GCAT 2025-NQM4 Trust ABS- 15G

 Exhibit 99.3

Exception Grades

SitusAMC Loan ID

Loan ID

Customer Loan ID

Seller Loan ID

Investor Loan Number

Loan Exception ID

Exception ID

Exception Date

Exception Type

Exception Category

Exception Subcategory

15E Category

Exception

Exception Detail

Exception Information

Compensating Factors

Compensating Factor Information

Applying Party

Follow-up Comments

Cleared Date

Cured Date

Waived Date

Exception Level Grade

DBRS Initial Exception Rating

DBRS Final Exception Rating

Fitch Initial Exception Rating

Fitch Final Exception Rating

Kroll Initial Exception Rating

Kroll Final Exception Rating

Moody's Initial Exception Rating

Moody's Final Exception Rating

S&P Initial Exception Rating

S&P Final Exception Rating

Note Date

Property State

Occupancy

Purpose

Exception Remediation

Overall Initial Loan Grade

Overall Final Loan Grade

Credit Initial Loan Grade

Credit Final Loan Grade

Compliance Initial Loan Grade

Compliance Final Loan Grade

Property Initial Loan Grade

Property Final Loan Grade

Originator QM ATR Status

TPR QM ATR Status

Is Curable

583015727

32066442

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Escrow Payment Under Disclosed Test

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redacted] disclosed an escrow payment for payment stream 1 that does not match the actual payment for the loan.

Reviewer Comment (2024-08-06): [Redacted] received [Redacted] Final CD Reviewer Comment (2024-07-25): Close date for loan is [Redacted] per Notary and signing date.  Initial CD is dated [Redacted].  [Redacted] is also considered final CD.  Provide any closing CD for review if available. Seller Comment (2024-07-24): Comment from [Redacted] ([Redacted]): Please see attached final CD

08/06/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, and Corrected CD

C

B

C

B

C

A

A

A

Exempt from ATR

Exempt from ATR

Yes

583015727

32066443

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure No Seller Paid Fees Primary Residence First Lien

TRID Final Closing Disclosure[REDACTED]on a first lien purchase transaction did not disclose any Seller paid fees/charges on page 2. (Points and Fees testing limited to Borrower paid fees.)

File is missing a copy of the Seller CD.

Reviewer Comment (2024-07-25): [Redacted] received Seller CD. Seller Comment (2024-07-24): Comment from [Redacted] ([Redacted]): Please see seller CD

07/25/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

C

B

C

A

A

A

Exempt from ATR

Exempt from ATR

Yes

583015727

32066444

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Will Have Escrow -  Monthly Escrow Payment Underdisclosed Test

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on [Redacted] disclosed the Monthly Escrow Payment that does not match the actual escrow payment for the loan.

HOA per [Redacted]$[Redacted]/annually.  Lenders utilized $[Redacted]/annually.

Reviewer Comment (2024-08-06): [Redacted] received [Redacted] Final CD Seller Comment (2024-08-05): Comment from [Redacted] ([Redacted]): Please seeattached Final CD from [Redacted] Reviewer Comment (2024-07-25): Close date for loan is [Redacted] per Notary and signing date. Initial CD is dated [Redacted]. [Redacted] is also considered final CD. Provide any closing CD for review if available. Seller Comment (2024-07-24): Comment from [Redacted] ([Redacted]): Please see attached final CD

08/06/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

Provide the following: Letter of Explanation notifying borrower or error and Corrected CD

C

B

C

B

C

A

A

A

Exempt from ATR

Exempt from ATR

Yes

583015727

32066445

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Reviewer Comment (2024-07-29): PDI provided. Cleared.

07/29/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

B

C

B

C

A

A

A

Exempt from ATR

Exempt from ATR

No

583015727

32066447

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy Effective Date is after closing.

Hazard Insurance Policy Effective Date ___, Disbursement Date: ___

Consummation date [Redacted], HOI Effective Date[Redacted]. Wet State.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than X years.

SitusAMC SitusAMC SitusAMC

Reviewer Comment (2024-08-13): LOE of no claims filed between not signing and effective date. Seller Comment (2024-08-13): Comment from [Redacted] ([Redacted]): Please see attached email from HOI showing no claims. Reviewer Comment (2024-07-25): A purchase would require the note signing. Without an attestation that there was no damage between the note signing and the date of the coverage occurred. Buyer Comment (2024-07-25): Comment from [Redacted] ([Redacted]): Sign and close date was [Redacted], disbursement date was [Redacted], HOI was valid at time of disbursement

08/13/2024

2

C

B

C

B

C

B

C

B

C

B

TX

Primary

Purchase

C

B

C

B

C

A

A

A

Exempt from ATR

Exempt from ATR

No

583015727

32066448

Credit

Hazard Insurance

Document Error

Hazard Insurance

Hazard Insurance policy does not list Lender or Servicer and its successors and assigns, per guideline requirements.

[Redacted] language is missing from the policy.

Reviewer Comment (2024-07-26): Received, Clearing. Seller Comment (2024-07-26): Comment from [Redacted] ([Redacted]): Please see attached,

07/26/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

B

C

B

C

A

A

A

Exempt from ATR

Exempt from ATR

No

583015727

32066449

Compliance

Compliance

Federal Compliance

TRID

TRID Seller Closing Disclosure Contains Fees not reflected on Consumer's Final Closing Disclosure

TILA-RESPA Integrated Disclosure: the Seller's final CD contained fees not reflected on the consumer's CD.

