- Due Diligence Vendor-10/17/2024

Ready for Review-Our Deed of Trusts (mortgages) are attorney prepared at loan level and all necessary language is within. No riders. - Seller-10/16/2024

Open-1-4 Family Rider is Missing - Due Diligence Vendor-10/08/2024

Ready for Review-Our Deed of Trusts (mortgages) are attorney prepared at loan level and all necessary language is within. No riders. - Seller-10/16/2024

Resolved-Riders included in provided DOT document, hence finding resolved
- Due Diligence Vendor-10/17/2024

Investment

Refinance

Cash Out - Other

2538418

N/A

XXXX

1906248

Closed

2024-10-08 03:53

2024-10-17 14:59

Resolved

1 - Information

Compliance

Missing Doc

Final HUD-1 or Final Settlement Statement Document is Missing

Resolved-Final HUD-1 Document is Present or Not Applicable - Due Diligence Vendor-10/17/2024

Ready for Review-Document Uploaded. - Seller-10/16/2024

Open-Final HUD-1 Document is Missing. Missing signed HUD - Due Diligence Vendor-10/08/2024

Ready for Review-Document Uploaded. - Seller-10/16/2024

Resolved-Final HUD-1 Document is Present or Not Applicable - Due Diligence Vendor-10/17/2024

XXXX

Investment

Purchase

2547364

N/A

XXXX

1906248

Closed

2024-10-08 04:01

2024-10-17 14:58

Resolved

1 - Information

Compliance

Missing Doc

Missing Initial Escrow Disclosure

Resolved-IEAD not required on BPL, finding resolved - Due Diligence Vendor-10/17/2024

Ready for Review-IEAD disclosure not required for business purpose loans. Escrow language within Deed of Trust (mortgage). - Seller-10/16/2024

Open-Missing Initial Escrow Disclosure document in file. - Due Diligence Vendor-10/08/2024

Ready for Review-IEAD disclosure not required for business purpose loans. Escrow language within Deed of Trust (mortgage). - Seller-10/16/2024

Resolved-IEAD not required on BPL, finding resolved - Due Diligence Vendor-10/17/2024

Investment

Purchase

2547377

N/A

XXXX

1906248

Closed

2024-10-08 03:34

2024-10-17 11:42

Resolved

1 - Information

Credit

Missing Doc

Third Party Fraud Report not Provided

Resolved-
Required Document Provided, Changes made in system, Finidng resolved.
- Due Diligence Vendor-10/17/2024

Ready for Review-Document Uploaded. - Seller-10/16/2024

Open-Missing Third Party Fraud Report in file - Due Diligence Vendor-10/08/2024

Ready for Review-Document Uploaded. - Seller-10/16/2024

Resolved-
Required Document Provided, Changes made in system, Finidng resolved.
- Due Diligence Vendor-10/17/2024

XXXX

Investment

Purchase

2547331

N/A

XXXX

1906248

Closed

2024-10-08 03:13

2024-10-17 08:50

Resolved

1 - Information

Compliance

Missing Doc

1-4 Family Rider is Missing

Resolved-Riders included in provided DOT document, hence finding resolved - Due Diligence Vendor-10/17/2024

Ready for Review-Our Deed of Trusts (mortgages) are attorney prepared at loan level and all necessary language is within. No riders. - Seller-10/16/2024

Open-1-4 Family Rider is Missing 1-4 Family Rider missing from file - Due Diligence Vendor-10/08/2024

Ready for Review-Our Deed of Trusts (mortgages) are attorney prepared at loan level and all necessary language is within. No riders. - Seller-10/16/2024

Resolved-Riders included in provided DOT document, hence finding resolved - Due Diligence Vendor-10/17/2024

Investment

Purchase

2547293

N/A

XXXX

1906246

Closed

2024-10-08 05:02

2024-10-17 15:04

Resolved

1 - Information

Compliance

Missing Doc

Missing Initial Escrow Disclosure

Resolved-IEAD not required on BPL, finding resolved - Due Diligence Vendor-10/17/2024

Ready for Review-IEAD disclosure not required for business purpose loans. Escrow language within Deed of Trust (mortgage). - Seller-10/16/2024

Open-IEAD document is missing. - Due Diligence Vendor-10/08/2024

Ready for Review-IEAD disclosure not required for business purpose loans. Escrow language within Deed of Trust (mortgage). - Seller-10/16/2024

Resolved-IEAD not required on BPL, finding resolved - Due Diligence Vendor-10/17/2024

Investment

Refinance

Cash Out - Other

2547479

N/A

XXXX

1906246

Closed

2024-10-08 04:27

2024-10-17 11:39

Resolved

1 - Information

Credit

Missing Doc

Third Party Fraud Report not Provided

Resolved-Required Document Provided, Changes made in system, Finidng resolved. - Due Diligence Vendor-10/17/2024

Ready for Review-Document Uploaded. - Seller-10/16/2024

Open-Missing Third Party Fraud Report - Due Diligence Vendor-10/08/2024

Ready for Review-Document Uploaded. - Seller-10/16/2024

Resolved-Required Document Provided, Changes made in system, Finidng resolved. - Due Diligence Vendor-10/17/2024

XXXX

Investment

Refinance

Cash Out - Other

2547426

N/A

XXXX

1906246

Closed

2024-10-07 12:54

2024-10-17 09:00

Resolved

1 - Information

Compliance

Missing Doc

1-4 Family Rider is Missing

Ready for Review-Our Deed of Trusts (mortgages) are attorney prepared at loan level and all necessary language is within. No riders. - Seller-10/16/2024

Resolved-Riders included in provided DOT document, hence finding resolved
- Due Diligence Vendor-10/17/2024

Investment

Refinance

Cash Out - Other

2539490

N/A

XXXX

1923677

Closed

2024-10-17 21:48

2024-11-19 15:37

Resolved

1 - Information

Credit

FEMA disaster issue and/or risk.

Resolved-Received investor confirmation, finding resolved - Due Diligence Vendor-11/19/2024
Ready for Review-Document Uploaded. - Buyer-11/18/2024
Counter-XXXX declared on XXXX does not have an incident end date as of XXXX. Once the end date has been declared we will need an updated PDI dated after the end date - Due Diligence Vendor-10/24/2024
Ready for Review-Document Uploaded. - Buyer-10/23/2024
Open-Property potentially affected by FEMA Disaster. XXXX - Declared XXXX without an Incident End Date with Public Assistance: YES and Individual Assistance: YES. After the disaster end date, a Property inspection with exterior photos is required. - Due Diligence Vendor-10/17/2024

Resolved-Received investor confirmation, finding resolved - Due Diligence Vendor-11/19/2024

XXXX

Investment

Purchase

2627150

N/A

XXXX

1923677

Closed

2024-10-17 21:49

2024-11-19 15:37

Resolved

1 - Information

Credit

FEMA disaster issue and/or risk. (2)

Resolved-Received investor confirmation, finding resolved - Due Diligence Vendor-11/19/2024
Ready for Review-Document Uploaded. - Seller-11/18/2024
Counter-XXXX declared on XXXX does not have an incident end date as of XXXX. Once the end date has been declared we will need an updated PDI dated after the end date - Due Diligence Vendor-10/24/2024
Ready for Review-Document Uploaded. - Buyer-10/23/2024
Open-Property potentially affected by FEMA Disaster. XXXX - Declared XXXX without an Incident End Date with Public Assistance: YES and Individual Assistance: YES. After the disaster end date, a Property inspection with exterior photos is required. - Due Diligence Vendor-10/17/2024

Ready for Review-Document Uploaded. - Seller-11/18/2024

Resolved-Received investor confirmation, finding resolved - Due Diligence Vendor-11/19/2024

XXXX

Investment

Purchase

2627154

N/A

XXXX

1923677

Closed

2024-10-17 18:46

2024-10-24 14:52

Resolved

1 - Information

Credit

Eligibility

Fraud Report Shows Uncleared Alerts

Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-10/24/2024

Ready for Review-Document Uploaded. - Seller-10/22/2024

Open-Fraud Report Shows Uncleared Alerts High alert is not cleared - Due Diligence Vendor-10/17/2024

Ready for Review-Document Uploaded. - Seller-10/22/2024

Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-10/24/2024

XXXX

Investment

Purchase

2625127

N/A

XXXX

1891930

Closed

2024-10-21 16:44

2024-10-25 14:15

Resolved

1 - Information

Credit

Missing Doc

Business Purpose Affidavit is Missing

Resolved-The Business Purpose Affidavit is present or Not Applicable (1008 Page Loan Type is DSCR.) - Due Diligence Vendor-10/25/2024
Resolved-Document received - Due Diligence Vendor-10/25/2024
Ready for Review-Document Uploaded.  - Buyer-10/25/2024
Counter-Thank you for the upload. The address does not support XXXX - Due Diligence Vendor-10/24/2024
Ready for Review-Document Uploaded.  - Buyer-10/22/2024
Open-The 1008 Page Loan Type is 'DSCR' but the Business Purpose Affidavit Disclosure Indicator is 'Missing'.  Business Purpose Affidavit is required for a DSCR loan. Please provide business purpose occupancy affidavit - Due Diligence Vendor-10/21/2024

