EX-99.4 5 ex99-4.htm MISSION RATING AGENCY GRADES DETAIL

Exhibit 99.4

Rating Agency Grades Detail Report
2023_ADMT_NQM4_Final
Run Date - 8/31/2023 14:30:00 PM

Loan ID

Seller Loan ID

Investor Loan ID

Overall Initial Loan Grade

Overall Final Loan Grade

Credit Initial Loan Grade

Credit Current/Final Loan Grade

Compliance Initial Loan Grade

Compliance Current/Final Loan Grade

Property Initial Loan Grade

Property Current/Final Loan Grade

Queue

Finding Code

Date Created

Date Modified

Finding Status

Event Level

Initial Finding Grade

Current/Final Finding Grade

Finding Category

Finding Sub Category

Finding Name

Finding Comments

Seller Comments

Resolution Comments

Reviewer Comp Factor

Originator Comp Factors

Finding Documents

Originator QM Status

Final Reviewed QM Status

Loan Amount

State

Occupancy

Loan Purpose

Refinance Purpose

Acknowledged / WaivedBy

Waiver in File?

Unique Finding ID

XXXXXXX-2023-NQM4-1

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-2

Closed

FCRE1258

2022-06-23 10:58

2023-08-22 15:54

Resolved

1 - Information

Credit

Missing Doc

Collateral Underwriter Missing

Resolved-Collateral Underwriter Provided or Not Applicable UCCP score received and supports value - Due Diligence Vendor-06/28/2022

Ready for Review-Document Uploaded. CU score - Seller-06/23/2022

Open-Collateral Underwriter Missing - Due Diligence Vendor-06/14/2022

Ready for Review-Document Uploaded. CU score - Seller-06/23/2022

Resolved-Collateral Underwriter Provided or Not Applicable UCCP score received and supports value - Due Diligence Vendor-06/28/2022

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

500494

XXXXXXX-2023-NQM4-2

Closed

FCRE7756

2022-06-28 05:11

2023-05-17 13:08

Resolved

1 - Information

Credit

Missing Doc

Missing credit report

Resolved-Credit Report is Provided - Due Diligence Vendor-06/28/2022

Resolved-Received credit report - Due Diligence Vendor-06/28/2022

Ready for Review-Document Uploaded. Document Uploaded. Credit report attached - Seller-06/28/2022

Open-Credit Report is Missing - Due Diligence Vendor-06/14/2022

Ready for Review-Document Uploaded. Document Uploaded. Credit report attached - Seller-06/28/2022

Resolved-Credit Report is Provided - Due Diligence Vendor-06/28/2022

Resolved-Received credit report - Due Diligence Vendor-06/28/2022

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

500457

XXXXXXX-2023-NQM4-2

Closed

FPRO1242

2022-06-28 05:11

2022-06-28 16:42

Resolved

1 - Information

Property

Missing Doc

Appraisal is Missing

Resolved-Appraisal is Present or is Waived - Due Diligence Vendor-06/28/2022

Resolved-Received appraisal - Due Diligence Vendor-06/28/2022

Ready for Review-Document Uploaded. Document Uploaded. Appraisal attached - Seller-06/28/2022

Open-Appraisal is Missing - Due Diligence Vendor-06/14/2022

Ready for Review-Document Uploaded. Document Uploaded. Appraisal attached - Seller-06/28/2022

Resolved-Appraisal is Present or is Waived - Due Diligence Vendor-06/28/2022

Resolved-Received appraisal - Due Diligence Vendor-06/28/2022

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

500475

XXXXXXX-2023-NQM4-2

Closed

FVAL9739

2022-06-14 14:59

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Lender granted exception for repairs needed to property.

See page 238 of Closing docs PDF. - Due Diligence Vendor-06/14/2022

Reserves>6 months, Experienced investor with 2+ investment properties, Credit score >40% than minimum required, CLTV 10% below maximum

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

500521

XXXXXXX-2023-NQM4-3

Closed

finding-3635

2022-07-18 11:04

2022-10-28 11:29

Resolved

1 - Information

Compliance

TRID

Charges That In Total Cannot Increase More Than 10% Test

Resolved-COC clears finding - Due Diligence Vendor-10/28/2022

Ready for Review-Document Uploaded. See attached  - Seller-08/11/2022

Counter-Still  Missing COC for increased Recording fees at close. recording fee went up from 45 to 60 at close [redacted]
7/18/22, 11:04 AM (MD - Due Diligence Vendor-08/09/2022

Ready for Review-Please provide status - Seller-08/04/2022

Ready for Review-Document Uploaded. See attached  - Seller-07/20/2022

Open-This loan failed the charges that in total cannot increase more than 10% test.  (12 CFR §1026.19(e)(3)(ii))The loan contains third-party services that the consumer was permitted to shop for and the charges exceed the good faith tolerance according to §1026.19(e)(3)(ii). The final charges that in total cannot increase more than 10% ($60.00) exceed the comparable charges ($45.00) by more than 10%. Please see the table that displays the Charges That Cannot Increase More Than 10% for a comparison of the data between the provided disclosures.An estimate of a charge for a third-party service or a recording fee is in good faith if:(A) The aggregate amount of charges for third-party services and recording fees paid by or imposed on the consumer does not exceed the aggregate amount of such charges disclosed under §1026.19(e)(1)(i) by more than 10 percent;(B) The charge for the third-party service is not paid to the creditor or an affiliate of the creditor; and(C) The creditor permits the consumer to shop for the third-party service, consistent with §1026.19(e)(1)(vi). Missing COC for increased Recording fees at close.  recording fee went up from 45 to 60 at close - Due Diligence Vendor-07/18/2022

Ready for Review-Document Uploaded. See attached - Seller-08/11/2022

Ready for Review-Please provide status - Seller-08/04/2022

Ready for Review-Document Uploaded. See attached - Seller-07/20/2022

Resolved-COC clears finding - Due Diligence Vendor-10/28/2022

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

554429

XXXXXXX-2023-NQM4-3

Closed

finding-3631

2022-07-18 11:04

2022-08-14 19:23

Resolved

1 - Information

Compliance

Points & Fees

Reimbursement Amount Validation Test

Resolved-COC received clears findings - Due Diligence Vendor-08/15/2022

Ready for Review-Document Uploaded. See attached - Seller-08/11/2022

Counter- Missing COC for increased Recording fees at close. recording fee went up from 45 to 60 at close[redacted]
7/18/22, 11:04 AM (MD - Due Diligence Vendor-08/09/2022

Ready for Review-Please provide status - Seller-08/04/2022

Ready for Review-Document Uploaded. see attached - Seller-07/20/2022

Open-This loan failed the reimbursement amount validation test.The loan failed one or more tolerance tests and did not provide a reimbursement amount. This information is necessary in order to correctly perform reimbursement calculations. - Due Diligence Vendor-07/18/2022

Ready for Review-Document Uploaded. See attached - Seller-08/11/2022

Ready for Review-Please provide status - Seller-08/04/2022

Ready for Review-Document Uploaded. see attached - Seller-07/20/2022

Resolved-COC received clears findings - Due Diligence Vendor-08/15/2022

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

554426

XXXXXXX-2023-NQM4-3

Closed

finding-3632

2022-07-18 11:04

2022-08-14 19:23

Resolved

1 - Information

Compliance

Disclosure

Consummation or Reimbursement Date Validation Test

Resolved-COC received clears findings - Due Diligence Vendor-08/15/2022

Ready for Review-Document Uploaded. See attached - Seller-08/11/2022

Counter- Missing COC for increased Recording fees at close. recording fee went up from 45 to 60 at close [redacted]
7/18/22, 11:04 AM (MD - Due Diligence Vendor-08/09/2022

Ready for Review-Please provide status - Seller-08/04/2022

Ready for Review-Document Uploaded. see attached COC's - Seller-07/20/2022

Open-This loan failed the closing or reimbursement date validation test.The loan failed one or more tolerance tests and did not provide either a reimbursement date or a consummation date (or closing / settlement date, if consummation date is not available). This information is necessary in order to correctly perform reimbursement calculations. - Due Diligence Vendor-07/18/2022

Ready for Review-Document Uploaded. See attached - Seller-08/11/2022

Ready for Review-Please provide status - Seller-08/04/2022

Ready for Review-Document Uploaded. see attached COC's - Seller-07/20/2022

Resolved-COC received clears findings - Due Diligence Vendor-08/15/2022

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

554427

XXXXXXX-2023-NQM4-3

Closed

finding-3888

2022-07-18 11:04

2022-08-14 19:23

Resolved

1 - Information

Compliance

ComplianceEase

Qualified Mortgage APR Threshold Test

Resolved-COC received clears findings - Due Diligence Vendor-08/15/2022

Rescinded-non qm - Due Diligence Vendor-08/09/2022

Rescinded-This loan failed the qualified mortgage APR threshold test. (12 CFR §1026.43(e)(2)(vi))A qualified mortgage is a covered transaction which, among other requirements, is not negatively amortizing and:The note amount for a first lien is greater than or equal to ($114847.000), and its APR calculated per the requirements of 12 CFR §1026.43(e)(2)(vi) is less than the APOR on the date the rate was set plus 2.25%; orThe note amount for a first lien on a manufactured home is less than ($114847.000), and its APR calculated per the requirements of 12 CFR §1026.43(e)(2)(vi) is less than the APOR on the date the rate was set plus 6.5%; orThe note amount for a first lien a non-manufactured home is less than ($114847.000) but greater than or equal to ($68908.000), and its APR calculated per the requirements of 12 CFR §1026.43(e)(2)(vi) is less than the APOR on the date the rate was set plus 3.5%; orThe note amount for a second lien is greater than or equal to ($68908.000), and its APR calculated per the requirements of 12 CFR §1026.43(e)(2)(vi) is less than the APOR on the date the rate was set plus 3.5%; orThe note amount on a first lien a non-manufactured home or a second lien is less than ($68908.000), and its APR calculated per the requirements of 12 CFR §1026.43(e)(2)(vi) is less than the APOR on the date the rate was set plus 6.5%. - Due Diligence Vendor-07/18/2022

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

554428

XXXXXXX-2023-NQM4-3

Closed

FCRE3464

2022-07-18 08:12

2022-08-03 15:36

Resolved

1 - Information

Credit

Missing Doc

Missing Closing/Final Verbal VOE

Resolved-Accept Business search - Due Diligence Vendor-08/03/2022

Ready for Review-Business search is acceptable for 20 day VOE for non-qm loans - Seller-07/20/2022

Open-Proof of business within 20 days of Note missing - Due Diligence Vendor-07/18/2022

Ready for Review-Business search is acceptable for 20 day VOE for non-qm loans - Seller-07/20/2022

Resolved-Accept Business search - Due Diligence Vendor-08/03/2022

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

553518

XXXXXXX-2023-NQM4-4

Closed

FCRE1194

2023-02-17 09:59

2023-03-30 11:02

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Document Uploaded. - Due Diligence Vendor-03/30/2023

Waived-Exception given for Using prior sales price and using Appraisal for LTV - Due Diligence Vendor-03/30/2023

Waived-Waiver for LTV-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] - cash out refi and property purchased less than 6 months ago.

- Due Diligence Vendor-03/23/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-03/23/2023

Open-Audited LTV of[redacted] exceeds Guideline LTV of [redacted] - cash out refi and property purchased less than 6 months ago. Purchased 8/23/2022 $11,800 + Improvements of $142,447.85 (page 1147) totaling $154,247.85. Appraised value [redacted] - Due Diligence Vendor-02/17/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-03/23/2023

Reserves >=3 months greater than loan program, No Credits Events Past 48 months , Borrower's FICO 744

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

860432

XXXXXXX-2023-NQM4-4

Closed

FPRO116

2023-02-17 10:28

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Lender granted exception for zoning rural - Neighborhood characteristics marked location as Suburban, but zoning description displays Residential Rural.
- Due Diligence Vendor-02/17/2023

Credit score >40% than minimum required, No consumer late payments in last 48 months, 5+ years credit history, No mortgage late payments in last 24 months, No credit events past 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

860497

XXXXXXX-2023-NQM4-4

Closed

FVAL9739

2023-02-17 10:26

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Lender granted exception for comparables - New construction, some comparables are not very close. 3 out 4 comparable sales - Due Diligence Vendor-02/17/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

860493

XXXXXXX-2023-NQM4-5

Closed

FCOM1109

2023-03-03 15:01

2023-05-11 07:45

Resolved

1 - Information

Compliance

Disclosure

Maximum Pre-Payment Penalty Amount Not Entered

Resolved-Validation Resolved - Due Diligence Vendor-05/11/2023

Resolved-Updated docs with PPP received - Due Diligence Vendor-05/11/2023

Ready for Review-Document Uploaded. Please review uploaded signed correct documents. Title will be re-recording the mortgage. - Seller-05/10/2023

Open-Investment loan in [redacted], no pre payment rider on Note. - Due Diligence Vendor-03/03/2023

Ready for Review-Document Uploaded. Please review uploaded signed correct documents. Title will be re-recording the mortgage. - Seller-05/10/2023

Resolved-Validation Resolved - Due Diligence Vendor-05/11/2023

Resolved-Updated docs with PPP received - Due Diligence Vendor-05/11/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

878706

XXXXXXX-2023-NQM4-5

Closed

FCRE1198

2023-02-22 11:39

2023-03-08 08:30

Resolved

1 - Information

Credit

Eligibility

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

Resolved-Resolved have adjusted asset - to reflect.  - Due Diligence Vendor-03/08/2023

Ready for Review-Total available assets were $17,060.43+$40,929.43=$57,989.86. [redacted]  Bankaccount Activity report was in file covering dates 11/01/22 to 02/08/23 with ending balance $40929.43
Cash to close per final CD $11,787.77
Remaining assets for reserves after closing $46,202.09-this cover 3 months reserves requirements. - Seller-03/07/2023

Counter-Cash to close number of $57,352 includes the 1031 [redacted].  But including that money and what is necessary to close together with reserves still has  money to close short $229.03  - Due Diligence Vendor-03/07/2023

Ready for Review-Per final CD (page 282 of uploaded credit package)cash to close was $11,787.77-borrower had enough funds to cover cash to close and reserves requirements. - Seller-03/06/2023

Open-Audited Reserves of 2.87 month(s) are less than Guideline Required Reserves of 3 month(s) Verified assets $57,352.86, cash to close is $52,367.20, 3 months reserves required equal to $5,214.69, borrower is hence short $229.03 to meet reserve requirement Missing $15,000 represented on 1003 - Due Diligence Vendor-03/03/2023

Ready for Review-Total available assets were $17,060.43+$40,929.43=$57,989.86. [redacted]r Bankaccount Activity report was in file covering dates 11/01/22 to 02/08/23 with ending balance $40929.43
Cash to close per final CD $11,787.77
Remaining assets for reserves after closing $46,202.09-this cover 3 months reserves requirements. - Seller-03/07/2023

Ready for Review-Per final CD (page 282 of uploaded credit package)cash to close was $11,787.77-borrower had enough funds to cover cash to close and reserves requirements. - Seller-03/06/2023

Resolved-Resolved have adjusted asset - to reflect. - Due Diligence Vendor-03/08/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

865447

XXXXXXX-2023-NQM4-5

Closed

FCOM4028

2023-02-22 10:49

2023-03-03 15:08

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

865283

XXXXXXX-2023-NQM4-6

Closed

FVAL4940

2023-03-03 12:19

2023-03-20 12:11

Resolved

1 - Information

Property

Missing Doc

Missing Homeowner's Association Questionnaire

Resolved-document received - Due Diligence Vendor-03/20/2023

Ready for Review-Document Uploaded. Please find attached - Seller-03/17/2023

Open-Subject Property is a FL Condo - Due Diligence Vendor-03/03/2023

Ready for Review-Document Uploaded. Please find attached - Seller-03/17/2023

Resolved-document received - Due Diligence Vendor-03/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

878358

XXXXXXX-2023-NQM4-7

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-8

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-9

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

XXXXXXX-2023-NQM4-10

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-11

Closed

FCRE9991

2023-03-15 12:27

2023-03-20 12:49

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-data now matches tape - Due Diligence Vendor-03/20/2023

Ready for Review-Document Uploaded. Please find attached updated documents - rental income was set from "currently rented" amount on 1007, file is still valid. - Seller-03/17/2023

Open-There is a DSCR score difference by 0.19. * PITIA : $[redacted]
* Rent amount considered by Lender is $1,400 but unable to find any document and also there is no lease agreement for the same amount . As per 1007 rent is 1200 . Caclulation1200/1053.92 = 1.14

- Due Diligence Vendor-03/15/2023

Ready for Review-Document Uploaded. Please find attached updated documents - rental income was set from "currently rented" amount on 1007, file is still valid. - Seller-03/17/2023

Resolved-data now matches tape - Due Diligence Vendor-03/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

891915

XXXXXXX-2023-NQM4-11

Closed

FCRE1200

2023-03-14 12:42

2023-03-14 12:53

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception Type --Material: Loan Amount--Request lower loan amount than minimum--Due to appraisal coming in lower, we are requesting a lower LA. Borrower originally thought by his market area that his property would come in at $[redacted]. Appraisal came back at $[redacted]. Current loan amount is $[redacted], and we are requesting $[redacted]. Thank you for your consideration.
(Exception form present on page #989)
- Due Diligence Vendor-03/14/2023

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception Type --Material: Loan Amount--Request lower loan amount than minimum--Due to appraisal coming in lower, we are requesting a lower LA. Borrower originally thought by his market area that his property would come in at $180k. Appraisal came back at $[redacted]. Current loan amount is $[redacted], and we are requesting $92,300. Thank you for your consideration.
(Exception form present on page #989)
- Due Diligence Vendor-03/14/2023

Reserves>6 months, Credit score >40% than minimum required, CLTV 10% below maximum, Monthly payment
reduction by >=20%, No consumer late payments in last 48 months, No mortgage late payments in last 24 months, No
credit events past 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

890667

XXXXXXX-2023-NQM4-12

Closed

FCRE8459

2023-03-21 16:52

2023-03-23 07:55

Waived

2 - Non-Material

Credit

Eligibility

Borrower Entity Ownership does not meet guidelines

Waived-Exception Type Material: Title--1 borrower with 2 partners on LLC--Exception to allow a loan to be submitted excluding the other partner of the corporation who has 50% shares and will be removed from the corporation at closing as it shows on theh buy shares agreement. Borrower wil be 100% owner of the corporation holding property title.
(Exception form present on page #99 of Borrower pkg.pdf)

- Due Diligence Vendor-03/21/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, 5+ years credit history

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

898296

XXXXXXX-2023-NQM4-13

Closed

FVAL9739

2023-03-21 14:06

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :- Material: Title
Short Description :- Allow 1 Borrower with 2 partners on LLC
Comments :- Exception to allow a loan to be submitted excluding the other partner of the corporation who has 50% shares and will be removed from the corporation at closing as it shows on the buy shares agreement. Borrower will be 100% owner of the corporation holding property's title
Exception form available on page no 99 of 99 - Due Diligence Vendor-03/21/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, 5+ years credit history

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

898158

XXXXXXX-2023-NQM4-14

Closed

FVAL9739

2023-03-30 15:19

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :- Material: Appraisal
Short Description :- New construction . Comps 4 miles over
Comments :- Approved exception form required for the following: New construction with comparable sales over 4 miles from
the subject.
Exception form available on page no 447 of 449 - Due Diligence Vendor-03/30/2023

DTI >=10% lower than loan program, 10 years or more in same line of employment, No mortgage late payments in last 24 months
Residual income >=$3000, DTI >=10% lower than loan program, 10 years or more in same line of employment

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

907706

XXXXXXX-2023-NQM4-15

Closed

FCRE1501

2023-04-04 09:43

2023-06-13 09:10

Waived

2 - Non-Material

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Waived-waiver for TOTAL QUALIFIED ASSETS FOR RESERVES POST-CLOSE IS LESS THAN TOTAL REQUIRED RESERVE
AMOUNT
- Due Diligence Vendor-06/13/2023

Ready for Review-Document Uploaded. Please, find the exception attached. Thank you! - Seller-06/13/2023

Open-Total Qualified Assets for Reserves Post-Close of $2453.9 is less than Total Required Reserve Amount of $8383.29 Total Required Reserve Amount is $8383.29, Available funds in file for reserves is $2,453.90. Provide additional 2 months asset statement of $5,929.38 - Due Diligence Vendor-04/04/2023

Ready for Review-Document Uploaded. Please, find the exception attached. Thank you! - Seller-06/13/2023

Waived-waiver for TOTAL QUALIFIED ASSETS FOR RESERVES POST-CLOSE IS LESS THAN TOTAL REQUIRED RESERVE
AMOUNT
- Due Diligence Vendor-06/13/2023

Compensating Factors
No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, Credit score >40 points than
minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

912027

XXXXXXX-2023-NQM4-15

Closed

FCRE1491

2023-04-04 10:03

2023-06-05 08:51

Waived

2 - Non-Material

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Waived-As per Guideline for investment loan LTV <=80 minimum borrower contribution requirement is 20%. Loan file
borrower contribution is 12.5%
Comments
- Due Diligence Vendor-06/05/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-06/02/2023

Open-Asset Qualification Does Not Meet Guideline Requirements As per Guideline for investment loan LTV <=80 minimum borrower contribution requirement is 20%. Loan file borrower contribution is 12.5% - Due Diligence Vendor-04/04/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-06/02/2023

Waived-As per Guideline for investment loan LTV <=80 minimum borrower contribution requirement is 20%. Loan file
borrower contribution is 12.5%
Comments
- Due Diligence Vendor-06/05/2023

Compensating Factors
No credit events past 48 months, 5+ years credit history, Credit score >40 points than minimum required, Other: specify below
FICO 698

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

912077

XXXXXXX-2023-NQM4-16

Closed

FCRE6843

2023-04-03 13:12

2023-06-22 11:31

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-letter now present. - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. We did it! At last! - Seller-06/22/2023

Open-CPA letter stating use of business funds wont impact business is missing - Due Diligence Vendor-04/03/2023

Ready for Review-Document Uploaded. We did it! At last! - Seller-06/22/2023

Resolved-letter now present. - Due Diligence Vendor-06/22/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

910831

XXXXXXX-2023-NQM4-17

Closed

FCRE8611

2023-04-20 13:30

2023-05-02 11:39

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-waiver for 2021 PL to show income is stable - Due Diligence Vendor-05/02/2023

Ready for Review-Document Uploaded. Please review uploaded exception form - Seller-05/02/2023

Counter-waiver is required since nothing to show income is stable for the year 2021 - Due Diligence Vendor-04/25/2023

Ready for Review-Per guide line we do not need P&L for entire year, since we go based to tax transcripts in file for 2 years.Please refer to GL 6.6.1 A YTD P&L (Borrower prepared acceptable, borrower required to sign the P&L) if a gap exists between the tax return ending date and current year to date of more than 60 days.
Qualifying income is determined from the tax returns, the P&L is used to determine that income is stable - Seller-04/25/2023

Counter- - Due Diligence Vendor-04/24/2023

Ready for Review-We have tax transcripts in file for 2019 and 2020 years, file is closing and reviewed as 2 Y full doc. P&L is provided for most recent month Jan-Feb.2022 -prior to closing. - Seller-04/24/2023

Open-missing P/L for 2021. Tax returns for B1 ended 2020 and P/L in file is only for Jan and Feb 2022. missing 2021 income proof - Due Diligence Vendor-04/20/2023

Ready for Review-Document Uploaded. Please review uploaded exception form - Seller-05/02/2023

Ready for Review-Per guide line we do not need P&L for entire year, since we go based to tax transcripts in file for 2 years.Please refer to GL 6.6.1 A YTD P&L (Borrower prepared acceptable, borrower required to sign the P&L) if a gap exists between the tax return ending date and current year to date of more than 60 days.
Qualifying income is determined from the tax returns, the P&L is used to determine that income is stable - Seller-04/25/2023

Ready for Review-We have tax transcripts in file for 2019 and 2020 years, file is closing and reviewed as 2 Y full doc. P&L is provided for most recent month Jan-Feb.2022 -prior to closing. - Seller-04/24/2023

Waived-waiver for 2021 PL to show income is stable - Due Diligence Vendor-05/02/2023

5 years on current job, 5+ years credit history, 2+ borrowers on the loan
Borrower's income has been improved/increased based to P&L provided for 2 months prior to closing.

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

932447

XXXXXXX-2023-NQM4-17

Closed

FCRE1193

2023-04-20 13:27

2023-04-27 11:46

Resolved

1 - Information

Credit

Eligibility

Audited DTI Exceeds Guideline DTI

Resolved-removed MI payment and redrock as 3 payments will be made by time first mtg is due.  dti is now under [redacted] - Due Diligence Vendor-04/27/2023

Ready for Review-Even with higher loan amount as per Note [redacted] our PITIA is [redacted] now. DTI would still be below [redacted].Calculations for DTI with updated loan amount would be
(pitia $[redacted]+ liabilities from credit report $[redacted]) /$[redacted]=54.427[redacted].
PITIA = p&i [redacted] plus hazard insurance $75.67+tAXES $154.29=$[redacted].Thank you. - Seller-04/26/2023

Counter-Your PITIA is based off of wrong loan amount.  Using the higher loan amount from note, your DTI is 59% - Due Diligence Vendor-04/24/2023

Ready for Review-DTI is 53.840,it's below [redacted].We go for PITIAa s for non-qm, not including MIP. PITIA is [redacted].DTI calculations are $[redacted] 53.84% - Seller-04/24/2023

Open-Audited DTI of 59.[redacted] exceeds Guideline DTI of [redacted] DTI is 59%.  Loan amount is [redacted]  and rate is 4%.  PI is [redacted].  tape has  [redacted] for payment.  Exception for DTI needed - Due Diligence Vendor-04/20/2023

Ready for Review-Even with higher loan amount as per Note $[redacted] our PITIA is $[redacted] now. DTI would still be below [redacted].Calculations for DTI with updated loan amount would be
(pitia [redacted] + liabilities from credit report $[redacted]) /$[redacted]=54.427[redacted].
PITIA = p&[redacted] plus hazard insurance $75.67+tAXES $154.29=[redacted].Thank you. - Seller-04/26/2023

Ready for Review-DTI is 53.840,it's below [redacted].We go for PITIAa s for non-qm, not including MIP. PITIA is $[redacted] DTI calculations are $[redacted]/$[redacted]=53.84% - Seller-04/24/2023

Resolved-removed MI payment and redrock as 3 payments will be made by time first mtg is due. dti is now under [redacted] - Due Diligence Vendor-04/27/2023

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

932439

XXXXXXX-2023-NQM4-17

Closed

FCOM4028

2023-04-20 12:25

2023-04-25 15:57

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-lender obtains upon purchase of loan - Due Diligence Vendor-04/25/2023

Ready for Review-Recorded docs will be provided once [redacted] purchase this file, only then corr. lender will provide with final title policy and recorded mortgage. - Seller-04/25/2023

Counter-need uploaded. Loan closed over a year ago. - Due Diligence Vendor-04/24/2023

Ready for Review-Recorded mortgage will be provided upon the receipt. - Seller-04/24/2023

Open-Missing evidence of Mortgage recording loan closed in 2022- need - Due Diligence Vendor-04/20/2023

Ready for Review-Recorded docs will be provided once [redacted] purchase this file, only then corr. lender will provide with final title policy and recorded mortgage. - Seller-04/25/2023

Ready for Review-Recorded mortgage will be provided upon the receipt. - Seller-04/24/2023

Resolved-lender obtains upon purchase of loan - Due Diligence Vendor-04/25/2023

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

932262

XXXXXXX-2023-NQM4-17

Closed

FCRE1194

2023-04-20 13:27

2023-04-20 13:29

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] LTV exceeds [redacted] - Due Diligence Vendor-04/20/2023

Waived-Audited LTV of 96.37% exceeds Guideline LTV of [redacted] LTV exceeds [redacted] - Due Diligence Vendor-04/20/2023

5 years on current job, 5+ years credit history, 2+ borrowers on the loan page 1

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

932441

XXXXXXX-2023-NQM4-17

Closed

FCRE1501

2023-04-20 13:18

Waived

2 - Non-Material

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Waived-Total Qualified Assets for Reserves Post-Close of $4113.33 is less than Total Required Reserve Amount of $7511.4 Borrower is short on assets to cover 3 months reserves requirements. - Due Diligence Vendor-04/20/2023

Waived-Total Qualified Assets for Reserves Post-Close of [redacted] is less than Total Required Reserve Amount of $7511.4 Borrower is short on assets to cover 3 months reserves requirements. - Due Diligence Vendor-04/20/2023

5 years on current job, 5+ years credit history, 2+ borrowers on the loan
Page 1

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

932427

XXXXXXX-2023-NQM4-18

Closed

FCRE1200

2023-04-26 13:00

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted]is less than the Guideline Minimum Loan Amount of $100000 Exception found on page 227 of closing package 2

One unit Owner owns 44% of the condo and Loan size $94,500

Approved with conditions of +0.25 to the rate, [redacted] ltv max, DSCR>1, min 3Y PPP - Due Diligence Vendor-04/26/2023

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception found on page 227 of closing package 2

One unit Owner owns 44% of the condo and Loan size [redacted]

Approved with conditions of +0.25 to the rate, [redacted] ltv max, DSCR>1, min 3Y PPP - Due Diligence Vendor-04/26/2023

Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

941585

XXXXXXX-2023-NQM4-19

Closed

FVAL1039

2023-05-02 09:29

2023-06-13 17:54

Acknowledged

2 - Non-Material

Property

Value

Appraised value unsupported

Acknowledged-Document Uploaded. - Due Diligence Vendor-06/13/2023

Counter-Document Uploaded. BPO provided is 18% variance - Due Diligence Vendor-05/25/2023

Open-4 unit refinance - no AVM - Due Diligence Vendor-05/02/2023

Acknowledged-Document Uploaded. - Due Diligence Vendor-06/13/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Post-Close

950164

XXXXXXX-2023-NQM4-19

Closed

FCRE1326

2023-05-02 08:50

2023-05-09 13:22

Waived

2 - Non-Material

Credit

Missing Doc

Borrower 1 YTD Profit & Loss Missing

Waived-waiver for missing P/L's - Due Diligence Vendor-05/09/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-05/08/2023

Open-Borrower 1 YTD Profit & Loss Missing missing 2021 and 2022 YTD for both business entities. Income returns were thru 2020. Need proof of stability. Loan closed in 9/2022 - Due Diligence Vendor-05/02/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-05/08/2023

Waived-waiver for missing P/L's - Due Diligence Vendor-05/09/2023

5 years on current job, Residual income >=$3000, No credit events past 48 months, Reserves>6 months

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Post-Close

Yes

950042

XXXXXXX-2023-NQM4-19

Closed

FCRE1301

2023-05-02 08:50

2023-05-09 13:22

Waived

2 - Non-Material

Credit

Income/Employment

Income 10 Months Income Verified is Missing

Waived-waiver provided for Missing P&L YTD 2021-2022 for both business entities; 10 months Income verified is missing: missing lease agreement for [redacted]. - Due Diligence Vendor-05/09/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-05/08/2023

Open-Income 10 Months Income Verified is Missing Missing lease agreement for [redacted] reflecting [redacted] monthly. - Due Diligence Vendor-05/02/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-05/08/2023

Waived-waiver provided for Missing P&L YTD 2021-2022 for both business entities; 10 months Income verified is missing: missing lease agreement for [redacted]. - Due Diligence Vendor-05/09/2023

5 years on current job, Residual income >=$3000, No credit events past 48 months, Reserves>6 months

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Post-Close

Yes

950044

XXXXXXX-2023-NQM4-20

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-21

Closed

FCRE1326

2023-05-09 14:41

2023-06-15 13:17

Waived

2 - Non-Material

Credit

Missing Doc

Borrower 1 YTD Profit & Loss Missing

Waived-Lender is waiving the YTD PL and accepting income from 2022 - Due Diligence Vendor-06/15/2023

Ready for Review-Document Uploaded. Please find Exception form attached - Seller-06/14/2023

Open-YTD P/L missing. last income date 12/31/2022 from tax return. Income worksheet shows a calculation from a P/L from Jan thru April but not in file - Due Diligence Vendor-05/09/2023

Ready for Review-Document Uploaded. Please find Exception form attached - Seller-06/14/2023

Waived-Lender is waiving the YTD PL and accepting income from 2022 - Due Diligence Vendor-06/15/2023

Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, No credit events past 48 months, 5+ years credit
history, No consumer late payments in last 48 months, Reserves>6 months

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

961143

XXXXXXX-2023-NQM4-21

Closed

FCRE1200

2023-05-09 14:38

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Loan Amount < $100,000
Comments Loan Amount is < $100k... There will be 2% Finance Closing Costs for an effective LTV of [redacted]%(
$[redacted]). Guidelines & Pricing to be based off [redacted] LTV but Qualify Loan at [redacted] LTV.
- Due Diligence Vendor-05/09/2023

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Loan Amount < $100,000
Comments Loan Amount is < $100k... There will be 2% Finance Closing Costs for an effective LTV of [redacted]
$[redacted]). Guidelines & Pricing to be based off [redacted] LTV but Qualify Loan at[redacted] LTV.
- Due Diligence Vendor-05/09/2023

Several income sources and DTI below 45%, 5 years on current job, Residual income >=$3000, DTI >=10% lower than loan
program, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late
payments in last 48 months, LTV 10% below maximum, Credit score >40% than minimum required, Borrower contribution exceeds
requirement >=5%, Reserves>6 months
page 103/213

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

961137

XXXXXXX-2023-NQM4-22

Closed

FCRE1501

2023-05-10 16:55

2023-07-14 08:31

Resolved

1 - Information

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Resolved-updated balances provided - Due Diligence Vendor-07/14/2023

Resolved-Total Qualified Assets for Reserves Post-Close of [redacted] is equal to or greater than Total Required Reserve Amount of $4305.12 - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. Updated bank statements provided - Seller-07/13/2023

Open-Total Qualified Assets for Reserves Post-Close of $1104.11 is less than Total Required Reserve Amount of $4305.12 3 months reserves requirement is : 3* $1,435.04 = $4,305.12. Available funds are $1,103.61 Please provide an additional 2 most recent months of assets document for $3,201.51 reserves - Due Diligence Vendor-05/11/2023

Ready for Review-Document Uploaded. Updated bank statements provided - Seller-07/13/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

963035

XXXXXXX-2023-NQM4-22

Closed

FCRE6843

2023-05-10 17:07

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception Type :- Material: Assets
Short Description :- > 20% of own funds to close
Comments :- Hello Credit committee this exception is for a borrower who has only 6% of own funds to contribute towards the
purchase of this investment property. The remaining is gifted. Please take into consideration the borrower is committing to a 5 year PPP and the apprasial came in $5k over the purchase price
Exception form available on page no 551 of 554. - Due Diligence Vendor-05/10/2023

5 years on current job, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No
consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

963040

XXXXXXX-2023-NQM4-23

Closed

FVAL9739

2023-05-10 13:33

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Lender granted exception for trends, demand over supply, MKtg time over 6 mths

see page 949 - Due Diligence Vendor-05/10/2023

Experienced investor with 2+ investment properties, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

962742

XXXXXXX-2023-NQM4-23

Closed

FCRE9806

2023-05-10 13:32

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Lender granted exception for title under corp which is owned by 2 corps

See page 173 - Due Diligence Vendor-05/10/2023

2+ borrowers on the loan Experienced investor with 2+ investment properties, 2+ borrowers on the loan, No credit events past 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

962734

XXXXXXX-2023-NQM4-24

Closed

FCRE1194

2023-05-16 11:20

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception (page 101 of 104) waived [redacted] New Constr [redacted] LTV max to [redacted] LTV Max -- approved with conditions to add 0.5 to the rate, min 3YPPP, 6 months reserves required. - Due Diligence Vendor-05/16/2023

Several income sources and DTI below 45%, Revolving debt is under 30%, 5 years on current job, DTI >=10% lower than loan program, 10 years or more in same line of employment, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Borrower contribution exceeds requirement >=5%, Reserves>6 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

969533

XXXXXXX-2023-NQM4-25

Closed

FCRE1325

2023-05-17 15:17

2023-08-25 20:46

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 CPA Letter Missing

Resolved-Borrower 1 CPA Letter Provided - Due Diligence Vendor-08/26/2023

Resolved-letter now present - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. CPA letter provided - Seller-07/06/2023

Open-Need signed and dated CPA letter . Available CPA letter page# 399 of 547 is not signed and dated. - Due Diligence Vendor-05/17/2023

Ready for Review-Document Uploaded. CPA letter provided - Seller-07/06/2023

Resolved-Borrower 1 CPA Letter Provided - Due Diligence Vendor-08/26/2023

Resolved-letter now present - Due Diligence Vendor-07/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

971769

XXXXXXX-2023-NQM4-26

Closed

FCRE1501

2023-05-17 12:19

2023-07-10 08:44

Resolved

1 - Information

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Resolved-proof of gift now present - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Please disregard the gift letter of $3,120. There is a gift of $4,000 at Closing and a letter attached. Also, please find proof of transfer at p.1 of signed closing pkg. - Seller-07/07/2023

Open-Total Qualified Assets for Reserves Post-Close of $7972.99 is less than Total Required Reserve Amount of $9798.75 Bwr has 2.44 months in PITI reserves - File is short $1,825.76 in reserve funds. Total gift amount of 50K + 50K + 8K and 9K sourced in file. Note that on page324 an additional gift of $3,120 is dated on 05/11/2023 - however, the bank stmts in file do not reflect receipt of this deposit. - Due Diligence Vendor-05/17/2023

Ready for Review-Document Uploaded. Please disregard the gift letter of $3,120. There is a gift of $4,000 at Closing and a letter attached. Also, please find proof of transfer at p.1 of signed closing pkg. - Seller-07/07/2023

Resolved-proof of gift now present - Due Diligence Vendor-07/10/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

971477

XXXXXXX-2023-NQM4-26

Closed

FCRE8611

2023-05-23 11:55

2023-05-25 10:00

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-dated copy received. - Due Diligence Vendor-05/25/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-05/24/2023

Ready for Review-Document Uploaded. - Seller-05/24/2023

Open-P/L is not dated - Due Diligence Vendor-05/23/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-05/24/2023

Ready for Review-Document Uploaded. - Seller-05/24/2023

Resolved-dated copy received. - Due Diligence Vendor-05/25/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

979132

XXXXXXX-2023-NQM4-27

Closed

FVAL1039

2023-05-22 18:17

2023-05-24 12:03

Resolved

1 - Information

Property

Value

Appraised value unsupported

Resolved-BPO now present. - Due Diligence Vendor-05/24/2023

Ready for Review-Document Uploaded. Please see attached - Seller-05/23/2023

Open-need value product - Due Diligence Vendor-05/23/2023

Ready for Review-Document Uploaded. Please see attached - Seller-05/23/2023

Resolved-BPO now present. - Due Diligence Vendor-05/24/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

977711

XXXXXXX-2023-NQM4-27

Closed

FCRE1182

2023-05-22 18:16

2023-05-24 12:02

Resolved

1 - Information

Credit

Missing Doc

Approval/Underwriting Summary Not Provided

Resolved-loan approval now present. - Due Diligence Vendor-05/24/2023

Ready for Review-Document Uploaded. see attached - Seller-05/23/2023

Open-Missing Approval/Underwriting Summary missing - Due Diligence Vendor-05/23/2023

Ready for Review-Document Uploaded. see attached - Seller-05/23/2023

Resolved-loan approval now present. - Due Diligence Vendor-05/24/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

977707

XXXXXXX-2023-NQM4-27

Closed

FCOM1477

2023-05-22 17:27

2023-05-24 12:00

Resolved

1 - Information

Compliance

Missing Doc

Missing evidence of rate lock

Resolved-Evidence of Rate Lock Provided or Not Applicable (1003 Page Occupancy status is 'Investment'). - Due Diligence Vendor-05/24/2023

Resolved-rate lock now present. - Due Diligence Vendor-05/24/2023

Ready for Review-Document Uploaded. See attached - Seller-05/23/2023

Open-Evidence of Rate Lock Missing and Occupancy status captured on the 1003 Page is 'Primary Residence'. missing rate lock - Due Diligence Vendor-05/22/2023

Ready for Review-Document Uploaded. See attached - Seller-05/23/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

977691

XXXXXXX-2023-NQM4-27

Closed

FCRE9991

2023-05-22 18:19

2023-05-24 11:55

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-updated tape received. - Due Diligence Vendor-05/24/2023

Ready for Review-Document Uploaded. Document Uploaded.  - Seller-05/23/2023

Ready for Review-Document Uploaded.  - Seller-05/23/2023

Open-DTI is 29.03.  Lender has 42% as they have an extra $1250 in proposed PITIA but this is not documented.  need either proof of what the extra $1250 is or need a corrected data tape.  - Due Diligence Vendor-05/23/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-05/23/2023

Ready for Review-Document Uploaded. - Seller-05/23/2023

Resolved-updated tape received. - Due Diligence Vendor-05/24/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

977716

XXXXXXX-2023-NQM4-27

Closed

FCOM4028

2023-05-22 17:17

2023-05-24 11:54

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-recorded DOT now present - Due Diligence Vendor-05/24/2023

Ready for Review-Document Uploaded. See attached - Seller-05/23/2023

Open-Missing evidence of Mortgage recording - Due Diligence Vendor-05/22/2023

Ready for Review-Document Uploaded. See attached - Seller-05/23/2023

Resolved-recorded DOT now present - Due Diligence Vendor-05/24/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

977684

XXXXXXX-2023-NQM4-27

Closed

FCRE1491

2023-05-22 18:08

2023-05-24 11:46

Resolved

1 - Information

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Resolved-Proof borrower owns account provided. - Due Diligence Vendor-05/24/2023

Ready for Review-Document Uploaded. See attached - Seller-05/23/2023

Open-Asset Qualification Does Not Meet Guideline Requirements need proof one of the borrowers own Unknown LLC as this is the account holder name for [redacted] - Due Diligence Vendor-05/23/2023

Ready for Review-Document Uploaded. See attached - Seller-05/23/2023

Resolved-Proof borrower owns account provided. - Due Diligence Vendor-05/24/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

977703

XXXXXXX-2023-NQM4-27

Closed

FCRE3841

2023-05-22 18:17

2023-05-24 11:44

Resolved

1 - Information

Credit

Missing Doc

Missing Latest/Final Application Document

Resolved-B2 is non occupant - Due Diligence Vendor-05/24/2023

Ready for Review-co borrower is a non-occupant co borrower - Seller-05/23/2023

Open-B2 app says does not intent to occupy and its a primary - Due Diligence Vendor-05/23/2023

Ready for Review-co borrower is a non-occupant co borrower - Seller-05/23/2023

Resolved-B2 is non occupant - Due Diligence Vendor-05/24/2023

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

977715

XXXXXXX-2023-NQM4-27

Closed

FCRE1205

2023-05-22 18:10

2023-05-24 11:41

Resolved

1 - Information

Credit

Eligibility

OFAC Check Not Completed and/or Cleared

Resolved-OFAC Check Completed and Cleared - Due Diligence Vendor-05/24/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-05/23/2023

Open-OFAC Check Not Completed and/or Cleared missing - Due Diligence Vendor-05/23/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-05/23/2023

Resolved-OFAC Check Completed and Cleared - Due Diligence Vendor-05/24/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

977704

XXXXXXX-2023-NQM4-27

Closed

FCRE1201

2023-05-22 18:10

2023-05-24 11:41

Resolved

1 - Information

Credit

Missing Doc

Third Party Fraud Report not Provided

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-05/24/2023

Ready for Review-Document Uploaded. see attached - Seller-05/23/2023

Ready for Review-should be in file, page 289 - if not located please let me know - Seller-05/23/2023

Open-Missing Third Party Fraud Report missing for both borrowers - Due Diligence Vendor-05/23/2023

Ready for Review-Document Uploaded. see attached - Seller-05/23/2023

Ready for Review-should be in file, page 289 - if not located please let me know - Seller-05/23/2023

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-05/24/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

977705

XXXXXXX-2023-NQM4-27

Closed

FCRE1194

2023-05-22 18:16

2023-05-24 11:40

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Waiver for LTV of [redacted] exceed max allowable - Due Diligence Vendor-05/24/2023

Ready for Review-Document Uploaded. Please see exception - Seller-05/24/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Max LTV is 85 for Super [redacted] Credit score 708 - Due Diligence Vendor-05/23/2023

Ready for Review-Document Uploaded. Please see exception - Seller-05/24/2023

Waived-Waiver for LTV of [redacted] exceed max allowable - Due Diligence Vendor-05/24/2023

Residual income >=$3000, No credit events past 48 months, 2+ borrowers on the loan

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

977710

XXXXXXX-2023-NQM4-28

Closed

FCRE1186

2023-06-30 11:49

2023-06-30 11:52

Waived

2 - Non-Material

Credit

Eligibility

Audited DTI Exceeds AUS DTI

Waived-Exception granted: Allow to use 97% - Due Diligence Vendor-06/30/2023

Open-Audited DTI of 28.18% exceeds AUS DTI of 28% - Due Diligence Vendor-06/30/2023

Waived-Exception granted: Allow to use 97% - Due Diligence Vendor-06/30/2023

Revolving debt is under 30%, Residual Income >=$3000, DTI >= 10%. No mortgage late payments in last 24 months, No consumer late payments in last r8 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

1032001

XXXXXXX-2023-NQM4-28

Closed

FCRE1184

2023-05-25 14:37

2023-06-30 11:49

Resolved

1 - Information

Credit

Missing Doc

AUS Not Provided

Resolved-AUS is fully present - Due Diligence Vendor-06/30/2023

Resolved-LP received - Due Diligence Vendor-06/01/2023

Ready for Review-Document Uploaded. it was Freddie's files closed with LP. Please find attached. - Seller-06/01/2023

Open-Missing AUS This is a FNMA loan, so please provide DU - Due Diligence Vendor-05/25/2023

Ready for Review-Document Uploaded. it was Freddie's files closed with LP. Please find attached. - Seller-06/01/2023

Resolved-AUS is fully present - Due Diligence Vendor-06/30/2023

Resolved-LP received - Due Diligence Vendor-06/01/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

983471

XXXXXXX-2023-NQM4-28

Closed

1001287-1003545

2023-05-25 16:05

2023-06-30 11:45

Resolved

1 - Information

Compliance

AbilityToRepay:PriceBased

Federal - General Qualified Mortgage Price-Based Limit (First Lien)

Resolved-Resolved - Due Diligence Vendor-06/30/2023

Open-This is a QM FNMA loan - Due Diligence Vendor-06/30/2023

Resolved-Resolved - Due Diligence Vendor-06/30/2023

Open-The loan's (9.615%) APR equals or exceeds the General Qualified Mortgage Loan Price-Based threshold of (8.[redacted]), which is the comparable average [redacted] offer rate of (6.4%) plus 2.25. The System used the following date to perform the APOR index lookup (2023-05-01). The system added 2.25 to the comparable APOR because the ($373,450.00) note amount equals or exceeds ($124,331.00). The system used an interest rate of (8.125%) in the APR calculation. If the interest rate may change within the first five years after the first regular periodic payment, the system uses the highest interest rate that may apply during that five-year period as the interest rate for the full term of the loan. (12 CFR 1026.43(e)(2)(vi)(A)) APR exceeds APOR plus 2.25 Threshold is 8.65 - Due Diligence Vendor-05/25/2023

Resolved-Resolved - Due Diligence Vendor-06/30/2023

Resolved-Resolved - Due Diligence Vendor-06/30/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

983608

XXXXXXX-2023-NQM4-29

Closed

FCRE7805

2023-05-31 16:21

2023-07-31 13:17

Resolved

1 - Information

Credit

Missing Doc

Missing Income - Bank Statements

Resolved-Received copies of full bank statements - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Please find attached the updated Bank statements - Seller-07/31/2023

Open-Please provide missing pages of the below mentioned account as per statement date.
1)[redacted] - please provide 2nd pages of all these BS dated:- Feb 2022, June 2022 to Feb 2023 &  9th page : March 2022  & 10th page: May 2022
2) [redacted] - please provide 2nd pages of all these BS dated-Feb 2022, June to Feb 2023  - Due Diligence Vendor-05/31/2023

Ready for Review-Document Uploaded. Please find attached the updated Bank statements - Seller-07/31/2023

Resolved-Received copies of full bank statements - Due Diligence Vendor-07/31/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

988838

XXXXXXX-2023-NQM4-29

Closed

FCRE1964

2023-05-31 16:48

2023-06-07 13:42

Resolved

1 - Information

Credit

Missing Doc

Missing income documentation

Resolved-income removed and DTI recalculated - Due Diligence Vendor-06/07/2023

Ready for Review-Document Uploaded. Income from [redacted] was removed. DTI was recalculated. Please find updated Tape attached. - Seller-06/06/2023

Open-B2 : Please provide income proof as missing for[redacted] or remove income and updated DTI on data tape to 39.83% - Due Diligence Vendor-05/31/2023

Ready for Review-Document Uploaded. Income from [redacted] was removed. DTI was recalculated. Please find updated Tape attached. - Seller-06/06/2023

Resolved-income removed and DTI recalculated - Due Diligence Vendor-06/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

988859

XXXXXXX-2023-NQM4-30

Closed

FCRE6843

2023-05-30 14:36

2023-06-13 09:12

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-donor transfer received. - Due Diligence Vendor-06/13/2023

Ready for Review-Document Uploaded. Please refer to Gift letter. Money was transferred from Donor directly to Escrow. Here are proof of receipt and proof of transfer (attached), also should have been merged before. - Seller-06/13/2023

Open-missing proof EMD was given by donor for $6640 (we have copy of borrower wire for $6640 but no proof of when or how he received this gift from donor). need donor transfer to borrower. - Due Diligence Vendor-05/30/2023

Ready for Review-Document Uploaded. Please refer to Gift letter. Money was transferred from Donor directly to Escrow. Here are proof of receipt and proof of transfer (attached), also should have been merged before. - Seller-06/13/2023

Resolved-donor transfer received. - Due Diligence Vendor-06/13/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

986770

XXXXXXX-2023-NQM4-30

Closed

finding-3540

2023-05-31 09:48

2023-06-02 09:29

Resolved

1 - Information

Compliance

TRID

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

Resolved-received electronic delivery proof - Due Diligence Vendor-06/02/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/02/2023

Open-For Revised CD: Provide evidence that Revised Closing Disclosure issues on 05/19/2023 was sent electronically - Due Diligence Vendor-05/31/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/02/2023

Resolved-received electronic delivery proof - Due Diligence Vendor-06/02/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

987914

XXXXXXX-2023-NQM4-30

Closed

FVAL4036

2023-05-30 14:35

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-This is a flip transaction (subject property is being resold within 365 days of its acquisition by the seller and the
sales price has increased more than 10%). Maximum CLTV ratio is based up on the lower of the current
appraised value ([redacted]) or the initial purchase price paid by seller (borrower purchased property for
$[redacted] on 1/5/23 per the appraisal) plus documented improvements. Please document and source any
improvements seller has done to the property since they purchased it or LTV will be based on original [redacted]
purchase price. - That is the condition. W - Due Diligence Vendor-05/30/2023

Waived-This is a flip transaction (subject property is being resold within 365 days of its acquisition by the seller and the
sales price has increased more than 10%). Maximum CLTV ratio is based up on the lower of the current
appraised value ([redacted] or the initial purchase price paid by seller (borrower purchased property for
$[redacted] on 1/5/23 per the appraisal) plus documented improvements. Please document and source any
improvements seller has done to the property since they purchased it or LTV will be based on original $[redacted]
purchase price. - That is the condition. W - Due Diligence Vendor-05/30/2023

Residual income >=$3000, 5+ years credit history, Credit score >40 points than minimum required, Borrower contribution exceeds
requirement >=5%, Reserves>6 months
Page 125

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

986769

XXXXXXX-2023-NQM4-31

Closed

FCRE8611

2023-06-02 12:52

2023-06-13 09:49

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-Lender addressed they are ok with 1 yr program.  Income was calculated over 2 yrs but this is more supportive overall for stability.  - Due Diligence Vendor-06/13/2023

Ready for Review-Document Uploaded. Please see the response from UW.Tthank you. - Seller-06/12/2023

Counter-disagree.  Your income calculators uploaded reflect 24 months income and P/L page 621 is from Jan 2021 to March 2023.  Need program to show 2YR.  Also 2 years of W2s are in the file and income calc for B1.  - Due Diligence Vendor-06/12/2023

Ready for Review-P&L in file is for 1 Y -it's covering period 04/01/2022 to 03/31/2023 - Seller-06/09/2023

Counter-we have this documentation,  the issue is we the wrong program.  Need program to reflect 2 YR PL not 1 YR - Due Diligence Vendor-06/07/2023

Ready for Review-Document Uploaded. Income is w2 for borrower 1 and P&L for borrower 2 - Seller-06/06/2023

Open-Please confirm the Loan Program Income Type
*Received program document is showing 12 months P&L
*But For both the borrowers the income is calculated and considered using 24 months.  - Due Diligence Vendor-06/05/2023

Ready for Review-Document Uploaded. Please see the response from UW.Tthank you. - Seller-06/12/2023

Ready for Review-P&L in file is for 1 Y -it's covering period 04/01/2022 to 03/31/2023 - Seller-06/09/2023

Ready for Review-Document Uploaded. Income is w2 for borrower 1 and P&L for borrower 2 - Seller-06/06/2023

Resolved-Lender addressed they are ok with 1 yr program. Income was calculated over 2 yrs but this is more supportive overall for stability. - Due Diligence Vendor-06/13/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

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

N/A

991837

XXXXXXX-2023-NQM4-32

Closed

FPRO116

2023-06-02 07:11

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-QC Exception request on PUD
Comments Hello Team, Loan is approved and in review with QC/CTC. QC requesting the following exception: A master
policy for common elements is required on all PUD projects with common elements noted in the
appraisal.Guideline Exception request is to waive this condition per CUW recommendation - Due Diligence Vendor-06/02/2023

DTI >=10% lower than loan program, 10 years or more in same line of employment, No credit events past 48 months, 5+ years credit
history
Page931

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

Originator Pre-Close

Yes

991073

XXXXXXX-2023-NQM4-33

Closed

FCRE1440

2023-06-07 15:41

2023-08-21 11:49

Resolved

1 - Information

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-08/21/2023

Resolved-current address updated - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Please see corrected 1003 in attachment - Seller-07/18/2023

Open-Final 1003 pg#59 the Current address is [redacted] mentioned as own but in the REO section the same property is considered as an Investment. - Due Diligence Vendor-06/07/2023

Ready for Review-Document Uploaded. Please see corrected 1003 in attachment - Seller-07/18/2023

Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-08/21/2023

Resolved-current address updated - Due Diligence Vendor-07/18/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

997926

XXXXXXX-2023-NQM4-34

Closed

1001099-1003115

2023-06-08 14:28

2023-06-13 10:31

Resolved

1 - Information

Compliance

Fees:Limited

[redacted] - Recording Service Fee (MLFOP)(First Lien)

Resolved-Fee was included in settlement fees as instructed by title company - Due Diligence Vendor-06/13/2023

Resolved-Resolved - Due Diligence Vendor-06/13/2023

Ready for Review-As per the Compliance department, these are title fees. There are different laws governing these fees. Please, refer to Article 7.1.C: "When an Insurer or Title Insurance Agent is performing closing or settlement services and arranges for (i) a subordination of mortgage, other lien, or other interest; (ii) a warrant to satisfy judgment; or (iii) a release of property from a judgment, the Insurer or Title Insurance Agent shall charge $35.00 for each such document, in addition to the applicable recording fees." Thank you! - Seller-06/12/2023

Open-The [redacted] Residential Mortgage Loans, Fees, Obligations Provisions limit the amount of the additional service fee for recording a cancellation of a mortgage to $25. (N.J.A.C. 3:1-16.2(a)(9)) $35.00 was charged at close, max is $25.00 - Due Diligence Vendor-06/08/2023

Ready for Review-As per the Compliance department, these are title fees. There are different laws governing these fees. Please, refer to Article 7.1.C: "When an Insurer or Title Insurance Agent is performing closing or settlement services and arranges for (i) a subordination of mortgage, other lien, or other interest; (ii) a warrant to satisfy judgment; or (iii) a release of property from a judgment, the Insurer or Title Insurance Agent shall charge $35.00 for each such document, in addition to the applicable recording fees." Thank you! - Seller-06/12/2023

Resolved-Fee was included in settlement fees as instructed by title company - Due Diligence Vendor-06/13/2023

Resolved-Resolved - Due Diligence Vendor-06/13/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

999789

XXXXXXX-2023-NQM4-34

Closed

2000000

2023-06-06 13:21

2023-06-13 10:31

Resolved

1 - Information

Compliance

Mavent

Fees: Prohibited

Resolved-Fee was included into settlement fees - Due Diligence Vendor-06/13/2023

Resolved-Resolved - Due Diligence Vendor-06/13/2023

Ready for Review-As per the Compliance department, these are title fees. There are different laws governing these fees. Please, refer to Article 7.1.c: "When an Insurer or Title Insurance Agent is performing closing or settlement services and arranges for (i) a subordination of mortgage, other lien, or other interest; (ii) a warrant to satisfy judgment; or (iii) a release of property from a judgment, the Insurer or Title Insurance Agent shall charge $35.00 for each such document, in addition to the applicable recording fees." Thank you! - Seller-06/12/2023

Open-Section 3:1-16.2 of the [redacted] Mortgage Loans, Fees, Obligations Provisions (N.J.A.C. 3:1-16.2) does not allow Title Legal Review Fee (Fee ID: 998) to be charged to the Borrower in [redacted]. - Due Diligence Vendor-06/06/2023

Open-Legal review fee is not on approved [redacted] Fee list. - Due Diligence Vendor-06/06/2023

Ready for Review-As per the Compliance department, these are title fees. There are different laws governing these fees. Please, refer to Article 7.1.c: "When an Insurer or Title Insurance Agent is performing closing or settlement services and arranges for (i) a subordination of mortgage, other lien, or other interest; (ii) a warrant to satisfy judgment; or (iii) a release of property from a judgment, the Insurer or Title Insurance Agent shall charge $35.00 for each such document, in addition to the applicable recording fees." Thank you! - Seller-06/12/2023

Resolved-Fee was included into settlement fees - Due Diligence Vendor-06/13/2023

Resolved-Resolved - Due Diligence Vendor-06/13/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

995945

XXXXXXX-2023-NQM4-34

Closed

FCRE1166

2023-06-06 06:41

2023-06-12 11:09

Resolved

1 - Information

Credit

Insurance

Hazard Insurance Coverage is less than all Subject Lien(s)

Resolved-lender has accepted similar construction language on policy - Due Diligence Vendor-06/12/2023

Ready for Review-Document Uploaded. Please refer to the p. 575 (HO-3) and 577 (Letter of explanation) of the Credit Package uploaded to the portal. I'm also attaching here the snip confirming replacement cost verbiage - Seller-06/09/2023

Open-Hazard Insurance Coverage Amount of $267000 is less than Total Amount of Subject Lien(s) of $[redacted]need cost estimator or replacement cost verbiage - Due Diligence Vendor-06/06/2023

Ready for Review-Document Uploaded. Please refer to the p. 575 (HO-3) and 577 (Letter of explanation) of the Credit Package uploaded to the portal. I'm also attaching here the snip confirming replacement cost verbiage - Seller-06/09/2023

Resolved-lender has accepted similar construction language on policy - Due Diligence Vendor-06/12/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

994890

XXXXXXX-2023-NQM4-35

Closed

FCRE9806

2023-06-08 15:53

2023-08-21 07:29

Resolved

1 - Information

Credit

Eligibility

Other Credit Finding

Resolved-corrected docs with prepayment now present - Due Diligence Vendor-08/21/2023

Ready for Review-Document Uploaded. Corrected documents and e-mail evidence provided - Seller-08/18/2023

Counter-Please provide revised NOTE to show Prepayment, Prepayment addendum to Note and provide revised Deed of Trust and rider for prepayment. - Due Diligence Vendor-06/12/2023

Ready for Review-There is a prepayment penalty of 5 years on file. Please refer to the Lock Confirmation on p. 395 of the Credit Package uploaded to the Portal (Price Details section ) - Seller-06/09/2023

Open-confirm no prepayment penalty in FL - Due Diligence Vendor-06/08/2023

Ready for Review-Document Uploaded. Corrected documents and e-mail evidence provided - Seller-08/18/2023

Ready for Review-There is a prepayment penalty of 5 years on file. Please refer to the Lock Confirmation on p. 395 of the Credit Package uploaded to the Portal (Price Details section ) - Seller-06/09/2023

Resolved-corrected docs with prepayment now present - Due Diligence Vendor-08/21/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

999903

XXXXXXX-2023-NQM4-35

Closed

FCRE1194

2023-06-06 08:02

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Exception on page 628

Requesting exception on property size and higher LTV. Unit #1 is 1,048sq.ft. and Unit #2 is 450 sq. ft. Desired
LTV is [redacted]. Appraisal and credit report attached.

Approved with conditions of 0.75 in price DSCR>1, CUW value review required, [redacted] LTV max. - Due Diligence Vendor-06/06/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

995111

XXXXXXX-2023-NQM4-36

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-37

Closed

FCRE1194

2023-06-01 12:17

2023-06-13 07:44

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Waive 12 seasoning requirement for using appraised value. Borrower has purchased subject property 06/06/2022- less than 12 months. For LTV calculations we supposed
to use prior purchase price [redacted], without improvements documents , this will impact LTV . Exception on LTV - Due Diligence Vendor-06/13/2023

Ready for Review-Document Uploaded. Please review uploaded exception form - Seller-06/12/2023

Open- - Due Diligence Vendor-06/12/2023

Open-Borrower purchased home 6/6/2022. Owned less than 12 months. Purchased for $[redacted] - Due Diligence Vendor-06/01/2023

Ready for Review-Document Uploaded. Please review uploaded exception form - Seller-06/12/2023

LTV 10% below maximum, No credit events past 48 months, No consumer late payments in last 48 months
Finidng

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

990091

XXXXXXX-2023-NQM4-37

Closed

FCOM4028

2023-06-01 10:56

2023-06-06 10:54

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-recorded mtg will follow from correspondent lender - Due Diligence Vendor-06/06/2023

Ready for Review-Recorded mortgage and final title policy will be provided upon the receipt, once [redacted] purchase the file from corr. lender. - Seller-06/05/2023

Open-Missing evidence of Mortgage recording - Due Diligence Vendor-06/01/2023

Ready for Review-Recorded mortgage and final title policy will be provided upon the receipt, once [redacted] purchase the file from corr. lender. - Seller-06/05/2023

Resolved-recorded mtg will follow from correspondent lender - Due Diligence Vendor-06/06/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

989874

XXXXXXX-2023-NQM4-37

Closed

FPRO116

2023-06-01 12:18

2023-06-06 10:53

Resolved

1 - Information

Property

Other Property/Value Finding

Resolved-sq ft verified. - Due Diligence Vendor-06/06/2023

Ready for Review-Document Uploaded. Please review uploaded AVM report ,LOt has 871SF - Seller-06/05/2023

Open-appraisal has lot size at 871sq but subject is 1708sq - Due Diligence Vendor-06/01/2023

Ready for Review-Document Uploaded. Please review uploaded AVM report ,LOt has 871SF - Seller-06/05/2023

Resolved-sq ft verified. - Due Diligence Vendor-06/06/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

990092

XXXXXXX-2023-NQM4-37

Closed

FCRE1166

2023-06-01 11:46

2023-06-06 10:50

Resolved

1 - Information

Credit

Insurance

Hazard Insurance Coverage is less than all Subject Lien(s)

Resolved-proof of replacement cost received. - Due Diligence Vendor-06/06/2023

Ready for Review-Document Uploaded. Please review uploaded RCE - Seller-06/06/2023

Open-Hazard Insurance Coverage Amount of $348000 is less than Total Amount of Subject Lien(s) of $[redacted] need cost estimator - Due Diligence Vendor-06/01/2023

Ready for Review-Document Uploaded. Please review uploaded RCE - Seller-06/06/2023

Resolved-proof of replacement cost received. - Due Diligence Vendor-06/06/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

990005

XXXXXXX-2023-NQM4-37

Closed

FCRE9991

2023-06-01 12:16

2023-06-06 10:45

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-DSCR now matches - Due Diligence Vendor-06/06/2023

Ready for Review-DSCR is accurate. Appraisal is reflecting currently rented for $4000.00-please refer to page 63 of uploaded credit package 1
calculations $4000.00/$5002.68=0.7995=0.80 - Seller-06/05/2023

Open-DSCR is 1.00 rents are $[redacted] PITIA need updated tape - Due Diligence Vendor-06/01/2023

Ready for Review-DSCR is accurate. Appraisal is reflecting currently rented for $4000.00-please refer to page 63 of uploaded credit package 1
calculations $[redacted]=0.7995=0.80 - Seller-06/05/2023

Resolved-DSCR now matches - Due Diligence Vendor-06/06/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

990090

XXXXXXX-2023-NQM4-38

Closed

FCRE1197

2023-06-05 15:19

2023-06-09 09:59

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-waiver for FICO not meeting - Due Diligence Vendor-06/09/2023

Ready for Review-Document Uploaded. Exception done prior to closing - please see attached - Seller-06/08/2023

Open-Audited FICO of 673 is less than Guideline FICO of 680 680 FICO required for rural properties. - Due Diligence Vendor-06/05/2023

Ready for Review-Document Uploaded. Exception done prior to closing - please see attached - Seller-06/08/2023

Waived-waiver for FICO not meeting - Due Diligence Vendor-06/09/2023

no credit events past 48 months, DTI 10% lower than program, reserves greater than 6 months

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

994351

XXXXXXX-2023-NQM4-38

Closed

FCRE8800

2023-06-05 15:02

2023-06-09 09:58

Resolved

1 - Information

Credit

Eligibility

Compensating Factors are insufficient to approve Exception Waiver

Resolved-pulled 4th comp factor from new waiver uploaded - Due Diligence Vendor-06/09/2023

Counter-Disagree. Only 3 factors were listed on page 766 9Residual income >=$3000, DTI >=10% lower than loan program, LTV 10% below maximum). DTI 33% is the same as DTI lower than program and [redacted] property is not a comp factor. - Due Diligence Vendor-06/09/2023

Ready for Review-Document Uploaded. Disregard the ltv compensating factor, as there are 4 comps - so without ltv there are still 3 compensating factors - Seller-06/08/2023

Open-Exception (page 766) used LTV 10% below maximum as a compensating factor. The loan closed at [redacted] and the max LTV is [redacted] because the property is rural. - Due Diligence Vendor-06/05/2023

Ready for Review-Document Uploaded. Disregard the ltv compensating factor, as there are 4 comps - so without ltv there are still 3 compensating factors - Seller-06/08/2023

Resolved-pulled 4th comp factor from new waiver uploaded - Due Diligence Vendor-06/09/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

994331

XXXXXXX-2023-NQM4-38

Closed

FCRE6843

2023-06-05 15:02

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Lender granted exception for more than 3 NSF 12 due to errors in accounting

see page 766 - Due Diligence Vendor-06/05/2023

Residual income >=$3000, DTI >=10% lower than loan program, LTV 10% below maximum

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

994326

XXXXXXX-2023-NQM4-39

Closed

FCRE1491

2023-06-06 15:44

2023-06-15 13:40

Waived

2 - Non-Material

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Waived-waiver for use of gift funds on investment and borrower does not have 20% own funds.  - Due Diligence Vendor-06/15/2023

Ready for Review-Document Uploaded. Document Uploaded.  - Seller-06/14/2023

Open-Asset Qualification Does Not Meet Guideline Requirements gift funds not allowed on investment since borrower does not have 20% own funds.  Borrower own funds are $11535.08 and borrower had to bring $46599.49 + 6 months reserves most of this was gift ($100000 gift received) - Due Diligence Vendor-06/06/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/14/2023

Waived-waiver for use of gift funds on investment and borrower does not have 20% own funds. - Due Diligence Vendor-06/15/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Post-Close

Yes

996248

XXXXXXX-2023-NQM4-39

Closed

FCRE9806

2023-06-06 15:52

2023-06-14 09:01

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Exception to property type and program type: - Due Diligence Vendor-06/14/2023

Ready for Review-Document Uploaded. Exceptions were updated, sorry it wasn't merged before - Seller-06/14/2023

Open-Subject is mixed used. per guidelines Mixed use is only allowed for DSCR program. This closed as a Super [redacted] P/L program. - Due Diligence Vendor-06/06/2023

Ready for Review-Document Uploaded. Exceptions were updated, sorry it wasn't merged before - Seller-06/14/2023

Waived-Exception to property type and program type: - Due Diligence Vendor-06/14/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Post-Close

Yes

996263

XXXXXXX-2023-NQM4-39

Closed

FCOM8972

2023-06-06 15:50

2023-06-13 09:36

Resolved

1 - Information

Compliance

Missing Doc

Missing Deed of Trust Riders

Resolved-lender addressed riders - Due Diligence Vendor-06/13/2023

Ready for Review-Please be advised that STR rider includes in all investment files by default. Please consider long-term lease. - Seller-06/13/2023

Open-Deed of trust has a Short Term RIder but subject all units have long term leases. - Due Diligence Vendor-06/06/2023

Ready for Review-Please be advised that STR rider includes in all investment files by default. Please consider long-term lease. - Seller-06/13/2023

Resolved-lender addressed riders - Due Diligence Vendor-06/13/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

996256

XXXXXXX-2023-NQM4-39

Closed

FCRE1194

2023-06-06 15:49

2023-06-13 08:00

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Waiver for LTV to go to [redacted] - Due Diligence Vendor-06/13/2023

Open-LTV > [redacted] & Mixed Use property
Comments Hello Credit Committee this exception is for a rate and term refinance on an investment property that is mixed
use with 3 units and 1 unit being used as a church or for prayer also we are looking to go to a max of [redacted] LTV
on refinance. Please consider this exception for strong credit and the property - Due Diligence Vendor-06/06/2023

Waived-Waiver for LTV to go to [redacted] - Due Diligence Vendor-06/13/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months
page 349

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

996254

XXXXXXX-2023-NQM4-39

Closed

FVAL9739

2023-06-06 15:50

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-1025 over 71A
Comments Hello Credit committee, this exception is to use the attached apprasial which is a 1025 over a 71A that is
required per our guidelines. All 3 units have the same capabilites of a living space and AVM came in higher
than the apprasierd value. - Due Diligence Vendor-06/06/2023

Several income sources and DTI below 45%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+
years credit history
page 350

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

996255

XXXXXXX-2023-NQM4-40

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-41

Closed

FCRE9991

2023-06-05 07:08

2023-06-15 13:53

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-lender addressed. - Due Diligence Vendor-06/15/2023

Ready for Review-Excluded from DTI as its being withdrawn from business acount each month - Seller-06/15/2023

Open-DTI is 41.79 (Lender didnt include the mortgage for rental property exiting at $1081/ mo and the [redacted] payment of $1025/mo) - Due Diligence Vendor-06/05/2023

Ready for Review-Excluded from DTI as its being withdrawn from business acount each month - Seller-06/15/2023

Resolved-lender addressed. - Due Diligence Vendor-06/15/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

992957

XXXXXXX-2023-NQM4-42

Closed

FCRE9806

2023-06-09 13:20

2023-07-31 13:24

Resolved

1 - Information

Credit

Eligibility

Other Credit Finding

Resolved-Soft pull has account off the credit report - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Please see Soft pull credit in attachment - Seller-07/31/2023

Open-There is an open Mortgage : Need proof of paid off. [redacted]. Final 1003 states this property sold but missing proof - Due Diligence Vendor-06/09/2023

Ready for Review-Document Uploaded. Please see Soft pull credit in attachment - Seller-07/31/2023

Resolved-Soft pull has account off the credit report - Due Diligence Vendor-07/31/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1001400

XXXXXXX-2023-NQM4-42

Closed

FCRE8705

2023-06-07 10:59

Waived

2 - Non-Material

Credit

Eligibility

Excessive Seller Contributions

Waived-Exception Type Material: Assets

Short Description Request higher seller concessions
ents
Requesting to use more than standard seller concessions. Borrowers need $10,300(6.27%) seller concessions. If we cannot use this amount, the file is dead. Solid borrowers, solid credit and history. Experienced investors with multiple properties. Thank you for your consideration.