Seller fees do not match borrower final CD.

Reviewer Comment (2024-08-06): [Redacted] received[Redacted] Final CD

08/06/2024

1

A

A

A

A

A

TX

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

C

B

C

A

A

A

Exempt from ATR

Exempt from ATR

Yes

578176888

33134953

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure No Seller Paid Fees Primary Residence First Lien

TRID Final Closing Disclosure [Redacted] on a first lien purchase transaction did not disclose any Seller paid fees/charges on page 2.

Seller paid fees on the seller's closing disclosure are not consistent with those on the borrower's final closing disclosure.

Reviewer Comment (2025-04-04): [Redacted]received seller CD Seller Comment (2025-04-02): [Redacted]- Uploaded Executed Seller CD showing seller paid fees and final cash to close calculations.  Please review and clear exception.

04/04/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

B

B

C

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

Yes

578176888

33135343

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception to allow Schedule E and 1040 transcripts in lieu of 1040 tax returns for rental income. Approval in file.

The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than X years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted].

[Redacted] FICO

SitusAMC,Aggregator SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2025-03-31): The client elects to waive.

03/31/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Purchase

C

B

B

B

C

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

578176888

33135361

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception to allow borrower provided IRS transcripts for co-borrower. Lender approval provided.

The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than X years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted].

[Redacted] FICO

SitusAMC,Aggregator SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2025-03-31): The client elects to waive.

03/31/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Purchase

C

B

B

B

C

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

550462140

33142546

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception to waive hazard and property tax escrows. Lender approval in file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months.

[Redacted] months reserves.

Originator,SitusAMC

Reviewer Comment (2025-04-01): Lender exception in file.

04/01/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

551810685

33154237

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception to omit the new lease from the borrower's DTI. Lender approval in file.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

$[Redacted] residual income [Redacted] months reserves LTV/CLTV is [Redacted]% below guideline max. LTV/CLTV is [Redacted]% below guideline max. Fico is [Redacted] points above guideline minimum.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-02): Lender exception in file.

04/02/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Investment

Purchase

B

B

B

B

A

A

A

A

N/A

No

555349278

33177753

Credit

Credit

Credit Calculation / Analysis

Credit

Guideline Issue:  Insufficient tradelines per credit guidelines

Lender exception for insufficent tradelines. Approval in file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

[Redacted] months reserves Fico is [Redacted] points above guideline minimum.

Originator,SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-03): Lender exception in file.

04/03/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Investment

Purchase

B

B

B

B

A

A

N/A

No

556367788

33177676

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception to use 3 business bank accounts for sources of income. Approval in file.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than X years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

$[Redacted] residual income. [Redacted] months reserves Fico is [Redacted] points above guideline minimum.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-04): Lender exception in file

04/04/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Purchase

B

B

B

B

A

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

539715807

33177068

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-02): Sufficient Cure Provided At Closing

04/02/2025

1

A

A

A

A

A

A

A

A

A

A

NJ

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

Yes

522258549

33194350

Credit

Credit

Credit Calculation / Analysis

Guideline

Guideline Requirement: Representative FICO score discrepancy.

Representative FICO score of ___ is less than Guideline representative FICO score of ___.

Minimum credit score for FTHB is [Redacted], lender exception in file.

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

$[Redacted] residual income. [Redacted] months reserves. LTV/CLTV is [Redacted]% below guideline max. LTV/CLTV is [Redacted]% below guideline max.

Originator,SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-07): Lender exception in file.

04/07/2025

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

522258549

33204007

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

FTHB using asset depletion, lender exception in file.

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

$[Redacted] residual income. [Redacted] months reserves. LTV/CLTV is [Redacted]% below guideline max. LTV/CLTV is [Redacted]% below guideline max.

Originator,SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-07): Lender exception in file.

04/07/2025

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

555011177

33183162

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

Copy of Hazard Insurance Policy is not available in file.

Reviewer Comment (2025-04-01): Received and associated Hazard Insurance Policy document. Exception Cleared. Buyer Comment (2025-03-31): attached Buyer Comment (2025-03-31): HOI

04/01/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

591203022

33244630

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

-

2 months bank statements required when  being used for asset utilization.

Reviewer Comment (2025-04-18): Received and associated 2 months bank statements from [Redacted] #[Redacted]. Exception cleared. Seller Comment (2025-04-16): Attached [Redacted][Redacted] Checking Account ending in [Redacted].

04/18/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

A

C

A

A

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

578661855

33243243

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception approved for using bank statements from a [Redacted] company.

Borrower has verified disposable income of at least $[Redacted]. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

DTI is [Redacted]% below guideline max. Fico is [Redacted] points above guideline minimum.

SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-11): Lender exception in file.

04/11/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Purchase

B

B

B

B

A

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

532378003

33220651

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

The file is missing a copy of the secondary valuation required for securitization Purposes.

Reviewer Comment (2025-03-31): Received and associated UCDP report with CU Score#[Redacted] Exception Cleared. Buyer Comment (2025-03-28): Fannie SSR score [Redacted]

03/31/2025

1

D

A

D

A

D

A

D

A

D

A

GA

Investment

Purchase

D

A

C

A

D

A

N/A

No

532378003

33220652

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Legal / Regulatory / Compliance

Final Title Policy is missing. No evidence of title in file.

Missing title.