Resolved-The Business Purpose Affidavit is present or Not Applicable (1008 Page Loan Type is DSCR.) - Due Diligence Vendor-10/25/2024

Resolved-Document received - Due Diligence Vendor-10/25/2024

XXXX

Investment

Refinance

Cash Out - Other

2648405

N/A

XXXX

1891930

Closed

2024-10-21 16:58

2024-10-25 14:14

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived- - Due Diligence Vendor-10/25/2024

Ready for Review-The borrower does not own their primary residence on DSCR loan - Due Diligence Vendor-10/24/2024

Ready for Review-Document Uploaded. - Buyer-10/22/2024

Open-Loan does not conform to program guidelines The borrower does not own their primary residence on DSCR loan - Due Diligence Vendor-10/21/2024

XXXX

DSCR is 1.084. Minimum required per guidelines is 1.
Borrower(s) have 11.29 months Reserves. Minimum required per guidelines is 3 months. Cash out proceeds
No mortgage lates since March 2023 0*30 (1.5 yrs) confirmed

Investment

Refinance

Cash Out - Other

2648537

Originator Post-Close

Yes

XXXX

1891930

Closed

2024-10-17 06:48

2024-10-23 07:26

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Exception provided
-Loan Amount < $XXXX - Due Diligence Vendor-10/23/2024
Ready for Review-Document Uploaded. - Seller-10/22/2024
Open-Audited Loan Amount is less than Guideline Minimum Loan Amount As per Matrix Minimum Loan is $XXXX but as per loan <XXXX Which is not meeting guidelines. - Due Diligence Vendor-10/17/2024

Ready for Review-Document Uploaded. - Seller-10/22/2024

Waived-Exception provided
-Loan Amount < $150,000 - Due Diligence Vendor-10/23/2024

XXXX

DSCR is 1.084. Minimum required per guidelines is 1.
Borrower(s) have 11.29 months Reserves. Minimum required per guidelines is 3 months.

Investment

Refinance

Cash Out - Other

2618300

Originator Post-Close

Yes

XXXX

1939516

Closed

2024-10-22 16:15

2024-10-24 17:31

Waived

2 - Non-Material

Credit

Credit Worthiness

Mortgage history for primary residence less than 12 months

Waived-Borrower does not own primary residence on DSCR loan. - Due Diligence Vendor-10/24/2024

Ready for Review-Document Uploaded. - Buyer-10/23/2024

Open-VOR is present however borrower does not own primary residence on DSCR loan. - Due Diligence Vendor-10/22/2024

Waived-Borrower does not own primary residence on DSCR loan. - Due Diligence Vendor-10/24/2024

XXXX

DSCR is 1.179. Minimum required per guidelines is 1.
Borrower(s) have 19.05 months Reserves. Minimum required per guidelines is 3 months.
Credit Score is 779. Minimum required per guidelines is 720.

Investment

Purchase

2657069

Originator Post-Close

Yes

XXXX

1939516

Closed

2024-10-22 16:15

2024-10-24 17:30

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived-FTHB / Investment Property - Due Diligence Vendor-10/24/2024

Ready for Review-Document Uploaded. - Buyer-10/23/2024

Open-Loan does not conform to program guidelines Borrower is a FTHB on an investment loan - Due Diligence Vendor-10/22/2024

Waived-FTHB / Investment Property - Due Diligence Vendor-10/24/2024

XXXX

DSCR is 1.179. Minimum required per guidelines is 1.
Borrower(s) have 19.05 months Reserves. Minimum required per guidelines is 3 months.
Credit Score is 779. Minimum required per guidelines is 720.

Investment

Purchase

2657061

Originator Post-Close

Yes

XXXX

1923712

Closed

2024-11-07 20:43

2024-11-19 17:00

Resolved

1 - Information

Credit

Ownership Type Is Not Fee Simple

Resolved-Clarification received - Due Diligence Vendor-11/19/2024

Ready for Review-Document Uploaded. - Buyer-11/15/2024

Open-Original appraisal indicates the property is leasehold while the 1004D notes fee simple. - Due Diligence Vendor-11/07/2024

Resolved-Clarification received - Due Diligence Vendor-11/19/2024

XXXX

Investment

Refinance

Cash Out - Other

2766662

N/A

XXXX

1923712

Closed

2024-11-04 04:19

2024-11-14 15:55

Resolved

1 - Information

Property

Appraisal

Review Product 1 Valuation is Expired

Resolved-Clarification received - Due Diligence Vendor-11/14/2024
Ready for Review-XXXX does not require an updated CDA when we do a recert of value. - Buyer-11/12/2024
Open-Review Product 1 Valuation is Expired (Review Product 1 Valuation Date is greater than 120 days from the Note Date of XXXX. Days Difference is 132) Desk review expired need updated secondary appraisal for Securitization. - Due Diligence Vendor-11/04/2024

Resolved-Clarification received - Due Diligence Vendor-11/14/2024

Investment

Refinance

Cash Out - Other

2732903

N/A

XXXX

1923712

Closed

2024-11-04 04:38

2024-11-13 09:11

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Made Exception for Loan Amount < $XXXX: Per Matrix minimum Loan amount is $XXXX, provided Loan amount is $XXXX which is less than GL Requirement - Due Diligence Vendor-11/13/2024
Ready for Review-Document Uploaded. - Buyer-11/12/2024
Open-Audited Loan Amount is less than Guideline Minimum Loan Amount Loan Amount not meet Guidelines need supporting doc. - Due Diligence Vendor-11/04/2024

Waived-Made Exception for Loan Amount < $XXXX: Per Matrix minimum Loan amount is $XXXX, provided Loan amount is $XXXX which is less than GL Requirement - Due Diligence Vendor-11/13/2024

XXXX

DSCR > 1.0: minimum DSCR per GL is 1, Calculated DSCR is 1.810
Fico Score above minimum by 20 pts or greater: min fico is 700, verified is 760 which greater than min fico

Investment

Refinance

Cash Out - Other

2732936

Originator Post-Close

Yes

XXXX

1923680

Closed

2024-11-04 04:52

2024-11-14 17:56

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Made Exception for Loan Amount < $XXXX: Per Matrix minimum Loan amount is $XXXX, provided Loan amount is $XXXX is less than GL Requirement
- Due Diligence Vendor-11/13/2024
Ready for Review-Document Uploaded. - Buyer-11/12/2024
Open-Audited Loan Amount of $XXXX is less than the Guideline Minimum Loan Amount of $XXXX - Due Diligence Vendor-11/04/2024

Waived-Made Exception for Loan Amount < $XXXX: Per Matrix minimum Loan amount is $XXXX, provided Loan amount is $XXXXwhich is less than GL Requirement
- Due Diligence Vendor-11/13/2024

XXXX

DSCR is 1.49. Minimum required per guidelines is 1.
Credit Score is 760. Minimum required per guidelines is 700.
LTV is 70%. Maximum allowed per guidelines is 75%.

Investment

Refinance

Cash Out - Other

2732978

Originator Post-Close

Yes

XXXX

1923680

Closed

2024-11-04 04:39

2024-11-14 17:46

Resolved

1 - Information

Property

Appraisal

Review Product 1 Valuation is Expired

Resolved-Clarification received - Due Diligence Vendor-11/14/2024
Ready for Review-XXXX does not require updated CDA for recert of value. - Buyer-11/12/2024
Open-Review Product 1 Valuation is Expired (Review Product 1 Valuation Date is greater than 120 days from the Note Date of XXXX. Days Difference is 131) Provided Desk review is on Page # 176 which is Expired Dated <120 Days from Note Date so need second appraisal for Securitization. - Due Diligence Vendor-11/04/2024

Resolved-Clarification received - Due Diligence Vendor-11/14/2024

Investment

Refinance

Cash Out - Other

2732945

N/A

XXXX

1923681

Closed

2024-11-04 10:18

2024-11-14 16:18

Resolved

1 - Information

Property

Appraisal

Review Product 1 Valuation is Expired

Resolved-Review Product 1 Valuation is Expired (Review Product 1 Valuation Date is greater than 120 days from the Note Date of XXXX.  Days Difference is 130) - Due Diligence Vendor-11/14/2024
Open-Review Product 1 Valuation is Expired (Review Product 1 Valuation Date is greater than 120 days from the Note Date of XXXX.  Days Difference is 130) - Due Diligence Vendor-11/14/2024
Ready for Review-XXXX does not require an updated CDA w/ a recert of value  - Buyer-11/12/2024
Open-Review Product 1 Valuation is Expired (Review Product 1 Valuation Date is greater than 120 days from the Note Date XXXX.  Days Difference is 130) Please provide updated desk review Valuation is Expired (Review Product 1 Valuation Date is greater than 120 days from the Note Date of XXXX. Days Difference is 130) - Due Diligence Vendor-11/04/2024

