EX-99.03 4 ex99-03.htm CLARIFII RATING AGENCY GRADES DETAILS REPORT

Exhibit 99.03

Loan ID

Seller Loan ID

Redaction 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

XXXXX

1806281

Closed

FCOM5814

2024-05-16 12:44

2024-05-23 09:52

Resolved

1 - Information

Compliance

TRID

TRID: Closing Disclosure Deficiency

Resolved-Received the LOE to borrower. - Due Diligence Vendor-05/23/2024
Ready for Review-Document Uploaded. LOE to borrower - Seller-05/22/2024
Counter-Received PCCD XXXXX with correction, however, the LOE to borrower was not provided. Please provide the LOE. - Due Diligence Vendor-05/22/2024
Ready for Review-Document Uploaded. PCCD - Seller-05/21/2024
Open-Final CD Loan Terms Monthly Principal and Interest Payment amount $2,404.45 does not match the Principal and Interest Payment amount $2,380.81 in the Projected Payments section of same CD. - Due Diligence Vendor-05/16/2024

Ready for Review-Document Uploaded. LOE to borrower - Seller-05/22/2024

Ready for Review-Document Uploaded. PCCD - Seller-05/21/2024

Resolved-Received the LOE to borrower. - Due Diligence Vendor-05/23/2024

On time mortgage history exceeds guideline requirement - On-Time Mtg History = 40 Months – Min On-Time Mtg History = 24 Months

CLTV is less than guidelines maximum - 72.27% < 75%

XXXXX

Non-QM: Lender documented all ATR UW factors

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1693290

XXXXX

1806281

Closed

FCRE1510

2024-05-16 11:59

2024-05-22 13:59

Resolved

1 - Information

Credit

Closing

Issues exist on the Mortgage Document (Deed of Trust)

Resolved-Mortgage with legal provided. - Due Diligence Vendor-02/03/2025

Ready for Review-Document Uploaded. mortgage with legal - Seller-05/21/2024

Open-There are Issues Present on the Mortgage Document (Deed of Trust) that must be addressed. Missing Legal Description. - Due Diligence Vendor-05/16/2024

Ready for Review-Document Uploaded. mortgage with legal - Seller-05/21/2024

Resolved-Mortgage with legal provided. - Due Diligence Vendor-02/03/2025

On time mortgage history exceeds guideline requirement - On-Time Mtg History = 40 Months – Min On-Time Mtg History = 24 Months

CLTV is less than guidelines maximum - 72.27% < 75%

XXXXX

Non-QM: Lender documented all ATR UW factors

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1692988

XXXXX

1808529

Closed

FCOM2328

2024-05-24 13:13

2024-06-03 10:06

Resolved

1 - Information

Compliance

TRID

TRID: Closing Disclosure Escrow Account

Resolved-Received PCCD 5/31/24 and LOE to borrower. - Due Diligence Vendor-06/03/2024

Ready for Review-Document Uploaded. PCCD and LOE regarding correction - Seller-05/31/2024

Open-Final CD, page 4 is missing reason for no escrow account established, either declined or lender does not offer one box is not checked. Provide a PCCD with correction and LOE within 60 days of consummation. - Due Diligence Vendor-05/24/2024

Ready for Review-Document Uploaded. PCCD and LOE regarding correction - Seller-05/31/2024

Resolved-Received PCCD XXXXX and LOE to borrower. - Due Diligence Vendor-06/03/2024

Qualifying FICO score is at least 20 points above minimum for program - Score is 796 vs min required of 680

CLTV is less than guidelines maximum - CLTV of 46.25% vs max allowed to 75%

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1735476

XXXXX

1808530

Closed

FPRO1253

2024-06-03 09:27

2024-06-04 14:57

Resolved

1 - Information

Property

Missing Doc

Secondary Valuation or Additional Valuation has not been entered per securitization requirements

Resolved--AVM supporting value provided. - Due Diligence Vendor-06/04/2024
Ready for Review-Document Uploaded. secondary evaluation  - Seller-06/04/2024
Counter-Secondary valuation is required for securitization purposes. Finding remains. - Due Diligence Vendor-06/04/2024
Ready for Review-Document Uploaded. please see our guidelines i have enclosed... loans under XXXXX  would only require an exterior appraisal... and since we cannot run a UCDP on an exterior appraisal, no CDA would also be needed  - Seller-06/04/2024
Open-Exterior appraisal in file meet guideline requirement. However, require secondary evaluation for securitization purpose.  - Due Diligence Vendor-06/03/2024

Ready for Review-Document Uploaded. secondary evaluation - Seller-06/04/2024
Ready for Review-Document Uploaded. please see our guidelines i have enclosed... loans under XXXXX would only require an exterior appraisal... and since we cannot run a UCDP on an exterior appraisal, no CDA would also be needed - Seller-06/04/2024

Resolved--AVM supporting value provided. - Due Diligence Vendor-06/04/2024

CLTV is less than guidelines maximum - CLTV 57.07% is less than guidelines maximum 75%

Qualifying DTI below maximum allowed - Qualifying DTI 37% below maximum allowed 45%

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1774877

XXXXX

1808530

Closed

FCRE1148

2024-06-03 08:37

2024-06-04 14:08

Resolved

1 - Information

Credit

Title

Title Coverage is Less than Subject Lien(s) Total

Resolved-Received Escrow instructions  reflect loan amount; finding resolved. - Due Diligence Vendor-02/03/2025

Counter-Title guideline requirements have been met.  Please provide documentation to support the amount of coverage is = to the loan amount. - Due Diligence Vendor-06/04/2024

Ready for Review-Document Uploaded. please see enclosed from our guidelines  - Seller-06/03/2024

Open-Insufficient Title Coverage.  Amount of coverage is less than the Loan Amount. Provide title commitment with sufficient coverage and with property rights.  - Due Diligence Vendor-06/03/2024

Ready for Review-Document Uploaded. please see enclosed from our guidelines - Seller-06/03/2024

Resolved-Received Escrow instructions reflect loan amount; finding resolved. - Due Diligence Vendor-02/03/2025

CLTV is less than guidelines maximum - CLTV 57.07% is less than guidelines maximum 75%