Reviewer Comment (2025-03-31): Received and associated Title Commitment with title policy amount $[Redacted]. Exception cleared. Buyer Comment (2025-03-28): Title with loan amount uploaded to [Redacted].

03/31/2025

1

C

A

C

A

C

A

C

A

C

A

GA

Investment

Purchase

D

A

C

A

D

A

N/A

No

532378003

33220653

Credit

Loan Package Documentation

Closing / Title

Title

Title: Evidence of title is missing

The file was missing a copy of the title commitment/final title policy.

Reviewer Comment (2025-03-31): Received and associated Title Commitment with title policy amount $[Redacted]. Exception cleared. Buyer Comment (2025-03-28): Title with loan amount.

03/31/2025

1

C

A

C

A

C

A

C

A

C

A

GA

Investment

Purchase

D

A

C

A

D

A

N/A

No

567001547

33220661

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing letter of explanation stating the reason the subject property is vacant.

Reviewer Comment (2025-04-02): Documentation provided; exception cleared. Buyer Comment (2025-04-01): See LOX provided

04/02/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

515866821

33220684

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Rider - Other not provided

Copy of Accommodation rider is not available in file.

Reviewer Comment (2025-04-07): Received and associated Accommodation Rider document. Exception cleared Buyer Comment (2025-04-04): Accommodation rider

04/07/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

A

C

A

A

A

N/A

No

597982657

33291023

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Non first time investor living rent free must provide proof of a 12-month ownership AND rental history on an REO property.

Reviewer Comment (2025-05-02): Proof of ownership and rental history were provided. Seller Comment (2025-04-30): Attached a copy of the lease for [Redacted]. Please Clear Reviewer Comment (2025-04-24): Provide either a prior lease or Sch E, LOE from borrower, etc, as borrower is living rent free. The pay history and insurance binder show he owns a property, guidelines specifically state rental history is required as well, exception remains. Seller Comment (2025-04-22): On page [Redacted]of [Redacted] is the[Redacted] month mortgage pay history and on page [Redacted]is a Landlord Policy for his rental on [Redacted] that proves rental history on an REO along with the data verify starting on page [Redacted]that shows the purchase of that investment property located at [Redacted]  Please Cancel.

05/02/2025

1

C

A

C

A

C

A

C

A

C

A

MA

Investment

Purchase

C

A

C

A

A

A

N/A

No

508953897

33280361

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception approved for tradelines.

Borrower has owned the subject property for at least [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

[Redacted] months reserves. LTV is [Redacted]% below guideline max Fico is [Redacted] points above guideline minimum.

SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-17): Lender exception in file.

04/17/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

581845048

33291858

Compliance

Compliance

Federal Compliance

ATR/QM

Self-Employed Tax Return Recency - ATR

Ability to Repay (Dodd-Frank 2014): Self Employed Tax Returns - The business or personal tax returns provided are not the most recent. Application Date [Redacted],  Most Recent Tax Return End Date [Redacted], Tax Return Due Date [Redacted].

The business or personal tax returns provided are not the most recent. Application Date [Redacted], Most Recent Tax Return End Date [Redacted], Tax Return Due Date [Redacted].

Reviewer Comment (2025-04-28): The client accepts this as is.

2

B

B

B

B

B

B

B

B

B

B

AL

Second Home

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

588028000

33290824

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

The file is missing a copy of the secondary valuation required for securitization Purposes.

Reviewer Comment (2025-04-24): A CDA was provided. Seller Comment (2025-04-22): Attached the CDA

04/24/2025

1

D

A

D

A

D

A

D

A

D

A

NY

Investment

Purchase

D

A

A

A

D

A

N/A

No

513599865

33294986

Credit

Loan Eligibility

Guideline Issue

Loan Eligibility

Credit history reflects lates that do not meet guidelines.

- Credit history reflects a total of ___ reported late payments.

Mortgage lates reflected on the subject property exceeding [Redacted]  as per guideline requirements. [Redacted] in last 12 months. Max is [Redacted].

Borrower has owned the subject property for at least [Redacted] years. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Miscellaneous Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

LTV is at least [Redacted]% < guideline requirement. Prior homeownership experience (No FC or Short Sale) Lender Exception with Compensating Factors.

SitusAMC SitusAMC Originator,SitusAMC Originator Originator,SitusAMC SitusAMC

Reviewer Comment (2024-08-09): Compensating Factor Update. Reviewer Comment (2024-06-24): Lender exception with compensating factors.

06/24/2024

2

B

B

B

B

B

B

B

B

B

B

CA

Investment

Refinance - Rate/Term

D

B

D

B

A

A

N/A

No

513599865

33294987

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

The loan file is missing the Business Purpose & Occupancy Affidavit (initial).

Reviewer Comment (2024-06-28): Received Initial Business Purpose & Occupancy Affidavit. Exception Cleared. Buyer Comment (2024-06-27): Initial business purpose affidavit uploaded

06/28/2024

1

C

A

C

A

C

A

C

A

D

A

CA

Investment

Refinance - Rate/Term

D

B

D

B

A

A

N/A

No

593392387

33294993

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Lender Exception approval for a LTV/CLTV to [Redacted]%.  Experienced Investors with a DSCR score between [Redacted]-[Redacted] have a maximum LTV/CLTV of [Redacted]%. The Compensating Factor is Prior Homeownership experience does not reflect a foreclosure or short sale.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Miscellaneous

Prior homeownership Experience (No FC or SS)

SitusAMC Originator

Reviewer Comment (2024-08-08): Lender Exception with Compensating Factors.