Resolved-Review Product 1 Valuation is Expired (Review Product 1 Valuation Date is greater than 120 days from the Note Date of XXXX. Days Difference is 130) - Due Diligence Vendor-11/14/2024

Investment

Refinance

Cash Out - Other

2733802

N/A

XXXX

1923681

Closed

2024-11-08 15:07

2024-11-14 13:11

Resolved

1 - Information

Credit

Ownership Type Is Not Fee Simple

Resolved-Required document Provided as Appraisal reflects Lease hold, wheraes Title reflects fee simple, provided clear explanation as property is fee simple. - Due Diligence Vendor-11/14/2024

Ready for Review-Document Uploaded. - Buyer-11/13/2024

Open-Exception present on page 108 for Leasehold Agreement does not meet guideline. Title and 1004D shows property rights as Fee simple where as appraisal report shows Leasehold. - Due Diligence Vendor-11/08/2024

Resolved-Required document Provided as Appraisal reflects Lease hold, wheraes Title reflects fee simple, provided clear explanation as property is fee simple. - Due Diligence Vendor-11/14/2024

XXXX

Investment

Refinance

Cash Out - Other

2771168

N/A

XXXX

1923709

Closed

2024-11-06 07:38

2024-11-12 08:12

Resolved

1 - Information

Credit

Title

Title Coverage is Less than Subject Lien(s) Total

Resolved-Required Document provided, changes made in system, finding resolved - Due Diligence Vendor-11/12/2024
Ready for Review-Document Uploaded. - Buyer-11/11/2024
Open-Title Coverage Amount of $XXXX is Less than Loan Amount Title Coverage amount not meet Guidelines need supporting doc to verify. - Due Diligence Vendor-11/06/2024

Resolved-Required Document provided, changes made in system, finding resolved - Due Diligence Vendor-11/12/2024

XXXX

Investment

Refinance

No Cash Out - Borrower Initiated

2750881

N/A

XXXX

1923676

Closed

2024-11-08 21:31

2024-11-13 14:55

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived-Exception made for a Cash out with less than 6 months of seasoning on title - Due Diligence Vendor-11/13/2024

Ready for Review-Document Uploaded. - Buyer-11/12/2024

Open-Loan does not conform to program guidelines Loan does not meet the 6 month cash out seasoning - Due Diligence Vendor-11/08/2024

Waived-Exception made for a Cash out with less than 6 months of seasoning on title - Due Diligence Vendor-11/13/2024

XXXX

Borrower(s) have 67.48 months Reserves. Minimum required per guidelines is 3 months.
No derogatory credit history

Investment

Refinance

Cash Out - Other

2775585

Originator Post-Close

Yes

XXXX

1901202

Closed

2024-11-19 23:57

2024-11-21 16:18

Resolved

1 - Information

Credit

Eligibility

Credit history does not meet guidelines

Resolved-Document received - Due Diligence Vendor-11/21/2024
Ready for Review-Document Uploaded. The attached documents were used for foreign credit. - Seller-11/21/2024
Open-Borrower does not meet credit requirements. 2 open tradelines reporting for 2 years with activity in the most recent 12 months. Files contains: Primary housing with no lien per borrower statement,

Contract of sale of electronics XXXX pg 168-170

Consumer loan XXXX page 364 - Due Diligence Vendor-11/20/2024

Ready for Review-Document Uploaded. The attached documents were used for foreign credit. - Seller-11/21/2024

Resolved-Document received - Due Diligence Vendor-11/21/2024

XXXX

Investment

Purchase

2844799

N/A

XXXX

1901202

Closed

2024-11-08 17:57

2024-11-19 23:59

Resolved

1 - Information

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-11/14/2024

Resolved-Document received - Due Diligence Vendor-11/14/2024

Ready for Review-Document Uploaded. - Seller-11/12/2024

Open-Housing History Does Not Meet Guideline Requirements A 12-month housing history is required for Foreign National transactions - Due Diligence Vendor-11/08/2024

Ready for Review-Document Uploaded. - Seller-11/12/2024

Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-11/14/2024

Resolved-Document received - Due Diligence Vendor-11/14/2024

XXXX

Investment

Purchase

2773313

N/A

XXXX

1901202

Closed

2024-11-14 19:01

2024-11-19 22:54

Resolved

1 - Information

Compliance

Missing Doc

The Final 1003 is Incomplete

Resolved-The Final 1003 is Present - Due Diligence Vendor-11/19/2024

Resolved-Document received - Due Diligence Vendor-11/19/2024

Ready for Review-Document Uploaded. - Seller-11/19/2024

Open-Citizenship is not chozen on final 1003 - Due Diligence Vendor-11/14/2024

Ready for Review-Document Uploaded. - Seller-11/19/2024

Resolved-The Final 1003 is Present - Due Diligence Vendor-11/19/2024

Resolved-Document received - Due Diligence Vendor-11/19/2024

XXXX

Investment

Purchase

2813182

N/A

XXXX

1901202

Closed

2024-11-08 17:49

2024-11-14 18:22

Resolved

1 - Information

Credit

Payment Letter is missing

Resolved-Document received - Due Diligence Vendor-11/14/2024

Ready for Review-Document Uploaded. - Seller-11/12/2024

Open- Please provide Automatic Payment Authorization (ACH) Form required for foreign national borrowers - Due Diligence Vendor-11/08/2024

Ready for Review-Document Uploaded. - Seller-11/12/2024

Resolved-Document received - Due Diligence Vendor-11/14/2024

XXXX

Investment

Purchase

2773225

N/A

XXXX

1901205

Closed

2024-11-08 22:48

2024-11-21 15:41

Resolved

1 - Information

Compliance

Missing Doc

Missing Mortgage

Resolved-Document/clarification received - Due Diligence Vendor-11/21/2024
Ready for Review-Document Uploaded. This file is on commercial (5+ unit) docs from XXXX. They don’t have a MERS number associated with them. We use the Corporate Assignment in place of MERS.

- Seller-11/19/2024
Open-Mortgage is present but missing Min number. - Due Diligence Vendor-11/08/2024

Ready for Review-Document Uploaded. This file is on commercial (5+ unit) docs from XXXX. They don’t have a MERS number associated with them. We use the Corporate Assignment in place of MERS.

- Seller-11/19/2024

Resolved-Document/clarification received - Due Diligence Vendor-11/21/2024

XXXX

Investment

Refinance

No Cash Out - Borrower Initiated

2776149

N/A

XXXX

1901205

Closed

2024-11-08 23:21

2024-11-19 17:18

Resolved

1 - Information

Credit

DSCR Does Not Meet Guideline Requirement

Resolved-Clarification received - Due Diligence Vendor-11/19/2024

Ready for Review-Document Uploaded. Min DSCR 1.0 1 property not blanket mortgage - Seller-11/15/2024

Open-DSCR Does Not Meet Guideline Requirement. Minimum 1.2 per matrix, 1 per GL, please clarify: Gross rental amount $6,700/ PITIA $ 5,738.16 =1.167 DSCR. Documents: 307 $1200 unit 1, 287 $1200 unit 2, 267 $1350 unit 3, 327 $1,000 unit 4, 337 $1050 unit 5, 297 $900 unit 6 - Due Diligence Vendor-11/08/2024

Ready for Review-Document Uploaded. Min DSCR 1.0 1 property not blanket mortgage - Seller-11/15/2024

Resolved-Clarification received - Due Diligence Vendor-11/19/2024

XXXX

Investment

Refinance

No Cash Out - Borrower Initiated

2776212

N/A

XXXX

1901205

Closed

2024-11-08 21:55

2024-11-14 20:57

Resolved

1 - Information

Credit

Borrower

Discrepancy between 1008 Page Qualifying FICO and actual Qualifying FICO

Resolved-Document received - Due Diligence Vendor-11/14/2024

Ready for Review-Document Uploaded. - Seller-11/12/2024

Open-Qualifying FICO on the 1008 Page is '701' or blank, but the Qualifying FICO from the Credit Liabilities Page is '683' or blank. Qualifying FICO entries do not match. Please confirm the correct Qualifying FICO value. Qualifying FICO on approval certificate is '701' but the Qualifying FICO from the Credit Liabilities is '683' - Due Diligence Vendor-11/08/2024