Qualifying DTI below maximum allowed - Qualifying DTI 37% below maximum allowed 45%

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1774527

XXXXX

1808530

Closed

FCRE1152

2024-06-03 08:37

2024-06-04 12:02

Resolved

1 - Information

Credit

Missing Doc

Evidence of Property Tax Missing

Resolved-Evidence of Property Tax provided. - Due Diligence Vendor-06/04/2024

Ready for Review-Document Uploaded. tax search - Seller-06/03/2024

Open-Missing Evidence of Property Tax Provide tax cert to confirm current taxes and status. Lender tax cert in file is blank. - Due Diligence Vendor-06/03/2024

Ready for Review-Document Uploaded. tax search - Seller-06/03/2024

Resolved-Evidence of Property Tax provided. - Due Diligence Vendor-06/04/2024

CLTV is less than guidelines maximum - CLTV 57.07% is less than guidelines maximum 75%

Qualifying DTI below maximum allowed - Qualifying DTI 37% below maximum allowed 45%

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1774525

XXXXX

1808530

Closed

FCRE7124

2024-06-03 09:04

2024-06-04 11:57

Resolved

1 - Information

Credit

Income/Employment

Borrower 1 IRS Transcripts Do Not Match Income Docs

Resolved-Upon further review, tax transcripts support income. No additional documentation required. - Due Diligence Vendor-02/03/2025
Ready for Review-Document Uploaded. borrower had 2 w2s for 2022 ... please see both enclosed... the transcripts reflect both of the w2s... each in its own line (second w2 is shown below the first) ... 2021 transcripts also match up to the 2021 w2 i have enclosed - Seller-06/04/2024
Open-Borrower 1 IRS Transcripts Do Not Match Income Docs Transcript 2022 reflects W2 XXXXX does not match W2 in file for previous employer. Also, 2021 verified through transcript does not match VOE in file. Provide an explanation and document reason for income variance. - Due Diligence Vendor-06/03/2024

Ready for Review-Document Uploaded. borrower had 2 w2s for 2022 ... please see both enclosed... the transcripts reflect both of the w2s... each in its own line (second w2 is shown below the first) ... 2021 transcripts also match up to the 2021 w2 i have enclosed - Seller-06/04/2024

Resolved-Upon further review, tax transcripts support income. No additional documentation required. - Due Diligence Vendor-02/03/2025

CLTV is less than guidelines maximum - CLTV 57.07% is less than guidelines maximum 75%

Qualifying DTI below maximum allowed - Qualifying DTI 37% below maximum allowed 45%

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1774693

XXXXX

1821737

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

XXXXX

1827647

Closed

FCRE1503

2024-07-01 11:48

2024-07-16 12:26

Resolved

1 - Information

Credit

QM-ATR

ATR: The Lender did not document all ATR Factors

Resolved-Upon further review no additional documentation required. Received documentation supporting <25% ownership. - Due Diligence Vendor-02/03/2025
Ready for Review-XXXXX if less than 25% ownership. - Seller-07/05/2024
Open-ATR: The Lender did not document all ATR Factors Missing lender justification for not counting the K-1 net real estate losses for XXXXX . Including this loss in the income calculations would result in an excessive DTI. - Due Diligence Vendor-07/01/2024

Ready for Review-Gashes Grace Holdings if less than 25% ownership. - Seller-07/05/2024

Resolved-Upon further review no additional documentation required. Received documentation supporting <25% ownership. - Due Diligence Vendor-02/03/2025

Qualifying FICO score is at least 20 points above minimum for program - 770 > 700

CLTV is less than guidelines maximum - 63.75% < 75%

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1913807

XXXXX

1827647

Closed

FCRE1506

2024-07-01 11:48

2024-07-16 12:26

Resolved

1 - Information

Credit

QM-ATR

Invalid Final QM Status - ATR/QM: Status Pending

Resolved-Upon further review no additional documentation required. Received documentation supporting <25% ownership. - Due Diligence Vendor-02/03/2025
Ready for Review-XXXXX if less than 25% ownership. - Seller-07/05/2024
Open-The Final Reviewed QM Status is 'ATR/QM: Status Pending' on a non-Business Purpose loan. Missing lender justification for not counting the K-1 net real estate losses for XXXXX . Including this loss in the income calculations would result in an excessive DTI. - Due Diligence Vendor-07/01/2024

Ready for Review-XXXXX if less than 25% ownership. - Seller-07/05/2024

Resolved-Upon further review no additional documentation required. Received documentation supporting <25% ownership. - Due Diligence Vendor-02/03/2025

Qualifying FICO score is at least 20 points above minimum for program - 770 > 700

CLTV is less than guidelines maximum - 63.75% < 75%

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1913808

XXXXX

1827647

Closed

FCRE6763

2024-07-01 11:48

2024-07-08 15:37

Resolved

1 - Information

Credit

Income/Employment

Income documentation does not meet guidelines

Resolved-Received documentation Borrower is < 25% owner. FNMA does not require for it to be calculated in the DTI. Upon further review no additional documentation required. - Due Diligence Vendor-02/03/2025
Ready for Review-XXXXX if less than 25% ownership. - Seller-07/05/2024
Open-Missing lender supporting documentation for not counting the K-1 net real estate losses for XXXXX (Proof business is dissolved etc). Including this loss in the income calculations would result in an excessive DTI. - Due Diligence Vendor-07/01/2024

Ready for Review-XXXXX if less than 25% ownership. - Seller-07/05/2024

Qualifying FICO score is at least 20 points above minimum for program - 770 > 700

CLTV is less than guidelines maximum - 63.75% < 75%

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1913798

XXXXX

1827647

Closed

FCRE1964

2024-07-01 11:47

2024-07-08 15:35

Resolved

1 - Information

Credit

Missing Doc

Missing income documentation

Resolved-Received documentation supporting Borrower is < 25% owner. XXXXX does not require for it to be calculated in the DTI. Upon further review no additional documentation required. - Due Diligence Vendor-02/03/2025
Ready for Review-Document Uploaded. - Seller-07/05/2024
Open-Missing 2022 K-1 for BSD industries. Audit used amount from Schedule E part II to calculate income - Due Diligence Vendor-07/01/2024