08/08/2024

2

B

B

B

B

B

B

B

B

B

B

PA

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

593392387

33294994

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Lender Exception approval for a LTV/CLTV to [Redacted]%.  Experienced Investors with a DSCR score between [Redacted]-[Redacted] have a maximum LTV/CLTV of [Redacted]%. The Compensating Factor is Prior Homeownership experience does not reflect a foreclosure or short sale.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Miscellaneous

Prior homeownership Experience (No FC or SS)

SitusAMC Originator

Reviewer Comment (2024-08-08): Lender Exception with Compensating Factors.

08/08/2024

2

B

B

B

B

B

B

B

B

B

B

PA

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

569969242

33294996

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: [Redacted]                  Disaster End Date: [Redacted] Disaster Name: [Redacted] Disaster Declaration Date: [Redacted]

Reviewer Comment (2024-08-23): Received Property inspection report. Verified and updated details. Exception Cleared. Buyer Comment (2024-08-22): Attached, no damage.

08/23/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

551161178

33295008

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

-

Account Months Verified is less than 2 months (Statement Received Acct ending [Redacted] [Redacted] - [Redacted] and [Redacted] - [Redacted])

Reviewer Comment (2024-08-28): Consecutive bank statement received and verified the details. Exception Cleared. Buyer Comment (2024-08-27): Consecutive bank statement uploaded.

08/28/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Purchase

C

B

C

B

A

A

N/A

No

551161178

33295010

Credit

Documents

Missing Document

Documents

File does not contain documentation from lender/seller confirming the condo is warrantable.

-

Lender approved exception requested for Non - Warrantable Condo

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Excellent Credit Management with FICO [Redacted]+ Prior homeownership Experience (No FC or SS) Low default risk with equity, LTV [Redacted]% lower than matrix

SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2024-08-19): Lender Exception with Compensating Factors

08/19/2024

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Purchase

C

B

C

B

A

A

N/A

No

575257751

33295015

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Reviewer Comment (2024-10-02): Final title provided, exception cleared.

10/02/2024

1

A

A

A

A

A

A

A

A

A

A

TX

Investment

Refinance - Cash-out - Other

B

A

B

A

A

A

N/A

No

575257751

33295016

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

Title Policy Coverage is less than the loan amount. Please provide updated coverage of final Title Policy evidencing the correct coverage.

Reviewer Comment (2024-10-02): Final title provided, exception cleared. Buyer Comment (2024-09-26): Final title policy uploaded.

10/02/2024

1

B

A

B

A

B

A

B

A

B

A

TX

Investment

Refinance - Cash-out - Other

B

A

B

A

A

A

N/A

No

569413868

33295018

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The leases for the subject property reflect < 3months remaining at time of close as they are month to month. The loan file does not contain document the extension  of leases as required by guidelines.

Reviewer Comment (2024-09-05): Exception cleared. Buyer Comment (2024-08-27): The appraisal confirms both units remain occupied. Guidelines do not specifically require a lease extension, rather a lease extension is offered as an example of the evidence of continued occupancy. The appraisal is the evidence in this case.

09/05/2024

1

C

A

C

A

C

A

C

A

C

A

RI

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

506097908

33295035

Credit

Insurance

Insurance Documentation

Insurance

Rent loss insurance is required on all properties and there is no evidence of this insurance in the file.

Rent loss insurance is required for subject properties.

Reviewer Comment (2024-09-05): Insurance provided, exception cleared. Buyer Comment (2024-08-27): The policy provided in the file includes rent loss insurance, see page [Redacted]/[Redacted]showing "RENTAL PROPERTY INSURANCE" is included as part of the contract with the insurer, and then page [Redacted]/[Redacted][Redacted]defining the terms of the fair rental value coverage.

09/05/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

506097908

33295036

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Less than 6 months on title.  Based on estimated closing date of [Redacted].  Borrower will have [Redacted] days seasoning.  Borrower was deed onto title [Redacted].  Guidelines requires 6 months.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Lender Exception with Compensating Factors

Originator,SitusAMC SitusAMC

Reviewer Comment (2024-08-19): Lender Exception with Compensating Factors

08/19/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

556910054

33295038

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception approved for subject property being a Rural property.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Lender Exception with Compensating Factors. Excellent Credit Management with FICO [Redacted]+ Prior homeownership Experience (No FC or SS)

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-08-29): Lender Exception with Compensating Factors.

08/29/2024

2

B

B

B

B

B

B

B

B

B

B

PA

Investment

Purchase

B

B

B

B

A

A

N/A

No

507528278

33295043

Credit

Documents

Missing Document

Documents

File does not contain documentation from lender/seller confirming the condo is warrantable.

-

The subject property is a non warrantable condo which is ineligible per guidelines.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Reserves exceed guidelines by at least [Redacted] months. LTV is less than guideline maximum by at least [Redacted]%. Excellent Credit Management with FICO [Redacted]+

Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2024-09-03): Lender exception with compensating factors.

09/03/2024

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Purchase

B

B

B

B

A

A

N/A

No

573253404

33295048

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

The Articles of Organization/Formation is missing for [Redacted].