Ready for Review-Document Uploaded. - Seller-11/12/2024

Resolved-Document received - Due Diligence Vendor-11/14/2024

XXXX

Investment

Refinance

No Cash Out - Borrower Initiated

2775794

N/A

XXXX

1901205

Closed

2024-11-08 08:33

2024-11-13 09:24

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline requirements

Waived-Made Exception for XXXX Fico < 700: per Matrix XXXX required Minimum FICO Score is 700, verified fico is 683 which is less than min fico  - Due Diligence Vendor-11/13/2024
Ready for Review-Document Uploaded.  - Buyer-11/12/2024
Open-Audited FICO of 683 is less than Guideline FICO of 700  As per Matrix XXXX required Minimum FICO Score is 700 but Loan have 683 which is not meeting the Guidelines. Need supporting doc to meeting the guidelines.  - Due Diligence Vendor-11/08/2024

Waived-Made Exception for Professional Investor Fico < 700: per Matrix Professional Investment Program required Minimum FICO Score is 700, verified fico is 683 which is less than min fico - Due Diligence Vendor-11/13/2024

XXXX

DSCR > 1.0: minimum DSCR per GL is 1, Calculated DSCR is 1.16
Excess Reserves 3+ months: required reserves per matrix is 6, Actual reserves are 14.07

Investment

Refinance

No Cash Out - Borrower Initiated

2769125

Originator Post-Close

Yes

XXXX

1901205

Closed

2024-11-08 09:29

2024-11-08 09:31

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-As per Guidelines Minimum Sq Ft per unit is minimum 600 sq ft but as per Appraisal Unit 4, 5, and Unit 6 have <600 which is not meeting the Guidelines and same loan have exception doc is on page # 154 - Due Diligence Vendor-11/08/2024

Waived-As per Guidelines Minimum Sq Ft per unit is minimum XXXX sq ft but as per Appraisal Unit 4, 5, and Unit 6 have <XXXX which is not meeting the Guidelines and same loan have exception doc is on page # 154 - Due Diligence Vendor-11/08/2024

LTV Lower than Max Allowed - As per Matrix for DSCR 1.00 LTV for Rate and Term is 75% LTV which is meeting the guidelines.
DSCR Over 1 - As per Calculation DSCR is 1.16 which is >1.00 and meeting the guidelines requirements.

Investment

Refinance

No Cash Out - Borrower Initiated

2769234

Originator Post-Close

Yes

XXXX

1901187

Closed

2024-11-11 23:56

2024-12-04 15:47

Resolved

1 - Information

Compliance

Missing Doc

Missing Prepayment Rider

Resolved-Documents received - Due Diligence Vendor-12/04/2024

Ready for Review-Document Uploaded. - Seller-12/02/2024

Open-Prepayment rider and prepayment addendum do not reflect term. - Due Diligence Vendor-11/11/2024

Ready for Review-Document Uploaded. - Seller-12/02/2024

Resolved-Documents received - Due Diligence Vendor-12/04/2024

XXXX

Investment

Purchase

2786739

N/A

XXXX

1901187

Closed

2024-11-11 23:41

2024-11-15 15:28

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived-Borrower does not own primary residence - DSCR - Due Diligence Vendor-11/15/2024

Ready for Review-Document Uploaded. - Seller-11/13/2024

Open-Loan does not conform to program guidelines Borrower does not own primary residence - DSCR - Due Diligence Vendor-11/11/2024

Ready for Review-Document Uploaded. - Seller-11/13/2024

Waived-Borrower does not own primary residence - DSCR - Due Diligence Vendor-11/15/2024

XXXX

DSCR is 1.198. Minimum required per guidelines is 1.
Credit Score is 806. Minimum required per guidelines is 700.
Borrower(s) have 122.73 months Reserves. Minimum required per guidelines is 6 months.
LTV is 75%. Maximum allowed per guidelines is 80%.

Investment

Purchase

2786658

Originator Post-Close

Yes

XXXX

1901187

Closed

2024-11-12 00:05

2024-11-15 15:28

Waived

2 - Non-Material

Credit

Eligibility

Excessive Seller Contributions

Waived-Seller credit >2% - Due Diligence Vendor-11/15/2024

Ready for Review-Document Uploaded. - Seller-11/13/2024

Open-Seller credits exceed 2% - Due Diligence Vendor-11/12/2024

Ready for Review-Document Uploaded. - Seller-11/13/2024

Waived-Seller credit >2% - Due Diligence Vendor-11/15/2024

XXXX

Investment

Purchase

2786760

Originator Post-Close

Yes

XXXX

1901187

Closed

2024-11-11 23:44

2024-11-15 15:20

Resolved

1 - Information

Credit

FEMA disaster issue and/or risk. (2)

Resolved-Investor approval received - Due Diligence Vendor-11/15/2024
Ready for Review-Document Uploaded. - Seller-11/13/2024
Open-Property potentially affected by FEMA Disaster. XXXX - Declared XXXX without an Incident End Date with Public Assistance: YES and Individual Assistance: YES. After the disaster end date, a Property inspection with exterior photos is required.
- Due Diligence Vendor-11/11/2024

Ready for Review-Document Uploaded. - Seller-11/13/2024

Resolved-Investor approval received - Due Diligence Vendor-11/15/2024

XXXX

Investment

Purchase

2786687

N/A

XXXX

1901187

Closed

2024-11-11 23:44

2024-11-15 15:20

Resolved

1 - Information

Credit

FEMA disaster issue and/or risk.

Resolved-Investor approval received - Due Diligence Vendor-11/15/2024
Ready for Review-Document Uploaded. - Buyer-11/13/2024
Open-Property potentially affected by FEMA Disaster. XXXX - Declared XXXX without an Incident End Date with Public Assistance: YES and Individual Assistance: YES. After the disaster end date, a Property inspection with exterior photos is required.
- Due Diligence Vendor-11/11/2024

Resolved-Investor approval received - Due Diligence Vendor-11/15/2024

XXXX

Investment

Purchase

2786686

N/A

XXXX

1901187

Closed

2024-11-08 15:49

2024-11-14 08:26

Resolved

1 - Information

Credit

Borrower

Discrepancy between 1008 Page Qualifying FICO and actual Qualifying FICO

Resolved-Required Document Provided, changes made in system, finding Resolved - Due Diligence Vendor-11/14/2024

Ready for Review-Document Uploaded. - Seller-11/13/2024

Open-Qualifying FICO on the 1008 Page is '793' or blank, but the Qualifying FICO from the Credit Liabilities Page is '806' or blank. Qualifying FICO entries do not match. Please confirm the correct Qualifying FICO value. Qualifying FICO on the approval certificate is '793', However the Qualifying FICO from the Credit Liabilities is '806' - Due Diligence Vendor-11/08/2024

Ready for Review-Document Uploaded. - Seller-11/13/2024

Resolved-Required Document Provided, changes made in system, finding Resolved - Due Diligence Vendor-11/14/2024

XXXX

Investment

Purchase

2771636

N/A

XXXX

1923707

Closed

2024-11-11 04:57

2024-12-02 15:50

Waived

2 - Non-Material

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Waived-DSCR/ Borrower does not own primary - Due Diligence Vendor-12/02/2024

Ready for Review-Document Uploaded.  - Buyer-11/26/2024

Counter-Housing History Does Not Meet Guideline Requirements Borrower does not own primary housing - DSCR - Due Diligence Vendor-11/26/2024

Resolved-Required Document provided, changes made in system, Finding Resolved - Due Diligence Vendor-11/26/2024

Ready for Review-Document Uploaded.  - Buyer-11/25/2024

Open-Housing History Does Not Meet Guideline Requirements Borrower does not own primary housing - DSCR. Borrower living in rental house and lease agreement provided in page #256, however VOR/ Rental receipts missing in file.  - Due Diligence Vendor-11/11/2024

Waived-DSCR/ Borrower does not own primary - Due Diligence Vendor-12/02/2024

Resolved-Required Document provided, changes made in system, Finding Resolved - Due Diligence Vendor-11/26/2024

XXXX

Borrower(s) have 117.79 months Reserves. Minimum required per guidelines is 9 months. Funds from cash out.
Credit Score is 704. Minimum required per guidelines is 660. Rental payments made on time 12 months.
LTV is 59.87%. Maximum allowed per guidelines is 70%.