Ready for Review-Document Uploaded. - Seller-07/05/2024

Qualifying FICO score is at least 20 points above minimum for program - 770 > 700

CLTV is less than guidelines maximum - 63.75% < 75%

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1913623

XXXXX

1827647

Closed

FCRE5782

2024-07-01 11:28

2024-07-08 14:46

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Gap Credit Report is Missing

Resolved-Received Borrower 1 Gap Credit Report. - Due Diligence Vendor-02/03/2025

Ready for Review-Document Uploaded.  - Seller-07/05/2024

Counter-Credit Report provided.  Please provide the Gap credit report dated within 10 days of the Note. - Due Diligence Vendor-07/02/2024

Ready for Review-Document Uploaded.  - Seller-07/01/2024

Open-Borrower 1 Gap Credit Report is Missing Missing, to be dated within 10 days of note. - Due Diligence Vendor-07/01/2024

Ready for Review-Document Uploaded. - Seller-07/05/2024

Ready for Review-Document Uploaded. - Seller-07/01/2024

Resolved-Received Borrower 1 Gap Credit Report. - Due Diligence Vendor-02/03/2025

Qualifying FICO score is at least 20 points above minimum for program - 770 > 700

CLTV is less than guidelines maximum - 63.75% < 75%

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1913488

XXXXX

1827647

Closed

FCOM2328

2024-06-28 14:15

2024-07-03 14:04

Resolved

1 - Information

Compliance

TRID

TRID: Closing Disclosure Escrow Account

Resolved-Received PCCD XXXXX  with correction to the Escrow Account. - Due Diligence Vendor-07/03/2024
Ready for Review-Document Uploaded.  - Seller-07/02/2024
Open-Final CD, page 4 is missing reason for no escrow account established, either declined or lender does not offer one box is not checked. Provide a PCCD with correction within 60 days of consummation.  - Due Diligence Vendor-06/28/2024

Ready for Review-Document Uploaded. - Seller-07/02/2024

Resolved-Received PCCD XXXXX with correction to the Escrow Account. - Due Diligence Vendor-07/03/2024

Qualifying FICO score is at least 20 points above minimum for program - 770 > 700

CLTV is less than guidelines maximum - 63.75% < 75%

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1906370

XXXXX

1827646

Closed

FCRE1182

2024-07-09 18:31

2024-07-11 17:04

Resolved

1 - Information

Credit

Missing Doc

Approval/Underwriting Summary Not Provided

Resolved-Received approval/Underwriting Summary. - Due Diligence Vendor-02/03/2025

Ready for Review-Document Uploaded. 1008 - Seller-07/10/2024

Open-Missing Approval/Underwriting Summary - Due Diligence Vendor-07/09/2024

Ready for Review-Document Uploaded. 1008 - Seller-07/10/2024

Resolved-Received approval/Underwriting Summary. - Due Diligence Vendor-02/03/2025

Qualifying DTI below maximum allowed - DTI = 36.43% - Max DTI = 50%

Months Reserves exceed minimum required - Reserves = 18 months – Required Reserves = 0 Months

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1957441

XXXXX

1827646

Closed

FCOM1290

2024-07-07 14:45

2024-07-11 12:51

Resolved

1 - Information

Compliance

Missing Doc

Undiscounted Rate is Missing

Resolved-Undiscounted rate provided. - Due Diligence Vendor-07/11/2024

Counter-The undiscounted or starting adjusted rate is missing from file. - Due Diligence Vendor-07/11/2024

Ready for Review-Document Uploaded. enclosed please find the note showing the rate... please clarify what is missing - Seller-07/10/2024

Open-Undiscounted Rate is Missing -----Missing Undiscounted Rate - Due Diligence Vendor-07/07/2024

Ready for Review-Document Uploaded. enclosed please find the note showing the rate... please clarify what is missing - Seller-07/10/2024

Resolved-Undiscounted rate provided. - Due Diligence Vendor-07/11/2024

Qualifying DTI below maximum allowed - DTI = 36.43% - Max DTI = 50%

Months Reserves exceed minimum required - Reserves = 18 months – Required Reserves = 0 Months

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1942903

XXXXX

1827645

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

XXXXX

1829538

Closed

FCRE1197

2024-07-16 15:45

2025-02-03 09:36

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Originator exception granted, waiver applied with comp factors. - Due Diligence Vendor-02/03/2025

Ready for Review-Document Uploaded. Exception for fico - Seller-07/16/2024

Open-Audited FICO of 676 is less than Guideline FICO of 720 -Audited FICO of 676 is less than Guideline FICO of 720 - Due Diligence Vendor-07/16/2024

Ready for Review-Document Uploaded. Exception for fico - Seller-07/16/2024

Waived-Originator exception granted, waiver applied with comp factors. - Due Diligence Vendor-02/03/2025

CLTV is less than guidelines maximum - Qualifying CLTV 47.55%; Guideline CLTV 70%

Months Reserves exceed minimum required - Qualifying Total Reserves Number of Months 53.53; Months Required 0

LTV at 47.55%, maximum 70% allowed.
53 months reserves

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

Originator Post-Close

N/A

1999386

XXXXX

1829538

Closed

FCRE5790

2024-07-16 15:04

2024-07-19 15:04

Resolved

1 - Information

Credit

Closing

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

Resolved-Upon further review FMH 2nd lien guidelines are silent regarding the gap report. No additional documentation required. - Due Diligence Vendor-02/03/2025

Ready for Review-this loan was actually not a NQM loan... its a second lien loan and those guidelines default to agency which allows a GAP credit report to be within 30 days of closing - Seller-07/18/2024

Ready for Review-guideline should be within 10 BUSINESS days... the GAP report was within the 10 business days - Finding remains. - Due Diligence Vendor-07/18/2024

Counter-Guidelines do not specify business days. Guidelines state no more than 10 days prior to the loan closing or any time after closing. - Due Diligence Vendor-07/18/2024

Open-Borrower 1 Gap Credit Report is Expired (Greater than 10 days from Closing/Settlement Date). Borrower 1 & Borrower 2 Gap Credit Report is Expired (Greater than 10 days from Closing/Settlement Date). - Due Diligence Vendor-07/16/2024