Reviewer Comment (2024-09-19): Acceptable doc provided. Buyer Comment (2024-09-13): Please escalate to [Redacted]/[Redacted]as documentation provided meets guideline requirements. Reviewer Comment (2024-09-13): Articles of Organization/Formation is a part of business documentation which is a required document. Exception remains.. Buyer Comment (2024-09-12): Please note, Operating Agreements found in file, images [Redacted], [Redacted]and [Redacted].  All information required is found in file.  Articles of Organization/Formation required IF applicable. Reviewer Comment (2024-09-09): Articles of Organization/Formation is a required document. Exception Remains. Buyer Comment (2024-09-05): Please see image D0039, EIN reflects borrower as sole member.  Articles of Organization are not required.

09/19/2024

1

C

A

C

A

C

A

C

A

C

A

WA

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

573253404

33295050

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

The final signed and dated Business Purpose Agreement is missing from the loan file.

Reviewer Comment (2024-09-09): Received final signed and dated Business Purpose document. Verified and updated details. Exception Cleared. Buyer Comment (2024-09-05): Final business purpose disclosure uploaded.

09/09/2024

1

C

A

C

A

C

A

C

A

D

A

WA

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

573253404

33295051

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The Certificate of Foreign Qualification is missing from the loan file.

Reviewer Comment (2024-09-12): Not required for the state of WA, exception cleared.

09/12/2024

1

C

A

C

A

C

A

C

A

C

A

WA

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

535884204

33295054

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

At the time of appraisal inspection is not required in the file.

Reviewer Comment (2024-09-13): Received form [Redacted] with inspection date post disaster end date. Exception Cleared. Buyer Comment (2024-09-12): Disaster reinspection report uploaded.

09/13/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

589027262

33295057

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

The max LTV for an experienced investor with a DSCR of [Redacted] is [Redacted]%.

Reviewer Comment (2024-09-26): Lender exception in file to allow for use of actual rents to calculate DSCR and now DSCR greater than [Redacted]and minimum LTV is [Redacted]% Buyer Comment (2024-09-24): PC Exception Approval to allow the use of actual rents vs market rents.  LTV max is [Redacted]% Reviewer Comment (2024-09-23): Guidelines state for STR - The Debt-Coverage Ratio (DCR) must be calculated using the lesser of the documented rents from the property management service or the appraiser's estimate of market rents. If we use the following - Short term rentals of less than one month in term will be qualified as an unleased property unless the borrower is able to demonstrate a [Redacted]-month history of rents on the subject property. The borrower may provide documentation from their property management service documenting [Redacted]months gross rents, then the max LTV for an unleased property is [Redacted]%, so the LTV is getting worse. Please advise on how you would like to proceed. Buyer Comment (2024-09-16): Short term rental, so it is acceptable to use the rents received for the DSCR.  Short term rentals of less than [Redacted]month in term will be qualified as an unleased property unless the borrower is able to demonstrate a [Redacted]-month history of rents on the subject property. The borrower may provide documentation from their property management service documenting [Redacted]months gross rents. Documentation provided meets guidelines and can be used for DSCR. Reviewer Comment (2024-09-13): DSCR as per short term rental document is [Redacted]/[Redacted]=[Redacted]. However, we have comparable rent schedule on file reflecting estimated rent of [Redacted]/[Redacted]= [Redacted]due to which we are unable to meet the LTV requirement per Guidelines. Exception Remains Buyer Comment (2024-09-12): Proof rents received averaging $[Redacted]over last [Redacted]months.  DSCR is [Redacted]and max LTV is [Redacted]%

09/26/2024

1

C

A

C

A

C

A

C

A

C

A

LA

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

589027262

33295058

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

The max LTV for an experienced investor with a DSCR of [Redacted] is [Redacted]%.

Reviewer Comment (2024-09-26): Lender exception in file to allow for use of actual rents to calculate DSCR and now DSCR greater than [Redacted]and minimum LTV is [Redacted]% Buyer Comment (2024-09-24): PC Exception Approval to allow the use of actual rents vs market rents.  LTV max is [Redacted]% Reviewer Comment (2024-09-23): Guidelines state for STR - The Debt-Coverage Ratio (DCR) must be calculated using the lesser of the documented rents from the property management service or the appraiser's estimate of market rents. If we use the following - Short term rentals of less than one month in term will be qualified as an unleased property unless the borrower is able to demonstrate a [Redacted]-month history of rents on the subject property. The borrower may provide documentation from their property management service documenting [Redacted]months gross rents, then the max LTV for an unleased property is [Redacted]%, so the LTV is getting worse. Please advise on how you would like to proceed. Buyer Comment (2024-09-16): Short term rental, so it is acceptable to use the rents received for the DSCR.  Short term rentals of less than one month in term will be qualified as an unleased property unless the borrower is able to demonstrate a [Redacted]-month history of rents on the subject property. The borrower may provide documentation from their property management service documenting [Redacted]months gross rents. Documentation provided meets guidelines and can be used for DSCR. Reviewer Comment (2024-09-13): DSCR as per short term rental document is [Redacted]/[Redacted]=[Redacted]. However, we have comparable rent schedule on file reflecting estimated rent of [Redacted]/[Redacted]= [Redacted]due to which we are unable to meet the CLTV requirement per Guidelines. Exception Remains Buyer Comment (2024-09-12): Proof rents received averaging $[Redacted]over last [Redacted]months.  DSCR is [Redacted]and max LTV is [Redacted]%

09/26/2024

1

C

A

C

A

C

A

C

A

C

A

LA

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

589027262

33295059

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Exception request to allow the use of actual rents received vs market rents on the appraisal.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Excellent Credit Management with FICO [Redacted]+ Prior homeownership Experience (No FC or SS) Multiple mortgages ([Redacted]+) reported on credit seasoned [Redacted]+ months & 0X30

SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2024-09-26): Lender Exception with Compensating Factors.