Investment

Refinance

Cash Out - Other

2778447

Originator Post-Close

Yes

XXXX

1923707

Closed

2024-11-11 06:22

2024-11-19 20:37

Resolved

1 - Information

Credit

Insurance

HO-6 Insurance Policy is only Partially Present

Resolved-HO-6 Insurance Policy is fully present - Due Diligence Vendor-11/19/2024

Ready for Review-Document Uploaded. - Seller-11/18/2024

Open-HO-6 Insurance Policy is only Partially Present Binder is present but missing policy number and effective date/expiration date. - Due Diligence Vendor-11/11/2024

Ready for Review-Document Uploaded. - Seller-11/18/2024

Resolved-HO-6 Insurance Policy is fully present - Due Diligence Vendor-11/19/2024

XXXX

Investment

Refinance

Cash Out - Other

2778612

N/A

XXXX

1923707

Closed

2024-11-11 21:41

2024-11-18 15:14

Resolved

1 - Information

Credit

Title

Potential Ownership issues identified in file

Resolved-Document received. - Due Diligence Vendor-11/18/2024

Ready for Review-Document Uploaded. - Buyer-11/14/2024

Counter-Please upload document - Due Diligence Vendor-11/14/2024

Ready for Review-Title search in the title states there are no outstanding liens on the subject property - Buyer-11/12/2024

Open-Please provide proof of subject ownership free and clear for unlimited cash out. - Due Diligence Vendor-11/11/2024

Resolved-Document received. - Due Diligence Vendor-11/18/2024

XXXX

Investment

Refinance

Cash Out - Other

2786028

N/A

XXXX

1901199

Closed

2024-11-13 17:34

2024-11-15 16:42

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived- - Due Diligence Vendor-11/15/2024

Ready for Review-Document Uploaded. - Buyer-11/14/2024

Open-Loan does not conform to program guidelines B2 does not own a primary residence - DSCR - Due Diligence Vendor-11/13/2024

XXXX

Borrower(s) have 25.56 months Reserves. Minimum required per guidelines is 3 months.
Credit Score is 763. Minimum required per guidelines is 700. No lates

Investment

Purchase

2801941

Originator Post-Close

Yes

XXXX

1901189

Closed

2024-11-13 19:44

2024-12-02 23:56

Resolved

1 - Information

Credit

If the Guarantor is married spouse must approve

Resolved- - Due Diligence Vendor-12/02/2024

Counter-Received clarification on the spousal consent. Ok to proceed with the clarification.  - Due Diligence Vendor-12/02/2024

Ready for Review-Document Uploaded. Please see email from our TX attorney -advised Because the loan is a purchase money lien and the property is NOT the homestead of the borrower, spousal joinder is not required to perfect the lien. - Buyer-11/26/2024

Counter-Unfortunately occupancy does not change the community property state rules. Texas is a community property state and requires spousal consent  - Due Diligence Vendor-11/21/2024

Ready for Review-review pending w/ management - Due Diligence Vendor-11/21/2024

Ready for Review-Document Uploaded.  - Buyer-11/19/2024

Counter-Property is in Consent state - Due Diligence Vendor-11/15/2024

Ready for Review-This is an investment property.  Spouse does not need to consent. - Buyer-11/14/2024

Open-Please provide spousal consent - Due Diligence Vendor-11/13/2024

XXXX

Investment

Purchase

2803862

N/A

XXXX

1901206

Closed

2024-11-13 23:12

2024-11-27 00:27

Resolved

1 - Information

Credit

Appraisal deficiency.

Resolved-document received. - Due Diligence Vendor-11/27/2024

Ready for Review-Document Uploaded. - Buyer-11/25/2024

Open-Appraisal notes flood zone as X500 while flood certificate has flood zone as AE. - Due Diligence Vendor-11/13/2024

Resolved-document received. - Due Diligence Vendor-11/27/2024

XXXX

Investment

Refinance

Cash Out - Other

2805673

N/A

XXXX

1901206

Closed

2024-11-13 20:54

2024-11-19 20:42

Resolved

1 - Information

Credit

Property potentially affected by FEMA Disaster(s) PUBLIC ASSISTANCE AREA

Resolved-Document received - Due Diligence Vendor-11/19/2024
Ready for Review-Document Uploaded. - Buyer-11/18/2024
Open-Property potentially affected by FEMA Disaster ID XXXX - Declared XXXX with an Incident End Date of XXXX with Public Assistance: YES and Individual Assistance: NO. Property inspection with exterior photos required.
- Due Diligence Vendor-11/13/2024

Resolved-Document received - Due Diligence Vendor-11/19/2024

XXXX

Investment

Refinance

Cash Out - Other

2804684

N/A

XXXX

1901206

Closed

2024-11-13 21:59

2024-11-18 15:23

Resolved

1 - Information

Credit

Missing Doc

Hazard Insurance Policy is Missing

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-11/18/2024

Resolved-Document received - Due Diligence Vendor-11/18/2024

Ready for Review-Document Uploaded. - Buyer-11/14/2024

Open-Missing Hazard Insurance Policy Binder is present put does not have a policy number - Due Diligence Vendor-11/13/2024

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-11/18/2024

Resolved-Document received - Due Diligence Vendor-11/18/2024

XXXX

Investment

Refinance

Cash Out - Other

2805222

N/A

XXXX

1901206

Closed

2024-11-12 09:19

2024-11-15 11:46

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Made exception for 5% over LTV requirement: Max LTV per Matrix is 70%, Verified is 75% which is higher than GL requirement LTV of 70%. - Due Diligence Vendor-11/15/2024

Ready for Review-Document Uploaded. - Seller-11/14/2024

Open-Audited LTV of 75% exceeds Guideline LTV of 70% FICO of 683 LTV = 70%, 2x30x12 refi = 70% - Due Diligence Vendor-11/12/2024

Ready for Review-Document Uploaded. - Seller-11/14/2024

Waived-Made exception for 5% over LTV requirement: Max LTV per Matrix is 70%, Verified is 75% which is higher than GL requirement LTV of 70%. - Due Diligence Vendor-11/15/2024

XXXX

DSCR over 1%: Min DSCR per GL is 1, Calculated DSCR is 1.024
Additional 3 months of reserves: Required Reserves are 3, actual reserves are 114.07

Investment

Refinance

Cash Out - Other

2787740

Originator Post-Close

Yes

XXXX

1923679

Closed

2024-11-13 21:32

2024-11-19 17:15

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived-Exception made for subject property being <25 miles of primary residence - Due Diligence Vendor-11/19/2024

Ready for Review-Document Uploaded. - Buyer-11/18/2024

Open-Loan does not conform to program guidelines 2 exceptions on file, need additional comp factors, cannot utilize cash out as a comp factor - Due Diligence Vendor-11/13/2024

Waived-Exception made for subject property being <25 miles of primary residence - Due Diligence Vendor-11/19/2024

XXXX

4+ yrs history with no late-Verified.
Borrower has owned property 5+ yrs-Verified.
Credit Score is 807. Minimum required per guidelines is 720-Verified.

Investment

Refinance

Cash Out - Other

2804997

Originator Post-Close

Yes

XXXX

1923679

Closed

2024-11-13 06:08

2024-11-18 07:07

Waived

2 - Non-Material

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Waived-Exception Provided:
Living rent free & Subject < 25 miles from current primary on DSCR. - Due Diligence Vendor-11/18/2024

Ready for Review-Document Uploaded. - Buyer-11/15/2024

Open-2 exceptions on file, need additional comp factors, cannot utilize cash out as a comp factor - Due Diligence Vendor-11/13/2024

Waived-Housing History Does Not Meet Guideline Requirements As per Guidelines borrower is staying in Rent free with in <25 miles from Subject Property same we have Exception doc is on Page # 364. - Due Diligence Vendor-11/13/2024

Waived-Exception Provided:
Living rent free & Subject < 25 miles from current primary on DSCR. - Due Diligence Vendor-11/18/2024

Waived-Housing History Does Not Meet Guideline Requirements As per Guidelines borrower is staying in Rent free with in <25 miles from Subject Property same we have Exception doc is on Page # 364. - Due Diligence Vendor-11/13/2024

XXXX

Compensating factors:
1. 4+ yrs history with no late-Verified.
2. Borrower has owned property 5+ yrs-Verified.
3. Credit Score is 807. Minimum required per guidelines is 720-Verified.