Exception page# 685 of 686

- Due Diligence Vendor-06/07/2023

Experienced investor with 2+ investment properties, 2+ borrowers on the loan, Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Reserves>6 months (ineligible for Foreign Nationals)
12+ months reserves available.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

997299

XXXXXXX-2023-NQM4-42

Closed

FVAL9739

2023-06-07 10:57

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type Material: Assets
Short Description Condition from [redacted] for condo Questionnaire
Comments
Request to waive requirement for having [redacted] of units sold to clear condition by [redacted]. File was submitted as non-warrantable and [redacted] allows for non-warrantable condo's. Solid borrowers, solid credit and history. Experienced investors with multiple properties. Thank you for your consideration.

Exception page# 686
- Due Diligence Vendor-06/07/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

997298

XXXXXXX-2023-NQM4-43

Closed

FVAL9739

2023-06-07 13:35

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :- Material: Appraisal, Loan Amount
Short Description :- No Flip Requirements - Use purchase price with no documented improvements
Comments :- Hello credit committee this house was purchased by the seller back in august of 2022 for $[redacted] and
currently is being sold for $[redacted] technically this is considered a flip transaction due to the increase in
purchase price but the our AVM actually came in higher than the value therefore we are within in guidelines of
varience. Please consider this exception as I have attached the apprasial credit report and avm. Thank you
Exception form available on page no 373 of 374 - Due Diligence Vendor-06/07/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

997662

XXXXXXX-2023-NQM4-44

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-45

Closed

FCRE1491

2023-06-07 07:09

2023-07-24 10:08

Resolved

1 - Information

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Resolved-Gift letter received and clears finding - Due Diligence Vendor-07/24/2023

Rescinded- - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Please see the UW's response and Gift Letter attached - Seller-07/21/2023

Counter-Disagree. We have $110100 verified (see page 240). Unclear where you are arriving at $115561.93. There is a statement in file for [redacted] on page 67 but only 1 month. Also there is an April [redacted] statement in the account holder name of [redacted], but not sure who owns that and only 1 month there too. We either need a full 2 months for [redacted] to support remaining money or proof borrower is owner of [redacted], plus an additional month to cover reserves, or terms of 401k withdraw. note the final 1003 only states borrower has $110100 which matches what we verified. - Due Diligence Vendor-07/13/2023

Ready for Review-Document Uploaded. Please see the UW's response - Seller-07/12/2023

Open-Asset Qualification Does Not Meet Guideline Requirements terms of withdrawal for 401k needed. this account was used for reserves - Due Diligence Vendor-06/07/2023

Ready for Review-Document Uploaded. Please see the UW's response and Gift Letter attached - Seller-07/21/2023

Ready for Review-Document Uploaded. Please see the UW's response - Seller-07/12/2023

Resolved-Gift letter received and clears finding - Due Diligence Vendor-07/24/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

996777

XXXXXXX-2023-NQM4-45

Closed

FCRE1166

2023-06-07 07:04

2023-07-13 08:09

Resolved

1 - Information

Credit

Insurance

Hazard Insurance Coverage is less than all Subject Lien(s)

Resolved-policy is replacement cost - Due Diligence Vendor-07/13/2023

Ready for Review-Document Uploaded. Please refer to p. 407 of the Credit Package uploaded to the portal. This is a processor certification stating that the policy is a replacement cost. - Seller-07/12/2023

Open-Hazard Insurance Coverage Amount of $424000 is less than Total Amount of Subject Lien(s) of $[redacted] need to state 100% replacement cost, guaranteed replacement cost or provide cost estimate - Due Diligence Vendor-06/07/2023

Ready for Review-Document Uploaded. Please refer to p. 407 of the Credit Package uploaded to the portal. This is a processor certification stating that the policy is a replacement cost. - Seller-07/12/2023

Resolved-policy is replacement cost - Due Diligence Vendor-07/13/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

996766

XXXXXXX-2023-NQM4-46

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-47

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-48

Closed

FCRE1194

2023-06-09 13:02

2023-06-28 07:02

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Accept LTV of [redacted] for the property acquired between 6-12 months
- Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Please find Exception attached - Seller-06/27/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Property acquired is between 6-12 months. Per guideline the LTV will be calculated using Appraisal Value or the prior Purchase Price + any improvements(There is no proof found) .
Here, the prior Purchase price was less $[redacted] so, the LTV is [redacted] and the max LTV is [redacted] as this is a cash out>Limited Condo review - Due Diligence Vendor-06/09/2023

Ready for Review-Document Uploaded. Please find Exception attached - Seller-06/27/2023

Waived-Accept LTV of [redacted] for the property acquired between 6-12 months
- Due Diligence Vendor-06/28/2023

Compensating Factors
Revolving debt is under 30%, No mortgage late payments in last 24 months, 5+ years credit history

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

1001362

XXXXXXX-2023-NQM4-49

Closed

FVAL9739

2023-06-08 10:20

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type Material: Appraisal, Credit
Short Description No standard tradelines & ineligible property type
Comments
Hi team, can we please get an exception as the acreage exceeds 10 acres? And we will also need an exception on the tradelines as they are not standard

Exception Form page# 224 of 224 - Due Diligence Vendor-06/08/2023

LTV 10% below maximum, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

999132

XXXXXXX-2023-NQM4-49

Closed

FCRE1493

2023-06-08 10:20

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

999129

XXXXXXX-2023-NQM4-50

Closed

FCRE1526

2023-06-08 10:21

2023-06-20 08:41

Waived

2 - Non-Material

Credit

QM-ATR

Tri-merged Credit Report unavailable due to credit bureaus identified as "frozen"

Waived-waiver for 1 bureau with frozen credit score - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please, find the formal exception attached. Thank you! - Seller-06/20/2023

Open-Provided credit report in file frozen by [redacted] page #134
Note - Per guideline - Credit reports with bureaus identified as "frozen" are required to be unfrozen and a current credit report with all bureaus unfrozen is required. - Due Diligence Vendor-06/08/2023

Ready for Review-Document Uploaded. Please, find the formal exception attached. Thank you! - Seller-06/20/2023

Waived-waiver for 1 bureau with frozen credit score - Due Diligence Vendor-06/20/2023

LTV 10% below maximum, No mortgage late payments in last 24 months, 5+ years credit history, Other: specify below
DSCR ratio => 1.1

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Post-Close

Yes

999133

XXXXXXX-2023-NQM4-51

Closed

FCRE8611

2023-06-08 16:48

2023-06-27 08:51

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-proof he owns business at 100% received. - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. Please, find the documentation associated with LLC. The borrower is the only owner of the company. Thank you! - Seller-06/27/2023

Counter-Disagree. Bank statements are not personal they are in [redacted] name. Also the docs on page 369 only show registered agent, does not provide % of ownership for business. This finding is valid. - Due Diligence Vendor-06/20/2023

Ready for Review-As per the UW, the borrower used personal BS to qualify for income and the % ownership is not required in this case. There is a certificate of status of the LLC merged with [redacted]_Complete Credit pkg, pp.369-370, showing the borrower is an authorized member and a manager. Per the GL, it is sufficient. Thank you! - Seller-06/20/2023

Open-% of ownership of business is missing. need proof of percentage of ownership. - Due Diligence Vendor-06/08/2023

Ready for Review-Document Uploaded. Please, find the documentation associated with LLC. The borrower is the only owner of the company. Thank you! - Seller-06/27/2023

Ready for Review-As per the UW, the borrower used personal BS to qualify for income and the % ownership is not required in this case. There is a certificate of status of the LLC merged with [redacted]_Complete Credit pkg, pp.369-370, showing the borrower is an authorized member and a manager. Per the GL, it is sufficient. Thank you! - Seller-06/20/2023

Resolved-proof he owns business at 100% received. - Due Diligence Vendor-06/27/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

999953

XXXXXXX-2023-NQM4-52

Closed

FCRE8705

2023-06-06 12:29

Waived

2 - Non-Material

Credit

Eligibility

Excessive Seller Contributions

Waived-Exception found on page 580

Permit 6% Seller Concession on [redacted] PUD Primary Purchase New Construction

Approved with conditions of +0.25 to the rate, CUW value review required - Due Diligence Vendor-06/06/2023

No credit events past 48 months, Credit score >40 points than minimum required, borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

995802

XXXXXXX-2023-NQM4-53

Closed

FCRE8611

2023-06-07 14:08

2023-06-07 14:09

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Closed & Open bank account
incoem bank account was closed and another reopened -12 month bank statement program, borrower closed account and opened another. 10 months with one account, 2 months from the
other
- Due Diligence Vendor-06/07/2023

Compensating Factors
Several income sources and DTI below 45%, 5 years on current job, 2+ borrowers on the loan

page 191

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

997739

XXXXXXX-2023-NQM4-54

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-55

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-56

Closed

finding-3540

2023-06-07 10:33

2023-07-07 11:39

Resolved

1 - Information

Compliance

TRID

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

Resolved-received proof of delivery - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. eSign Certificate provided - Seller-07/06/2023

Open-Provide evidence that Revised Closing Disclosure issues on 05/30/2023 was sent electronically - Due Diligence Vendor-06/07/2023

Ready for Review-Document Uploaded. eSign Certificate provided - Seller-07/06/2023

Resolved-received proof of delivery - Due Diligence Vendor-07/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

997262

XXXXXXX-2023-NQM4-57

Closed

FVAL9739

2023-06-10 13:45

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type Material: Title
Short Description Single entity owns 79 units out of 112 (70,5%)

Exception form page # 393 of 393

- Due Diligence Vendor-06/10/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1001863

XXXXXXX-2023-NQM4-58

Closed

FVAL5474

2023-06-07 08:54

Waived

2 - Non-Material

Property

Condo project is ineligible

Waived-Exception on page 363

There is a pending litigation to complete the repairs on Subject phase common area for defects relate primarily to the installation of stucco and stone. The repair work has not been completed at this time. The repairs are expected to be completed after the litigation is resolved through settlement or judgment, which will take approximately six to fourteen months. Exception is required repairs won't be completed before our closing date.

Approved with conditions of 0.25 to the rate, CUW value review required - Due Diligence Vendor-06/07/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, LTV 10% below maximum,
Credit score >40 points than minimum required

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

997038

XXXXXXX-2023-NQM4-59

Closed

FCRE1194

2023-06-07 13:19

2023-06-07 13:26

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Document Uploaded. Exception (page 152 of 154) requesting higher LTV for Rural property at 11.8 acres that does not currently meet guidelines. Approved with conditions to add 1 to the Rate on top of Rural Pricing and [redacted] LTV max. - Due Diligence Vendor-06/07/2023

Revolving debt is under 30%, 5 years on current job, No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months, Credit score >40 points than minimum required

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

997619

XXXXXXX-2023-NQM4-60

Closed

FVAL9739

2023-06-09 13:09

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Short term rental in [redacted] & use of AirDNA while we have 1007 with standard rent calculation. Resubmission of attached exception form to update back to corrected loan amount / LTV (now that DSCR is
back above 1.0). Approved with conditions to add 0.25 in Price, DSCR>=1.3 required -- only in[redacted] - Due Diligence Vendor-06/09/2023

Waived-Short term rental in[redacted] & use of [redacted] while we have 1007 with standard rent calculation. Resubmission of attached exception form to update back to corrected loan amount / LTV (now that DSCR is
back above 1.0). Approved with conditions to add 0.25 in Price, DSCR>=1.3 required -- only in[redacted] County - Due Diligence Vendor-06/09/2023

DSCR=> 1.3 , Experienced investor with 2+ investment properties, 2+ borrowers on the loan, Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

1001380

XXXXXXX-2023-NQM4-61

Closed

FCRE1316

2023-06-19 07:59

2023-06-21 09:41

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 3rd Party VOE Prior to Close Missing

Resolved-received CPA letter dated within 10 days - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Please find attached - Seller-06/21/2023

Open-Could not locate VOE in PDF - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. Please find attached - Seller-06/21/2023

Resolved-received CPA letter dated within 10 days - Due Diligence Vendor-06/21/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1011493

XXXXXXX-2023-NQM4-62

Closed

FPRO116

2023-08-30 14:57

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Transferred appraisal and unable to get updated for the property owner to match the title exactly. Request
exception to waive.
Comments File otherwise almost ready for final and in a rush to close and keep file from competition. Credit, appraisal,
and email from broker attached.
- Due Diligence Vendor-08/30/2023

Compensating Factors
No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments
in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1135636

XXXXXXX-2023-NQM4-62

Closed

FCRE1194

2023-06-12 10:06

2023-06-12 10:08

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Document Uploaded. Exception (page 208-2) to keep LTV at [redacted] with DSCR 0.75 - .099 to keep mortgage from [redacted] Mortgage. This is a SFR Rural property. Approved with conditions to add 0.75 in Price with DSCR>0.85 required. - Due Diligence Vendor-06/12/2023

Waived-Document Uploaded. Exception (page 208-2) to keep LTV at [redacted] with DSCR 0.75 - .099 to keep mortgage from Solve Mortgage. This is a SFR Rural property. Approved with conditions to add 0.75 in Price with DSCR>0.85 required. - Due Diligence Vendor-06/12/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1002903

XXXXXXX-2023-NQM4-63

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-64

Closed

FVAL4036

2023-06-12 15:23

2023-06-13 09:49

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Exception Type:- Material: Appraisal
Short Description:- Flip/doc improvements with appraisal cost approach Appraisal indicated property is a flip, purchased by seller for [redacted] on 10/2022. Pictures confirm property was clearly newly renovated all around. Flip guidelines are to use the purchase price + documented cost of improvements by seller. Appraisal documents in the cost approach the cost of improvements of[redacted] of site improvements. . Requesting to use the values on the appraisal cost approach for use in determining the flip value, as obtaining this information from sellers in general is very difficult and not customarily provided in most any case. Using the cost approach values will allow us to facilitate this requirement with documentation in hand and avoid having to flip to conventional with no flip rule. which the borrower was DU approved for but wants to close in an LLC. Current [redacted] client with perfect payment history on multiple loans. request to proceed as is...thanks
Exception form is on Page no 228 of 236 - Due Diligence Vendor-06/12/2023

Waived-Exception Type:- Material: Appraisal
Short Description:- Flip/doc improvements with appraisal cost approach Appraisal indicated property is a flip, purchased by seller for [redacted] on 10/2022. Pictures confirm property was clearly newly renovated all around. Flip guidelines are to use the purchase price + documented cost of improvements by seller. Appraisal documents in the cost approach the cost of improvements of $[redacted] of site improvements. . Requesting to use the values on the appraisal cost approach for use in determining the flip value, as obtaining this information from sellers in general is very difficult and not customarily provided in most any case. Using the cost approach values will allow us to facilitate this requirement with documentation in hand and avoid having to flip to conventional with no flip rule. which the borrower was DU approved for but wants to close in an LLC. Current [redacted] client with perfect payment history on multiple loans. request to proceed as is...thanks
Exception form is on Page no 228 of 236 - Due Diligence Vendor-06/12/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, Credit score >40 points than
minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1003626

XXXXXXX-2023-NQM4-65

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-66

Closed

FPRO1244

2023-06-11 07:49

2023-07-07 11:41

Resolved

1 - Information

Property

Missing Doc

3rd Party Valuation Product is Required and Missing

Resolved-AVM supports - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Please see AVM in attachment - Seller-07/06/2023

Open-NAL transaction requires a third party value product. Gift of Equity with recent Flip. - Due Diligence Vendor-06/11/2023

Ready for Review-Document Uploaded. Please see AVM in attachment - Seller-07/06/2023

Resolved-AVM supports - Due Diligence Vendor-07/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1001907

XXXXXXX-2023-NQM4-66

Closed

FVAL4036

2023-06-11 08:03

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Page 274. Lender approved to use appraised value. NAL transaction - Seller purchased and rehabbed property in 01/2023 for [redacted] improvements per appraiser. - Due Diligence Vendor-06/11/2023

DTI > 10% below program maximum, 5 yr credit history, Residual Income > $3K.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1001908

XXXXXXX-2023-NQM4-67

Closed

FPRO116

2023-06-07 08:57

2023-06-29 08:40

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Waiver to accept property with separate units less than 500 sq ft - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Please find Exception form attached - Seller-06/28/2023

Counter-Disagree. Our interpretation is square fee is based on "living" unit. Tenants in units 1 and 2 do not have access to the entire 1617 sq, they have their own specific dwelling and that living space is less than 500 sq ft. - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please find response from our Appraisal Department attached - Seller-06/16/2023

Open-Unit 1 and 2 are less than 350 sq ft. Page 65 guidelines says Gross living area < 500 square feet are ineligible - Due Diligence Vendor-06/07/2023

Ready for Review-Document Uploaded. Please find Exception form attached - Seller-06/28/2023

Ready for Review-Document Uploaded. Please find response from our Appraisal Department attached - Seller-06/16/2023

Waived-Waiver to accept property with separate units less than 500 sq ft - Due Diligence Vendor-06/29/2023

Revolving debt is under 30%, 5+ years credit history, Borrower contribution exceeds requirement >=5%, Reserves>6 months

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

997046

XXXXXXX-2023-NQM4-68

Closed

finding-3526

2023-06-07 16:29

2023-06-15 14:04

Resolved

1 - Information

Compliance

TRID

Revised Loan Estimate Delivery Date Test (prior to consummation)

Resolved-electronic proof received - Due Diligence Vendor-06/15/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/15/2023

Open-provide evidence that Revised Loan Estimate issued on 05/30/2023 was sent electronically. - Due Diligence Vendor-06/07/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/15/2023

Resolved-electronic proof received - Due Diligence Vendor-06/15/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

997971

XXXXXXX-2023-NQM4-69

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-70

Closed

FCRE1501

2023-06-16 15:01

2023-07-24 10:11

Waived

2 - Non-Material

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Waived-Exception granted: Borrower's assets, PITIA Reserves - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-07/24/2023

Open-Total Qualified Assets for Reserves Post-Close of $7221.83 is less than Total Required Reserve Amount of $9563.91, short $2342.08. Audited Reserves of 2.27 month(s) are less than Guideline Required Reserves of 3 month(s). - Due Diligence Vendor-06/16/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-07/24/2023

Waived-Exception granted: Borrower's assets, PITIA Reserves - Due Diligence Vendor-07/24/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, Credit score >40 points than
minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1010808

XXXXXXX-2023-NQM4-70

Closed

FCRE9802

2023-06-12 15:34

2023-06-12 15:35

Waived

2 - Non-Material

Credit

Eligibility

Borrower is First Time Homebuyer and Program Does Not Allow This

Waived-Borrower cannot be first time homebuyer for this program Document Uploaded. Exception (page 508 credit) Borrower owns no real estate under this DSCR program. Approved with conditions to add 1 in Price, DSCR>1 required, full CUW value review required. - Due Diligence Vendor-06/12/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1003635

XXXXXXX-2023-NQM4-71

Closed

FPRO116

2023-06-11 09:48

2023-06-11 09:50

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Appraisal transferred twice prior to [redacted] + HOA deductible is 7.5% which exceeds the 5% permitted. Exception page 576, 577 - Due Diligence Vendor-06/11/2023

LTV > 10% below program maximum, Bwr contribution exceeds 5%, Residual income >$3K.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1001914

XXXXXXX-2023-NQM4-72

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-73

Closed

FCRE8611

2023-06-13 06:58

2023-07-07 11:55

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-dated copy present - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Please find attached - Seller-07/06/2023

Open-P&L is not dated - Due Diligence Vendor-06/13/2023

Ready for Review-Document Uploaded. Please find attached - Seller-07/06/2023

Resolved-dated copy present - Due Diligence Vendor-07/07/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1004220

XXXXXXX-2023-NQM4-74

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-75

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-76

Closed

FVAL4036

2023-06-13 08:26

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Exception Page 265 approved without 2nd appraisal required. Property was inherited by seller within the last 180 days. No prior sale activity. - Due Diligence Vendor-06/13/2023

5+ yrs current job, No credit events past 48 months, No consumer lates last 24 months.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1004408

XXXXXXX-2023-NQM4-77

Closed

FVAL9739

2023-06-08 08:33

2023-06-16 13:44

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception on page 453

It is critical for the borrower to use the appraised value of the property because if the purchase price is used, it
would kill the loan (LTV, DSCR)

Approved with conditions : +0.25 to price, 78% ltv max, DSCR>=1, min 3Y PPP, 6 months reserves required - Due Diligence Vendor-06/08/2023

Experienced investor with 2+ investment properties, Revolving debt is under 30%, 5 years on current job, Residual income >=$3000,
No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months,
Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

998780

XXXXXXX-2023-NQM4-78

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-79

Closed

FCRE1194

2023-06-12 11:10

2023-06-20 10:07

Resolved

1 - Information

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Resolved-Unable to Resolve-agreed. this is delayed financing. - Due Diligence Vendor-06/20/2023

Ready for Review-Files with delayed financing are underwritten under purchase guidelines and eligibility; however, such loans will be priced as a cash-out (GL- CASH-OUT SEASONING AND DETERMINATION OF VALUE). [redacted] LTV is eligible - Seller-06/16/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Max cash out DSCR is [redacted] - Due Diligence Vendor-06/15/2023

Ready for Review-Files with delayed financing are underwritten under purchase guidelines and eligibility; however, such loans will be priced as a cash-out (GL- CASH-OUT SEASONING AND DETERMINATION OF VALUE). [redacted] LTV is eligible - Seller-06/16/2023

Resolved-Unable to Resolve-agreed. this is delayed financing. - Due Diligence Vendor-06/20/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1003050

XXXXXXX-2023-NQM4-80

Closed

FCRE1492

2023-06-15 09:56

Waived

2 - Non-Material

Credit

Assets

Cash Out Does Not Meet Guideline Requirements

Waived-Exception on page 623

Please approve this as Cash out can be used as reserves in addition to the previous Approved Exception See attached TYSM

Approved with conditions of 0.125 to the rate - Due Diligence Vendor-06/15/2023

DTI >=10% lower than loan program, 5+ years credit history, LTV 10% below maximum
GREAT LTV , DTI NO Risk Loan

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1008437

XXXXXXX-2023-NQM4-80

Closed

FCRE2515

2023-06-15 09:54

Waived

2 - Non-Material

Credit

Eligibility

Credit history does not meet guidelines

Waived-Exception on page 622

Borrower is 1 month short of 12 months NO Credit event Loan mod took place on 5/1/2022 also 5 NSF , 4 of those were credited by the bank due to an error Please approve with changing the program to [redacted] and No hi Low LTV & DTI Great file Broker is Pref.

Approved with conditions of Counter to [redacted], max LTV 40, +0.375 to the rate - Due Diligence Vendor-06/15/2023

Revolving debt is under 30%, DTI >=10% lower than loan program, LTV 10% below maximum

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1008435

XXXXXXX-2023-NQM4-81

Closed

FCRE1198

2023-06-08 10:40

2023-07-24 10:21

Waived

2 - Non-Material

Credit

Eligibility

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

Waived- - Due Diligence Vendor-07/24/2023

Ready for Review-Exception granted: Borrower's assets, PITIA Reserves - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-07/24/2023

Open-Audited Reserves of 2.75 month(s) are less than Guideline Required Reserves of 3 month(s) - Due Diligence Vendor-06/08/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-07/24/2023

Several income sources and DTI below 45%, Residual income >=$3000, DTI >=10% lower than loan program, No credit events past
48 months, No mortgage late payments in last 24 months, Borrower contribution exceeds requirement >=5%

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

999179

XXXXXXX-2023-NQM4-81

Closed

FCRE1501

2023-06-08 10:29

2023-07-24 10:20

Waived

2 - Non-Material

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Waived-Exception granted: Borrower's assets, PITIA Reserves
- Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-07/24/2023

Open-Total Qualified Assets for Reserves Post-Close of $30958.33 is less than Total Required Reserve Amount of $33789.6 Not enough assets provided in PDF. 1003 Confirms lesser amount - Due Diligence Vendor-06/08/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-07/24/2023

Waived-Exception granted: Borrower's assets, PITIA Reserves
- Due Diligence Vendor-07/24/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

999153

XXXXXXX-2023-NQM4-81

Closed

FCRE1194

2023-06-08 10:40

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Exception on page 758

60 acres rural at 15% down payment
Hello, attached above is the appraisal and borrowers credit report. Applying with 12 months of bank
statements. Property is 60 acres and borrower can only do 15% down. Thank you. This is the property
- https://www.zillow.com/homedetails/[redacted]

Approved with conditions of + 0.625 to the rate, CUW value review required. - Due Diligence Vendor-06/08/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

999178

XXXXXXX-2023-NQM4-82

Closed

FPRO116

2023-06-12 08:27

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-HOA deductible is 7% > than the 5% allowable. Additionally, two partial credit payments on an auto co signed debt had partial payments in 05/20022 and 12/2022. Bwr does not make the payments. Lender approved Exception page 760. - Due Diligence Vendor-06/12/2023

No credit events past 48 months, No mortgage lates last 24 months, 5+ yr credit history.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1002630

XXXXXXX-2023-NQM4-83

Closed

FCRE1316

2023-06-13 14:29

2023-06-21 10:08

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 3rd Party VOE Prior to Close Missing

Resolved-VVOE now present - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Please find attached - Seller-06/21/2023

Open- - Due Diligence Vendor-06/13/2023

Ready for Review-Document Uploaded. Please find attached - Seller-06/21/2023

Resolved-VVOE now present - Due Diligence Vendor-06/21/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1005200

XXXXXXX-2023-NQM4-83

Closed

FCRE1157

2023-06-13 13:56

2023-06-20 10:11

Resolved

1 - Information

Credit

Missing Doc

Hazard Insurance Policy is Missing

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please find attached. - Seller-06/20/2023

Open-Missing Hazard Insurance Policy - Due Diligence Vendor-06/13/2023

Ready for Review-Document Uploaded. Please find attached. - Seller-06/20/2023

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-06/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1005121

XXXXXXX-2023-NQM4-84

Closed

FCRE1437

2023-06-08 12:18

Waived

2 - Non-Material

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Waived-Exception on page 521

Changed from Sole Proprietor to LLC this year
Borrower does not have 12 months bank statement from[redacted]. Borrower change business from a sole prop to a LLC and that is why we now have business bank statements instead of personal statements

Approved with conditions +0.25 to the rate, max DTI 34,7, max LTV 70 - Due Diligence Vendor-06/08/2023

Waived-Exception on page 521

Changed from Sole Proprietor to LLC this year
Borrower does not have 12 months bank statement from [redacted] account of [redacted]. Borrower change business from a sole prop to a LLC and that is why we now have business bank statements instead of personal statements

Approved with conditions +0.25 to the rate, max DTI 34,7, max LTV 70 - Due Diligence Vendor-06/08/2023

DTI >=10% lower than loan program, No credit events past 48 months, LTV 10% below maximum, Credit score >40 points than
minimum required

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

999446

XXXXXXX-2023-NQM4-84

Closed

FCRE1174

2023-06-08 12:16

Waived

2 - Non-Material

Credit

Missing Doc

Master Condo Insurance Policy is Partial

Waived-Exception on page 520

Condos Hurricane Master Policy has 10% deductibles.

Approved with conditions of +0.25 to the rate, [redacted] ltv max - Due Diligence Vendor-06/08/2023

DTI >=10% lower than loan program, No credit events past 48 months, LTV 10% below maximum, Credit score >40 points than minimum required

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

999442

XXXXXXX-2023-NQM4-85

Closed

FCRE8611

2023-06-13 12:21

2023-06-13 12:22

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Exception Type Material: Income

Short Description
Per underwriter: Approved exception form required for the following: Borrower amended 2021 returns for additional income in Feb 2023

Exception Form page# 417 of 421
- Due Diligence Vendor-06/13/2023

Revolving debt is under 30%, No credit events past 48 months, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1004903

XXXXXXX-2023-NQM4-85

Closed

FVAL9739

2023-06-13 12:21

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type Material: Appraisal
Short Description 1 person owns 26 out of 106 units.

Exception form: Page 416 of 421 - Due Diligence Vendor-06/13/2023

Revolving debt is under 30%, No credit events past 48 months, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1004902

XXXXXXX-2023-NQM4-86

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-87

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-88

Closed

FCRE1194

2023-06-13 13:56

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception Type Material: LTV--[redacted] LTV requested--Hello! The appraisal came in with higher value than initially estimated. However, the monthly rent was low, and the DSCR is <0.75. Asking for an approval to proceed with [redacted] LTV with low DSCR ratio. Please, advise.
Thank you!
(Exception form present on page#108 of 215) - Due Diligence Vendor-06/13/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than
minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1005120

XXXXXXX-2023-NQM4-89

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-90

Closed

FVAL4036

2023-06-13 13:22

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Exception Type:- Material: Appraisal
Short Description:- Go with appraised value even though it's a flip transaction
Dear Team,It's a flip transaction with $[redacted] initial purchase price. The property has undergone some
renovations and expected appraised value is $[redacted](inspection is in progress). Could you please consider
going with appraised value for LTV and Loan Amount? As you see, it's an excellent borrower with great scores.
The broker has another lender they can make this work with and use appraised value only. Appreciate your
help. Thank you. Best Regards, [redacted]
Page no 57 of 154 - Due Diligence Vendor-06/13/2023

Waived-Exception Type:- Material: Appraisal
Short Description:- Go with appraised value even though it's a flip transaction
Dear Team,It's a flip transaction with $[redacted] initial purchase price. The property has undergone some
renovations and expected appraised value is $[redacted] (inspection is in progress). Could you please consider
going with appraised value for LTV and Loan Amount? As you see, it's an excellent borrower with great scores.
The broker has another lender they can make this work with and use appraised value only. Appreciate your
help. Thank you. Best Regards, [redacted]
Page no 57 of 154 - Due Diligence Vendor-06/13/2023

Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit
history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Borrower contribution
exceeds requirement >=5%
Revolving debt is under 30%, Borrower contribution exceeds requirement >=5%
borrower is looking to do more investment loans with us in the future

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1005042

XXXXXXX-2023-NQM4-91

Closed

FCRE1194

2023-06-13 16:20

2023-06-19 15:06

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception Type :- Material: LTV
Short Description :- [redacted] LTV with DSCR just below 0.75 (between 0.70 - 0.75).
Exception form available on page no 365 of 367 - Due Diligence Vendor-06/13/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1005369

XXXXXXX-2023-NQM4-92

Closed

FVAL9739

2023-06-13 17:09

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type Material: Appraisal, LTV--assisted living property + [redacted]LTV--Hi team, This broker has run some assisted living on exceptional basis with [redacted] who used to be our AE. The broker is back with a new assisted living loan to submit. We are capped at [redacted] LTV and the borrower can only put 25% down so basically we need 2 excpetions at the same time. I've attached the previous approved exception form for your reference. Please approve, thank you.
(Exception form present on page#276 of Complete Credit pkg.pdf)

- Due Diligence Vendor-06/13/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months,
5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1005405

XXXXXXX-2023-NQM4-93

Closed

FCRE5116

2023-06-16 11:19

2023-06-27 07:21

Resolved

1 - Information

Credit

Missing Doc

Missing VOM or VOR

Resolved-lender addressed and provided 4 acct statements (new mtg) - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. Please, be advised that the borrower purchased the property on 10/31/22. Hence first payment was due on 01/01/23 which is verified on provided mortgage statement. Also, we have attached a mortgage statement that verifies the mortgage payment was paid on time till 05/23. The statements were merged with Complete Credit pkg.pdf, pp.192-197 and 201-210. The docs are attached for your convenience. Thank you! - Seller-06/27/2023

Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Need VOM for[redacted] - Due Diligence Vendor-06/16/2023

Ready for Review-Document Uploaded. Please, be advised that the borrower purchased the property on 10/31/22. Hence first payment was due on 01/01/23 which is verified on provided mortgage statement. Also, we have attached a mortgage statement that verifies the mortgage payment was paid on time till 05/23. The statements were merged with Complete Credit pkg.pdf, pp.192-197 and 201-210. The docs are attached for your convenience. Thank you! - Seller-06/27/2023

Resolved-lender addressed and provided 4 acct statements (new mtg) - Due Diligence Vendor-06/27/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1010307

XXXXXXX-2023-NQM4-93

Closed

FCRE9991

2023-06-16 11:20

2023-06-27 07:19

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-lender provide the accurate payments not reflected on final 1003 and DTI is now line.  The PI payment for primary was missing - Due Diligence Vendor-06/27/2023

Open-DTI does not match.  Used [redacted] for primary, [redacted] (net loss using $4000 from 1007-PITIA) subject and all debts from credit are [redacted]= 6189.80  Income is [redacted]= 26.68%.  Lender 1008 does not match final 1003.  need tape updated - Due Diligence Vendor-06/26/2023

Counter-Not using the rents but using the actual Payment of [redacted] puts DTI to 59%.  Need tape updated to figures below.  - Due Diligence Vendor-06/23/2023

Ready for Review-Document Uploaded. Please, find the VOM on the subject property merged with Complete credit pkg.pdf, pp. 223-224 of 452. The monthly pmt is[redacted]. The calculated DTI is 49.745%. The letter and pmt history is attached for your convenience. Thank you! - Seller-06/23/2023

Ready for Review-Document Uploaded. Please, find the VOM on the subject property merged with Complete credit pkg.pdf, pp. 223-224 of 452. The monthly pmt is [redacted]. The calculated DTI is 49.745%. The letter and pmt history is attached for your convenience. Thank you! - Seller-06/23/2023

Resolved-lender provide the accurate payments not reflected on final 1003 and DTI is now line. The PI payment for primary was missing - Due Diligence Vendor-06/27/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1010310

XXXXXXX-2023-NQM4-93

Closed

FPRO116

2023-06-16 11:57

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Appraisal condition
Comments Requesting to waive comparable sale 3 exceeding new construction guidelines. This is to clear last condition
for CTC. Solid borrower, solid history and credit - Due Diligence Vendor-06/16/2023

Several income sources and DTI below 45%, Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, DTI
>=10% lower than loan program, 10 years or more in same line of employment, No credit events past 48 months, No mortgage late
payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than
minimum required
page 451 452

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1010379

XXXXXXX-2023-NQM4-93

Closed

FCRE1194

2023-06-16 11:56

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Request to keep at [redacted] LTV
Comments As per condition, and speaking to credit committee, Ryan and Ben, needed to rerun first exception request.
Requesting to keep file at [redacted] LTV due to present land use over 50% vacant. Allow property to be considered
suburban and not rural. - Due Diligence Vendor-06/16/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1010374

XXXXXXX-2023-NQM4-94

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-95

Closed

FVAL9739

2023-06-14 13:13

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type
Material: Appraisal
Short Description
"exception to use lower BPO value with appraisal support

Comments
use BPO of [redacted] as a primary valuation source, and use the full 71B appraisal of[redacted] value as a secondary valuation supporting BPO for a multi-family property

Exception page 638 - Due Diligence Vendor-06/14/2023

Waived-Exception Type
Material: Appraisal
Short Description
"exception to use lower BPO value with appraisal support

Comments
use BPO of [redacted] mm as a primary valuation source, and use the full 71B appraisal of [redacted] value as a secondary valuation supporting BPO for a multi-family property

Exception page 638 - Due Diligence Vendor-06/14/2023

DSCR=> 1.3 , Experienced investor with 2+ investment properties, Revolving debt is under 30%, 5 years on current job, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1007014

XXXXXXX-2023-NQM4-96

Closed

FCRE1194

2023-06-09 16:59

2023-06-09 17:02

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Lender granted exception for LTV

see page 520 - Due Diligence Vendor-06/09/2023

DTI >=10% lower than loan program, No credit events past 48 months, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1001696

XXXXXXX-2023-NQM4-97

Closed

FCRE1437

2023-06-10 13:32

Waived

2 - Non-Material

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Waived-Lender granted exception for Borrower does not have 2 years of 1099s for the same company

see page 662 - Due Diligence Vendor-06/10/2023

Revolving debt is under 30%, 10 years or more in same line of employment, Reserves>6 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1001860

XXXXXXX-2023-NQM4-97

Closed

FCRE8611

2023-06-10 13:31

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Lender granted exception for 2022 1099 transcripts do not reflect the borrowers 2022 1099 earnings.

see page 663 - Due Diligence Vendor-06/10/2023

Revolving debt is under 30%, 10 years or more in same line of employment, Reserves>6 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1001859

XXXXXXX-2023-NQM4-98

Closed

FVAL9739

2023-06-12 09:34

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception found pn page 75

Need Exception due to Zoning AG and agricultural residential on appraisal at [redacted]LTV. [redacted] of provide approved exception. ** page 62 of guidelines -[redacted] must view subject a rural. this happens a lot in [redacted], but his is condominium of house, the builder probably never change the classification at the county, but his is not a Agriculture place. Please see attached.

Approved as is - Due Diligence Vendor-06/12/2023

Waived-Exception found pn page 75

Need Exception due to Zoning AG and agricultural residential on appraisal at [redacted]LTV. CofC of provide approved exception. ** page 62 of guidelines -[redacted] must view subject a rural. this happens a lot in [redacted], but his is condominium of house, the builder probably never change the classification at the county, but his is not a Agriculture place. Please see attached.

Approved as is - Due Diligence Vendor-06/12/2023

Revolving debt is under 30%, 5 years on current job, No credit events past 48 months, No mortgage late payments in last 24
months, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1002827

XXXXXXX-2023-NQM4-99

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-100

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-101

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-102

Closed

FPRO1149

2023-06-14 13:58

2023-08-09 08:34

Resolved

1 - Information

Property

Property is Lease Hold

Resolved-corrected appraisal received. - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Sorry! - Seller-08/08/2023

Counter-no documents attached - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. updated Appraisal, reflecting leasehold instead of Fee simple, uploaded - Seller-08/07/2023

Open-Property Rights are Lease Hold Title is reflecting Lease hold with the ground lease proof. $20 monthly is included in the monthly payment (PITI). Appraisal document is reflecting as Fee simple.
Please confirm - Due Diligence Vendor-06/15/2023

Ready for Review-Document Uploaded. Sorry! - Seller-08/08/2023

Ready for Review-Document Uploaded. updated Appraisal, reflecting leasehold instead of Fee simple, uploaded - Seller-08/07/2023

Resolved-corrected appraisal received. - Due Diligence Vendor-08/09/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1007147

XXXXXXX-2023-NQM4-102

Closed

123ABJ

2023-06-14 15:52

2023-06-21 10:11

Resolved

1 - Information

Credit

Missing Doc

Missing VVOE dated within 10 days consummation

Resolved-License received - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. We already had it on the file. Maybe it wasn't merged somehow, please find attached - Seller-06/20/2023

Open-Missing - Third Party Verification for the Mortgage originator business prior to the closing. - Due Diligence Vendor-06/14/2023

Ready for Review-Document Uploaded. We already had it on the file. Maybe it wasn't merged somehow, please find attached - Seller-06/20/2023

Resolved-License received - Due Diligence Vendor-06/21/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1007440

XXXXXXX-2023-NQM4-102

Closed

FCRE1194

2023-06-14 15:03

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception Type Material: LTV--Needs [redacted] LTV with 697 score--Borrowers' credit used to be 725, after last paid debt it decrease to 697. Needs [redacted] LTV. Had a loan with [redacted] before, no mortgage lates.
(Exception form present on page# 192 of 258)

- Due Diligence Vendor-06/14/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments
in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1007339

XXXXXXX-2023-NQM4-103

Closed

FCRE9806

2023-06-13 15:52

2023-06-13 15:53

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Document Uploaded. Exception (page 141-2) requesting waiver of 2X Mortgage lates within last 12 months -- 06/22 and 07/22[redacted] -- approved as is with no conditions. - Due Diligence Vendor-06/13/2023

Waived-Document Uploaded. Exception (page 141-2) requesting waiver of 2X Mortgage lates within last 12 months -- 06/22 and 07/22 [redacted] -- approved as is with no conditions. - Due Diligence Vendor-06/13/2023

No credit events past 48 months, 5+ years credit history, Credit score >40 points than minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1005334

XXXXXXX-2023-NQM4-104

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

XXXXXXX-2023-NQM4-105

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-106

Closed

finding-3542

2023-06-13 14:51

2023-06-22 12:21

Resolved

1 - Information

Compliance

TRID

Revised Closing Disclosure Delivery Date Test (Waiting Period Required) Test

Resolved-received electronic delivery - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. NOT A DEFECT/Evidence that Revised Closing Disclosure issued on 05/31/2023 was sent electronically was provided to DD - Seller-06/22/2023

Open-
provide evidence that Revised Closing Disclosure issued on 05/31/2023 was sent electronically - Due Diligence Vendor-06/13/2023

Ready for Review-Document Uploaded. NOT A DEFECT/Evidence that Revised Closing Disclosure issued on 05/31/2023 was sent electronically was provided to DD - Seller-06/22/2023

Resolved-received electronic delivery - Due Diligence Vendor-06/22/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1005251

XXXXXXX-2023-NQM4-107

Closed

FCRE9991

2023-06-15 10:12

2023-07-31 13:29

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-Updated hoa to include special assessment - Due Diligence Vendor-07/31/2023

Ready for Review-On DSCR ratio calculation we include Special Assessment ($118.81) in PITIA. Rental income is 9000.00*0.75=6750, PITIA is[redacted]  DSCR is 6750/[redacted]=2.037 - Seller-07/31/2023

Counter-please address what you are using for rents and how you calculated it and what you have for PITIA. your DSCR score still not matching 2.11.  I am unable to determine where your score is off.  See calculations in original finding for TPR figures.  - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Please see updated data tape in attachment - Seller-07/07/2023

Counter-Tape is still not correct - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please see updated data tape in attachment - Seller-06/22/2023

Open-Need updated tape DSCR score is 2.11 using  [redacted] ([redacted] [redacted]) ,[redacted]  - Due Diligence Vendor-06/15/2023

Ready for Review-On DSCR ratio calculation we include Special Assessment ($118.81) in PITIA. Rental income is 9000.00*0.75=6750, PITIA is [redacted], DSCR is 6750/[redacted]=2.037 - Seller-07/31/2023

Ready for Review-Document Uploaded. Please see updated data tape in attachment - Seller-07/07/2023

Ready for Review-Document Uploaded. Please see updated data tape in attachment - Seller-06/22/2023

Resolved-Updated hoa to include special assessment - Due Diligence Vendor-07/31/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1008463

XXXXXXX-2023-NQM4-108

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-109

Closed

FCOM1266

2023-06-14 13:05

2023-06-20 10:20

Resolved

1 - Information

Compliance

Missing Doc

Homeownership Counseling Disclosure Is Missing

Resolved-Homeownership Counseling Disclosure Is Present or Not Applicable - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/19/2023

Open-Homeownership Counseling Disclosure Is Missing - Due Diligence Vendor-06/14/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/19/2023

Resolved-Homeownership Counseling Disclosure Is Present or Not Applicable - Due Diligence Vendor-06/20/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1006976

XXXXXXX-2023-NQM4-109

Closed

FVAL9739

2023-06-14 13:29

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Lender granted exception for Appraisal - Title has violation for construction issues, HOA confirmed that there is no issues with the building, they're rebuilding the pool - Due Diligence Vendor-06/14/2023

Several income sources and DTI below 45%, No credit events past 48 months, Credit score >40 points than minimum required

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1007061

XXXXXXX-2023-NQM4-110

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-111

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-112

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-113

Closed

FCRE1194

2023-06-13 12:36

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception on page 54

This exception was already approved for [redacted] LTV using the documentation provided but one of the compensating factors was incorrect so UW wanted the exception form updated. I attached the 1003, credit and the approved exception form. I added on this exception for compensating factor for residual income. .50 was already added to the rate. only change to the form is a different compensating factor. This is all that's needed to get to QC. Thanks

Approved with conditions +0.5 to the rate (no additional hit, form update)
- Due Diligence Vendor-06/13/2023

Residual income >=$3000, No credit events past 48 months, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1004917

XXXXXXX-2023-NQM4-114

Closed

FCRE8611

2023-06-14 08:06

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Asset utilization requires 1.5 x loan amount. Bwr has 1.2 times loan amount. Lender exception page 56. - Due Diligence Vendor-06/14/2023

No credit events past 48 months, 5+ yr credit history, LTV 10% below program maximum.

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1006067

XXXXXXX-2023-NQM4-115

Closed

FCOM1221

2023-06-16 16:11

2023-07-31 14:34

Resolved

1 - Information

Compliance

Missing Doc

The Deed of Trust is Incomplete

Resolved-Document uploaded fixed - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Please find attached  - Seller-07/31/2023

Counter-DOT ok as all docs that had a notary date were notarized on 6/8.  Ok to assume DOT was as well.  Need page 44 fixed though - Due Diligence Vendor-06/21/2023

Open-The Deed of Trust is Incomplete Pg#39 & pg#44 on both the pages Notary date is not mentioned.  - Due Diligence Vendor-06/16/2023

Ready for Review-Document Uploaded. Please find attached - Seller-07/31/2023

Resolved-Document uploaded fixed - Due Diligence Vendor-07/31/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1010893

XXXXXXX-2023-NQM4-115

Closed

FCRE6843

2023-06-16 16:46

2023-06-22 13:04

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-lender addressed and does not consider a gift. - Due Diligence Vendor-06/22/2023

Ready for Review-Since borrower is already listed on that account as an owner, we did not consider this as a gift. We consider this as an intrabank transfer between borrowers one account to another account. - Seller-06/22/2023

Open-There is a large deposit in the borrower's personal account [redacted] dated 05/22/2023 $50,000 this amount had been transferred from borrower's another account [redacted]- verify on pg#137 and borrower is a beneficiary (POD) in that account. Need confirmation if this is a Gift.
- Due Diligence Vendor-06/16/2023

Ready for Review-Since borrower is already listed on that account as an owner, we did not consider this as a gift. We consider this as an intrabank transfer between borrowers one account to another account. - Seller-06/22/2023

Resolved-lender addressed and does not consider a gift. - Due Diligence Vendor-06/22/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1010912

XXXXXXX-2023-NQM4-116

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-117

Closed

FCRE1198

2023-06-14 10:04

2023-07-25 10:11

Waived

2 - Non-Material

Credit

Eligibility

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

Waived- - Due Diligence Vendor-07/25/2023

Ready for Review-Exception granted: : borrower is short in reserves - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Please see Exception form in attachment - Seller-07/24/2023

Open-Audited Reserves of 0.96 month(s) are less than Guideline Required Reserves of 3 month(s) Assets not provided - Due Diligence Vendor-06/14/2023

Ready for Review-Document Uploaded. Please see Exception form in attachment - Seller-07/24/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Borrower contribution
exceeds requirement >=5%

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

1006426

XXXXXXX-2023-NQM4-117

Closed

FCRE1501

2023-06-14 09:58

2023-07-25 10:10

Waived

2 - Non-Material

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Waived-Exception granted: borrower is short in reserves
- Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Please see Exception form in attachment - Seller-07/24/2023

Open-Total Qualified Assets for Reserves Post-Close of $1545.99 is less than Total Required Reserve Amount of $4849.35 - Due Diligence Vendor-06/14/2023

Ready for Review-Document Uploaded. Please see Exception form in attachment - Seller-07/24/2023

Waived-Exception granted: borrower is short in reserves
- Due Diligence Vendor-07/25/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Borrower contribution
exceeds requirement >=5%

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

1006419

XXXXXXX-2023-NQM4-117

Closed

FCRE8611

2023-06-14 10:06

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Exception found on page 228

Approved exception form required for the following: [redacted] is on the personal bank statements being used for income, but is not a borrower on our loan.

Approved with conditions +0.25 to the rate - Due Diligence Vendor-06/14/2023

Waived-Exception found on page 228

Approved exception form required for the following:[redacted] is on the personal bank statements being used for income, but is not a borrower on our loan.

Approved with conditions +0.25 to the rate - Due Diligence Vendor-06/14/2023

5+ years credit history, No consumer late payments in last 48 months, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1006435

XXXXXXX-2023-NQM4-118

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-119

Closed

FCRE1479

2023-06-15 11:28

2023-07-07 06:58

Resolved

1 - Information

Credit

Assets

Asset 1 Does Not Meet Guideline Requirements

Resolved-per Lender comments :The [redacted] deposit was documented as a gift ([redacted]), the $20,000 does not need to be sourced because it is not needed to be used for cash to close or reserves since we have other assets.  Thank you,  [redacted] Underwriter
TPR-  Reduced asset 3 by $20k and gift letter is on page 59 - Due Diligence Vendor-07/07/2023

Open-Asset Record 1 Does Not Meet G/L Requirements Lox and source of large deposits are required reflecting  in the personal account [redacted]
- 05/16/2023 for [redacted],     05/15/2023 for $20,000.00
- Due Diligence Vendor-06/15/2023

Resolved-per Lender comments :The [redacted]deposit was documented as a gift [redacted] transaction fee), the $20,000 does not need to be sourced because it is not needed to be used for cash to close or reserves since we have other assets. Thank you, [redacted] Underwriter
TPR- Reduced asset 3 by $20k and gift letter is on page 59 - Due Diligence Vendor-07/07/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1008575

XXXXXXX-2023-NQM4-120

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-121

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-122

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-123

Closed

FCOM1266

2023-06-14 17:09

2023-06-30 09:02

Resolved

1 - Information

Compliance

Missing Doc

Homeownership Counseling Disclosure Is Missing

Resolved-Homeownership Counseling Disclosure Is Present or Not Applicable - Due Diligence Vendor-06/30/2023

Ready for Review-Document Uploaded. Per correspondent, this is entire set the broker released - Seller-06/30/2023

Counter-missing first page to show borrower name and date it was provided to verify compliant. - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. see attached  - Seller-06/28/2023

Counter-Disagree.  Primary residence/2nd homes require the counseling disclosure to be provided - Due Diligence Vendor-06/26/2023

Ready for Review-Per correspondent -- Since this is a conventional loan HUD ownership disclosure is not required.  Also, since the borrower is not a first-time homebuyer, homeownership counselling is not required on this loan.   - Seller-06/23/2023

Open-Homeownership Counseling Disclosure Is Missing - Due Diligence Vendor-06/14/2023

Ready for Review-Document Uploaded. Per correspondent, this is entire set the broker released - Seller-06/30/2023

Ready for Review-Document Uploaded. see attached - Seller-06/28/2023

Ready for Review-Per correspondent -- Since this is a conventional loan HUD ownership disclosure is not required. Also, since the borrower is not a first-time homebuyer, homeownership counselling is not required on this loan. - Seller-06/23/2023

Resolved-Homeownership Counseling Disclosure Is Present or Not Applicable - Due Diligence Vendor-06/30/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

1007501

XXXXXXX-2023-NQM4-123

Closed

FCRE8611

2023-06-14 17:28

2023-06-29 09:41

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-tax returns now present. - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. see attached - Seller-06/28/2023

Counter-personal returns upload was corrupt and  will not open - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Document Uploaded.  - Seller-06/27/2023

Counter-still missing 2 yrs personal returns as required by guidelines or a waiver for missing documents. - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Please see attached  - Seller-06/23/2023

Open-B1-self employed but 2 tax returns not  in file and transcripts in file for 2 years do not show any self employed income - Due Diligence Vendor-06/14/2023

Ready for Review-Document Uploaded. see attached - Seller-06/28/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/27/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/23/2023

Resolved-tax returns now present. - Due Diligence Vendor-06/29/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

1007507

XXXXXXX-2023-NQM4-123

Closed

FCRE1197

2023-06-14 18:10

2023-06-22 13:20

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-waiver for FICO not meeting - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please see attached updated FICO scores - mid fico meets product requirements - Seller-06/21/2023

Open-Audited FICO of 624 is less than Guideline FICO of 720 min score of max LTV is 720 - Due Diligence Vendor-06/15/2023

Ready for Review-Document Uploaded. Please see attached updated FICO scores - mid fico meets product requirements - Seller-06/21/2023

Waived-waiver for FICO not meeting - Due Diligence Vendor-06/22/2023

5 years on current job, 2+ borrowers on the loan, Other: specify below
Bor2 22 years with same employer

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Investor Post-Close

1007517

XXXXXXX-2023-NQM4-123

Closed

FCRE6679

2023-06-14 17:27

2023-06-22 13:19

Waived

2 - Non-Material

Credit

Eligibility

Open Current Charge offs

Waived-waiver for open charge off not paid - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please use this exception to clear all 3 conditions surrounding FICO, LTV and open collection - Seller-06/21/2023

[redacted] has $4905 charge off not paid - Due Diligence Vendor-06/14/2023

Ready for Review-Document Uploaded. Please use this exception to clear all 3 conditions surrounding FICO, LTV and open collection - Seller-06/21/2023

Waived-waiver for open charge off not paid - Due Diligence Vendor-06/22/2023

5 years on current job, 2+ borrowers on the loan, Other: specify below
Bor2 22 years with same employer

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Investor Post-Close

1007506

XXXXXXX-2023-NQM4-123

Closed

FCRE1194

2023-06-14 18:10

2023-06-22 13:18

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-waiver for LTV exceeds max allowed - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please use this exception to clear all 3 conditions surrounding FICO, LTV and open collection - Seller-06/21/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] - Due Diligence Vendor-06/15/2023

Ready for Review-Document Uploaded. Please use this exception to clear all 3 conditions surrounding FICO, LTV and open collection - Seller-06/21/2023

Waived-waiver for LTV exceeds max allowed - Due Diligence Vendor-06/22/2023

5 years on current job, 2+ borrowers on the loan, Other: specify below
Bor2 22 years with same employer

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Investor Post-Close

1007519

XXXXXXX-2023-NQM4-123

Closed

FCRE5393

2023-06-15 11:39

2023-06-16 12:14

Resolved

1 - Information

Credit

Insurance

Mortgage Insurance Defect

Resolved-No mi insurance since Non QM - Due Diligence Vendor-06/16/2023

Ready for Review-MI would not be applicable since we do review file as non-qm - Seller-06/16/2023

Open-Please confirm if MI is cancelled. If not, MI will need to be included in the DTI. Currently DTI is almost to 50% and does not include MI payment . - Due Diligence Vendor-06/15/2023

Ready for Review-MI would not be applicable since we do review file as non-qm - Seller-06/16/2023

Resolved-No mi insurance since Non QM - Due Diligence Vendor-06/16/2023

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

1008596

XXXXXXX-2023-NQM4-124

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-125

Closed

FCOM1221

2023-06-19 10:43

2023-08-01 08:38

Resolved

1 - Information

Compliance

Missing Doc

The Deed of Trust is Incomplete

Resolved-notary correction received. - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Please find AOMA attached - Seller-08/01/2023

Open-The Deed of Trust is Incomplete Notary date mentioned is 06/12/20234 instead of 06/12/2023 (Pg#27 of 131) - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. Please find AOMA attached - Seller-08/01/2023

Resolved-notary correction received. - Due Diligence Vendor-08/01/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1011799

XXXXXXX-2023-NQM4-125

Closed

FCRE9580

2023-06-16 13:33

Waived

2 - Non-Material

Credit

Eligibility

Bankruptcy History does not meet guidelines

Waived-Exception Type Material: Credit--Exception request for Discharged BK 6 months--Hello Team, Requesting a guideline exception on this loan. This borrower has established employment and
credit. Fico of 724. This is a primary purchase 2yr full doc [redacted] Program due to credit event within last 12
months. [redacted] program requires 12 month seasoning and we are at 6. CH7 BK discharged 9/22. Attached is a
copy of the Credit report and 1003 for review. Thanks for your consideration in approving this request.
(Exception form present on page# 1 of 150)
- Due Diligence Vendor-06/16/2023

Revolving debt is under 30%, 10 years or more in same line of employment, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1010599

XXXXXXX-2023-NQM4-126

Closed

FCRE8611

2023-06-14 12:23

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Exception found on page 1320

Approved exception form required for the following: 24 month BS program and two different accounts are being used because one account was closed and another was open.

Approved with conditions of 0.25 to the rate, 40 LTV max - Due Diligence Vendor-06/14/2023

DTI >=10% lower than loan program, 10 years or more in same line of employment, LTV 10% below maximum

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1006866

XXXXXXX-2023-NQM4-127

Closed

FCRE9802

2023-06-18 07:16

2023-06-27 09:21

Waived

2 - Non-Material

Credit

Eligibility

Borrower is First Time Homebuyer and Program Does Not Allow This

Waived-waiver for FTHB on DSCR Program - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. see attached - Seller-06/26/2023

Open-Borrower cannot be first time homebuyer for this program - Due Diligence Vendor-06/18/2023

Ready for Review-Document Uploaded. see attached - Seller-06/26/2023

Waived-waiver for FTHB on DSCR Program - Due Diligence Vendor-06/27/2023

No credit events past 48 months, No mortgage late payments in last 24 months, Other: specify below
Mid FICO 768

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1011197

XXXXXXX-2023-NQM4-127

Closed

FCRE1481

2023-06-18 11:46

2023-06-19 09:35

Waived

2 - Non-Material

Credit

Assets

Asset 3 Does Not Meet Guideline Requirements

Waived-Asset 3 - $40K, $25K, $30K, $30K Gifts already included in ckg #5100 (pgs 58, 49, 54, 56 and $25K Gift included in ckg #2937 (pg 51) = $150K Gifts exceed guidelines. Exception (pg 897) waives the 20%<=[redacted] LTV Guidelines -- Allow 14% of 20% Personal Assets required for down payment DSCR Investment Purchase Gift for remainder of assets and reserves - Due Diligence Vendor-06/18/2023

Borrower contribution exceeds requirement >=5%, No credit events past 48 months, Credit Scpre >40 points than minimum required.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1011243

XXXXXXX-2023-NQM4-128

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-129

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-130

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-131

Closed

FCRE6843

2023-06-15 14:26

2023-06-28 07:38

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-letter now present. - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Updated to reflect use of funds does not negatively impact business - Seller-06/27/2023

Counter-per the original finding, we had to include the business account or else we are short since the [redacted] asset listed on the 1003 was not present in file.  We either need CPA letter or a FNMA cash flow analysis to show use of funds wont impact business or provide the 2 months [redacted] asset - Due Diligence Vendor-06/26/2023

Ready for Review-Business funds were not used as assets, both accounts were personal, please advise  - Seller-06/23/2023

Counter-letter does not address use of business funds. - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. see attached - Seller-06/20/2023

Open- - Using the borrower's business account, they have enough assets but missing a CPA letter stating the use of business funds will not effect the business.  However, the 1003 reflects an asset statement from [redacted] that is not in the file.  Please provide a CPA letter or the [redacted] statements.  - Due Diligence Vendor-06/15/2023

Ready for Review-Document Uploaded. Updated to reflect use of funds does not negatively impact business - Seller-06/27/2023

Ready for Review-Business funds were not used as assets, both accounts were personal, please advise - Seller-06/23/2023

Ready for Review-Document Uploaded. see attached - Seller-06/20/2023

Resolved-letter now present. - Due Diligence Vendor-06/28/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1008917

XXXXXXX-2023-NQM4-131

Closed

2000000

2023-06-16 11:19

2023-06-22 11:28

Resolved

1 - Information

Compliance

Mavent

Fees: Prohibited

Resolved-Hello,

I reviewed the statute with our compliance manager. NJAC Section 3:1-16.2 lists permissible fees that a lender may charge. Title fees charged by a third party are permissible. I don’t see why mileage fees would be excluded. The mileage fee is not being paid to the lender.

Please advise.