Ready for Review-this loan was actually not a NQM loan... its a second lien loan and those guidelines default to agency which allows a GAP credit report to be within 30 days of closing - Seller-07/18/2024

Resolved-Upon further review FMH 2nd lien guidelines are silent regarding the gap report. No additional documentation required. - Due Diligence Vendor-02/03/2025

CLTV is less than guidelines maximum - Qualifying CLTV 47.55%; Guideline CLTV 70%

Months Reserves exceed minimum required - Qualifying Total Reserves Number of Months 53.53; Months Required 0

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

1998867

XXXXX

1841229

Closed

FCRE5782

2024-08-05 11:30

2024-08-07 17:34

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Gap Credit Report is Missing

Resolved-Gap report provided. - Due Diligence Vendor-02/03/2025

Ready for Review-Document Uploaded. gap report - Seller-08/05/2024

Open-Borrower 1 Gap Credit Report is Missing - Due Diligence Vendor-08/05/2024

Ready for Review-Document Uploaded. gap report - Seller-08/05/2024

Resolved-Gap report provided. - Due Diligence Vendor-02/03/2025

Qualifying FICO score is at least 20 points above minimum for program - Score is 765 vs program min of 680

Qualifying DTI below maximum allowed - DTI is 30.77 vs program max of 45%

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2122431

XXXXX

1841229

Closed

FCOM2328

2024-08-02 14:59

2024-08-07 09:26

Resolved

1 - Information

Compliance

TRID

TRID: Closing Disclosure Escrow Account

Resolved-Received PCCD 8/5/2024 with correction. - Due Diligence Vendor-08/07/2024

Ready for Review-Document Uploaded. pccd - Seller-08/05/2024

Open-Final CD 7/25/2024, Escrow account statement- the "will have an escrow account" box is checked however, this lien does not have the escrow account. Provide a PCCD with correction. - Due Diligence Vendor-08/02/2024

Ready for Review-Document Uploaded. pccd - Seller-08/05/2024

Resolved-Received PCCD XXXXX with correction. - Due Diligence Vendor-08/07/2024

Qualifying FICO score is at least 20 points above minimum for program - Score is 765 vs program min of 680

Qualifying DTI below maximum allowed - DTI is 30.77 vs program max of 45%

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2112986

XXXXX

1841230

Closed

FCRE1145

2024-08-05 12:39

2024-08-09 17:30

Resolved

1 - Information

Credit

Missing Doc

Title Document Missing

Resolved-Received title document. - Due Diligence Vendor-02/03/2025

Ready for Review-for second lien loans, coverage amount is N/A.... all we need per guidelines are the searches we previously provided - Seller-08/08/2024

Counter-Title documentation provided, however it does not reflect a coverage amount for the subject lien. - Due Diligence Vendor-08/07/2024

Ready for Review-Document Uploaded. lien and judgement searches - Seller-08/05/2024

Open-Title Document is missing Any liens/judgments to be addressed. - Due Diligence Vendor-08/05/2024

Ready for Review-for second lien loans, coverage amount is N/A.... all we need per guidelines are the searches we previously provided - Seller-08/08/2024

Ready for Review-Document Uploaded. lien and judgement searches - Seller-08/05/2024

Resolved-Received title document. - Due Diligence Vendor-02/03/2025

On time mortgage history exceeds guideline requirement - Mortgage reporting for 27 mo's. 0x30

Months Reserves exceed minimum required - Reserves are 12.96 vs program min of 0

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2123212

XXXXX

1841230

Closed

FCRE1151

2024-08-05 16:14

2024-08-09 17:30

Resolved

1 - Information

Credit

Title

Satisfactory Chain of Title not Provided

Resolved-Satisfactory Chain of Title has been provided - Due Diligence Vendor-08/07/2024

Ready for Review-Document Uploaded. chain of title showing - Seller-08/05/2024

Open-Unsatisfactory Chain of Title provided. Missing 24 month chain - Due Diligence Vendor-08/05/2024

Ready for Review-Document Uploaded. chain of title showing - Seller-08/05/2024

Resolved-Satisfactory Chain of Title has been provided - Due Diligence Vendor-08/07/2024

On time mortgage history exceeds guideline requirement - Mortgage reporting for 27 mo's. 0x30

Months Reserves exceed minimum required - Reserves are 12.96 vs program min of 0

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2125961

XXXXX

1841230

Closed

finding-3652

2024-08-07 09:15

2024-08-08 08:08

Resolved

1 - Information

Compliance

TRID

Lender Credits That Cannot Decrease Test

Resolved-Received PCCD 8/7/24 with correction. - Due Diligence Vendor-08/08/2024

Ready for Review-Document Uploaded. pccd - Seller-08/07/2024

Open-*NEW* This loan failed the lender credits that cannot decrease 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). The final sum of specific and non-specific lender credits ($1,642.50) does not exceed or equal the comparable sum of specific and non-specific lender credits ($2,292.50). Please see the 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).------Lender credit decreased from $1245 to $595 without a valid COC in file. Provide a COC for decrease OR evidence of refund to borrower or principal reduction in the amount of $650.00, post-close CD, LOE and evidence of delivery to borrower within 60 days of consummation date. Reduction in Lender credits must be directly related to fees and must offset closing cost equally. - Due Diligence Vendor-08/07/2024

Ready for Review-Document Uploaded. pccd - Seller-08/07/2024

Resolved-Received PCCD XXXXX with correction. - Due Diligence Vendor-08/08/2024

On time mortgage history exceeds guideline requirement - Mortgage reporting for 27 mo's. 0x30

Months Reserves exceed minimum required - Reserves are 12.96 vs program min of 0

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2138530

XXXXX

1841230

Closed

FCRE1510

2024-08-02 16:08

2024-08-07 17:32

Resolved

1 - Information

Credit

Closing

Issues exist on the Mortgage Document (Deed of Trust)

Resolved-There are no issues present on the Mortgage Document (Deed of Trust). - Mortgage w/legal provided. - Due Diligence Vendor-08/07/2024

Ready for Review-Document Uploaded. mortgage with legal description - Seller-08/05/2024

Open-There are Issues Present on the Mortgage Document (Deed of Trust) that must be addressed. Legal description is missing. - Due Diligence Vendor-08/02/2024