Investment

Refinance

Cash Out - Other

2797268

Originator Pre-Close

Yes

XXXX

1901745

Closed

2024-11-18 12:13

2024-12-11 09:00

Resolved

1 - Information

Credit

Eligibility

Business Entity EIN Number Missing

Resolved-Required Document Provided, changes made in system, Finding Resolved. - Due Diligence Vendor-12/11/2024

Ready for Review-Document Uploaded. - Buyer-12/10/2024

Open-Missing verification of EIN number - Due Diligence Vendor-11/18/2024

Resolved-Required Document Provided, changes made in system, Finding Resolved. - Due Diligence Vendor-12/11/2024

XXXX

Investment

Refinance

Cash Out - Other

2828031

N/A

XXXX

1901745

Closed

2024-11-20 10:32

2024-12-03 00:05

Resolved

1 - Information

Compliance

Closing

Final HUD-1 Closing Date does not match Transaction Date

Resolved-Received updated settlement statement. Finding has been resolved and cleared. - Due Diligence Vendor-12/03/2024
Resolved-Final HUD-1 Closing Date matches the Notary Acknowledgement Date or Not Applicable. - Due Diligence Vendor-12/03/2024
Ready for Review-Document Uploaded. - Buyer-11/26/2024
Open-Final HUD-1 Closing Date of XXXX is not the same date as the Notary Acknowledgement Date of XXXX. - Due Diligence Vendor-11/20/2024

XXXX

Investment

Refinance

Cash Out - Other

2846060

N/A

XXXX

1901745

Closed

2024-11-18 10:44

2024-11-22 07:58

Waived

2 - Non-Material

Property

Missing Doc

Second Appraisal/ Valuation is Missing

Waived-Exception provided
-Desk Review not by XXXX.
- Due Diligence Vendor-11/22/2024
Ready for Review-Document Uploaded. - Buyer-11/21/2024
Open-Secondary Valuation or Additional Valuation (with acceptable variance to Primary) is missing per guideline requirements and CU Score, if present, is greater than 2.5 Secondary Valuation or Additional Valuation is missing in file - Due Diligence Vendor-11/18/2024

Waived-Exception provided
-Desk Review not by Clear Capital or Protek.
- Due Diligence Vendor-11/22/2024

XXXX

DSCR is 2.147. Minimum required per guidelines is 1.
LTV is 70%. Maximum allowed per guidelines is 70%.

Investment

Refinance

Cash Out - Other

2827615

Originator Post-Close

Yes

XXXX

1901756

Closed

2024-12-02 20:43

2024-12-05 16:48

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived-DSCR, borrower does not own primary residence. - Due Diligence Vendor-12/05/2024

Ready for Review-Document Uploaded. - Buyer-12/03/2024

Open-Loan does not conform to program guidelines Borrower does not own primary residence - Due Diligence Vendor-12/02/2024

Waived-DSCR, borrower does not own primary residence. - Due Diligence Vendor-12/05/2024

XXXX

DSCR is 1.406. Minimum required per guidelines is 1.
Credit Score is 776. Minimum required per guidelines is 700. 3 mortgage in the last 24 months, no lates
Borrower(s) have 39.36 months Reserves. Minimum required per guidelines is 3 months.

Investment

Purchase

2910716

Originator Post-Close

Yes

XXXX

1901756

Closed

2024-11-25 05:47

2024-12-04 11:32

Resolved

1 - Information

Credit

Lender Approval Form is Missing

Resolved-Provided is XXXX Approval. HOA is XXXX; Finding Resolved - Due Diligence Vendor-12/04/2024
Ready for Review-Document Uploaded. - Buyer-12/03/2024
Open-Lender approval doc on page # 266 notes FICO as 778, lowest mid score from credit reporting 776. - Due Diligence Vendor-11/25/2024

Resolved-Provided is XXXX Approval. HOA is XXXX approved; Finding Resolved - Due Diligence Vendor-12/04/2024

XXXX

Investment

Purchase

2873744

N/A

XXXX

1923682

Closed

2024-12-04 22:30

2024-12-19 23:42

Resolved

1 - Information

Credit

Appraisal deficiency.

Resolved-Document received, update present - Due Diligence Vendor-12/19/2024

Ready for Review-Document Uploaded. - Seller-12/18/2024

Open-Appraisal is present however notes flood zone as X which is not supported by flood certificate - Due Diligence Vendor-12/04/2024

Ready for Review-Document Uploaded. - Seller-12/18/2024

Resolved-Document received, update present - Due Diligence Vendor-12/19/2024

XXXX

Investment

Purchase

2933076

N/A

XXXX

1923682

Closed

2024-11-26 10:25

2024-12-19 23:40

Resolved

1 - Information

Property

Missing Doc

Missing Homeowner's Association Questionnaire

Resolved-HOA Questionnaire is Present - Due Diligence Vendor-12/19/2024

Resolved-Provided Fannie mae document, Finding Resolved
- Due Diligence Vendor-12/06/2024

Ready for Review-Document Uploaded. Per UW - not required FNMA approved -see attached. pg 2 - Buyer-12/05/2024

Open-HOA Questionnaire is Missing or Partial. Property type is Condo. As per Guidelines we required condo Questionnaire doc. - Due Diligence Vendor-11/26/2024

Resolved-HOA Questionnaire is Present - Due Diligence Vendor-12/19/2024

Resolved-Provided Fannie mae document, Finding Resolved
- Due Diligence Vendor-12/06/2024

XXXX

Investment

Purchase

2883536

N/A

XXXX

1923682

Closed

2024-12-04 20:34

2024-12-10 16:46

Resolved

1 - Information

Credit

Property potentially affected by FEMA Disaster(s) INDIVIDUAL ASSISTANCE AREA (3)

Resolved-Document received - Due Diligence Vendor-12/10/2024
Ready for Review-Document Uploaded. - Seller-12/06/2024
Open-Property potentially affected by FEMA Disaster ID XXXX - Declared XXXX with an Incident End Date of XXXX with Public Assistance: YES and Individual Assistance: YES. Property inspection with exterior photos required.
- Due Diligence Vendor-12/04/2024

Ready for Review-Document Uploaded. - Seller-12/06/2024

Resolved-Document received - Due Diligence Vendor-12/10/2024

XXXX

Investment

Purchase

2931985

N/A

XXXX

1923682

Closed

2024-11-26 11:34

2024-12-06 08:52

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Made Exception for Loan Amount < $XXXX: Minimum Loan Per Gl is $XXXX, provided is $XXXX, does not meet GL Requirements - Due Diligence Vendor-12/06/2024
Ready for Review-Document Uploaded. - Seller-12/05/2024
Open-Audited Loan Amount is less than Guideline Minimum Loan Amount Loan Amount Not meet guidelines. As er Guidelines minimum Loan amount is XXXX. - Due Diligence Vendor-11/26/2024

Ready for Review-Document Uploaded. - Seller-12/05/2024

Waived-Made Exception for Loan Amount < $XXXX: Minimum Loan Per Gl is $XXXX, provided is $XXXX, does not meet GL Requirements - Due Diligence Vendor-12/06/2024

XXXX

LTV 5% or more below max: Max LTV per Matrix is 70%, calculated LTV is 65% which is below the max LTV
Excess Reserves 3+ months: Required Reserves per GL is 3, Actual Reserves are 21.07

Investment

Purchase

2883744

Originator Post-Close

Yes

XXXX

1901742

Closed

2024-12-08 04:57

2024-12-16 10:03

Resolved

1 - Information

Credit

Title

Title Coverage is Less than Subject Lien(s) Total

Resolved-Required Document provided, changes made in system, Finding Resolved - Due Diligence Vendor-12/16/2024
Ready for Review-Document Uploaded. - Buyer-12/13/2024
Open-Title Coverage Amount of $XXXX is Less than Loan Amount Coverage amounts not meeting the Loan amount. - Due Diligence Vendor-12/08/2024

Resolved-Required Document provided, changes made in system, Finding Resolved - Due Diligence Vendor-12/16/2024

XXXX

Investment

Refinance

Cash Out - Other

2956546

N/A

XXXX

1939840

Closed

2024-12-12 19:32

2024-12-17 14:41

Waived

2 - Non-Material

Credit

Tradeline minimum has not met guidelines

Waived-Exception made for insufficient tradelines - Due Diligence Vendor-12/17/2024

Ready for Review-Document Uploaded. - Buyer-12/13/2024

Open-Missing exception for not meeting min. tradeline requirement - Due Diligence Vendor-12/12/2024

Waived-Exception made for insufficient tradelines - Due Diligence Vendor-12/17/2024

XXXX

DSCR is 2.038. Minimum required per guidelines is 1.
Credit Score is 783. Minimum required per guidelines is 740.
LTV is 23.81%. Maximum allowed per guidelines is 70%.

Investment

Refinance

Cash Out - Other

2995110

Originator Pre-Close

Yes

XXXX

1939840

Closed

2024-12-12 19:39

2024-12-17 14:40

Waived

Valuation

Appraisal

Waived-Exception made for not all units having 600+ sq feet of space - Due Diligence Vendor-12/17/2024

Ready for Review-Document Uploaded. - Buyer-12/13/2024

Open-Guidelines requires 600 sq feet per unit, 5-8 units are on a case by case basis, no confirmation of approval in file - Due Diligence Vendor-12/12/2024

Waived-Exception made for not all units having 600+ sq feet of space - Due Diligence Vendor-12/17/2024

XXXX

DSCR is 2.038. Minimum required per guidelines is 1.
Credit Score is 783. Minimum required per guidelines is 740.
LTV is 23.81%. Maximum allowed per guidelines is 70%.