Thank you

On
- Due Diligence Vendor-06/22/2023

Counter-this does not prove Title Mileage is an allowable fee - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/20/2023

Open-Section 3:1-16.2 of the [redacted] Mortgage Loans, Fees, Obligations Provisions (N.J.A.C. 3:1-16.2) does not allow TITLE - MILEAGE FEE (Fee ID: 998) to be charged to the Borrower in [redacted]. TITLE - MILEAGE FEE - Due Diligence Vendor-06/16/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/20/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1010304

XXXXXXX-2023-NQM4-131

Closed

50001251

2023-06-16 11:19

2023-06-21 12:47

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-COC provided. - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. see attached - Seller-06/20/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). Loan Discount Fee increase $3,000.00 from initial LE dated 04/12/2023 to $4,500.00 in Revised LE dated 05/18/2023 and $4,500 from Initial CD dated 06/02/2023 to $5,025 in Final CD dated 06/09/2023 - Due Diligence Vendor-06/16/2023

Ready for Review-Document Uploaded. see attached - Seller-06/20/2023

Resolved-COC provided. - Due Diligence Vendor-06/21/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1010305

XXXXXXX-2023-NQM4-131

Closed

50001252

2023-06-16 11:19

2023-06-21 12:47

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-COC provided. - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. See attached - Seller-06/20/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). Loan Discount Fee increase $3,000.00 from initial LE dated 04/12/2023 to $4,500.00 in Revised LE dated 05/18/2023 and $4,500 from Initial CD dated 06/02/2023 to $5,025 in Final CD dated 06/09/2023 - Due Diligence Vendor-06/16/2023

Ready for Review-Document Uploaded. See attached - Seller-06/20/2023

Resolved-COC provided. - Due Diligence Vendor-06/21/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1010306

XXXXXXX-2023-NQM4-132

Closed

FCRE1491

2023-06-16 06:40

2023-06-26 12:19

Resolved

1 - Information

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Resolved-gift docs present - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Please see attached what Title provides us - Seller-06/23/2023

Open-Asset Qualification Does Not Meet Guideline Requirements - Due Diligence Vendor-06/16/2023

Ready for Review-Document Uploaded. Please see attached what Title provides us - Seller-06/23/2023

Resolved-gift docs present - Due Diligence Vendor-06/26/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1009702

XXXXXXX-2023-NQM4-133

Closed

FCRE1197

2023-06-16 11:12

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 704 is less than Guideline FICO of 720 Minimum score for [redacted]LTV is 720. Lender exception page 11. - Due Diligence Vendor-06/16/2023

Revolving debt under 30%, No credit events past 48 months, No mortgage lates last 24 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1010285

XXXXXXX-2023-NQM4-134

Closed

FCRE8800

2023-06-19 09:49

2023-06-20 11:45

Resolved

1 - Information

Credit

Eligibility

Compensating Factors are insufficient to approve Exception Waiver

Resolved-3rd factor now present - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/19/2023

Open-missing 3rd factor. - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/19/2023

Resolved-3rd factor now present - Due Diligence Vendor-06/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1011710

XXXXXXX-2023-NQM4-134

Closed

FCRE4805

2023-06-16 10:57

2023-06-20 11:45

Waived

2 - Non-Material

Credit

Eligibility

Trust/POA Does Not Meet Guideline Requirements

Waived-Lender granted exception for POA for Foreign National purchase

See page 531 - Due Diligence Vendor-06/16/2023

Several income source and DTI below 45%, Revolving debt is under 30% [redacted] LTV

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1010230

XXXXXXX-2023-NQM4-135

Closed

FCRE6843

2023-06-15 15:45

2023-06-21 12:54

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Waiver to use 1 month of asset statements  - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. see attached  - Seller-06/20/2023

Ready for Review-disregard, appears there is a month gap - I will create waiver - Seller-06/20/2023

Ready for Review-Document Uploaded. Please see attached  - Seller-06/20/2023

Counter-missing 60 days.  This is only 4/21-519 statement. - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please see attached  - Seller-06/19/2023

Open- - Verified assets $0.000, cash to close is $8,329.09, 3 months reserves required equal to $5,629.20, borrower is hence short $13,958.29 to meet cash to close and reserve requirement. - Due Diligence Vendor-06/15/2023

Ready for Review-Document Uploaded. see attached  - Seller-06/20/2023

Ready for Review-disregard, appears there is a month gap - I will create waiver - Seller-06/20/2023

Ready for Review-Document Uploaded. Please see attached  - Seller-06/20/2023

Ready for Review-Document Uploaded. Please see attached  - Seller-06/19/2023

Waived-Waiver to use 1 month of asset statements - Due Diligence Vendor-06/21/2023

[redacted] LTV, DSCR>1, no major recent credit events

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Investor Post-Close

1009039

XXXXXXX-2023-NQM4-135

Closed

FCRE9991

2023-06-15 15:46

2023-06-20 12:00

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-updated tape received - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. see attached - Seller-06/19/2023

Open- - Data Tape DSCR 1.14 Audited DSCR 1.07 PITI matches the 1008 and rent from lease and rent form appraisal are the same at $2,000. - Due Diligence Vendor-06/15/2023

Ready for Review-Document Uploaded. see attached - Seller-06/19/2023

Resolved-updated tape received - Due Diligence Vendor-06/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

1009044

XXXXXXX-2023-NQM4-136

Closed

FCRE1194

2023-06-19 09:52

2023-06-22 13:22

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Waiver for LTV exceeding allowed Max - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/21/2023

Open-Audited LTV of [redacted]% exceeds Guideline LTV of [redacted] Max LTV for a cash out investment with at 722 FICO is [redacted]. There is a pricing adjustment on the lock confirmation (page 1047) for an exception to [redacted] LTV that is not present in the loan file. - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/21/2023

Waived-Waiver for LTV exceeding allowed Max - Due Diligence Vendor-06/22/2023

Several income sources and DTI below 45%, Revolving debt is under 30%, DTI >=10% lower than loan program, No credit events
past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months, Credit score >40
points than minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1011717

XXXXXXX-2023-NQM4-137

Closed

FVAL9739

2023-06-15 19:59

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Document Uploaded. Exception (page 106-449) requested on Condo full review -- Section VII Question 3 -- Condo unable to answer if the HOA is aware of any deficiencies related to the safety, soundness, structural integrity..... approved with conditions to add 1 to Price, max loan amount is $[redacted] or [redacted] LTV whichever is less, DSCR >1. - Due Diligence Vendor-06/16/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1009153

XXXXXXX-2023-NQM4-138

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-139

Closed

FCOM4028

2023-06-16 15:15

2023-06-20 12:06

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-Loan closed within 60 days - Due Diligence Vendor-06/20/2023

Open-Missing evidence of Mortgage recording - Due Diligence Vendor-06/16/2023

Resolved-Loan closed within 60 days - Due Diligence Vendor-06/20/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

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

N/A

1010834

XXXXXXX-2023-NQM4-139

Closed

FVAL9739

2023-06-19 08:24

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type:- Non-Material Appraisal
Short Description:- Looking for Exception to use Current Appraisal Value
Comments: Looking to get an exception to use the current appraised Value of $[redacted]. Borrower Purchased the Property 11 months ago on [redacted] for $[redacted] and made improvements to the property. the value was review by CUW and passed with current value. The DSCR is over 1.20 and this is a rate/term refi where the new loan amount of [redacted] is les than the purchase for. Since value is supported and verified with collateral desk plus we have over 11 months and low LTV, looking to get the exception to use current value. Excellent credit borrower with DSCR over 1.2
Page no 614 - Due Diligence Vendor-06/19/2023

Waived-Exception Type:- Non-Material Appraisal
Short Description:- Looking for Exception to use Current Appraisal Value
Comments: Looking to get an exception to use the current appraised Value of $395,000. Borrower Purchased the Property 11 months ago on [redacted] for $[redacted] and made improvements to the property. the value was review by CUW and passed with current value. The DSCR is over 1.20 and this is a rate/term refi where the new loan amount of $[redacted] is les than the purchase for. Since value is supported and verified with collateral desk plus we have over 11 months and low LTV, looking to get the exception to use current value. Excellent credit borrower with DSCR over 1.2
Page no 614 - Due Diligence Vendor-06/19/2023

No Credit events past 48 months, 5+ Credit History, Credit Score >40 Points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

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

Originator Pre-Close

Yes

1011533

XXXXXXX-2023-NQM4-140

Closed

FCRE1157

2023-06-19 14:59

2023-06-22 13:30

Resolved

1 - Information

Credit

Missing Doc

Hazard Insurance Policy is Missing

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/21/2023

Open-Missing Hazard Insurance Policy Please provide HOI reflecting the Total premium - $1,140 ($95 monthly) as considered in the final CD. - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/21/2023

Resolved-Hazard Insurance Policy is fully present - Due Diligence Vendor-06/22/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1012186

XXXXXXX-2023-NQM4-140

Closed

123ABCF

2023-06-17 15:49

Waived

2 - Non-Material

Credit

Income/Employment

FICO does not meet minimum program requirement

Waived-Exception Type : Material : Credit
Short Description : Fico 673 but DSCR is in between .75- 0.99
Comment: NA
Exception page # 754 of 820 - Due Diligence Vendor-06/17/2023

Borrower contribution Exceeds requirement >=5%, No Credit Events past 48 Months, No consumer Late Payments in last 48 months.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1011149

XXXXXXX-2023-NQM4-141

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-142

Closed

FCRE1437

2023-06-17 08:16

Waived

2 - Non-Material

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Waived-Income and Employment Do Not Meet Guidelines Bwr is incorporated 23 months - 07/2021. CPA letter indicates bwr was previously a sch c business since 12/2020. Lender exception page 288 for 23 months in current corporation. - Due Diligence Vendor-06/17/2023

Revolving debt under 30%, No credit events past 48 months, No consumer lates payments last 48 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1011082

XXXXXXX-2023-NQM4-143

Closed

FCRE1194

2023-06-19 14:55

2023-06-20 15:41

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception Type:- Material: LTV
Short Description : - Exception on LTV for C/O Refi
Hello Team, this is a guideline exception due to the loan amount on DSCR cash out Refi. This is an experienced investor great fico and compensating factors. Requesting [redacted] LTV on DSCR cash out refi. Attached is copy of borrowers credit, and 1003 for review. Please consider this information for approval. Thank you!
Page no 117 of 184

- Due Diligence Vendor-06/19/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1012181

XXXXXXX-2023-NQM4-144

Closed

FCRE6843

2023-06-19 14:37

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception Type :- Material: Assets
Short Description :- 5% Gift funds from a close friend
Comments :- Hi team, please allow to use gift funds from borrower's close friend. They know each other for about 20 years
and they are like brothers. Thank you.
Exception form available on page no 15 of 349 - Due Diligence Vendor-06/19/2023

No credit events past 48 months, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1012168

XXXXXXX-2023-NQM4-144

Closed

FCRE9802

2023-06-19 14:36

Waived

2 - Non-Material

Credit

Eligibility

Borrower is First Time Homebuyer and Program Does Not Allow This

Waived-Borrower cannot be first time homebuyer for this program Exception Type :- Material: Title
Short Description :- no homeownership within the past 24 months on DSCR file
Comments :- Dear team, please approve no homeownership within the past 24 months on DSCR file.
Exception form available on page no 14 of 349 - Due Diligence Vendor-06/19/2023

No credit events past 48 months, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1012166

XXXXXXX-2023-NQM4-145

Closed

FCRE6843

2023-06-19 08:49

2023-07-17 07:53

Resolved

1 - Information

Credit

Assets

Asset General

Resolved- - Due Diligence Vendor-07/17/2023

Ready for Review-CPA provided what they can that business loan does not affect business - Due Diligence Vendor-07/17/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/14/2023

Ready for Review-Document Uploaded. - Seller-07/14/2023

Counter-this does not verify borrower can withdraw funds from business with no negative impact - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Please find attached - Seller-07/05/2023

Open-Need CPA letter that use of business funds wont impact business - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/14/2023

Ready for Review-Document Uploaded. - Seller-07/14/2023

Ready for Review-Document Uploaded. Please find attached - Seller-07/05/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

1011578

XXXXXXX-2023-NQM4-145

Closed

FCRE8459

2023-06-19 08:50

2023-07-06 10:18

Resolved

1 - Information

Credit

Eligibility

Borrower Entity Ownership does not meet guidelines

Resolved-received proof they were filed. - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Please find attached - Seller-07/05/2023

Open-entity docs are all not signed - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. Please find attached - Seller-07/05/2023

Resolved-received proof they were filed. - Due Diligence Vendor-07/06/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

1011579

XXXXXXX-2023-NQM4-145

Closed

FCRE1151

2023-06-19 08:38

2023-06-23 10:05

Resolved

1 - Information

Credit

Title

Satisfactory Chain of Title not Provided

Resolved-lender addressed and states this is inheritance and loan is R/T - Due Diligence Vendor-06/23/2023

Ready for Review-Document Uploaded. Please find response from our Senior UW attached - Seller-06/23/2023

Open-Unsatisfactory Chain of Title provided Chain show borrower took title 1/24/2023 via warranty deed for $0.00 but no prior chain. Flip and value not verified for LTV. Also borrower is paying off a mortgage but is not on title - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. Please find response from our Senior UW attached - Seller-06/23/2023

Resolved-lender addressed and states this is inheritance and loan is R/T - Due Diligence Vendor-06/23/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

1011561

XXXXXXX-2023-NQM4-145

Closed

FCOM3596

2023-06-19 08:50

2023-06-22 09:06

Resolved

1 - Information

Compliance

Missing Doc

Missing Prepayment Rider

Resolved-lender addressed no prepay - Due Diligence Vendor-06/22/2023

Ready for Review-According to Final CD, there is no Prepayment Penalty on File. Prepayment Rider is not required here. - Seller-06/22/2023

Open-confirm no Prepay for [redacted] - Due Diligence Vendor-06/19/2023

Ready for Review-According to Final CD, there is no Prepayment Penalty on File. Prepayment Rider is not required here. - Seller-06/22/2023

Resolved-lender addressed no prepay - Due Diligence Vendor-06/22/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

1011580

XXXXXXX-2023-NQM4-145

Closed

FCRE1200

2023-06-19 08:47

2023-06-20 13:56

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception request per UW condition
Comments Hello Team, this is an approved loan. Requesting a guideline exception per underwriting condition. Exception
was already approved for loan amount less than 100k. UW Condition: Approved exception form required for
the following: Loan amount below 100K - Due Diligence Vendor-06/19/2023

Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan program, No credit events past 48 months
page 8

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1011574

XXXXXXX-2023-NQM4-145

Closed

FCRE1317

2023-06-19 08:49

Waived

2 - Non-Material

Credit

Income/Employment

Borrower 1 Total Years Employment Verified is Less Than 24 Months

Waived-Approved exception form required for the following: 1003 has borrower only self
employed with this business for 1 year Minimum requirements for bank statement loans are 2 years self
employed with the same business. The borrower has been self employed for the same business over 2 years
he filed as schedule C and then registered business for benefits. Change in structure is allowed. This borrower
has multiple compensating factors, experienced investor and fico of 641. Attached is a copy of the credit report
and previous approved exception. - Due Diligence Vendor-06/19/2023

Approved exception form required for the following: 1003 has borrower only self
employed with this business for 1 year Minimum requirements for bank statement loans are 2 years self
employed with the same business. The borrower has been self employed for the same business over 2 years
he filed as schedule C and then registered business for benefits. Change in structure is allowed. This borrower
has multiple compensating factors, experienced investor and fico of 641. Attached is a copy of the credit report
and previous approved exception.
page 8

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1011577

XXXXXXX-2023-NQM4-145

Closed

FCRE1493

2023-06-19 08:48

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-Tradeline not met - Due Diligence Vendor-06/19/2023

Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan program, No credit events past 48 months
page 8

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1011576

XXXXXXX-2023-NQM4-145

Closed

FCRE1197

2023-06-19 08:47

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 641 is less than Guideline FICO of 660 Exception for C/O Refi on Fico
Comments Hello Team, this is a great loan with a good borrower. Requesting a guideline exception. This borrower has
multiple compensating factors, experienced investor and fico of 641. Exception is for C/O Refi on investment
with 61% LTV. Our competitor [redacted] Mortgage Services allows C/O Refi of [redacted] LTV with fico of 620.
Attached is a copy of the credit report, 1003 and email from competitor for review - Due Diligence Vendor-06/19/2023

Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan program, No credit events past 48 months, 5+
years credit history
page 7/252

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1011572

XXXXXXX-2023-NQM4-145

Closed

FCRE1194

2023-06-19 08:47

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Exception is for C/O Refi on investment
with [redacted]. Our competitor [redacted] Mortgage Services allows C/O Refi of [redacted] LTV with fico of 620.
Attached is a copy of the credit report, 1003 and email from competitor for review. - Due Diligence Vendor-06/19/2023

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Exception is for C/O Refi on investment
with [redacted] LTV. Our competitor [redacted] Mortgage Services allows C/O Refi of [redacted] LTV with fico of 620.
Attached is a copy of the credit report, 1003 and email from competitor for review. - Due Diligence Vendor-06/19/2023

Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan program, No credit events past 48 months
page 8

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1011575

XXXXXXX-2023-NQM4-146

Closed

2260

2023-06-21 13:08

2023-06-23 10:16

Resolved

1 - Information

Compliance

Mavent

Prepayment: Penalty

Resolved-lender addressed no prepay - Due Diligence Vendor-06/23/2023

Ready for Review-There is no Prepayment on loan, it was charged as 0 so there is Prepayment Adjustments on Lock confirmation - Seller-06/22/2023

Open-confirm no prepay on [redacted] Investment loan - Due Diligence Vendor-06/21/2023

Ready for Review-There is no Prepayment on loan, it was charged as 0 so there is Prepayment Adjustments on Lock confirmation - Seller-06/22/2023

Resolved-lender addressed no prepay - Due Diligence Vendor-06/23/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1015777

XXXXXXX-2023-NQM4-146

Closed

FCRE1493

2023-06-19 16:47

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-Exception Type :- Material: Credit
Short Description :- One opened trade line only
Comments :- Need Exception for one opened trade line for 66 months.
Exception form available on page no 209 of 209. (AN) - Due Diligence Vendor-06/19/2023

LTV 10% below maximum, Revolving debt is under 30%, 5 years on current job, No credit events past 48 months, No mortgage late
payments in last 24 months, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1012261

XXXXXXX-2023-NQM4-147

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-148

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-149

Closed

FCOM4028

2023-06-19 08:50

2023-06-22 13:23

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-06/22/2023

Resolved-Missing evidence of Mortgage recording Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-06/21/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1011581

XXXXXXX-2023-NQM4-149

Closed

FCRE1440

2023-06-19 09:39

2023-06-19 10:06

Waived

2 - Non-Material

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Waived-Housing History Does Not Meet Guideline Requirements Page 250 - Lender Exception to accept private party VOM only - not on subject property but 2 other reo. - Due Diligence Vendor-06/19/2023

Experienced Investor 2+ properties, No credit events or consume lates last past 48 mos. No mortgage lates last 24 mos, Reserves = 6 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1011676

XXXXXXX-2023-NQM4-150

Closed

FCRE1166

2023-06-19 05:55

2023-06-23 10:35

Resolved

1 - Information

Credit

Insurance

Hazard Insurance Coverage is less than all Subject Lien(s)

Resolved-lender is good with insurance - Due Diligence Vendor-06/23/2023

Ready for Review-Document Uploaded. HO3 policy has 100% for RCE, we are okay with it. Please be advised that Statute [redacted] became effective July 1, 2021. These changes make it illegal to request a Replacement Cost Estimator from the insurance agent for the subjects located in [redacted]. - Seller-06/23/2023

Open-Hazard Insurance Coverage Amount of $305050 is less than Total Amount of Subject Lien(s) of $[redacted] Cost estimator needed - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. HO3 policy has 100% for RCE, we are okay with it. Please be advised that Statute [redacted] became effective July 1, 2021. These changes make it illegal to request a Replacement Cost Estimator from the insurance agent for the subjects located in [redacted]. - Seller-06/23/2023

Resolved-lender is good with insurance - Due Diligence Vendor-06/23/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1011395

XXXXXXX-2023-NQM4-151

Closed

FCRE1440

2023-06-19 06:32

Waived

2 - Non-Material

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Waived-Housing History Does Not Meet Guideline Requirements Allow a 30 day late on a DSCR Purchase 8 months ago
Comments Allow a 30 day late on a DSCR Purchase 8 months ago - Due Diligence Vendor-06/19/2023

Borrower contribution exceeds requirement >=5%, No credit events past 48 months, Reserves>6 months (ineligible for Foreign
Nationals)
Page 582

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1011420

XXXXXXX-2023-NQM4-152

Closed

FVAL4036

2023-06-19 08:26

2023-06-28 07:41

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-waiver to use appraised value on FLIP - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Please find exception form attached - Seller-06/28/2023

Open-No exception to allow appraised value of subject after being recently bought/flipped within last 6 months, 02/2023, recent improvements to property approx. 76K per pages 107, 110.. - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. Please find exception form attached - Seller-06/28/2023

Waived-waiver to use appraised value on FLIP - Due Diligence Vendor-06/28/2023

Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, 10 years or more in same line of employment, No
credit events past 48 months, 5+ years credit history

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1011536

XXXXXXX-2023-NQM4-152

Closed

FCRE1194

2023-06-19 08:22

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Lender Exception page 9 to allow [redacted]LTV Rural purchase Investment. - Due Diligence Vendor-06/19/2023

Dti Below 45%, 5+ yrs current job, Residual income > $3K, DTI > 10% below program maximum, 10 yrs same line of work as attorney, No credit events past 48 months, No mortgage lates last 24 months, 5+yrs credit history, No consumer lates last 48 months.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1011530

XXXXXXX-2023-NQM4-153

Closed

FVAL5524

2023-06-19 17:27

2023-07-20 08:26

Waived

2 - Non-Material

Property

Ineligible Property

Waived-Waiver for sq feet under 500 - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please see exception form in attachment - Seller-07/19/2023

Open-Subject Condo gross living sqft per Appraisal (pg 2-180) is 462 which is less than the minimum 500 gross living sqft. No exception found to waive issue. - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. Please see exception form in attachment - Seller-07/19/2023

Waived-Waiver for sq feet under 500 - Due Diligence Vendor-07/20/2023

Compensating Factors
DSCR=> 1.3 , Experienced investor with 2+ investment properties, No credit events past 48 months, 5+ years credit history,
Reserves>6 months (ineligible for Foreign Nationals)

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1012270

XXXXXXX-2023-NQM4-153

Closed

FCRE1200

2023-06-19 17:20

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception (pg 406) requesting less than $100,000 loan amount per guideline requirement -- approved with condition that DSCR >=1.2. - Due Diligence Vendor-06/19/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, 5+ years credit history

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1012268

XXXXXXX-2023-NQM4-154

Closed

FCRE1376

2023-06-17 12:24

Waived

2 - Non-Material

Credit

Missing Doc

Borrower 2 1040 Schedule E Missing

Waived-Exception to use leases instead of Sch E for rental income for BWR 2 (non occupant BWR)- Page 198 - Due Diligence Vendor-06/17/2023

No credit events past 48 months, No mortgage lates last 24 months, 5+ yr credit history, No consumer lates last 48 months. 2+ bwrs on loan, Credit Score > 40 points above program minimum.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1011121

XXXXXXX-2023-NQM4-155

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-156

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-157

Closed

7040-11690

2023-06-19 12:32

2023-06-26 12:46

Resolved

1 - Information

Compliance

Late:Amount

[redacted] - Maximum Late Fee

Resolved-lender addressed - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Please see the comments from our Compliance: Our Note contains this language in sec 5. We are bound by and will comply with state law set maximum charges (see screenshot attached) - Seller-06/23/2023

Open-The [redacted] Real Property Law prohibits assessing a late fee greater than 2%. ([redacted] Real Prop 254-b) - Due Diligence Vendor-06/19/2023

Ready for Review-Document Uploaded. Please see the comments from our Compliance: Our Note contains this language in sec 5. We are bound by and will comply with state law set maximum charges (see screenshot attached) - Seller-06/23/2023

Resolved-lender addressed - Due Diligence Vendor-06/26/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

N/A

1011989

XXXXXXX-2023-NQM4-157

Closed

FCRE1491

2023-06-19 09:39

Waived

2 - Non-Material

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Waived-Asset Qualification Does Not Meet Guideline Requirements Borr needs gift from Wife, see LOE attached
Comments see attached LOE for lg deposits from Wife. She is not on our loan. They transfer funds between their accts - Due Diligence Vendor-06/19/2023

Revolving debt is under 30%, No consumer late payments in last 48 months, Borrower contribution exceeds requirement >=5%
page 210

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

Originator Pre-Close

Yes

1011677

XXXXXXX-2023-NQM4-158

Closed

FCOM4028

2023-06-20 07:37

2023-07-31 14:34

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-Loan closed in less than 60 days - Due Diligence Vendor-07/31/2023

Ready for Review-Loan was made in less than 60 days - Seller-07/31/2023

Resolved-Missing evidence of Mortgage recording Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-06/22/2023

Ready for Review-Loan was made in less than 60 days - Seller-07/31/2023

Resolved-Loan closed in less than 60 days - Due Diligence Vendor-07/31/2023

Resolved-Missing evidence of Mortgage recording Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-06/22/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1012866

XXXXXXX-2023-NQM4-158

Closed

FCRE8705

2023-06-20 08:46

2023-06-20 08:47

Waived

2 - Non-Material

Credit

Eligibility

Excessive Seller Contributions

Waived-Lender exception page 10 to permit up to 6% seller concessions on LTV of [redacted] -Actual are 5.01% - Due Diligence Vendor-06/20/2023

No mortgage lates last 24 months, 5+ yr credit history, Bwr contribution exceeds 5%.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1013020

XXXXXXX-2023-NQM4-158

Closed

FCRE1197

2023-06-20 08:44

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 695 is less than Guideline FICO of 700 Page 9 exception to permit [redacted] LTV / 5 point score exception. (eliminated score > 40 points above and no credit events in past 48 months as these are incorrect) - Due Diligence Vendor-06/20/2023

No mortgage lates last 24 months, 5+ yr credit history, Bwr contribution exceeds 5%.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1013018

XXXXXXX-2023-NQM4-159

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-160

Closed

FCRE1194

2023-06-21 08:45

2023-06-22 10:22

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Max LTV is [redacted] Rate and Term Multi fam 5+. Lender exception to approve [redacted] LTV Page 373. - Due Diligence Vendor-06/21/2023

No credit events past 48 months, No mortgage lates last 24 months, 5+ yrs credit history.

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1014949

XXXXXXX-2023-NQM4-161

Closed

FCRE6843

2023-06-20 10:33

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception on page 239

Borrower is ITIN

Approved with conditions of +0.5 to the rate, national passport & ITIN letter from IRS required, cannot use POA - Due Diligence Vendor-06/20/2023

Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan program, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, LTV 10% below maximum, Credit score >40 points than minimum required, Borrower contribution exceeds requirement >=5%, Reserves>6 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1013297

XXXXXXX-2023-NQM4-162

Closed

FCRE9806

2023-06-19 13:59

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Exception found on page 237

Exclude car payments from DTI

Borrower has 2 cars purchased in Sep and Oct 2022. All the payments for these cars are being made by her business. But we do not have 12mo history to follow the guidelines. Can we please get an exception to exclude this debt from her liabilities and keep DTI below 50%?

Approved with conditions +0.25 to price, provide proof that all payments since Oct 2022 made by business - Due Diligence Vendor-06/19/2023

10 years or more in same line of employment, No credit events past 48 months, No mortgage late payments in last 24 months, 5+
years credit history, No consumer late payments in last 48 months, LTV 10% below maximum

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1012121

XXXXXXX-2023-NQM4-162

Closed

FCRE1197

2023-06-19 13:56

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 679 is less than Guideline FICO of 680 Exception found on page 238

Credit score 679 vs 680 min allowed

Approved with conditions +0.25 in rate, max CLTV 65 - Due Diligence Vendor-06/19/2023

Several income sources and DTI below 45%, DTI >=10% lower than loan program, 10 years or more in same line of employment, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, LTV 10% below maximum

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1012114

XXXXXXX-2023-NQM4-163

Closed

FCRE1201

2023-06-20 10:56

2023-06-21 13:23

Resolved

1 - Information

Credit

Missing Doc

Third Party Fraud Report not Provided

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/21/2023

Open-Missing Third Party Fraud Report need fraud report - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/21/2023

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-06/21/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1013364

XXXXXXX-2023-NQM4-163

Closed

FCOM0362

2023-06-20 10:29

2023-06-21 13:22

Resolved

1 - Information

Compliance

Missing Doc

Final HUD-1 Document is Missing

Resolved-all pages now present - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/21/2023

Open-Only page 1 present. need rest of pages - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/21/2023

Resolved-all pages now present - Due Diligence Vendor-06/21/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1013287

XXXXXXX-2023-NQM4-163

Closed

FCRE1491

2023-06-20 10:55

2023-06-20 10:59

Waived

2 - Non-Material

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Waived-Asset Qualification Does Not Meet Guideline Requirements use cash out for reserves - Due Diligence Vendor-06/20/2023

LTV 10% below minimum, NO credit events past 48 months, No mtg lates in past 24 months
page 360

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

1013362

XXXXXXX-2023-NQM4-164

Closed

FCRE1193

2023-06-20 12:49

2023-06-28 14:18

Resolved

1 - Information

Credit

Eligibility

Audited DTI Exceeds Guideline DTI

Resolved-revised app with corrected income received. Paystub supports higher income - Due Diligence Vendor-06/28/2023

Resolved-Audited DTI of 45.15% is less than or equal to Guideline DTI of 50% - Due Diligence Vendor-06/28/2023

Resolved-Audited DTI of % is less than or equal to Guideline DTI of % - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Please see attached revised 1003 with corrected income - Seller-06/28/2023

Open-Audited DTI of 50.72% exceeds Guideline DTI of 50% - student loan not included in the DTI. Per the credit report, the student loans are deferred until 7/123. There is no documentation as to the payment so 1% of balance included in the DTI. Final 1003 has 0 for monthly student loan payment. - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please see attached revised 1003 with corrected income - Seller-06/28/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1013614

XXXXXXX-2023-NQM4-164

Closed

FCRE1316

2023-06-20 09:22

2023-06-28 07:47

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 3rd Party VOE Prior to Close Missing

Resolved-VVOE now present. - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. See attached - Seller-06/27/2023

Open- - missing VOE for both jobs with in 10 business days of the note date. - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. See attached - Seller-06/27/2023

Resolved-VVOE now present. - Due Diligence Vendor-06/28/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1013134

XXXXXXX-2023-NQM4-164

Closed

FVAL5981

2023-06-20 09:16

2023-06-20 14:36

Waived

2 - Non-Material

Property

Property Type does not meet eligibility requirement(s)

Waived-Lender granted exception for Rural Manufactures home and legal nonconforming

see page 909 - Due Diligence Vendor-06/20/2023

no credit events past 48 months, borrower contribution exceeds required >=5%, reserves >6 months.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1013115

XXXXXXX-2023-NQM4-164

Closed

FCRE1318

2023-06-20 09:18

2023-06-20 14:36

Waived

2 - Non-Material

Credit

Income/Employment

Borrower 1 Total Years Employment Verified is Less Than 12 Months

Waived-Lender gratned exception for less than 12 months for secondary employment

see page 911 - Due Diligence Vendor-06/20/2023

no credit events past 48 months, borrower contribution exceeds required >=5%, reserves >6 months.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1013124

XXXXXXX-2023-NQM4-165

Closed

FCOM1227

2023-06-20 10:11

2023-07-06 10:34

Resolved

1 - Information

Compliance

Missing Doc

PUD Rider is Missing

Resolved-now present -rerecorded mtg with PUD Rider - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Please find attached - Seller-06/30/2023

Open-PUD Rider is Missing Deed is not checked nor is there any Rider present. - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please find attached - Seller-06/30/2023

Resolved-now present -rerecorded mtg with PUD Rider - Due Diligence Vendor-07/06/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1013225

XXXXXXX-2023-NQM4-165

Closed

FCRE1199

2023-06-20 10:47

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is greater than Guideline Maximum Loan Amount

Waived-Audited Loan Amount of $[redacted] is greater than the Guideline Maximum Loan Amount of $3000000 Lender exception page 1 to loan amount. Approved to maximum of [redacted] or [redacted] Lower of the two. - Due Diligence Vendor-06/20/2023

Waived-Audited Loan Amount of $[redacted] is greater than the Guideline Maximum Loan Amount of $3000000 Lender exception page 1 to loan amount. Approved to maximum of[redacted] or [redacted] Lower of the two. - Due Diligence Vendor-06/20/2023

DTI below 45%, DTI > 10% below program maximum, NO credit events past 48 months, No mortgage lates last 24 months, 5+ yr credit history, No consumer lates last 48 months, Credit score > 40 points above program minimum. Borrower contribution exceeds 5%, 12 months reserves are being required.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1013344

XXXXXXX-2023-NQM4-166

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-167

Closed

123ABJ

2023-06-21 06:12

2023-06-29 09:45

Resolved

1 - Information

Credit

Missing Doc

Missing VVOE dated within 10 days consummation

Resolved-VVOE now present. - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. See attached - Seller-06/28/2023

Open- - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. See attached - Seller-06/28/2023

Resolved-VVOE now present. - Due Diligence Vendor-06/29/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1014624

XXXXXXX-2023-NQM4-167

Closed

FCRE1182

2023-06-21 06:12

2023-06-23 11:04

Resolved

1 - Information

Credit

Missing Doc

Approval/Underwriting Summary Not Provided

Resolved-approval received. - Due Diligence Vendor-06/23/2023

Ready for Review-Document Uploaded. See attached - Seller-06/22/2023

Open-Missing Approval/Underwriting Summary - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. See attached - Seller-06/22/2023

Resolved-approval received. - Due Diligence Vendor-06/23/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1014620

XXXXXXX-2023-NQM4-167

Closed

FCRE1194

2023-06-21 06:12

2023-06-23 11:03

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Waiver for LTV exceeds allowable - Due Diligence Vendor-06/23/2023

Ready for Review-Document Uploaded. Exception already provided, under comments they added additional items for the exception as they had no room in the other entry field - Seller-06/22/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] limited review condo [redacted] [redacted] max LTV - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Exception already provided, under comments they added additional items for the exception as they had no room in the other entry field - Seller-06/22/2023

Waived-Waiver for LTV exceeds allowable - Due Diligence Vendor-06/23/2023

revolving debt under 30%, no lates in past 48 months, borrower contribution exceeds 5%

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

1014623

XXXXXXX-2023-NQM4-167

Closed

FCRE1437

2023-06-21 05:52

2023-06-23 11:02

Waived

2 - Non-Material

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Waived-waiver for less than 2 years self employed - Due Diligence Vendor-06/23/2023

Ready for Review-Document Uploaded. Exception already provided, under comments they added additional items for the exception as they had no room in the other entry field - Seller-06/22/2023

Open-Income and Employment Do Not Meet Guidelines Dont have 2 yrs as self employed. CPA letter page 661 and 1003 both state borrower owned business since 8/2021 - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Exception already provided, under comments they added additional items for the exception as they had no room in the other entry field - Seller-06/22/2023

Waived-waiver for less than 2 years self employed - Due Diligence Vendor-06/23/2023

revolving debt under 30%, no consumer lates in past 48, borrower contribution exceeds 5%

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

1014595

XXXXXXX-2023-NQM4-168

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-169

Closed

FCRE6843

2023-06-20 12:46

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception found on page 678

Can we please use cash out proceeds as reserves. We just need $5,135.23 total. And we also need an exception for loan mod documentation. LO said this doc is very old and she cannot find one. Thank you.

Approved with conditions of 0.25 in price for cash out, DSCR >1 required, Loan mod doc exception is not approved. - Due Diligence Vendor-06/20/2023

LTV 10% below max, revolving debt undrer 30%, no credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months. Credit score > 40 points than minimum required.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1013608

XXXXXXX-2023-NQM4-169

Closed

FCRE9580

2023-06-20 12:42

Waived

2 - Non-Material

Credit

Eligibility

Bankruptcy History does not meet guidelines

Waived-Exception found on page 677

Bankruptcy within last 24 months, One month left, please approve.

Approved with conditions of +0.5 to price, [redacted] ltv max, DSCR > 1, Still subject to loan mod calrification. - Due Diligence Vendor-06/20/2023

ltv 10% below max, revolving debt under 30%, no mortgage late payments last 24 months, 5+ years credit history, no consumer late payments last 48 monoths. Credit score > 40 points then min required.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1013601

XXXXXXX-2023-NQM4-170

Closed

FCRE4104

2023-06-21 11:26

2023-07-06 10:36

Resolved

1 - Information

Credit

Missing Doc

Missing explanation and supporting documentation for large deposit(s)

Resolved-proof of funds received. - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. docs see attached CD they did a Cash out refi with [redacted] and this is the source of the large deposit - Seller-07/03/2023

Counter-Disagree. Guides states that assets used for down payment, CC and reserves must be sourced and seasoned for 60 days- no provisions are made for DSCR. Sourcing funds is not just for DTI purposes.
- Due Diligence Vendor-06/26/2023

Ready for Review-This is a dscr loan, dti is not taken into consideration with this program. Please waive - Seller-06/23/2023

Open-LOX/Source is missing for the Large deposit for account#[redacted]. Refer - pg#75, Dated : 02/24 & amount $[redacted] - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. docs see attached CD they did a Cash out refi with [redacted] and this is the source of the large deposit - Seller-07/03/2023

Ready for Review-This is a dscr loan, dti is not taken into consideration with this program. Please waive - Seller-06/23/2023

Resolved-proof of funds received. - Due Diligence Vendor-07/06/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1015422

XXXXXXX-2023-NQM4-170

Closed

FCRE1194

2023-06-22 10:26

2023-07-06 10:35

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived- Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Borrower's FICO score is 699 and as per guide max LTV is
[redacted]
- Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. See attached - Seller-07/05/2023

Counter-this rate sheet you provided also states max ltv for a 699 score is [redacted] - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. see attached - Seller-06/28/2023

Counter-please provide pages 1 and 2 of DSCR rate sheet that is from time loan was locked that support this. we dont have this on page 2 of our DSCR rate sheet grid. - Due Diligence Vendor-06/26/2023

Ready for Review-Per guidelines, with a 680 FICO the max LTV is [redacted] for loan amounts not exceeding [redacted] - Seller-06/26/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Borrower's FICO score is 699 and as per guide max LTV is [redacted]. - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. See attached - Seller-07/05/2023

Ready for Review-Document Uploaded. see attached - Seller-06/28/2023

Ready for Review-Per guidelines, with a 680 FICO the max LTV is [redacted] for loan amounts not exceeding $1,500,000 - Seller-06/26/2023

Waived- Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Borrower's FICO score is 699 and as per guide max LTV is
[redacted]
- Due Diligence Vendor-07/06/2023

No mortgage late payments in last 24 months, 5+ years credit history
No mortgage late payments in last 24 months, 5+ years credit history, Other: specify below
DSCR>1

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1017662

XXXXXXX-2023-NQM4-171

Closed

FCRE5116

2023-06-20 11:57

2023-06-26 14:05

Resolved

1 - Information

Credit

Missing Doc

Missing VOM or VOR

Resolved-lender is [redacted] per [redacted] - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Document Uploaded.  - Seller-06/26/2023

Counter-we have this VOM.  but the 1003 says the loan is financed thru [redacted].  This VOM was completed by[redacted].  Need clarification - Due Diligence Vendor-06/23/2023

Ready for Review-Document Uploaded. VOM is good through till the next payment of 07/01/2023. Creditor/Lender name is [redacted] - Seller-06/23/2023

Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. app says mortgage on [redacted] is with [redacted].  VOR in file (page 525) is for another lender. Need [redacted] VOM - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/26/2023

Ready for Review-Document Uploaded. VOM is good through till the next payment of 07/01/2023. Creditor/Lender name is [redacted] - Seller-06/23/2023

Resolved-lender is [redacted] per [redacted]- Due Diligence Vendor-06/26/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1013506

XXXXXXX-2023-NQM4-171

Closed

FCRE9488

2023-06-20 12:12

2023-06-26 13:35

Resolved

1 - Information

Credit

Borrower

Potential Occupancy/Current Address Issues identified in the file

Resolved-lender addressed that borrower works from home - Due Diligence Vendor-06/26/2023

Ready for Review-Tenant has 60 days leave per assignment, also borrower works from home - please advise - Seller-06/23/2023

Open-Borrower is a wage earning job as a cosmetologist in PA, buying a O/O condo that is currently tenant occupied in [redacted]. Potential Fraud concerns as it is not addressed how the borrower will continue to work. Also final CD has assignment of rents from tenant to borrower which makes the file appear Non O/O - Due Diligence Vendor-06/22/2023

Ready for Review-Tenant has 60 days leave per assignment, also borrower works from home - please advise - Seller-06/23/2023

Resolved-lender addressed that borrower works from home - Due Diligence Vendor-06/26/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1013543

XXXXXXX-2023-NQM4-171

Closed

FCRE1319

2023-06-20 12:11

2023-06-26 13:20

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Personal Tax Returns Missing

Resolved-2021 returns supplied - Due Diligence Vendor-06/26/2023

Ready for Review-Tax returns submitted on other condition - Seller-06/23/2023

Open-Need 2 yr tax returns for 2 yr full doc since borrower was self employed and W2s are not available - Due Diligence Vendor-06/20/2023

Ready for Review-Tax returns submitted on other condition - Seller-06/23/2023

Resolved-2021 returns supplied - Due Diligence Vendor-06/26/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1013542

XXXXXXX-2023-NQM4-171

Closed

FCRE1173

2023-06-20 12:03

2023-06-23 08:23

Resolved

1 - Information

Credit

Missing Doc

Master Condo Insurance Policy is Missing

Resolved-HO-6 Master Insurance Policy is fully present - Due Diligence Vendor-06/23/2023

Resolved-screen shot present - Due Diligence Vendor-06/23/2023

Ready for Review-Document Uploaded. See attached - Seller-06/23/2023

Open-Missing Master Condo Insurance Policy unable to locate page wtih building coverage for condo - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. See attached - Seller-06/23/2023

Resolved-HO-6 Master Insurance Policy is fully present - Due Diligence Vendor-06/23/2023

Resolved-screen shot present - Due Diligence Vendor-06/23/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1013518

XXXXXXX-2023-NQM4-171

Closed

FCRE7009

2023-06-20 12:13

Waived

2 - Non-Material

Credit

Insurance

Hazard insurance dwelling coverage is not sufficient

Waived-Master policy has 10% wind deductible - Due Diligence Vendor-06/20/2023

Revolving debt under 30%, No credit events, no mortgage lates, no consumer lates past 48 months, contribution over 5%, reserves over 6 months
page 1120

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1013544

XXXXXXX-2023-NQM4-172

Closed

FCRE1317

2023-06-21 10:59

2023-07-06 10:41

Waived

2 - Non-Material

Credit

Income/Employment

Borrower 1 Total Years Employment Verified is Less Than 24 Months

Waived-Borrower business is open less than 2 years (self employed).
Comments We have the LOE yes, but we also have all the documentation that borrower’s business was the same
business in [redacted] when they lived in [redacted] and then when they moved to [redacted] they had to register their
business in [redacted]. We have the articles of incorporation for both [redacted] and [redacted] and all the dates line up showing
borrowers business was formed in [redacted] on 10/15/2019 and dissolved on 11/3/22 which was after they became a
permanent resident of [redacted]. - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Please see an Exception form in attachment - Seller-07/03/2023

Open-borrower business is open less than 2 years (self employed) - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Please see an Exception form in attachment - Seller-07/03/2023

Waived-Borrower business is open less than 2 years (self employed).
Comments We have the LOE yes, but we also have all the documentation that borrower’s business was the same
business in [redacted] when they lived in [redacted] and then when they moved to [redacted] they had to register their
business in [redacted]. We have the articles of incorporation for both [redacted] and [redacted] and all the dates line up showing
borrowers business was formed in [redacted] on [redacted] and dissolved on [redacted] which was after they became a
permanent resident of [redacted]. - Due Diligence Vendor-07/06/2023

No credit events past 48 months, No mortgage late payments in last 24 months, Reserves>6 months

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

1015331

XXXXXXX-2023-NQM4-172

Closed

FCOM1266

2023-06-20 13:40

2023-07-06 10:40

Resolved

1 - Information

Compliance

Missing Doc

Homeownership Counseling Disclosure Is Missing

Resolved-Housing disclosure present. - Due Diligence Vendor-07/06/2023

Resolved-Homeownership Counseling Disclosure Is Present or Not Applicable - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Please see Homeownership Counseling Disclosure in attachment. - Seller-06/29/2023

Open-Homeownership Counseling Disclosure Is Missing - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please see Homeownership Counseling Disclosure in attachment. - Seller-06/29/2023

Resolved-Housing disclosure present. - Due Diligence Vendor-07/06/2023

Resolved-Homeownership Counseling Disclosure Is Present or Not Applicable - Due Diligence Vendor-06/29/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1013742

XXXXXXX-2023-NQM4-172

Closed

50001251

2023-06-20 16:04

2023-07-06 10:39

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-COC provided. - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Please see COC in attachment - Seller-07/05/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). Loan discount fee is $0 in initial CD which is increased to $625 in revised CD. Need COC for the same - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please see COC in attachment - Seller-07/05/2023

Resolved-COC provided. - Due Diligence Vendor-07/06/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1013982

XXXXXXX-2023-NQM4-172

Closed

50001252

2023-06-20 16:04

2023-07-06 10:39

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-COC provided. - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Please see COC in attachment - Seller-07/05/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). Loan discount fee is $0 in initial CD which is increased to $625 in revised CD. Need COC for the same - Due Diligence Vendor-06/20/2023

Ready for Review-Document Uploaded. Please see COC in attachment - Seller-07/05/2023

Resolved-COC provided. - Due Diligence Vendor-07/06/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1013983

XXXXXXX-2023-NQM4-173

Closed

FCRE9991

2023-06-21 09:02

2023-06-22 13:46

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-Lender is not using estimated taxes but actual collected taxes. DSCR now matches (rounded up to 1.08) - Due Diligence Vendor-06/22/2023

Ready for Review-Per final CD, Final 1003 and First Payment Notification, PITIA is [redacted]. DSCR ratio is 1.077
- Seller-06/22/2023

Open-DSCR is 1.05 $1200 rent/$1142.90 PITIA - Due Diligence Vendor-06/21/2023

Ready for Review-Per final CD, Final 1003 and First Payment Notification, PITIA is [redacted] DSCR ratio is 1.077
- Seller-06/22/2023

Resolved-Lender is not using estimated taxes but actual collected taxes. DSCR now matches (rounded up to 1.08) - Due Diligence Vendor-06/22/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1014990

XXXXXXX-2023-NQM4-174

Closed

FCRE1319

2023-06-21 09:47

2023-06-28 08:22

Waived

2 - Non-Material

Credit

Missing Doc

Borrower 1 Personal Tax Returns Missing

Waived-waiver for missing 2 year transcripts - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. See attached - Seller-06/27/2023

Counter-2 yrs returns now present but still missing the transcripts - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Please try this attachment - Seller-06/23/2023

Counter-document is correct and failed to load - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. see attached - Seller-06/22/2023

Open-Borrower is 1099 (sch C) missing 2 yr tax returns and 2 yrs tax transcripts - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. See attached - Seller-06/27/2023

Ready for Review-Document Uploaded. Please try this attachment - Seller-06/23/2023

Ready for Review-Document Uploaded. see attached - Seller-06/22/2023

Waived-waiver for missing 2 year transcripts - Due Diligence Vendor-06/28/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Investor Post-Close

1015113

XXXXXXX-2023-NQM4-174

Closed

FCRE9991

2023-06-21 09:46

2023-06-26 14:02

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-L/A corrected - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. see attached - Seller-06/23/2023

Counter-need updated data tape, not a waiver. - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. See attached - Seller-06/22/2023

Open-Loan amount is $[redacted] - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. see attached - Seller-06/23/2023

Ready for Review-Document Uploaded. See attached - Seller-06/22/2023

Resolved-L/A corrected - Due Diligence Vendor-06/26/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

1015108

XXXXXXX-2023-NQM4-174

Closed

FCRE1201

2023-06-21 09:34

2023-06-26 13:48

Resolved

1 - Information

Credit

Missing Doc

Third Party Fraud Report not Provided

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-06/26/2023

Resolved-FG now present - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/23/2023

Counter-document corrupted and wont load - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. see attached - Seller-06/22/2023

Open-Missing Third Party Fraud Report missing - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/23/2023

Ready for Review-Document Uploaded. see attached - Seller-06/22/2023

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-06/26/2023

Resolved-FG now present - Due Diligence Vendor-06/26/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

1015072

XXXXXXX-2023-NQM4-174

Closed

FCRE1200

2023-06-21 09:45

2023-06-22 14:57

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-waiver for loan amount below minimum - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. See attached - Seller-06/22/2023

Open-Audited Loan Amount of [redacted] is less than the Guideline Minimum Loan Amount of $100000 - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. See attached - Seller-06/22/2023

Waived-waiver for loan amount below minimum - Due Diligence Vendor-06/22/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Investor Post-Close

1015101

XXXXXXX-2023-NQM4-174

Closed

FCRE9068

2023-06-21 09:46

2023-06-22 14:54

Waived

2 - Non-Material

Credit

Eligibility

Borrower does not meet residual income requirement

Waived-waiver for residual income not meeting - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/22/2023

Open-Residual income less than $2000 - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/22/2023

Waived-waiver for residual income not meeting - Due Diligence Vendor-06/22/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Investor Post-Close

1015106

XXXXXXX-2023-NQM4-174

Closed

FCRE1194

2023-06-21 09:45

2023-06-22 14:53

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Waiver for LTV exceeding guidelines - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/22/2023

Open-Audited LTV of 98.19% exceeds Guideline LTV of [redacted] [redacted] max LTV bc rural - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/22/2023

Waived-Waiver for LTV exceeding guidelines - Due Diligence Vendor-06/22/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Investor Post-Close

1015102

XXXXXXX-2023-NQM4-174

Closed

FCRE1501

2023-06-21 09:33

2023-06-22 14:35

Waived

2 - Non-Material

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Waived-waiver for insufficient reserves - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/22/2023

Open-Total Qualified Assets for Reserves Post-Close of $706.51 is less than Total Required Reserve Amount of $1825.98 purchase and does not have enough assets for reserves after cash to close - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/22/2023

Waived-waiver for insufficient reserves - Due Diligence Vendor-06/22/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

Investor Post-Close

1015069

XXXXXXX-2023-NQM4-174

Closed

FCRE1182

2023-06-21 09:45

2023-06-22 14:32

Resolved

1 - Information

Credit

Missing Doc

Approval/Underwriting Summary Not Provided

Resolved-approval now present. - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/22/2023

Ready for Review-Document Uploaded. - Seller-06/22/2023

Open-Missing Approval/Underwriting Summary - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/22/2023

Ready for Review-Document Uploaded. - Seller-06/22/2023

Resolved-approval now present. - Due Diligence Vendor-06/22/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

1015098

XXXXXXX-2023-NQM4-175

Closed

FCRE1493

2023-06-21 12:29

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-waiver for 2 trades lines for 12 months only - Due Diligence Vendor-06/21/2023

Revolving debt is under 30%, 5 years on current job, 10 years or more in same line of employment, Borrower contribution exceeds
requirement >=5%
page 728

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1015643

XXXXXXX-2023-NQM4-176

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-177

Closed

50001251

2023-06-22 09:45

2023-06-27 09:32

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-COC provided. - Due Diligence Vendor-06/27/2023

Resolved-Resolved - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. Please, find the COC attached. Thank you! - Seller-06/26/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). Please provide COC for Loan Discount Fee in the Revised CD dated 06/13/2023 Loan Discount Fee $999.38,( pg.# 176 of 757) but on Final CD - dated : 06/20/2023 , Loan Discount Fee for $1306.88 (Pg.# 198 of 757) - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please, find the COC attached. Thank you! - Seller-06/26/2023

Resolved-COC provided. - Due Diligence Vendor-06/27/2023

Resolved-Resolved - Due Diligence Vendor-06/27/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1017517

XXXXXXX-2023-NQM4-177

Closed

50001252

2023-06-22 09:45

2023-06-27 09:32

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-COC provided. - Due Diligence Vendor-06/27/2023

Resolved-Resolved - Due Diligence Vendor-06/27/2023

Ready for Review-Please, find the COC uploaded. Thank you! - Seller-06/26/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). - Due Diligence Vendor-06/22/2023

Ready for Review-Please, find the COC uploaded. Thank you! - Seller-06/26/2023

Resolved-COC provided. - Due Diligence Vendor-06/27/2023

Resolved-Resolved - Due Diligence Vendor-06/27/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1017518

XXXXXXX-2023-NQM4-177

Closed

FPRO116

2023-06-22 05:27

2023-06-22 05:35

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Single entity owns 4 out of 15 units > 10%. Exception page 753 - Due Diligence Vendor-06/22/2023

No consumer late payments last 48 months, Credit Score >40 points above program minimum, 5+ yrs on secondary job (not used to qualify), DTI > 10% below program maximum of full doc loan.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1016887

XXXXXXX-2023-NQM4-178

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-179

Closed

FCRE5770

2023-06-21 11:07

2023-06-23 11:29

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Credit Report is Missing

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-06/23/2023

Ready for Review-Document Uploaded. Please, find the Credit report attached. Thank you! - Seller-06/23/2023

Open-Borrower 1 Credit Report is Missing. - Due Diligence Vendor-06/21/2023

Ready for Review-Document Uploaded. Please, find the Credit report attached. Thank you! - Seller-06/23/2023

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-06/23/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1015351

XXXXXXX-2023-NQM4-180

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-181

Closed

FCRE6843

2023-06-21 13:27

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception found on page 18

Hi Team, please allow to use the CPA email along with the CPA letter (both attached) for the condition to confirm the use of business funds.

Approved as is
- Due Diligence Vendor-06/21/2023

Revolving debt is under 30%, Residual income >=$3000, No credit events past 48 months, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1015864

XXXXXXX-2023-NQM4-181

Closed

FCRE5802

2023-06-21 13:26

Waived

2 - Non-Material

Credit

Eligibility

Cash reserves less than required by guidelines

Waived-Exception found on page 17

Hi Team, need an exception on condo capital reserves. It is 5.5% on this file - please see the budget attached.
Thank you!

Approved with condtions +0.5 in rate, max LTV 85, CUW value review required - Due Diligence Vendor-06/21/2023

Revolving debt is under 30%, Residual income >=$3000, No credit events past 48 months, No mortgage late payments in last 24
months, 5+ years credit history, LTV 10% below maximum

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1015857

XXXXXXX-2023-NQM4-182

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

XXXXXXX-2023-NQM4-183

Closed

FCRE1200

2023-06-21 15:11

2023-06-27 09:37

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception Type :- Material: Credit, Loan Amount
Short Description :- Exception for Fico, Loan Amount and DSCR>.75
Comments :- Hello Team, this is a great loan with a good borrower. Requesting guideline exception. This borrower has established credit and experienced investor, LTV of [redacted]. This is a DSCR Purchase and exception is due to fico of 667 loan amount not exceeding 100k with DSCR>.75. Attached is a copy of the credit report, contract, appraisal and 1003.Thank you for your consideration on this request
Exception form available on page no 8 of 98. (AN) - Due Diligence Vendor-06/21/2023

Experienced investor with 2+ investment properties, Revolving debt is under 30%, No credit events past 48 months, 5+ years credit
history, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1016238

XXXXXXX-2023-NQM4-183

Closed

FCRE8800

2023-06-23 13:26

2023-06-27 09:37

Resolved

1 - Information

Credit

Eligibility

Compensating Factors are insufficient to approve Exception Waiver

Resolved-updated comp factors provided - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. Please find updated Exception form attached - Seller-06/27/2023

Open-Per mortgage statement there is a mortgage overdue payment - this is considered a recent late. need a new comp factor - Due Diligence Vendor-06/23/2023

Ready for Review-Document Uploaded. Please find updated Exception form attached - Seller-06/27/2023

Resolved-updated comp factors provided - Due Diligence Vendor-06/27/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1020801

XXXXXXX-2023-NQM4-184

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

XXXXXXX-2023-NQM4-185

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-186

Closed

FCRE6763

2023-06-22 10:27

2023-06-22 10:32

Waived

2 - Non-Material

Credit

Income/Employment

Income documentation does not meet guidelines

Waived-Document Uploaded. Exception (page 313-313) proceed on Personal Bank Statements for income while one of acct holder not on loan. Wife not bringing income, letter of access from wife page 243-329. Approved with conditions +0.25 to Rate, Exclude Wife's income. - Due Diligence Vendor-06/22/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1017664

XXXXXXX-2023-NQM4-186

Closed

FCRE1219

2023-06-22 10:13

2023-06-22 10:16

Waived

2 - Non-Material

Credit

Borrower

Borrower signed as a Type of Party Not Allowed by the Loan Program

Waived-Document Uploaded. Exception for ITIN Borrower -- approved with conditions to +0.375 to Rate, Need 1 form of ID (Passport pg 329-329), No POA - Due Diligence Vendor-06/22/2023

5 years on current job, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1017625

XXXXXXX-2023-NQM4-187

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-188

Closed

FCRE6843

2023-06-22 06:07

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Bank changed during last 24 months.
Comments The service in the [redacted] bank Branch that [redacted] was working with got horrendous and they opened a new
account with [redacted]. The DID CLOSE the [redacted] account like we always asked the Borrowers. The fees were much
lower too. So, that was [redacted] pure business decision - Due Diligence Vendor-06/22/2023

Residual income >=$3000, No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late
payments in last 48 months, Borrower contribution exceeds requirement >=5%
page 115/115

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1016933

XXXXXXX-2023-NQM4-189

Closed

50001251

2023-06-22 11:05

2023-07-07 12:32

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-COC provided - Due Diligence Vendor-07/07/2023

Resolved-Resolved - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Please see COC in attachment - Seller-07/07/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Credit Report Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please see COC in attachment - Seller-07/07/2023

Resolved-COC provided - Due Diligence Vendor-07/07/2023

Resolved-Resolved - Due Diligence Vendor-07/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1017763

XXXXXXX-2023-NQM4-189

Closed

50001252

2023-06-22 11:05

2023-07-07 12:32

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-COC provided - Due Diligence Vendor-07/07/2023

Resolved-Resolved - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Please see COC in attachment - Seller-07/07/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Credit Report Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). Please provide COC for Credit Report in the Initial CD dated 06/13/2023 Credit Report $100.00,( pg.# 219 of 344) but on Final CD - dated : 06/16/2023 ,Credit Report for $115.00 (Pg.# 1 of 128) - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please see COC in attachment - Seller-07/07/2023

Resolved-COC provided - Due Diligence Vendor-07/07/2023

Resolved-Resolved - Due Diligence Vendor-07/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1017764

XXXXXXX-2023-NQM4-189

Closed

FCOM4766

2023-06-22 11:33

2023-07-07 12:29

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate Transaction Section

Resolved-received electronic proof - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Please see evidence that Revised Loan Estimate issues on 06/12/2023 was sent electronically in attachment - Seller-07/07/2023

Open-For LE: Provide evidence that Revised Loan Estimate issues on 06/12/2023 was sent electronically
" - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please see evidence that Revised Loan Estimate issues on 06/12/2023 was sent electronically in attachment - Seller-07/07/2023

Resolved-received electronic proof - Due Diligence Vendor-07/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1017920

XXXXXXX-2023-NQM4-190

Closed

FCRE7810

2023-06-21 15:04

Waived

2 - Non-Material

Credit

Title

Title issue

Waived-Exception found on page 88

Seasoning on title less than 6 months
Theis another case where the original title holder remains on title while borrower was added Need approved exception as is please Need to get the exception while UW are being informed that this should be okay and not condition for it Again if using the QC rule for under 65 LTV this should be okay also

Approved with conditions of value review required, 45 LTV max - Due Diligence Vendor-06/21/2023

No credit events past 48 months, LTV 10% below maximum, Credit score >40 points than minimum required

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1016219

XXXXXXX-2023-NQM4-191

Closed

FCRE6843

2023-06-21 18:23

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-9 NSFs - Due Diligence Vendor-06/22/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1016509

XXXXXXX-2023-NQM4-192

Closed

FCOM1526

2023-06-22 10:18

2023-07-07 12:33

Resolved

1 - Information

Compliance

State Reg

[redacted] Home Equity and Acknowledgement of Fair Market Value was not signed by both the owner and the lender

Resolved-executed by lender now present - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Please see signed [redacted] home equity and acknowledgement of fair market value in attachment - Seller-07/07/2023

Open-Page 117. Not executed by Lender. - Due Diligence Vendor-06/22/2023

Ready for Review-Document Uploaded. Please see signed [redacted] home equity and acknowledgement of fair market value in attachment - Seller-07/07/2023

Resolved-executed by lender now present - Due Diligence Vendor-07/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1017636

XXXXXXX-2023-NQM4-193

Closed

FCRE9942

2023-06-26 10:39

2023-07-07 12:36

Resolved

1 - Information

Credit

Missing Doc

Missing Income - Business Tax Returns

Resolved-agree with lender explanation - Due Diligence Vendor-07/07/2023

Ready for Review-Both of these businesses are operating at a loss on the 1040s. We are not using income from these businesses. Underwriter just included the loss from the 1040s, which we are allowed to do. We don’t need K-1s. - Seller-07/07/2023

Open-Form K1 is missing in file for [redacted] - Due Diligence Vendor-06/26/2023

Ready for Review-Both of these businesses are operating at a loss on the 1040s. We are not using income from these businesses. Underwriter just included the loss from the 1040s, which we are allowed to do. We don’t need K-1s. - Seller-07/07/2023

Resolved-agree with lender explanation - Due Diligence Vendor-07/07/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1022857

XXXXXXX-2023-NQM4-193

Closed

FVAL9739

2023-06-22 13:42

2023-06-22 13:43

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type ;- Material: Title
Short Description :- Single entity owns 31%
Comments :- Hi team! A single entity [redacted] [redacted] LLC currently owns 145 out of 460 units in the project
(approximately 31%). Asking for green light to proceed with the property. Please, approve as-is or with min hit if
possible. Thank you!
Exception form available on page no 419 of 420 - Due Diligence Vendor-06/22/2023

5 years on current job, DTI >=10% lower than loan program, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1018454

XXXXXXX-2023-NQM4-193

Closed

FCRE1174

2023-06-22 13:41

Waived

2 - Non-Material

Credit

Missing Doc

Master Condo Insurance Policy is Partial

Waived-Exception Type :- Material: Title
Short Description :- Deductible >5%
Comments :- Hi team! Max deductible exceeds 5% in the Master Policy. It's at 7.5%. They'll actually need a Court Order to
do any changes to the Master Policy. Asking for an exception to proceed as-is. Please, advise. Thank you!
Exception form available on page no 418 of 420 - Due Diligence Vendor-06/22/2023

5 years on current job, DTI >=10% lower than loan program, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1018448

XXXXXXX-2023-NQM4-194

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-195

Closed

FCRE1182

2023-06-23 08:38

2023-07-20 09:28

Resolved

1 - Information

Credit

Missing Doc

Approval/Underwriting Summary Not Provided

Resolved-received approval - Due Diligence Vendor-07/20/2023

Ready for Review-Please, review the documents attached. Thank you! - Seller-07/19/2023

Open-Missing Approval/Underwriting Summary Approval / Underwriting Summary and 1008 both the documents are missing in the file. - Due Diligence Vendor-06/23/2023

Ready for Review-Please, review the documents attached. Thank you! - Seller-07/19/2023

Resolved-received approval - Due Diligence Vendor-07/20/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1020088

XXXXXXX-2023-NQM4-195

Closed

FCRE3464

2023-06-26 13:36

2023-07-20 08:55

Resolved

1 - Information

Credit

Missing Doc

Missing Closing/Final Verbal VOE

Resolved-new paystub received - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please, find attached the Paycheck as of 6/10/2023 in the name of borrower 1. Thank you! - Seller-07/19/2023

Open-Missing VVOE for B1 - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Please, find attached the Paycheck as of 6/10/2023 in the name of borrower 1. Thank you! - Seller-07/19/2023

Resolved-new paystub received - Due Diligence Vendor-07/20/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1023274

XXXXXXX-2023-NQM4-195

Closed

FCRE8450

2023-06-26 13:41

2023-07-20 08:44

Resolved

1 - Information

Credit

Income/Employment

Rental Income not supported

Resolved-lender addressed computer glitch - Due Diligence Vendor-07/20/2023

Ready for Review-Please, disregard it since the rent amount appeared due to the IT glitch. All the documentation signed by borrowers supports the occupancy Owner Occupied. Thank you! - Seller-07/19/2023

Open-Please address why final 1003 has $3800 gross rents for subject property when this was an OO purchase? - Due Diligence Vendor-06/26/2023

Ready for Review-Please, disregard it since the rent amount appeared due to the IT glitch. All the documentation signed by borrowers supports the occupancy Owner Occupied. Thank you! - Seller-07/19/2023

Resolved-lender addressed computer glitch - Due Diligence Vendor-07/20/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1023288

XXXXXXX-2023-NQM4-196

Closed

FCRE7532

2023-06-23 08:58

2023-06-23 08:59

Waived

2 - Non-Material

Credit

Eligibility

Qualifying Credit Score does not meet eligibility requirement(s)

Waived-Lender granted exception for Borrower 1 FICO 708 Borrower 2 FICO 0 no derogatory credit

see page 147 and 527 - Due Diligence Vendor-06/23/2023

5 years on current job, No consumer late payments in last 48 months, LTV 10% below maximum

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1020166

XXXXXXX-2023-NQM4-197

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-198

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-199

Closed

FCRE1194

2023-06-22 11:52

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Exception on page 907

LTV 90 at 704 score
cost rapid rescore excessive, strong borrower, see all attached; seeking 90 LTV purchase primary

Approved with conditions +0.25 to the rate, 6 months reserves required - Due Diligence Vendor-06/22/2023

Several income sources and DTI below 45%, Revolving debt is under 30%, 5 years on current job, DTI >=10% lower than loan program, 10 years or more in same line of employment, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Borrower contribution exceeds requirement >=5%, Reserves>6 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1018003

XXXXXXX-2023-NQM4-200

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-201

Closed

FCRE7375

2023-06-23 06:25

Waived

2 - Non-Material

Credit

Borrower

[redacted]zenship Does Not Meet Guideline Requirements

Waived-ITIN
Comments Please disregard the field "Type of Exception". Borrower is ITIN, please approve. - Due Diligence Vendor-06/23/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months,
Credit score >40 points than minimum required
Page 553

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

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

Originator Pre-Close

Yes

1019723

XXXXXXX-2023-NQM4-202

Closed

FCOM3286

2023-06-24 11:00

2023-06-29 10:11

Resolved

1 - Information

Compliance

TRID

Final CD: Closing Cost Detail aggregate amounts for borrower paid fees is missing or inaccurate

Resolved-page 3 now present - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Please find attached - Seller-06/28/2023

Open-Final CD (page13 signed) missing page 2 of 5 - Closing Cost Details. - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Please find attached - Seller-06/28/2023

Resolved-page 3 now present - Due Diligence Vendor-06/29/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1021337

XXXXXXX-2023-NQM4-202

Closed

FCRE9802

2023-06-24 09:47

2023-06-24 09:48

Waived

2 - Non-Material

Credit

Eligibility

Borrower is First Time Homebuyer and Program Does Not Allow This

Waived-Borrower cannot be first time homebuyer for this program Document Uploaded. Exception for Non-owner primary residence or REO within past 24 mos required for DSCR Loan program - approved with conditions to +1 Price, [redacted] LTV max, DSCR<=1, Min 3Y PPP - Due Diligence Vendor-06/24/2023

2+ borrowers on the loan, No credit events past 48 months, No consumer late payments in last 48 months, Credit score >40 points than minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1021299

XXXXXXX-2023-NQM4-203

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-204

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-205

Closed

FCRE1182

2023-06-23 10:15

2023-06-29 10:32

Resolved

1 - Information

Credit

Missing Doc

Approval/Underwriting Summary Not Provided

Resolved-1008 provided - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. see attached - Seller-06/28/2023

Open-Missing Approval/Underwriting Summary No 1008 or final approval - last initial approval is on page 637 - Due Diligence Vendor-06/23/2023

Ready for Review-Document Uploaded. see attached - Seller-06/28/2023

Resolved-1008 provided - Due Diligence Vendor-06/29/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1020330

XXXXXXX-2023-NQM4-205

Closed

FCRE5802

2023-06-23 10:03

Waived

2 - Non-Material

Credit

Eligibility

Cash reserves less than required by guidelines

Waived-Page 636 -Lender Exception to permit cash out for reserves. In file, Bwr has 1.22 months. - Due Diligence Vendor-06/23/2023

Dti below 45%, 10 yrs same line of employment, Low LTV at [redacted], Revolving debt under 30%.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1020294

XXXXXXX-2023-NQM4-206

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-207

Closed

FCRE9500

2023-06-26 17:12

2023-07-26 10:36

Resolved

1 - Information

Credit

Missing Doc

Missing Letter of Explanation (Assets)

Resolved-Resolved per email from investor managment - Due Diligence Vendor-07/26/2023

Ready for Review-Document Uploaded. Please see attached, please waive according to the email - Seller-07/25/2023

Open-Large deposit on page#128 for $5,950 dated 12/08/2022 needs sourced. This is the statement where the $8000 EMD was drawn from. - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Please see attached, please waive according to the email - Seller-07/25/2023

Resolved-Resolved per email from investor managment - Due Diligence Vendor-07/26/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1023687

XXXXXXX-2023-NQM4-207

Closed

FCRE6843

2023-06-26 17:03

2023-07-11 08:59

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-title confirmed receipt  - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. Please see email directly from title agent - Seller-07/11/2023

Counter-Marelisa gift funds-this does not prove sent to title and the $1500 zelle was sent to [redacted], not title.  [redacted] Gift funds cleared.  Need proof that [redacted] $8k gift was sent to title.  A letter from title company that they received 8k from [redacted] will work - Due Diligence Vendor-06/30/2023

Ready for Review-Document Uploaded. Attached is what I found in the closing package - zelle transfers to his business account and a check - let me know if you need anything else - Seller-06/29/2023

Counter-this is not proof of the donor transfers for the 2 gifts of $8000 , totaling $16k (See CD)  Need proof that each donor gave their gift funds to title (copies of wire transfers will suffice)  - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. see attached - Seller-06/28/2023

Open-Please provide source of Gift amount provided of $8k each from both the donor(s) reflecting on the Final CD.
Note: Gift LOX - pg.#112 & 120 - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Please see email directly from title agent - Seller-07/11/2023

Ready for Review-Document Uploaded. Attached is what I found in the closing package - zelle transfers to his business account and a check - let me know if you need anything else - Seller-06/29/2023

Ready for Review-Document Uploaded. see attached - Seller-06/28/2023

Resolved-title confirmed receipt - Due Diligence Vendor-07/11/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1023676

XXXXXXX-2023-NQM4-207

Closed

FCRE4866

2023-06-26 08:05

Waived

2 - Non-Material

Credit

Eligibility

Original CLTV does not meet eligibility requirement(s)

Waived-Exception Type :- Material : LTV
Short Description :- Requesting an extra 5% LTV
Comments :- [redacted] sister was going to gift him the addition funds and now doesn't have it all. [redacted] is an established business owner, That when I started working with him in November had a 728 credit score - dipped a few point due to mortgage shopping and the time took to find a place so credit had to be rerun. [redacted] had 13K dollars in November and has saved up to 27K in just a few months. He opened his business in 2019. Has a successful business with year over year growth.
Excepting form Page no - 853 - Due Diligence Vendor-06/26/2023

Waived-Exception Type :- Material : LTV
Short Description :- Requesting an extra 5% LTV
Comments :- [redacted] sister was going to gift him the addition funds and now doesn't have it all.[redacted] is an established business owner, That when I started working with him in November had a 728 credit score - dipped a few point due to mortgage shopping and the time took to find a place so credit had to be rerun. [redacted] had 13K dollars in November and has saved up to 27K in just a few months. He opened his business in 2019. Has a successful business with year over year growth.
Excepting form Page no - 853 - Due Diligence Vendor-06/26/2023

Revolving debt is under 30%, No credit events past 48 Months, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1022378

XXXXXXX-2023-NQM4-207

Closed

FVAL9739

2023-06-26 07:56

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :- Material : Title
Short Description :- Single entity owns more than 2
Comments :- Approval exception required for the following: A single entity owning 3 units in a project with less than 20 units, Attach is the full review questionnaire
Exception form -- page 852 - Due Diligence Vendor-06/26/2023

Several Income Source and DTI below 45%, DTI >=10% Lower than the program, No credit events past 48 Months, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1022337

XXXXXXX-2023-NQM4-207

Closed

FVAL1310

2023-06-26 07:51

Waived

2 - Non-Material

Property

Missing Doc

Missing HOA/Condo Certification

Waived-Exception Type :- Material : Reserves
Short Description :- HOA reserves budget
Comments :- Estimate 2023 Budget received and does not include reserves allocation. Provide either. 1. Approval 2023 budget with sufficient reserves allocation OR 2. Approval exception waiving form this requirement
Exception form page no 850 - Due Diligence Vendor-06/26/2023

Several Income Source and DTI below 45%, Revolving debt is under 30%, Borrower contribution exceeds requirement >=5%, This is the last condition that came up on this file before we can move to QC

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1022317

XXXXXXX-2023-NQM4-208

Closed

FCRE1198

2023-06-26 09:04

2023-06-26 11:25

Waived

2 - Non-Material

Credit

Eligibility

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

Waived-Audited Reserves of 0.57 month(s) are less than Guideline Required Reserves of 3 month(s) Exception Type:-Reserves
Short Description:- cash out for reserves
Hi Team, need an exception on using cash out for reserves. Cash out amount will be 6m PITI.
Page no 859
- Due Diligence Vendor-06/26/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1022540

XXXXXXX-2023-NQM4-209

Closed

FCRE8705

2023-06-27 09:34

Waived

2 - Non-Material

Credit

Eligibility

Excessive Seller Contributions

Waived-Assets:- Seller concessions exceed 4%
Comments:- Borrower is requesting to approve 6.5% seller concessions so he will have extra reserves. Attached amendment for seller concessions.
Exception Form : Pg.# 162 of 641
- Due Diligence Vendor-06/27/2023

Several income sources and DTI below 45%, Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1024584

XXXXXXX-2023-NQM4-210

Closed

FVAL1039

2023-06-27 12:23

2023-07-07 12:43

Resolved

1 - Information

Property

Value

Appraised value unsupported

Resolved-AVM supports now present - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. We have 2 avm reports, it should have been merged already. Please see attached one which covered the value. - Seller-07/07/2023

Open-CU score is 3.3 and AVM is off by 10%. - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. We have 2 avm reports, it should have been merged already. Please see attached one which covered the value. - Seller-07/07/2023

Resolved-AVM supports now present - Due Diligence Vendor-07/07/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1025002

XXXXXXX-2023-NQM4-210

Closed

FCRE1764

2023-06-27 12:26

2023-07-07 12:39

Resolved

1 - Information

Credit

Missing Doc

Missing Verification of Mortgage

Resolved-new loan lender accepted bank statement for proof of payment made - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Please see the comment from sr UW: I received the bank statement showing that new mortgage payment was made (p.3 of the attached statement, which should have been merged earlier). It’s also acceptable to proof mortgage payments by showing withdrawals from the bank statement, and can be accepted instead of VOM. Thank you. - Seller-07/07/2023

Open-New mortgage which was not declared but found in the fruadguard report. Refer page#274 and also mentioned VOM requested. But there is no supporting document found.
Note: 8905 property for $160,650.00 - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. Please see the comment from sr UW: I received the bank statement showing that new mortgage payment was made (p.3 of the attached statement, which should have been merged earlier). It’s also acceptable to proof mortgage payments by showing withdrawals from the bank statement, and can be accepted instead of VOM. Thank you. - Seller-07/07/2023

Resolved-new loan lender accepted bank statement for proof of payment made - Due Diligence Vendor-07/07/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1025006

XXXXXXX-2023-NQM4-211

Closed

FCRE5770

2023-06-26 09:42

2023-07-07 12:50

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Credit Report is Missing

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Credit report should have been merged, but it wasn't somehow, apologies. Please see attached - Seller-07/07/2023

Open-Borrower 1 Credit Report is Missing. - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Credit report should have been merged, but it wasn't somehow, apologies. Please see attached - Seller-07/07/2023

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-07/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

N/A

1022662

XXXXXXX-2023-NQM4-212

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-213

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-214

Closed

FCOM4227

2023-06-26 09:48

2023-07-07 12:58

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-received revised Closing Disclosure issues on 06/19/2023 was sent electronically - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/07/2023

Open-Provide evidence that Revised Closing Disclosure issues on 06/19/2023 was sent electronically - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/07/2023

Resolved-received revised Closing Disclosure issues on 06/19/2023 was sent electronically - Due Diligence Vendor-07/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1022696

XXXXXXX-2023-NQM4-215

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-216

Closed

FCRE0360

2023-06-26 06:28

2023-08-15 08:56

Waived

2 - Non-Material

Credit

Borrower

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete

Waived-Allow to proceed without 3 months cancelled checks for private mortgage on [redacted] property
- Due Diligence Vendor-08/15/2023

Ready for Review-Document Uploaded. Please see exception for in attachment - Seller-08/15/2023

Counter-Attached is not VOM - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Please see VOM in attachment - Seller-07/31/2023

Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. missing 3 months cancelled checks for private mortgage on [redacted] property - Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. Please see exception for in attachment - Seller-08/15/2023

Ready for Review-Document Uploaded. Please see VOM in attachment - Seller-07/31/2023

Waived-Allow to proceed without 3 months cancelled checks for private mortgage on [redacted] property
- Due Diligence Vendor-08/15/2023

Compensating Factors
5 years on current job, Residual income >=$3000, No credit events past 48 months, No consumer late payments in last 48 months,
Reserves>6 months

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

1022145

XXXXXXX-2023-NQM4-216

Closed

123ABJ

2023-06-26 06:55

2023-08-02 09:21

Resolved

1 - Information

Credit

Missing Doc

Missing VVOE dated within 10 days consummation

Resolved-June bus account provided and show active. - Due Diligence Vendor-08/02/2023

Ready for Review-Bank Statements with transactions within 30 days can be used as verification of employment for self-employment according to our GL - Seller-08/01/2023

Counter-Not seeing VOE - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Please see bank statements as VVOE in attachment - Seller-07/31/2023

Open- - Due Diligence Vendor-06/26/2023

Ready for Review-Bank Statements with transactions within 30 days can be used as verification of employment for self-employment according to our GL - Seller-08/01/2023

Ready for Review-Document Uploaded. Please see bank statements as VVOE in attachment - Seller-07/31/2023

Resolved-June bus account provided and show active. - Due Diligence Vendor-08/02/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1022173

XXXXXXX-2023-NQM4-216

Closed

FCRE9991

2023-06-26 06:53

2023-07-19 10:06

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-lender counting a reo not closed yet. DTI now matches after adding this in - Due Diligence Vendor-07/19/2023

Ready for Review-DTI should be 12.66. Income is [redacted]. Debts total [redacted] PITIA plus $573 from credit plus $608 for rental plus $3000 PI for another loan=[redacted]/[redacted]= 12.66% - Seller-07/18/2023

Open-DTI is 6.29. Income is [redacted] Debts total $1784.21 PITIA plus $573 from credit plus $608 for rental= $[redacted]/ [redacted]= 6.29% - Due Diligence Vendor-06/26/2023

Ready for Review-DTI should be 12.66. Income is $[redacted] Debts total $[redacted] PITIA plus $573 from credit plus $608 for rental plus $3000 PI for another loan= [redacted][redacted]= 12.66% - Seller-07/18/2023

Resolved-lender counting a reo not closed yet. DTI now matches after adding this in - Due Diligence Vendor-07/19/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1022170

XXXXXXX-2023-NQM4-217

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-218

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-219

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-220

Closed

FCRE6843

2023-06-27 07:01

2023-07-10 08:49

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-proof title has EMD - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Please see the proof of receipt from Title - Seller-07/10/2023

Open-proof donor transferred and title company received Earnest Money. have gift letter and bank statement from donor but no proof the 24k went to title or was received by title - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. Please see the proof of receipt from Title - Seller-07/10/2023

Resolved-proof title has EMD - Due Diligence Vendor-07/10/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1024170

XXXXXXX-2023-NQM4-220

Closed

FCOM3605

2023-06-27 09:15

2023-07-07 13:05

Resolved

1 - Information

Compliance

TRID

TRID: CD not delivered at least 3 days prior to consummation

Resolved-proof CD sent now present - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/07/2023

Open-provide evidence that Revised Closing Disclosure issues on 06/16/2023 was sent electronically
- Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/07/2023

Resolved-proof CD sent now present - Due Diligence Vendor-07/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1024536

XXXXXXX-2023-NQM4-221

Closed

FCRE8459

2023-06-26 15:38

2023-08-10 11:08

Resolved

1 - Information

Credit

Eligibility

Borrower Entity Ownership does not meet guidelines

Resolved-Document Uploaded. Lender provided additional information relevant to the Certificate of Trust which was signed by an attorney as trustee indicating Borrower is a beneficiary of the Trust and Trust has powers necessary. Finding is resolved. - Due Diligence Vendor-08/10/2023

Counter-The vesting LLC is owned by a Revocable Trust. A Certificate of Trust was provided in lieu of the Trust documents. The Certificate of Trust does not meet the guideline requirements. Section 10.3.1 states "The primary beneficiary of the trust must be the individual{s) who are establishing the trust." Further "The trustee must have the power to hold the title and mortgage the property. This must be specified in the trust." and the docuemnt is silent as to the beneficiary so there is no way to confirm the Borrower is in fact a beneficiary. - Due Diligence Vendor-08/01/2023

Counter-page 3 of Operating Agreements shows [redacted] as owner of LLC. need entity docs for[redacted] - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. CPA letter for LLC with ownership percentage can be found on page 139 [redacted] - Seller-07/05/2023

[redacted] is in the name of LLC and the complete Operating Agreement with Ownership Breakdown or Addendum or the articles of association document is missing.
- Due Diligence Vendor-06/26/2023

Ready for Review-Document Uploaded. CPA letter for LLC with ownership percentage can be found on page 139[redacted] - Seller-07/05/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1023574

XXXXXXX-2023-NQM4-222

Closed

FCRE6843

2023-06-26 10:55

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception found on page 6

Please disregard the field Assets. Borrower is ITIN, please approve

Approved with conditions national passport & ITIN letter from IRS required, cannot use POA, 0.5 to the rate, full value review required. May cap the loan amount if we
do not agree with the appraisal. - Due Diligence Vendor-06/26/2023

5 years on current job, No credit events past 48 months, No consumer late payments in last 48 months, Credit score >40 points than minimum required no mtg late payments in last 12 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

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

Originator Pre-Close

Yes

1022879

XXXXXXX-2023-NQM4-223

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-224

Closed

FCRE5275

2023-06-28 08:57

Waived

2 - Non-Material

Credit

Eligibility

Asset do not meet guidelines

Waived-Lender granted exception for gift fund on the WVOE loan program

See page 87 - Due Diligence Vendor-06/28/2023

Residual income >=$3000, No credit events past 48 months, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1026546

XXXXXXX-2023-NQM4-225

Closed

FVAL9739

2023-06-26 17:09

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :- Material: Appraisal
Short Description :- MFR Rural
Comments :- Approved exception form required for the following: 1) A manufactured home cannot be rural as per guidelines
- appraisal shows rural zoning. 2) Rural zoning must be at least 25% built up. As per appraisal it's less.***6/13 Zoning description is agricultural, which is considered rural as per guidelines, please provide an exception***
Exception form page no 328 of 328
- Due Diligence Vendor-06/26/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1023683

XXXXXXX-2023-NQM4-225

Closed

FCRE1200

2023-06-26 17:05

2023-06-26 17:07

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception Type :- Loan Amount
Short Description :- LA <$100k
Comments :- Hi Team, The borrower has a hard money loan $50k to pay off. Property is currently rented at $1,000/mo. Please approve with the lowest possible hit we can accommodate. Thank you
Exception form available on page no 327 of 328 - Due Diligence Vendor-06/26/2023

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception Type :- Loan Amount
Short Description :- [redacted]
Comments :- Hi Team, The borrower has a hard money loan $50k to pay off. Property is currently rented at $[redacted]. Please approve with the lowest possible hit we can accommodate. Thank you
Exception form available on page no 327 of 328 - Due Diligence Vendor-06/26/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1023681

XXXXXXX-2023-NQM4-226

Closed

FCRE9991

2023-06-27 15:28

2023-07-10 09:03

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-updated tape now present - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Please see corrected Tape in attachment - Seller-07/07/2023

Open-DSCR score calc varies where as orig score is 0.88 and calc score is 0.94. Calc score 0.94 supported by rental 1007 $[redacted] and PITIA $[redacted] - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. Please see corrected Tape in attachment - Seller-07/07/2023

Resolved-updated tape now present - Due Diligence Vendor-07/10/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1025524

XXXXXXX-2023-NQM4-226

Closed

FVAL4940

2023-06-27 05:31

2023-06-27 05:32

Waived

2 - Non-Material

Property

Missing Doc

Missing Homeowner's Association Questionnaire

Waived-Document Uploaded. Exception (page 266) to accept Fannie Mae Questionnaire in lieu of HOA Questionnaire. Approved with conditions that Questionnaire is fully eligible and DSCR>0.85 - Due Diligence Vendor-06/27/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals)

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1024057

XXXXXXX-2023-NQM4-227

Closed

FCOM1221

2023-06-28 12:42

2023-07-20 09:31

Resolved

1 - Information

Compliance

Missing Doc

The Deed of Trust is Incomplete

Resolved-lender addressed - Due Diligence Vendor-07/20/2023

Ready for Review-Please, consider the Notary date on page 204 to be 6/23/2023. We can also refer to another Notary on page 214 with much clearer handwriting. Thank you! - Seller-07/19/2023

Open-The Deed of Trust is Incomplete Notary date on page#204 is not clear. Date and year. - Due Diligence Vendor-06/28/2023

Ready for Review-Please, consider the Notary date on page 204 to be 6/23/2023. We can also refer to another Notary on page 214 with much clearer handwriting. Thank you! - Seller-07/19/2023

Resolved-lender addressed - Due Diligence Vendor-07/20/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1027406

XXXXXXX-2023-NQM4-227

Closed

FCRE1493

2023-06-27 09:50

2023-06-27 16:25

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-Exception Type Material: Credit
Short Description Tradeline exception
Comments
Borrower owns his own company based in [redacted] but operates in USA. We need to keep on Super [redacted] at [redacted] LTV. Borrower is good candidate with 12 months reserves. Borrower does not use credit due to operating on cash basis. I unable to get full alternate tradelines to be added. Please consider exception to move this file please.