Ready for Review-Document Uploaded. mortgage with legal description - Seller-08/05/2024

Resolved-There are no issues present on the Mortgage Document (Deed of Trust). - Mortgage w/legal provided. - Due Diligence Vendor-08/07/2024

On time mortgage history exceeds guideline requirement - Mortgage reporting for 27 mo's. 0x30

Months Reserves exceed minimum required - Reserves are 12.96 vs program min of 0

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2113662

XXXXX

1841230

Closed

FCOM2328

2024-08-02 16:24

2024-08-07 09:16

Resolved

1 - Information

Compliance

TRID

TRID: Closing Disclosure Escrow Account

Resolved-Received PCCD XXXXX with correction. - Due Diligence Vendor-08/07/2024
Ready for Review-Document Uploaded. pccd - Seller-08/05/2024
Open-Final CD, page 4 escrow account statement has "will have and escrow account" however, this lien does not have an escrow account. Provide a PCCD with correction within 60 days of consummation. - Due Diligence Vendor-08/02/2024

Ready for Review-Document Uploaded. pccd - Seller-08/05/2024

Resolved-Received PCCD XXXXX with correction. - Due Diligence Vendor-08/07/2024

On time mortgage history exceeds guideline requirement - Mortgage reporting for 27 mo's. 0x30

Months Reserves exceed minimum required - Reserves are 12.96 vs program min of 0

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2113803

XXXXX

1850064

Closed

FCRE1254

2024-08-13 15:57

2024-08-19 16:58

Resolved

1 - Information

Credit

Title

Property Title Issue

Resolved-Property Title Issue Resolved - Documentation provided. - Due Diligence Vendor-08/19/2024

Ready for Review-Document Uploaded. payoffs and copy of checks paid by title are enclosed... at closing, we took more than the payoff amounts so title can hold extra until we know they were paid off and cleared - Seller-08/16/2024

Counter-Please provide the payoff statements for the 2 judgements paid at closing. - Due Diligence Vendor-08/15/2024

Ready for Review-Document Uploaded. correct final CD enclosed showing judgements were paid off - Seller-08/14/2024

Open-Property Title Issue Missing evidence that the two judgments reported in the searches were cleared. Guidelines require payment if not cleared. Unable if these are the two items paid on title because the amounts do not match and no payoff in file for the two items. - Due Diligence Vendor-08/13/2024

Ready for Review-Document Uploaded. payoffs and copy of checks paid by title are enclosed... at closing, we took more than the payoff amounts so title can hold extra until we know they were paid off and cleared - Seller-08/16/2024

Ready for Review-Document Uploaded. correct final CD enclosed showing judgements were paid off - Seller-08/14/2024

Resolved-Property Title Issue Resolved - Documentation provided. - Due Diligence Vendor-08/19/2024

CLTV is less than guidelines maximum - 57.03% CLTV is less than 80% maximum.

Qualifying DTI below maximum allowed - 39.85% DTI is less than 45% maximum.

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2180622

XXXXX

1850064

Closed

FCRE5782

2024-08-13 15:02

2024-08-15 18:15

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Gap Credit Report is Missing

Resolved-Borrower 1 Gap Credit Report provided - Due Diligence Vendor-08/15/2024

Ready for Review-Document Uploaded. GAP report - Seller-08/14/2024

Open-Borrower 1 Gap Credit Report is Missing. - Due Diligence Vendor-08/13/2024

Ready for Review-Document Uploaded. GAP report - Seller-08/14/2024

Resolved-Borrower 1 Gap Credit Report provided - Due Diligence Vendor-08/15/2024

CLTV is less than guidelines maximum - 57.03% CLTV is less than 80% maximum.

Qualifying DTI below maximum allowed - 39.85% DTI is less than 45% maximum.

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2180070

XXXXX

1850064

Closed

FCRE1202

2024-08-13 15:54

2024-08-15 18:14

Resolved

1 - Information

Credit

Missing Doc

Third Party Fraud Report Partially Provided

Resolved-Received judgement and documentation addressing High alerts. - Due Diligence Vendor-02/03/2025
Ready for Review-Document Uploaded. explanation and proof of payment enclosed - Seller-08/14/2024
Open-Third Party Fraud Report Partially Provided Missing documentation used to clear high alerts for two judgments noted on fraud report beginning page 513. One is a civil filing dated XXXXX with no release date noted, and the other is a civil suit filed XXXXX . LOX from borrower in file that civil judgment was paid but no record retained, and civil suit is a claim of negligence that happened in 20021 long after he left the related facility. Guidelines require payment if not cleared. - Due Diligence Vendor-08/13/2024

Ready for Review-Document Uploaded. explanation and proof of payment enclosed - Seller-08/14/2024

Resolved-Received judgement and documentation addressing High alerts. - Due Diligence Vendor-02/03/2025

CLTV is less than guidelines maximum - 57.03% CLTV is less than 80% maximum.

Qualifying DTI below maximum allowed - 39.85% DTI is less than 45% maximum.

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2180605

XXXXX

1866062

Closed

FCRE1145

2024-08-26 13:37

2024-08-29 16:34

Resolved

1 - Information

Credit

Missing Doc

Title Document Missing

Resolved-Title search provided. - Due Diligence Vendor-02/03/2025

Ready for Review-Document Uploaded. enclosed are the only searches that are necessary for second lien loans - Seller-08/28/2024

Open-Title Document is missing Missing Title. - Due Diligence Vendor-08/28/2024

Ready for Review-Document Uploaded. enclosed are the only searches that are necessary for second lien loans - Seller-08/28/2024

Resolved-Title search provided. - Due Diligence Vendor-02/03/2025

On time mortgage history exceeds guideline requirement - 0x30x40 exceeds 12 months history required.

Qualifying FICO score is at least 20 points above minimum for program - 703 score exceeds minimum of 680.