Investment

Refinance

Cash Out - Other

2995249

Originator Post-Close

Yes

XXXX

1939840

Closed

2024-12-12 19:28

2024-12-17 14:33

Resolved

1 - Information

Credit

Missing Doc

Title Document is Incomplete

Resolved-Title Document is Provided And Complete - Due Diligence Vendor-12/17/2024

Ready for Review-Document Uploaded. - Buyer-12/13/2024

Ready for Review-Document Uploaded. - Buyer-12/13/2024

Open-Title Document is Incomplete 1. Missing sufficient coverage
2. Missing vesting in borrower name - Due Diligence Vendor-12/12/2024

Resolved-Title Document is Provided And Complete - Due Diligence Vendor-12/17/2024

XXXX

Investment

Refinance

Cash Out - Other

2995075

N/A

XXXX

1923683

Closed

2024-12-13 20:55

2024-12-18 18:01

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived-DSCR/ Does not own primary residence - Due Diligence Vendor-12/18/2024

Ready for Review-Document Uploaded. - Buyer-12/16/2024

Open-Loan does not conform to program guidelines Borrower does not own primary residence, no housing expense or listing of primary address in REO. DSCR. - Due Diligence Vendor-12/13/2024

Waived-DSCR/ Does not own primary residence - Due Diligence Vendor-12/18/2024

XXXX

DSCR is 1.055. Minimum required per guidelines is 1.
Borrower(s) have 8.77 months Reserves. Minimum required per guidelines is 3 months.
Credit Score is 745. Minimum required per guidelines is 700.

Investment

Refinance

No Cash Out - Borrower Initiated

3005336

Originator Post-Close

Yes

XXXX

1923697

Closed

2024-12-13 17:15

2024-12-17 14:58

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-CD provided, finding resolved - Due Diligence Vendor-12/17/2024

Ready for Review-Document Uploaded. - Buyer-12/13/2024

Open-Missing settlement statement for sales proceeds - Due Diligence Vendor-12/13/2024

Resolved-CD provided, finding resolved - Due Diligence Vendor-12/17/2024

XXXX

Investment

Refinance

No Cash Out - Borrower Initiated

3002674

N/A

XXXX

1923697

Closed

2024-12-13 17:20

2024-12-17 14:58

Waived

2 - Non-Material

Credit

Tradeline minimum has not met guidelines

Waived-Exception made for minimum tradelines not being met - Due Diligence Vendor-12/17/2024

Ready for Review-Document Uploaded. - Buyer-12/13/2024

Open- - Due Diligence Vendor-12/13/2024

Waived-Exception made for minimum tradelines not being met - Due Diligence Vendor-12/17/2024

XXXX

Residual Income is $15947.14. Minimum Residual Income required per guidelines is $3500.
DTI is 24.15%. Maximum allowed per guidelines is 50%.
Credit Score is 753. Minimum required per guidelines is 700.

Investment

Refinance

No Cash Out - Borrower Initiated

3002699

Originator Post-Close

Yes

XXXX

1923686

Closed

2024-12-18 18:44

2024-12-23 15:23

Resolved

1 - Information

Credit

Eligibility

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

Resolved-Audited Reserves of 13.95 month(s) are greater than or equal to Guideline Required Reserves of 3 month(s) - Due Diligence Vendor-12/23/2024
Resolved-Documents received, data updated. - Due Diligence Vendor-12/23/2024
Ready for Review-Borrower took out 401k loan -deposit $XXXX - Buyer-12/20/2024
Counter-Which accounts are being considered for asset/reserves: If a non borrower account is being used, please provide access letter. If borrower is receiving a gift, please provide a gift letter. As can be determined from the documents received: Please provide source of funds for $XXXX to XXXX from XXXX as noted on document. #XXXX from XXXX is undetermined as to where it was placed. $XXXX deposited to #XXXX non borrower from property sale. - Due Diligence Vendor-12/20/2024
Ready for Review-Document Uploaded. - Buyer-12/18/2024
Open-Audited Reserves of month(s) are less than Guideline Required Reserves of 3 month(s) Please provide further assets as noted on 1003. File does not contain XXXX - Due Diligence Vendor-12/18/2024

XXXX

Investment

Purchase

3035294

N/A

XXXX

1923686

Closed

2024-12-18 18:25

2024-12-19 23:52

Resolved

1 - Information

Credit

Missing Doc

Business Purpose Affidavit is Missing

Resolved-The Business Purpose Affidavit is present or Not Applicable (1008 Page Loan Type is DSCR.) - Due Diligence Vendor-12/19/2024

Resolved-Document received, data updated - Due Diligence Vendor-12/19/2024

Ready for Review-Document Uploaded. - Buyer-12/18/2024

Open-The 1008 Page Loan Type is 'DSCR' but the Business Purpose Affidavit Disclosure Indicator is 'Missing'. Business Purpose Affidavit is required for a DSCR loan. Business purpose affidavit is present however not initialed confirming property will not be occupied by member of LLC or family member - Due Diligence Vendor-12/18/2024

XXXX

Investment

Purchase

3034988

N/A

XXXX

1923717

Closed

2024-12-17 16:37

2024-12-19 14:38

Resolved

1 - Information

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-12/19/2024

Ready for Review-Document Uploaded. - Buyer-12/17/2024

Open-Housing History Does Not Meet Guideline Requirements Missing housing history for primary residence - Due Diligence Vendor-12/17/2024

Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-12/19/2024

XXXX

Investment

Purchase

3023123

N/A

XXXX

1923717

Closed

2024-12-14 09:17

2024-12-18 10:55

Resolved

1 - Information

Credit

Lender Approval Form is Missing

Resolved-Resolved as requested updated Lender approval provided with updated PPP Terms.
- Due Diligence Vendor-12/18/2024

Ready for Review-Document Uploaded. - Buyer-12/17/2024

Open-Lender approval form is on Page # 434 shows Loan program PPP 1 YR But as per Note Doc shows 5% with 36 months. - Due Diligence Vendor-12/14/2024

Resolved-Resolved as requested updated Lender approval provided with updated PPP Terms.
- Due Diligence Vendor-12/18/2024

XXXX

Investment

Purchase

3007277

N/A

XXXX

1939522

Closed

2024-12-24 01:59

2024-12-31 15:24

Resolved

1 - Information

Credit

Missing Doc

Missing VOM or VOR

Resolved-Document received. Housing history updated. - Due Diligence Vendor-12/31/2024

Resolved-Validation Resolved' - Due Diligence Vendor-12/31/2024

Ready for Review-Document Uploaded. Mortgage in wife's name but borrower is on title - Buyer-12/27/2024

Open-Please provide proof of ownership for primary residence - Due Diligence Vendor-12/24/2024

Resolved-Document received. Housing history updated. - Due Diligence Vendor-12/31/2024

Resolved-Validation Resolved' - Due Diligence Vendor-12/31/2024

XXXX

Investment

Purchase

3073043

N/A

XXXX

1923684

Closed

2024-12-24 19:12

2025-01-02 20:16

Resolved

1 - Information

Credit

Missing Doc

Missing letter of explanation

Resolved-Clarification received, data updated. - Due Diligence Vendor-01/02/2025

Ready for Review-Document Uploaded. borrower made home improvements since purchase reason for vacancy - Buyer-12/30/2024

Open-Please provide LOX for cause of vacancy - Due Diligence Vendor-12/24/2024

Resolved-Clarification received, data updated. - Due Diligence Vendor-01/02/2025

XXXX

Investment

Refinance

Cash Out - Other

3079143

N/A

XXXX

1923684

Closed

2024-12-23 12:43

2024-12-31 07:51

Resolved

1 - Information

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-12/31/2024

Ready for Review-Document Uploaded. - Buyer-12/30/2024

Open-Housing History Does Not Meet Guideline Requirements Please provide proof of ownership for primary residence. DSCR - Due Diligence Vendor-12/23/2024

Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-12/31/2024

XXXX

Investment

Refinance

Cash Out - Other

3065143

N/A

XXXX

1923693

Closed

2024-12-24 19:09

2025-01-02 20:01

Resolved

1 - Information

Credit

Missing Doc

Business Purpose Affidavit is Missing

Resolved-Received business purpose disclosure, finding resolved - Due Diligence Vendor-01/02/2025

Ready for Review-Document Uploaded. - Buyer-12/30/2024

Open-Disclosure checkbox not marked - Due Diligence Vendor-12/24/2024

Resolved-Received business purpose disclosure, finding resolved - Due Diligence Vendor-01/02/2025

XXXX

Investment

Purchase

3079120

N/A

XXXX

1923693

Closed

2024-12-24 19:35

2025-01-02 20:00

Resolved

1 - Information

Credit

Missing Doc

Title Document is Incomplete

Resolved-Title Document is Provided And Complete - Due Diligence Vendor-01/02/2025