Exception form page # 634
- Due Diligence Vendor-06/27/2023

Waived-Exception Type Material: Credit
Short Description Tradeline exception
Comments
Borrower owns his own company based in South Africa but operates in USA. We need to keep on Super [redacted] at [redacted] LTV. Borrower is good candidate with 12 months reserves. Borrower does not use credit due to operating on cash basis. I unable to get full alternate tradelines to be added. Please consider exception to move this file please.

Exception form page # 634
- Due Diligence Vendor-06/27/2023

10 years or more in same line of employment, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Reserves>6 months
12 months reserves.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1024616

XXXXXXX-2023-NQM4-228

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

XXXXXXX-2023-NQM4-229

Closed

FCRE1437

2023-06-26 16:03

Waived

2 - Non-Material

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Waived-Exception found on page 497

Borrower is a traveling nurse went from W2 to 1099 staring Jan 2023 . Requesting to UW with 1099 program using 2 years W2s attached

Approved with coditions of +0.5 to the rate, Max LTV [redacted]
- Due Diligence Vendor-06/26/2023

No consumer late payments in last 48 months, LTV 10% below maximum, Reserves>6 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1023628

XXXXXXX-2023-NQM4-229

Closed

FCRE1226

2023-06-26 16:02

Waived

2 - Non-Material

Credit

Missing Doc

Appraisal document is incomplete or partial

Waived-Exception found on page 490

Appraisal with full interior and exterior property inspection and SSRs to support this loan request. SFR/PUD:
1004. ** 5/30 Appraiserfailed to find enough comps within 4 miles from subject - Approved EXCEPTION form
required for comparables don't meet ADrequirements for new construction properties

Approved as is - Due Diligence Vendor-06/26/2023

No credit events past 48 months, No consumer late payments in last 48 months, LTV 10% below maximum

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1023626

XXXXXXX-2023-NQM4-230

Closed

7040-11690

2023-06-27 12:20

2023-07-20 09:56

Resolved

1 - Information

Compliance

Late:Amount

[redacted] - Maximum Late Fee

Resolved-lender has addressed and reviewed. they are ok with late fee - Due Diligence Vendor-07/20/2023

Ready for Review-The Note contains the formal language in section 5 that we are bound by and will comply with state law maximum charges. Thank you! - Seller-07/19/2023

Open-The [redacted] Real Property Law prohibits assessing a late fee greater than 2%. ([redacted] Real Prop 254-b) - Due Diligence Vendor-06/27/2023

Ready for Review-The Note contains the formal language in section 5 that we are bound by and will comply with state law maximum charges. Thank you! - Seller-07/19/2023

Resolved-lender has addressed and reviewed. they are ok with late fee - Due Diligence Vendor-07/20/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

N/A

1024994

XXXXXXX-2023-NQM4-231

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-232

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-233

Closed

FCRE6696

2023-06-27 05:59

2023-07-18 08:30

Resolved

1 - Information

Credit

Income/Employment

Employment Self-Employed Less Than 2 Years at Origination

Resolved-Document Uploaded.  - Due Diligence Vendor-07/18/2023

Resolved-Document Uploaded. proof borrower has another transport business open and active since 2017 now present. - Due Diligence Vendor-07/18/2023

Counter-Guidelines state the business itself needs to be in existence for 2 yrs.  His business has not been. If structure changed then we need proof he has been self employed 5 years.  Does not meet these guidelines. - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. see attached  - Seller-07/05/2023

Open-Need exception for borrower business in existence less than 2 yrs Page 295 show open 7/2/2021 (less than 2 yrs) - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. see attached - Seller-07/05/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1024099

XXXXXXX-2023-NQM4-233

Closed

FCRE1194

2023-06-27 05:57

2023-07-06 11:09

Resolved

1 - Information

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Resolved-guideline does state [redacted] for PUD new construction in FL - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. See attached - Seller-07/05/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] new construction PUD in FL max LTV is [redacted] - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. See attached - Seller-07/05/2023

Resolved-guideline does state [redacted] for PUD new construction in FL - Due Diligence Vendor-07/06/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1024093

XXXXXXX-2023-NQM4-233

Closed

FCRE8611

2023-06-27 05:57

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-OVer 3NSF charges - Due Diligence Vendor-06/27/2023

Revolving debt is under 30%, DTI >=10% lower than loan program, No credit events past 48 months, No mortgage late payments in
last 24 months, Borrower contribution exceeds requirement >=5%
page 319

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1024096

XXXXXXX-2023-NQM4-234

Closed

FCRE5116

2023-06-29 12:13

2023-07-10 09:09

Resolved

1 - Information

Credit

Missing Doc

Missing VOM or VOR

Resolved-proof new mtg now present. - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. [redacted] payment didnt start until 07/01 - please see attached note for property - Seller-07/10/2023

Counter-final 1003 show [redacted] with zero mortgage. Need copy of Note or Final CD if a recent loan - Due Diligence Vendor-07/06/2023

Ready for Review-Please see first property under section 3 on final 1003 in closing package, [redacted] is on there. Please advise if you need anything else - Seller-07/06/2023

Open-New Mortgage account found on the fraudguard report but not declared on 1003 either. On the Pg#83 & 102 verified and it is on the [redacted] Investment occupancy.
Please provide a supporting document to confirm the same.
Note: Fraudguard report comment stated added to 1003 (Pg#262) but it is not. - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. [redacted] payment didnt start until 07/01 - please see attached note for property - Seller-07/10/2023

Ready for Review-Please see first property under section 3 on final 1003 in closing package, [redacted] is on there. Please advise if you need anything else - Seller-07/06/2023

Waived-OVer 3NSF charges - Due Diligence Vendor-06/27/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1029666

XXXXXXX-2023-NQM4-234

Closed

2260

2023-06-29 12:09

2023-07-06 11:29

Resolved

1 - Information

Compliance

Mavent

Prepayment: Penalty

Resolved-confirmed no ppp - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Per lock 0 PPP - Seller-07/06/2023

Open-This is an Investment [redacted] state but Prepayment Penalty is NO. please confirm if no prepay is correct - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Per lock 0 PPP - Seller-07/06/2023

Resolved-confirmed no ppp - Due Diligence Vendor-07/06/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1029647

XXXXXXX-2023-NQM4-234

Closed

FCRE4104

2023-06-29 12:08

2023-07-06 11:26

Resolved

1 - Information

Credit

Missing Doc

Missing explanation and supporting documentation for large deposit(s)

Resolved-lender addressed with these comments-its our discretion and I wouldn’t consider something below 10k a large deposit on DSCR
- Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. See attached comments from UW - Seller-07/06/2023

Open-Acc#[redacted] - There is a Large Deposit found for $7,386.98: LD on pg#741 but no LOX/source found.
Note: It is mentioned transferred form the [redacted] [redacted] but this statement is not provided to verify further. - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. See attached comments from UW - Seller-07/06/2023

Resolved-lender addressed with these comments-its our discretion and I wouldn’t consider something below 10k a large deposit on DSCR
- Due Diligence Vendor-07/06/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1029636

XXXXXXX-2023-NQM4-235

Closed

FCRE1317

2023-06-27 09:55

Waived

2 - Non-Material

Credit

Income/Employment

Borrower 1 Total Years Employment Verified is Less Than 24 Months

Waived-Exception page 253

Need loan amt [redacted] . Borrower self employed 1.6 yrs less than 2 yrs
( s/e date 10/1/21 ) now 18 mos self employed

Approved with conditions of : +0.5 to the rate, max [redacted] ltv or $[redacted] (lesser of the two), mandatory collateral desk review required - Due Diligence Vendor-06/27/2023

Waived-Exception page 253

Need loan amt $[redacted]. Borrower self employed 1.6 yrs less than 2 yrs
( s/e date 10/1/21 ) now 18 mos self employed

Approved with conditions of : +0.5 to the rate, max [redacted] ltv or [redacted] (lesser of the two), mandatory collateral desk review required - Due Diligence Vendor-06/27/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1024629

XXXXXXX-2023-NQM4-236

Closed

FVAL5981

2023-06-27 12:34

Waived

2 - Non-Material

Property

Property Type does not meet eligibility requirement(s)

Waived-Subject is Rural manufactured and on 12.65 acres. Lender exception Page 59 - Due Diligence Vendor-06/27/2023

LTV 10% below program maximum, Credit score > 40 points above program minimum, No mortgage lates last 24 months.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1025032

XXXXXXX-2023-NQM4-237

Closed

FPRO116

2023-06-27 10:01

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Page 343- Rural property -new construction - like sales comparables are outside of guidelines. 5.33 , 2.84 ,4.68 miles in distance - Due Diligence Vendor-06/27/2023

Bwr Contribution Exceeds 5%, No credit events past 48 months, No mortgage lates last 24 months.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1024639

XXXXXXX-2023-NQM4-238

Closed

FCRE1145

2023-06-27 15:28

2023-07-10 09:11

Resolved

1 - Information

Credit

Missing Doc

Title Document Missing

Resolved-Title Document is fully Present - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/07/2023

Open-Title Document is missing - Due Diligence Vendor-06/27/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/07/2023

Resolved-Title Document is fully Present - Due Diligence Vendor-07/10/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1025522

XXXXXXX-2023-NQM4-239

Closed

FCRE1194

2023-06-28 08:26

2023-07-10 09:17

Resolved

1 - Information

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Resolved-updated rate sheet provided - Due Diligence Vendor-07/10/2023

Resolved-Audited LTV of [redacted] is less than or equal to Guideline LTV of [redacted] - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Per matrix borrowers FICO we can go up to [redacted] LTV. Please check - Seller-07/07/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Max LTV for Investment cash out listed at [redacted] - File closed at [redacted] -No exception noted. - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Per matrix borrowers FICO we can go up to [redacted] LTV. Please check - Seller-07/07/2023

Resolved-updated rate sheet provided - Due Diligence Vendor-07/10/2023

Resolved-Audited LTV of [redacted] is less than or equal to Guideline LTV of [redacted] - Due Diligence Vendor-07/10/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1026455

XXXXXXX-2023-NQM4-239

Closed

2260

2023-06-28 08:29

Waived

2 - Non-Material

Compliance

Mavent

Prepayment: Penalty

Waived-Investment Property listed within last 6 months requires a prepayment penalty of at least 1 year. Lender Exception to waive prepay page 83 - Due Diligence Vendor-06/28/2023

No mortgage lates last 24 months, Residual income > $3,000, No credit events past 48 months.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1026467

XXXXXXX-2023-NQM4-239

Closed

FCRE1491

2023-06-28 08:16

Waived

2 - Non-Material

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Waived-Asset Qualification Does Not Meet Guideline Requirements No assets in file -Lender exception to permit cash out for reserves page 84 - Due Diligence Vendor-06/28/2023

No mortgage lates last 24 months, No consumer lates last 48 months, Residual income >$3,000, No credit events past 48 months.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1026414

XXXXXXX-2023-NQM4-240

Closed

50001251

2023-06-28 09:04

2023-06-30 11:18

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-COC received - Due Diligence Vendor-06/30/2023

Counter- - Due Diligence Vendor-06/30/2023

Counter-These COCs are dated 15th and loan closed on the [redacted]. Either need updated disclosure from the 15th showing fees changed or corrected COC - Due Diligence Vendor-06/30/2023

Ready for Review-COC is attached on the CD redisclosure 2 PDF - it contains the increased discount fee - Seller-06/29/2023

Open-Discount fee added in final cd dated 06/22/2022. COC is missing for final CD. - Due Diligence Vendor-06/29/2023

Open-Discount fee added in final cd dated 06/22/2022. COC is missing for final CD. - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Please see attached Here is the initial closing disclosure and two redisclosures for the increase fee. It was due to lock extension cost. - Seller-06/28/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). - Due Diligence Vendor-06/28/2023

Ready for Review-COC is attached on the CD redisclosure 2 PDF - it contains the increased discount fee - Seller-06/29/2023

Ready for Review-Document Uploaded. Please see attached Here is the initial closing disclosure and two redisclosures for the increase fee. It was due to lock extension cost. - Seller-06/28/2023

Resolved-COC received - Due Diligence Vendor-06/30/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1026569

XXXXXXX-2023-NQM4-240

Closed

50001252

2023-06-28 09:04

2023-06-30 11:18

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-COC received - Due Diligence Vendor-06/30/2023

Counter- - Due Diligence Vendor-06/30/2023

Counter-These COCs are dated 15th and loan closed on the [redacted].  Either need updated disclosure from the 15th showing fees changed or corrected COC - Due Diligence Vendor-06/30/2023

Ready for Review-COC is attached on the CD redisclosure 2 PDF - it contains the increased discount fee  - Seller-06/29/2023

Open-Discount fee added in final cd dated 06/22/2022. COC is missing for final CD. - Due Diligence Vendor-06/29/2023

Open-Discount fee added in final cd dated 06/22/2022. COC is missing for final CD. - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Document Uploaded.  - Seller-06/28/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). - Due Diligence Vendor-06/28/2023

Ready for Review-COC is attached on the CD redisclosure 2 PDF - it contains the increased discount fee - Seller-06/29/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/28/2023

Resolved-COC received - Due Diligence Vendor-06/30/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1026570

XXXXXXX-2023-NQM4-240

Closed

FCRE6843

2023-06-28 07:32

2023-06-29 13:22

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-HUD received  - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Sorry, please see final settlement statement - Seller-06/29/2023

Counter-this is not the [redacted]  property.  wrong CD - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. See attached - Seller-06/28/2023

Open-need final Signed CD from [redacted] refi to show $113059 cash to borrower minimum and copy of Note.  this property was counted in DTI.  if new PITIA is greater than 2840 DTI will need to recalculated  - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Sorry, please see final settlement statement - Seller-06/29/2023

Ready for Review-Document Uploaded. See attached - Seller-06/28/2023

Resolved-HUD received - Due Diligence Vendor-06/29/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1026276

XXXXXXX-2023-NQM4-240

Closed

FCOM4028

2023-06-28 06:30

2023-06-29 11:48

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-recorded DOT present - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. See attached - Seller-06/28/2023

Open-Missing evidence of Mortgage recording - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. See attached - Seller-06/28/2023

Resolved-recorded DOT present - Due Diligence Vendor-06/29/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1026137

XXXXXXX-2023-NQM4-240

Closed

FCRE1152

2023-06-28 07:16

2023-06-29 10:46

Resolved

1 - Information

Credit

Missing Doc

Evidence of Property Tax Missing

Resolved-Evidence of Property Tax is present - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Please see final title with taxes - Seller-06/28/2023

Open-Missing Evidence of Property Tax - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Please see final title with taxes - Seller-06/28/2023

Resolved-Evidence of Property Tax is present - Due Diligence Vendor-06/29/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1026231

XXXXXXX-2023-NQM4-240

Closed

FCOM4227

2023-06-28 09:07

2023-06-29 10:45

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-CD present - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/28/2023

Open-Initial Closing Disclosure is missing in the file. - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-06/28/2023

Resolved-CD present - Due Diligence Vendor-06/29/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1026579

XXXXXXX-2023-NQM4-240

Closed

FCRE1335

2023-06-28 06:59

2023-06-29 10:41

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 IRS Transcripts Missing

Resolved-lender accepted proof the tax liability from amended return as proof filed - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/29/2023

Open-Borrower 1 IRS Transcripts Missing page 329 shows amended return just filed. Income went from $[redacted] to $[redacted] for year and no transcripts to validate (also required on self-employed full doc loans) need 2022 Transcript to support income - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/29/2023

Resolved-lender accepted proof the tax liability from amended return as proof filed - Due Diligence Vendor-06/29/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1026188

XXXXXXX-2023-NQM4-241

Closed

FCRE1194

2023-06-28 09:26

2023-07-03 09:41

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Lender provided waiver for LTV. - Due Diligence Vendor-07/03/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/30/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] ltv max is [redacted] for a 695 credit score - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/30/2023

Waived-Lender provided waiver for LTV. - Due Diligence Vendor-07/03/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

1026676

XXXXXXX-2023-NQM4-241

Closed

FCOM4028

2023-06-28 08:47

2023-07-03 09:40

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-Recorded mortgage provide. finding is resolved. - Due Diligence Vendor-07/03/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/30/2023

Open-Missing evidence of Mortgage recording - Due Diligence Vendor-06/28/2023

Ready for Review-Document Uploaded. Please see attached - Seller-06/30/2023

Resolved-Recorded mortgage provide. finding is resolved. - Due Diligence Vendor-07/03/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1026519

XXXXXXX-2023-NQM4-242

Closed

FCRE1479

2023-06-28 13:57

2023-07-20 13:01

Resolved

1 - Information

Credit

Assets

Asset 1 Does Not Meet Guideline Requirements

Resolved-2 gifts totaling 13k page 43 in file - Due Diligence Vendor-07/20/2023

Counter-this does not address the $13k deposit in question on 5/1 - Due Diligence Vendor-07/10/2023

Ready for Review-NOT A DEFECT/Cleared with comment "Please see the LOE for the $44,595.40 large deposit into [redacted] on page 71 of "[redacted]_Closing docs part 1". Borrower withdrew money from [redacted] and deposited into [redacted] on the same day for the same amount." - Seller-07/07/2023

Open-Asset Record 1 Does Not Meet G/L Requirements Large Deposit in[redacted], Need Lox and source of deposit. page # 80
05/01/2023 $13000 - Due Diligence Vendor-06/28/2023

Ready for Review-NOT A DEFECT/Cleared with comment "Please see the LOE for the $44,595.40 large deposit into [redacted] on page 71 of "[redacted]_Closing docs part 1". Borrower withdrew money from[redacted] and deposited into[redacted] on the same day for the same amount." - Seller-07/07/2023

Resolved-2 gifts totaling 13k page 43 in file - Due Diligence Vendor-07/20/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1027717

XXXXXXX-2023-NQM4-242

Closed

FCRE1491

2023-06-30 13:51

2023-07-10 09:24

Resolved

1 - Information

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Resolved-lender confirmed all deposited into [redacted] account. - Due Diligence Vendor-07/10/2023

Ready for Review-All the gift deposits are going into the [redacted] account. - Seller-07/07/2023

Open-Asset Qualification Does Not Meet Guideline Requirements Several gifts in file but unable to find where the borrower deposited them. Please provide proof these gifts are on deposit.
- $5000 each - 3 times pg#40,46,59
- $8000 each - 2 times pg#42, 57
- $15000 - once pg#44
- $10000 - once pg#61 - Due Diligence Vendor-06/30/2023

Ready for Review-All the gift deposits are going into the [redacted] account. - Seller-07/07/2023

Resolved-lender confirmed all deposited into [redacted]account. - Due Diligence Vendor-07/10/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1032430

XXXXXXX-2023-NQM4-242

Closed

FCRE6843

2023-06-28 13:40

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception Type
Material: Assets
Short Description
Less than 20% of own funds, Contributing [redacted] which is 9.8%
Comments
Hello Credit Committee, this exception is for a borrower contributing approximately 9.8% of their own funds for the purchase of this investment property. Please consider this exception as the appraisal came in $10k more than purchase price and other compensating factors

Exception form page # 266 of 266 - Due Diligence Vendor-06/28/2023

DTI >=10% lower than loan program, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1027643

XXXXXXX-2023-NQM4-243

Closed

FCRE1248

2023-06-28 06:09

2023-06-28 07:44

Waived

2 - Non-Material

Credit

Eligibility

Purchase is not considered to be an Arm's Length Transaction

Waived-Document Uploaded. 1003 Non-Arms Length Purchase - Exception (pg 134-2) waives with LOX (page 107-1) Son is starting his own investment portfolio purchasing this investment property from his mother. Approved with conditions +1 in Price, DSCR>1, [redacted] LTV max and all Credit decisions requirements met. - Due Diligence Vendor-06/28/2023

No credit events past 48 months, 5+ years credit history, Credit score >40 points than minimum required, current home is paid no mortgage lates, over 3 months reserves.

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1026092

XXXXXXX-2023-NQM4-244

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-245

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-246

Closed

FCRE6843

2023-06-29 09:43

2023-07-07 13:08

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-lender has accepted no sourcing on business assets - Due Diligence Vendor-07/07/2023

Ready for Review-Large deposits arent sourced on business assets - Seller-07/06/2023

Open-large deposit dated 4/20 for $45000 not addressed (see page 66) - Due Diligence Vendor-06/29/2023

Ready for Review-Large deposits arent sourced on business assets - Seller-07/06/2023

Resolved-lender has accepted no sourcing on business assets - Due Diligence Vendor-07/07/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1029155

XXXXXXX-2023-NQM4-247

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-248

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-249

Closed

FCRE9991

2023-06-28 17:05

2023-07-07 14:54

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-Underwriter acknowledge difference due to special assessment which we do not include - Due Diligence Vendor-07/07/2023

Open-DSCR score calc varies where as orig score is 0.81 and calc score is 0.85. Calc 0.85 is supported by rental 1007 $2200 and PITIA $[redacted] - Due Diligence Vendor-06/28/2023

Resolved-Underwriter acknowledge difference due to special assessment which we do not include - Due Diligence Vendor-07/07/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1028219

XXXXXXX-2023-NQM4-250

Closed

FCRE1492

2023-06-28 11:57

Waived

2 - Non-Material

Credit

Assets

Cash Out Does Not Meet Guideline Requirements

Waived-Exception found on page 204

Allow cash out as reserves

Approved with conditions OK to use cash out as reserves - Due Diligence Vendor-06/28/2023

5 years on current job, Residual income >=$3000, DTI >=10% lower than loan program, 10 years or more in same line of
employment, No credit events past 48 months, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1027239

XXXXXXX-2023-NQM4-251

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-252

Closed

50001251

2023-06-29 14:26

2023-07-11 09:09

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-COC provided - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/10/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). Please provide COC for Loan discount, in the Initial CD dated 06/05/2023 Loan discount fee is $4000.00,( pg.# 182 of 824) increased on Final CD - dated : 06/27/2023,to $6000.00 (Pg.# 208 of 824) - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/10/2023

Resolved-COC provided - Due Diligence Vendor-07/11/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1030171

XXXXXXX-2023-NQM4-252

Closed

50001252

2023-06-29 14:26

2023-07-11 09:09

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-COC provided - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. See attached - Seller-07/10/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). Please provide COC for Loan discount, in the Initial CD dated 06/05/2023 Loan discount fee is $4000.00,( pg.# 182 of 824) increased on Final CD - dated : 06/27/2023,to $6000.00 (Pg.# 208 of 824) - Due Diligence Vendor-07/05/2023

Ready for Review-Document Uploaded. See attached - Seller-07/10/2023

Resolved-COC provided - Due Diligence Vendor-07/11/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1030172

XXXXXXX-2023-NQM4-252

Closed

FCRE4104

2023-06-29 16:15

2023-07-11 09:01

Resolved

1 - Information

Credit

Missing Doc

Missing explanation and supporting documentation for large deposit(s)

Resolved-lender addressed large deposits. - Due Diligence Vendor-07/11/2023

Ready for Review-132k was from sale of home, HUD was provided in package and the $10,000 deposit was backed out of the account balance used - and we are ok with reserves and funds to close - Seller-07/10/2023

Open-Please provide LOX /Sources for the Large Deposits reflecting in the account[redacted] for $132,433.83; dated 04/18/2023 & $10,000, dated 04/30/2023 (on the Page# 68) - Due Diligence Vendor-06/29/2023

Ready for Review-132k was from sale of home, HUD was provided in package and the $10,000 deposit was backed out of the account balance used - and we are ok with reserves and funds to close - Seller-07/10/2023

Resolved-lender addressed large deposits. - Due Diligence Vendor-07/11/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1030447

XXXXXXX-2023-NQM4-252

Closed

FCRE6696

2023-06-29 13:58

Waived

2 - Non-Material

Credit

Income/Employment

Employment Self-Employed Less Than 2 Years at Origination

Waived-Exception Type:-Material: Income
Short Description :-Less than 2 Year Self-Employed history.
The borrower has a rental property they have owned for only 1 year and 3 months. Their business is managing the rental property, they do not have a full 2-year history with this business.
Page no 819 - Due Diligence Vendor-06/29/2023

No credit events past 48 months, No consumer late payments in last 48 months, LTV 10% below maximum, Credit score >40 points
than minimum required, Reserves>6 months The borrower is putting down over 50%. The LTV is very good

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1030044

XXXXXXX-2023-NQM4-253

Closed

123ABJ

2023-06-29 09:59

2023-07-26 10:37

Resolved

1 - Information

Credit

Missing Doc

Missing VVOE dated within 10 days consummation

Resolved-Document received clears finding - Due Diligence Vendor-07/26/2023

Ready for Review-Document Uploaded. Please see page 2 - Seller-07/25/2023

Open-Tax preparer letter dated 05/26/2023 -page 321. License in file only reflects valid as of 2022 -page 1050. Need updated business standing via CPA and/or SOS. - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Please see page 2 - Seller-07/25/2023

Resolved-Document received clears finding - Due Diligence Vendor-07/26/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1029207

XXXXXXX-2023-NQM4-253

Closed

FCOM1257

2023-06-29 14:31

2023-07-11 09:36

Resolved

1 - Information

Compliance

Missing Doc

Missing Change of Circumstance

Resolved-COC provided. - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/10/2023

Open-COC is required for the reduced lender credit in Post closing disclosure 06/08/2023 page 418 . Lender credit has been reduced from final CD (page 473)dated 06/08/2023 $3199.88 to $2365.13 in post closing disclosure dated 06/08/2023 - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/10/2023

Resolved-COC provided. - Due Diligence Vendor-07/11/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1030207

XXXXXXX-2023-NQM4-253

Closed

1000867-1002553

2023-06-29 14:25

2023-07-11 09:30

Resolved

1 - Information

Compliance

Rescission:Disbursement

Federal - Right of Rescission (Loan Disbursement Violation) (TILA)

Resolved-Resolved. Post closing CD funded after corrected rescission date on Right to cancel - Due Diligence Vendor-07/11/2023

Ready for Review-Our borrower signed the docs later in the Philippines & funding was got delayed. Original disbursement date was on 06/26 & we revised the CD accordingly. So, the loan was not funded before the right to cancel expiration date.
- Seller-07/10/2023

Open-The loan disbursement date (2023-06-21) is earlier than, or the same day as, the calculated "Right to Cancel Expire Date" (2023-06-24). Under Regulation Z, funds may not be disbursed to the borrower until after the expiration of the rescission period. (Reg Z, 12 CFR 1026.23(c) and Official Staff Commentary) The Mavent report is failed due to above finding. We have received PCD (page 418) on this file however we do not have Right to cancel disclosure with new disbursement date. - Due Diligence Vendor-06/29/2023

Ready for Review-Our borrower signed the docs later in the Philippines & funding was got delayed. Original disbursement date was on 06/26 & we revised the CD accordingly. So, the loan was not funded before the right to cancel expiration date.
- Seller-07/10/2023

Resolved-Resolved. Post closing CD funded after corrected rescission date on Right to cancel - Due Diligence Vendor-07/11/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1030169

XXXXXXX-2023-NQM4-253

Closed

FCRE1194

2023-06-29 10:39

2023-06-29 10:42

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Max LTV is [redacted] for cash out properties acquired via QC/purchase deed less than 6 months. Lender exception to [redacted] page 1129. - Due Diligence Vendor-06/29/2023

Revolving debt under 30%, 5+ years current job, Residual income > $3,000, DTI > 10% below program minimum, No Credit events past 48 months, No consumer lates last 48 months. Reserves = 6 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1029325

XXXXXXX-2023-NQM4-254

Closed

FCRE4104

2023-06-29 14:43

2023-07-20 10:12

Resolved

1 - Information

Credit

Missing Doc

Missing explanation and supporting documentation for large deposit(s)

Resolved-lender addressed large deposit - Due Diligence Vendor-07/20/2023

Ready for Review-Please see the comment from UW: Normally we do not condition for large deposits on DSCR, it seemed to me a transfer from a different account. There are no any specific guideline for DSCR loan to determine the large deposits. As per underwriter discretion, considering this is not borrowed funds, UW has not requested LOX or source for the same. - Seller-07/19/2023

Open-Need supporting documents for large deposit $74,955. pg no 187 of 395 - Due Diligence Vendor-06/29/2023

Ready for Review-Please see the comment from UW: Normally we do not condition for large deposits on DSCR, it seemed to me a transfer from a different account. There are no any specific guideline for DSCR loan to determine the large deposits. As per underwriter discretion, considering this is not borrowed funds, UW has not requested LOX or source for the same. - Seller-07/19/2023

Resolved-lender addressed large deposit - Due Diligence Vendor-07/20/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1030234

XXXXXXX-2023-NQM4-254

Closed

FVAL9739

2023-06-29 14:44

2023-07-20 10:11

Resolved

1 - Information

Property

Appraisal

Property/Appraisal General

Resolved-litigation dismissed - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. As per docs on file the litigation was settled and dismissed (see attached, also should have been merged before) - Seller-07/19/2023

Open-Open litigation reflects on property - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. As per docs on file the litigation was settled and dismissed (see attached, also should have been merged before) - Seller-07/19/2023

Resolved-litigation dismissed - Due Diligence Vendor-07/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1030239

XXXXXXX-2023-NQM4-254

Closed

FCRE9802

2023-06-29 14:24

2023-07-05 17:26

Waived

2 - Non-Material

Credit

Eligibility

Borrower is First Time Homebuyer and Program Does Not Allow This

Waived-Borrower cannot be first time homebuyer for this program Exception Type :- Material: Credit
Short Description :- Borrower doesn't own a property in the last 24 months
Comments :- Exception required DSCR program and borrower doesn't own a property in the last 24 months
Exception form :Pg.#137 - Due Diligence Vendor-06/29/2023

No credit events past 48 months, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1030167

XXXXXXX-2023-NQM4-255

Closed

FCRE1180

2023-06-29 14:12

2023-07-25 10:13

Resolved

1 - Information

Credit

Missing Doc

HO-6 Insurance Policy is Missing

Resolved-Received insurance policy - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/25/2023

Open-HO-6 Insurance Policy is Missing Ins is an application. need bound coverage or policy - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/25/2023

Resolved-Received insurance policy - Due Diligence Vendor-07/25/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1030090

XXXXXXX-2023-NQM4-255

Closed

FCRE1151

2023-06-29 14:05

2023-07-10 09:33

Resolved

1 - Information

Credit

Title

Satisfactory Chain of Title not Provided

Resolved-last transfer over 12 months - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. The appraisal indicates that the subject has not sold in the prior 3 years (see a snip).
Title shows that book number that any conveyances are in (see a snip).
As per the county records, there was QCD done in 2021. Kindly see the snip which is downloaded from the county website. - Seller-07/07/2023

Open-Unsatisfactory Chain of Title provided missing chain to show not a flip - Due Diligence Vendor-06/29/2023

Ready for Review-Document Uploaded. The appraisal indicates that the subject has not sold in the prior 3 years (see a snip).
Title shows that book number that any conveyances are in (see a snip).
As per the county records, there was QCD done in 2021. Kindly see the snip which is downloaded from the county website. - Seller-07/07/2023

Resolved-last transfer over 12 months - Due Diligence Vendor-07/10/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1030063

XXXXXXX-2023-NQM4-255

Closed

FCRE1172

2023-06-29 14:27

Waived

2 - Non-Material

Credit

Insurance

Flood Insurance Minimum Coverage Not Met

Waived-Master flood not sufficient by $2,500
Comments Hi team! Got a condition "Please provide master policy with liability/crime/fidelity coverage and revised flood
policy with coverage min 63 750 000, updated flood zone AE (or provide exception on it)". The current master
flood insurance covers $63,104,000. And the condo has 255 units in it. So, each unit is covered by $247,467,
which is just shy of $2,533 of minimal required. - Due Diligence Vendor-06/29/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, Credit score >40 points than minimum
required
page 116/163

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1030183

XXXXXXX-2023-NQM4-256

Closed

FCOM1159

2023-06-30 10:27

2023-07-10 09:40

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-recvd proof of delivery - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/07/2023

Open-Provide evidence that Revised Loan Estimate issues on 06/14/2023 was sent electronically
- Due Diligence Vendor-06/30/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/07/2023

Resolved-recvd proof of delivery - Due Diligence Vendor-07/10/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

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

N/A

1031698

XXXXXXX-2023-NQM4-257

Closed

FCRE6843

2023-07-03 11:15

2023-08-01 08:53

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-per lender the gift was included with the deposit of $6500 on 5/31 - Due Diligence Vendor-08/01/2023

Ready for Review-Money were deposited on[redacted] on 5/31/2023. Please see Bank statement on page 115 of "[redacted]_Closing docs part 1" - Seller-08/01/2023

Open-There is a gift letter (page 87) for $5,000 and a copy of a check (page 185) but there is no proof of receipt by the borrower. - Due Diligence Vendor-07/03/2023

Ready for Review-Money were deposited on [redacted] on 5/31/2023. Please see Bank statement on page 115 of "[redacted]_Closing docs part 1" - Seller-08/01/2023

Resolved-per lender the gift was included with the deposit of $6500 on 5/31 - Due Diligence Vendor-08/01/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1034340

XXXXXXX-2023-NQM4-258

Closed

FCRE8459

2023-07-06 16:55

2023-07-06 17:01

Waived

2 - Non-Material

Credit

Eligibility

Borrower Entity Ownership does not meet guidelines

Waived-Title: Seasoning less than 12 months
Comments:-Comparable sales distance from the subject property do not meet [redacted] new construction guidelines and the net adjustment for comparable sale 3 is over the 15% maximum allowed for new construction. Appraisal unable to provide sales from within the subject neighborhood to meet [redacted] new construction guidelines. To waive initial purchase price + documented improvements requirement.
Exception form : pg#99 of 99 - Due Diligence Vendor-07/06/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1039241

XXXXXXX-2023-NQM4-258

Closed

FCRE1226

2023-07-06 17:00

2023-07-06 17:01

Waived

2 - Non-Material

Credit

Missing Doc

Appraisal document is incomplete or partial

Waived-Appraisal : Seasoning less than 12 months & appraisal
Comments: Comparable sales distance from the subject property do not meet [redacted] new construction guidelines and the net adjustment for comparable sale 3 is over the 15% maximum allowed for new construction. Appraisal unable to provide sales from within the subject neighborhood to meet [redacted] new construction guidelines. To waive initial purchase price + documented improvements requirement.
Exception form: pg#99 of 99
- Due Diligence Vendor-07/06/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1039245

XXXXXXX-2023-NQM4-259

Closed

FCOM1208

2023-07-05 16:02

2023-07-19 11:50

Resolved

1 - Information

Compliance

Missing Doc

The Note is Incomplete

Resolved-The Note is Present - Due Diligence Vendor-07/19/2023

Resolved-received PP addendum - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Please see Prepayment addendum to Note in attachment - Seller-07/18/2023

Open-The Note is Incomplete Prepayment Addendum to Note 2nd page is missing, please provide complete set of Prepayment Addendum to Note - Due Diligence Vendor-07/05/2023

Ready for Review-Document Uploaded. Please see Prepayment addendum to Note in attachment - Seller-07/18/2023

Resolved-The Note is Present - Due Diligence Vendor-07/19/2023

Resolved-received PP addendum - Due Diligence Vendor-07/19/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1037000

XXXXXXX-2023-NQM4-259

Closed

FCRE8955

2023-07-07 11:38

Waived

2 - Non-Material

Credit

Eligibility

Number of Loans to Borrower exceeds guidelines

Waived-5+ loans with [redacted] Mortgage
Comment:Comparable sales distance from the subject property do not meet [redacted] new construction guidelines and the net adjustment for comparable sale 3 is over the 15% maximum allowed for new construction. Appraisal unable to provide sales from within the subject neighborhood to meet [redacted] new construction guidelines. To waive initial purchase price + documented improvements requirement.
Page no 59 of 59 - Due Diligence Vendor-07/07/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1040963

XXXXXXX-2023-NQM4-259

Closed

FVAL9739

2023-07-05 16:08

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type:- Material: Credit
Short Description :- 5+ loans with [redacted] Mortgage, seasoning less than 12m
Comparable sales distance from the subject property do not meet [redacted] new construction guidelines and the net adjustment for comparable sale 3 is over the 15% maximum allowed for new construction. Appraisal unable to provide sales from within the subject neighborhood to meet [redacted] new construction guidelines. To waive initial purchase price + documented improvements requirement.
Page no 59 of 59 - Due Diligence Vendor-07/05/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1037012

XXXXXXX-2023-NQM4-260

Closed

FCRE5116

2023-07-05 17:23

2023-07-11 09:40

Resolved

1 - Information

Credit

Missing Doc

Missing VOM or VOR

Resolved-lender has accepted mortgage pay history docs as is - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. there is a statement on file that shows the next due date, of 6/1/23, which was current at the time of the loan, and the statement also shows there are not fees or lates Year to date. Please advise - Seller-07/10/2023

Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. NR/SMS/CAL[redacted] DLA is 10/22 on the credit report. Need mortgage payment history from 11/1/2022 - 4/1/2023 to check if the payments were made on time.
Note:-Recent mortgage statement available on page no 209 reads NDD:- 6/1/2023 - Due Diligence Vendor-07/05/2023

Ready for Review-Document Uploaded. there is a statement on file that shows the next due date, of 6/1/23, which was current at the time of the loan, and the statement also shows there are not fees or lates Year to date. Please advise - Seller-07/10/2023

Resolved-lender has accepted mortgage pay history docs as is - Due Diligence Vendor-07/11/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1037112

XXXXXXX-2023-NQM4-260

Closed

FVAL9739

2023-07-05 16:13

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :- Material: Appraisal
Short Description :- exception to close without repairs being done, borrower will do remodeling after he closes on the property, no realtor involved in this transaction,
Comments :- no relator involved in this transaction, borrower is aware of repairs and will do remodeling after closing
Exception form available on page no 656 - Due Diligence Vendor-07/05/2023

5 years on current job, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1037018

XXXXXXX-2023-NQM4-261

Closed

FCRE9991

2023-06-30 18:50

2023-07-11 09:48

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-corrected tape present. - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/10/2023

Open-DSCR calc varies from Originator Score 1.42 where as Calc Score is 1.35 supported by rental 1007 $2100 and PITIA $[redacted] - Due Diligence Vendor-07/01/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/10/2023

Resolved-corrected tape present. - Due Diligence Vendor-07/11/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1032812

XXXXXXX-2023-NQM4-262

Closed

FVAL8946

2023-06-30 11:33

2023-07-11 10:08

Resolved

1 - Information

Property

Missing Doc

Missing Appraisal

Resolved-now present - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. See attached - Seller-07/10/2023

Open- - Due Diligence Vendor-06/30/2023

Ready for Review-Document Uploaded. See attached - Seller-07/10/2023

Resolved-now present - Due Diligence Vendor-07/11/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1031946

XXXXXXX-2023-NQM4-262

Closed

FCRE1197

2023-06-30 11:32

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 656 is less than Guideline FICO of 660 Page 246 - 4 point Exception to permit co bwr score to allow [redacted] LTV - 656 vs 660. - Due Diligence Vendor-06/30/2023

No credit events past 48 months, 5+ year credit history, No consumer late payments last 48 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1031942

XXXXXXX-2023-NQM4-262

Closed

FCRE1193

2023-06-30 11:32

Waived

2 - Non-Material

Credit

Eligibility

Audited DTI Exceeds Guideline DTI

Waived-Audited DTI of 54.31% exceeds Guideline DTI of 50% Exception page 247 DTI to 54%. - Due Diligence Vendor-06/30/2023

No credit events past 48 months, 5+ year credit history, No consumer late payments last 48 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1031941

XXXXXXX-2023-NQM4-263

Closed

FCRE9991

2023-07-07 11:19

2023-07-12 12:16

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-lender has requested to use $-4403.76 for sub negative rents. updated and DTI now is in line. - Due Diligence Vendor-07/12/2023

Open-DTI should be 42.28%. Income is $[redacted] and debts are as follows - Subject neg rents (from 1003) $-3253.76 + Other rents $3874.23 (From 1003) + $1129 credit report debs +$ 4955.95 O/O + $13212.93 / income = 42.28% DTI - Due Diligence Vendor-07/07/2023

Resolved-lender has requested to use $-4403.76 for sub negative rents. updated and DTI now is in line. - Due Diligence Vendor-07/12/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1040896

XXXXXXX-2023-NQM4-264

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-265

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-266

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-267

Closed

FCRE1479

2023-07-06 10:54

2023-07-20 10:27

Resolved

1 - Information

Credit

Assets

Asset 1 Does Not Meet Guideline Requirements

Resolved-lender addressed large deposits. UW discretion used - Due Diligence Vendor-07/20/2023

Ready for Review-Here is the comment from UW: I did not find these as an unusual deposit because there are no any specific guideline for DSCR loan to determine the large deposits. If there are any unusual deposit which indicate any loan or potential borrowed funds, then we need to ask to source for the same. But in this case deposits are coming as "Remote Online Deposit" which is borrower source for most of his deposits. As per underwriter discretion, considering this is not borrowed funds, i have not requested LOX or source for the same. - Seller-07/19/2023

Open-Asset Record 1 Does Not Meet G/L Requirements LOX / Source of deposit is required for below large deposit in [redacted] (page 160, 161 of 346)
06/21/2023 for $15,000.00
06/20/2023 for $25,000.00 - Due Diligence Vendor-07/06/2023

Ready for Review-Here is the comment from UW: I did not find these as an unusual deposit because there are no any specific guideline for DSCR loan to determine the large deposits. If there are any unusual deposit which indicate any loan or potential borrowed funds, then we need to ask to source for the same. But in this case deposits are coming as "Remote Online Deposit" which is borrower source for most of his deposits. As per underwriter discretion, considering this is not borrowed funds, i have not requested LOX or source for the same. - Seller-07/19/2023

Resolved-lender addressed large deposits. UW discretion used - Due Diligence Vendor-07/20/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1038466

XXXXXXX-2023-NQM4-268

Closed

FCRE9991

2023-07-10 14:45

2023-07-14 10:13

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-corrected tape received - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. Double checked, tape shows 12.94 - Seller-07/13/2023

Counter-tape show 20.02% this is not correct.  see notes below. - Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. Please see attached  - Seller-07/11/2023

Open-DTI is 12.94%.  Lender to remove the PITIA of the property for [redacted], as it sold.  This is a $2483 payment on credit repot and that is the difference in DTI.  See page 802 for proof it is sold and should not be included.  - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Double checked, tape shows 12.94 - Seller-07/13/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/11/2023

Resolved-corrected tape received - Due Diligence Vendor-07/14/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1045193

XXXXXXX-2023-NQM4-269

Closed

FCRE1182

2023-07-03 16:45

2023-07-11 10:28

Resolved

1 - Information

Credit

Missing Doc

Approval/Underwriting Summary Not Provided

Resolved-approval now present - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. See approval
- Seller-07/10/2023

Open-Missing Approval/Underwriting Summary - Due Diligence Vendor-07/03/2023

Ready for Review-Document Uploaded. See approval
- Seller-07/10/2023

Resolved-approval now present - Due Diligence Vendor-07/11/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1035051

XXXXXXX-2023-NQM4-269

Closed

FCRE6843

2023-07-03 16:47

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Lender granted exception for 1 month seasoning of Earnest Money Deposit.

See page 692 - Due Diligence Vendor-07/03/2023

Revolving debt is under 30%, DTI >=10% lower than the loan program, No credit events past 48 months, No mortgage late payment is last 24 months, 5+ years credit history.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1035053

XXXXXXX-2023-NQM4-270

Closed

FCRE8955

2023-07-07 11:44

Waived

2 - Non-Material

Credit

Eligibility

Number of Loans to Borrower exceeds guidelines

Waived-5+ loans with [redacted] Mortgage
Comment:- Comments
Comparable sales distance from the subject property do not meet [redacted] new construction guidelines and the net adjustment for comparable sale 3 is over the 15% maximum allowed for new construction. Appraisal unable to provide sales from within the subject neighborhood to meet [redacted] new construction guidelines. To waive initial purchase price + documented improvements requirement.

Exception Form page # 128 of 280 - Due Diligence Vendor-07/07/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1040992

XXXXXXX-2023-NQM4-270

Closed

FVAL9739

2023-07-05 16:32

2023-07-07 09:31

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type : seasoning less than 12m
Comments
Comparable sales distance from the subject property do not meet [redacted] new construction guidelines and the net adjustment for comparable sale 3 is over the 15% maximum allowed for new construction. Appraisal unable to provide sales from within the subject neighborhood to meet [redacted] new construction guidelines. To waive initial purchase price + documented improvements requirement.

Exception Form page # 128 of 280 - Due Diligence Vendor-07/05/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1037041

XXXXXXX-2023-NQM4-271

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-272

Closed

FPRO1149

2023-07-04 13:18

2023-07-10 14:59

Waived

2 - Non-Material

Property

Property is Lease Hold

Waived-Property Rights are Lease Hold Document Uploaded. Property is Leasehold -- Assignment of Lease Pgs 231, 708-710 -- EXCEPTION (pg 727) waived with conditions -- has to meet FNMA Guides on leasehold, [redacted] LTV max, +0.5 to the Rate. - Due Diligence Vendor-07/04/2023

Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, DTI >=10% lower than loan program, No credit events past 48 months

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1035207

XXXXXXX-2023-NQM4-273

Closed

FCRE1197

2023-07-01 11:30

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 648 is less than Guideline FICO of 660 Lender exception page 497 to accept score of 648 to [redacted] LTV - Due Diligence Vendor-07/01/2023

5 years current job, 10 yrs same line of employment, No credit events past 48 months, No mortgage lates last 24 months, 5+ yr credit history, reserves > 6 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1033088

XXXXXXX-2023-NQM4-274

Closed

FCRE1201

2023-07-06 13:41

2023-07-27 08:35

Resolved

1 - Information

Credit

Missing Doc

Third Party Fraud Report not Provided

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please, find attached. Thank you! - Seller-07/19/2023

Open-Missing Third Party Fraud Report - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Please, find attached. Thank you! - Seller-07/19/2023

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-07/20/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

No Cash Out - Borrower Initiated

N/A

1038932

XXXXXXX-2023-NQM4-274

Closed

FCOM1159

2023-07-06 15:44

2023-07-20 10:30

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-electronic delivery received - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please, find attached. Thank you! - Seller-07/19/2023

Open-Provide evidence that Revised Loan Estimate issues on 06/14/2023 was sent electronically
- Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Please, find attached. Thank you! - Seller-07/19/2023

Resolved-electronic delivery received - Due Diligence Vendor-07/20/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

No Cash Out - Borrower Initiated

N/A

1039187

XXXXXXX-2023-NQM4-275

Closed

50001251

2023-06-30 14:37

2023-07-26 10:41

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-Resolved - Due Diligence Vendor-07/26/2023

Ready for Review-Document Uploaded. Please, find the COC attached. Thank you! - Seller-07/26/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). Please provide COC for Loan discount, in the Revised CD dated 06/12/2023 Loan discount $2812.50,( pg.# 279 of 784) but on Final CD - dated : 06/23/2023 ,Loan discount for $3312.50 (Pg.# 315 of 784) - Due Diligence Vendor-06/30/2023

Ready for Review-Document Uploaded. Please, find the COC attached. Thank you! - Seller-07/26/2023

Resolved-Resolved - Due Diligence Vendor-07/26/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1032510

XXXXXXX-2023-NQM4-275

Closed

50001252

2023-06-30 14:37

2023-07-26 10:41

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-Resolved - Due Diligence Vendor-07/26/2023

Ready for Review-Please, find the COC uploaded. Thank you! - Seller-07/26/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). - Due Diligence Vendor-06/30/2023

Ready for Review-Please, find the COC uploaded. Thank you! - Seller-07/26/2023

Resolved-Resolved - Due Diligence Vendor-07/26/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1032511

XXXXXXX-2023-NQM4-276

Closed

FCRE1493

2023-07-11 14:17

2023-07-20 10:36

Resolved

1 - Information

Credit

Eligibility

Trade line count does not meet program requirements

Resolved-lender is using alt tradelines. - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please, find attached the verification of rent and 2-year bills payments (highlighted). Borrower qualified with alternative credit tradelines. Thank you! - Seller-07/20/2023

Open-Only 2 open tradelines, both tradelines have are deferred and only 3 months history reported. They do not pass the requirement for 2 tradelines with 24 months history. - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. Please, find attached the verification of rent and 2-year bills payments (highlighted). Borrower qualified with alternative credit tradelines. Thank you! - Seller-07/20/2023

Resolved-lender is using alt tradelines. - Due Diligence Vendor-07/20/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1047869

XXXXXXX-2023-NQM4-277

Closed

FCOM1252

2023-07-07 14:43

2023-07-20 11:09

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Loan Estimate

Resolved-received evidence that Revised Loan Estimate issues on [redacted] was sent electronically - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please, find attached. Thank you! - Seller-07/20/2023

Open-Provide evidence that Revised Loan Estimate issues on [redacted] was sent electronically
- Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Please, find attached. Thank you! - Seller-07/20/2023

Resolved-received evidence that Revised Loan Estimate issues on [redacted] was sent electronically - Due Diligence Vendor-07/20/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1041479

XXXXXXX-2023-NQM4-277

Closed

FCRE1491

2023-07-10 14:57

2023-07-20 10:51

Resolved

1 - Information

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Resolved-removed large dep from available balance per lender - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please, find attached the comment from the underwriter. The deposits were excluded from the ending balance. Thank you! - Seller-07/20/2023

Open-Asset Qualification Does Not Meet Guideline Requirements Large Deposit found on account[redacted], dated June 06th 2023 on page#51 for amount $7,000 & $9,000. Please provide LOX/source for the same. - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Please, find attached the comment from the underwriter. The deposits were excluded from the ending balance. Thank you! - Seller-07/20/2023

Resolved-removed large dep from available balance per lender - Due Diligence Vendor-07/20/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1045230

XXXXXXX-2023-NQM4-278

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-279

Closed

FVAL9739

2023-07-07 11:47

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Type:- Seasoning less than 12m
Comments:- Comparable sales distance from the subject property do not meet [redacted] new construction guidelines and the net adjustment for comparable sale 3 is over the 15% maximum allowed for new construction. Appraisal unable to provide sales from within the subject neighborhood to meet [redacted] new construction guidelines. To waive initial purchase price + documented improvements requirement.
Exception form: pg#83 of 315
- Due Diligence Vendor-07/07/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1040998

XXXXXXX-2023-NQM4-279

Closed

FCRE8955

2023-07-06 14:27

2023-07-06 14:36

Waived

2 - Non-Material

Credit

Eligibility

Number of Loans to Borrower exceeds guidelines

Waived-Exception Type :- Material: Credit
Short Description :- 5+ loans with [redacted] Mortgage, seasoning less than 12m
Comments :- Comparable sales distance from the subject property do not meet [redacted] new construction guidelines and the net adjustment for comparable sale 3 is over the 15% maximum allowed for new construction. Appraisal unable to provide sales from within the subject neighborhood to meet [redacted] new construction guidelines. To waive initial purchase price + documented improvements requirement.
Exception form available on page no 83 of 315 - Due Diligence Vendor-07/06/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1039034

XXXXXXX-2023-NQM4-280

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-281

Closed

FVAL4036

2023-07-05 07:37

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Document Uploaded. Property is a flip -- 1/24/2023 [redacted] due to attic fire sold as is. Improvements undocumented, allow CLTV to be based off [redacted] purchase price, property appraised for [redacted] - Due Diligence Vendor-07/05/2023

Waived-Document Uploaded. Property is a flip -- 1/24/2023 $[redacted] due to attic fire sold as is. Improvements undocumented, allow CLTV to be based off $[redacted] purchase price, property appraised for [redacted] - Due Diligence Vendor-07/05/2023

DSCR=> 1.3 , Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1035778

XXXXXXX-2023-NQM4-281

Closed

FCRE1200

2023-07-05 07:27

2023-07-05 07:31

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Document Uploaded. Allow an [redacted] Loan Amount DSCR Purchase approved with condition =0.5 in price, DSCR>=1, [redacted] LTV max, 3YPPP - Due Diligence Vendor-07/05/2023

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Document Uploaded. Allow an $[redacted] Loan Amount DSCR Purchase approved with condition =0.5 in price, DSCR>=1, [redacted] LTV max, 3YPPP - Due Diligence Vendor-07/05/2023

Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1035761

XXXXXXX-2023-NQM4-282

Closed

FVAL9739

2023-07-06 16:13

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type:- Material: Appraisal
Short Description :- Subject property has a kitchenette. Exception is required
Approved exception form required for the following: Subject property is located in the same project as LN [redacted] and appears to have a Kitchenette per Zillow. Provide Exception to proceed with Kitchenette. **06/13:Subject property has a kitchenette. Exception is required.
Page no 6 of 217 - Due Diligence Vendor-07/06/2023

Experienced investor with 2+ investment properties, 2+ borrowers on the loan, No consumer late payments in last 48 months, Credit
score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1039215

XXXXXXX-2023-NQM4-283

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-284

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-285

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-286

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-287

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

XXXXXXX-2023-NQM4-288

Closed

FVAL5474

2023-07-03 08:36

Waived

2 - Non-Material

Property

Condo project is ineligible

Waived-G/L require the condo project to be 100% complete -however subject has two remaining units (including the subject) and entry gate to be completed. Page 1566 Approved. - Due Diligence Vendor-07/03/2023

No credit events past 48 months, No mortgage elates last 24 months, Credit Score > 40 points above program minimum. Reserves > 6 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1033984

XXXXXXX-2023-NQM4-289

Closed

FCRE1194

2023-07-03 12:10

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Lender Exception page 724 to accept [redacted] LTV DSCR cash out using [redacted] data - Due Diligence Vendor-07/03/2023

5 years current job, No credit events past 48 months, No mortgage lates last 24 months, No consumer lates last 48 months, Reserves > 6 months, Credit score > 40 points above program minimum.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1034500

XXXXXXX-2023-NQM4-289

Closed

FCRE1491

2023-07-03 12:04

Waived

2 - Non-Material

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Waived-Asset Qualification Does Not Meet Guideline Requirements Lender Exception page 723 to use Cash out as reserves - Due Diligence Vendor-07/03/2023

No credit events past 48 months, 5+ yr credit history, Reserves 6 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1034489

XXXXXXX-2023-NQM4-289

Closed

FCRE1440

2023-07-03 11:50

Waived

2 - Non-Material

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Waived-Housing History Does Not Meet Guideline Requirements Pages 721 & 722 Lender exceptions to accept payoff with over $10K in charges - however this is due to the extension of the balloon and not delinquent payments -see pay history / ltr pages 476+. Additionally, the file is missing the borrower's 03/2023 canceled check - 02/2023, 04/2023 and 05/2023 are present as is the lender's payment history for the last 12 months. - Due Diligence Vendor-07/03/2023

No credit events past 48 months, No mortgage lates last 24 months, Reserves > 6 months.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1034441

XXXXXXX-2023-NQM4-290

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-291

Closed

FPRO1245

2023-07-10 13:41

2023-07-10 13:54

Waived

2 - Non-Material

Property

Appraisal

Appraisal is Expired

Waived-Primary Value Appraisal is Expired Document Uploaded. Exception (pg 162 -ngai) transferred Appraisal over 60 days old, new construction dated 2/15/2023, file submitted 05/10/2023, Form 1004D completion submitted 5/19/2023 with no change in original value. Approved DSCR>=1 required, CUW value review, must close in June 2023 - Due Diligence Vendor-07/10/2023

Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1045016

XXXXXXX-2023-NQM4-292

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-293

Closed

FCRE8705

2023-07-12 11:42

2023-08-09 08:42

Waived

2 - Non-Material

Credit

Eligibility

Excessive Seller Contributions

Waived-Allow to use IPC exceeding 4% (4.17%) on Investment loan with LTV [redacted]
Comments
- Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. PC exception was granted - Seller-08/08/2023

Open-As per guideline max Interested Party Contribution is 4% on an Investment loan with LTV [redacted] or above.
Loan LTV is [redacted] and IPC contribution is 4.17%. So, this exceeds guide by 0.17%. - Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. PC exception was granted - Seller-08/08/2023

Waived-Allow to use IPC exceeding 4% (4.17%) on Investment loan with LTV [redacted]
Comments
- Due Diligence Vendor-08/09/2023

Compensating Factors
5 years on current job, Residual income >=$3000, 10 years or more in same line of employment, 5+ years credit history, Reserves>6
months

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1050008

XXXXXXX-2023-NQM4-293

Closed

FCRE5116

2023-07-13 11:07

2023-08-07 10:31

Resolved

1 - Information

Credit

Missing Doc

Missing VOM or VOR

Resolved-Received VOM - Due Diligence Vendor-08/07/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-08/07/2023

Ready for Review-Document Uploaded. - Seller-08/07/2023

Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. Please provide VOM for below 2 accounts:-
* [redacted] : Investment property - [redacted]
*[redacted] : Primary Home[redacted]* - Due Diligence Vendor-07/13/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-08/07/2023

Ready for Review-Document Uploaded. - Seller-08/07/2023

Resolved-Received VOM - Due Diligence Vendor-08/07/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1052574

XXXXXXX-2023-NQM4-293

Closed

FPRO1249

2023-07-12 11:51

2023-07-13 11:29

Waived

2 - Non-Material

Property

Neighborhood Location Not Allowed for Program

Waived-Exception Type :- Material: Appraisal
Short Description :- Need exception for location of comp
Comments :- looking to get an exception for a new constrution and one comp is over 4 miles away. We are in the process of
getting one more comp now within the neighborhood. we have and exception presently for [redacted] which i have uploaded with other docs. We can do a CUW review but the value is there. Looking to see if we can get the exception without an additional fee since this was something out of the hands of the borrower. Excellent qualifying borrower and excellent mortgage history.
Exception form available on page no 321 - Due Diligence Vendor-07/12/2023

5 years on current job, Residual income >=$3000, No credit events past 48 months, No mortgage late payments in last 24 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1050041

XXXXXXX-2023-NQM4-293

Closed

FCRE9994

2023-07-12 11:53

Waived

2 - Non-Material

Credit

Eligibility

Original LTV (OLTV) does not meet eligibility requirement(s)

Waived-Exception Type :- Material: LTV
Short Description :- Need LTV exception for New Construction PUD
Comments :- Looking to get LTV exception to [redacted] LTV on an investment, new construction detached PUD. Per guidelines max LTV is [redacted]. This borrower is purchasing new construction with [redacted] homes, a reputable national builder and per guidelines we can do [redacted] investment with bank statements but since new construction we reduce to [redacted]. Excellent qualifying borrower and has excellent mortgage history
Exception form available on page no 322 - Due Diligence Vendor-07/12/2023

5 years on current job, Residual income >=$3000, No credit events past 48 months, No mortgage late payments in last 24 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1050050

XXXXXXX-2023-NQM4-294

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-295

Closed

FVAL4188

2023-07-12 16:44

2023-08-01 08:55

Waived

2 - Non-Material

Property

Property Marketability Issues

Waived-DSCR with no property owned within the past 24 months. Condotel with kitchenette and 344 square feet.
Comments Credit and appraisal attached.
- Due Diligence Vendor-08/01/2023

Ready for Review-Please find Exception form attached to another condition - Seller-08/01/2023

Open-Subject property is condotel, As per guide Minimum GLA is 500 SF. Subject property GLA is 344. (refer pg#90 of 265)
Note: Per guideline there should be a separate bedroom but in the appraisal Bedroom : 0 and a separate sleeping area is mentioned. - Due Diligence Vendor-07/12/2023

Ready for Review-Please find Exception form attached to another condition - Seller-08/01/2023

Waived-DSCR with no property owned within the past 24 months. Condotel with kitchenette and 344 square feet.
Comments Credit and appraisal attached.
- Due Diligence Vendor-08/01/2023

Compensating Factors
Revolving debt is under 30%, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48
months, Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1050879

XXXXXXX-2023-NQM4-295

Closed

FCRE9802

2023-07-14 12:54

2023-08-01 08:55

Waived

2 - Non-Material

Credit

Eligibility

Borrower is First Time Homebuyer and Program Does Not Allow This

Waived-DSCR with no property owned within the past 24 months. Condotel with kitchenette and 344 square feet.
Comments Credit and appraisal attached.
- Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Please find Exception form attached - Seller-08/01/2023

Open-Borrower cannot be first time homebuyer for this program DSCR - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. Please find Exception form attached - Seller-08/01/2023

Waived-DSCR with no property owned within the past 24 months. Condotel with kitchenette and 344 square feet.
Comments Credit and appraisal attached.
- Due Diligence Vendor-08/01/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1055116

XXXXXXX-2023-NQM4-295

Closed

FVAL9739

2023-07-12 16:47

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :- Material: Appraisal
Short Description :- As per underwriter: Approved exception form required for the following: Safety issue with the seawall disclosed on the limited questionnaire.
Comments :- Credit, appraisal, and condo questionnaire attached.
Exception form available on page no 1 of 131 - Due Diligence Vendor-07/12/2023

Revolving debt is under 30%, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48
months, Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1050880

XXXXXXX-2023-NQM4-296

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-297

Closed

FCOM1477

2023-07-05 13:13

2023-07-11 10:35

Resolved

1 - Information

Compliance

Missing Doc

Missing evidence of rate lock

Resolved-lock now present - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. See attached - Seller-07/10/2023

Open-Evidence of Rate Lock Missing and Occupancy status captured on the 1003 Page is 'Primary Residence'. - missing [redacted] rate lock. Correspondent rate lock page 507. - Due Diligence Vendor-07/05/2023

Ready for Review-Document Uploaded. See attached - Seller-07/10/2023

Resolved-lock now present - Due Diligence Vendor-07/11/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

1036596

XXXXXXX-2023-NQM4-297

Closed

FCRE8611

2023-07-06 10:13

2023-07-11 10:31

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-now 1 yr full doc - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. Updated lock to 1 YR FULL - Seller-07/10/2023

Open-locked at 2 yr full doc missing 2020 1099 for B3. Only have 1 yrs income docs on a 2 yr program - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Updated lock to 1 YR FULL - Seller-07/10/2023

Resolved-now 1 yr full doc - Due Diligence Vendor-07/11/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

1038349

XXXXXXX-2023-NQM4-297

Closed

FCOM4028

2023-07-05 12:58

2023-07-11 10:29

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-recorded mg present now - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. See attached - Seller-07/10/2023

Open-Missing evidence of Mortgage recording - Due Diligence Vendor-07/05/2023

Ready for Review-Document Uploaded. See attached - Seller-07/10/2023

Resolved-recorded mg present now - Due Diligence Vendor-07/11/2023

[redacted]

QM: Average [redacted] Offer Rate (APOR)

[redacted]

Primary Residence

Purchase

N/A

1036554

XXXXXXX-2023-NQM4-298

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-299

Closed

FCOM5413

2023-07-13 09:25

2023-07-19 11:56

Resolved

1 - Information

Compliance

Missing Doc

Prepayment Penalty Information Unavailable

Resolved-confirmed no pp - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Please refer to the Lock Confirmation on p. 343 of the Credit Package uploaded to the portal. It reflects PPP 0 YEAR. - Seller-07/18/2023

Open-[redacted] state and the Loan amount is $[redacted] but prepayment is not available. Confirm no prepayment - Due Diligence Vendor-07/13/2023

Ready for Review-Document Uploaded. Please refer to the Lock Confirmation on p. 343 of the Credit Package uploaded to the portal. It reflects PPP 0 YEAR. - Seller-07/18/2023

Resolved-confirmed no pp - Due Diligence Vendor-07/19/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1052236

XXXXXXX-2023-NQM4-300

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-301

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-302

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-303

Closed

FVAL5524

2023-07-14 11:29

2023-08-04 07:38

Waived

2 - Non-Material

Property

Ineligible Property

Waived-Rural / ADU / Built up under 25%
Comments [redacted] LTV. Ratio over 1.5. Borrower already has 3 year PPP - Due Diligence Vendor-07/14/2023

DSCR=> 1.3 , LTV 10% below maximum, No credit events past 48 months, No mortgage late payments in last 24 months
Credit Decision
Status Approved with
conditions
Conditions: DSCR>1.1, 0.75 in price, value review required.
page 545

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1054941

XXXXXXX-2023-NQM4-303

Closed

FCRE9806

2023-07-14 11:32

2023-08-04 07:38

Resolved

1 - Information

Credit

Eligibility

Other Credit Finding

Resolved-requirement of waiver updated - Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded. Updated Exception Form provided - Seller-08/03/2023

Open-a condition of waiver is DSCR must be 1.2. Because the DSCR score needs to be adjusted to only use [redacted] of short term, DSCR is only 1.15- waiver terms for approval are no longer met. - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. Updated Exception Form provided - Seller-08/03/2023

Resolved-requirement of waiver updated - Due Diligence Vendor-08/04/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1054947

XXXXXXX-2023-NQM4-303

Closed

FCRE9991

2023-07-14 11:31

2023-07-19 11:57

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-updated tape provided - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Updated loan tape provided - Seller-07/18/2023

Open-DSCR is 1.15. Need to fix rents and use [redacted] as the property is a Short term rental. see 1007 says its STR. guides say [redacted] of short-term rental value will be used for qualification purposes (to adjust for rental expenses). rent should be $5625mo not $7500 - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. Updated loan tape provided - Seller-07/18/2023

Resolved-updated tape provided - Due Diligence Vendor-07/19/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1054945

XXXXXXX-2023-NQM4-304

Closed

FCRE1194

2023-07-09 08:57

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Max LTV for 1 Yr P&L and Bwr score is [redacted]. Lender Exception to permit [redacted] LTV for 1yr P&L with a 670 score. - Due Diligence Vendor-07/09/2023

No credit event spast 48 months, 5+ yrs credit history, No consumer late payments last 48 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1042537

XXXXXXX-2023-NQM4-305

Closed

FCOM0362

2023-07-14 17:36

2023-07-19 12:01

Resolved

1 - Information

Compliance

Missing Doc

Final HUD-1 Document is Missing

Resolved-received all pages - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Fully executed Final CD provided - Seller-07/18/2023

Open-Final CD page #3 is missing from this package. - Due Diligence Vendor-07/17/2023

Ready for Review-Document Uploaded. Fully executed Final CD provided - Seller-07/18/2023

Resolved-received all pages - Due Diligence Vendor-07/19/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1055439

XXXXXXX-2023-NQM4-305

Closed

FCRE9994

2023-07-14 17:09

Waived

2 - Non-Material

Credit

Eligibility

Original LTV (OLTV) does not meet eligibility requirement(s)

Waived-Exception Type :- Material: Credit
Short Description :- 5+ loans with [redacted] Mortgage, seasoning less than 12m, use appraised value in LTV
Exception form available on page no 306 of 308 - Due Diligence Vendor-07/14/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1055431

XXXXXXX-2023-NQM4-305

Closed

FCRE8955

2023-07-14 17:05

Waived

2 - Non-Material

Credit

Eligibility

Number of Loans to Borrower exceeds guidelines

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1055430

XXXXXXX-2023-NQM4-305

Closed

FVAL9739

2023-07-14 17:02

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :-  Material: Title
Short Description :-  5+ loans with [redacted] Mortgage
Comments :- Comparable sales distance from the subject property do not meet [redacted] new construction guidelines and the net
adjustment for comparable sale 3 is over the 15% maximum allowed for new construction. Appraisal unable to provide sales from within the subject neighborhood to meet [redacted] new construction guidelines. To waive initial purchase price + documented improvements requirement.
Exception form available on page  no 308 of 308 - Due Diligence Vendor-07/14/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1055428

XXXXXXX-2023-NQM4-306

Closed

FCRE1197

2023-07-12 12:10

2023-08-03 10:33

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived- 669 FICO for rural DSCR cash-out
- Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. Please find Exception form attached - Seller-08/02/2023

Open-Audited FICO of 669 is less than Guideline FICO of 680 Per guideline minimum FICO requirement for a SFR Rural property is 680. - Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. Please find Exception form attached - Seller-08/02/2023

Waived- 669 FICO for rural DSCR cash-out
- Due Diligence Vendor-08/03/2023

LTV 10% below maximum, No credit events past 48 months, No consumer late payments in last 48 months, Other: specify below
2 borrowers on the loan. LTV at 45%. DSCR at 1

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

1050108

XXXXXXX-2023-NQM4-306

Closed

FVAL5524

2023-07-10 17:08

2023-07-10 17:09

Waived

2 - Non-Material

Property

Ineligible Property

Waived-Exception Type
Material: Appraisal
Short Description
Living area <500 sq. feet
Comments
According to appraisal 446 square feet of living area. Looking forward to being approved with us.