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2254817

XXXXX

1866063

Closed

FCRE1197

2024-09-04 17:33

2025-02-03 10:06

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Originator exception granted, waiver applied with comp factors. Deemed non-material. - Due Diligence Vendor-02/03/2025
Open-Audited FICO of 713 is less than Guideline FICO of 720 -Exception Approved p.16. The credit score below of 713 is outside the parameters (720 required for XXXXX ) - Due Diligence Vendor-09/04/2024

Waived-Originator exception granted, waiver applied with comp factors. Deemed non-material. - Due Diligence Vendor-02/03/2025

Months Reserves exceed minimum required - Qualifying Total Reserves Number of Months 15.45; Months Required 0

CLTV is less than guidelines maximum - Qualifying CLTV 26.81%; Guideline CLTV 70%

-Low 24%CLTV
- 15 months reserves.

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

Originator Post-Close

Yes

2309511

XXXXX

1866063

Closed

FCOM2328

2024-09-01 15:26

2024-09-09 06:46

Resolved

1 - Information

Compliance

TRID

TRID: Closing Disclosure Escrow Account

Resolved-Received PCCD issued 09/06/2024. - Due Diligence Vendor-09/09/2024

Ready for Review-Document Uploaded. pccd - Seller-09/06/2024

Open-Final CD Escrow Account statement on page 4 has "will have an escrow account" selected, however, this transaction does not have an escrow account. Provide PCCD with correction. - Due Diligence Vendor-09/01/2024

Ready for Review-Document Uploaded. pccd - Seller-09/06/2024

Resolved-Received PCCD issued 09/06/2024. - Due Diligence Vendor-09/09/2024

Months Reserves exceed minimum required - Qualifying Total Reserves Number of Months 15.45; Months Required 0

CLTV is less than guidelines maximum - Qualifying CLTV 26.81%; Guideline CLTV 70%

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2293112

XXXXX

1866063

Closed

FCRE5782

2024-09-04 17:55

2024-09-06 15:14

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Gap Credit Report is Missing

Resolved-Borrower 1 Gap Credit Report provided. - Due Diligence Vendor-09/06/2024

Ready for Review-Document Uploaded. GAP credit - Seller-09/05/2024

Open-Borrower 1 Gap Credit Report is Missing -Gap Credit Report is Missing - Due Diligence Vendor-09/04/2024

Ready for Review-Document Uploaded. GAP credit - Seller-09/05/2024

Resolved-Borrower 1 Gap Credit Report provided. - Due Diligence Vendor-09/06/2024

Months Reserves exceed minimum required - Qualifying Total Reserves Number of Months 15.45; Months Required 0

CLTV is less than guidelines maximum - Qualifying CLTV 26.81%; Guideline CLTV 70%

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2309635

XXXXX

1866061

Closed

FCRE8201

2024-09-11 15:21

2024-09-20 10:09

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived-Originator exception granted, waiver applied with comp factors - Due Diligence Vendor-02/03/2025

Ready for Review-Document Uploaded. - Seller-09/11/2024

Open-Program does not allow for lending behind ARM 1st liens. - Due Diligence Vendor-09/11/2024

Ready for Review-Document Uploaded. - Seller-09/11/2024

Waived-Originator exception granted, waiver applied with comp factors - Due Diligence Vendor-02/03/2025

Qualifying DTI below maximum allowed - Qualifying Total Debt Income Ratio <40%; Guideline DTI 45%

Months Reserves exceed minimum required - Qualifying Total Reserves Number of Months 6.6; Months Required 0

67.77% LTV < 75% maximum allowed
$27,867.72 residual income

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

Originator Post-Close

2355425

XXXXX

1866061

Closed

FVAL8946

2024-09-11 15:12

2024-09-20 09:43

Waived

2 - Non-Material

Credit

Missing Doc - Credit

Missing Appraisal

Waived-Originator exception granted, waiver applied with comp factors - Due Diligence Vendor-02/03/2025
Ready for Review-Document Uploaded. correct CDA - Seller-09/18/2024
Counter-Desk review provided, however it has the incorrect appraised value of XXXXX and the appraised value is XXXXX Finding remains. - Due Diligence Vendor-09/13/2024
Ready for Review-Document Uploaded. CDA - Seller-09/12/2024
Open-Missing second full appraisal due to loan amount and LTV. Lender exception in file allowing for no second appraisal if a desk review is provided. The file does not contain a desk review. - Due Diligence Vendor-09/11/2024

Ready for Review-Document Uploaded. correct CDA - Seller-09/18/2024

Ready for Review-Document Uploaded. CDA - Seller-09/12/2024

Waived-Originator exception granted, waiver applied with comp factors - Due Diligence Vendor-02/03/2025

67.77% < 75% maximum allowed
$27,867.72 Residual income.

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

Originator Post-Close

N/A

2355285

XXXXX

1866061

Closed

FCRE5782

2024-09-10 13:02

2024-09-17 15:59

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Gap Credit Report is Missing

Resolved-Borrower 1 Gap Credit Report provided. - Due Diligence Vendor-09/17/2024

Ready for Review-second lien loans follow conventional guidelines where a GAP report is needed within 30 days of closing (only NQM loans are within 10 days) - Seller-09/16/2024

Ready for Review-Document Uploaded. - Seller-09/11/2024

Open-Borrower 1 Gap Credit Report is Missing -Gap Credit Report is Missing for Borrower 1 and Borrower 2 - Due Diligence Vendor-09/10/2024

Ready for Review-second lien loans follow conventional guidelines where a GAP report is needed within 30 days of closing (only NQM loans are within 10 days) - Seller-09/16/2024

Ready for Review-Document Uploaded. - Seller-09/11/2024

Resolved-Borrower 1 Gap Credit Report provided. - Due Diligence Vendor-09/17/2024

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2344367

XXXXX

1878695

Closed

FCRE1152

2024-09-26 09:27

2024-10-07 19:01

Resolved

1 - Information

Credit

Missing Doc

Evidence of Property Tax Missing

Resolved--Documentation provided is sufficient to calculate monthly re taxes - Due Diligence Vendor-10/07/2024

Counter-Please provide tax cert with taxes broken down that were used to qualify - Due Diligence Vendor-10/02/2024

Ready for Review-Document Uploaded. mortgage stmt shows escrows included - Seller-10/01/2024

Counter-Title documents provided, however it does not confirm taxes used for qualification. - Due Diligence Vendor-09/30/2024