09/26/2024

2

B

B

B

B

B

LA

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

551536181

33295084

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Borrower is living rent free at other than spouse's residence and is a first time investor which is ineligible per guidelines.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Miscellaneous

Lender Exception with Compensating Factors provided. Conservative use of credit or minimal use of revolving credit.

Originator,SitusAMC Originator

Reviewer Comment (2024-10-04): Lender Exception with Compensating Factors provided. Buyer Comment (2024-10-01): Attached post-closing exception for the occupancy circumstances. Low risk scenario. Reviewer Comment (2024-09-24): Pg [Redacted] of Matrix version [Redacted]states: Borrower living rent free at other than spouse's residence are acceptable with a [Redacted]FICO and must not be a first time investor. Buyer Comment (2024-09-19): Could you please escalate this discrepancy to your team lead or Spv? The Guidelines state that if the borrower has a FICO score of more than [Redacted]may qualify for living rent-free at an other than a spouse. The actual FICO score is [Redacted]. Please see the attached documents.

10/04/2024

2

C

B

C

B

C

B

C

B

C

B

VA

Investment

Purchase

C

B

C

B

A

A

N/A

No

551536181

33295085

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The subject property is located in a FEMA disaster that does not have a declared end date.

Reviewer Comment (2024-11-11): Property inspection report provided reflecting no damage, exception cleared. Buyer Comment (2024-11-01): Please see the re-inspection report attached. No damage been reported

11/11/2024

1

A

A

A

A

A

VA

Investment

Purchase

C

B

C

B

A

A

N/A

No

503574469

33295089

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The subject property was listed at time of application (Guideline require a listing to be cancelled prior to or at time of application).

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Excellent credit management with FICO [Redacted]+. Prior homeownership experience (No FC or Short Sale).

SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-09-19): Lender exception with compensating factors.

09/19/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

524509263

33295090

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

The Loan to value ratio is [Redacted]%. Maximum Loan to value allowed per guideline is [Redacted]% if DSCR is <[Redacted].

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous Miscellaneous

Prior homeownership experience (No FC or Short Sale). Excellent credit management with FICO [Redacted]+.

SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-09-19): Lender exception with compensating factors.

09/19/2024

2

B

B

B

B

B

B

B

B

B

B

PA

Investment

Purchase

D

B

D

B

A

A

N/A

No

524509263

33295091

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

OFAC Search of Pittsburgh House [Redacted].

Reviewer Comment (2024-09-23): Received OFAC document. Exception cleared. Buyer Comment (2024-09-20): OFAC uploaded.

09/23/2024

1

C

A

C

A

C

A

C

A

D

A

PA

Investment

Purchase

D

B

D

B

A

A

N/A

No

524509263

33295093

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

The combined loan to value ratio is [Redacted]%. Maximum combined loan to value allowed per guideline is [Redacted]% if DSCR is <[Redacted].

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous Miscellaneous

Prior homeownership experience (No FC or Short Sale). Excellent credit management with FICO [Redacted]+.

SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-09-19): Lender exception with compensating factors.

09/19/2024

2

B

B

B

B

B

B

B

B

B

B

PA

Investment

Purchase

D

B

D

B

A

A

N/A

No

524509263

33295094

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The Borrower is living rent free and a letter from the person providing the free housing is missing from the loan file.

Reviewer Comment (2024-09-24): Updated LOE provided, exception cleared. Buyer Comment (2024-09-20): LOE uploaded.

09/24/2024

1

C

A

C

A

C

A

C

A

C

A

PA

Investment

Purchase

D

B

D

B

A

A

N/A

No

532231753

33295096

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Borrower has [Redacted]+ financed properties with [Redacted].

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Substantial cash reserves. Excellent credit management with FICO [Redacted]+. Prior homeownership experience (No FC or Short Sale). Lender Exception with Compensating Factors provided.

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator Originator,SitusAMC

Reviewer Comment (2025-01-30): Lender Exception with Compensating Factors provided. Reviewer Comment (2024-09-19): Lender exception with compensating factors.

09/19/2024

2

B

B

B

B

B

B

B

B

B

B

OH

Investment

Purchase

B

B

B

B

A

A

N/A

No

518926155

33295103

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

OFAC report was not provided for the borrowing entity.

Reviewer Comment (2024-10-04): Provided. Cleared. Buyer Comment (2024-10-01): OFAC for borrowing entity uploaded.

10/04/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

518926155

33295104

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The Borrower is a first time investor (has only owned subject property for X months) and is living rent free at residence other than a spouse's which is ineligible per guidelines.