Exception form page # 40 of 179 - Due Diligence Vendor-07/10/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1045467

XXXXXXX-2023-NQM4-306

Closed

FVAL9739

2023-07-10 17:03

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type
Material: Appraisal
Short Description
Lack of rural comparable sales within the required range.
Comments
Hi team! Got this message from collateral desk: "Exceptions required 1. Degree of Development and Growth Rate: Properties designated as "rural" to be considered on a case-by-case basis. 2. All comparable sales must be located within 4 miles of subject. 3. At least 2 closed comparable sales must be located within the same neighborhood as the subject. 4. Gross adjustments may not exceed 25%. 5. Maximum Acceptable Acreage – 5 acres." Acreage of the property exceeded the limit only by 0.18 acres. Please approve the exception, the borrower has great credit, the appraisal come in good shape and it's only [redacted] LTV. Thank you!

Exception form Page #39 of 179 - Due Diligence Vendor-07/10/2023

Waived-Exception Type
Material: Appraisal
Short Description
Lack of rural comparable sales within the required range.
Comments
Hi team! Got this message from collateral desk: "Exceptions required 1. Degree of Development and Growth Rate: Properties designated as "rural" to be considered on a case-by-case basis. 2. All comparable sales must be located within 4 miles of subject. 3. At least 2 closed comparable sales must be located within the same neighborhood as the subject. 4. Gross adjustments may not exceed 25%. 5. Maximum Acceptable Acreage – 5 acres." Acreage of the property exceeded the limit only by 0.18 acres. Please approve the exception, the borrower has great credit, the appraisal come in good shape and it's only [redacted]. Thank you!

Exception form Page #39 of 179 - Due Diligence Vendor-07/10/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1045465

XXXXXXX-2023-NQM4-307

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Refinance

No Cash Out - Borrower Initiated

XXXXXXX-2023-NQM4-308

Closed

FPRO116

2023-07-06 11:12

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-HOA insurance deductible is 10% - GL requires 5%. Exception page 15. - Due Diligence Vendor-07/06/2023

No credit events past 48 months, 5+ yr credit history, Bwr contribution exceeds 5%,

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1038520

XXXXXXX-2023-NQM4-309

Closed

FCOM1797

2023-07-11 10:03

2023-07-13 09:52

Resolved

1 - Information

Compliance

Missing Doc

Missing Service Provider List

Resolved-correct WSP list sent and is dated 6/5 - Due Diligence Vendor-07/13/2023

Ready for Review-Document Uploaded. Please find updated document attached - Seller-07/13/2023

Open-Service providers name missing on provided Service provider list - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. Please find updated document attached - Seller-07/13/2023

Resolved-correct WSP list sent and is dated 6/5 - Due Diligence Vendor-07/13/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1047117

XXXXXXX-2023-NQM4-310

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-311

Closed

FCRE6019

2023-07-09 10:19

2023-07-09 10:26

Waived

2 - Non-Material

Credit

Missing Doc

[redacted]zenship Documentation Not Provided

Waived-Exception page 162 to fund prior to receiving I-797 form. Employment authorization valid in file until 2026. - Due Diligence Vendor-07/09/2023

Revolving debt less than 30%, No credit events past 48 months, 5+ yrs credit history, Credit score > 40 points above program minimum, Bwr contribution exceeds 5%.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1042579

XXXXXXX-2023-NQM4-311

Closed

FCRE9068

2023-07-09 10:24

2023-07-09 10:25

Waived

2 - Non-Material

Credit

Eligibility

Borrower does not meet residual income requirement

Waived-Lender to accept residual less 2K. Page 158. - Due Diligence Vendor-07/09/2023

Revolving debt less than 30%, No credit events past 48 months, 5+ yrs credit history, Credit score > 40 points above program minimum, Bwr contribution exceeds 5%.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1042581

XXXXXXX-2023-NQM4-311

Closed

FCRE1193

2023-07-09 10:23

2023-07-09 10:25

Waived

2 - Non-Material

Credit

Eligibility

Audited DTI Exceeds Guideline DTI

Waived-Audited DTI of 51.28% exceeds Guideline DTI of 50% Exception page 161 - Lender approved DTI of 51% - Due Diligence Vendor-07/09/2023

Revolving debt less than 30%, No credit events past 48 months, 5+ yrs credit history, Credit score > 40 points above program minimum, Bwr contribution exceeds 5%.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1042580

XXXXXXX-2023-NQM4-311

Closed

FCRE1305

2023-07-09 09:52

Waived

2 - Non-Material

Credit

Income/Employment

Income 2 Income Trend is Decreasing

Waived-Income 2 Income Trend is Decreasing Child support obligation to bwr is $[redacted] monthly but Ex Spouse is curtailed and presently sending only $120 per month to Bwr. Lender Exception to accept partial payment credit of $100 per month. Exception page 159. - Due Diligence Vendor-07/09/2023

Revolving debt less than 30%, No credit events past 48 months, 5+ yrs credit history, Credit score > 40 points above program minimum, Bwr contribution exceeds 5%.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1042563

XXXXXXX-2023-NQM4-311

Closed

FCRE1437

2023-07-09 09:52

Waived

2 - Non-Material

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Waived-Income and Employment Do Not Meet Guidelines Less than two year work history. Bwr has been employed 1 year and 3 months. Exception page 160 - Due Diligence Vendor-07/09/2023

Revolving debt less than 30%, No credit events past 48 months, 5+ yrs credit history, Credit score > 40 points above program minimum, Bwr contribution exceeds 5%.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1042564

XXXXXXX-2023-NQM4-312

Closed

FCRE1197

2023-07-05 09:37

2023-07-19 12:15

Resolved

1 - Information

Credit

Eligibility

Audited FICO is less than Guideline FICO

Resolved-updated lock info sent - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. According to our Ratesheet for 1 unit SFR min FICO is 640. Please see snip in attachment - Seller-07/18/2023

Open-Audited FICO of 643 is less than Guideline FICO of 660 [redacted]Cash out Primary refi score is 660. No exception noted in file. - Due Diligence Vendor-07/05/2023

Ready for Review-Document Uploaded. According to our Ratesheet for 1 unit SFR min FICO is 640. Please see snip in attachment - Seller-07/18/2023

Resolved-updated lock info sent - Due Diligence Vendor-07/19/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1036039

XXXXXXX-2023-NQM4-313

Closed

FCRE8459

2023-07-15 17:13

2023-08-01 07:34

Resolved

1 - Information

Credit

Eligibility

Borrower Entity Ownership does not meet guidelines

Resolved-LLC docs are now complete.   - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Please see re-uploaded doc in attachment - Seller-08/01/2023

Counter-PDF uploaded not opening  Please re upload - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Please see Operating Agreement for[redacted] LLC in attachment - Seller-07/21/2023

Open-Missing Operating Agreement for [redacted]LLC to show borrower is owner (docs in file are for a different LLC)  - Due Diligence Vendor-07/15/2023

Ready for Review-Document Uploaded. Please see re-uploaded doc in attachment - Seller-08/01/2023

Ready for Review-Document Uploaded. Please see Operating Agreement for[redacted] LLC in attachment - Seller-07/21/2023

Resolved-LLC docs are now complete. - Due Diligence Vendor-08/01/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1055745

XXXXXXX-2023-NQM4-314

Closed

FCRE8611

2023-07-13 13:47

2023-07-25 10:18

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-Received signed P&L - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Date was provided in the 1st page with CPA letter. Please see full document in attachment. - Seller-07/24/2023

Open-P&L statement needs to be signed and dated. The given P&L statement is not dated. Page #6 of 144 - Due Diligence Vendor-07/13/2023

Ready for Review-Document Uploaded. Date was provided in the 1st page with CPA letter. Please see full document in attachment. - Seller-07/24/2023

Resolved-Received signed P&L - Due Diligence Vendor-07/25/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1053106

XXXXXXX-2023-NQM4-315

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-316

Closed

FCOM1159

2023-07-13 08:50

2023-07-19 12:15

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-received electronic proof - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/18/2023

Open-provide evidence that Revised Loan Estimate issued on 06/21/2023 was signed electronically - Due Diligence Vendor-07/13/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/18/2023

Resolved-received electronic proof - Due Diligence Vendor-07/19/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1052109

XXXXXXX-2023-NQM4-316

Closed

FCRE8012

2023-07-12 16:01

2023-07-18 08:02

Resolved

1 - Information

Credit

Missing Doc

Missing Purchase Contract

Resolved-received contract - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. See attached
- Seller-07/17/2023

Open- - Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. See attached
- Seller-07/17/2023

Resolved-received contract - Due Diligence Vendor-07/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1050800

XXXXXXX-2023-NQM4-316

Closed

FCRE1194

2023-07-12 16:01

2023-07-18 08:01

Resolved

1 - Information

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Resolved-lender provided updated info to show they relocked under June rate sheet and June allows [redacted] on RURAL - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Per lock rural property allowed for [redacted] - Seller-07/17/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] [redacted] max LTV for rural on March rate sheet. - Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. Per lock rural property allowed for [redacted] - Seller-07/17/2023

Resolved-lender provided updated info to show they relocked under June rate sheet and June allows [redacted] on RURAL - Due Diligence Vendor-07/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1050799

XXXXXXX-2023-NQM4-317

Closed

FCRE6843

2023-07-13 07:55

2023-07-24 10:35

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-Received gift letter - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. see attached - Seller-07/21/2023

Open-Need gift letter, proof donor had funds and proof donor sent gift to title $2500 gift on final HUD but no docs in file) - Due Diligence Vendor-07/13/2023

Ready for Review-Document Uploaded. see attached - Seller-07/21/2023

Resolved-Received gift letter - Due Diligence Vendor-07/24/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1051909

XXXXXXX-2023-NQM4-317

Closed

FCRE9991

2023-07-13 07:55

2023-07-18 08:20

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-received corrected tape - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. see attached - Seller-07/17/2023

Open-DSCR is 1.57. Rent $1750/$1113.81 - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. see attached - Seller-07/17/2023

Resolved-received corrected tape - Due Diligence Vendor-07/18/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1051905

XXXXXXX-2023-NQM4-318

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-319

Closed

FCRE1501

2023-07-17 10:17

2023-08-03 10:50

Resolved

1 - Information

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Resolved-Total Qualified Assets for Reserves Post-Close of [redacted] is equal to or greater than Total Required Reserve Amount of $8626.59 - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. Please find attached additional bank statements - Seller-08/02/2023

Open-Total Qualified Assets for Reserves Post-Close of $759.07 is less than Total Required Reserve Amount of $8626.59 Please provide additional assets for reserves $7,867.52.
Total Requirement [redacted] (3*$PITIA amount) , Available $ 759.06, shortage is $[redacted]- Due Diligence Vendor-07/17/2023

Ready for Review-Document Uploaded. Please find attached additional bank statements - Seller-08/02/2023

Resolved-Total Qualified Assets for Reserves Post-Close of [redacted] is equal to or greater than Total Required Reserve Amount of $8626.59 - Due Diligence Vendor-08/03/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1056956

XXXXXXX-2023-NQM4-319

Closed

FCRE9802

2023-07-17 10:49

Waived

2 - Non-Material

Credit

Eligibility

Borrower is First Time Homebuyer and Program Does Not Allow This

Waived-Borrower cannot be first time homebuyer for this program Exception Type :- Material: Appraisal, Title
Short Description :- Purchase DSCR Investment - Borrower doesn't have primary residency.
Comments :- Need Exception for Purchase DSCR Investment home, the borrower doesn't have primary residency and is buying an investment home.
Exception form available on page no 10 of 150. - Due Diligence Vendor-07/17/2023

LTV 10% below maximum, Borrower contribution exceeds requirement >=5%, Revolving debt is under 30%, No credit events past
48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1057036

XXXXXXX-2023-NQM4-320

Closed

FCRE1194

2023-07-05 12:09

2023-08-01 08:58

Resolved

1 - Information

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Resolved-updated rate sheet received and LTV is good. - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. [redacted] cash out O/O transactions at 687 FICO would go up to [redacted] LTV. Please see attached matrix. - Seller-08/01/2023

Open-Audited LTV of 74.97% exceeds Guideline LTV of [redacted] Cash out max for 680 fico is [redacted], no exception in file - Due Diligence Vendor-07/05/2023

Ready for Review-Document Uploaded. Super [redacted] cash out O/O transactions at 687 FICO would go up to [redacted] LTV. Please see attached matrix. - Seller-08/01/2023

Resolved-updated rate sheet received and LTV is good. - Due Diligence Vendor-08/01/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1036426

XXXXXXX-2023-NQM4-320

Closed

FCRE1492

2023-07-05 11:58

Waived

2 - Non-Material

Credit

Assets

Cash Out Does Not Meet Guideline Requirements

Waived-Exception found on page 44 closing pkg 2

Hi Team, could you please allow to use cash out proceeds to cover 3mo PITIA reserves on this Primary 2Y
P&L Cash out with a solid income and DTI with a minimum possible hit? Thank you in advance!

Approved as is - Due Diligence Vendor-07/05/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1036402

XXXXXXX-2023-NQM4-321

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-322

Closed

FCOM1159

2023-07-06 08:52

2023-07-21 09:51

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-received proof of delivery - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Please, find the proof attached. Thank you! - Seller-07/20/2023

Open-provide evidence that Revised Loan Estimate issues on 106/22/2023 was sent electronically
- Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Please, find the proof attached. Thank you! - Seller-07/20/2023

Resolved-received proof of delivery - Due Diligence Vendor-07/21/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1038137

XXXXXXX-2023-NQM4-322

Closed

FPRO1245

2023-07-05 14:33

2023-07-05 16:02

Waived

2 - Non-Material

Property

Appraisal

Appraisal is Expired

Waived-Document Uploaded. Appraisal is 74 days old but not expired -- dated 3/22/2023 expires 07/20/2023 and must not be older than 120 days at 0629/2023 closing - Due Diligence Vendor-07/05/2023

5 years on current job, DTI >=10% lower than loan program, No credit events past 48 months, No consumer late payments in last 48 months

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1036852

XXXXXXX-2023-NQM4-323

Closed

FCRE5770

2023-07-07 14:02

2023-07-21 10:05

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Credit Report is Missing

Resolved-received credit report. - Due Diligence Vendor-07/21/2023

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Please, find attached the Credit Report. Thank you! - Seller-07/20/2023

Open-Borrower 1 Credit Report is Missing. - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Please, find attached the Credit Report. Thank you! - Seller-07/20/2023

Resolved-received credit report. - Due Diligence Vendor-07/21/2023

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-07/21/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1041365

XXXXXXX-2023-NQM4-323

Closed

FCRE5771

2023-07-07 14:02

2023-07-21 10:05

Resolved

1 - Information

Credit

Missing Doc

Borrower 2 Credit Report is Missing

Resolved-received credit report. - Due Diligence Vendor-07/21/2023

Resolved-Borrower 2 Credit Report is not missing. - Due Diligence Vendor-07/21/2023

Ready for Review- Please, find the Credit Report in File Uploads. Thank you! - Seller-07/20/2023

Open-Borrower 2 Credit Report is Missing. - Due Diligence Vendor-07/07/2023

Ready for Review- Please, find the Credit Report in File Uploads. Thank you! - Seller-07/20/2023

Resolved-received credit report. - Due Diligence Vendor-07/21/2023

Resolved-Borrower 2 Credit Report is not missing. - Due Diligence Vendor-07/21/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1041366

XXXXXXX-2023-NQM4-323

Closed

FCRE1492

2023-07-07 14:23

Waived

2 - Non-Material

Credit

Assets

Cash Out Does Not Meet Guideline Requirements

Waived-Lender granted exception for cash out refi with less than 12-month ownership, and asking to allow not documenting improvements

see page 1 - Due Diligence Vendor-07/07/2023

Several income sources and DTI below 45%, No credit events past 48 months, No consumer late payments in last 48 months, Reserves>6 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1041426

XXXXXXX-2023-NQM4-324

Closed

1000647-1002005

2023-07-06 11:34

2023-07-21 10:28

Resolved

1 - Information

Compliance

Tolerance:Disclosure

Federal - List of Settlement Service Providers Mailed/Delivered Within Three Business Days of Application

Resolved-received corrected document - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Please, find the correct Service Provider List attached. It was issued on the same date as the Loan Estimate. Thank you! - Seller-07/20/2023

Open-The List of Settlement Service Providers Disclosure Date (2023-06-20) is more than 3 business days from the Application Date (2023-06-07). Three business days from the Application Date is (2023-06-12). Under Regulation Z, e List of Settlement Service Providers must be delivered or placed in the mail not later than the third business day after receiving a consumer's application.(12 CFR 1026.19(e)(1)(vi); 1026.19(e)(1)(iii)) - Due Diligence Vendor-07/06/2023

Ready for Review-Document Uploaded. Please, find the correct Service Provider List attached. It was issued on the same date as the Loan Estimate. Thank you! - Seller-07/20/2023

Resolved-received corrected document - Due Diligence Vendor-07/21/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1038601

XXXXXXX-2023-NQM4-324

Closed

FCRE8611

2023-07-05 14:04

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Exception on page 770

CPA will not put ownership for 2023
Request to use CPA ownership percentage letter for end of year 2022. CPA will not write letter for 2023 since taxes have not been filed for 2023

Approved with conditions of +0.375 to the rate, need verification that business is active - Due Diligence Vendor-07/05/2023

Several income sources and DTI below 45%, Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan
program, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1036784

XXXXXXX-2023-NQM4-324

Closed

FCRE6843

2023-07-05 14:03

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception found on page 769

More than 3 NSFs in 12m

Approved with conditions of + 0.125 to the rate - Due Diligence Vendor-07/05/2023

Several income sources and DTI below 45%, Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan
program, No mortgage late payments in last 24 months, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1036777

XXXXXXX-2023-NQM4-325

Closed

FCRE1493

2023-07-07 15:18

2023-07-21 10:35

Resolved

1 - Information

Credit

Eligibility

Trade line count does not meet program requirements

Resolved-lender sent proof of alt trade payments - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Alternative tradelines were applied. Please, find attached. Thank you! - Seller-07/20/2023

Open-Borrower only has one open tradeline from over 12 months not counting the accounts that are authorized user. - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Alternative tradelines were applied. Please, find attached. Thank you! - Seller-07/20/2023

Resolved-lender sent proof of alt trade payments - Due Diligence Vendor-07/21/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1041554

XXXXXXX-2023-NQM4-326

Closed

FCRE1194

2023-07-10 09:09

2023-07-24 10:40

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception Granted: Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Max LTV for investment cash out with a 724 FICO on
Super [redacted] SFR is [redacted]
- Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Please, find attached the Exception form. Thank you! - Seller-07/21/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Max LTV for investment cash out with a 724 FICO on Super [redacted] SFR is [redacted] - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Please, find attached the Exception form. Thank you! - Seller-07/21/2023

Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan program, No credit events past 48 months, No
mortgage late payments in last 24 months

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

1044023

XXXXXXX-2023-NQM4-326

Closed

FCRE9991

2023-07-13 14:34

2023-07-21 06:34

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-Lender supplied their actual calculations and the missing credit report.  we are now within 1% of DTI.  finding is cleared - Due Diligence Vendor-07/21/2023

Counter-DTI still not correct.  with credit report and adding the[redacted] debt the DTI is NOW 18.40.  Fix DTI- 1008 DTI 18.40%. Using full PITI of $-[redacted]and Primary expenses of [redacted] (debt from credit report $1112 and $250 IRS repayment debt)  this totals $[redacted]/ [redacted] income = 18.40% - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please, find the updated tape attached. The verified DTI is 10.08% - per the Credit report, [redacted] monthly payment of $634 is added to Liabilities. Thank you! - Seller-07/20/2023

Open-Fix DTI-   1008 DTI 12.189%.  Audited DTI 15.58% using full PITI of $-[redacted] and Primary expenses of $[redacted] plus debts from 1003.  (credit report missing).  If used rents to offset, DTI is 7.13% - Due Diligence Vendor-07/13/2023

Ready for Review-Document Uploaded. Please, find the updated tape attached. The verified DTI is 10.08% - per the Credit report,[redacted] monthly payment of $[redacted] is added to Liabilities. Thank you! - Seller-07/20/2023

Resolved-Lender supplied their actual calculations and the missing credit report. we are now within 1% of DTI. finding is cleared - Due Diligence Vendor-07/21/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1053249

XXXXXXX-2023-NQM4-326

Closed

FCRE5770

2023-07-10 08:49

2023-07-20 11:36

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Credit Report is Missing

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please, find the credit report attached. Thank you! - Seller-07/20/2023

Open-Borrower 1 Credit Report is Missing. - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Please, find the credit report attached. Thank you! - Seller-07/20/2023

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-07/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1043956

XXXXXXX-2023-NQM4-327

Closed

FVAL4036

2023-07-11 14:16

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Lender Granted Exception for Seller in title less than a year

See page 1019 - Due Diligence Vendor-07/11/2023

Several income sources and DTI below 45%, Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, DTI >=10% lower than loan program, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1047864

XXXXXXX-2023-NQM4-328

Closed

FCRE1197

2023-07-10 05:11

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 664 is less than Guideline FICO of 680 Exception per UW request for fico on rural
Comments Loan is approved, Underwriting requesting exception on fico due to Rural Property. Property was appraised
and came back as Suburban, Zoned as SF-1 on public electric and water. Property was not appraised as
Rural. After underwriter review requesting exception. UW Condition: Suspense Approved exception form
required for the following: FICO below 680 on rural property. Min fico for rural is 680 borrowers mid score is
664. This is a R/T Refi. Please take this into consideration for review with no adjustment as property did not
appraise as rural. Attached is a copy of the credit report and appraisal for reference - Due Diligence Vendor-07/10/2023

5 years on current job, No credit events past 48 months, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1043431

XXXXXXX-2023-NQM4-329

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-330

Closed

FCRE8611

2023-07-07 07:13

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Buyer does not have 12 months of same bank account. He switched from [redacted] to [redacted], so we have 10
months of [redacted] and 2 months of[redacted]
Comments The borrower does not have 12 months of the same business bank account for income calculation. He
switched from[redacted] to [redacted] in Aug 2022 so he has 10 months of [redacted] and 2 months of[redacted].
He switched bank because he is getting more benefits from [redacted]. He has been the business owner for
22 years.
- Due Diligence Vendor-07/07/2023

Waived-Buyer does not have 12 months of same bank account. He switched from [redacted] to [redacted], so we have 10
months of [redacted] and 2 months of [redacted].
Comments The borrower does not have 12 months of the same business bank account for income calculation. He
switched from [redacted] to [redacted] in Aug 2022 so he has 10 months of [redacted] and 2 months of [redacted].
He switched bank because he is getting more benefits from [redacted]. He has been the business owner for
22 years.
- Due Diligence Vendor-07/07/2023

5 years on current job, DTI >=10% lower than loan program, 10 years or more in same line of employment, No credit events past 48
months, 5+ years credit history, LTV 10% below maximum, Credit score >40 points than minimum required, Borrower contribution
exceeds requirement >=5%, Reserves>6 months
page 1

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1040168

XXXXXXX-2023-NQM4-331

ATR/QM: Exempt

[redacted]

Investment

Refinance

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

XXXXXXX-2023-NQM4-332

Closed

FPRO1244

2023-07-07 10:01

2023-08-04 07:45

Resolved

1 - Information

Property

Missing Doc

3rd Party Valuation Product is Required and Missing

Resolved-AVM now present - Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded. Correct AVM report provided - Seller-08/03/2023

Open-CA AVM is present but there is no visible date on the document. - Due Diligence Vendor-07/07/2023

Ready for Review-Document Uploaded. Correct AVM report provided - Seller-08/03/2023

Resolved-AVM now present - Due Diligence Vendor-08/04/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1040716

XXXXXXX-2023-NQM4-333

Closed

FCRE1199

2023-07-09 09:17

2023-07-09 09:18

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is greater than Guideline Maximum Loan Amount

Waived-Document Uploaded. Exception allowing >$2MM loan with [redacted] LTV and DSCR >1.1 adding 0.75 in Price, CUW value review required and [redacted] agrees with property value. - Due Diligence Vendor-07/09/2023

DSCR=> 1.3 , Experienced investor with 2+ investment properties, Borrower contribution exceeds requirement >=5%, Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals), tremendous equity in multiple REO

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1042549

XXXXXXX-2023-NQM4-334

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

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

XXXXXXX-2023-NQM4-335

Closed

FCOM1797

2023-07-11 09:56

2023-07-31 14:44

Resolved

1 - Information

Compliance

Missing Doc

Missing Service Provider List

Resolved-Received service provider list - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Please find attached - Seller-07/31/2023

Open-Service providers name missing on provided Service provider list - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. Please find attached - Seller-07/31/2023

Resolved-Received service provider list - Due Diligence Vendor-07/31/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

N/A

1047073

XXXXXXX-2023-NQM4-335

Closed

FVAL5524

2023-07-11 05:52

Waived

2 - Non-Material

Property

Ineligible Property

Waived-Purchase transaction for unique property (dome home). We have really strong borrowers - Due Diligence Vendor-07/11/2023

Revolving debt is under 30%, DTI >=10% lower than loan program, No credit events past 48 months, No mortgage late payments in
last 24 months, No consumer late payments in last 48 months, Credit score >40 points than minimum required
page 9

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

Originator Pre-Close

Yes

1046334

XXXXXXX-2023-NQM4-336

Closed

FCRE8611

2023-07-07 08:37

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Exception page 3 - Asset utilization requires asset be seasoned four months. Bwr's assets are seasoned for two. Bwr sold REO recently for the cash in account -see HUD page 110. - Due Diligence Vendor-07/07/2023

No credit events past 48 months, No mortgage lates last 24 months, 5+ yr credit history.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1040427

XXXXXXX-2023-NQM4-337

Closed

5000640

2023-07-10 11:32

2023-07-21 10:49

Resolved

1 - Information

Compliance

Mavent

License: Loan Originator

Resolved-branch office - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Please, find the NMLS verification attached. Thank you! - Seller-07/20/2023

Open-A relationship between[redacted]([redacted]) and the company (Company NMLS ID: 1071249) does not exist in the NMLS as of 2023-07-05. However, other relationship(s) were found in the NMLS for this individual and may be found in the NMLS Info section. - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Please, find the NMLS verification attached. Thank you! - Seller-07/20/2023

Resolved-branch office - Due Diligence Vendor-07/21/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1044537

XXXXXXX-2023-NQM4-338

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-339

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

XXXXXXX-2023-NQM4-340

Closed

FCRE1194

2023-07-06 10:56

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Exception found on page 288

Borrower wants [redacted] LTV

Approved with conditions of +0.375 to the rate, [redacted] ltv max - Due Diligence Vendor-07/06/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1038473

XXXXXXX-2023-NQM4-341

Closed

FCRE1493

2023-07-07 11:15

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-Bwr has only 1 active trade rated for 66 months. Exception page 883 (note all comp factors are credit related) - Due Diligence Vendor-07/07/2023

Revolving debt under 30%, No credit events past 48 months, No mortgage lates last 24 months, No consumer lates last 48 months, Credit score > 40 points above program minimum.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1040886

XXXXXXX-2023-NQM4-342

Closed

FCRE9991

2023-07-07 22:13

2023-07-11 10:45

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-updated tape present - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/10/2023

Open-TPR DSCR is 1.03 Data tape shows 1.06 Verified P&I , Taxes and Insurance and rent to be correct. Difference is HOA was included in TPR calc - Due Diligence Vendor-07/08/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/10/2023

Resolved-updated tape present - Due Diligence Vendor-07/11/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1041736

XXXXXXX-2023-NQM4-343

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-344

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-345

Closed

FCRE1440

2023-07-10 07:07

2023-07-24 10:47

Waived

2 - Non-Material

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Waived-Exception granted: Allow to accept mortgage late 1x 30 with [redacted] (8/22) - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/21/2023

Open-Housing History Does Not Meet Guideline Requirements mortgage late 1x 30 with [redacted](8/22) - Due Diligence Vendor-07/10/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/21/2023

Waived-Exception granted: Allow to accept mortgage late 1x 30 with [redacted] (8/22) - Due Diligence Vendor-07/24/2023

Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, DTI >=10% lower than loan program, 10 years or
more in same line of employment, 5+ years credit history, Reserves>6 month

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

1043623

XXXXXXX-2023-NQM4-346

Closed

FCRE1194

2023-07-15 10:51

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Max LTV for DSCR < .75 is [redacted] Rate and Term. Lender exception page 13 to allow up to [redacted] - Due Diligence Vendor-07/15/2023

Waived-Audited LTV of 72.44% exceeds Guideline LTV of [redacted] Max LTV for DSCR < .75 is [redacted] Rate and Term. Lender exception page 13 to allow up to [redacted] - Due Diligence Vendor-07/15/2023

Revolving debt under 30%, No credit events past 48 months, No mortgage lates last 24 months, 5+ yrs credit history, No consumer lates last 48 months, Credit Score > 40 points above program minimum, Reserves > 6 months.

ATR/QM: Exempt

[redacted]

Investment

Refinance

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

Originator Pre-Close

Yes

1055687

XXXXXXX-2023-NQM4-347

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-348

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-349

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-350

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-351

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-352

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-353

Closed

50001251

2023-07-10 13:45

2023-07-31 16:12

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-Document Uploaded. Lender confirmed along with evidence of disclose to borrower that the draft LE in the file dated [redacted] was only a draft. The first LE which was verified to be disclosed electronically to the borrower and signed by borrower was dated [redacted] Using the baseline for fees from this LE shows that the proper disclose was made to borrower within 3 days of application date deemed to be [redacted]. This eliminated the fee discrepancy. Finding is resolved. - Due Diligence Vendor-07/31/2023

Counter-Disagree. Initial 1003 shows LO took application on [redacted]. LE from[redacted] page 445-446 is not a title only fee estimate.  It has the borrower name, Loan amount, subject address, sale price and all broker and lender and title fees.  valid finding - Due Diligence Vendor-07/21/2023

Ready for Review-Please disregard. This is the broker's preCD with title fees, not ours. Initial disclosures were issued on [redacted], there were no disclosures before this date.  - Seller-07/20/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Attorney's Fees. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). In the Initial LE dated [redacted] There was no Attorney fee,( pg.# 446 of 477) but on Revised LE - dated : 06/12/2023 ,Attorney Fee updated as $1500  (Pg.# 214 of 477). Please provide COC for the same. - Due Diligence Vendor-07/10/2023

Ready for Review-Please disregard. This is the broker's preCD with title fees, not ours. Initial disclosures were issued on 06/12, there were no disclosures before this date. - Seller-07/20/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1045021

XXXXXXX-2023-NQM4-354

Closed

2260

2023-07-18 12:48

2023-07-20 11:53

Resolved

1 - Information

Compliance

Mavent

Prepayment: Penalty

Resolved-lender confirmed no PPP - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Lock confirmation with PPP 0 year provided - Seller-07/19/2023

Open-confirm [redacted] loan does not have a prepay - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Lock confirmation with PPP 0 year provided - Seller-07/19/2023

Resolved-lender confirmed no PPP - Due Diligence Vendor-07/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1059716

XXXXXXX-2023-NQM4-355

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-356

Closed

FCRE5275

2023-07-11 15:02

2023-07-11 15:04

Waived

2 - Non-Material

Credit

Eligibility

Asset do not meet guidelines

Waived-Document Uploaded. Exception (pg 695) majority of cash to close from spouse who is not on loan, but on Title. Approved with condition to +0.5 in Price - Due Diligence Vendor-07/11/2023

Experienced investor with 2+ investment properties, Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1048007

XXXXXXX-2023-NQM4-357

Closed

FCRE1199

2023-07-12 10:21

2023-07-25 10:26

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is greater than Guideline Maximum Loan Amount

Waived-Exception granted for loan amount over [redacted] - Due Diligence Vendor-07/25/2023

Ready for Review-Exception granted:   Max loan amount [redacted] 0.25 to the rate - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Please see updated exception along with email from [redacted]. - Seller-07/21/2023

Counter-Your waiver on page 1008 capped loan amount as a condition of approval-  Credit Decision Status Approved with conditions Conditions: Max loan amount [redacted], 0.25 to the rate.  Finding is valid - Due Diligence Vendor-07/21/2023

Ready for Review-Max loan amount per matrix is $4,000.000.00. Current loan amount is[redacted] .No exception is needed. - Seller-07/20/2023

Open-Audited Loan Amount of $[redacted] is greater than the Guideline Maximum Loan Amount of $[redacted]  - a condition of the exception on page 1007 for use of current value is $880,000. - Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. Please see updated exception along with email from [redacted]. - Seller-07/21/2023

Ready for Review-Max loan amount per matrix is $4,000.000.00. Current loan amount is [redacted] .No exception is needed. - Seller-07/20/2023

Waived-Exception granted for loan amount over $[redacted]- Due Diligence Vendor-07/25/2023

Revolving debt is under 30%, 5 years on current job, Residual income >= 3000

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

1049770

XXXXXXX-2023-NQM4-357

Closed

FCRE1194

2023-07-12 10:21

2023-07-24 10:51

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception granted: Use LTV current appraised value - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/21/2023

Counter-this waiver shows LTV submitted at [redacted] and only asks to use appraised value for LTV, not addressing the issue that LTV exceeds maximum - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Please review the exception we had in file for LTV. - Seller-07/20/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Max LTV for cash out investment is [redacted] - Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/21/2023

Ready for Review-Document Uploaded. Please review the exception we had in file for LTV. - Seller-07/20/2023

Waived-Exception granted: Use LTV current appraised value - Due Diligence Vendor-07/24/2023

Revolving debt debt is under 30%, 5 years on current job, Residual income>= 3000

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

1049769

XXXXXXX-2023-NQM4-357

Closed

FCRE9991

2023-07-18 12:51

2023-07-21 11:15

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-lender confirmed ok to use 1007 to offset and DTI is within 2% - Due Diligence Vendor-07/21/2023

Ready for Review-All REO's s were included to DTI calculations. our DTI is ($27,089 +372.21+$1,337.67)/148,200.46=19.432% .It's with in 2% tolerance ,we should be good on DTI. Subject property is currently rented for $7800 per 1007 .Net rent from subject would be $372.21. - Seller-07/20/2023

Open-fix tape. 1008 DTI 17.543% Audited DTI 24.62% Difference is due to rental income/loss. The final 1003 reflects income from rent but no leases or tax returns were provided. Please fix DTI to match 24.62 - Due Diligence Vendor-07/18/2023

Ready for Review-All REO's s were included to DTI calculations. our DTI is ($27,089 +372.21+$1,337.67)/148,200.46=19.432% .It's with in 2% tolerance ,we should be good on DTI. Subject property is currently rented for $7800 per 1007 .Net rent from subject would be $372.21. - Seller-07/20/2023

Resolved-lender confirmed ok to use 1007 to offset and DTI is within 2% - Due Diligence Vendor-07/21/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1059721

XXXXXXX-2023-NQM4-357

Closed

FCRE1764

2023-07-18 12:54

Waived

2 - Non-Material

Credit

Missing Doc

Missing Verification of Mortgage

Waived-As per Mortgage payment history of [redacted] #[redacted], Borrower is Short
payment for the period September-October 2022. We are not able to verify payments were accepted timely by
the lender for the months Sep, Oct,Nov'22 and there is no late payment. Also, a letter from Lender & VOM
cannot be provided to verify that no late payment within past 12 months".. Please find borrowers LOX along
with Sept-Nov 22 bank statements showing he made those payments. VOM of MTG or Letter from the bank
confirming no lates takes around a week to get bank says, and this loan is due to close by Thursday - Due Diligence Vendor-07/18/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1059726

XXXXXXX-2023-NQM4-357

Closed

FCRE1492

2023-07-12 10:24

Waived

2 - Non-Material

Credit

Assets

Cash Out Does Not Meet Guideline Requirements

Waived-Lender granted exception to use current appraised value

See page 1007 - Due Diligence Vendor-07/12/2023

Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, DTI >=10% lower than loan program, 10 years or more in same line of employment, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Reserves>6 months, 1) The borrower closed 5 loans with [redacted], never been delayed on payments 2) per Zillow rent estimate DSCR is around 2

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1049778

XXXXXXX-2023-NQM4-357

Closed

FCRE9806

2023-07-12 10:23

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Lender granted exception for mortgage late payment

See page 1006 - Due Diligence Vendor-07/12/2023

Several income sources and DTI below 45%, Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, DTI >=10% lower than loan program, 10 years or more in same line of employment, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Reserves>6 months, 1.5 loans with us, never been late on payments. 2. reserves>24mo.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1049777

XXXXXXX-2023-NQM4-358

Closed

FPRO8999

2023-07-10 10:12

2023-07-10 10:16

Waived

2 - Non-Material

Property

Non-Warrantable Condo not eligible property type

Waived-Document Uploaded. Exception (pg 1 - 2) non-warrantable condo - owner occupied 14% and investment 86%. Approved with conditions +0.375 to Price, [redacted] LTV max, DSCR>=0.9 - Due Diligence Vendor-07/10/2023

Experienced investor with 2+ investment properties, Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals)

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1044266

XXXXXXX-2023-NQM4-358

Closed

FVAL5472

2023-07-10 10:15

2023-07-10 10:16

Waived

2 - Non-Material

Property

Property or house size is outside of guidelines

Waived-Document Uploaded. Exception (pg 2 - 2) subject property is less than 500 sqft. Approved with conditions +1 in Price, DSCR>=0.9, full value review required. - Due Diligence Vendor-07/10/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1044273

XXXXXXX-2023-NQM4-359

Closed

FCRE9991

2023-07-12 05:51

2023-07-13 10:49

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-updated tape present. - Due Diligence Vendor-07/13/2023

Ready for Review-Document Uploaded. Confirmed. DSCR ratio is 0.866. Please find updated Tape attached. - Seller-07/12/2023

Open-DSCR score is .87 (used [redacted] of AIRDNA in file page 300= $3500/mo for rent) - Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. Confirmed. DSCR ratio is 0.866. Please find updated Tape attached. - Seller-07/12/2023

Resolved-updated tape present. - Due Diligence Vendor-07/13/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1048880

XXXXXXX-2023-NQM4-359

Closed

FCRE7375

2023-07-12 05:52

Waived

2 - Non-Material

Credit

Borrower

[redacted]zenship Does Not Meet Guideline Requirements

Waived-EAD indicates a category C18, borrower does not have a visa. He is currently a resident pending card renewal,
order dismissed deportation case
- Due Diligence Vendor-07/12/2023

Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months,
5+ years credit history
page 17

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1048881

XXXXXXX-2023-NQM4-360

Closed

FVAL9739

2023-07-13 14:12

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type:-Material: Appraisal, Loan Amount, LTV
Short Description:- Using appraised value
Hi! as per Guidelines we need to use the purchase price and made improvements. The broker cannot provide any more invoices for improvements. The file is invalid due to LTV. Asking to proceed with the appraised value at [redacted] LTV. Please, advise. Thank you!
Exception Page#7 of 29
- Due Diligence Vendor-07/13/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments
in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1053204

XXXXXXX-2023-NQM4-361

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-362

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-363

Closed

FCRE1441

2023-07-11 17:28

2023-07-11 17:30

Waived

2 - Non-Material

Credit

Eligibility

Delinquent Credit History Does Not Meet Guideline Requirements

Waived-Document Uploaded. Exception (pg 404 credit) requesting to keep collection acct[redacted] for $5441 for DSCR purchase -- approved with conditions +0.5 to Price, [redacted] LTV max, DSCR>=1 - Due Diligence Vendor-07/11/2023

Waived-Document Uploaded. Exception (pg 404 credit) requesting to keep collection [redacted] for $5441 for DSCR purchase -- approved with conditions +0.5 to Price, [redacted] LTV max, DSCR>=1 - Due Diligence Vendor-07/11/2023

LTV 10% below maximum, 5+ years credit history, Credit score >40 points than minimum required, DSCR > 1; Borrower contribution exceeds the minimal requirement of more than 10%; More than 15 months of reserves.

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1048268

XXXXXXX-2023-NQM4-364

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-365

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-366

Closed

FCRE1480

2023-07-12 08:09

2023-07-24 10:55

Resolved

1 - Information

Credit

Assets

Asset 2 Does Not Meet Guideline Requirements

Resolved-Received correct bank account - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Here is June - Seller-07/21/2023

Counter-wrong month. - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. see attached - Seller-07/20/2023

Counter-wrong account. see account number that was listed in original finding - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. See attached - Seller-07/19/2023

Open-Asset Record 2 Does Not Meet G/L Requirements Only 1 month stmt for [redacted] account [redacted] in file- need additional one month statement (04/2023 or 06/2023). - Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. Here is June - Seller-07/21/2023

Ready for Review-Document Uploaded. see attached - Seller-07/20/2023

Ready for Review-Document Uploaded. See attached - Seller-07/19/2023

Resolved-Received correct bank account - Due Diligence Vendor-07/24/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1049337

XXXXXXX-2023-NQM4-366

Closed

FCRE1197

2023-07-12 08:15

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 646 is less than Guideline FICO of 660 Exception to accept 646 mid score for cash out on page 719 - Due Diligence Vendor-07/12/2023

No mortgage late payments past 24 months, 5+ yr credit history, 50% LTV.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1049350

XXXXXXX-2023-NQM4-367

Closed

FCRE1248

2023-07-11 08:08

2023-08-01 09:21

Resolved

1 - Information

Credit

Eligibility

Purchase is not considered to be an Arm's Length Transaction

Resolved-Desk review product provided - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Please find CDA report attached - Seller-07/31/2023

Open-Purchase is not considered to be an Arm's Length Transaction Review product needed, not provided in file - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. Please find CDA report attached - Seller-07/31/2023

Resolved-Desk review product provided - Due Diligence Vendor-08/01/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1046763

XXXXXXX-2023-NQM4-368

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

No Cash Out - Borrower Initiated

XXXXXXX-2023-NQM4-369

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-370

Closed

50001251

2023-07-12 11:47

2023-07-19 12:19

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-Resolved.  Received COC - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Please see attached  - Seller-07/18/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)).  Please provide COC for Loan Discount Fee,  in the Revised CD dated 06/30/2023 Loan Discount Fee#2437.50,( pg.# 466 of 739) but on Final CD - dated : 07/06/2023 Loan Discount Fee for
$2475  (Pg.# 217 of 739) - Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/18/2023

Resolved-Resolved. Received COC - Due Diligence Vendor-07/19/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1050025

XXXXXXX-2023-NQM4-370

Closed

FVAL9739

2023-07-12 08:15

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception on page 720

UW requesting approved exception for rural property that the Neighborhood Area is less than 25% built-up & Comparable sales 3/4 exceed the maximum distance for new construction guidelines. Good credit 764 with no lates & low LTV (55.762%), requesting to proceed please. Thank you

Approved with conditions +0.25 to rate, Max LTV 60 - Due Diligence Vendor-07/12/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments
in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1049348

XXXXXXX-2023-NQM4-371

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-372

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-373

Closed

FCRE6843

2023-07-11 09:42

2023-07-25 10:27

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-Received proof of wire confirmation - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. We have received the wire confirmation, according to which the donor has not transferred the whole $57,000 Gift. Please see the attached document, confirming the transfer of $43,575.19 - Seller-07/24/2023

Counter-if we remove gift, we are now short cash to close and reserves by $42206.46. Need additional funds or proof borrower received this gift. - Due Diligence Vendor-07/20/2023

Ready for Review-Gift funds were not used at the closing stage, which is confirmed by the Final CD - Seller-07/19/2023

Open-Gift letter for funds to cover reserves on page 45. Stated given at closing, no proof of this deposit / transfer.

Inputted funds onto assets, proof needed to pass reserves. - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. We have received the wire confirmation, according to which the donor has not transferred the whole $57,000 Gift. Please see the attached document, confirming the transfer of $43,575.19 - Seller-07/24/2023

Ready for Review-Gift funds were not used at the closing stage, which is confirmed by the Final CD - Seller-07/19/2023

Resolved-Received proof of wire confirmation - Due Diligence Vendor-07/25/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1047027

XXXXXXX-2023-NQM4-374

Closed

FVAL9739

2023-07-14 13:02

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type:- Material: Appraisal
Short Description :- Appraised value
Improvements $[redacted] Exception is to use the actual value of property. AVM $[redacted]. Appraisal $[redacted]
Exception Pg# 617 of 668 - Due Diligence Vendor-07/14/2023

Waived-Exception Type:- Material: Appraisal
Short Description :- Appraised value
Improvements [redacted]. Exception is to use the actual value of property. AVM $[redacted]. Appraisal [redacted]
Exception Pg# 617 of 668 - Due Diligence Vendor-07/14/2023

Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1055135

XXXXXXX-2023-NQM4-375

Closed

FCRE1493

2023-07-18 07:04

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-exception on non-standard tradelines - Due Diligence Vendor-07/18/2023

Several income sources and DTI below 45%, No credit events past 48 months, No mortgage late payments in last 24 months, No
consumer late payments in last 48 months, Credit score >40 points than minimum required
page 487

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1058560

XXXXXXX-2023-NQM4-376

Closed

FCOM9970

2023-07-11 16:47

2023-07-14 10:23

Resolved

1 - Information

Compliance

Missing Doc

Missing Compliance Documentation Unable to Test Compliance

Resolved-compliance completed - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. see attached - Seller-07/13/2023

Open-Missing final TIL and/or other documentation necessary to run Compliance Testing. Missing initial closing disclosure documentation necessary to run Compliance Testing. - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. see attached - Seller-07/13/2023

Resolved-compliance completed - Due Diligence Vendor-07/14/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1048239

XXXXXXX-2023-NQM4-376

Closed

50001251

2023-07-14 08:34

2023-07-14 08:47

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-Resolved - Due Diligence Vendor-07/14/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: MERS Registration Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). - Due Diligence Vendor-07/14/2023

Resolved-Resolved - Due Diligence Vendor-07/14/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1054585

XXXXXXX-2023-NQM4-376

Closed

50001252

2023-07-14 08:34

2023-07-14 08:47

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-Resolved - Due Diligence Vendor-07/14/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: MERS Registration Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). - Due Diligence Vendor-07/14/2023

Resolved-Resolved - Due Diligence Vendor-07/14/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1054586

XXXXXXX-2023-NQM4-376

Closed

FCOM4227

2023-07-11 16:46

2023-07-14 07:37

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-docs received. - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. See attached - Seller-07/13/2023

Open-Initial Closing disclosure is missing in package. - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. See attached - Seller-07/13/2023

Resolved-docs received. - Due Diligence Vendor-07/14/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1048238

XXXXXXX-2023-NQM4-376

Closed

FCRE6843

2023-07-11 14:20

2023-07-14 06:57

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-title confirmed receipt of emd - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. See attached - Seller-07/13/2023

Open-need proof borrower gave $10k Earnest money to title - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. See attached - Seller-07/13/2023

Resolved-title confirmed receipt of emd - Due Diligence Vendor-07/14/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1047882

XXXXXXX-2023-NQM4-377

Closed

50001251

2023-07-11 13:37

2023-07-18 13:12

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-COC and LE received. - Due Diligence Vendor-07/18/2023

Resolved-Resolved - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/17/2023

Counter-there is no disclosure from 6/7 - this COC does not have a corresponding CD / LE to go with it - Due Diligence Vendor-07/17/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/14/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). Points - Loan Discount Fee increased from $0 LE dated 5/2/2023 to $7,500 initial CD dated [redacted], Need COC for the same. - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/17/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/14/2023

Resolved-COC and LE received. - Due Diligence Vendor-07/18/2023

Resolved-Resolved - Due Diligence Vendor-07/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1047736

XXXXXXX-2023-NQM4-377

Closed

50001252

2023-07-11 13:37

2023-07-18 13:12

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-COC and LE received. - Due Diligence Vendor-07/18/2023

Resolved-Resolved - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. see attached - Seller-07/17/2023

Counter-there is no disclosure from 6/7 - this COC does not have a corresponding CD / LE to go with it - Due Diligence Vendor-07/17/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/14/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). Points - Loan Discount Fee increased from $0 LE dated 5/2/2023 to $7,500 initial CD dated 6/22/2023, Need COC for the same. - Due Diligence Vendor-07/11/2023

Ready for Review-Document Uploaded. see attached - Seller-07/17/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/14/2023

Resolved-COC and LE received. - Due Diligence Vendor-07/18/2023

Resolved-Resolved - Due Diligence Vendor-07/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1047737

XXXXXXX-2023-NQM4-377

Closed

FVAL5474

2023-07-11 10:55

Waived

2 - Non-Material

Property

Condo project is ineligible

Waived-Historical property with only 17 out of 190 units owner occupied and a single entity owns 165 of the unit plus 8 units of the commercial space. Exception Page 644- HOA cert pg 135. - Due Diligence Vendor-07/11/2023

No mortgage lates last 24 months, 5+ yr credit history, 2+ borrowers on loan, Reserves > 6 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1047271

XXXXXXX-2023-NQM4-378

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-379

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-380

Closed

FCRE1491

2023-07-18 11:18

2023-07-20 12:41

Resolved

1 - Information

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Resolved-Asset Qualification Meets Guideline Requirements - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. see attached - Seller-07/19/2023

Open-Asset Qualification Does Not Meet Guideline Requirements Please provide evidence the funds of $18,000 have cleared from the borrower's account.
Note: per guideline - deposits must be verified with an Escrow letter from a Third party along with evidence the funds have cleared the borrower's account. - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. see attached - Seller-07/19/2023

Resolved-Asset Qualification Meets Guideline Requirements - Due Diligence Vendor-07/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1059435

XXXXXXX-2023-NQM4-380

Closed

FCRE1500

2023-07-18 11:18

2023-07-20 12:41

Resolved

1 - Information

Credit

Assets

Liquid Funds Post-Close is less than $0

Resolved-Liquid Funds Post Close are [redacted] - Due Diligence Vendor-07/20/2023

Resolved-assets now present. - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. see attached - Seller-07/19/2023

Open-Liquid Funds Post Close are less than $0 Please provide assets.
Total Requirement $190,479.12, Available $0, shortage is 190,479.12. - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. see attached - Seller-07/19/2023

Resolved-Liquid Funds Post Close are [redacted] - Due Diligence Vendor-07/20/2023

Resolved-assets now present. - Due Diligence Vendor-07/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1059436

XXXXXXX-2023-NQM4-380

Closed

FCRE1501

2023-07-18 11:18

2023-07-20 12:41

Resolved

1 - Information

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Resolved-Total Qualified Assets for Reserves Post-Close of $[redacted] is equal to or greater than Total Required Reserve Amount of $11211.12 - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/19/2023

Open-Total Qualified Assets for Reserves Post-Close of $0 is less than Total Required Reserve Amount of $11211.12 Please provide assets for reserves. Total Requirement $11,211.11 ([redacted]*$[redacted]) , Available $ 0, shortage is $11,211.11. (this in addition to funds for closing and EMD needing to be verified) - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/19/2023

Resolved-Total Qualified Assets for Reserves Post-Close of $[redacted] is equal to or greater than Total Required Reserve Amount of $11211.12 - Due Diligence Vendor-07/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1059437

XXXXXXX-2023-NQM4-380

Closed

FCOM5413

2023-07-18 11:34

2023-07-20 12:37

Resolved

1 - Information

Compliance

Missing Doc

Prepayment Penalty Information Unavailable

Resolved-lender confirmed no ppp - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Per lock there is no PPP - Seller-07/19/2023

Open-Pls confirm if no prepayment in the [redacted] state - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Per lock there is no PPP - Seller-07/19/2023

Resolved-lender confirmed no ppp - Due Diligence Vendor-07/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1059473

XXXXXXX-2023-NQM4-381

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-382

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-383

Closed

FCRE8611

2023-07-12 10:19

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Exception on page 780

Changing the bank account used for income qualification from[redacted] for personal preference instead of fraud.

Approved as is - Due Diligence Vendor-07/12/2023

Several income sources and DTI below 45%, 5 years on current job, No credit events past 48 months, No mortgage late payments in
last 24 months, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1049765

XXXXXXX-2023-NQM4-384

Closed

FCRE9991

2023-07-12 07:08

2023-07-14 11:16

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-updated tape received.  - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. Updated tape uploaded with DTI 33.27% - Seller-07/14/2023

Counter-Income is now 12511.19

Debts are $3591.77 PITIA on subject
Credit report debts total $571  (this also matches debts listed on final 1003)
Total debt is $ 4162.77 /$12511.19= 33.27

We need tape to show this.
- Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. updated tape uploaded. - Seller-07/14/2023

Counter-Incorrect.  Final 1003 shows income at $[redacted] per month.  Also income calc worksheet on page 402 has total deposits of $300268.50 for 12 months.  After you divide by 12 and then take a 50% expense ratio, your income is only $12511.66  Your income of $[redacted] is not supported.  - Due Diligence Vendor-07/14/2023

Ready for Review-income is $27,108.21 . DTI calculations are ([redacted]=13.673%. Tape has accurate DTI - Seller-07/13/2023

Open-DTI is 29.69% ($[redacted] income and debt are $[redacted] PITIA plus $571 debt from credit report).  need tape  fixed - Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. Updated tape uploaded with DTI 33.27% - Seller-07/14/2023

Ready for Review-Document Uploaded. updated tape uploaded. - Seller-07/14/2023

Ready for Review-income is $[redacted] . DTI calculations are ([redacted]=13.673%. Tape has accurate DTI - Seller-07/13/2023

Resolved-updated tape received. - Due Diligence Vendor-07/14/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1049130

XXXXXXX-2023-NQM4-384

Closed

FCRE8611

2023-07-12 07:10

2023-07-14 10:24

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-updated income per lender and used standard 50% expense ratio - Due Diligence Vendor-07/14/2023

Ready for Review-Please use 50% expense ratio. The income would be slightly less at [redacted] and DTI 46% instead of 41% .Borrower is still qualifying. - Seller-07/14/2023

Counter-cannot use this work sheet. These deposits do not match any bank statements in file for any of the months. The worksheet on page 402 matches all the deposits for each month provided in the file. Page 402 is the correct work sheet. Refer to that worksheet to recalculate income. if you want to use a 50% exp ratio, your income needs to be revised to [redacted]/ mo. Please update accordingly. - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. N/a. Please see the uploaded income WS 50% was used. Borrower qualified income is $[redacted] -this is 50% .Calculation[redacted]=[redacted].CPA letter is not required. - Seller-07/13/2023

Open-need accountant letter to verify expense ratio for business is 43.97 since the standard 50% was not used. per income worksheet expense ratio applied is 43.97 but nothing in file to verify- per guideline Business Expense Letter: • An expense letter specifying business industry and expenses as a percent of the gross annual sales/revenue, prepared and signed by either a CPA or tax preparer or enrolled tax agent. - Due Diligence Vendor-07/12/2023

Ready for Review-Please use 50% expense ratio. The income would be slightly less at $12,511.19 and DTI 46% instead of 41% .Borrower is still qualifying. - Seller-07/14/2023

Ready for Review-Document Uploaded. N/a. Please see the uploaded income WS 50% was used. Borrower qualified income is [redacted] -this is 50% .Calculations [redacted]. CPA letter is not required. - Seller-07/13/2023

Resolved-updated income per lender and used standard 50% expense ratio - Due Diligence Vendor-07/14/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1049137

XXXXXXX-2023-NQM4-385

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-386

Closed

FCRE9991

2023-07-17 15:51

2023-08-02 09:34

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-updated DTI now present - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Please find updated Tape, 1008 and Approval Letter attached - Seller-08/01/2023

Open-DTI should be 31.34% Please fix tape. Subject PITIA is $[redacted] plus other properties $[redacted] plus credit report debts $674 + O/O [redacted]= [redacted] = 31.34. lender counted the old payment on subject of $[redacted]and the new payment in DTI and it should only be new payment - Due Diligence Vendor-07/17/2023

Ready for Review-Document Uploaded. Please find updated Tape, 1008 and Approval Letter attached - Seller-08/01/2023

Resolved-updated DTI now present - Due Diligence Vendor-08/02/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1057744

XXXXXXX-2023-NQM4-387

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-388

Closed

FCRE1501

2023-07-12 20:57

2023-08-01 09:37

Waived

2 - Non-Material

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Waived-Approved exception form required for the following: borrower is short in reserves
- Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Please see Exception form in attachment - Seller-07/31/2023

Open-Total Qualified Assets for Reserves Post-Close of $11386.59 is less than Total Required Reserve Amount of $11792.58 Verified assets $126,030.70, cash to close $114,644.11, 3 mos reserves required equal to $11,792.58 leaving Borrower short $405.98 meeting reserve requirement - Due Diligence Vendor-07/13/2023

Ready for Review-Document Uploaded. Please see Exception form in attachment - Seller-07/31/2023

Waived-Approved exception form required for the following: borrower is short in reserves
- Due Diligence Vendor-08/01/2023

Compensating Factors
DSCR=> 1.3 , LTV 10% below maximum, Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No
mortgage late payments in last 24 months

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1050982

XXXXXXX-2023-NQM4-389

Closed

FCRE8279

2023-07-19 11:14

2023-07-20 14:46

Waived

2 - Non-Material

Credit

Missing Doc

Missing evidence tax return extension was filed.