Ready for Review-Document Uploaded. title - Seller-09/27/2024

Open-Missing Evidence of Property Tax File is missing Title and/or Tax Cert - Due Diligence Vendor-09/26/2024

Ready for Review-Document Uploaded. mortgage stmt shows escrows included - Seller-10/01/2024

Ready for Review-Document Uploaded. title - Seller-09/27/2024

Resolved--Documentation provided is sufficient to calculate monthly re taxes - Due Diligence Vendor-10/07/2024

On time mortgage history exceeds guideline requirement - On-Time Mtg History = 37 Months – Min On-Time Mtg History = 12 Months

Qualifying FICO score is at least 20 points above minimum for program - FICO = 773 Min FICO = 680

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2460980

XXXXX

1878695

Closed

FCRE1145

2024-09-26 09:27

2024-10-07 19:00

Resolved

1 - Information

Credit

Missing Doc

Title Document Missing

Resolved-Title Document provided. - Due Diligence Vendor-09/30/2024

Ready for Review-Document Uploaded. title - Seller-09/27/2024

Open-Title Document is missing File is missing Title - Due Diligence Vendor-09/26/2024

Ready for Review-Document Uploaded. title - Seller-09/27/2024

Resolved-Title Document provided. - Due Diligence Vendor-09/30/2024

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2460982

XXXXX

1878695

Closed

FCRE5782

2024-09-26 10:15

2024-09-30 16:52

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Gap Credit Report is Missing

Resolved-Received Borrower 1 Gap Credit Report. - Due Diligence Vendor-02/03/2025

Ready for Review-Document Uploaded. GAP report within 30 days - Seller-09/27/2024

Open-Borrower 1 Gap Credit Report is Missing B1 AND B2. File is missing Credit refresh report required - Due Diligence Vendor-09/26/2024

Ready for Review-Document Uploaded. GAP report within 30 days - Seller-09/27/2024

Resolved-Received Borrower 1 Gap Credit Report. - Due Diligence Vendor-02/03/2025

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2461545

XXXXX

1878695

Closed

FCOM1266

2024-09-20 11:41

2024-09-30 06:21

Resolved

1 - Information

Compliance

Missing Doc

Homeownership Counseling Disclosure Is Missing

Resolved-Received Homeownership Counseling Disclosure. - Due Diligence Vendor-02/03/2025
Ready for Review-Document Uploaded. counseling disclosure and list - Seller-09/27/2024
Open-Homeownership Counseling Disclosure Is Missing -----Missing Homeowner Counseling Disclosure provided within 3 days of 1003 dated XXXXX. - Due Diligence Vendor-09/20/2024

Ready for Review-Document Uploaded. counseling disclosure and list - Seller-09/27/2024

Resolved-Received Homeownership Counseling Disclosure. - Due Diligence Vendor-02/03/2025

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2418699

XXXXX

1878694

Closed

FCRE1199

2024-09-30 10:23

2024-10-02 18:07

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is greater than Guideline Maximum Loan Amount

Waived-Originator provided an exception, waiver applied with comp factors. - Due Diligence Vendor-02/03/2025
Ready for Review-Document Uploaded. exception - Seller-10/01/2024
Open-Audited Loan Amount is greater than the Guideline Maximum Loan Amount of XXXXX Loan amount of XXXXX is than the maximum allowable loan amount of XXXXX. - Due Diligence Vendor-09/30/2024

Ready for Review-Document Uploaded. exception - Seller-10/01/2024

Waived-Originator provided an exception, waiver applied with comp factors. - Due Diligence Vendor-02/03/2025

Verified employment history exceeds guidelines - Borrower has been employed in the same field for over 40 years.

Long term residence - Over 2 years in current residence.

-Residual Income =/> 1.5 times $3,500 monthly residual income
-Borrower has been employed in the same field for over 40 years.
-Over 2 years in current residence.

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

Originator Post-Close

Yes

2484317

XXXXX

1878694

Closed

FCRE1197

2024-09-30 10:23

2024-10-02 18:06

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 652 is less than Guideline FICO of 720 Originator provided an exception, waiver applied with comp factors. - Due Diligence Vendor-02/03/2025

Ready for Review-Document Uploaded. exception - Seller-10/01/2024

Open-Audited FICO of 652 is less than Guideline FICO of 720 ; Borrower has a qualifying score of 652; minimum required 720. - Due Diligence Vendor-09/30/2024

Ready for Review-Document Uploaded. exception - Seller-10/01/2024

Waived-Audited FICO of 652 is less than Guideline FICO of 720 Originator provided an exception, waiver applied with comp factors. - Due Diligence Vendor-02/03/2025

Verified employment history exceeds guidelines - Borrower has been employed in the same field for over 40 years.

Long term residence - Over 2 years in current residence.

-Borrower has been employed in the same field for over 40 years.
-Over 2 years in current residence.

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

Originator Post-Close

Yes

2484316

XXXXX

1878694

Closed

FCRE5782

2024-09-30 10:14

2024-10-02 17:54

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Gap Credit Report is Missing

Resolved-Borrower 1 Gap Credit Report provided. - Due Diligence Vendor-10/02/2024

Ready for Review-Document Uploaded. gap report - Seller-10/01/2024

Open-Borrower 1 Gap Credit Report is Missing Credit Refresh report required within 30 days of Note date; missing Credit Refresh report. - Due Diligence Vendor-09/30/2024

Ready for Review-Document Uploaded. gap report - Seller-10/01/2024

Resolved-Borrower 1 Gap Credit Report provided. - Due Diligence Vendor-10/02/2024

Verified employment history exceeds guidelines - Borrower has been employed in the same field for over 40 years.

Long term residence - Over 2 years in current residence.