Reviewer Comment (2024-11-25): Exception cleared. Buyer Comment (2024-11-13): Please see Warranty Deed and Property Profile for property located at [Redacted] reflecting borrower is not a 1st time homebuyer.  The [Redacted] Organization the subject was purchased in [Redacted]was the LLC with the borrower and ex spouse.  All documentation transferring subject to The [Redacted] in the borrowers name has been included with the initial file upload.  Borrower is not a first time investor. Reviewer Comment (2024-10-28): The date the lease was signed by the Borrower and the tenant was on [Redacted] (pg [Redacted]). Buyer Comment (2024-10-24): Please see tenant license reflecting address changed in [Redacted], borrower is not a FTHB. Reviewer Comment (2024-10-23): The provided lease was signed by tenant and landlord on [Redacted]. Buyer Comment (2024-10-21): Lease agreement for commercial property reflecting borrower is not a FT investor uploaded. Reviewer Comment (2024-10-11): Please provide property history report that reflects borrower has owned [Redacted] since [Redacted]as no documentation reflecting when borrower obtained property. Buyer Comment (2024-10-08): Please note, borrower is not a FTH as property located at [Redacted] has been owned since [Redacted]. Reviewer Comment (2024-10-04): Per Guidelines : A First-Time Investor is a borrower who has not owned at least [Redacted] investment property for at least [Redacted]months anytime during the most recent [Redacted]-month period. Borrower has only owned the property since [Redacted], less than [Redacted] months making them a First Time Investor. Buyer Comment (2024-10-04): Borrower is not a first time investor as loan is a cash out refinance.

11/25/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

518926155

33295105

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Maximum LTV for a first time investor with DSCR <[Redacted] is [Redacted]%.

Reviewer Comment (2024-10-10): Received Lease agreement and rent roll. Exception Cleared. Buyer Comment (2024-10-08): Proof higher rents per lease received.  ($[Redacted]) DSCR > [Redacted].

10/10/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

518926155

33295106

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Maximum LTV for a first time investor with DSCR <[Redacted] is [Redacted]%.

Reviewer Comment (2024-10-10): Received Lease agreement and rent roll. Exception Cleared. Buyer Comment (2024-10-08): Proof higher rents per lease received.  ($[Redacted]) DSCR >[Redacted].

10/10/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

518926155

33295107

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The subject property is located in a FEMA disaster that does not have a declared end date.

Reviewer Comment (2024-11-25): Property Inspection Report document received and associated. Exception Cleared. Buyer Comment (2024-11-20): Disaster reinspection report uploaded.

11/25/2024

1

A

A

A

A

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

530805399

33295111

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The subject property is a non warrantable condo which is ineligible per guidelines.

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Low default risk with substantial equity, LTV at least [Redacted]% lower than matrix. Excellent credit management with FICO [Redacted]+ Prior homeownership experience (No FC or Short Sale).

SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-09-27): Lender exception with compensating factors.

07/10/2025

2

B

B

B

B

B

B

B

B

B

B

HI

Investment

Purchase

B

B

B

B

A

A

N/A

No

530805399

33411504

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Property is a condo, condo rider in file.  1004 appraisal used for condo instead of form 1073.

The representative FICO score exceeds the guideline minimum by at least [Redacted] points. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Low default risk with substantial equity, LTV at least [Redacted]% lower than matrix.

SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2025-05-19): Regraded and waived Reviewer Comment (2025-05-19): Re grade and wive with comp factors

05/19/2025

2

B

B

B

B

B

HI

Investment

Purchase

B

B

B

B

A

A

N/A

No

516134120

33295115

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient. Require verification of policy with sufficient coverage OR copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2024-10-03): Insurance coverage is sufficient to cover loan amount. Exception cleared. Buyer Comment (2024-10-01): Please see image [Redacted]from initial file, dwelling coverage reflects $[Redacted]and covers loan amount of $[Redacted].  In addition, coverage includes $[Redacted]rent loss coverage.

10/03/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

C

A

C

A

A

A

N/A

No

516134120

33295116

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Business Purpose Certification is not complete. The box is not initialed to designate if the property will or will not be occupied by the borrower or a family member.

Reviewer Comment (2024-10-28): Documents received, exception cleared. Buyer Comment (2024-10-24): Business purpose disclosure initialed uploaded.

10/28/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

C

A

C

A

A

A

N/A

No

599444590

33295117

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

-

Account Number [Redacted] has less than 2 months of reported transactions. Additional statement is required.

Reviewer Comment (2024-11-04): Two months bank statements provided. Exception cleared. Buyer Comment (2024-11-01): Two months bank statements uploaded. Buyer Comment (2024-11-01): [Redacted] acct #[Redacted]balance $[Redacted]plus sourced $[Redacted]EMD already taken out of this account = $[Redacted].  CTC = $[Redacted](including EMD).  Reserves = $[Redacted]exceeds [Redacted] months guideline requirement.  Additional account is not required. Reviewer Comment (2024-10-25): Cash from borrower is $[Redacted] + Reserve requirement is $[Redacted]. Total requirement is $[Redacted]. Verified assets including account #[Redacted]and POC is $[Redacted]. Provide one more month statement for account #[Redacted]to meet the requirement. Exception remains. Buyer Comment (2024-10-24): Revised 1003 removing account.  Verified assets per transaction history [Redacted][Redacted] #[Redacted]$[Redacted], CTC $[Redacted]= $[Redacted]([Redacted]) months.  Additionally uploading appraisal invoice reflecting POC paid by cc.  If you are unable to clear unsigned revised 1003, please escalate to [Redacted]/[Redacted].

11/04/2024

1

C

A

C

A

C

A

C

A

C

A

PA

Investment

Purchase

C

A

C

A

A

A

N/A

No

599444590

33295119

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Guidelines require rent loss insurance to be at least 6 months gross monthly rent. The HOI policy include rent loss insurance but did not specify a dollar amount or months of coverage.