Waived-Exception Type : - Material: Income
Short Description :- Allow Corp 1099 2021 1099 2022 2022 1099 Not filed No Extension available No Transcripts
Comments :- Allow Corp 1099 2021 1099 2022 2022 1099 Not filed, No Extension available No Transcripts available
Exception form: pg.#164 of 166 - Due Diligence Vendor-07/19/2023

No credit events past 48 months, 5+ years credit history, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1061184

XXXXXXX-2023-NQM4-389

Closed

FCRE6911

2023-07-19 11:07

2023-07-20 13:50

Waived

2 - Non-Material

Credit

Eligibility

DTI exceeds program maximum

Waived-Exception Type :- Material: DTI
Short Description :- Max DTI is 50% Client is 55.255
Comments:- Currently DTI is 55.2[redacted] Max allowed is 50% Need Exception for DTI at 55.225 and LTV at [redacted].
Exception form available on page no 160 of 166 - Due Diligence Vendor-07/19/2023

5 years on current job, 10 years or more in same line of employment, No mortgage late payments in last 24 months, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1061176

XXXXXXX-2023-NQM4-389

Closed

FCRE8611

2023-07-19 11:05

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Exception Type :- Non-Material: Income
Short Description :- Borrower is the same line of business for the less 15 years, but changed the employer last year and can't
provide the 1099's for the same employer.
Comments :- Need exception for 1099 Program to use the 1099's from 3 different employers int he last 2 years, but the in the
same line of business for the last 15 years. Borrower is the same line of business for the less 15 years, but changed the employer last year and can't provide the 1099's for the same employer for the last 2 years.
Exception form available on page no 158 of 166 - Due Diligence Vendor-07/19/2023

10 years or more in same line of employment, No credit events past 48 months, No mortgage late payments in last 24 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1061172

XXXXXXX-2023-NQM4-389

Closed

FVAL1563

2023-07-19 11:02

Waived

2 - Non-Material

Property

Appraisal

Unsupported adjustments or comps

Waived-Exception Type :- Material: Appraisal
Short Description :- Comparable sale #7 exceeds the maximum net adjustment of 15% for new construction guidelines.
Comments :- Approved exception form required for the following: Comparable sale #7 exceeds the maximum net adjustment
of 15% for new construction guidelines
Exception form available on page no 157 of 166 - Due Diligence Vendor-07/19/2023

Revolving debt is under 30%, 10 years or more in same line of employment, No mortgage late payments in last 24 months, No
consumer late payments in last 48 months, Credit score >40 points than minimum required

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1061164

XXXXXXX-2023-NQM4-389

Closed

FCRE1194

2023-07-19 10:59

2023-07-19 11:00

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception Type :- Material: LTV
Short Description :- New Construction max ltv [redacted] need [redacted]LTV
Comments :- Need Exception for new construction home purchase at [redacted]LTV. Max allowed for o/o is [redacted].
Exception form available on page no 156 of 166 - Due Diligence Vendor-07/19/2023

5 years on current job, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1061150

XXXXXXX-2023-NQM4-390

Closed

FCRE1200

2023-07-18 12:22

2023-07-19 11:45

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception Type
Material: Appraisal, Loan Amount
Short Description
Rural/Manufactured home under $100k loan amount

Exception form page # 143 of 144 - Due Diligence Vendor-07/18/2023

Experienced investor with 2+ investment properties, Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1059641

XXXXXXX-2023-NQM4-391

Closed

FCRE5802

2023-07-18 14:32

Waived

2 - Non-Material

Credit

Eligibility

Cash reserves less than required by guidelines

Waived-Lender granted exception for cash out for reserves. ***there are enough assets in the file to cover the reserves***

see page 291 (duplicate page 292) - Due Diligence Vendor-07/18/2023

5 years on current job, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1059945

XXXXXXX-2023-NQM4-392

Closed

FCRE9580

2023-07-12 16:03

Waived

2 - Non-Material

Credit

Eligibility

Bankruptcy History does not meet guidelines

Waived-Document Uploaded. Chapter 13 BK discharged 8/2021. 22 months - just shy of 24 mos -- approved with conditions to +0.25 to Price, DSCR>1 required - Due Diligence Vendor-07/12/2023

Borrower contribution exceeds requirement >=5%, Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals)

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1050803

XXXXXXX-2023-NQM4-393

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-394

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-395

Closed

FCOM1227

2023-07-19 03:05

2023-07-26 10:43

Resolved

1 - Information

Compliance

Missing Doc

PUD Rider is Missing

Resolved-Revised title commitment shows property not a PUD - Due Diligence Vendor-07/26/2023

Ready for Review-Document Uploaded. Please see updated title commitment. - Seller-07/26/2023

Counter-disagree. see your title commitment. Legal-[redacted] a planned unit development, according to the official plat thereof in file and of
record in the [redacted]County Recorder's Office. Recorded covenants on title -Restated Declaration of Restrictive Covenants for [redacted] a PUD, was recorded on, [redacted] as Entry [redacted] in [redacted] at Page 4564 of official records, upon the terms and conditions therein provided. - Due Diligence Vendor-07/21/2023

Ready for Review-per appraisal it is not a PUD - Seller-07/20/2023

Open-title and legal show this is a PUD, rider missing - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Please see updated title commitment. - Seller-07/26/2023

Ready for Review-per appraisal it is not a PUD - Seller-07/20/2023

Resolved-Revised title commitment shows property not a PUD - Due Diligence Vendor-07/26/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1060416

XXXXXXX-2023-NQM4-395

Closed

FCRE1151

2023-07-19 02:54

2023-07-25 10:35

Resolved

1 - Information

Credit

Title

Satisfactory Chain of Title not Provided

Resolved-Warranty Deed shows ownership change, Title policy to reflect correct borrower - Due Diligence Vendor-07/25/2023

Ready for Review-Please refer to Warranty Deed(page 598 of initial credit package delivered to you for review).  - Seller-07/24/2023

Counter-disagree.  Borrower cannot refinance a property they dont own and we do not have proof they own the LLC in title.  valid finding.  - Due Diligence Vendor-07/21/2023

Ready for Review-There is no such requirement in guide lines. File is DSCR-refinance investment property  - Seller-07/20/2023

Open-Unsatisfactory Chain of Title provided missing proof borrower owns [redacted](current owner of property on title) - Due Diligence Vendor-07/19/2023

Ready for Review-Please refer to Warranty Deed(page 598 of initial credit package delivered to you for review). - Seller-07/24/2023

Ready for Review-There is no such requirement in guide lines. File is DSCR-refinance investment property - Seller-07/20/2023

Resolved-Warranty Deed shows ownership change, Title policy to reflect correct borrower - Due Diligence Vendor-07/25/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1060405

XXXXXXX-2023-NQM4-396

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-397

Closed

FCRE9991

2023-07-18 15:36

2023-07-21 11:56

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-correct tape recvd - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Please review uploaded updated tape, system is rounding it to .90 - Seller-07/20/2023

Open-Data Tape DSCR .77 Audited DSCR .90 PITI and proposed rent match the 1008. Rents are $5375/ $5974.14 PITIA - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Please review uploaded updated tape, system is rounding it to .90 - Seller-07/20/2023

Resolved-correct tape recvd - Due Diligence Vendor-07/21/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1060031

XXXXXXX-2023-NQM4-398

Closed

FCRE9806

2023-07-18 17:41

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Lender granted exception for single entity over 20%

See page 152 - Due Diligence Vendor-07/18/2023

Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1060098

XXXXXXX-2023-NQM4-398

Closed

FVAL5472

2023-07-18 17:40

Waived

2 - Non-Material

Property

Property or house size is outside of guidelines

Waived-Lender granted exception for less than 500 square feet

See page 151 - Due Diligence Vendor-07/18/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1060097

XXXXXXX-2023-NQM4-399

Closed

FCRE1194

2023-07-18 09:12

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] LTV increased to [redacted] after updated LA - Due Diligence Vendor-07/18/2023

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] LTV increased to[redacted] after updated LA - Due Diligence Vendor-07/18/2023

Several income sources and DTI below 45%, Revolving debt is under 30%, Residual income >=$3000, No credit events past 48
months, No mortgage late payments in last 24 months
page 145

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1059066

XXXXXXX-2023-NQM4-399

Closed

FCRE6696

2023-07-18 08:56

Waived

2 - Non-Material

Credit

Income/Employment

Employment Self-Employed Less Than 2 Years at Origination

Waived-Borrower doesn't have history of business for 2 years. As per Guideline, the
borrower’s business used for qualifying purposes must have been in existence for at least two years. The
borrower also must own the business for at least two years in case of the change of ownership. The borrower's
business exists from [redacted] only - Due Diligence Vendor-07/18/2023

DTI >=10% lower than loan program, No credit events past 48 months, 5+ years credit history, Borrower contribution exceeds
requirement >=5
page 144

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1058985

XXXXXXX-2023-NQM4-399

Closed

FCRE1437

2023-07-18 08:47

Waived

2 - Non-Material

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Waived-Income and Employment Do Not Meet Guidelines The borrower cannot wait for 12 months bank statements. The loan needs to be closed as soon as
possible. Asking to waive the conditions requiring June 2023 statement for [redacted] and June 2023
statement for [redacted]. Hence, asking to calculate the income from 11MBS - Due Diligence Vendor-07/18/2023

Waived-Income and Employment Do Not Meet Guidelines The borrower cannot wait for 12 months bank statements. The loan needs to be closed as soon as
possible. Asking to waive the conditions requiring June 2023 statement for [redacted] [redacted] and June 2023
statement for [redacted] [redacted]. Hence, asking to calculate the income from 11MBS - Due Diligence Vendor-07/18/2023

DTI >=10% lower than loan program, No credit events past 48 months, 5+
page 143

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1058956

XXXXXXX-2023-NQM4-400

Closed

FCRE9991

2023-07-19 05:40

2023-07-21 12:05

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-tape updated - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. See attached - Seller-07/20/2023

Open-DSCR is .87 using $2100 est rent or .79 using actual rent of $1900. PITIA is [redacted] Tape has .82. Please fix tape to .79 or .87 - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. See attached - Seller-07/20/2023

Resolved-tape updated - Due Diligence Vendor-07/21/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1060570

XXXXXXX-2023-NQM4-400

Closed

FVAL9739

2023-07-19 04:53

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-appraisal effective date 4/01/23
Comments Hi Team, need an exception on using an appraisal which is more than 60 days old at the submission. (apprx.
75 days). AVM more than supports the value - Due Diligence Vendor-07/19/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1060510

XXXXXXX-2023-NQM4-401

Closed

FCRE1194

2023-07-19 05:38

2023-07-24 11:01

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception granted: LTV of [redacted] exceeds guidelines per property recently being deeded to our borrower - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/24/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] borrower added to title 4/11/2023. Max LTV for quit claim is [redacted] (page 631 title) - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/24/2023

Waived-Exception granted: LTV of [redacted] exceeds guidelines per property recently being deeded to our borrower - Due Diligence Vendor-07/24/2023

DSCR=> 1.3 , No mortgage late payments in last 24 months, No consumer late payments in last 48 months

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

1060568

XXXXXXX-2023-NQM4-401

Closed

FVAL9739

2023-07-19 05:39

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-appraisal effective date 4/03/23
Transferred appraisal is a bit older than 60 days (apprx. 75). Super clean file, borrower is experienced
investor with more than 10+ properties. AVM supports the value - Due Diligence Vendor-07/19/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1060569

XXXXXXX-2023-NQM4-402

Closed

FCRE9806

2023-07-19 09:45

2023-07-20 12:45

Resolved

1 - Information

Credit

Eligibility

Other Credit Finding

Resolved-received loan approval  - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. File is conditionally approved, please see attached  - Seller-07/19/2023

Open-Please provide payment information for[redacted] loan[redacted] for[redacted].  - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. File is conditionally approved, please see attached - Seller-07/19/2023

Resolved-received loan approval - Due Diligence Vendor-07/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1061003

XXXXXXX-2023-NQM4-402

Closed

FCRE1492

2023-07-19 09:38

Waived

2 - Non-Material

Credit

Assets

Cash Out Does Not Meet Guideline Requirements

Waived-Lender granted exception to use current appraised value on Cash out Refi

See page 367 ***there is a second exception page 372 to use current appraised value on R/T Refi - loan is a cash out*** - Due Diligence Vendor-07/19/2023

Residual income >=$3000, DTI >=10% lower than loan program, No credit events past 48 months, 5+ years credit history

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1060984

XXXXXXX-2023-NQM4-403

Closed

FCRE1437

2023-07-18 11:15

Waived

2 - Non-Material

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Waived-Income and Employment Do Not Meet Guidelines Page 338 - Exception to use Alimony income with less than 6 month history and 3+ years of continuance. Recent court decision in file page 144 - order likely to be extended. - Due Diligence Vendor-07/18/2023

No credit events past 48 months, No mortgage late payments last 24 months, 5+ years credit history, No consumer lates last 48 months, Credit Score > 40 points above program minimum.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1059430

XXXXXXX-2023-NQM4-404

Closed

FVAL5524

2023-07-19 06:40

2023-08-01 07:36

Resolved

1 - Information

Property

Ineligible Property

Resolved-Document Uploaded. proof listing cancelled 10/2022 now present. - Due Diligence Vendor-08/01/2023

Open-appraisal says listed 9/2022 but nothing says when listing cancelled - guidelines say must be off market 6 months before application - Due Diligence Vendor-07/19/2023

Resolved-Document Uploaded. proof listing cancelled 10/2022 now present. - Due Diligence Vendor-08/01/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1060630

XXXXXXX-2023-NQM4-404

Closed

FCRE1259

2023-07-19 06:39

2023-07-24 11:03

Resolved

1 - Information

Credit

Missing Doc

Collateral Underwriter Partially Provided

Resolved-Received dated avm - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Date of AVM is reflecting on the first page of AVM, please see page 1 of "[redacted]_Closing docs part 1". AVM report date is 26-JUN-2023. Please see only AVM in attachment. - Seller-07/21/2023

Open-missing date - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Date of AVM is reflecting on the first page of AVM, please see page 1 of "[redacted]_Closing docs part 1". AVM report date is 26-JUN-2023. Please see only AVM in attachment. - Seller-07/21/2023

Resolved-Received dated avm - Due Diligence Vendor-07/24/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1060629

XXXXXXX-2023-NQM4-404

Closed

FCRE7009

2023-07-19 06:34

Waived

2 - Non-Material

Credit

Insurance

Hazard insurance dwelling coverage is not sufficient

Waived-replacement cost is higher than Building coverage.
Comments "replacement cost is higher than Building coverage.We require, Replacement cost should be less or equal to
Building coverage." The insurance Co will not update replacement cost - Due Diligence Vendor-07/19/2023

LTV 10% below maximum, No mortgage late payments in last 24 months, Other: specify below
Borrower owns 3 properties
page 383

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1060620

XXXXXXX-2023-NQM4-404

Closed

FCRE1491

2023-07-19 06:33

Waived

2 - Non-Material

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Waived-Asset Qualification Does Not Meet Guideline Requirements cash out for reserves - Due Diligence Vendor-07/19/2023

Experienced investor with 2+ investment properties, LTV 10% below maximum, No mortgage late payments in last 24 months
page 384

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1060618

XXXXXXX-2023-NQM4-405

Closed

FCRE1198

2023-07-19 10:50

2023-07-20 12:49

Waived

2 - Non-Material

Credit

Eligibility

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

Waived-Audited Reserves of month(s) are less than Guideline Required Reserves of 3 month(s) Exception Type Non-Material: Assets
Short Description : Cash out proceeds for reserves

Exception form page # 377 of 402 - Due Diligence Vendor-07/19/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1061130

XXXXXXX-2023-NQM4-406

Closed

FCOM1252

2023-07-12 16:55

2023-07-18 08:57

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Loan Estimate

Resolved-received proof of delivery - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Please review uploaded print out from [redacted] - Seller-07/17/2023

Open-Provide evidence that Revised Loan Estimate issues on 07/03/2023 was sent electronically
- Due Diligence Vendor-07/12/2023

Ready for Review-Document Uploaded. Please review uploaded print out from [redacted] - Seller-07/17/2023

Resolved-received proof of delivery - Due Diligence Vendor-07/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1050894

XXXXXXX-2023-NQM4-406

Closed

FCRE6843

2023-07-12 14:13

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception on page 869

Using cash out from another property for reserves

Approved as is - Due Diligence Vendor-07/12/2023

5 years on current job, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1050539

XXXXXXX-2023-NQM4-407

Closed

FCRE6696

2023-07-17 10:27

Waived

2 - Non-Material

Credit

Income/Employment

Employment Self-Employed Less Than 2 Years at Origination

Waived-Exception on page 650

add second business for qualification, 1.6 yrs in existence

Approved with conditions of 0.125 to the rate CUW Value review required. - Due Diligence Vendor-07/17/2023

Revolving debt is under 30%, No credit events past 48 months, 5+ years credit history, Credit score >40 points than minimum
required, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1056977

XXXXXXX-2023-NQM4-408

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-409

Closed

FCOM8003

2023-07-14 10:37

2023-07-26 10:44

Resolved

1 - Information

Compliance

TRID

Final CD: Date Issued does not match actual date delivered

Resolved-Received fix CD - Due Diligence Vendor-07/26/2023

Ready for Review-Document Uploaded. See attached - Seller-07/25/2023

Counter-please provide a PCCD to show date was corrected. - Due Diligence Vendor-07/19/2023

Ready for Review-This appears to be a dating error by the borrower as the rest of the entire closing package is dated 07/11 - please advise what you need to cure? Would we need borrower to correct the final CD that was signed and initialed? - Seller-07/18/2023

Open-Final CD issue date is 07/11/2023 however delivery date is 7/1/2023 - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. See attached - Seller-07/25/2023

Ready for Review-This appears to be a dating error by the borrower as the rest of the entire closing package is dated 07/11 - please advise what you need to cure? Would we need borrower to correct the final CD that was signed and initialed? - Seller-07/18/2023

Resolved-Received fix CD - Due Diligence Vendor-07/26/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1054850

XXXXXXX-2023-NQM4-410

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-411

Closed

FCRE5802

2023-07-19 11:59

Waived

2 - Non-Material

Credit

Eligibility

Cash reserves less than required by guidelines

Waived-Lender granted exception for cash out used for reserves.

See page 34 - Due Diligence Vendor-07/19/2023

5 years on current job, Residual income >=$3000, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1061281

XXXXXXX-2023-NQM4-412

Closed

FVAL9739

2023-07-19 12:46

2023-08-01 09:51

Resolved

1 - Information

Property

Appraisal

Property/Appraisal General

Resolved-zillow shows listing removed prior to app date - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Please find response from our Collateral UW attached - Seller-08/01/2023

Open-subject was listed for sale at time of application. Borrower does state they took off market but guidelines say cannot be listed at time of application - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Please find response from our Collateral UW attached - Seller-08/01/2023

Resolved-zillow shows listing removed prior to app date - Due Diligence Vendor-08/01/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

1061388

XXXXXXX-2023-NQM4-412

Closed

FCRE9806

2023-07-19 12:47

2023-08-01 09:47

Resolved

1 - Information

Credit

Eligibility

Other Credit Finding

Resolved-received doc to show [redacted] as owner - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Please find attached - Seller-08/01/2023

Open-title vested and bank accounts show [redacted] as owner- need proof borrower own this LLC - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Please find attached - Seller-08/01/2023

Resolved-received doc to show [redacted]as owner - Due Diligence Vendor-08/01/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

1061392

XXXXXXX-2023-NQM4-412

Closed

FCRE8728

2023-07-19 12:45

2023-07-20 15:35

Waived

2 - Non-Material

Credit

Missing Doc

Missing Payment History

Waived- - Due Diligence Vendor-07/20/2023

Open-No Mortgage History past 2/1/23
Comments Borrower's subject property mortgage is a balloon. 2/1/23 was the expiration of the balloon and borrower is
unable to make payments on the loan. Purpose of loan is to refinance rate and term. Borrower has tried to
make payments but payments have been returned since 2/1/23. Loan is current until balloon date of 2/1/23.
page 40 - Due Diligence Vendor-07/20/2023

LTV 10% below maximum, Revolving debt is under 30%, 5+ years credit history, Credit score >40 points than minimum required,
Reserves>6 months (ineligible for Foreign Nationals)
page 40/162

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1061382

XXXXXXX-2023-NQM4-413

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-414

Closed

FCOM1221

2023-07-19 13:56

2023-08-09 08:44

Resolved

1 - Information

Compliance

Missing Doc

The Deed of Trust is Incomplete

Resolved-legible copy now present. - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Legible document provided - Seller-08/08/2023

Open-The Deed of Trust is Incomplete Deed of Trust Document Page# 37,40 to 53 is illegible , please provide legible document. - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Legible document provided - Seller-08/08/2023

Resolved-legible copy now present. - Due Diligence Vendor-08/09/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1061558

XXXXXXX-2023-NQM4-414

Closed

FCOM4227

2023-07-19 14:47

2023-07-25 10:37

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-Received final disclosure - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Final CD provided - Seller-07/24/2023

Open-Final Closing Disclosure date 07/12/2023, Page# 23,24 is illegible , please provide legible wet sign document. - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Final CD provided - Seller-07/24/2023

Resolved-Received final disclosure - Due Diligence Vendor-07/25/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1061681

XXXXXXX-2023-NQM4-414

Closed

FCOM1208

2023-07-19 13:52

2023-07-24 11:12

Resolved

1 - Information

Compliance

Missing Doc

The Note is Incomplete

Resolved-Received Note - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Legible Note provided - Seller-07/21/2023

Open-The Note is Incomplete Note Document Page#32 & 33 is illegible , please provide legible document. - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Legible Note provided - Seller-07/21/2023

Resolved-Received Note - Due Diligence Vendor-07/24/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1061548

XXXXXXX-2023-NQM4-414

Closed

FCRE8611

2023-07-20 10:30

2023-07-24 11:11

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-Received cpa letter - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. CPA letter confirming 14 years of employment provided - Seller-07/21/2023

Open-please provide a full 2 year employment history - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. CPA letter confirming 14 years of employment provided - Seller-07/21/2023

Resolved-Received cpa letter - Due Diligence Vendor-07/24/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1062870

XXXXXXX-2023-NQM4-415

Closed

FVAL9739

2023-07-15 13:05

2023-07-15 13:08

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Document Uploaded. Exception (pg 474 credit) requested for New Construction Appraisal does not have 2 closed sale comps from outside the subject project. Approved as is, no conditions. - Due Diligence Vendor-07/15/2023

Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months, Credit score >40 points than minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1055724

XXXXXXX-2023-NQM4-416

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-417

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-418

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-419

Closed

FCOM1797

2023-07-19 15:12

2023-07-24 11:13

Resolved

1 - Information

Compliance

Missing Doc

Missing Service Provider List

Resolved-Received - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Oh, I thought it was there. Please see attached - Seller-07/24/2023

Counter-we do not have an initial disclosure PDF and the one on page 71 of 467 is blank. we cannot accept a snip of the disclosure as it does not show the date prepared. This is a compliance issue and cannot clear with out the full doc uploaded. - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Service provider list is on disclosure, it is on p.14 of the initial disclosure - Seller-07/21/2023

Open-Service providers name missing on provided service provider list - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Oh, I thought it was there. Please see attached - Seller-07/24/2023

Ready for Review-Document Uploaded. Service provider list is on disclosure, it is on p.14 of the initial disclosure - Seller-07/21/2023

Resolved-Received - Due Diligence Vendor-07/24/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1061728

XXXXXXX-2023-NQM4-419

Closed

FCRE9991

2023-07-20 11:48

2023-07-21 12:25

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-DTI now matches. Lender provided a break down to show a special assessment was included in their system. - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. PITIA is [redacted], not[redacted]. So, [redacted]+[redacted] (reo+credit report) /[redacted]=24.686% of DTI - Seller-07/21/2023

Open-fix DTI to reflect 21.88. PITIA [redacted] REO debt + $4708 credit report = [redacted]- Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. PITIA is $[redacted], not [redacted]So, [redacted]8 (reo+credit report) [redacted]=24.686% of DTI - Seller-07/21/2023

Resolved-DTI now matches. Lender provided a break down to show a special assessment was included in their system. - Due Diligence Vendor-07/21/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1063043

XXXXXXX-2023-NQM4-419

Closed

FCRE1174

2023-07-19 13:04

Waived

2 - Non-Material

Credit

Missing Doc

Master Condo Insurance Policy is Partial

Waived-Exception on page 188

HO6 deductible 6% as per insurance company. 5% is max as per [redacted].

Approved with conditions of 0.125 to the rate - Due Diligence Vendor-07/19/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1061428

XXXXXXX-2023-NQM4-420

Closed

FCOM1159

2023-07-20 12:01

2023-07-28 14:51

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-Received proof of elec signature - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/26/2023

Open-Provide evidence that Revised Loan Estimate issues on 07/03/2023 was sent electronically
- Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/26/2023

Resolved-Received proof of elec signature - Due Diligence Vendor-07/28/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1063093

XXXXXXX-2023-NQM4-420

Closed

FVAL9739

2023-07-20 11:30

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :- Non-Material: Appraisal
Short Description :- The transferred appraisal effective date may not be more than 60 days old at the time of submission.
Comments :- Exception is required. The transferred appraisal effective date may not be more than 60 days old at the time of
submission.
Exception form available on page no 248 of 501 - Due Diligence Vendor-07/20/2023

10 years or more in same line of employment, No consumer late payments in last 48 months, Credit score >40 points than minimum
required

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1062999

XXXXXXX-2023-NQM4-421

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-422

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-423

Closed

FVAL9739

2023-07-20 06:40

2023-07-25 10:38

Resolved

1 - Information

Property

Appraisal

Property/Appraisal General

Resolved-New appraisal shows correct owner - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Please review uploaded revised appraisal report - Seller-07/24/2023

Open-appraisal shows borrower as current owner and this is a purchase - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please review uploaded revised appraisal report - Seller-07/24/2023

Resolved-New appraisal shows correct owner - Due Diligence Vendor-07/25/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1062353

XXXXXXX-2023-NQM4-424

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-425

Closed

FVAL9739

2023-07-20 09:05

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-repairs are required for subject property - please allow to make the repairs post-close as this is a purchase transactions
Comments some minor repairs are needed. The original owner has passed away and right now the property is being sold by his relatives, thus they will not make any repairs - Due Diligence Vendor-07/20/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1062670

XXXXXXX-2023-NQM4-426

Closed

FCRE9387

2023-07-21 07:58

Waived

2 - Non-Material

Credit

Eligibility

Loan amount exceeds maximum allowed per program guidelines

Waived-Lender granted exception for loan amount

See page 1082 - Due Diligence Vendor-07/21/2023

5 years on current job, Residual income >=$3000, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, Borrower contribution exceeds requirement >=5%, appraised value much higher when purchase price

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1064341

XXXXXXX-2023-NQM4-427

Closed

FCOM1797

2023-07-19 08:02

2023-08-01 09:53

Resolved

1 - Information

Compliance

Missing Doc

Missing Service Provider List

Resolved-WSP list received. - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Please find attached - Seller-08/01/2023

Open-Service Providers name missing on service provider list - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Please find attached - Seller-08/01/2023

Resolved-WSP list received. - Due Diligence Vendor-08/01/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

No Cash Out - Borrower Initiated

N/A

1060747

XXXXXXX-2023-NQM4-428

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-429

Closed

FCRE1491

2023-07-20 05:28

Waived

2 - Non-Material

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Waived-Asset Qualification Does Not Meet Guideline Requirements [redacted] LTV using 10% gift
Comments This is an [redacted] LTV loan looking to proceed using a 10% gift. Low DTI 24%, 10+ years same profession, no
credit events - Due Diligence Vendor-07/20/2023

[redacted] LTV using 10% gift
Comments This is an [redacted] LTV loan looking to proceed using a 10% gift. Low DTI 24%, 10+ years same profession, no
credit events
page 456

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1062292

XXXXXXX-2023-NQM4-430

Closed

FCRE1158

2023-07-21 06:21

2023-07-25 10:39

Resolved

1 - Information

Credit

Missing Doc

Hazard Insurance Policy is Partial

Resolved-Received insurance policy - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Correct Hazard Insurance Policy provided - Seller-07/24/2023

Open-Hazard Insurance Policy Partially Provided no policy number - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Correct Hazard Insurance Policy provided - Seller-07/24/2023

Resolved-Received insurance policy - Due Diligence Vendor-07/25/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1064153

XXXXXXX-2023-NQM4-431

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-432

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-433

Closed

FCOM9970

2023-07-14 15:39

2023-07-18 13:18

Resolved

1 - Information

Compliance

Missing Doc

Missing Compliance Documentation Unable to Test Compliance

Resolved-completed - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. initial disclosure package uploaded. - Seller-07/17/2023

Open-Missing final TIL and/or other documentation necessary to run Compliance Testing. Service provider list is missing hence not run compliance. - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. initial disclosure package uploaded. - Seller-07/17/2023

Resolved-completed - Due Diligence Vendor-07/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1055340

XXXXXXX-2023-NQM4-433

Closed

FCOM4028

2023-07-14 12:42

2023-07-18 09:57

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-07/18/2023

Ready for Review-Recorded Mortgage will be provided upon the receipt(once [redacted] purchase the file from corr. lender, only then recorded mtg. will be provided).Please clear the finding. - Seller-07/17/2023

Open-Missing evidence of Mortgage recording - Due Diligence Vendor-07/14/2023

Ready for Review-Recorded Mortgage will be provided upon the receipt(once [redacted] purchase the file from corr. lender, only then recorded mtg. will be provided).Please clear the finding. - Seller-07/17/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1055091

XXXXXXX-2023-NQM4-433

Closed

FCOM1231

2023-07-14 13:22

2023-07-18 09:07

Resolved

1 - Information

Compliance

Missing Doc

The Initial 1003 is Missing

Resolved-The Initial 1003 is Present or Not Applicable (The 1003 Page Occupancy status is 'Investment'). - Due Diligence Vendor-07/18/2023

Resolved-received - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Please review uploaded initial disclosure package(refer to page 1-10 of uploaded document for initial 1003).Thank you. - Seller-07/17/2023

Open-The Initial 1003 is Missing and the 1003 Page Occupancy Status is 'Primary Residence'. missing initial 1003 - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. Please review uploaded initial disclosure package(refer to page 1-10 of uploaded document for initial 1003).Thank you. - Seller-07/17/2023

Resolved-The Initial 1003 is Present or Not Applicable (The 1003 Page Occupancy status is 'Investment'). - Due Diligence Vendor-07/18/2023

Resolved-received - Due Diligence Vendor-07/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1055156

XXXXXXX-2023-NQM4-433

Closed

FCOM1797

2023-07-14 15:37

2023-07-18 09:05

Resolved

1 - Information

Compliance

Missing Doc

Missing Service Provider List

Resolved-received WSP - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Please refer to page 11 of uploaded initial disclosure package. - Seller-07/17/2023

Open- - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. Please refer to page 11 of uploaded initial disclosure package. - Seller-07/17/2023

Resolved-received WSP - Due Diligence Vendor-07/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1055339

XXXXXXX-2023-NQM4-433

Closed

FCOM1266

2023-07-14 13:27

2023-07-18 08:59

Resolved

1 - Information

Compliance

Missing Doc

Homeownership Counseling Disclosure Is Missing

Resolved-Homeownership Counseling Disclosure Is Present or Not Applicable - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Please refer to page 35-40 of uploaded initial disclosure package 07/17 - Seller-07/17/2023

Open-Homeownership Counseling Disclosure Is Missing - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. Please refer to page 35-40 of uploaded initial disclosure package 07/17 - Seller-07/17/2023

Resolved-Homeownership Counseling Disclosure Is Present or Not Applicable - Due Diligence Vendor-07/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1055168

XXXXXXX-2023-NQM4-433

Closed

FCRE8611

2023-07-14 14:33

2023-07-18 08:59

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-received proof that borrower owns [redacted] - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Please review uploaded documents 07/17(CPA letter and articles of Organization) - Seller-07/17/2023

Open-need proof that borrower own [redacted] (this is account holder on [redacted]) - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. Please review uploaded documents 07/17(CPA letter and articles of Organization) - Seller-07/17/2023

Resolved-received proof that borrower owns [redacted]- Due Diligence Vendor-07/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1055271

XXXXXXX-2023-NQM4-433

Closed

FCRE6843

2023-07-14 14:34

2023-07-18 08:58

Resolved

1 - Information

Credit

Assets

Asset General

Resolved- - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Please review uploaded copy of check sent to title. - Seller-07/17/2023

Open-need wire from donor to title for $25k - Due Diligence Vendor-07/14/2023

Ready for Review-Document Uploaded. Please review uploaded copy of check sent to title. - Seller-07/17/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1055273

XXXXXXX-2023-NQM4-433

Closed

FCRE1317

2023-07-14 14:35

Waived

2 - Non-Material

Credit

Income/Employment

Borrower 1 Total Years Employment Verified is Less Than 24 Months

Waived-Borrower owns business for less than 2 years (18 months) - Due Diligence Vendor-07/14/2023

Several income sources and DTI below 45%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+
years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Borrower
contribution exceeds requirement >=5%
page 340

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1055274

XXXXXXX-2023-NQM4-434

Closed

FCRE1193

2023-07-18 09:54

2023-08-14 10:18

Waived

2 - Non-Material

Credit

Eligibility

Audited DTI Exceeds Guideline DTI

Waived-Approve DTI of 67%. residual income does not meet the minimum.
- Due Diligence Vendor-08/14/2023

Ready for Review-Document Uploaded. Please find attached - Seller-08/11/2023

Counter- Waiver does not address the residual income not meeting.  please add - Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. Please find Exception form attached - Seller-08/09/2023

Open-Audited DTI of 66.9% exceeds Guideline DTI of [redacted] Before adding Child Support Payment, DTI matched originator.  After factoring in child support payments, no longer in guideline range.
Originator did not apply child support on 1008.  DTI is 66.90 with the $633.60/mo child support payment borrower disclosed on final 1003.  NOTE BECAUSE of the added child support, residual income no longer meets minimum.  Please address - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Please find attached - Seller-08/11/2023

Ready for Review-Document Uploaded. Please find Exception form attached - Seller-08/09/2023

Waived-Approve DTI of 67%. residual income does not meet the minimum.
- Due Diligence Vendor-08/14/2023

No credit events past 48 months, 5+ years credit history, Borrower contribution exceeds requirement >=5%
High Credit Score, No credit late payments 12 mo

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

1059239

XXXXXXX-2023-NQM4-435

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-436

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-437

Closed

FCRE6737

2023-07-18 09:01

2023-08-01 13:14

Resolved

1 - Information

Credit

Missing Doc

Missing Letter of Explanation (Income)

Resolved-Document Uploaded. lender is comfortable with Barber shop continuance in [redacted] - Due Diligence Vendor-08/01/2023

Counter-CPA letter does not address the borrower purchasing an O/O home in [redacted] when he currently works and is licensed in [redacted] - Due Diligence Vendor-08/01/2023

Ready for Review-CPA Letter Ownership of the Business can be found on page 124 ([redacted] 1) - Seller-08/01/2023

Open-Bwr is [redacted] state barber with business incorporation there but is purchasing owner occ in [redacted]- No LOE in file about business disruption or plan to operate in another state. - Due Diligence Vendor-07/18/2023

Ready for Review-CPA Letter Ownership of the Business can be found on page 124 [redacted] - Seller-08/01/2023

Resolved-Document Uploaded. lender is comfortable with Barber shop continuance in [redacted] - Due Diligence Vendor-08/01/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1059010

XXXXXXX-2023-NQM4-437

Closed

FCOM1797

2023-07-18 13:28

2023-07-31 14:57

Resolved

1 - Information

Compliance

Missing Doc

Missing Service Provider List

Resolved-Received updated servicer provider list - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Please find attached - Seller-07/31/2023

Open-Service Providers name missing on service provider list - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Please find attached - Seller-07/31/2023

Resolved-Received updated servicer provider list - Due Diligence Vendor-07/31/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1059813

XXXXXXX-2023-NQM4-438

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-439

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-440

Closed

FCRE1194

2023-07-20 15:03

2023-08-15 09:07

Resolved

1 - Information

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Resolved-waiver criteria updated to[redacted] - Due Diligence Vendor-08/15/2023

Ready for Review-Document Uploaded. Please see updated Exception form in attachment - Seller-08/15/2023

Open-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] - exception page 753 states "max [redacted] LTV or loan amount $[redacted] whichever is less" - [redacted] LTV is lower as the loan amount would be $[redacted] - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please see updated Exception form in attachment - Seller-08/15/2023

Resolved-waiver criteria updated to [redacted]% - Due Diligence Vendor-08/15/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1063523

XXXXXXX-2023-NQM4-440

Closed

FCRE9806

2023-07-20 15:08

2023-08-02 09:54

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Allow property with 3 of the 6 units are below 500 square feet
- Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Please see exception form in attachment - Seller-08/01/2023

Open-3 of the 6 units are below 500 square feet at 434, 421 and 283. - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please see exception form in attachment - Seller-08/01/2023

Waived-Allow property with 3 of the 6 units are below 500 square feet
- Due Diligence Vendor-08/02/2023

Compensating Factors
DSCR=> 1.3 , 2+ borrowers on the loan, No mortgage late payments in last

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1063531

XXXXXXX-2023-NQM4-440

Closed

FCRE1197

2023-07-20 15:03

2023-07-20 15:04

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 675 is less than Guideline FICO of 680 Lender granted exception for FICO

See page 753 - Due Diligence Vendor-07/20/2023

DSCR=> 1.3 , 2+ borrowers on the loan, No mortgage late payments in last 24 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1063521

XXXXXXX-2023-NQM4-441

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-442

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-443

Closed

FCRE1199

2023-07-20 11:48

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is greater than Guideline Maximum Loan Amount

Waived-Audited Loan Amount of $[redacted] is greater than the Guideline Maximum Loan Amount of $[redacted] Exception to [redacted] page 784. - Due Diligence Vendor-07/20/2023

Waived-Audited Loan Amount of $[redacted] is greater than the Guideline Maximum Loan Amount of $[redacted] Exception to 3.5mm page 784. - Due Diligence Vendor-07/20/2023

Revolving debt under 30%, No mortgage lates last 24 months, 5+ years credit history, No consumer lates last 48 months, Credit score > 40 points above program minimum, Reserves > 6 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1063044

XXXXXXX-2023-NQM4-444

Closed

FCRE1194

2023-07-21 11:28

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-LTV: Looking for [redacted] with under .75 dscr
Comment:-Looking to get an exception for borrower to keep LTV at [redacted] with .624 DSCR. We had this appraisal over a week and signed off on but when they were looking to send the file to QC this came up at the last minute and no one saw this. The borrower does not want to do the loan now at [redacted] and would rather walk. Good overall borrower.
Exception Form: pg.#701 of 741
- Due Diligence Vendor-07/21/2023

Borrower contribution exceeds requirement >=5%, No credit events past 48 months, Reserves>6 months (ineligible for Foreign
Nationals)

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1064823

XXXXXXX-2023-NQM4-445

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-446

Closed

FCOM4028

2023-07-15 08:20

2023-07-19 13:59

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-07/19/2023

Resolved-Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-07/19/2023

Ready for Review-n/a. File was recently closed 07/13/23. Recorded mortgage is not available yet - Seller-07/18/2023

Open-Missing evidence of Mortgage recording - Due Diligence Vendor-07/15/2023

Ready for Review-n/a. File was recently closed 07/13/23. Recorded mortgage is not available yet - Seller-07/18/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1055630

XXXXXXX-2023-NQM4-446

Closed

FVAL4036

2023-07-15 09:16

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Property purchased by Corporation on 12/2022 with intentions to Flip. AVM supports value. Exception page 857. - Due Diligence Vendor-07/15/2023

Residual income > $3,000, DTI > 10% below program maximum, No credit events past 48 months, No mortgage lates last 24 months, No consumer lates last 48 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1055652

XXXXXXX-2023-NQM4-446

Closed

FCRE1437

2023-07-15 08:52

Waived

2 - Non-Material

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Waived-Income and Employment Do Not Meet Guidelines Business existence is 1.25 years. Two years required. Exception page 860 - Due Diligence Vendor-07/15/2023

No credit events past 48 months, No mortgage lates last 24 months, 5+ years credit history.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1055639

XXXXXXX-2023-NQM4-447

Closed

FCRE1501

2023-07-16 03:38

2023-08-10 08:50

Waived

2 - Non-Material

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Waived-Borrower is short on assets to cover 3 months reserves. Funds available cover only 2.5 months
- Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. Please review uploaded exception - Seller-08/09/2023

Counter-Finding is valid. Borrower had to bring $28894.63 to close. Plus 3 months reserves of $8122.89= Total need to be verified $37017.52. Borrower only had $35694 verified - Due Diligence Vendor-07/19/2023

Ready for Review-Invalid finding. Cash to close was $28,894.63. Borrower's own funds were $35,649.96 [redacted]_6910 -this covers 3 months reserves requirements. - Seller-07/18/2023

Open-Total Qualified Assets for Reserves Post-Close of $6755.33 is less than Total Required Reserve Amount of $8122.89 File is short .51 months PITI reserves , or $1,367.56, due to more closing costs than reflected on 1008. Currently there are 2.51 months PITI reserves. - Due Diligence Vendor-07/16/2023

Ready for Review-Document Uploaded. Please review uploaded exception - Seller-08/09/2023

Ready for Review-Invalid finding. Cash to close was $28,894.63. Borrower's own funds were $35,649.96 [redacted]_6910 -this covers 3 months reserves requirements. - Seller-07/18/2023

Waived-Borrower is short on assets to cover 3 months reserves. Funds available cover only 2.5 months
- Due Diligence Vendor-08/10/2023

Compensating Factors
5 years on current job, DTI >=10% lower than loan program, 10 years or more in same line of employment

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1055806

XXXXXXX-2023-NQM4-447

Closed

FCRE1493

2023-07-16 03:20

2023-08-04 08:00

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-Borrower doesn't meet trade line requirements doesn't have 3 trade lines
Comments
- Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded. Exception uploaded - Seller-08/03/2023

Counter-[redacted]- 2 months reported, [redacted]- 7 months,[redacted]- 23 months,[redacted]- 13 months,  [redacted]- 8 months, [redacted] 7 months,[redacted] 3 months.    See page 661
Only usable trades for the guideline count are [redacted] and B of America.  we are one short.  - Due Diligence Vendor-07/21/2023

Ready for Review-Please refer to credit report 3 tradelines in the past 12 months were presented:[redacted]- Seller-07/20/2023

Counter-disagree.  None of borrower trade lines are open 24 month, and only 2 have 12 months reported.  Finding is valid. - Due Diligence Vendor-07/19/2023

Ready for Review-per matrix we need 3 for past >=12 months OR 2 for past >=24 months, active in the last 12 months. Borrower meets 3 for past >=12 months. - Seller-07/18/2023

Open-Insufficient trade lines for super [redacted]- Bwr has two active accounts rated for more than 12 months, lacks a third rated trade for 12 months and no account is greater than 24 months old. - Due Diligence Vendor-07/16/2023

Ready for Review-Document Uploaded. Exception uploaded - Seller-08/03/2023

Ready for Review-Please refer to credit report 3 tradelines in the past 12 months were presented[redacted]- Seller-07/20/2023

Ready for Review-per matrix we need 3 for past >=12 months OR 2 for past >=24 months, active in the last 12 months. Borrower meets 3 for past >=12 months. - Seller-07/18/2023

Waived-Borrower doesn't meet trade line requirements doesn't have 3 trade lines
Comments
- Due Diligence Vendor-08/04/2023

Compensating Factors
5 years on current job, DTI >=10% lower than loan program, 10 years or more in same line of employment
First time home buyer

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1055802

XXXXXXX-2023-NQM4-448

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-449

Closed

FCRE3653

2023-07-21 14:33

2023-07-28 14:54

Resolved

1 - Information

Credit

Missing Doc

Missing letter of explanation

Resolved-Lender explanation sufficient to clear finding - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Here is the explanation form our sr UW: The borrower was originally going to purchase a second property. However, that purchase was cancelled. This transaction from Page 3 of the 1003 should have been removed, our apologies (see screenshot) - Seller-07/26/2023

Open-Final 1003 : declaration point D (1) is checked Yes (refer pg.#71 of 145). New Mortgage loan on another property applied.
Note : On 1003 REO 1 Mortgage with [redacted] [redacted] is declared on [redacted]*and this is not reported on Credit nor any VOM .
Please confirm if this is a new mortgage and is related to the 1003 point D(1). - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Here is the explanation form our sr UW: The borrower was originally going to purchase a second property. However, that purchase was cancelled. This transaction from Page 3 of the 1003 should have been removed, our apologies (see screenshot) - Seller-07/26/2023

Resolved-Lender explanation sufficient to clear finding - Due Diligence Vendor-07/28/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1065343

XXXXXXX-2023-NQM4-449

Closed

FCRE1212

2023-07-21 14:15

2023-07-28 14:53

Resolved

1 - Information

Credit

Missing Doc

Purchase Contract is Partial

Resolved-Received fully executed purchase agreement - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Seller did not accept the original offer, attached you will find the fully executed counter offer. - Seller-07/27/2023

Open-Purchase contract has not been fully provided Purchase contract page no 14 of 14 is not signed by seller (refer page # 129 of 539) - Due Diligence Vendor-07/21/2023

Ready for Review-Document Uploaded. Seller did not accept the original offer, attached you will find the fully executed counter offer. - Seller-07/27/2023

Resolved-Received fully executed purchase agreement - Due Diligence Vendor-07/28/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1065298

XXXXXXX-2023-NQM4-449

Closed

FVAL9739

2023-07-21 11:20

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :-  Material: Assets
Short Description :-  Clear Collateral Condition
Comments:  Good day exceptions committee. I am running multiple requests in one as per the condition on this file. They are as follow: Exceptions are required:1. Degree of Development and Growth Rate: Properties designated as "rural" to be considered on a case-by-case basis. 2. Maximum Acceptable Acreage – 5 acres 3. All comparable sales must be located within 4 miles of subject 4. At least 1 closed comparable sales must be located within 1 mile of subject. 5. At least 2 closed comparable sales must be located within the same neighborhood as the subject. Requesting that new construction, rural property, over 5 acres, appraiser unable to provide comp sales within new construction guidelines be waived or accepted. Thank you for your consideration.
Exception form available on page no 154 of 539 - Due Diligence Vendor-07/21/2023

Experienced investor with 2+ investment properties, Residual income >=$3000, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1064788

XXXXXXX-2023-NQM4-450

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-451

Closed

FCOM4227

2023-07-19 17:05

2023-07-24 11:22

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-Received proof of delivery - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/21/2023

Open-Provide evidence that Revised Closing Disclosure issues on 07/07/2023 was sent electronically - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/21/2023

Resolved-Received proof of delivery - Due Diligence Vendor-07/24/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1061857

XXXXXXX-2023-NQM4-452

Closed

FCOM1797

2023-07-19 11:45

2023-07-25 10:39

Resolved

1 - Information

Compliance

Missing Doc

Missing Service Provider List

Resolved-Received Service provider list - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. We have this list full in Integra, I can't say why this page is empty when I downloaded the docs to you. Apologies, see attached. - Seller-07/24/2023

Open-Service Providers name missing on service provider list - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. We have this list full in Integra, I can't say why this page is empty when I downloaded the docs to you. Apologies, see attached. - Seller-07/24/2023

Resolved-Received Service provider list - Due Diligence Vendor-07/25/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

No Cash Out - Borrower Initiated

N/A

1061240

XXXXXXX-2023-NQM4-453

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-454

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-455

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-456

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-457

Closed

FCRE1501

2023-07-21 16:19

2023-07-31 07:50

Resolved

1 - Information

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Resolved-Total Qualified Assets for Reserves Post-Close of [redacted] is equal to or greater than Total Required Reserve Amount of $17033.16 - Due Diligence Vendor-07/31/2023

Resolved-Total Qualified Assets for Reserves Post-Close of[redacted]is equal to or greater than Total Required Reserve Amount of $17033.16 - Due Diligence Vendor-07/31/2023

Resolved-Total Qualified Assets for Reserves Post-Close of[redacted]is equal to or greater than Total Required Reserve Amount of $17033.16 - Due Diligence Vendor-07/28/2023

Resolved-Gift letters clears the finding. - Due Diligence Vendor-07/28/2023

Ready for Review-Please, find the Gift letters merged with complete credit pkg, pp.101-102. Per these letters, the borrower was supposed to receive $139,000. Per email confirmation from Title (pp.191-192), the amount of $139,000 was received at closing (CTC+Reserves). Per Final CD (pp.197-202), the funds in the amount of 19,083.41 were transferred to the borrower. We use it as confirmation that the borrower received Gift funds and consider the excess amount as reserves. Thank you! - Seller-07/27/2023

Open-Total Qualified Assets for Reserves Post-Close of $0 is less than Total Required Reserve Amount of $17033.16 Please provide assets for reserves.
Total Requirement $17,033.16(3*$5,677.71) ,Available $ 0, shortage is 17,033.16.
Note: Gift additional funds for $19,083.41 is showing in HUD only and no proof if return back. - Due Diligence Vendor-07/21/2023

Ready for Review-Please, find the Gift letters merged with complete credit pkg, pp.101-102. Per these letters, the borrower was supposed to receive $139,000. Per email confirmation from Title (pp.191-192), the amount of $139,000 was received at closing (CTC+Reserves). Per Final CD (pp.197-202), the funds in the amount of 19,083.41 were transferred to the borrower. We use it as confirmation that the borrower received Gift funds and consider the excess amount as reserves. Thank you! - Seller-07/27/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1065465

XXXXXXX-2023-NQM4-458

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-459

Closed

FCRE5770

2023-07-21 18:11

2023-08-17 10:50

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Credit Report is Missing

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-08/17/2023

Resolved-Received credit report - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Please, find attached the Credit report. Thank you! - Seller-07/27/2023

Open-Borrower 1 Credit Report is Missing. Please provide credit report - Due Diligence Vendor-07/22/2023

Ready for Review-Document Uploaded. Please, find attached the Credit report. Thank you! - Seller-07/27/2023

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-08/17/2023

Resolved-Received credit report - Due Diligence Vendor-07/28/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1065513

XXXXXXX-2023-NQM4-459

Closed

FCRE1316

2023-07-22 09:06

2023-07-31 07:39

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 3rd Party VOE Prior to Close Missing

Resolved-guidelines allow for most recent stub for VVOE. Located in file. - Due Diligence Vendor-07/31/2023

Counter-A written Verification of Employment may be utilized when primary source of earnings is wages/salary. - Due Diligence Vendor-07/28/2023

Ready for Review-Please, find the latest paystub merged with complete credit pkg (p.485). It was issued on 6/30/2023 - within 10 business days of the Note. Per the GL, the underwriter may obtain a year-to-date paystub from the pay period that immediately precedes the note date. Thank you! - Seller-07/27/2023

Open-VOE is missing in the file. - Due Diligence Vendor-07/22/2023

Ready for Review-Please, find the latest paystub merged with complete credit pkg (p.485). It was issued on 6/30/2023 - within 10 business days of the Note. Per the GL, the underwriter may obtain a year-to-date paystub from the pay period that immediately precedes the note date. Thank you! - Seller-07/27/2023

Resolved-guidelines allow for most recent stub for VVOE. Located in file. - Due Diligence Vendor-07/31/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1065748

XXXXXXX-2023-NQM4-459

Closed

FCOM5413

2023-07-22 09:43

2023-07-28 15:02

Resolved

1 - Information

Compliance

Missing Doc

Prepayment Penalty Information Unavailable

Resolved-Received acknowledgement - Due Diligence Vendor-07/28/2023

Ready for Review-confirm there is no prepayment penalty. Thank you! - Seller-07/27/2023

Open-Pls confirm if no prepayment in the AR state - Due Diligence Vendor-07/22/2023

Ready for Review-confirm there is no prepayment penalty. Thank you! - Seller-07/27/2023

Resolved-Received acknowledgement - Due Diligence Vendor-07/28/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1065756

XXXXXXX-2023-NQM4-459

Closed

FCRE1332

2023-07-21 18:09

2023-07-28 15:00

Resolved

1 - Information

Credit

Income/Employment

Borrower 1 Paystubs Less Than 1 Month Provided

Resolved-Received paystub - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Please, find attached. Thank you! - Seller-07/27/2023

Open-Borrower 1 Paystubs Less Than 1 Month Provided Borrower provided 1 Paystub which is bi-weekly, dated 06/18/2023 to 07/01/2023. (refer- pg.#485)
Note: Per guide we need 30 days paystub. Please provide one more Paystub. - Due Diligence Vendor-07/22/2023

Ready for Review-Document Uploaded. Please, find attached. Thank you! - Seller-07/27/2023

Resolved-Received paystub - Due Diligence Vendor-07/28/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1065512

XXXXXXX-2023-NQM4-459

Closed

FCRE1200

2023-07-21 19:30

2023-07-22 09:40

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception Type:- Material: Loan Amount
Short Description:- Loan Amount < $100,000
Ln Amt @ $[redacted] ([redacted] LTV)
Exception page#641
- Due Diligence Vendor-07/22/2023

Waived-Audited Loan Amount of [redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception Type:- Material: Loan Amount
Short Description:- Loan Amount < $100,000
Ln Amt @ [redacted] ([redacted] LTV)
Exception page#641
- Due Diligence Vendor-07/22/2023

Several income sources and DTI below 45%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1065539

XXXXXXX-2023-NQM4-460

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-461

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-462

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-463

Closed

FCRE9806

2023-07-23 15:56

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Lender granted exception: As per provided Note, loan is due on [redacted]. Need exception to pay it off in July '2023.

See page 452 - Due Diligence Vendor-07/23/2023

Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, 10 years or more in same line of employment, No credit events past 48 months, 5+ years credit history, LTV 10% below maximum, Credit score >40 points than minimum required, Reserves>6 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1065998

XXXXXXX-2023-NQM4-464

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-465

Closed

FCRE1194

2023-07-21 16:07

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Lender granted exception for LTV - New Construction Investor PUD at [redacted] LTV - Due Diligence Vendor-07/21/2023

Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months, No credit events past 48 months, No mortgage late payments in last 24 months, Borrower contribution exceeds requirement >=5%

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1065459

XXXXXXX-2023-NQM4-466

Closed

FCRE1254

2023-07-22 08:16

Waived

2 - Non-Material

Credit

Title

Property Title Issue

Waived-Property Title Issue Page 1032. Bwr added back to tile prior to close. Was not on title at application. Bwr bought property all cash and gave title to sons, now added back. QC deed page 999. - Due Diligence Vendor-07/22/2023

Experienced Investor 2+ properties, Revolving debt under 30%, 5 years current job, No credit events past 48 months, 5+ year credit history, No consumer lates last 48 months. Credit score > 40 points above program minimum.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1065734

XXXXXXX-2023-NQM4-467

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-468

Closed

FCRE1235

2023-07-21 16:57

2023-07-21 17:01

Waived

2 - Non-Material

Credit

Eligibility

Cashout not Allowed

Waived-Exception (pg 640) requesting to use cash out for reserves. Approved as is - Due Diligence Vendor-07/21/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1065482

XXXXXXX-2023-NQM4-469

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-470

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-471

Closed

FCRE6843

2023-07-22 16:53

2023-07-24 10:57

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception Type : Reserves
Short Description : Use CO as Reserves

Exception Form Page # 598 - Due Diligence Vendor-07/22/2023

DTI >=10% lower than loan program, No credit events past 48 months, No mortgage late payments in last 24 months, LOW LTV

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1065857

XXXXXXX-2023-NQM4-472

Closed

FCRE9806

2023-07-20 15:17

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Exception on page 988

COVID-19 RELATED LOAN MODIFICATION IN 2021 , NO LATES ON THE MORTGAGE EVER

Approved as is - Due Diligence Vendor-07/20/2023

Revolving debt is under 30%, 5 years on current job, 10 years or more in same line of employment, No mortgage late payments in
last 24 months, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1063546

XXXXXXX-2023-NQM4-473

Closed

FCOM4028

2023-07-21 18:25

2023-07-28 15:10

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-Loan closed in less than 60 days - Due Diligence Vendor-07/28/2023

Ready for Review-Please, rescind the finding. recorded mortgage will be provided upon receipt. Thank you! - Seller-07/27/2023

Open-Missing evidence of Mortgage recording - Due Diligence Vendor-07/22/2023

Ready for Review-Please, rescind the finding. recorded mortgage will be provided upon receipt. Thank you! - Seller-07/27/2023

Resolved-Loan closed in less than 60 days - Due Diligence Vendor-07/28/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1065516

XXXXXXX-2023-NQM4-473

Closed

FCRE6843

2023-07-21 19:24

2023-07-21 19:25

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Document Uploaded. Exception (pg 630) EMD $18550 not seasoned 60 days prior to withdrawal. Approved with conditions +1 in Price, max CLTV [redacted], min 6 mos reserves, min 3YPPP - Due Diligence Vendor-07/22/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1065537

XXXXXXX-2023-NQM4-474

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-475

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-476

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-477

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-478

Closed

FCOM1159

2023-07-18 15:30

2023-07-25 10:42

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-Received proof of elec delivery - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/24/2023

Open-Provide evidence that Revised Loan Estimate issues on 07/07/2023 was sent electronically
- Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/24/2023

Resolved-Received proof of elec delivery - Due Diligence Vendor-07/25/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1060024

XXXXXXX-2023-NQM4-478

Closed

FCOM4227

2023-07-18 15:31

2023-07-25 10:41

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-Received proof of elec delivery - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/24/2023

Open-For Initial CD provide evidence that Initial Closing Disclosure issues on 07/10/2023 was sent electronically - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-07/24/2023

Resolved-Received proof of elec delivery - Due Diligence Vendor-07/25/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1060030

XXXXXXX-2023-NQM4-478

Closed

FPRO116

2023-07-18 09:47

2023-07-25 10:40

Resolved

1 - Information

Property

Other Property/Value Finding

Resolved-Received updated appraisal - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. please see updated 1004D - Seller-07/24/2023

Open-Corrected value page to appraisal - Appraised value is listed as [redacted] in report but 442 in page 131 lists value as [redacted] - Lender did use lower value but the final values conflict. Pages 131 show[redacted]K and [redacted] reflect [redacted]. - Due Diligence Vendor-07/18/2023

Ready for Review-Document Uploaded. please see updated 1004D - Seller-07/24/2023

Resolved-Received updated appraisal - Due Diligence Vendor-07/25/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1059209

XXXXXXX-2023-NQM4-479

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-480

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-481

Closed

FCRE8611

2023-07-18 15:06

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Exception on page 739

Borrower's spouse is on bank statements as account holder. Spouse is a housewife and doesn't generate

Approved with conditions 60& LTV Max, Exclude wifes income. - Due Diligence Vendor-07/18/2023

DTI >=10% lower than loan program, 10 years or more in same line of employment, No mortgage late payments in last 24 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1059991

XXXXXXX-2023-NQM4-482

Closed

FCRE6843

2023-07-18 13:29

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception found page 687

6 NSFs, Credit and strong LOE attached.

Approved with conditions of +0.25 to the rate - Due Diligence Vendor-07/18/2023

Residual income >=$3000, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history,
Other: specify below
Borrower with over 5 years on current job and over 10 years in line of work

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1059815

XXXXXXX-2023-NQM4-482

Closed

FVAL9739

2023-07-18 13:28

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception on page 646

Just over the maximum size at 10.11 acres.

Approved as is - Due Diligence Vendor-07/18/2023

5 years on current job, Residual income >=$3000, 10 years or more in same line of employment, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1059811

XXXXXXX-2023-NQM4-483

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-484

Closed

FCRE5116

2023-07-19 03:52

2023-07-21 08:54

Resolved

1 - Information

Credit

Missing Doc

Missing VOM or VOR

Resolved-Document Uploaded. Received pay history and it is clear - Due Diligence Vendor-07/21/2023

Counter-this is still not a 12 month pay history. File does not contain a 12 month pay history - Due Diligence Vendor-07/20/2023

Ready for Review-If payment missed it wouldnt state next due date 07/01, it would state prior month or the month that was missed - Seller-07/19/2023

Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is Missing. need a payment history from [redacted], page 202 show next due but no payment history on it. - Due Diligence Vendor-07/19/2023

Ready for Review-If payment missed it wouldnt state next due date 07/01, it would state prior month or the month that was missed - Seller-07/19/2023

Resolved-Document Uploaded. Received pay history and it is clear - Due Diligence Vendor-07/21/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1060442

XXXXXXX-2023-NQM4-484

Closed

FCRE6843

2023-07-19 04:10

2023-07-20 12:49

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-received donor transfer - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. see attached - Seller-07/19/2023

Open-need proof donor gave 100k to title - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. see attached - Seller-07/19/2023

Resolved-received donor transfer - Due Diligence Vendor-07/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1060462

XXXXXXX-2023-NQM4-484

Closed

FCRE9806

2023-07-19 04:11

2023-07-20 12:46

Resolved

1 - Information

Credit

Eligibility

Other Credit Finding

Resolved-tax bill for borrowers proof of residency - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. tax bill for borrowers proof of residency - Seller-07/19/2023

Open-missing 3rd party proof of residence - guideilnes - 3rd party evidence of residence where the borrower lives with translation - Due Diligence Vendor-07/19/2023

Ready for Review-Document Uploaded. tax bill for borrowers proof of residency - Seller-07/19/2023

Resolved-tax bill for borrowers proof of residency - Due Diligence Vendor-07/20/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1060464

XXXXXXX-2023-NQM4-484

Closed

FCRE1194

2023-07-19 04:10

2023-07-19 07:01

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] LTV to [redacted] - Due Diligence Vendor-07/19/2023

2 borrowers on this loan. 2) Borrower owns a property in Jamaica & already owns an investment property in [redacted]. This
transaction will be his 2nd investment property in FL. 3) Borrower has perfect mortgage payment history on his mortgage for [redacted]. The WVOM has been provided to the UW team & they cleared the condition. 4) Borrowers have documented
sufficient funds for 12 months reserves.
page 685

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1060461

XXXXXXX-2023-NQM4-485

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-486

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-487

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-488

Closed

FCRE3091

2023-07-24 04:29

2023-08-09 08:46

Resolved

1 - Information

Credit

Insurance

Master Policy Expiration Date is Prior To the Transaction Date

Resolved-renewal policy now present. - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Please see the updated Master Policy - Seller-08/08/2023

Open-Master Policy Expiration Date of 07-06-2023 is Prior To the Transaction Date of 07-17-2023 No other policy located. Page 584 indicates an email with the "intent to renew" - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Please see the updated Master Policy - Seller-08/08/2023

Resolved-renewal policy now present. - Due Diligence Vendor-08/09/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

N/A

1066265

XXXXXXX-2023-NQM4-488

Closed

FCRE8611

2023-07-24 04:53

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Exception page 681 to allow more than 3 NSF's in last 12 months on bank stmt loan. - Due Diligence Vendor-07/24/2023

DTI > 10 % below program maximum, No credit events past 48 months, Bwr contribution exceeds 5%, 5+ yr credit history.

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

Originator Pre-Close

Yes

1066286

XXXXXXX-2023-NQM4-488

Closed

FCRE9806

2023-07-24 04:52

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Page 680 - 12 mo Bank statement loan to allow 3 months use of other account 9 out of 12 from single account. - Due Diligence Vendor-07/24/2023

DTI > 10 % below program maximum, No credit events past 48 months, Bwr contribution exceeds 5%.

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

Originator Pre-Close

Yes

1066284

XXXXXXX-2023-NQM4-489

Closed

FCRE1199

2023-07-24 14:24

2023-08-08 08:56

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is greater than Guideline Maximum Loan Amount

Waived- - Due Diligence Vendor-08/08/2023

Ready for Review-Exception: Super [redacted] program and keep at [redacted] LTV. - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. But we have an exception for it, please see attached, it allows to proceed with CLTV [redacted] (also should have been merged) - Seller-08/07/2023

Open-Audited Loan Amount of $[redacted] is greater than the Guideline Maximum Loan Amount of $[redacted] As per Guideline Maximum Loan Amount is $[redacted] for a [redacted] > PUD> Cash out> [redacted] LTV
Note: There is no exception form found for the same. - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. But we have an exception for it, please see attached, it allows to proceed with CLTV [redacted] (also should have been merged) - Seller-08/07/2023

Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan program, 5+ years credit history, Reserves>6
months
Low LTV [redacted], Low DTI 27%, 6 months reserves +

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Post-Close

Yes

1067381

XXXXXXX-2023-NQM4-489

Closed

FCOM5413

2023-07-24 14:39

2023-07-28 15:11

Resolved

1 - Information

Compliance

Missing Doc

Prepayment Penalty Information Unavailable

Resolved-No pre payment penalty - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. You can check it by yourself - lock confirmation p.87 [redacted] or CD p.1 of closing pkg - Seller-07/26/2023

Open-Please confirm if no prepayment in the [redacted] state. - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. You can check it by yourself - lock confirmation p.87 of [redacted] or CD p.1 of closing pkg - Seller-07/26/2023

Resolved-No pre payment penalty - Due Diligence Vendor-07/28/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1067424

XXXXXXX-2023-NQM4-489

Closed

FCRE1194

2023-07-24 14:57

2023-07-24 14:58

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception Type :- Material: Credit
Short Description :- Need to keep on Super [redacted] Program
Comments :- Borrower has a 30 day late with [redacted] in the last 12 months. Need exception to keep this on Super [redacted]
program and keep at [redacted] LTV. Cannot move to [redacted] or it will minimize LTV to [redacted]. Borrower has more than 6 months reserves. Thank you.
Exception form available pg page no 238 of 722
- Due Diligence Vendor-07/24/2023

Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan program, 5+ years credit history, Reserves>6 months Low LTV [redacted], Low DTI 27%, 6 months reserves +

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1067462

XXXXXXX-2023-NQM4-489

Closed

FCRE1441

2023-07-24 14:33

Waived

2 - Non-Material

Credit

Eligibility

Delinquent Credit History Does Not Meet Guideline Requirements

Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan program, 5+ years credit history, Reserves>6
months
Low LTV [redacted], Low DTI 27%, 6 months reserves +

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1067410

XXXXXXX-2023-NQM4-490

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-491

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-492

Closed

FCRE1174

2023-07-25 09:20

Waived

2 - Non-Material

Credit

Missing Doc

Master Condo Insurance Policy is Partial

Waived-Type: Title
Description: Master insurance policy does not provide coverage for Named storm peril. Named Storm is only for hurricane prone areas, and Colorado is not.
Comment:-Please approve as is. This is a QC condition holding us from CTC
Exception Form : pg.# 182 of 483 - Due Diligence Vendor-07/25/2023

5 years on current job, 5+ years credit history, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1068456

XXXXXXX-2023-NQM4-493

Closed

FCRE6843

2023-07-20 08:30

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception page 683

Hi team! The borrower transferred funds from business account to personal account. [redacted] transferred on 06/21 and [redacted] transferred on 06/26/2023. Instead of making direct transfer (Bank to Bank), Borrower has first cashed the check from the business account and then deposited money to personal account. Withdrawal date is after the deposit date, that is why [redacted] is asking for an exception. We have Copy of check, deposit slip, amounts and date of transfers are matching. Please, approve as-is. THANK YOU!

Approve with conditions LOE describing the same required (with timelines) - Due Diligence Vendor-07/20/2023

Waived-Exception page 683

Hi team! The borrower transferred funds from business account to personal account. [redacted] transferred on 06/21 and $[redacted]k transferred on 06/26/2023. Instead of making direct transfer (Bank to Bank), Borrower has first cashed the check from the business account and then deposited money to personal account. Withdrawal date is after the deposit date, that is why [redacted] is asking for an exception. We have Copy of check, deposit slip, amounts and date of transfers are matching. Please, approve as-is. THANK YOU!

Approve with conditions LOE describing the same required (with timelines) - Due Diligence Vendor-07/20/2023

DTI >=10% lower than loan program, No credit events past 48 months, 5+ years credit history, LTV 10% below maximum

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1062568

XXXXXXX-2023-NQM4-493

Closed

FCRE6696

2023-07-20 08:00

Waived

2 - Non-Material

Credit

Income/Employment

Employment Self-Employed Less Than 2 Years at Origination

Waived-Exception page 682

Business history for 2 years (from April 2022)
Hi! As per provided LOE, Borrower doesn't have history of business for 2 years. As per Guideline, the
borrower’s business used for qualifying purposes must have been in existence for at least two years. The borrower also must own the business for at least two years in case of the change of ownership. A change in structure is allowed with proper documentation. Please, advise. Thank you!