Ready for Review-Document Uploaded. - Buyer-12/30/2024

Ready for Review-Document Uploaded. - Buyer-12/30/2024

Open-Title Document is Incomplete 1. Missing vesting in borrowers names
2. Missing sufficient coverage - Due Diligence Vendor-12/24/2024

Resolved-Title Document is Provided And Complete - Due Diligence Vendor-01/02/2025

XXXX

Investment

Purchase

3079698

N/A

XXXX

1923689

Closed

2024-12-24 17:00

2025-01-06 15:26

Waived

2 - Non-Material

Credit

Assets

Cash Out Does Not Meet Guideline Requirements

Waived-Cash out < 6 months seasoning - Due Diligence Vendor-01/02/2025
Ready for Review-Document Uploaded. - Buyer-12/30/2024
Open-Cash Out is not completed according to the guideline requirements Property was purchased XXXX according to title document. Seasoning <6 months - Due Diligence Vendor-12/24/2024

Waived-Cash out < 6 months seasoning - Due Diligence Vendor-01/02/2025

XXXX

DSCR is 1.033. Minimum required per guidelines is 1.
Credit Score is 811. Minimum required per guidelines is 700.
No mortgage lates in the last 24 months.

Investment

Refinance

Cash Out - Other

3077371

Originator Post-Close

Yes

XXXX

1923689

Closed

2024-12-24 16:34

2025-01-06 15:16

Resolved

1 - Information

Compliance

Missing Doc

The Deed of Trust is Missing

Resolved-The Deed of Trust is Present - Due Diligence Vendor-01/06/2025

Resolved-Document received, data updated. - Due Diligence Vendor-01/06/2025

Ready for Review-Document Uploaded. - Buyer-01/02/2025

Counter-Upload is for different borrower - Due Diligence Vendor-01/02/2025

Ready for Review-Document Uploaded. - Buyer-12/30/2024

Open-The Deed of Trust is Missing Deed of Trust is present but missing signed notary page - Due Diligence Vendor-12/24/2024

Resolved-The Deed of Trust is Present - Due Diligence Vendor-01/06/2025

Resolved-Document received, data updated. - Due Diligence Vendor-01/06/2025

XXXX

Investment

Refinance

Cash Out - Other

3077093

N/A

XXXX

1939843

Closed

2024-12-26 18:18

2025-01-06 20:45

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived-Exception made for Subject property less than 25 miles from current primary - Due Diligence Vendor-01/06/2025

Ready for Review-Document Uploaded. - Buyer-01/02/2025

Open-Loan does not conform to program guidelines Need additional comp factor, maximum LTV allowed is 75%, loan currently is at 75% - Due Diligence Vendor-12/26/2024

Waived-Exception made for Subject property less than 25 miles from current primary - Due Diligence Vendor-01/06/2025

XXXX

Borrower(s) have 12.32 months Reserves. Minimum required per guidelines is 3 months.
Experienced investor, owns 2 additional investment properties
Credit Score is 720. Minimum required per guidelines is 800.

Investment

Purchase

3086142

Originator Post-Close

Yes

XXXX

1939843

Closed

2024-12-26 18:17

2025-01-06 20:44

Waived

2 - Non-Material

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Waived-Exception made for Borrower’s living rent free /DSCR - Due Diligence Vendor-01/06/2025

Ready for Review-Document Uploaded. - Buyer-01/02/2025

Open-Need additional comp factor, maximum LTV allowed is 75%, loan currently is at 75% - Due Diligence Vendor-12/26/2024

Waived-Exception made for Borrower’s living rent free /DSCR - Due Diligence Vendor-01/06/2025

XXXX

Investment

Purchase

3086111

Originator Post-Close

Yes

XXXX

1939843

Closed

2024-12-26 18:06

2024-12-30 13:51

Resolved

1 - Information

Credit

Missing Doc

Business Purpose Affidavit is Missing

Resolved-Received disclosure, finding resolved - Due Diligence Vendor-12/30/2024

Ready for Review-Document Uploaded. - Buyer-12/27/2024

Open-Business Purpose disclosure missing checkmark on checkbox - Due Diligence Vendor-12/26/2024

Resolved-Received disclosure, finding resolved - Due Diligence Vendor-12/30/2024

XXXX

Investment

Purchase

3085945

N/A

XXXX

1939521

Closed

2025-01-03 15:46

2025-01-13 14:28

Resolved

1 - Information

Credit

Missing Doc

Business Purpose Affidavit is Missing

Resolved-Finding resolved, received BP disclosure - Due Diligence Vendor-01/13/2025

Ready for Review-Document Uploaded. - Seller-01/09/2025

Counter-Missing checkbox selection on business purpose disclosure - Due Diligence Vendor-01/09/2025

Ready for Review-Document Uploaded. - Buyer-01/07/2025

Open-Business purpose disclosure missing check mark in the check box - Due Diligence Vendor-01/03/2025

Ready for Review-Document Uploaded. - Seller-01/09/2025

Resolved-Finding resolved, received BP disclosure - Due Diligence Vendor-01/13/2025

XXXX

Investment

Refinance

Cash Out - Other

3132042

N/A

XXXX

1939521

Closed

2025-01-03 16:48

2025-01-09 15:45

Resolved

1 - Information

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-01/09/2025

Ready for Review-Document Uploaded. Note in spouse name only - Buyer-01/07/2025

Open-Housing History Does Not Meet Guideline Requirements 1x60x12 listed on supplemental report - Due Diligence Vendor-01/03/2025

Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-01/09/2025

XXXX

Investment

Refinance

Cash Out - Other

3132997

N/A

XXXX

1939521

Closed

2024-12-30 14:22

2025-01-08 08:05

Resolved

1 - Information

Credit

Title

Title Coverage is Less than Subject Lien(s) Total

Resolved-Required Document provided, Changes Made in system, finding resolved - Due Diligence Vendor-01/08/2025
Resolved-Title Coverage Amount of $XXXX is equal to or greater than Total Amount of Subject Lien(s) - Due Diligence Vendor-01/08/2025
Ready for Review-Document Uploaded. - Seller-01/07/2025
Open-Title Coverage Amount of $XXXX is Less than Loan Amount Title coverage amount of $XXXX is less than loan amount. - Due Diligence Vendor-12/30/2024

Ready for Review-Document Uploaded. - Seller-01/07/2025

Resolved-Required Document provided, Changes Made in system, finding resolved - Due Diligence Vendor-01/08/2025

Resolved-Title Coverage Amount of $297000 is equal to or greater than Total Amount of Subject Lien(s) - Due Diligence Vendor-01/08/2025

XXXX

Investment

Refinance

Cash Out - Other

3100586

N/A

XXXX

1939520

Closed

2025-01-03 03:01

2025-01-16 10:40

Resolved

1 - Information

Property

Missing Doc

Missing Updated Completion Report (442/10040)

Resolved-Required Document Provided, changes made in system, Finding Resolved - Due Diligence Vendor-01/16/2025

Ready for Review-Document Uploaded. - Buyer-01/15/2025

Open-Missing Updated Completion Report in file . - Due Diligence Vendor-01/03/2025

Resolved-Required Document Provided, changes made in system, Finding Resolved - Due Diligence Vendor-01/16/2025

XXXX

Investment

Refinance

Cash Out - Other

3128381

N/A

XXXX

1939520

Closed

2024-12-30 10:24

2025-01-10 15:05

Resolved

1 - Information

Compliance

Missing Doc

Final HUD-1 or Final Settlement Statement Document is Missing

Resolved-Received HUD showing appraisal fee, finding resolved - Due Diligence Vendor-01/10/2025

Ready for Review-Document Uploaded. - Buyer-01/08/2025

Open-Final HUD-1 Document is Missing. HUD is missing appraisal fee. - Due Diligence Vendor-12/30/2024

Resolved-Received HUD showing appraisal fee, finding resolved - Due Diligence Vendor-01/10/2025

XXXX

Investment

Refinance

Cash Out - Other

3099381

N/A

XXXX

1939845

Closed

2024-12-30 13:20

2025-01-09 16:52

Acknowledged

2 - Non-Material

Compliance

Missing Doc

Missing Anti-Steering Disclosure

Acknowledged-Client acknowledged missing anti-steering - Due Diligence Vendor-01/09/2025
Ready for Review-XXXX acknowledges missing disclosure - Buyer-01/07/2025
Open-Anti steering disclosure missing in file. - Due Diligence Vendor-12/30/2024

Acknowledged-Client acknowledged missing anti-steering - Due Diligence Vendor-01/09/2025

Investment

Refinance

Cash Out - Other

3100035

Investor Post-Close