XXXXX

QM: Safe Harbor Verified (V SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2484188

XXXXX

1913898

Closed

FCRE1193

2024-11-07 17:52

2025-02-03 09:47

Waived

2 - Non-Material

Credit

Eligibility

Audited DTI Exceeds Guideline DTI

Waived-Originator provided an exception, waiver applied with comp factors. - Due Diligence Vendor-02/03/2025
Ready for Review-Document Uploaded. DTI exception - Seller-11/19/2024
Counter-1008 provided. It appears the 1st lien payment was not included in the calculation. Reviewed Income $13,916.65, $5092.21 subjects PITIA and $1,576 in consumer debt. - Due Diligence Vendor-11/11/2024
Ready for Review-Document Uploaded. see enclosed 1008... DTI is 31% - Seller-11/08/2024
Open-Audited DTI of 47.92% exceeds Guideline DTI of 45% DTI exceeds because 1st mortgage payment was excluded by lender. - Due Diligence Vendor-11/08/2024

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

Ready for Review-Document Uploaded. see enclosed 1008... DTI is 31% - Seller-11/08/2024

Waived-Originator provided an exception, waiver applied with comp factors. - Due Diligence Vendor-02/03/2025

CLTV is less than guidelines maximum - CLTV = 63.81% - Max LTV = 80%

Qualifying FICO score is at least 20 points above minimum for program - FICO = 727 Min FICO = 680

63.81% LTV < 80% maximum allowed;
727 FICO > 680 minimum required.

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

Originator Post-Close

2767823

XXXXX

1913898

Closed

FCRE1506

2024-11-08 08:24

2024-11-20 14:05

Resolved

1 - Information

Credit

QM-ATR

Invalid Final QM Status - ATR/QM: Status Pending

Resolved-Upon further review of 1008 and income docs. No additional documentation required. - Due Diligence Vendor-02/03/2025
Ready for Review-Document Uploaded. DTI exception - Seller-11/19/2024
Counter-ATR worksheet provided. It appears the 1st lien payment was not included in the calculation. Reviewed Income $13,916.65, $5092.21 subjects PITIA and $1,576 in consumer debt. - Due Diligence Vendor-11/11/2024
Ready for Review-Document Uploaded. ATR worksheet - Seller-11/08/2024
Open-The Final Reviewed QM Status is 'ATR/QM: Status Pending' on a non-Business Purpose loan. DTI exceeds max. - Due Diligence Vendor-11/08/2024

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

Ready for Review-Document Uploaded. ATR worksheet - Seller-11/08/2024

Resolved-Upon further review of 1008 and income docs. No additional documentation required. - Due Diligence Vendor-02/03/2025

CLTV is less than guidelines maximum - CLTV = 63.81% - Max LTV = 80%

Qualifying FICO score is at least 20 points above minimum for program - FICO = 727 Min FICO = 680

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2770178

XXXXX

1913898

Closed

FPRO0011

2024-11-07 17:57

2024-11-11 15:04

Resolved

1 - Information

Property

FEMA disaster declared INDIVIDUAL

Resolved-PDI with an inspection date of XXXXX  provided.  No damage. - Due Diligence Vendor-11/11/2024
Ready for Review-Document Uploaded. disaster inspection  - Seller-11/08/2024
Open-Individual – XXXXX  – Incident Period:XXXXX  and continuing – file is missing a statement from Appraiser that states ‘no impact’ from the disaster - Due Diligence Vendor-11/07/2024

Ready for Review-Document Uploaded. disaster inspection - Seller-11/08/2024

Resolved-PDI with an inspection date of XXXXX provided. No damage. - Due Diligence Vendor-11/11/2024

CLTV is less than guidelines maximum - CLTV = 63.81% - Max LTV = 80%

Qualifying FICO score is at least 20 points above minimum for program - FICO = 727 Min FICO = 680

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2767855

XXXXX

1913899

Closed

FCRE1152

2024-11-13 14:51

2024-11-18 09:38

Resolved

1 - Information

Credit

Missing Doc

Evidence of Property Tax Missing

Resolved-Mortgage statement for 1st lien provided showing escrow payment for taxes and insurance. - Due Diligence Vendor-11/18/2024

Ready for Review-Document Uploaded. enclosed mortgage statement shows tax and insurance escrowed - Seller-11/14/2024

Open-Missing Evidence of Property Tax - Due Diligence Vendor-11/13/2024

Ready for Review-Document Uploaded. enclosed mortgage statement shows tax and insurance escrowed - Seller-11/14/2024

Resolved-Mortgage statement for 1st lien provided showing escrow payment for taxes and insurance. - Due Diligence Vendor-11/18/2024

Qualifying FICO score is at least 20 points above minimum for program - FICO = 753 Min FICO = 680

Qualifying DTI below maximum allowed - DTI = 30.54% - Max DTI = 45%

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2803956

XXXXX

1913899

Closed

FCRE1145

2024-11-13 14:51

2024-11-18 09:37

Resolved

1 - Information

Credit

Missing Doc

Title Document Missing

Resolved-Received title document. - Due Diligence Vendor-02/03/2025

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

Open-Title Document is missing - Due Diligence Vendor-11/13/2024

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

Resolved-Received title document. - Due Diligence Vendor-02/03/2025

Qualifying FICO score is at least 20 points above minimum for program - FICO = 753 Min FICO = 680

Qualifying DTI below maximum allowed - DTI = 30.54% - Max DTI = 45%

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

N/A

2803958

XXXXX

1936214

Closed

FCRE8201

2024-12-11 12:33

2025-02-03 10:09

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived-Originator provided an exception, waiver applied to non material finding with comp factors. - Due Diligence Vendor-02/03/2025

Ready for Review-Document Uploaded. Please see below… our exception for the first lien not having escrows (middle shows exception approved) - Seller-12/12/2024

Open-1st Mortgage does not Escrow for Taxes & Insurance - per guidelines Ineligible: 1st Mortgage Loans which do not escrow for Taxes & Insurance (may be considered on exception basis) - Due Diligence Vendor-12/11/2024

Ready for Review-Document Uploaded. Please see below… our exception for the first lien not having escrows (middle shows exception approved) - Seller-12/12/2024

Waived-Originator provided an exception, waiver applied to non material finding with comp factors. - Due Diligence Vendor-02/03/2025

On time mortgage history exceeds guideline requirement - On Time Mortgage History = 45 Months Required = 12 months

Qualifying FICO score is at least 20 points above minimum for program - FICO = 709 Min FICO = 680

54% LTV < 75% maximum allowed.
709 FICO > 680 minimum required.

XXXXX

QM: Safe Harbor APOR (APOR SH)

XXXXX

Primary Residence

Refinance

Cash Out - Other

Originator Post-Close

2983064