Approved with conditions of +0.375 to the rate - Due Diligence Vendor-07/20/2023

DTI >=10% lower than loan program, No credit events past 48 months, 5+ years credit history, LTV 10% below maximum

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1062482

XXXXXXX-2023-NQM4-494

Closed

FCOM1159

2023-07-20 14:59

2023-07-28 15:14

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-Received proof of elec delivery - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Please, find the evidence attached. Thank you! - Seller-07/27/2023

Open-Provide evidence that Revised Loan Estimate issues on 07/11/2023 was sent electronically
- Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please, find the evidence attached. Thank you! - Seller-07/27/2023

Resolved-Received proof of elec delivery - Due Diligence Vendor-07/28/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1063512

XXXXXXX-2023-NQM4-495

Closed

FCOM1159

2023-07-24 14:18

2023-07-28 15:16

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-Received proof of elec delivery - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Please see evidence that Revised Loan Estimate issued on 07/11/2023 was sent electronically in attachment - Seller-07/26/2023

Open-provide evidence that Revised Loan Estimate issued on 07/11/2022 was sent electronically - Due Diligence Vendor-07/24/2023

Ready for Review-Document Uploaded. Please see evidence that Revised Loan Estimate issued on 07/11/2023 was sent electronically in attachment - Seller-07/26/2023

Resolved-Received proof of elec delivery - Due Diligence Vendor-07/28/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1067367

XXXXXXX-2023-NQM4-496

Closed

FCRE8079

2023-07-25 15:59

2023-08-18 08:36

Resolved

1 - Information

Credit

Closing

Power of Attorney Incomplete - Missing Notary

Resolved-POA executed now present. - Due Diligence Vendor-08/18/2023

Ready for Review-Document Uploaded. Please see Power of attorney in attachment - Seller-08/17/2023

Open-POA on page#239 of 280 is unexecuted. - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Please see Power of attorney in attachment - Seller-08/17/2023

Resolved-POA executed now present. - Due Diligence Vendor-08/18/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1069389

XXXXXXX-2023-NQM4-496

Closed

FCRE1174

2023-07-25 14:25

Waived

2 - Non-Material

Credit

Missing Doc

Master Condo Insurance Policy is Partial

Waived-Exception Type :- Material: Title
Short Description :- Master policy does not include wind/flood/building ordinance or law endorsement
Comments :- Master policy does not include wind/flood/building ordinance or law endorsement, but the borrower has obtained individual insurance policies including flood and HO6 with wind (attached). No mortgage lates or credit events, 2+ borrowers on loan, requesting to proceed please. Thank you
Exception form available on page no 280 of 280. - Due Diligence Vendor-07/25/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months, 2+
borrowers on the loan

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1069211

XXXXXXX-2023-NQM4-497

Closed

FCRE1197

2023-07-26 10:41

2023-07-26 10:42

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 645 is less than Guideline FICO of 680 Appraisal: Need exception on Rural and Acreage
Comments :- Looking for exception for rural property with a 645 score and the acreage at 10.1 acres. Per guides we need 680 score for rural and max of 10 acres. Good credit borrower all own funds, low DTI, and already equity in the home. - Due Diligence Vendor-07/26/2023

Residual income >=$3000, No credit events past 48 months, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1070759

XXXXXXX-2023-NQM4-497

Closed

FVAL5524

2023-07-26 10:16

Waived

2 - Non-Material

Property

Ineligible Property

Waived-Appraisal : Need exception on Rural and Acreage
Comments:- Looking for exception for rural property with a 645 score and the acreage at 10.1 acres. Per guides we need 680 score for rural and max of 10 acres. Good credit borrower all own funds, low DTI, and already equity in the home.
Exception Form -pg.#238 of 238
- Due Diligence Vendor-07/26/2023

Residual income >=$3000, No credit events past 48 months, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1070694

XXXXXXX-2023-NQM4-498

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-499

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-500

Closed

FCRE1200

2023-07-23 19:15

2023-07-23 19:19

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted]s less than the Guideline Minimum Loan Amount of $100000 Document Uploaded. Exception requested for loan amount less than minimum guidelines approved with conditions +0.5 in Price, DSCR>1 - Due Diligence Vendor-07/24/2023

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Document Uploaded. Exception requested for loan amount less than minimum guidelines approved with conditions +0.5 in Price, DSCR>1 - Due Diligence Vendor-07/24/2023

DSCR=> 1.3 , No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1066009

XXXXXXX-2023-NQM4-501

Closed

FVAL1310

2023-07-25 08:33

2023-07-31 15:14

Resolved

1 - Information

Property

Missing Doc

Missing HOA/Condo Certification

Resolved-Received HOA questionaire - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. see attached - Seller-07/28/2023

Open-Page 406 indicates FNMA approved and insurance is in file but missing actual HOA Questionnaire. - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. see attached - Seller-07/28/2023

Resolved-Received HOA questionaire - Due Diligence Vendor-07/31/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1068340

XXXXXXX-2023-NQM4-501

Closed

FCOM3605

2023-07-25 10:36

2023-07-31 15:13

Resolved

1 - Information

Compliance

TRID

TRID: CD not delivered at least 3 days prior to consummation

Resolved-Received elec sign - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. see attached - Seller-07/28/2023

Open-provide evidence that Revised Closing Disclosure issued on 07/12/2023 was signed electronically - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. see attached - Seller-07/28/2023

Resolved-Received elec sign - Due Diligence Vendor-07/31/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1068663

XXXXXXX-2023-NQM4-502

Closed

FCRE9991

2023-07-24 19:12

2023-07-28 15:18

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-Received updated data tape - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. see attached - Seller-07/27/2023

Open-DSCR calc varies from originator 1.084 where as calculated score 1.465 is supported by Appraisal 1007 (pg 17) rent in place $8724 and I/O, taxes, ins $5955.23. - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. see attached - Seller-07/27/2023

Resolved-Received updated data tape - Due Diligence Vendor-07/28/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1067660

XXXXXXX-2023-NQM4-502

Closed

FVAL9739

2023-07-24 19:16

2023-07-24 19:17

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Document Uploaded. Exception (page 891) requested on insurance policy where the hurricane deductible is 10% and our max is 5%. Approved with conditions to +0.25 to Price, [redacted] LTV max, DSCR>=1 - Due Diligence Vendor-07/25/2023

LTV 10% below maximum, No credit events past 48 months, Credit score >40 points than minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1067661

XXXXXXX-2023-NQM4-503

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-504

Closed

FCRE1198

2023-07-25 14:28

Waived

2 - Non-Material

Credit

Eligibility

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

Waived-Assets: reserves -Hi Team, need an exception to use CO proceeds to meet the reserve requirement

Exception Form is on pg.#480 of 500

- Due Diligence Vendor-07/25/2023

Revolving debt is under 30%, DTI >=10% lower than loan program, No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1069214

XXXXXXX-2023-NQM4-505

Closed

FCRE1325

2023-07-26 10:44

2023-08-18 08:39

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 CPA Letter Missing

Resolved-signed accountant letter now present. - Due Diligence Vendor-08/18/2023

Ready for Review-Document Uploaded. Hello! Please find attached! Thanks. - Seller-08/18/2023

Open-CPA letter provided in file on page no 591 is not signed. - Due Diligence Vendor-07/26/2023

Ready for Review-Document Uploaded. Hello! Please find attached! Thanks. - Seller-08/18/2023

Resolved-signed accountant letter now present. - Due Diligence Vendor-08/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

No Cash Out - Borrower Initiated

N/A

1070762

XXXXXXX-2023-NQM4-505

Closed

50001251

2023-07-26 11:36

2023-08-04 08:13

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-COC received. - Due Diligence Vendor-08/04/2023

Resolved-Resolved - Due Diligence Vendor-08/04/2023

Ready for Review-Please find attached COC. Thank you! - Seller-08/03/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). New Fee Points - Loan Discount Fee: added in final CD dated 7/11/2023 page no 149 $761.25. Need COC for the same. - Due Diligence Vendor-07/26/2023

Ready for Review-Please find attached COC. Thank you! - Seller-08/03/2023

Resolved-COC received. - Due Diligence Vendor-08/04/2023

Resolved-Resolved - Due Diligence Vendor-08/04/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

No Cash Out - Borrower Initiated

N/A

1070902

XXXXXXX-2023-NQM4-505

Closed

50001252

2023-07-26 11:36

2023-08-04 08:13

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-COC received. - Due Diligence Vendor-08/04/2023

Resolved-Resolved - Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded. Please find attached COC. Thank you! - Seller-08/03/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). New Fee Points - Loan Discount Fee: added in final CD dated 7/11/2023 page no 149 $761.25. Need COC for the same. - Due Diligence Vendor-07/26/2023

Ready for Review-Document Uploaded. Please find attached COC. Thank you! - Seller-08/03/2023

Resolved-COC received. - Due Diligence Vendor-08/04/2023

Resolved-Resolved - Due Diligence Vendor-08/04/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

No Cash Out - Borrower Initiated

N/A

1070903

XXXXXXX-2023-NQM4-505

Closed

FVAL9739

2023-07-26 10:42

2023-07-26 10:43

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :- Non-Material: Appraisal
Short Description :- Transferred appraisal was older than 60 days [redacted] at the time of submission [redacted].
Comments :- Approved exception form required for the following: TApproved exception form required for the following: Transferred appraisal was older than 60 days [redacted] at the time of submission [redacted]. If exception is not approved loan is ineligible.
Exception form available on page no 698 - Due Diligence Vendor-07/26/2023

Waived-Exception Type :- Non-Material: Appraisal
Short Description :- Transferred appraisal was older than 60 days [redacted] at the time of submission [redacted]).
Comments :- Approved exception form required for the following: TApproved exception form required for the following: Transferred appraisal was older than 60 days [redacted] at the time of submission [redacted]. If exception is not approved loan is ineligible.
Exception form available on page no 698 - Due Diligence Vendor-07/26/2023

No mortgage late payments in last 24 months, 5+ years credit history PITIA is less than current PITIA by $400

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1070760

XXXXXXX-2023-NQM4-506

Closed

FCOM5413

2023-07-25 16:12

2023-07-31 15:15

Resolved

1 - Information

Compliance

Missing Doc

Prepayment Penalty Information Unavailable

Resolved-Lock shows no pre payment penalty - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Confirmed by the final Lock Confirmation. Please see attached - Seller-07/27/2023

Open-Please confirm if no prepayment in the NY state - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Confirmed by the final Lock Confirmation. Please see attached - Seller-07/27/2023

Resolved-Lock shows no pre payment penalty - Due Diligence Vendor-07/31/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1069396

XXXXXXX-2023-NQM4-507

Closed

FCRE1501

2023-07-26 11:32

2023-08-04 08:20

Resolved

1 - Information

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Resolved-met guidelines at time of July which allows for cash out for reserves - Due Diligence Vendor-08/04/2023

Resolved-Total Qualified Assets for Reserves Post-Close of $47888.01 is equal to or greater than Total Required Reserve Amount of $6209.34 - Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded. Please see the UW's response - Seller-08/03/2023

Open-Total Qualified Assets for Reserves Post-Close of $19.57 is less than Total Required Reserve Amount of $6209.34 Please provide additional assets for reserves. Total Requirement $_6209.34 ([redacted] amount) , Available $ 19.57_, shortage is $[redacted] - Due Diligence Vendor-07/26/2023

Ready for Review-Document Uploaded. Please see the UW's response - Seller-08/03/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1070886

XXXXXXX-2023-NQM4-508

Closed

FPRO116

2023-07-21 09:09

2023-07-21 09:10

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Appraisal transferred over 60 days old with recert -Exception page 678 - Due Diligence Vendor-07/21/2023

Revolving debt < 30%, DTI > 10$ below program max, No credit events past 48 months, No mortgage late payments last 24 months, 5+ yrs credit history.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1064500

XXXXXXX-2023-NQM4-509

Closed

FCRE1491

2023-07-20 11:03

2023-07-25 10:47

Resolved

1 - Information

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Resolved-Received proof of gift - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Please see attached gift fund receipt from escrow confirming $40K and $129,970 wires. We lender credit $10 to borrower at closing. - Seller-07/24/2023

Open-Asset Qualification Does Not Meet Guideline Requirements need proof donors transferred gift of $180k total and proof title received (not on final CD) - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please see attached gift fund receipt from escrow confirming $40K and $129,970 wires. We lender credit $10 to borrower at closing. - Seller-07/24/2023

Resolved-Received proof of gift - Due Diligence Vendor-07/25/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1062928

XXXXXXX-2023-NQM4-510

Closed

FCRE9991

2023-07-31 12:07

2023-08-02 10:39

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-lender addressed program - Due Diligence Vendor-08/02/2023

Ready for Review-Loan was closed as 1YFULL. There is over 2 years income verified, but borrower didn’t request to change program. - Seller-08/01/2023

Open-correct program to 2Y full docs as we have over 2 yrs income verified. - Due Diligence Vendor-07/31/2023

Ready for Review-Loan was closed as 1YFULL. There is over 2 years income verified, but borrower didn’t request to change program. - Seller-08/01/2023

Resolved-lender addressed program - Due Diligence Vendor-08/02/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1079020

XXXXXXX-2023-NQM4-511

Closed

FCRE9802

2023-07-25 19:00

2023-08-01 10:25

Resolved

1 - Information

Credit

Eligibility

Borrower is First Time Homebuyer and Program Does Not Allow This

Resolved-lender has provided proof borrower LLC has owned real estate. - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Please see documents verifying that borrower is not a first-time homebuyer in attachment - Seller-08/01/2023

Open-Borrower cannot be first time homebuyer for this program DSCR program requires ownership of property within last 24 months - Due Diligence Vendor-07/26/2023

Ready for Review-Document Uploaded. Please see documents verifying that borrower is not a first-time homebuyer in attachment - Seller-08/01/2023

Resolved-lender has provided proof borrower LLC has owned real estate. - Due Diligence Vendor-08/01/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1069492

XXXXXXX-2023-NQM4-512

Closed

FCRE1166

2023-07-20 15:36

2023-07-26 10:48

Resolved

1 - Information

Credit

Insurance

Hazard Insurance Coverage is less than all Subject Lien(s)

Resolved-Received updated corrected insurance - Due Diligence Vendor-07/26/2023

Ready for Review-Document Uploaded. Please see the updated HOI with the replacement cost attached - Seller-07/26/2023

Open-Hazard Insurance Coverage Amount of $265000 is less than Total Amount of Subject Lien(s) of $343000.0 need replacement cost or cost estimator - Due Diligence Vendor-07/20/2023

Ready for Review-Document Uploaded. Please see the updated HOI with the replacement cost attached - Seller-07/26/2023

Resolved-Received updated corrected insurance - Due Diligence Vendor-07/26/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1063561

XXXXXXX-2023-NQM4-512

Closed

FVAL9739

2023-07-20 15:46

2023-07-20 15:47

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Comparable sales 6 and 7 exceed the maximum distance from the subject property for new construction
guidelines.
- Due Diligence Vendor-07/20/2023

Borrower contribution exceeds requirement >=5%, Revolving debt is under 30%, No consumer late payments in last 48 months
page 250

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1063571

XXXXXXX-2023-NQM4-513

Closed

FCRE1491

2023-07-27 07:14

2023-08-02 10:44

Resolved

1 - Information

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Resolved-corrected CD to show gift of $76700 - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Please see PCCD in attachment - Seller-08/01/2023

Open-Asset Qualification Does Not Meet Guideline Requirements Please corrected gift letter for $77000 one in file is for $76700.00 - Due Diligence Vendor-07/27/2023

Ready for Review-Document Uploaded. Please see PCCD in attachment - Seller-08/01/2023

Resolved-corrected CD to show gift of $76700 - Due Diligence Vendor-08/02/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1072709

XXXXXXX-2023-NQM4-513

Closed

FCRE1252

2023-07-27 06:50

2023-08-02 10:42

Resolved

1 - Information

Credit

Missing Doc

Title Document is Incomplete

Resolved-now present. - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Please see Preliminary title in attachment - Seller-08/01/2023

Open-Title Document is Incomplete Only supplemental page is in file, page 13, Missing original prelim. - Due Diligence Vendor-07/27/2023

Ready for Review-Document Uploaded. Please see Preliminary title in attachment - Seller-08/01/2023

Resolved-now present. - Due Diligence Vendor-08/02/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1072606

XXXXXXX-2023-NQM4-514

Closed

FCRE4805

2023-07-26 21:34

2023-07-26 21:35

Waived

2 - Non-Material

Credit

Eligibility

Trust/POA Does Not Meet Guideline Requirements

Waived-Document Uploaded. Exception (page 970) allow POA on a cash out Refi US [redacted]zen will be out of Country. Approved with conditions +0.25 to Price, [redacted] LTV max - Due Diligence Vendor-07/27/2023

Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1071854

XXXXXXX-2023-NQM4-515

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-516

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-517

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-518

Closed

FVAL9739

2023-07-27 12:52

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Document Uploaded. Exception (pg 402 credit) requested for 2-4 unit property in Rural with under 25% Build Up. Approved with conditions to +0.75 in Price (price as 2-4 unit + rural) DSCR>1.3 - Due Diligence Vendor-07/27/2023

DSCR=> 1.3 , Experienced investor with 2+ investment properties, No mortgage late payments in last 24 months, 5+ years credit history

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

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

Originator Pre-Close

Yes

1073941

XXXXXXX-2023-NQM4-519

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-520

Closed

FCOM4028

2023-07-21 08:50

2023-07-31 13:58

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-07/31/2023

Ready for Review-The mortgage was sent for recording and Final Title Policy will be provided upon receipt. Please resolve the finding - Seller-07/26/2023

Resolved-Missing evidence of Mortgage recording Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-07/21/2023

Ready for Review-The mortgage was sent for recording and Final Title Policy will be provided upon receipt. Please resolve the finding - Seller-07/26/2023

Resolved-Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-07/31/2023

Resolved-Missing evidence of Mortgage recording Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-07/21/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1064435

XXXXXXX-2023-NQM4-521

Closed

FCRE1193

2023-07-27 11:36

2023-07-27 14:42

Waived

2 - Non-Material

Credit

Eligibility

Audited DTI Exceeds Guideline DTI

Waived-Exception Type: Material: DTI
Short Description : Needs 52% DTI for O/O cash out

Exception form page: 948

- Due Diligence Vendor-07/27/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1073681

XXXXXXX-2023-NQM4-522

Closed

FCOM4227

2023-07-27 13:35

2023-08-09 08:51

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-received - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Apologies! - Seller-08/09/2023

Open-Final Closing disclosure is missing in file - Due Diligence Vendor-07/27/2023

Ready for Review-Document Uploaded. Apologies! - Seller-08/09/2023

Resolved-received - Due Diligence Vendor-08/09/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1074042

XXXXXXX-2023-NQM4-523

Closed

FPRO8999

2023-07-27 10:09

Waived

2 - Non-Material

Property

Non-Warrantable Condo not eligible property type

Waived-condo has minor litigation and over 20 % inv concentration
Comments See attached form, minor litigation and hoa owns more than 20 % of units. We have closed many of these condos
- Due Diligence Vendor-07/27/2023

No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Borrower contribution
exceeds requirement >=5%
page 1300

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1073386

XXXXXXX-2023-NQM4-524

Closed

FCRE8201

2023-07-27 10:33

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived-FTHB - no property ownership on DSCR program - Page 135 - Due Diligence Vendor-07/27/2023

Revolving debt under 30%, No consumer lates lat 48 months, Credit Score > 40 points above program minimum.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1073443

XXXXXXX-2023-NQM4-525

Closed

FCRE2515

2023-07-27 11:26

Waived

2 - Non-Material

Credit

Eligibility

Credit history does not meet guidelines

Waived-Exception found on page 113 closing package 2

Allow 4 NFS

Approved with conditions +0.25 to the rate [redacted] LTV max - Due Diligence Vendor-07/27/2023

No credit events past 48 months, No mortgage late payments in last 24 months, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1073659

XXXXXXX-2023-NQM4-526

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-527

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-528

Closed

FCRE1491

2023-07-27 16:47

2023-08-03 11:01

Resolved

1 - Information

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Resolved-$15k cleared and 4k wire was dated before statement. ok to assume it cleared as well. - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. Withdrawal proof provided - Seller-08/02/2023

Open-Asset Qualification Does Not Meet Guideline Requirements EMD $19,000, withdrawal proof is missing. (EMD: 2 Funds transferred - $15000 & $4,000)
Note : Per Guide : Provide wires along with evidence the funds have cleared the borrower's account. - Due Diligence Vendor-07/27/2023

Ready for Review-Document Uploaded. Withdrawal proof provided - Seller-08/02/2023

Resolved-$15k cleared and 4k wire was dated before statement. ok to assume it cleared as well. - Due Diligence Vendor-08/03/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1074384

XXXXXXX-2023-NQM4-529

Closed

FCRE1226

2023-07-28 08:45

2023-07-28 10:22

Waived

2 - Non-Material

Credit

Missing Doc

Appraisal document is incomplete or partial

Waived-Exception Type:-Material: Appraisal
Comment:. Project is not completed 100%. 2. Appraisal report only has 3 closed comparable sales
Exception Page no 131 of 1176 - Due Diligence Vendor-07/28/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Other: specify below Property's appraised value is $88K over the purchase Price

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1075811

XXXXXXX-2023-NQM4-530

Closed

FCOM1797

2023-07-28 08:52

2023-08-10 08:55

Resolved

1 - Information

Compliance

Missing Doc

Missing Service Provider List

Resolved-received WSP - Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-08/09/2023

Open-Service providers name missing on provided service provider list pg #18 - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-08/09/2023

Resolved-received WSP - Due Diligence Vendor-08/10/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1075828

XXXXXXX-2023-NQM4-530

Closed

FCRE1200

2023-07-28 07:14

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception page 444 for loan amount at [redacted] - Due Diligence Vendor-07/28/2023

DTI > 10% lower than program maximum, 10 yrs sameline of employment, No credit events past 48 months Reserves > 6 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1075460

XXXXXXX-2023-NQM4-531

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-532

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-533

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-534

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-535

Closed

FPRO1136

2023-07-27 19:40

2023-08-03 11:02

Resolved

1 - Information

Property

Appraisal

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

Resolved-1004d now present - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. Please see uploaded 1004 D - Seller-08/02/2023

Open-Primary Value Subject Property Appraisal is not on an As-Is Basis Subject property is new construction and inspection dtd [redacted] was subject to completion per plans and specs -- Form 1004D Appraisal Update/Completion Report not found in file - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Please see uploaded 1004 D - Seller-08/02/2023

Resolved-1004d now present - Due Diligence Vendor-08/03/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1074500

XXXXXXX-2023-NQM4-535

Closed

FCRE1194

2023-07-27 17:47

2023-07-27 20:07

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Document Uploaded. Exception (pg 905) allow new construction [redacted] Investor PUD at [redacted] LTV - Due Diligence Vendor-07/27/2023

10 years or more in same line of employment, No mortgage late payments in last 24 months. Borrower contribution exceeds requirement>=5%. Approved with conditions to +0.25 to Rate, CUW review required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1074421

XXXXXXX-2023-NQM4-535

Closed

FVAL9739

2023-07-27 17:50

2023-07-27 20:07

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Document Uploaded. Exception (pg 904) allow new construction comps over 4 miles and net adjustment exceeding 15%. Approved with conditions to +0.25 to Price - Due Diligence Vendor-07/27/2023

10 years or more in same line of employment, No credit events past 48 months, Borrower contribution exceeds requirement>=5%

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1074428

XXXXXXX-2023-NQM4-536

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-537

Closed

FVAL5524

2023-07-26 10:58

Waived

2 - Non-Material

Property

Ineligible Property

Waived-Lender granted exception for on of the 4 units being 458 sq feet.

See page 635 - Due Diligence Vendor-07/26/2023

DSCR => 1.3 , Borrower contribution exceeds requirement >=5%, No mortgage late payments in last 24 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1070795

XXXXXXX-2023-NQM4-538

Closed

FCRE5770

2023-07-28 16:02

2023-08-08 11:14

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Credit Report is Missing

Resolved-Received credit report - Due Diligence Vendor-08/08/2023

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. Apologies, we have it on the file, but looks like it wasn't merged successfully, please see attached. - Seller-08/07/2023

Open-Borrower 1 Credit Report is Missing. TRI Merged Credit Report is missing - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Apologies, we have it on the file, but looks like it wasn't merged successfully, please see attached. - Seller-08/07/2023

Resolved-Received credit report - Due Diligence Vendor-08/08/2023

Resolved-Borrower 1 Credit Report is not missing. - Due Diligence Vendor-08/08/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1076858

XXXXXXX-2023-NQM4-539

Closed

FCRE8611

2023-07-25 13:01

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Exception found on page 86

use of 2 different Bank statement see LOE from CPA

Approved with condition value review required - Due Diligence Vendor-07/25/2023

DTI >=10% lower than loan program, No credit events past 48 months, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1069021

XXXXXXX-2023-NQM4-539

Closed

FCRE1194

2023-07-25 12:59

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Exception on page 85

Need 660 but has 657 for [redacted]

Approved with conditions : +0.25 to the rate, min 6 months reserves required - Due Diligence Vendor-07/25/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months,
Borrower contribution exceeds requirement >=5%, Reserves>6 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1069017

XXXXXXX-2023-NQM4-540

Closed

FCRE9991

2023-08-01 13:49

2023-08-08 11:17

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-Updated DTI - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. UW confirmed the mistake. DTI has been corrected, please see updated docs, no reprice. - Seller-08/08/2023

Open-Correct DTI to show 39.43. DTI - Lender omitted Child support obligation of $1313 per month. This needs to be included as CS order in file - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. UW confirmed the mistake. DTI has been corrected, please see updated docs, no reprice. - Seller-08/08/2023

Resolved-Updated DTI - Due Diligence Vendor-08/08/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1081430

XXXXXXX-2023-NQM4-541

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-542

Closed

FCRE1493

2023-07-25 11:16

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-Exception on page 4

Borrower has two alternative tradelines over 12 months, requesting to use new guidelines to satisfy our tradeline requirement. Low DTI 30.46%, no lates or credit events. Thank you

Approved with conditions to proceed with Guidelines of 07.05 (2 tradelines with 24 months or 3 tradelines with 12 months) - Due Diligence Vendor-07/25/2023

DTI >=10% lower than loan program, No credit events past 48 months, No mortgage late payments in last 24 months, No consumer
late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1068726

XXXXXXX-2023-NQM4-543

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-544

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-545

Closed

FCRE1173

2023-07-25 12:08

2023-07-31 07:59

Resolved

1 - Information

Credit

Missing Doc

Master Condo Insurance Policy is Missing

Resolved-HO-6 Master Insurance Policy is fully present - Due Diligence Vendor-07/31/2023

Resolved-Received insurance - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/26/2023

Open-Missing Master Condo Insurance Policy - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Please see attached - Seller-07/26/2023

Resolved-HO-6 Master Insurance Policy is fully present - Due Diligence Vendor-07/31/2023

Resolved-Received insurance - Due Diligence Vendor-07/31/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1068864

XXXXXXX-2023-NQM4-545

Closed

FCOM4247

2023-07-25 11:58

2023-07-31 07:56

Resolved

1 - Information

Compliance

Missing Doc

Missing HUD-1 Closing Statement

Resolved-Received settlement statement for other property - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Final statement attached - Seller-07/26/2023

Open-Settlement statement for new primary at [redacted] -contract is on page 706. - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. Final statement attached - Seller-07/26/2023

Resolved-Received settlement statement for other property - Due Diligence Vendor-07/31/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1068830

XXXXXXX-2023-NQM4-546

Closed

50001251

2023-07-28 16:35

2023-08-03 12:22

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-COC provided. - Due Diligence Vendor-08/03/2023

Resolved-Resolved - Due Diligence Vendor-08/03/2023

Ready for Review-COC uploaded - Seller-08/02/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). Please provide COC for Loan Discount Fee, in the Revised CD dated 07/20/2023 Loan Discount Fee#337.50,( pg.# 463 of 1016) but have increase on Final CD - dated : 07/24/2023 Loan Discount Fee for $843.75 (Pg.# 224 of 1016) - Due Diligence Vendor-07/28/2023

Ready for Review-COC uploaded - Seller-08/02/2023

Resolved-COC provided. - Due Diligence Vendor-08/03/2023

Resolved-Resolved - Due Diligence Vendor-08/03/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1076876

XXXXXXX-2023-NQM4-546

Closed

50001252

2023-07-28 16:35

2023-08-03 12:22

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-COC provided. - Due Diligence Vendor-08/03/2023

Resolved-Resolved - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. Coc uploaded. - Seller-08/02/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). Please provide COC for Loan Discount Fee, in the Revised CD dated 07/20/2023 Loan Discount Fee#337.50,( pg.# 463 of 1016) but have increase on Final CD - dated : 07/24/2023 Loan Discount Fee for $843.75 (Pg.# 224 of 1016) - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Coc uploaded. - Seller-08/02/2023

Resolved-COC provided. - Due Diligence Vendor-08/03/2023

Resolved-Resolved - Due Diligence Vendor-08/03/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1076877

XXXXXXX-2023-NQM4-546

Closed

FCOM4227

2023-07-28 16:44

2023-08-03 12:15

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-Proof electronic delivery present - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. please see uploaded docs - Seller-08/02/2023

Open-1. Provide evidence that Revised Closing Disclosure issues on 07/19/2023 was sent electronically
2. Provide evidence that Revised Closing Disclosure issues on 07/20/2023 was sent electronically - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. please see uploaded docs - Seller-08/02/2023

Resolved-Proof electronic delivery present - Due Diligence Vendor-08/03/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1076882

XXXXXXX-2023-NQM4-546

Closed

FCRE1174

2023-07-28 17:12

Waived

2 - Non-Material

Credit

Missing Doc

Master Condo Insurance Policy is Partial

Waived-Exception Type:- Material: Appraisal
Short Description:-7.5% deductible, 5% max per our guide
master policy covers flood, they will not reduce to 5% for storm coverage
exception Page# 985 of 1016

- Due Diligence Vendor-07/28/2023

Several income sources and DTI below 45%, No credit events past 48 months, 5+ years credit history, LTV 10% below maximum,
Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1076894

XXXXXXX-2023-NQM4-546

Closed

FVAL9739

2023-07-28 17:09

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type:- Material: Appraisal
Short Description :- Single Entity own more than 20% of units in project,[redacted] owns 16 of 50 (32%)
SECOND EXCEPTION REQUESTED BY UW, AFTER REQUESTING PREVIOUS EXCEPTION WHICH WAS GRANTED, SEE ATTACHED, PLEASE DO NOT HIT RATE
Exception Page# 984 of 1016

- Due Diligence Vendor-07/28/2023

Several income sources and DTI below 45%, No credit events past 48 months, 5+ years credit history, LTV 10% below maximum,
Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1076889

XXXXXXX-2023-NQM4-547

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-548

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-549

Closed

FVAL4036

2023-07-25 15:26

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Exception on page 334

Seller bought the property in shortsale in[redacted]. Remoleded and lised for sale in [redacted] Flip transaction.
Approved exception form required for the following: use appraised value on flip transaction and not document improvements.

Approved as is
- Due Diligence Vendor-07/25/2023

Waived-Exception on page 334

Seller bought the property in shortsale in [redacted]. Remoleded and lised for sale in[redacted] Flip transaction.
Approved exception form required for the following: use appraised value on flip transaction and not document improvements.

Approved as is
- Due Diligence Vendor-07/25/2023

Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan program

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1069341

XXXXXXX-2023-NQM4-550

Closed

FCRE6843

2023-08-02 09:13

2023-08-09 09:14

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-emd from [redacted] account now present. - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Please see document for deposit in attachment - Seller-08/08/2023

Open-provide proof borrower EMD of $30k was given to title and 60 days account statement drawn from - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Please see document for deposit in attachment - Seller-08/08/2023

Resolved-emd from [redacted] account now present. - Due Diligence Vendor-08/09/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1083344

XXXXXXX-2023-NQM4-551

Closed

FCOM1159

2023-07-26 16:27

2023-08-02 11:38

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-proof electronic delivery sent. - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Please see evidence that Revised Loan Estimate issues on 07/14/2023 was sent electronically in attachment - Seller-08/01/2023

Open-Provide evidence that Revised Loan Estimate issues on 07/14/2023 was sent electronically
- Due Diligence Vendor-07/26/2023

Ready for Review-Document Uploaded. Please see evidence that Revised Loan Estimate issues on 07/14/2023 was sent electronically in attachment - Seller-08/01/2023

Resolved-proof electronic delivery sent. - Due Diligence Vendor-08/02/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1071679

XXXXXXX-2023-NQM4-552

Closed

FCRE1493

2023-07-25 13:59

2023-08-11 08:33

Resolved

1 - Information

Credit

Eligibility

Trade line count does not meet program requirements

Resolved-cleared with addtl alt trade - Due Diligence Vendor-08/11/2023

Ready for Review-Document Uploaded. please see attached tradelines. thank you - Seller-08/11/2023

Open-No open tradelines over 12 months reviewed. Only 1 alternate tradeline of verification of rent page 443 Trade lines on credit reports open 2/23 and 1/23 Not 12 months - Due Diligence Vendor-07/25/2023

Ready for Review-Document Uploaded. please see attached tradelines. thank you - Seller-08/11/2023

Resolved-cleared with addtl alt trade - Due Diligence Vendor-08/11/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1069176

XXXXXXX-2023-NQM4-553

Closed

FCRE1197

2023-07-29 21:08

2023-07-29 21:09

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 657 is less than Guideline FICO of 660 Document Uploaded. Exception (pg 734) requesting 657 credit score which is less than 660 minimum. Approved with conditions to +0.25 to the Rate - Due Diligence Vendor-07/30/2023

Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, DTI >=10% lower than loan program, No credit events past 48 months, 5+ years credit history, Low LTV

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1077337

XXXXXXX-2023-NQM4-554

Closed

FVAL9739

2023-07-28 16:00

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception (pg 786) Rural with less than 25% built up and unique property (Geo Dome)>10 acres. Approved with conditions to +1 in Price, DSCR>0.5, Value review required. - Due Diligence Vendor-07/28/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1076857

XXXXXXX-2023-NQM4-555

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-556

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-557

Closed

FCRE1491

2023-08-02 15:01

2023-08-18 08:35

Waived

2 - Non-Material

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Waived-Asset Qualification Does Not Meet Guideline Requirements. Borrower's contribution is less than the required
20% from own funds.

- Due Diligence Vendor-08/18/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-08/17/2023

Open-Asset Qualification Does Not Meet Guideline Requirements Borrower's contribution is less than the required 20% from own funds. Borrower's liquid assets total $68,867.37 with $40,000 gift at closing leaves Borrower's contribution from own funds at $35,600. - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Exception Form provided - Seller-08/17/2023

Waived-Asset Qualification Does Not Meet Guideline Requirements. Borrower's contribution is less than the required
20% from own funds.

- Due Diligence Vendor-08/18/2023

Compensating Factors
No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, Credit score >40 points than
minimum required
Credit Score 683

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1084485

XXXXXXX-2023-NQM4-558

Closed

FPRO1242

2023-08-02 13:25

2023-08-04 09:20

Resolved

1 - Information

Property

Missing Doc

Appraisal is Missing

Resolved-Appr and AVM now present - Due Diligence Vendor-08/04/2023

Resolved-Appraisal is Present or is Waived - Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded. Please find appraisal report attached. Thank you! - Seller-08/03/2023

Open- - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Please find appraisal report attached. Thank you! - Seller-08/03/2023

Resolved-Appr and AVM now present - Due Diligence Vendor-08/04/2023

Resolved-Appraisal is Present or is Waived - Due Diligence Vendor-08/04/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1084211

XXXXXXX-2023-NQM4-558

Closed

FVAL1039

2023-08-02 13:26

2023-08-04 09:20

Resolved

1 - Information

Property

Value

Appraised value unsupported

Resolved-Appr and AVM now present - Due Diligence Vendor-08/04/2023

Ready for Review-Please find appraisal report uploaded. Thank you! - Seller-08/03/2023

Open-no CU score or AVM - Due Diligence Vendor-08/02/2023

Ready for Review-Please find appraisal report uploaded. Thank you! - Seller-08/03/2023

Resolved-Appr and AVM now present - Due Diligence Vendor-08/04/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1084217

XXXXXXX-2023-NQM4-558

Closed

FCRE8611

2023-07-26 12:05

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-Exception found page 226

Income Volatile due to nature of the business see LOE attached

Approved with conditions +0.25 to the rate - Due Diligence Vendor-07/26/2023

No credit events past 48 months, Credit score >40 points than minimum required, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1070995

XXXXXXX-2023-NQM4-559

Closed

FCRE6843

2023-07-31 13:25

2023-08-17 08:42

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-signature card received. - Due Diligence Vendor-08/17/2023

Ready for Review-Document Uploaded. please see attached document - Seller-08/16/2023

Counter-this check copy does not show company name. we need proof borrower have access to[redacted] - Due Diligence Vendor-08/11/2023

Ready for Review-Document Uploaded. please see check in attachment - Seller-08/10/2023

Counter-page 902 does not reference company name listed in finding. - Due Diligence Vendor-08/04/2023

Ready for Review-Please find CPA Letter merged with complete credit pkg, page 902. Thank you! - Seller-08/03/2023

Open- - [redacted] statements in the name of [redacted] . There is nothing in the file tying the borrower to this business. - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. please see attached document - Seller-08/16/2023

Ready for Review-Document Uploaded. please see check in attachment - Seller-08/10/2023

Ready for Review-Please find CPA Letter merged with complete credit pkg, page 902. Thank you! - Seller-08/03/2023

Resolved-signature card received. - Due Diligence Vendor-08/17/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

1079175

XXXXXXX-2023-NQM4-559

Closed

FCRE1491

2023-07-31 13:23

Waived

2 - Non-Material

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Waived-Lender granted exception for exceeding the max allowed NSF's

See page 301 - Due Diligence Vendor-07/31/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1079174

XXXXXXX-2023-NQM4-559

Closed

FCRE1492

2023-07-31 13:22

Waived

2 - Non-Material

Credit

Assets

Cash Out Does Not Meet Guideline Requirements

Waived-Lender granted exception for CO less than 6 months at [redacted] LTV

See page 299 - duplicate exception page 300 - Due Diligence Vendor-07/31/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1079170

XXXXXXX-2023-NQM4-560

Closed

FCOM1221

2023-07-27 15:17

2023-07-31 16:10

Resolved

1 - Information

Compliance

Missing Doc

The Deed of Trust is Incomplete

Resolved-Received Deed of trust - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. apologies, see attached full Mtg - Seller-07/28/2023

Open-Page 5 of 20 and 9 of 20 of the deed of trust is missing in file. - Due Diligence Vendor-07/27/2023

Ready for Review-Document Uploaded. apologies, see attached full Mtg - Seller-07/28/2023

Resolved-Received Deed of trust - Due Diligence Vendor-07/31/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1074303

XXXXXXX-2023-NQM4-560

Closed

FVAL9739

2023-07-26 09:33

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception on page 102

Need to see if we can waive rural LLPA

Looking to see if we can waive the rural LLPA on this loan. the appraisal was received and it shows Zoning an RE which whats for Rural Estate District. After reviewing the appraisal, the home doesn't have characteristics of rural properties except the zoning. The appraiser checked off suburban, the property is only .75 acres and the comps were not far from the home. UWM is willing to do the loan without an LLPA add-on. Excellent credit borrower and using all own funds.

Approved with conditions - Ok to waive rural adjustment - Due Diligence Vendor-07/26/2023

Revolving debt is under 30%, DTI >=10% lower than loan program, No credit events past 48 months, Borrower contribution exceeds
requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1070602

XXXXXXX-2023-NQM4-561

Closed

FCRE9991

2023-07-28 14:19

2023-07-31 16:15

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-1008 received had different rent amount then what is supported in file - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Please see attached 1008 - Seller-07/28/2023

Open-DSCR Tape date = 0.98 - R/L is 1.31. Review is 0.95. 1003 PITI (no 1008 in file) is $[redacted]vs actual of $[redacted] - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. Please see attached 1008 - Seller-07/28/2023

Resolved-1008 received had different rent amount then what is supported in file - Due Diligence Vendor-07/31/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1076662

XXXXXXX-2023-NQM4-561

Closed

FCRE9580

2023-07-27 08:24

2023-07-27 09:01

Waived

2 - Non-Material

Credit

Eligibility

Bankruptcy History does not meet guidelines

Waived-Page 368. Borrower BK discharged in 03/22 < 24 months. Approved Exception. - Due Diligence Vendor-07/27/2023

LTV 10% below maximum, Bwr contribution exceeds 5%, Borrower's down payment is over 50%, No mortgage lates last 24 months, 5+ yrs credit history. Reserves > 6months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1072919

XXXXXXX-2023-NQM4-561

Closed

FPRO116

2023-07-27 08:40

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Exception page 407 - HOA wind insurance deductible is 7.5%- G/L is 5%. - Due Diligence Vendor-07/27/2023

LTV 10% below program maximum, Bwr contribution exceeds 5%, 5+ yrs credit history, Reserves > 6 months.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1072966

XXXXXXX-2023-NQM4-562

Closed

FCRE6843

2023-07-31 10:24

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Less than. 20% of own funds
Comments Hello credit committee this is an exception for well qualified borrower that is short 20% contribution for an
investment property . They are putting over 20% down.
- Due Diligence Vendor-07/31/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history
page 115

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1078787

XXXXXXX-2023-NQM4-563

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-564

Closed

FCRE1493

2023-07-30 15:02

2023-07-30 15:16

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-Document Uploaded. Exception (pg 874) requested for B2 having limited tradelines but B1 has sufficient tradelines. Approved with conditions to +0.25 in Price - Due Diligence Vendor-07/30/2023

2+ borrowers on the loan, Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1077660

XXXXXXX-2023-NQM4-565

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-566

Closed

FCRE1194

2023-07-31 10:47

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Max LTV for DSCR of 0.87 is [redacted] - Lender Exception to [redacted] LTV page 836 - Due Diligence Vendor-07/31/2023

Bwr contribution exceeds 5%, No credit events past 48 months, No consumer lates last 48 months, Reserves > 6 months.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1078835

XXXXXXX-2023-NQM4-567

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-568

Closed

FCOM1159

2023-07-27 13:08

2023-07-31 16:16

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-Proof received of elec signature - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Please find the attached proof. Thank you! - Seller-07/28/2023

Open-Provide evidence that revised loan estimate issued on 7/17/23 was sent electronically. - Due Diligence Vendor-07/27/2023

Ready for Review-Document Uploaded. Please find the attached proof. Thank you! - Seller-07/28/2023

Resolved-Proof received of elec signature - Due Diligence Vendor-07/31/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1073987

XXXXXXX-2023-NQM4-568

Closed

FCOM2588

2023-07-26 13:58

Waived

2 - Non-Material

Compliance

TRID

Final CD: Interest Rate is missing or is inaccurate

Waived-Exception on page 7

Par pricing at [redacted] LTV
Hello Credit committee, our par rate for this borrower is 9.99 with a cost and we can not exceed that. We are trying to get a par rate and match competitor [redacted]at 10.75 par. Please consider this exception.

Approved with conditions 10.75 at par. the decision is valid within this week, must lock on or before 6/30 - Due Diligence Vendor-07/26/2023

Waived-Exception on page 7

Par pricing at [redacted] LTV
Hello Credit committee, our par rate for this borrower is 9.99 with a cost and we can not exceed that. We are trying to get a par rate and match competitor Acra at 10.75 par. Please consider this exception.

Approved with conditions 10.75 at par. the decision is valid within this week, must lock on or before 6/30 - Due Diligence Vendor-07/26/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1071366

XXXXXXX-2023-NQM4-569

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-570

Closed

FCRE1194

2023-07-31 14:17

2023-07-31 14:18

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Document Uploaded. Exception (pg 453) requesting [redacted] LTV for Rural subject property. Approved with conditions to price as Rural. - Due Diligence Vendor-07/31/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months, Reserves>6 months

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1079319

XXXXXXX-2023-NQM4-571

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-572

Closed

FCRE1212

2023-07-31 15:48

2023-08-09 09:37

Resolved

1 - Information

Credit

Missing Doc

Purchase Contract is Partial

Resolved-received full contract - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Please see the complete Purchase Contract attached - Seller-08/08/2023

Open-Purchase contract has not been fully provided Purchase contract page 11 of 11 is missing in file.
Note: Refer Contract start page.#387 to pg.# 396 - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Please see the complete Purchase Contract attached - Seller-08/08/2023

Resolved-received full contract - Due Diligence Vendor-08/09/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1079516

XXXXXXX-2023-NQM4-573

Closed

FCOM9175

2023-07-28 13:42

2023-08-08 11:28

Resolved

1 - Information

Compliance

TRID

TRID: Closing Disclosure not received by the borrower 3 days prior to consummation

Resolved-Received e sign doc - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. eSign Certificate provided - Seller-08/07/2023

Open-Provide evidence for Closing disclosure issued on 07/17/2023 was send electronically - Due Diligence Vendor-07/28/2023

Ready for Review-Document Uploaded. eSign Certificate provided - Seller-08/07/2023

Resolved-Received e sign doc - Due Diligence Vendor-08/08/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1076544

XXXXXXX-2023-NQM4-574

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

XXXXXXX-2023-NQM4-575

Closed

FCRE8860

2023-08-01 06:49

Waived

2 - Non-Material

Credit

Income/Employment

Audited DSCR does not meet guidelines requirements

Waived-Exception due to DSCR<1 and fico of 668
Comments Hello Team, Loan is approved, Requesting exception due to Cash-out DSCR<1 with fico of 668. Please
approve this request without a hit to the rate/price. The LTV is [redacted] and allowed based on credit matrix. DSCR
is .910. Attached is a copy of the appraisal and credit report for reference. Please take this into consideration
for approval.
- Due Diligence Vendor-08/01/2023

No credit events past 48 months, 5+ years credit history, Other: specify below
Subject property is owned free and clear along with reserve requirement
Credit Decision
Status Approved with conditions Conditions: 65 LTV max, DSCR>=0.85 required
page 429

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1080381

XXXXXXX-2023-NQM4-576

Closed

FCRE6843

2023-07-31 12:23

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception on page 821

[redacted] is listed on Bank Statement of[redacted]. She is not willing to be on the loan.

Approved with conditions +0.25 to the rate - Due Diligence Vendor-07/31/2023

Waived-Exception on page 821

[redacted] is listed on Bank Statement of [redacted]. She is not willing to be on the loan.

Approved with conditions +0.25 to the rate - Due Diligence Vendor-07/31/2023

5 years on current job, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months,
Credit score >40 points than minimum required

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1079050

XXXXXXX-2023-NQM4-577

Closed

FCRE1317

2023-08-03 14:53

2023-08-07 11:04

Resolved

1 - Information

Credit

Income/Employment

Borrower 1 Total Years Employment Verified is Less Than 24 Months

Resolved-Letter does reflect that borrower has been in self employed 2 years.  - Due Diligence Vendor-08/07/2023

Ready for Review-Document Uploaded. Borrower was self employed in same line of business and then incorporated in 2022, and even last day in 2020 would make it over 2+ years  - Seller-08/07/2023

Open-Need a full 2 year employment history provided.  While the CPA letter on page 220 does state borrower has been in same line of work, we are unable to validate the history as it is incomplete. - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. Borrower was self employed in same line of business and then incorporated in 2022, and even last day in 2020 would make it over 2+ years - Seller-08/07/2023

Resolved-Letter does reflect that borrower has been in self employed 2 years. - Due Diligence Vendor-08/07/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1086969

XXXXXXX-2023-NQM4-578

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-579

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-580

Closed

FCRE1492

2023-08-01 07:56

2023-08-03 11:58

Waived

2 - Non-Material

Credit

Assets

Cash Out Does Not Meet Guideline Requirements

Waived-Document Uploaded. Exception (pg 140 - 2) requesting to use Cash Out for reserves. Approved as is. - Due Diligence Vendor-08/01/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months,
Reserves>6 months (ineligible for Foreign Nationals)

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1080524

XXXXXXX-2023-NQM4-581

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-582

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-583

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-584

Closed

FCRE6843

2023-07-31 14:24

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception on page 265

Other name on bank statement is wife. Not on loan. Wife is only on bank statement for emergency purposes
only.

Approved with conditions : +0.25 to the rate, 71% ltv max. the exception is only valid if it is possible to exclude wife's income - Due Diligence Vendor-07/31/2023

5 years on current job, 10 years or more in same line of employment, No credit events past 48 months, 5+ years credit history, LTV
10% below maximum
[redacted]. Primary home purchase

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1079345

XXXXXXX-2023-NQM4-585

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-586

Closed

FCRE1212

2023-08-01 11:54

2023-08-09 10:16

Resolved

1 - Information

Credit

Missing Doc

Purchase Contract is Partial

Resolved-received signed addendum - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Signed addendum provided - Seller-08/08/2023

Open-Purchase contract has not been fully provided Borrower & Seller signature missing on addendum available on page no 435.
Seller signature missing on addendum available on page no 436 - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Signed addendum provided - Seller-08/08/2023

Resolved-received signed addendum - Due Diligence Vendor-08/09/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1081084

XXXXXXX-2023-NQM4-586

Closed

FVAL9739

2023-08-01 11:51

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :- Material: Credit
Short Description :- more than 20% of units owned by 1 entity
Comments :- see attached condo form. One entity owns more than 20 % of units
Exception form available on page no 643 of 696 & Condo form available on page no 297
- Due Diligence Vendor-08/01/2023

Borrower contribution exceeds requirement >=5%, Revolving debt is under 30%, No mortgage late payments in last 24 months, 5+ years credit history

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1081079

XXXXXXX-2023-NQM4-587

Closed

FPRO116

2023-08-01 11:42

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Page 280. Subject is a single wide with an addition - Addition did not have an affixation. Affidavit added at close and Lender not to require an additional inspection for the addition (appears grandfathered in) - Due Diligence Vendor-08/01/2023

No credit events past 48 months, No mortgage lates last 24 months, No consumer lates last 48 months, Reserves > 6 months.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1081066

XXXXXXX-2023-NQM4-587

Closed

FCRE8201

2023-08-01 11:39

Waived

2 - Non-Material

Credit

Eligibility

Loan does not conform to program guidelines

Waived-Exception page 320. Cash out refinance property owned less than 12 months. Loan amount exceeds purchase price of [redacted]. (note that the exception states s/p is rural but it is not per appraisal in file) - Due Diligence Vendor-08/01/2023

Waived-Exception page 320. Cash out refinance property owned less than 12 months. Loan amount exceeds purchase price of $[redacted]. (note that the exception states s/p is rural but it is not per appraisal in file) - Due Diligence Vendor-08/01/2023

No credit events past 48 months, No mortgage lates last 24 months, No consumer lates last 48 months, Reserves > 6 months.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1081056

XXXXXXX-2023-NQM4-588

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-589

Closed

FCRE6843

2023-08-01 07:46

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception on page 110

6 nsfs in 12 mths

Approved with conditions +.25 to the rate - Due Diligence Vendor-08/01/2023

Several income sources and DTI below 45%, Revolving debt is under 30%, DTI >=10% lower than loan program, No credit events
past 48 months, 2+ borrowers on the loan

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1080494

XXXXXXX-2023-NQM4-590

Closed

FCOM1159

2023-08-01 15:46

2023-08-08 13:27

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-Received esigned doc evidence - Due Diligence Vendor-08/08/2023

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

Open-provide evidence that Revised Loan Estimate issued on 07/20/2022 was signed electronically - Due Diligence Vendor-08/01/2023

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

Resolved-Received esigned doc evidence - Due Diligence Vendor-08/08/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1081840

XXXXXXX-2023-NQM4-590

Closed

FCOM1221

2023-08-01 15:47

2023-08-08 13:26

Resolved

1 - Information

Compliance

Missing Doc

The Deed of Trust is Incomplete

Resolved-Evidence that the notary is the 27th is accepted - Due Diligence Vendor-08/08/2023

Open-Notary date is not clear in deed of Trust. page# 175 of 185 - Due Diligence Vendor-08/01/2023

Resolved-Evidence that the notary is the 27th is accepted - Due Diligence Vendor-08/08/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1081841

XXXXXXX-2023-NQM4-591

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-592

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-593

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-594

Closed

FCOM1159

2023-08-01 16:50

2023-08-08 11:32

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-Received proof of elec deliver - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. Please review uploaded print out. - Seller-08/07/2023

Open-Provide evidence that Revised Loan Estimate issues on 07/17/2023 was sent electronically - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Please review uploaded print out. - Seller-08/07/2023

Resolved-Received proof of elec deliver - Due Diligence Vendor-08/08/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1081921

XXXXXXX-2023-NQM4-594

Closed

FCRE5802

2023-08-01 15:52

Waived

2 - Non-Material

Credit

Eligibility

Cash reserves less than required by guidelines

Waived-Cash out as reserves
Comments Hello Credit Committee this exception is for using cash out as reserves borrower will have more than 12
months reserves after the close of this loan - Due Diligence Vendor-08/01/2023

No credit events past 48 months, No consumer late payments in last 48 months, Reserves>6 months
page 753

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1081860

XXXXXXX-2023-NQM4-595

Closed

FCRE1501

2023-08-02 06:48

2023-08-08 11:40

Resolved

1 - Information

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Resolved-updated Cash reserves based on latest statements - Due Diligence Vendor-08/08/2023

Resolved-Total Qualified Assets for Reserves Post-Close of $34511.03 is equal to or greater than Total Required Reserve Amount of $27983.31 - Due Diligence Vendor-08/08/2023

Ready for Review-Per final CD cash to close is $128,964.25. Asset available before closing were $195270.38. $195,270.38-$128,964.25=$66,306.13 -funds for reserves. - Seller-08/07/2023

Open-Total Qualified Assets for Reserves Post-Close of $23055.5 is less than Total Required Reserve Amount of $27983.31 short reserves because of the [redacted] card is balance monthly ($6628 balance due) this lowered assets available. - Due Diligence Vendor-08/02/2023

Ready for Review-Per final CD cash to close is $128,964.25. Asset available before closing were $195270.38. $195,270.38-$128,964.25=$66,306.13 -funds for reserves. - Seller-08/07/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1082847

XXXXXXX-2023-NQM4-596

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-597

Closed

FCRE1491

2023-08-02 08:44

2023-08-14 10:28

Waived

2 - Non-Material

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Waived-post closing condition gifts on WVOE
Comments SR UW asked me to send for post closing exception . This is WVOE program and borr closed with several gifts
- Due Diligence Vendor-08/14/2023

Ready for Review-Document Uploaded. Please, find the exception attached. Thank you! - Seller-08/11/2023

Open-Asset Qualification Does Not Meet Guideline Requirements Gift Funds are not allowed in the WVOE program. - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Please, find the exception attached. Thank you! - Seller-08/11/2023

Waived-post closing condition gifts on WVOE
Comments SR UW asked me to send for post closing exception . This is WVOE program and borr closed with several gifts
- Due Diligence Vendor-08/14/2023

Compensating Factors
Revolving debt is under 30%, 5 years on current job, No consumer late payments in last 48 months, Credit score >40 points than
minimum required

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Post-Close

Yes

1083230

XXXXXXX-2023-NQM4-597

Closed

FCRE1480

2023-08-02 08:44

2023-08-14 10:27

Resolved

1 - Information

Credit

Assets

Asset 2 Does Not Meet Guideline Requirements

Resolved-2 months now present - Due Diligence Vendor-08/14/2023

Ready for Review-Document Uploaded. Please, find additional BS. Thank you! - Seller-08/11/2023

Open-Asset Record 2 Does Not Meet G/L Requirements [redacted] only one months asset statement provided in file on page no 74. Need additional 30 days asset statement . - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Please, find additional BS. Thank you! - Seller-08/11/2023

Resolved-2 months now present - Due Diligence Vendor-08/14/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1083228

XXXXXXX-2023-NQM4-597

Closed

FCRE1493

2023-08-02 12:27

2023-08-08 11:41

Resolved

1 - Information

Credit

Eligibility

Trade line count does not meet program requirements

Resolved-Reviewed and agree with alternative credit - Due Diligence Vendor-08/08/2023

Ready for Review-Please, find 2 more alternative tradelines for 12 months - Utility payments and phone bill payments merged with complete credit pkg, pp.295-434. Thank you! - Seller-08/07/2023

Open-Loan file does not meet minimum required tradeline - Min 2 tradelines reporting for 24 or more months and remained open within 12 months . There is only 1 tradeline.
Note : 12 months Utility payments provided in file as per guide required 24 months utility payments. - Due Diligence Vendor-08/02/2023

Ready for Review-Please, find 2 more alternative tradelines for 12 months - Utility payments and phone bill payments merged with complete credit pkg, pp.295-434. Thank you! - Seller-08/07/2023

Resolved-Reviewed and agree with alternative credit - Due Diligence Vendor-08/08/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1083978

XXXXXXX-2023-NQM4-598

Closed

FCRE1501

2023-08-02 10:34

2023-08-02 14:05

Waived

2 - Non-Material

Credit

Assets

Liquid Funds Post-Close is less than Total Required Reserve Amount

Waived-Exception type - Reserves
Short Description :Borrower is receiving [redacted] in cash out proceeds. can he use his proceeds as reserves
Comments :Need Exception to use the cash out money as the reserves. Borrower is receiving [redacted] cash out proceeds. can he use his proceeds as reserves:
Exception page # 504

- Due Diligence Vendor-08/02/2023

5 years on current job, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1083647

XXXXXXX-2023-NQM4-599

Closed

FCRE1236

2023-08-02 14:28

Waived

2 - Non-Material

Credit

Eligibility

Occupancy Not Allowed

Waived-Tenant will vacant the property 90days after the loan closed and then
Comments If borrower cannot occupy before 60 days then we need to get the exception for the same.
- Due Diligence Vendor-08/02/2023

Compensating Factors
DTI >=10% lower than loan program, LTV 10% below maximum, Credit score >40 points than minimum required
page 643

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1084381

XXXXXXX-2023-NQM4-600

Closed

FCRE1194

2023-08-02 07:41

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] PAge 164 Exception to permit [redacted] cash out on a 2-4 fam. Max is [redacted] - Due Diligence Vendor-08/02/2023

No credit events past 48 months, No mortgage lates last 24 months, 5+ years credit history, No consumer lates last 48 months. Credit score >40 points above program minimum.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1083019

XXXXXXX-2023-NQM4-601

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-602

Closed

FCOM2736

2023-07-30 11:12

2023-08-03 12:30

Resolved

1 - Information

Compliance

Disclosure

Borrower(s) did not receive 3 days right of rescission

Resolved-proof funded 7/25 now present. - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. Alta showing the 25th as funding date - Seller-08/03/2023

Open-ROR period expired on same day as disbursement - the 24th. - Due Diligence Vendor-07/30/2023

Ready for Review-Document Uploaded. Alta showing the 25th as funding date - Seller-08/03/2023

Resolved-proof funded 7/25 now present. - Due Diligence Vendor-08/03/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1077632

XXXXXXX-2023-NQM4-602

Closed

1000867-1002553

2023-07-31 11:50

2023-08-03 12:29

Resolved

1 - Information

Compliance

Rescission:Disbursement

Federal - Right of Rescission (Loan Disbursement Violation) (TILA)

Resolved-Resolved - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. Alta showing the 25th as funding date - Seller-08/03/2023

Open-The loan disbursement date (2023-07-24) is earlier than, or the same day as, the calculated "Right to Cancel Expire Date" (2023-07-24). Under Regulation Z, funds may not be disbursed to the borrower until after the expiration of the rescission period. (Reg Z, 12 CFR 1026.23(c) and Official Staff Commentary) The loan disbursement date & Right to Cancel Expire Date Both are same 07/24/2023 - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. Alta showing the 25th as funding date - Seller-08/03/2023

Resolved-Resolved - Due Diligence Vendor-08/03/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1078976

XXXXXXX-2023-NQM4-603

Closed

FCRE9991

2023-07-31 15:42

2023-08-02 08:52

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-using 30% where as CPA states 35% but total income used is less than personal and bus at a 50% exp ratio - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. DTI is 40.620%,as income is $[redacted] per income WS and income used for borrower's qualification - Seller-08/02/2023

Open-DTI is 46.12 as income is $[redacted] (per final 1003) - Due Diligence Vendor-07/31/2023

Ready for Review-Document Uploaded. DTI is 40.620%,as income is $[redacted] per income WS and income used for borrower's qualification - Seller-08/02/2023

Resolved-using 30% where as CPA states 35% but total income used is less than personal and bus at a 50% exp ratio - Due Diligence Vendor-08/02/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1079504

XXXXXXX-2023-NQM4-604

Closed

FPRO1149

2023-08-03 07:18

2023-08-07 14:58

Waived

2 - Non-Material

Property

Property is Lease Hold

Waived-Property Rights are Lease Hold Document Uploaded. Exception requested for Leasehold, ground rent is a 99 year Lease renewable forever (pg 144). Approved with conditions to +0.75 to Price, [redacted] LTV max, DSCR>=1 Compensating factors Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months
- Due Diligence Vendor-08/03/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1085537

XXXXXXX-2023-NQM4-604

Closed

FCRE1247

2023-08-03 08:32

Waived

2 - Non-Material

Credit

Eligibility

Seller Contribution Exceeds Program Maximum

Waived-Document Uploaded. Exception (pg 196) requesting approval for $9850 seller credit. Approved with conditions to +0.25 in Price - Due Diligence Vendor-08/03/2023

Borrower contribution exceeds requirement >=5%, No credit events past 48 months, No mortgage late payments in last 24 months

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1085775

XXXXXXX-2023-NQM4-605

Closed

FCRE1441

2023-08-03 11:27

Waived

2 - Non-Material

Credit

Eligibility

Delinquent Credit History Does Not Meet Guideline Requirements

Waived-Type: Credit Score
Description : 1x90 in 13-24 months
Comments: chose credit score as reason for exception because there was no option for mtg. history see attached loe, 90 was in months 13-24. uw overlooked this was caught in qc.
Exception form: pg.#553 of 623
- Due Diligence Vendor-08/03/2023

DSCR=> 1.3 , Experienced investor with 2+ investment properties, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1086252

XXXXXXX-2023-NQM4-606

Closed

FCOM4148

2023-08-04 12:25

2023-08-09 10:27

Resolved

1 - Information

Compliance

Missing Doc

Missing Escrow Analysis

Resolved-received corrected CD - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. LOE, PCCD provided - Seller-08/08/2023

Open-Please provide a confirmation on Escrows.
* Final CD pg.#07: reflects HOA is included with Taxes and Insurance.
* IEAD form pg.#78 : reflects only Taxes and Insurance included. - Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded. LOE, PCCD provided - Seller-08/08/2023

Resolved-received corrected CD - Due Diligence Vendor-08/09/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1089092

XXXXXXX-2023-NQM4-606

Closed

FCOM4227

2023-08-02 15:33

2023-08-08 11:50

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-Received e sign evidence - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. eSign Certificate provided - Seller-08/07/2023

Open-Provide evidence that Revised Closing Disclosure issues on 07/21/2023 was sent electronically - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. eSign Certificate provided - Seller-08/07/2023

Resolved-Received e sign evidence - Due Diligence Vendor-08/08/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1084586

XXXXXXX-2023-NQM4-606

Closed

FCRE1440

2023-08-02 13:35

2023-08-08 11:46

Resolved

1 - Information

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Resolved-Received VOM satisfies finding - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. Please see the attached statement - Seller-08/08/2023

Open-Housing History Does Not Meet Guideline Requirements As per guideline need 12 months mortgage payment history for the subject property.
Note - 9 months mortgage history provided in file (Pg#247). History period reads from May 2022 to May 2023 but 3rd page is missing. - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Please see the attached statement - Seller-08/08/2023

Resolved-Received VOM satisfies finding - Due Diligence Vendor-08/08/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1084238

XXXXXXX-2023-NQM4-607

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-608

Closed

FCRE1194

2023-08-01 11:52

2023-08-07 11:19

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Exception on page 166

This file was submitted on May 26 prior to change .. Please honor the increase LTV [redacted] - Due Diligence Vendor-08/01/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, Credit score >40 points
than minimum required
AVM supports the value

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1081082

XXXXXXX-2023-NQM4-609

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-610

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-611

Closed

FCOM4227

2023-08-02 11:58

2023-08-09 10:40

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-received CD - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Please, find attached. Thank you! - Seller-08/09/2023

Open-Provide Closing Disclosure redisclosed on 25th July 2023 which corresponds to COC in file dated 25th July 2023. - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Please, find attached. Thank you! - Seller-08/09/2023

Resolved-received CD - Due Diligence Vendor-08/09/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1083850

XXXXXXX-2023-NQM4-612

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

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

XXXXXXX-2023-NQM4-613

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-614

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-615

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-616

Closed

FCRE9994

2023-08-03 08:32

Waived

2 - Non-Material

Credit

Eligibility

Original LTV (OLTV) does not meet eligibility requirement(s)

Waived-Use current appraised value and current purchase price instead of initial purchase price paid by seller plus
documented improvements on flip
Comments Use current appraised value and current purchase price (whichever is less) instead of initial purchase price
paid by seller plus documented improvements to calculate CLTV on flip
- Due Diligence Vendor-08/03/2023

Compensating Factors
No credit events past 48 months, No consumer late payments in last 48 months, Credit score >40 points than minimum required
page 525

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1085777

XXXXXXX-2023-NQM4-617

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-618

Closed

FCRE1479

2023-08-03 11:09

2023-08-07 11:06

Resolved

1 - Information

Credit

Assets

Asset 1 Does Not Meet Guideline Requirements

Resolved-Proof of wire received - Due Diligence Vendor-08/07/2023

Ready for Review-Document Uploaded. PFA the copies of invoices for the deposit of $10,000 and $9800. The deposit of $5000 is transferred from the other joint acct of the borrower
- Seller-08/07/2023

Open-Asset Record 1 Does Not Meet G/L Requirements
Lox and Source of large deposit is required in [redacted] XX3528
07/03/2023 $9,800.00 Page 52
06/23/2023 $5,000.00 Page 54
06/23/2023 $10,000.00 Page 54 - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. PFA the copies of invoices for the deposit of $10,000 and $9800. The deposit of $5000 is transferred from the other joint acct of the borrower
- Seller-08/07/2023

Resolved-Proof of wire received - Due Diligence Vendor-08/07/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1086205

XXXXXXX-2023-NQM4-618

Closed

FCRE1226

2023-08-03 13:57

2023-08-07 11:06

Resolved

1 - Information

Credit

Missing Doc

Appraisal document is incomplete or partial

Resolved-Accept investor explanation. - Due Diligence Vendor-08/07/2023

Ready for Review-The appraisal doesn’t need to be marked rural by the appraiser to be considered rural by our guidelines. This property is rural due to the present land use being more than 50% other, and the appraiser comments that the “other” use is vacant. Due to this, we must consider the property rural if Appraiser identifies land use as 50% - Seller-08/07/2023

Open-Please provide a supporting document for reflecting property is designated as a "Rural", as mentioned in the Exception form page#938. Appraisal says Suburban
- Due Diligence Vendor-08/03/2023

Ready for Review-The appraisal doesn’t need to be marked rural by the appraiser to be considered rural by our guidelines. This property is rural due to the present land use being more than 50% other, and the appraiser comments that the “other” use is vacant. Due to this, we must consider the property rural if Appraiser identifies land use as 50% - Seller-08/07/2023

Resolved-Accept investor explanation. - Due Diligence Vendor-08/07/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1086785

XXXXXXX-2023-NQM4-618

Closed

FCOM5413

2023-08-03 13:54

2023-08-07 11:05

Resolved

1 - Information

Compliance

Missing Doc

Prepayment Penalty Information Unavailable

Resolved-Lock shows no prepayment penalty - Due Diligence Vendor-08/07/2023

Ready for Review-Document Uploaded. Per lock there is no prepayment penalty - Seller-08/07/2023

Open-Please confirm if no prepayment in the FL state - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. Per lock there is no prepayment penalty - Seller-08/07/2023

Resolved-Lock shows no prepayment penalty - Due Diligence Vendor-08/07/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1086776

XXXXXXX-2023-NQM4-618

Closed

FCOM4028

2023-08-03 09:22

2023-08-07 09:54

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-08/07/2023

Ready for Review-Please waive, file closed 07/28 - Seller-08/07/2023

Open-Missing evidence of Mortgage recording Loan closed in the last 60 days - Due Diligence Vendor-08/04/2023

Ready for Review-Please waive, file closed 07/28 - Seller-08/07/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1085891

XXXXXXX-2023-NQM4-618

Closed

FVAL9739

2023-08-03 11:31

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type : Material: Appraisal
Short Description : It’s new construction. Properties designated as "rural" to be considered on a case-by-case basis. Appraiser
indicates present land use 53%.
Comments: Exception is required. It’s new construction. Degree of Development and Growth Rate: Properties designated
as "rural" to be considered on a case-by-case basis. Appraiser indicates present land use 53%.

Exception page # 938 - Due Diligence Vendor-08/03/2023

DTI >=10% lower than loan program, No mortgage late payments in last 24 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1086280

XXXXXXX-2023-NQM4-618

Closed

FCRE1194

2023-08-03 11:29

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception Type Material: LTV
Short Description : LTV [redacted] Purchase, investment New Construction
Comments: Exception required , new construction, investment property max LTV [redacted]. Broker requested LTV [redacted]

Exception page # 937 - Due Diligence Vendor-08/03/2023

10 years or more in same line of employment, No credit events past 48 months, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1086272

XXXXXXX-2023-NQM4-619

Closed

FCRE1437

2023-08-02 10:56

2023-08-09 10:42

Resolved

1 - Information

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Resolved-received items for income - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Hello, Bank Statements and Income Calculation provided. Thank you! - Seller-08/08/2023

Open-Income and Employment Do Not Meet Guidelines Doc type is 24 MBS. There are multiple individual stmts from various accounts but no sequential accounts for more than a few months at a time. Please provide the Worksheet identifying the account used and all stmts that were obtained to calculate the income. - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Hello, Bank Statements and Income Calculation provided. Thank you! - Seller-08/08/2023

Resolved-received items for income - Due Diligence Vendor-08/09/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1083695

XXXXXXX-2023-NQM4-619

Closed

FCRE1493

2023-08-02 11:06

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-Super [redacted] requires 3 active trades for 12 months- VOR use has 23 rated months as additional trade. Page 1024 (see credit comments) - Due Diligence Vendor-08/02/2023

Residual Income > $3000, LTV 10% below maximum, Credit score > 40 points above program minimum, Bwr contribution exceeds 5%, Reserves > 6 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1083720

XXXXXXX-2023-NQM4-620

Closed

FCRE1440

2023-08-03 10:57

2023-08-11 09:08

Resolved

1 - Information

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Resolved-proof loan not in borrower name - Due Diligence Vendor-08/11/2023

Ready for Review-Document Uploaded. Please review uploaded LOE from [redacted] and MTG statement showing property is not on borrower's name. - Seller-08/10/2023

Counter-we do not have payment histories on 4 largest as they are new so we need this pay history. Please obtain a VOM - Due Diligence Vendor-08/09/2023

Ready for Review-Borrower’s owning 4 or more properties, the following criteria will apply:
• A mortgage history will be required on (3) largest investment properties, including the subject property (unless subject transaction is a purchase). In addition, the borrower’s primary residence housing history is required to be verified.
Borrower owns 5 additional subject properties. For 3 largest properties documents were provided in file . Property [redacted] has the lower balance -we do not need mortgage history on this property . - Seller-08/08/2023

Counter-Per guidelines page 34  - Mortgage history required on additional properties  - Due Diligence Vendor-08/08/2023

Ready for Review- [redacted] is an investment property  disclosed on 1003 - Seller-08/07/2023

Open-Housing History Does Not Meet Guideline Requirements  Missing complete 12 month mortgage history for [redacted] (only a single statement is present -page 86). MTG In partners name. - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. Please review uploaded LOE from [redacted] and MTG statement showing property is not on borrower's name. - Seller-08/10/2023

Ready for Review-Borrower’s owning 4 or more properties, the following criteria will apply:
• A mortgage history will be required on (3) largest investment properties, including the subject property (unless subject transaction is a purchase). In addition, the borrower’s primary residence housing history is required to be verified.
Borrower owns 5 additional subject properties. For 3 largest properties documents were provided in file . Property [redacted] has the lower balance -we do not need mortgage history on this property . - Seller-08/08/2023

Ready for Review-[redacted] an investment property disclosed on 1003 - Seller-08/07/2023

Resolved-proof loan not in borrower name - Due Diligence Vendor-08/11/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1086155

XXXXXXX-2023-NQM4-620

Closed

FCRE1201

2023-08-03 11:34

2023-08-08 11:52

Resolved

1 - Information

Credit

Missing Doc

Third Party Fraud Report not Provided

Resolved-Received fraud report - Due Diligence Vendor-08/08/2023

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-08/08/2023

Ready for Review-Fraud report uploaded - Seller-08/07/2023

Open-Missing Third Party Fraud Report Not provided in current file - Due Diligence Vendor-08/03/2023

Ready for Review-Fraud report uploaded - Seller-08/07/2023

Resolved-Received fraud report - Due Diligence Vendor-08/08/2023

Resolved-Third Party Fraud Report is provided - Due Diligence Vendor-08/08/2023

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1086288

XXXXXXX-2023-NQM4-620

Closed

FCRE1205

2023-08-03 11:34

2023-08-08 11:52

Resolved

1 - Information

Credit

Eligibility

OFAC Check Not Completed and/or Cleared

Resolved-Received fraud report - Due Diligence Vendor-08/08/2023

Resolved-OFAC Check Completed and Cleared - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. Fraud report uploaded. - Seller-08/07/2023

Open-OFAC Check Not Completed and/or Cleared - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. Fraud report uploaded. - Seller-08/07/2023

Resolved-Received fraud report - Due Diligence Vendor-08/08/2023

Resolved-OFAC Check Completed and Cleared - Due Diligence Vendor-08/08/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1086287

XXXXXXX-2023-NQM4-620

Closed

FCRE1492

2023-08-03 11:41

2023-08-03 11:43

Waived

2 - Non-Material

Credit

Assets

Cash Out Does Not Meet Guideline Requirements

Waived-Bwr purchased home for [redacted] in 03/2023 (page 768) - Improvements total 66K- (page 80). Borrower unable to provide receipts. PAge 776 Exception to use appraised value. - Due Diligence Vendor-08/03/2023

Waived-Bwr purchased home for[redacted] in[redacted] (page 768) - Improvements total 66K- (page 80). Borrower unable to provide receipts. PAge 776 Exception to use appraised value. - Due Diligence Vendor-08/03/2023

Revolving debt under 30%, DTI >10% lower than program maximum, No mortgage lates in last 24 months, Credit Score >40 points above program minimum.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1086311

XXXXXXX-2023-NQM4-620

Closed

FCRE1437

2023-08-03 10:39

2023-08-03 11:42

Waived

2 - Non-Material

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Waived-Income and Employment Do Not Meet Guidelines Bwr filed 2021 tax return 07/11/2023 -No IRS data available. Screenshot of filing/payment made on page 79, 387. Approved exception to accept the business income. - Due Diligence Vendor-08/03/2023

Revolving debt under 30%, DTI >10% lower than program maximum, No mortgage lates in last 24 months, Credit Score >40 points above program minimum.

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1086109

XXXXXXX-2023-NQM4-621

Closed

FCRE1194

2023-08-02 10:59

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Audited LTV of [redacted] exceeds Guideline LTV of [redacted] Exception page 948

Needs [redacted] LTV
Borrower had collection 12+ months ago, wants to do [redacted] CLTV to pay off collection and stick with Super
[redacted] instead of going [redacted] [redacted] CLTV.

Approved with conditions +0.25 to the rate
- Due Diligence Vendor-08/02/2023

Residual income >=$3000, DTI >=10% lower than loan program, 10 years or more in same line of employment, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1083701

XXXXXXX-2023-NQM4-622

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-623

Closed

FVAL9739

2023-08-03 09:22

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception page 206

New Construction, Appraiser did not include 2 comps outside of project as per new construction guidelines

Approved with conditions +0.125 to the rate - Due Diligence Vendor-08/03/2023

Revolving debt is under 30%, DTI >=10% lower than loan program, No credit events past 48 months, No mortgage late payments in
last 24 months, 5+ years credit history, No consumer late payments in last 48 months, LTV 10% below maximum

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1085892

XXXXXXX-2023-NQM4-624

Closed

FCRE6843

2023-08-03 15:46

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception Type:-Material: Borrower's assets
Short Description:-13% of borrower's own funds
It is an investment property and we require min 20% of borrower's own funds. However, this borrower only has 13%. It is a very good file, almost CTC, and it is one and only exception needed. Please approve!!
exception Page# 324 - Due Diligence Vendor-08/03/2023

Revolving debt is under 30%, Residual income >=$3000, DTI >=10% lower than loan program, No credit events past 48 months, 5+
years credit history, No consumer late payments in last 48 months, LTV 10% below maximum, Credit score >40 points than
minimum required, Borrower contribution exceeds requirement >=5%

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1087112

XXXXXXX-2023-NQM4-625

Closed

FCRE1493

2023-08-04 10:43

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-Type: Assets
Comment: Allow 100% Gift on [redacted] Program / Primary Purchase 1 Year P&L - [redacted] LTV
Note: Exception form - pg.#745 and this is a [redacted] loan and exception form is given for tradeline- min 10% contribution requirement not meeting. - Due Diligence Vendor-08/04/2023

5 years on current job, No credit events past 48 months, credit Score > 40 points than minimum required.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1088733

XXXXXXX-2023-NQM4-626

Closed

FCOM8804

2023-08-01 10:30

2023-08-04 09:23

Resolved

1 - Information

Compliance

Missing Doc

Missing Loan program disclosure

Resolved-now fully executed - Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded. Please, find the document attached. Thank you! - Seller-08/04/2023

Open-page 252 [redacted] Home Equity Cert in closing package not signed and notarized - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. Please, find the document attached. Thank you! - Seller-08/04/2023

Resolved-now fully executed - Due Diligence Vendor-08/04/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1080915

XXXXXXX-2023-NQM4-626

Closed

FCRE1198

2023-08-01 11:12

2023-08-02 12:30

Resolved

1 - Information

Credit

Eligibility

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

Resolved-new guidelines allow for cash out for reserves - Due Diligence Vendor-08/02/2023

Ready for Review-Please, find the LOE from the borrower merged with the [redacted]_[redacted].pdf, p.205. The cash-out proceeds were used for reserves. Thank you! - Seller-08/02/2023

Open-Audited Reserves of month(s) are less than Guideline Required Reserves of 3 month(s) no assets listed on 1003 or in file for reserves. no exception in file either. - Due Diligence Vendor-08/01/2023

Ready for Review-Please, find the LOE from the borrower merged with the [redacted]_[redacted].pdf, p.205. The cash-out proceeds were used for reserves. Thank you! - Seller-08/02/2023

Resolved-new guidelines allow for cash out for reserves - Due Diligence Vendor-08/02/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1080994

XXXXXXX-2023-NQM4-627

Closed

FCRE9991

2023-08-01 15:15

2023-08-10 09:06

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-updated tape now present. - Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. see attached - Seller-08/10/2023

Open-DSCR calc varies from originator score of 1.063. TPR calculated score of 1.52 is supported by 1007 $4300 currently rented (pg 10) and PITI $2819.98. - Due Diligence Vendor-08/01/2023

Ready for Review-Document Uploaded. see attached - Seller-08/10/2023

Resolved-updated tape now present. - Due Diligence Vendor-08/10/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1081739

XXXXXXX-2023-NQM4-628

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-629

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-630

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-631

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-632

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-633

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-634

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-635

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-636

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-637

Closed

FCRE1166

2023-08-02 09:57

2023-08-08 11:57

Resolved

1 - Information

Credit

Insurance

Hazard Insurance Coverage is less than all Subject Lien(s)

Resolved-Received update Dec page - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. Document Uploaded. Document Uploaded. Document Uploaded.  - Seller-08/07/2023

Ready for Review-Document Uploaded. Please see attached from the insurance agent for the RCE info.  - Seller-08/07/2023

Open-Hazard Insurance Coverage Amount of $355000 is less than Total Amount of Subject Lien(s) of $697500.0  - Total Estimated cost New per appraisal $604,000.  No cost estimator provided.  - Due Diligence Vendor-08/02/2023

Ready for Review-Document Uploaded. Document Uploaded. Document Uploaded. Document Uploaded. - Seller-08/07/2023

Ready for Review-Document Uploaded. Please see attached from the insurance agent for the RCE info. - Seller-08/07/2023

Resolved-Received update Dec page - Due Diligence Vendor-08/08/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

1083503

XXXXXXX-2023-NQM4-637

Closed

FVAL5524

2023-08-02 10:10

Waived

2 - Non-Material

Property

Ineligible Property

Waived-Lender granted exception for gross living area for 4th unit < 500 square feet. All units must be 500 sq ft or greater. There is no kitchen in the 4th unit.

see page 599
- Due Diligence Vendor-08/02/2023

Experienced investor with 2+ investment properties, 5 years on current job, No mortgage late payments in last 24 months, 5+ years credit history, Reserves>6 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1083547

XXXXXXX-2023-NQM4-637

Closed

FCRE9806

2023-08-02 10:09

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Lender granted exception for recent loan modification to [redacted] in May 2023.

see page 598 - Due Diligence Vendor-08/02/2023

Experienced investor with 2+ investment properties, No mortgage late payments in last 24 months, 5+ years credit history, reserves>6 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1083546

XXXXXXX-2023-NQM4-638

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-639

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-640

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-641

Closed

FCRE1198

2023-08-03 12:57

2023-08-09 11:16

Resolved

1 - Information

Credit

Eligibility

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

Resolved-assets updated with proof of receipt of gift. - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. please see attached - Seller-08/08/2023

Open-Audited Reserves of month(s) are less than Guideline Required Reserves of 3 month(s) Not enough assets in file, no proof of deposit of gift on page 46. Also not shown on CD. Didnt give credit for the 34k gift as no proof donor transferred or proof of receipt. - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. please see attached - Seller-08/08/2023

Resolved-assets updated with proof of receipt of gift. - Due Diligence Vendor-08/09/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1086569

XXXXXXX-2023-NQM4-641

Closed

FCRE1182

2023-08-03 12:57

2023-08-09 11:15

Resolved

1 - Information

Credit

Missing Doc

Approval/Underwriting Summary Not Provided

Resolved-approval received - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. see attached - Seller-08/08/2023

Open-Missing Approval/Underwriting Summary - Due Diligence Vendor-08/03/2023

Ready for Review-Document Uploaded. see attached - Seller-08/08/2023

Resolved-approval received - Due Diligence Vendor-08/09/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1086568

XXXXXXX-2023-NQM4-641

Closed

FCRE1174

2023-08-03 12:59

Waived

2 - Non-Material

Credit

Missing Doc

Master Condo Insurance Policy is Partial

Waived-Exception on page 674

Approved Exception Required for :- 1) Master Policy has no Coverage for Law OR Ordinance. 2) All Deductible must be Maximum 5% (Currently Name storm 10% in Master Policy). 3) Master Insurance Policy will be renewed with same Terms and Conditions

Approved with conditions +0.375 to the rate, post-closing condition: renewed policy must be provided within 30 days after closing - Due Diligence Vendor-08/03/2023

DTI >=10% lower than loan program, No mortgage late payments in last 24 months, 5+ years credit history

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1086578

XXXXXXX-2023-NQM4-642

Closed

FCRE7347

2023-08-04 10:46

2023-08-10 10:02

Resolved

1 - Information

Credit

Missing Doc

Missing Lease Agreement

Resolved-agreed.  first property no rents used.  2 property, 1007 provided. - Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. [redacted] - No rental income is used for the qualification. Full PITI is used as rental loss.  For property: [redacted] 11413 - This is another property was purchased by the borrower simultaneously with the subject loan. Hence, the rental income is used from the form 1007.
- Seller-08/09/2023

Open- - missing leases for [redacted]  - Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded.[redacted]- No rental income is used for the qualification. Full PITI is used as rental loss. For property: [redacted] - This is another property was purchased by the borrower simultaneously with the subject loan. Hence, the rental income is used from the form 1007.
- Seller-08/09/2023

Resolved-agreed. first property no rents used. 2 property, 1007 provided. - Due Diligence Vendor-08/10/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1088737

XXXXXXX-2023-NQM4-643

Closed

FCRE8800

2023-08-07 09:21

2023-08-09 11:18

Resolved

1 - Information

Credit

Eligibility

Compensating Factors are insufficient to approve Exception Waiver

Resolved-updated comp factors given - Due Diligence Vendor-08/09/2023

Ready for Review-To be more detailed DSCR is 1.3026 .Calculations are $1,100.00/$844.44=1.3026.Compensating factors are valid :No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months - Seller-08/08/2023

Open-Exception form:pg#782 - Loan amount <100k
Requirement : DSCR >1.3 however loan DSCR is equal to 1.30. Please confirm if this is okay to proceed. - Due Diligence Vendor-08/07/2023

Ready for Review-To be more detailed DSCR is 1.3026 .Calculations are $1,100.00/$844.44=1.3026.Compensating factors are valid :No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months - Seller-08/08/2023

Resolved-updated comp factors given - Due Diligence Vendor-08/09/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments
in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

N/A

1092596

XXXXXXX-2023-NQM4-643

Closed

FVAL2242

2023-08-04 13:54

Waived

2 - Non-Material

Property

Property is Manufactured Housing

Waived-Exception Type:- Material: Appraisal
Short Description: - Rural Manufactured Home
Property is a Manufactured home with residential zoning R-25A but appraisal has the rural box checked. Need exception for manufactured housing with appraisal showing rural area.
Exception Page# 781
- Due Diligence Vendor-08/04/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments
in last 48 months, Other: specify below Area of Property is zoned as R-25A which is residential

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1089421

XXXXXXX-2023-NQM4-643

Closed

FCRE1200

2023-08-04 13:49

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception Type:- Material: Loan Amount
Short Description : Loan Amount Under $100K Minimum

Exception Page# 782 - Due Diligence Vendor-08/04/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late paymentsin last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1089400

XXXXXXX-2023-NQM4-644

Closed

FCRE6843

2023-08-04 14:42

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Lender granted exception for Gift funds towards reserves for WVOE program.

see page 775 - Due Diligence Vendor-08/04/2023

5 years on current job, Residual income >=$3000, No credit events past 48 months, No consumer late payments in last 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1089624

XXXXXXX-2023-NQM4-645

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-646

Closed

FCOM3605

2023-08-07 11:12

2023-08-14 10:29

Resolved

1 - Information

Compliance

TRID

TRID: CD not delivered at least 3 days prior to consummation

Resolved-proof of delivery received - Due Diligence Vendor-08/14/2023

Ready for Review-Document Uploaded. eSign Certificate provided - Seller-08/11/2023

Open-Provide evidence that CD issued on 7/25/2023 was sent electronically to borrower. - Due Diligence Vendor-08/07/2023

Ready for Review-Document Uploaded. eSign Certificate provided - Seller-08/11/2023

Resolved-proof of delivery received - Due Diligence Vendor-08/14/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

N/A

1093010

XXXXXXX-2023-NQM4-647

Closed

FCRE1440

2023-08-04 15:56

2023-08-04 17:07

Waived

2 - Non-Material

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Waived-Housing History Does Not Meet Guideline Requirements Exception Type :- Material: DSCR<1 ineligible for LTV/FICO
Short Description :- DSCR UNDER 1 AND 1X30 ON MORTGAGE IN LAST 12 MONTHS [redacted]
Comments :- FIRST LOAN WITH THIS BORROWER CLOSED RECENTLY THIS IS AN INVESTOR WHO WE WILL GET 5- 10 LOANS A YEAR WITH
Exception form available on page no 551 - Due Diligence Vendor-08/04/2023

Experienced investor with 2+ investment properties, Revolving debt is under 30%, Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1089828

XXXXXXX-2023-NQM4-647

Closed

FCRE1194

2023-08-04 17:07

Waived

2 - Non-Material

Credit

Eligibility

Audited LTV Exceeds Guideline LTV

Waived-Exception Type :- Material: DSCR<1 ineligible for LTV/FICO
Short Description :- DSCR UNDER 1 AND 1X30 ON MORTGAGE IN LAST 12 MONTHS [redacted]
Comments :- FIRST LOAN WITH THIS BORROWER CLOSED RECENTLY THIS IS AN INVESTOR WHO WE WILL GET 5- 10 LOANS A YEAR WITH
Exception form available on page no 551 - Due Diligence Vendor-08/04/2023

Experienced investor with 2+ investment properties, Revolving debt is under 30%, Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1089926

XXXXXXX-2023-NQM4-648

Closed

FCRE1159

2023-08-04 13:39

2023-08-14 10:31

Resolved

1 - Information

Credit

Insurance

Hazard Insurance Effective Date is after the Note Date

Resolved-dates of ins updated - Due Diligence Vendor-08/14/2023

Ready for Review-Document Uploaded. Hello! Please find attached. Thank you! - Seller-08/11/2023

Open-Hazard Insurance Effective Date of 08-08-2023 is after the Note Date of 07-31-2023 - loan disbursed 8/1/2023 - Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded. Hello! Please find attached. Thank you! - Seller-08/11/2023

Resolved-dates of ins updated - Due Diligence Vendor-08/14/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1089363

XXXXXXX-2023-NQM4-649

Closed

FCRE6843

2023-08-02 15:54

2023-08-03 15:24

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-EMD was minimal and lender backed out. - Due Diligence Vendor-08/03/2023

Open-missing proof $2000 EMD cleared borrower account and need escrow deposit letter - Due Diligence Vendor-08/02/2023

Resolved-EMD was minimal and lender backed out. - Due Diligence Vendor-08/03/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1084637

XXXXXXX-2023-NQM4-649

Closed

FVAL5524

2023-08-02 15:53

Waived

2 - Non-Material

Property

Ineligible Property

Waived-Property is zoned RA. Property is not rural. Walmart, Doctor, Gas, all within 3 miles. Property is also in a
technology zone for jobs.
Comments Property is in a subdivision between two major [redacted] highways. - Due Diligence Vendor-08/02/2023

LTV 10% below maximum, Borrower contribution exceeds requirement >=5%, 5+ years credit history, No consumer late payments in
last 48 months, Other: specify below Property is within 20 minutes of University of TN. Appraisal states highest and best use is "residential". Property not USDA eligible =
not rural.
page 17

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1084635

XXXXXXX-2023-NQM4-649

Closed

FCRE1197

2023-08-02 15:50

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 661 is less than Guideline FICO of 680 Need exception for manufactured home purchase with 660 credit score.
Comments Switched brokers. Brought file with me. Had exception. - Due Diligence Vendor-08/02/2023

LTV 10% below maximum, Borrower contribution exceeds requirement >=5%, No credit events past 48 months, 5+ years credit
history, Reserves>6 months (ineligible for Foreign Nationals)
page 16

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1084622

XXXXXXX-2023-NQM4-650

Closed

FVAL2477

2023-08-07 16:57

2023-08-11 07:52

Resolved

1 - Information

Property

Appraisal

Appraisal incomplete (missing map, layout, pages, etc.)

Resolved-Document Uploaded. Underwriter provided document clears findingt - Due Diligence Vendor-08/11/2023

Counter-page 510 shows initial sale price is[redacted]. need proof of all improvements. see original finding - Due Diligence Vendor-08/10/2023

Ready for Review-Please, find the Final CD indicating the initial purchase price of[redacted] merged with complete credit pkg, pp. 510-515. The total amount of improvements is $10,273.51, pp. 491-493. Thank you! - Seller-08/10/2023

Open-Please provide proof for the improvements.
> Total Prior Purchase price is [redacted]and LTV is calculated using [redacted]
> Improvement Proof received : pg#491 with invoices for[redacted]+pg#494 for $1,960 + pg#502 for $465.17 + pg#506 for$2,100 = $14,798.68
Note: Please provide proof for the remaining amount $29,449.32 - Due Diligence Vendor-08/07/2023

Ready for Review-Please, find the Final CD indicating the initial purchase price of [redacted] merged with complete credit pkg, pp. 510-515. The total amount of improvements is $10,273.51, pp. 491-493. Thank you! - Seller-08/10/2023

Resolved-Document Uploaded. Underwriter provided document clears findingt - Due Diligence Vendor-08/11/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

N/A

1094364

XXXXXXX-2023-NQM4-651

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-652

Closed

FCOM5814

2023-08-07 11:36

2023-08-15 10:29

Resolved

1 - Information

Compliance

TRID

TRID: Closing Disclosure Deficiency

Resolved-clear copy received - Due Diligence Vendor-08/15/2023

Ready for Review-Document Uploaded. Hello, please find attached. Thank you! - Seller-08/15/2023

Open-Page 2 of CD dated 07/28/2023 is not legible. Please provide clearer copy. - Due Diligence Vendor-08/07/2023

Ready for Review-Document Uploaded. Hello, please find attached. Thank you! - Seller-08/15/2023

Resolved-clear copy received - Due Diligence Vendor-08/15/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1093100

XXXXXXX-2023-NQM4-652

Closed

FCOM3605

2023-08-07 11:38

2023-08-14 08:43

Resolved

1 - Information

Compliance

TRID

TRID: CD not delivered at least 3 days prior to consummation

Resolved-received proof electronic delivery  - Due Diligence Vendor-08/14/2023

Ready for Review-Document Uploaded. Hello! Please find attached. Thank you! - Seller-08/11/2023

Counter-this is not proof the initial CD on 7/25 was sent.  this is the initial app package with LE, we do not need this. - Due Diligence Vendor-08/11/2023

Ready for Review-Document Uploaded. Hello, here is a proof that initial CD was sent electronically to borrower. Thank you!  - Seller-08/10/2023

Open-Provide evidence that initial CD issued on 07/25/2023 was sent electronically to borrower.
- Due Diligence Vendor-08/07/2023

Ready for Review-Document Uploaded. Hello! Please find attached. Thank you! - Seller-08/11/2023

Ready for Review-Document Uploaded. Hello, here is a proof that initial CD was sent electronically to borrower. Thank you! - Seller-08/10/2023

Resolved-received proof electronic delivery - Due Diligence Vendor-08/14/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1093108

XXXXXXX-2023-NQM4-652

Closed

FCRE1174

2023-08-07 08:45

Waived

2 - Non-Material

Credit

Missing Doc

Master Condo Insurance Policy is Partial

Waived-Exception on page 301

Approved exception to proceed with 10% wind deductible. wind deductible more than 5% on master insurance please provide approved exception

Approved with conditions +0.25 to the rate
- Due Diligence Vendor-08/07/2023

10 years or more in same line of employment, No credit events past 48 months, 2+ borrowers on the loan

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1092428

XXXXXXX-2023-NQM4-653

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-654

Closed

FCRE1193

2023-08-07 08:29

2023-08-10 11:51

Waived

2 - Non-Material

Credit

Eligibility

Audited DTI Exceeds Guideline DTI

Waived-Audited DTI of 52.24% exceeds Guideline DTI of 50% allow DTI 52.116, max. 50 as per matrix for investment
Comments Hello Team, it's an investment loan, our max. DTI as per matrix is 50%. Client DTI is 52.116%, please allow us
to go with a higher DTI. We’ll adjust loan amount to be [redacted] as it's new construction. - Due Diligence Vendor-08/07/2023

Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit
history, Credit score >40 points than minimum required, Borrower contribution exceeds requirement >=5%
page 730

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1092371

XXXXXXX-2023-NQM4-654

Closed

FCRE8611

2023-08-07 08:30

Waived

2 - Non-Material

Credit

Income/Employment

Income/Employment General

Waived-1120S negative liquidity ratio
Comments Hello Team! Borrower has 1120S Business. 1120S business doesn't meet liquidity ratio for 2022. liquidity ratio
for 2022 is negative. Please kindly consider approving the exception to use ordinary income for 1120S
Business - Due Diligence Vendor-08/07/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1092384

XXXXXXX-2023-NQM4-655

Closed

FCRE1440

2023-08-08 08:22

2023-08-11 09:48

Resolved

1 - Information

Credit

Eligibility

Housing History Does Not Meet Guideline Requirements

Resolved-lender is comfortable with bus account statement to verify paid by business. - Due Diligence Vendor-08/11/2023

Ready for Review-Document Uploaded. Property is an investment paid by business ,please see uploaded docs confirming property is paid by business. No mtg history is required. - Seller-08/10/2023

Open-Housing History Does Not Meet Guideline Requirements Missing mortgage history with [redacted] - [redacted] - $3,750 monthly. - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. Property is an investment paid by business ,please see uploaded docs confirming property is paid by business. No mtg history is required. - Seller-08/10/2023

Resolved-lender is comfortable with bus account statement to verify paid by business. - Due Diligence Vendor-08/11/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

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

N/A

1095859

XXXXXXX-2023-NQM4-656

Closed

FCRE9068

2023-08-04 11:30

Waived

2 - Non-Material

Credit

Eligibility

Borrower does not meet residual income requirement

Waived-Exception on page 808

residual income not meeting minimum of 2,000 ($1,594)
After calculations it seems it does meet requirements.

Approved with conditions : +0.5 to price, max 50% DTI - Due Diligence Vendor-08/04/2023

Waived-Exception on page 808

[redacted] not meeting minimum of [redacted]
After calculations it seems it does meet requirements.

Approved with conditions : +0.5 to price, max 50% DTI - Due Diligence Vendor-08/04/2023

10 years or more in same line of employment, No credit events past 48 months, 5+ years credit history, No consumer late payments
in last 48 months, LTV 10% below maximum, Credit score >40 points than minimum required

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1088864

XXXXXXX-2023-NQM4-657

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-658

Closed

FCRE1319

2023-08-05 08:07

2023-08-16 09:38

Resolved

1 - Information

Credit

Missing Doc

Borrower 1 Personal Tax Returns Missing

Resolved-2 yrs returns present - Due Diligence Vendor-08/16/2023

Ready for Review-Document Uploaded. Please see Tax documentation in attachment - Seller-08/15/2023

Open-Only 1st two pages are present of 2021/22 1040s- IRS Transcripts present and 1120S returns. Please provide all pages to Bwrs' 1040s for 2021 and 2022. - Due Diligence Vendor-08/05/2023

Ready for Review-Document Uploaded. Please see Tax documentation in attachment - Seller-08/15/2023

Resolved-2 yrs returns present - Due Diligence Vendor-08/16/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Second Home

Purchase

N/A

1090280

XXXXXXX-2023-NQM4-659

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-660

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-661

Closed

FCRE1200

2023-08-07 08:53

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Lender granted exception for loan amount

See page 1 - Due Diligence Vendor-08/07/2023

DSCR=> 1.3 , No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1092467

XXXXXXX-2023-NQM4-662

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-663

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-664

Closed

FVAL9739

2023-08-07 15:58

2023-08-18 07:55

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-The size of the subject property must be not less than 500 square feet of living space, and in this property living
area is 376 square feet. - Due Diligence Vendor-08/18/2023

Ready for Review-Document Uploaded. Please, find the exception on the subject property area attached. Thank you! - Seller-08/18/2023

Open-As per Guide The size of the subject property must be not less than 500 square feet of living space, and in this property living area is 376 square feet.
Note : Appraisal Refer page # 21 - Due Diligence Vendor-08/07/2023

Ready for Review-Document Uploaded. Please, find the exception on the subject property area attached. Thank you! - Seller-08/18/2023

Waived-The size of the subject property must be not less than 500 square feet of living space, and in this property living
area is 376 square feet. - Due Diligence Vendor-08/18/2023

Compensating Factors
Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late
payments in last 48 months, Reserves>6 months

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Post-Close

Yes

1094196

XXXXXXX-2023-NQM4-664

Closed

FCRE1174

2023-08-07 15:53

Waived

2 - Non-Material

Credit

Missing Doc

Master Condo Insurance Policy is Partial

Waived-Exception Type:- Material: Insurance
Short Description:- Master policy no named storm/ deductible > 5%
For master policy, wind coverage + Ordinance & law deductible is 10%. Named storm coverage is excluded, low DTI 31.29%, good credit 760, no credit events, requesting to proceed please. Thank you
Exception page#560 - Due Diligence Vendor-08/07/2023

No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months, 2+
borrowers on the loan

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1094164

XXXXXXX-2023-NQM4-665

Closed

FCRE6763

2023-08-08 16:43

2023-08-08 16:45

Waived

2 - Non-Material

Credit

Income/Employment

Income documentation does not meet guidelines

Waived-Type: NSF/Overdraft
Description : 12 NSFs and flip Transaction less than 30 days
Comments : Hello Credit committee, this exception is for 12 NSFS and flip transaction less than 30 days from date of contract signed. see attached appraisal and signed contract along with avm that supports.
Exception form : pg.#357

- Due Diligence Vendor-08/08/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1097545

XXXXXXX-2023-NQM4-665

Closed

FVAL4036

2023-08-08 16:44

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Type: Material: NSF/overdrafts
Description : 12 NSFs and flip Transaction less than 30 days
Comment :- Hello Credit committee, this exception is for 12 NSFS and flip transaction less than 30 days from date of contract signed. see attached appraisal and signed contract along with avm that supports.
*Exception form : pg.#357 - Due Diligence Vendor-08/08/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1097546

XXXXXXX-2023-NQM4-666

Closed

FVAL9739

2023-08-07 14:41

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception on page 28

Looking for exception on the classification of rural property. The property has an ADU. The zoning is considered agricultural residential but this area is very common in having 1-2 acre homes which is common just outside of [redacted] and it's not eligible for USDA. looking for exception to not have to use the classification as rural and not have to have the add on and no needing an exception for having the ADU. The broker is looking to send elsewhere if needed and has pricing from UWM that doesn't have a hit for rural property (pricing uploaded). Excellent credit borrowers and great property.

Approved with conditions of going with rural pricing, max CLTV 80 - Due Diligence Vendor-08/07/2023

Residual income >=$3000, No credit events past 48 months, Borrower contribution exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1093908

XXXXXXX-2023-NQM4-666

Closed

FVAL4036

2023-08-07 14:39

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Exception on page 27

Looking to get an exception to use the current sales price on a flip property. the seller purchased the proper on 9/2022 for[redacted] and now selling at $[redacted] which will be over 10 months when this loan closes. The increase is less than 20% (around only 10%) and the appraised value is even more at[redacted]which gives even more equity. using our new guides we would not need an exception but since this was locked we need it. We have an excellent credit borrower with own funds.

Approved as is - Due Diligence Vendor-08/07/2023

Waived-Exception on page 27

Looking to get an exception to use the current sales price on a flip property. the seller purchased the proper on [redacted] for [redacted] and now selling at [redacted] which will be over 10 months when this loan closes. The increase is less than 20% (around only 10%) and the appraised value is even more at [redacted] which gives even more equity. using our new guides we would not need an exception but since this was locked we need it. We have an excellent credit borrower with own funds.

Approved as is - Due Diligence Vendor-08/07/2023

Residual income >=$3000, No credit events past 48 months, Credit score >40 points than minimum required, Borrower contribution
exceeds requirement >=5%

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1093900

XXXXXXX-2023-NQM4-667

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-668

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-669

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-670

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-671

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-672

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-673

Closed

FCRE9991

2023-08-08 12:42

2023-08-14 09:14

Resolved

1 - Information

Credit

Data

Data Discrepancy - Tape Data is Different than Original Loan Approval Document Data

Resolved-tape updated - Due Diligence Vendor-08/14/2023

Ready for Review-Document Uploaded. See attached - Seller-08/11/2023

Open-DSCR calculation varies from originator score of 1.37 where as calculated score of 1.52 is supported by [redacted] [redacted] - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. See attached - Seller-08/11/2023

Resolved-tape updated - Due Diligence Vendor-08/14/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1096728

XXXXXXX-2023-NQM4-674

Closed

FCRE8800

2023-08-09 16:39

2023-08-14 08:51

Resolved

1 - Information

Credit

Eligibility

Compensating Factors are insufficient to approve Exception Waiver

Resolved-corrected comp factors provided - Due Diligence Vendor-08/14/2023

Ready for Review-Document Uploaded. Document Uploaded.  - Seller-08/11/2023

Ready for Review-Document Uploaded.  - Seller-08/11/2023

Open- Compensating factor for Reserves>6 months is not meeting. Total reserves in file provided is :  3.07
- Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-08/11/2023

Ready for Review-Document Uploaded. - Seller-08/11/2023

Resolved-corrected comp factors provided - Due Diligence Vendor-08/14/2023

Revolving debt is under 30%, Borrower contribution exceeds requirement >=5%, Reserves>6 months

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1100007

XXXXXXX-2023-NQM4-674

Closed

FCRE1195

2023-08-08 16:25

2023-08-14 08:51

Waived

2 - Non-Material

Credit

Eligibility

Audited CLTV Exceeds Guideline CLTV

Waived-Audited CLTV of [redacted] exceeds Guideline CLTV of [redacted] Exception Type:-Material: LTV
Short Description :-Requesting [redacted]LTV
Competing against Jet Mortgage for this file. We currently have 6 files with this partner
Exception page#882 - Due Diligence Vendor-08/08/2023

Revolving debt under 30%, borrower contribution exceeds requirement >=5%, 5 yrs credit history, residual income > $3000

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1097510

XXXXXXX-2023-NQM4-675

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-676

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-677

Closed

FCRE8611

2023-08-08 14:18

2023-08-18 07:45

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-Lender file was submitted using 24 months on a 25 month P/L. They recalculated. DTI changed by a little over 1% due to revised income coming in on a finding. P/L was dated 25 months, but they used an 24 month calc. the recalc'd income to 25 months, but still qualifies. Income went from $30609 to $29384 - Due Diligence Vendor-08/18/2023

Ready for Review-Document Uploaded. Sr UW was told by QC we are okay with 25 months P&L as long as we calculate it as 25 months, not 24 months. Please see the income worksheet that supports a 24-month calculation was done. - Seller-08/17/2023

Open-Need corrected Profit and Loss statement. Dates of P/L are wrong. date range is 25 months, but income calculated on 24 months. (page 308) - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. Sr UW was told by QC we are okay with 25 months P&L as long as we calculate it as 25 months, not 24 months. Please see the income worksheet that supports a 24-month calculation was done. - Seller-08/17/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1097151

XXXXXXX-2023-NQM4-677

Closed

FCRE6843

2023-08-08 14:17

2023-08-18 07:37

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-lender provided the wire withdrawal and it shows going to title company. was not in original file. - Due Diligence Vendor-08/18/2023

Ready for Review-Document Uploaded. UW response provided - Seller-08/17/2023

Open-missing earnest money wire. see $74k wire out of account but doesnt say who it went to - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. UW response provided - Seller-08/17/2023

Resolved-lender provided the wire withdrawal and it shows going to title company. was not in original file. - Due Diligence Vendor-08/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1097135

XXXXXXX-2023-NQM4-678

Closed

FCOM1266

2023-08-04 06:48

2023-08-09 11:35

Resolved

1 - Information

Compliance

Missing Doc

Homeownership Counseling Disclosure Is Missing

Resolved-Homeownership Counseling Disclosure Is Present or Not Applicable - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Please see the Initial Disclosure Package attached - Seller-08/08/2023

Open-Homeownership Counseling Disclosure Is Missing No initial disclosures in file - Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded. Please see the Initial Disclosure Package attached - Seller-08/08/2023

Resolved-Homeownership Counseling Disclosure Is Present or Not Applicable - Due Diligence Vendor-08/09/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1088020

XXXXXXX-2023-NQM4-678

Closed

FCOM1231

2023-08-04 06:51

2023-08-09 11:33

Resolved

1 - Information

Compliance

Missing Doc

The Initial 1003 is Missing

Resolved-The Initial 1003 is Present or Not Applicable (The 1003 Page Occupancy status is 'Investment'). - Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. Please see the Initial Disclosure Package (including initial 1003) attached - Seller-08/08/2023

Open-The Initial 1003 is Missing and the 1003 Page Occupancy Status is 'Primary Residence'. Missing initial 1003 and initial disclosure package - Per [redacted] page 385 -original application date was 04/03/2023 - please provide original initial disclosure package - Due Diligence Vendor-08/04/2023

Ready for Review-Document Uploaded. Please see the Initial Disclosure Package (including initial 1003) attached - Seller-08/08/2023

Resolved-The Initial 1003 is Present or Not Applicable (The 1003 Page Occupancy status is 'Investment'). - Due Diligence Vendor-08/09/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1088029

XXXXXXX-2023-NQM4-679

Closed

FCOM9175

2023-08-09 11:01

2023-08-16 09:43

Resolved

1 - Information

Compliance

TRID

TRID: Closing Disclosure not received by the borrower 3 days prior to consummation

Resolved-proof sent - Due Diligence Vendor-08/16/2023

Ready for Review-Document Uploaded. hello! please find attached document. thank you - Seller-08/15/2023

Open-Provide evidence that revised CD issued on 07/27/2023 was sent electronically to the borrower.
- Due Diligence Vendor-08/09/2023

Ready for Review-Document Uploaded. hello! please find attached document. thank you - Seller-08/15/2023

Resolved-proof sent - Due Diligence Vendor-08/16/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1099089

XXXXXXX-2023-NQM4-679

Closed

FCOM4028

2023-08-09 08:06

2023-08-16 09:42

Resolved

1 - Information

Credit

Missing Doc

Missing evidence Mortgage/Deed of Trust will be recorded

Resolved-Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-08/16/2023

Resolved-Missing evidence of Mortgage recording Creditor- File was closed within last 60 days. Mortgage was sent for recording and Final Title Policy will be provided upon the receipt. Finding is resolved. - Due Diligence Vendor-08/09/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1098640

XXXXXXX-2023-NQM4-679

Closed

FPRO116

2023-08-09 09:11

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Page 544- Master Wind policy deductible is 10%. GL = 5%. Approved. - Due Diligence Vendor-08/09/2023

Revolving debt under 30%, DTI > 10% below programmaximum, No credit events past 48 months, No mortgage late pays last24 months, No Consumer lates payments last 48 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1098798

XXXXXXX-2023-NQM4-680

Closed

FVAL9739

2023-08-09 15:55

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type :- Material: Condo questionnaire
Short Description :- Single entity owns 20.83% 5 out of 24 GL states 20% , over by less than 1%
Comments :- this is a 3 Pack [redacted] all 3 loans are similar issue. Please approve this with no hit
Exception form available on page no 714 - Due Diligence Vendor-08/09/2023

Waived-Exception Type :- Material: Condo questionnaire
Short Description :- Single entity owns 20.83% 5 out of 24 GL states 20% , over by less than 1%
Comments :- this is a 3 Pack [redacted]all 3 loans are similar issue. Please approve this with no hit
Exception form available on page no 714 - Due Diligence Vendor-08/09/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1099946

XXXXXXX-2023-NQM4-680

Closed

FCRE1200

2023-08-09 15:53

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Exception Type :- Material: Loan Amount
Short Description :- lower the LA to $[redacted][redacted] LTV
Comments :- Please lower the LA with NO hit TYSM
Exception form available on page no 713
- Due Diligence Vendor-08/09/2023

Waived-Exception Type :- Material: Loan Amount
Short Description :- lower the LA to [redacted] [redacted] LTV
Comments :- Please lower the LA with NO hit TYSM
Exception form available on page no 713
- Due Diligence Vendor-08/09/2023

DSCR=> 1.3 , Experienced investor with 2+ investment properties, No credit events past 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1099942

XXXXXXX-2023-NQM4-681

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-682

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-683

Closed

FCRE1200

2023-08-10 08:13

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of $[redacted]is less than the Guideline Minimum Loan Amount of $100000 Exception Type:-Material: Loan Amount
Short Description :-Requesting to go below $100k LA minimum
Requesting $[redacted] LA for this property. Borrower is solid with good credit and history. Experienced investor, solid reserves. Thank you for your consideration.
Exception Page# 843 - Due Diligence Vendor-08/10/2023

Waived-Audited Loan Amount of $[redacted] is less than the Guideline Minimum Loan Amount of $100000 Exception Type:-Material: Loan Amount
Short Description :-Requesting to go below $100k LA minimum
Requesting $[redacted] LA for this property. Borrower is solid with good credit and history. Experienced investor, solid reserves. Thank you for your consideration.
Exception Page# 843 - Due Diligence Vendor-08/10/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No mortgage late payments in last 24 months,5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1101201

XXXXXXX-2023-NQM4-684

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-685

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-686

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-687

Closed

FCRE1480

2023-08-10 09:32

2023-08-21 07:51

Resolved

1 - Information

Credit

Assets

Asset 2 Does Not Meet Guideline Requirements

Resolved-July statement now present. - Due Diligence Vendor-08/21/2023

Ready for Review-Document Uploaded. Please find attached - Seller-08/18/2023

Open-Asset Record 2 Does Not Meet G/L Requirements[redacted] till 06/30/2023 transaction available. Directly have statement for 07/25/2023. Statement/Transaction details from 07/01/2023 to 07/24/2023 pages are missing.
* Note: EMD deduction proof is from this same account and pages are missing. (Dated 07/03/2023 mentioned as per the receipt available on pg#144) Per guide withdrawal proof is mandate and need to verify the same. - Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. Please find attached - Seller-08/18/2023

Resolved-July statement now present. - Due Diligence Vendor-08/21/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1101413

XXXXXXX-2023-NQM4-688

Closed

FVAL4036

2023-08-09 11:55

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Page 62 - Property was recently inherited by current seller - 01/23 -docs in file. - Due Diligence Vendor-08/09/2023

DTI below 45%, Residual income > $3000, no credit events past 48 months, No mortgage lates last 24 months, No consumer late payments last 48 months.Credit score > 40 points above program minimum.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1099230

XXXXXXX-2023-NQM4-689

Closed

50001251

2023-08-08 14:22

2023-08-17 13:16

Resolved

1 - Information

Compliance

TRID Tolerance

Charges That Cannot Increase Test

Resolved-COC clears finding - Due Diligence Vendor-08/17/2023

Resolved-Resolved - Due Diligence Vendor-08/17/2023

Ready for Review-Document Uploaded. Hello! Please find attached! Thank you. - Seller-08/16/2023

Open-The following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4)). Points - Loan Discount Fee increased from $7,363.13 initial CD dated 07/06/2023 (pg #71) to $7,898.63 revised CD dated 7/31/2023. (pg #64). COC missing in file. - Due Diligence Vendor-08/08/2023

Ready for Review-Document Uploaded. Hello! Please find attached! Thank you. - Seller-08/16/2023

Resolved-COC clears finding - Due Diligence Vendor-08/17/2023

Resolved-Resolved - Due Diligence Vendor-08/17/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1097169

XXXXXXX-2023-NQM4-689

Closed

50001252

2023-08-08 14:22

2023-08-17 13:15

Resolved

1 - Information

Compliance

Mavent

Insufficent Change of Circumstance

Resolved-Resolved - Due Diligence Vendor-08/17/2023

Ready for Review-Hello! COC was sent! Thank you. - Seller-08/16/2023

Open-The amounts disclosed on the last Closing Disclosure for the following fee(s) have either increased above the amount disclosed within each fee(s) baseline disclosure OR have been added to the last Closing Disclosure and placed within the Cannot Increase Category: Points - Loan Discount Fee. Each fee within the Cannot Increase category cannot increase or be added unless a new disclosure is provided and there is a valid changed circumstance associated with the increased fee that is re-disclosed, or the creditor provides an additional credit for the increase in Closing Costs above the legal limit. (12 CFR 1026.19(e)(3); 12 CFR 1026.19(e)(4); 12 CFR 1026.19(f)(2)(v)). Points - Loan Discount Fee increased from $7,363.13 initial CD dated 07/06/2023 (pg #71) to $7,898.63 revised CD dated 7/31/2023. (pg #64). COC missing in file. - Due Diligence Vendor-08/08/2023

Ready for Review-Hello! COC was sent! Thank you. - Seller-08/16/2023

Resolved-Resolved - Due Diligence Vendor-08/17/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1097170

XXXXXXX-2023-NQM4-690

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-691

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-692

Closed

FVAL4940

2023-08-07 10:23

Waived

2 - Non-Material

Property

Missing Doc

Missing Homeowner's Association Questionnaire

Waived-Lender granted exception for The answer to item 7 (questions 1-6) in the questionnaire was not provided.

see page 193 - Due Diligence Vendor-08/07/2023

Residual income >=$3000, No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1092859

XXXXXXX-2023-NQM4-692

Closed

FVAL9739

2023-08-07 10:22

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Lender granted exception for HOA is suing builder for construction deficiencies

see page 192 - Due Diligence Vendor-08/07/2023

Residual income >=$3000, No credit events past 48 months, No mortgage late payments in last 24 months, No consumer late payments in last 48 months

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1092858

XXXXXXX-2023-NQM4-693

Closed

FCRE8611

2023-08-10 12:57

2023-08-21 13:40

Resolved

1 - Information

Credit

Income/Employment

Income/Employment General

Resolved-P&L dated - Due Diligence Vendor-08/21/2023

Ready for Review-Document Uploaded. Kindly see the attached. Thank you. - Seller-08/21/2023

Open-P&L statement for 2022 and 2023 needs to be dated. Page # 287, 288 - Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. Kindly see the attached. Thank you. - Seller-08/21/2023

Resolved-P&L dated - Due Diligence Vendor-08/21/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1101993

XXXXXXX-2023-NQM4-694

Closed

FCOM3605

2023-08-10 10:21

2023-08-16 09:45

Resolved

1 - Information

Compliance

TRID

TRID: CD not delivered at least 3 days prior to consummation

Resolved-CD issued on 7/21/23 was sent electronically to borrower present - Due Diligence Vendor-08/16/2023

Ready for Review-Document Uploaded. Please see evidence that CD issued on 7/21/23 was sent electronically to borrower in attachment - Seller-08/15/2023

Open-Provide evidence that CD issued on 7/21/23 was sent electronically to borrower. - Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. Please see evidence that CD issued on 7/21/23 was sent electronically to borrower in attachment - Seller-08/15/2023

Resolved-CD issued on 7/21/23 was sent electronically to borrower present - Due Diligence Vendor-08/16/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

No Cash Out - Borrower Initiated

N/A

1101527

XXXXXXX-2023-NQM4-695

Closed

FCRE8459

2023-08-11 13:35

2023-08-17 13:17

Resolved

1 - Information

Credit

Eligibility

Borrower Entity Ownership does not meet guidelines

Resolved-Received signed document - Due Diligence Vendor-08/17/2023

Ready for Review-Document Uploaded. Please see corporate resolution in attachment - Seller-08/17/2023

Open-Corporate Resolution document on page#230 is unsigned by all the 3 members - Due Diligence Vendor-08/11/2023

Ready for Review-Document Uploaded. Please see corporate resolution in attachment - Seller-08/17/2023

Resolved-Received signed document - Due Diligence Vendor-08/17/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1104406

XXXXXXX-2023-NQM4-696

Closed

FCRE1212

2023-08-10 12:25

2023-08-17 13:18

Resolved

1 - Information

Credit

Missing Doc

Purchase Contract is Partial

Resolved-Received sales contract - Due Diligence Vendor-08/17/2023

Ready for Review-Document Uploaded. Please find attached - Seller-08/16/2023

Open-Purchase contract has not been fully provided Seller signature missing on Purchase contract page no 157, and purchase contract rider page no 161 & 162 of 162. - Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. Please find attached - Seller-08/16/2023

Resolved-Received sales contract - Due Diligence Vendor-08/17/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1101897

XXXXXXX-2023-NQM4-697

Closed

FCRE6763

2023-08-10 09:47

2023-08-10 10:27

Waived

2 - Non-Material

Credit

Income/Employment

Income documentation does not meet guidelines

Waived-Exception to Bank Statement program page 15. Program requires single account for 12 consecutive months. Bwr changed accounts in 12/2022. Hence, 08/22-12/22 or 4 months) statements are [redacted] and 01-07/23 statements, remaining 8 months, are [redacted]. [redacted] account still open per advice of CPA until end of tax year. - Due Diligence Vendor-08/10/2023

No credit events past 48 months, 5+ yrs credit history, No consumer lates last 48 months.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1101463

XXXXXXX-2023-NQM4-698

Closed

FPRO1242

2023-08-10 06:56

2023-08-15 10:38

Resolved

1 - Information

Property

Missing Doc

Appraisal is Missing

Resolved-inherited not a flip- lender clarified - Due Diligence Vendor-08/15/2023

Ready for Review-Please rescind since it is not a Flip. The exception was uploaded my mistake. Second appraisal is not required. Thank you! - Seller-08/15/2023

Open-Loan is HPML (See page 252) and per guidelines and reg Z per FLIP exception approval requirements, a second appraisal is required. need second appraisal - Due Diligence Vendor-08/10/2023

Ready for Review-Please rescind since it is not a Flip. The exception was uploaded my mistake. Second appraisal is not required. Thank you! - Seller-08/15/2023

Resolved-inherited not a flip- lender clarified - Due Diligence Vendor-08/15/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1100985

XXXXXXX-2023-NQM4-698

Closed

FCRE1493

2023-08-10 06:54

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-The borrower has recently closed plenty of accounts, thus we do not
have open and active tradelines. - Due Diligence Vendor-08/10/2023

Compensating Factors
No credit events past 48 months, No consumer late payments in last 48 months, LTV 10% below maximum, Borrower contribution
exceeds requirement >=5%
page 65

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1100981

XXXXXXX-2023-NQM4-699

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-700

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-701

Closed

FCRE1481

2023-08-10 17:23

2023-08-15 11:00

Resolved

1 - Information

Credit

Assets

Asset 3 Does Not Meet Guideline Requirements

Resolved-these are gifts - Due Diligence Vendor-08/15/2023

Ready for Review-Document Uploaded. See attached - Seller-08/14/2023

Open-Asset Record 3 Does Not Meet G/L Requirements Please provide LOX/Source for the Large deposit found on the acc#8665 (verify pg.790 & 794)
1) $25,000 dated 06/02/2023 and 06/15/2023
2) $15,000 dated 07/11/2023 - Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. See attached - Seller-08/14/2023

Resolved-these are gifts - Due Diligence Vendor-08/15/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1102444

XXXXXXX-2023-NQM4-702

Closed

FCRE1437

2023-08-10 13:29

2023-08-15 11:30

Resolved

1 - Information

Credit

Income/Employment

Income and Employment Do Not Meet Guidelines

Resolved-updated income using 50% expense - Due Diligence Vendor-08/15/2023

Ready for Review-Document Uploaded. Please find attached updated Income Calculations. DTI changed to 6%. It was corrected on 1008, Approval Letter and Tape - Seller-08/15/2023

Open-Income and Employment Do Not Meet Guidelines Lender didnt use 50% expense ratio, 20% was used. Need accountant letter to verify expenses are 20%. Or redo DTI using 50%. loan will qualify - Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. Please find attached updated Income Calculations. DTI changed to 6%. It was corrected on 1008, Approval Letter and Tape - Seller-08/15/2023

Resolved-updated income using 50% expense - Due Diligence Vendor-08/15/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1102078

XXXXXXX-2023-NQM4-703

Closed

FCOM1229

2023-08-10 12:02

2023-08-17 13:19

Resolved

1 - Information

Compliance

Missing Doc

1-4 Family Rider is Missing

Resolved-Received rider - Due Diligence Vendor-08/17/2023

Ready for Review-Document Uploaded. Hello! 1-4 Family Rider is not required. The 1-4 Family Rider usually goes hand in hand when the loan is closing as an Investment, but this one is Owner Occupied. Thank you!

- Seller-08/16/2023

Open-1-4 Family Rider is Missing 2 unit- rider missing - Due Diligence Vendor-08/10/2023

Ready for Review-Document Uploaded. Hello! 1-4 Family Rider is not required. The 1-4 Family Rider usually goes hand in hand when the loan is closing as an Investment, but this one is Owner Occupied. Thank you!

- Seller-08/16/2023

Resolved-Received rider - Due Diligence Vendor-08/17/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1101810

XXXXXXX-2023-NQM4-704

Closed

FCOM1221

2023-08-11 08:28

2023-08-16 10:12

Resolved

1 - Information

Compliance

Missing Doc

The Deed of Trust is Incomplete

Resolved-date completed - Due Diligence Vendor-08/16/2023

Ready for Review-Document Uploaded. Please, find attached the updated Notary page. Thank you! - Seller-08/15/2023

Open-Notary date is missing on provide deed of trust Page # 219 of 532 - Due Diligence Vendor-08/11/2023

Ready for Review-Document Uploaded. Please, find attached the updated Notary page. Thank you! - Seller-08/15/2023

Resolved-date completed - Due Diligence Vendor-08/16/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1103588

XXXXXXX-2023-NQM4-705

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-706

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-707

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-708

Closed

FCRE0360

2023-08-11 12:01

2023-08-21 13:37

Resolved

1 - Information

Credit

Borrower

Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete

Resolved-received missing months for VOM - Due Diligence Vendor-08/21/2023

Ready for Review-Document Uploaded. Please find attached. Thank you! - Seller-08/21/2023

Open-Verification of Rent (VOR)/Verification of Mortgage (VOM) Document is incomplete. missing March 2023 and June2023 payments for [redacted] property for VOM history - Due Diligence Vendor-08/11/2023

Ready for Review-Document Uploaded. Please find attached. Thank you! - Seller-08/21/2023

Resolved-received missing months for VOM - Due Diligence Vendor-08/21/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1104183

XXXXXXX-2023-NQM4-709

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-710

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-711

Closed

FVAL9739

2023-08-09 08:38

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Appraisal is 60 days old - Due Diligence Vendor-08/09/2023

Experienced investor with 2+ investment properties, No credit events past 48 months, No consumer late payments in last 48 months
Borrower has excellent credit and is an experienced investor
Credit Decision
Status Approved with
conditions
Conditions: +0.25 to the price, must be not older than 120 on closing
page 887

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1098712

XXXXXXX-2023-NQM4-712

Closed

FCRE1491

2023-08-11 09:19

2023-08-17 13:27

Resolved

1 - Information

Credit

Assets

Asset Qualification Does Not Meet Guideline Requirements

Resolved-Updated 401K statement received - Due Diligence Vendor-08/17/2023

Ready for Review-Document Uploaded. PLease see attached - Seller-08/16/2023

Open-Asset Qualification Does Not Meet Guideline Requirements - Principle Life Ins 401K has expired. Statement is dated 1/1/2023-03/31/2023. - Due Diligence Vendor-08/11/2023

Ready for Review-Document Uploaded. PLease see attached - Seller-08/16/2023

Resolved-Updated 401K statement received - Due Diligence Vendor-08/17/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1103743

XXXXXXX-2023-NQM4-713

Closed

FVAL5474

2023-08-11 09:31

Waived

2 - Non-Material

Property

Condo project is ineligible

Waived-Master policy hurricane coverage deductible exceeds 5%. - Due Diligence Vendor-08/11/2023

DTI >=10% lower than loan program, No mortgage late payments in last 24 months, 5+ years credit history
page 6/101

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1103772

XXXXXXX-2023-NQM4-714

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-715

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-716

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-717

Closed

FVAL5524

2023-08-11 10:33

Waived

2 - Non-Material

Property

Ineligible Property

Waived-Lender granted exception for Gross living area < 500 square feet

see page 516 - Due Diligence Vendor-08/11/2023

No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1103980

XXXXXXX-2023-NQM4-717

Closed

FCRE1200

2023-08-11 10:31

2023-08-11 10:32

Waived

2 - Non-Material

Credit

Eligibility

Audited Loan Amount is less than Guideline Minimum Loan Amount

Waived-Audited Loan Amount of [redacted] is less than the Guideline Minimum Loan Amount of $100000 Lender granted exception for Loan amount.

See page 512 - Due Diligence Vendor-08/11/2023

DSCR=> 1.3 , No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1103974

XXXXXXX-2023-NQM4-718

Closed

FPRO116

2023-08-13 08:23

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-Page 519 Exception to Master Wind insurance deductible at 10% - GL is 5%. - Due Diligence Vendor-08/13/2023

Residual Income > $3K, No credit events past 48 months, No mortgage lates last 24 months, , No consumer lates last 48 months,Credit score > 40 points above program minimum.

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1105741

XXXXXXX-2023-NQM4-719

Closed

FCRE6843

2023-08-14 06:22

2023-08-17 13:29

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-Proof of gift uploaded - Due Diligence Vendor-08/17/2023

Ready for Review-Document Uploaded. See attached - Seller-08/16/2023

Open-page 138 is a copy of $30k check to title that was cashed. It appears was a gift but not showing on CD. Please clarify what this was and provide a gift letter if needed - Due Diligence Vendor-08/14/2023

Ready for Review-Document Uploaded. See attached - Seller-08/16/2023

Resolved-Proof of gift uploaded - Due Diligence Vendor-08/17/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1106579

XXXXXXX-2023-NQM4-719

Closed

FCRE1493

2023-08-14 06:22

2023-08-17 13:29

Resolved

1 - Information

Credit

Eligibility

Trade line count does not meet program requirements

Resolved-Supplemental cr uploaded clears finding - Due Diligence Vendor-08/17/2023

Ready for Review-Document Uploaded. see attached - Seller-08/16/2023

Open-only has 1 trade line opened in last 12 months. Others closed as of 2018 - Due Diligence Vendor-08/14/2023

Ready for Review-Document Uploaded. see attached - Seller-08/16/2023

Resolved-Supplemental cr uploaded clears finding - Due Diligence Vendor-08/17/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1106580

XXXXXXX-2023-NQM4-720

Closed

FCRE1480

2023-08-12 15:31

2023-08-17 13:30

Resolved

1 - Information

Credit

Assets

Asset 2 Does Not Meet Guideline Requirements

Resolved-Proof of large deposit received - Due Diligence Vendor-08/17/2023

Ready for Review-Document Uploaded. this is the source of large deposit - Seller-08/16/2023

Open-Asset Record 2 Does Not Meet G/L Requirements Large deposit in [redacted], Borrower has provided lox for large deposit. page 155. Also need source document.
07/21/2023 $32,600.00
- Due Diligence Vendor-08/12/2023

Ready for Review-Document Uploaded. this is the source of large deposit - Seller-08/16/2023

Resolved-Proof of large deposit received - Due Diligence Vendor-08/17/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1105497

XXXXXXX-2023-NQM4-721

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-722

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-723

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-724

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-725

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-726

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-727

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-728

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-729

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-730

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-731

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-732

Closed

FCOM1159

2023-08-14 13:52

2023-08-16 10:16

Resolved

1 - Information

Compliance

TRID

TRID: Loan Estimate not received by the borrower at least 4 days prior to consummation

Resolved-received 07/28/2023 was sent electronically - Due Diligence Vendor-08/16/2023

Ready for Review-Document Uploaded. Hello! Please find attached. Thank you..! - Seller-08/16/2023

Open-Provide evidence that Revised Loan Estimate issues on 07/28/2023 was sent electronically - Due Diligence Vendor-08/14/2023

Ready for Review-Document Uploaded. Hello! Please find attached. Thank you..! - Seller-08/16/2023

Resolved-received 07/28/2023 was sent electronically - Due Diligence Vendor-08/16/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

N/A

1108079

XXXXXXX-2023-NQM4-733

Closed

FCOM1221

2023-08-15 06:31

2023-08-18 07:54

Resolved

1 - Information

Compliance

Missing Doc

The Deed of Trust is Incomplete

Resolved-now present - Due Diligence Vendor-08/18/2023

Ready for Review-Document Uploaded. Please review uploaded mortgage with notary date - Seller-08/17/2023

Open-The Deed of Trust is Incomplete notary page is missing date - Due Diligence Vendor-08/15/2023

Ready for Review-Document Uploaded. Please review uploaded mortgage with notary date - Seller-08/17/2023

Resolved-now present - Due Diligence Vendor-08/18/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1109134

XXXXXXX-2023-NQM4-734

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-735

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-736

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-737

Closed

FCRE6843

2023-08-15 06:15

2023-08-17 13:32

Resolved

1 - Information

Credit

Assets

Asset General

Resolved-Explanation received clears finding  - Due Diligence Vendor-08/17/2023

Ready for Review-There are two wires on the first and the second pages of "[redacted] _Signed closing pkg". First of them consist $120,00 of gift. The second has amount $74,438.60 which consist of  $71,438.60 cash to close and $2, 000 gift funds. - Seller-08/17/2023

Open-Gift letter and CD show gift of $122000 but gift wire transfer is only for $120000.  Need proof donor gave other $2000.00 of gift.  - Due Diligence Vendor-08/15/2023

Ready for Review-There are two wires on the first and the second pages of "[redacted] _Signed closing pkg". First of them consist $120,00 of gift. The second has amount $74,438.60 which consist of $71,438.60 cash to close and $2, 000 gift funds. - Seller-08/17/2023

Resolved-Explanation received clears finding - Due Diligence Vendor-08/17/2023

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1109116

XXXXXXX-2023-NQM4-738

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-739

Closed

FCRE8459

2023-08-16 13:32

2023-08-18 07:53

Resolved

1 - Information

Credit

Eligibility

Borrower Entity Ownership does not meet guidelines

Resolved-article of org in file and K1 to show ownership now present - Due Diligence Vendor-08/18/2023

Ready for Review-Document Uploaded. The attached schedule K1 confirms that borrower owns 100%. Per our UW, other documents like articles of incorporation or operating agreement doesn’t have to say “sole owner” in the state of [redacted] - Seller-08/17/2023

Open-Please provide one of these mentioned documents. Provided document does not read the ownership % either.
* Articles of Incorporation and proof of ownership or
• Operating Agreement with Ownership Breakdown or Addendum - Due Diligence Vendor-08/16/2023

Ready for Review-Document Uploaded. The attached schedule K1 confirms that borrower owns 100%. Per our UW, other documents like articles of incorporation or operating agreement doesn’t have to say “sole owner” in the state of [redacted] - Seller-08/17/2023

Resolved-article of org in file and K1 to show ownership now present - Due Diligence Vendor-08/18/2023

[redacted]

ATR/QM: Exempt

[redacted]

Investment

Purchase

N/A

1112570

XXXXXXX-2023-NQM4-740

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-741

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-742

Closed

1001121-1003175

2023-08-15 14:45

2023-08-17 09:32

Resolved

1 - Information

Compliance

Tolerance:Disclosure

Federal - Closing Disclosure Total of Payments Disclosure Tolerance

Resolved-Document Uploaded. received corrected CD From closing. - Due Diligence Vendor-08/17/2023

Resolved-Resolved - Due Diligence Vendor-08/17/2023

Ready for Review-Document Uploaded. Somehow the wrong final CD was signed and uploaded, apologies, it was a misunderstanding with the Title. Please see attached the correct CD along with the compliance report. - Seller-08/17/2023

Open-The disclosed Total of Payments ($1,300,867.04) is understated by more than $100 when compared to the actual Total of Payments ($1,301,057.04). The difference is ($190.00). Regulation Z considers the disclosed Total of Payments inaccurate if it understated by more than $100. (12 CFR 1026.38(o)(1)) The Compliance report in PDF dated 8/9 for lender did not add in the final $190 for the second inspection. please add and rerun - Due Diligence Vendor-08/15/2023

Ready for Review-Document Uploaded. Somehow the wrong final CD was signed and uploaded, apologies, it was a misunderstanding with the Title. Please see attached the correct CD along with the compliance report. - Seller-08/17/2023

Resolved-Document Uploaded. received corrected CD From closing. - Due Diligence Vendor-08/17/2023

Resolved-Resolved - Due Diligence Vendor-08/17/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1110757

XXXXXXX-2023-NQM4-743

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-744

Closed

FCRE1174

2023-08-15 17:05

Waived

2 - Non-Material

Credit

Missing Doc

Master Condo Insurance Policy is Partial

Waived-Acceptance of current HO6 policy Deductible amounts.
Comments Please consider this exception approval with no hit to rate due to borrower not being able to control deductible
amount for insurance.
- Due Diligence Vendor-08/15/2023

Compensating Factors
Several income sources and DTI below 45%, Revolving debt is under 30%, 5 years on current job, Residual income >=$3000, DTI
>=10% lower than loan program, No credit events past 48 months, No mortgage late payments in last 24 months, 5+ years credit
history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Borrower contribution
exceeds requirement >=5%, Reserves>6 months, Other: specify below
Over $1million in assets.
page 680

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1111030

XXXXXXX-2023-NQM4-745

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-746

Closed

FCRE9802

2023-08-15 16:16

Waived

2 - Non-Material

Credit

Eligibility

Borrower is First Time Homebuyer and Program Does Not Allow This

Waived-Borrower cannot be first time homebuyer for this program Exception Type : Material: Borrower's assets
Short Description: 1st time homeowner applies for DSCR

Exception page# 291 - Due Diligence Vendor-08/15/2023

LTV 10% below maximum, Borrower contribution exceeds requirement >=5%, Revolving debt is under 30%, No credit events past 48 months, 5+ years credit history, No consumer late payments in last 48 months, Credit score >40 points than minimum required, Reserves>6 months (ineligible for Foreign Nationals)

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1110967

XXXXXXX-2023-NQM4-747

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-748

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-749

Closed

FCRE6843

2023-08-15 11:21

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception on page 209

Approved exception form required for the following: Negative daily balance(s) in all 12 months of bank Statement Program account

Approved with conditions +0.5 to the rate, max CLTV 75 - Due Diligence Vendor-08/15/2023

Revolving debt is under 30%, DTI >=10% lower than loan program, No credit events past 48 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1110135

XXXXXXX-2023-NQM4-749

Closed

FCRE1174

2023-08-15 11:19

Waived

2 - Non-Material

Credit

Missing Doc

Master Condo Insurance Policy is Partial

Waived-Exception on page 208

Master policy with Windstorm & Hail coverage - maximum up to 5% (provided in the policy is 10% mentioned ) . Provide exception for the same

Approved with conditions +0.25 to the rate - Due Diligence Vendor-08/15/2023

DTI >=10% lower than loan program, 10 years or more in same line of employment, No mortgage late payments in last 24 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1110132

XXXXXXX-2023-NQM4-750

ATR/QM: Exempt

[redacted]

Investment

Refinance

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

XXXXXXX-2023-NQM4-751

Closed

FCRE1493

2023-08-16 10:00

Waived

2 - Non-Material

Credit

Eligibility

Trade line count does not meet program requirements

Waived-Exception Type :- Material: Credit
Short Description :- tradelines exception
Comments :- Hello Team! The borrower does not meet standard tradelines requirement and is unable to provide alternative tradelines. Excellent credit profile. Please approve. Thank you!
Exception form available on page no 76 - Due Diligence Vendor-08/16/2023

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1112015

XXXXXXX-2023-NQM4-752

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-753

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-754

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-755

Closed

FCRE6843

2023-08-16 09:26

Waived

2 - Non-Material

Credit

Assets

Asset General

Waived-Exception found on page 609

Approved exception form required for the following: greater than 3 NSFs/overdrafts/negative balances in last 12 months (7 total). Also requesting [redacted] for PUD in FL.

Approved with conditions +0.5 to the rate for NSFs anf [redacted] LTV - Due Diligence Vendor-08/16/2023

Revolving debt is under 30%, DTI >=10% lower than loan program, No mortgage late payments in last 24 months, Borrower
contribution exceeds requirement >=5%, Reserves>6 months

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1111932

XXXXXXX-2023-NQM4-756

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-757

Closed

FCOM4227

2023-08-17 11:48

2023-08-18 07:56

Resolved

1 - Information

Compliance

Missing Doc

TRID: Missing Closing Disclosure

Resolved-received proof of electronic delivery - Due Diligence Vendor-08/18/2023

Ready for Review-Document Uploaded. Please, find the proof of sent attached. Thank you! - Seller-08/18/2023

Open-Provide evidence that Revised Closing Disclosure issues on 08/08/2023 was sent electronically - Due Diligence Vendor-08/17/2023

Ready for Review-Document Uploaded. Please, find the proof of sent attached. Thank you! - Seller-08/18/2023

Resolved-received proof of electronic delivery - Due Diligence Vendor-08/18/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1114285

XXXXXXX-2023-NQM4-757

Closed

FCRE2515

2023-08-17 10:44

Waived

2 - Non-Material

Credit

Eligibility

Credit history does not meet guidelines

Waived-Page 556 - Non Perm Borrowers with ITIN Credit Report -No SSN - No Fico . ITIN in file. - Due Diligence Vendor-08/17/2023

DTI > 10% below program maximum, No credit events pst 48 months, 2+ borrowers on loan, Bwr contribution exceeds 5%.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1114078

XXXXXXX-2023-NQM4-758

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-759

Closed

FVAL4036

2023-08-17 10:28

Waived

2 - Non-Material

Property

Flip or Rapid Resale of Property

Waived-Exception Type :- Material: Appraisal
Short Description :- Property is a flip, Can we accept a 2nd appraisal and use lower value of the two
Comments :- 2nd appraisal to be accepted to verify value
Exception form available on page no 747 - Due Diligence Vendor-08/17/2023

DTI >=10% lower than loan program, 10 years or more in same line of employment, No credit events past 48 months, No mortgage late payments in last 24 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1114048

XXXXXXX-2023-NQM4-760

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

XXXXXXX-2023-NQM4-761

ATR/QM: Exempt

[redacted]

Investment

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-762

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

XXXXXXX-2023-NQM4-763

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-764

Closed

FVAL9739

2023-08-17 17:13

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Exception Type:-Material: Appraisal
Short Description:-Transferred appraisal that is (1) over 60 days old and (2) dated prior to a FEMA flood disaster
Appraisal with full interior and exterior property inspection and SSRs to support this loan request. SFR/PUD: 1004. Investment add Form 1007 - Rent Comparable Schedule ** Provide new [redacted] appraisal OR Provide approved exception to use transferred appraisal that is (1) over 60 days old and (2) dated prior to a FEMA flood disaster
Exception Page#840 - Due Diligence Vendor-08/17/2023

Experienced investor with 2+ investment properties, No mortgage late payments in last 24 months, Credit score >40 points than minimum required

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1115213

XXXXXXX-2023-NQM4-765

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-766

Closed

FCOM3605

2023-08-18 09:47

2023-08-21 13:35

Resolved

1 - Information

Compliance

TRID

TRID: CD not delivered at least 3 days prior to consummation

Resolved-recvd electronic proof - Due Diligence Vendor-08/21/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-08/21/2023

Open-Provide evidence that Initial CD issued on 08/07/2023 was sent electronically to the borrower. - Due Diligence Vendor-08/18/2023

Ready for Review-Document Uploaded. Document Uploaded. - Seller-08/21/2023

Resolved-recvd electronic proof - Due Diligence Vendor-08/21/2023

[redacted]

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

N/A

1116525

XXXXXXX-2023-NQM4-767

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-768

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-769

Closed

FCRE1197

2023-08-18 10:36

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 663 is less than Guideline FICO of 680 Page 231 - Exception to rural property minimum fico score of 680. Subject is suburban but is zoned agricultural - rural. - Due Diligence Vendor-08/18/2023

No credit event past 48 months, No mortgage lates last 24 months, 5+ yrs credit history.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Purchase

Originator Pre-Close

Yes

1116640

XXXXXXX-2023-NQM4-770

Closed

FCRE1441

2023-08-17 17:29

Waived

2 - Non-Material

Credit

Eligibility

Delinquent Credit History Does Not Meet Guideline Requirements

Waived-Exception Type :Material: Credit score
Short Description: 2 mortgage late payments for DSCR
Comments :
Hi! The borrower was paying off the mortgage, and he thought the mortgage was closed. However, there were 2 payments that came up. That caused to 2 late payments. Asking for approval to proceed. Please, advise. Thank you!

Exception form : 36 of 99
- Due Diligence Vendor-08/17/2023

LTV 10% below maximum, No credit events past 48 months, 5+ years credit history

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1115235

XXXXXXX-2023-NQM4-771

ATR/QM: Exempt

[redacted]

Investment

Purchase

XXXXXXX-2023-NQM4-772

Closed

FPRO116

2023-08-21 09:24

Waived

2 - Non-Material

Property

Other Property/Value Finding

Waived-listed for sale and not being delisted during submission - Due Diligence Vendor-08/21/2023

Compensating Factors
Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months
page 634

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1119131

XXXXXXX-2023-NQM4-772

Closed

FCRE9806

2023-08-21 09:23

Waived

2 - Non-Material

Credit

Eligibility

Other Credit Finding

Waived-Waiver for STR in [redacted] - Due Diligence Vendor-08/21/2023

Compensating Factors
Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months
page 633

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1119125

XXXXXXX-2023-NQM4-772

Closed

FCRE1197

2023-08-21 09:22

Waived

2 - Non-Material

Credit

Eligibility

Audited FICO is less than Guideline FICO

Waived-Audited FICO of 678 is less than Guideline FICO of 680 Hi Team, we need the exception on credit for this borrower. The score is 673 (while we need 680 for rural).
- Due Diligence Vendor-08/21/2023

Compensating Factors
Revolving debt is under 30%, No credit events past 48 months, No mortgage late payments in last 24 months
page 632

ATR/QM: Exempt

[redacted]

Investment

Refinance

No Cash Out - Borrower Initiated

Originator Pre-Close

Yes

1119116

XXXXXXX-2023-NQM4-773

Closed

FVAL9739

2023-08-21 09:09

Waived

2 - Non-Material

Property

Appraisal

Property/Appraisal General

Waived-Lender Granted Exception for less than 2 closed comparable sales outside of subject project development

See page 620 - Due Diligence Vendor-08/21/2023

LTV 10% below maximum, No credit events past 48 months, No mortgage late payments in last 24 months

ATR/QM: Exempt

[redacted]

Investment

Purchase

Originator Pre-Close

Yes

1119082

XXXXXXX-2023-NQM4-774

Closed

FCRE1254

2023-08-21 07:32

Waived

2 - Non-Material

Credit

Title

Property Title Issue

Waived-Property Title Issue Exception page 1 - DOT lien but not mtg - private lien made by sister in 2007 for 195K. Ok to payoff. - Due Diligence Vendor-08/21/2023

Waived-Property Title Issue Exception page 1 - DOT lien but not mtg - private lien made by sister in 2007 [redacted]. Ok to payoff. - Due Diligence Vendor-08/21/2023

DTI>10% lower than program maximum, NO credit events past 48 months, 5+ yr credit history.

Non-QM: Lender documented all ATR UW factors

[redacted]

Primary Residence

Refinance

Cash Out - Other

Originator Pre-Close

Yes

1118758