Reviewer Comment (2024-10-11): Verification of rent loss provided, exception cleared. Buyer Comment (2024-10-08): Policy reflecting rent loss insurance uploaded.

10/11/2024

1

C

A

C

A

C

A

C

A

C

A

PA

Investment

Purchase

C

A

C

A

A

A

N/A

No

593594826

33295144

Credit

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal not provided

Lender requested exception to waive the requirement for a 2nd appraisal (Guidelines require 2 appraisals for seller flipped properties transferred within [Redacted] days & increase in value of [Redacted]% or more[Redacted].

Reviewer Comment (2024-11-11): Property acquired per title [Redacted]> [Redacted]days from contract date, exception cleared. Buyer Comment (2024-11-04): There was a miscommunication or misunderstanding with the first Non-Agency Loan Approval Summary because we submitted an incorrect Loan Approval. The initial Loan Approval included an exception that later on was canceled since the sale date of the property used the actual sale date and not the date the property was recorded. Please see the screenshot and a new Loan Approval attached. Reviewer Comment (2024-10-24): Not a valid comp factor as the Borrower currently rents and owns no other properties per Fraud Report. Prior Homeownership Experience (No FC or SS) is not a valid CF. Buyer Comment (2024-10-22): Please see Fraud report attached. The FC process is not for our borrower is referring to the subject property which was purchased at action in [Redacted] [Redacted]. The Comp Factor is a valid one since is not applied to our borrower Reviewer Comment (2024-10-17): Invalid Comp Factors, see prior comment. Buyer Comment (2024-10-09): Please see the Loan Approval attached. file was approved for for an exception to waive the requirement for a [Redacted] appraisal Reviewer Comment (2024-10-04): Borrower currently rents and owns no other properties per Fraud Report. Prior Homeownership Experience (No FC or SS) is not a valid CF.

11/11/2024

1

D

A

D

A

D

A

D

A

D

A

PA

Investment

Purchase

D

A

D

A

A

A

N/A

No

588522167

33295169

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The verification of rent for the Borrower's primary residence reflects the landlord as an individual which requires [Redacted] months cancelled checks/bank statements per guidelines. The loan file is missing cancelled checks or bank statements to verify rental payments.

Reviewer Comment (2024-10-25): VOR in file. Buyer Comment (2024-10-22): Could you kindly escalate this discrepancy to your team lead or Spv? the page # [Redacted]is referring to a VOR and VOM. The first part is related to VOR which stated that we only required cxl checks or bank statements if the bwr is making rental pymts to an interest party but if is to an individual that does not have any interest then we don't need cxl checks and/or bank statements to show VOR. the second part part it is referring to VOM which is referring to an individual and/or private party but is related to a VOM. Thank you Reviewer Comment (2024-10-21): Guidelines pg [Redacted]state: [Redacted] months of cancelled checks or bank statements must be obtained when: · the borrower is making rental payments to an interested party, or · the borrower is making mortgage payments to an individual or an interested party. Buyer Comment (2024-10-15): Could you please review this exception one more time? per guidelines, we only need [Redacted]months of canceled checks when the borrower is making rental payments or mortgage payments to an interested party. Please see the attached documents that include VOR, LOE letter explaining that XXX has not relationship with the borrower and guidelines.

10/25/2024

1

C

A

C

A

C

A

C

A

C

A

CT

Investment

Purchase

C

A

C

A

A

A

N/A

No

588167657

33295170

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

The loan file did not contain the Initial and/or the Final Business Purpose Affidavits.

Reviewer Comment (2024-10-11): Document provided , Exception cleared Buyer Comment (2024-10-09): Initial and final business purpose disclosure uploaded.

10/11/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

C

B

C

B

A

A

N/A

No

588167657

33295171

Credit

Credit

Credit Eligibility

Credit

Active Tradeline requirement not met.

- Borrower has ___ Active Tradelines which is less than the minimum required by guidelines.

The borrower does not meet the minimum tradeline requirement. Guidelines required a minimum of [Redacted] rated for [Redacted] months or [Redacted] for [Redacted]. Borrower has a VOR rated for [Redacted] and revolving account for [Redacted],and [Redacted] month.

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[Redacted]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Low default risk with equity, LTV [Redacted]% lower than matrix.

SitusAMC SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2024-10-04): Lender exception with compensating factors.

10/04/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Investment

Purchase

C

B

C

B

A

A

N/A

No

588167657

33295174

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted].

Reviewer Comment (2024-10-23): Letter of explanation and verification of deposit provided for closure of account #[Redacted]and opening of new account #[Redacted], reserves requirement of PITIA [Redacted]months met. Exception cleared. Buyer Comment (2024-10-22): Evidence funds from acct #[Redacted]deposited into acct #[Redacted]and #[Redacted]with a balance of $[Redacted].  Account #[Redacted]opened [Redacted] and proof attached.  No account history as the acct was recently opened. Reviewer Comment (2024-10-11): Account [Redacted]was closed due to fraudulent and [Redacted]was opened in place , As per letter we cant not use and for account [Redacted]don't have transaction history . Exception remains . Buyer Comment (2024-10-09): Please note, [Redacted] account ending #[Redacted]with verified assets of $[Redacted].  CTC $[Redacted].  Reserves $[Redacted].  [Redacted] months reserves.

10/23/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

C

B

C

B

A

A

N/A

No

577357918

33295178

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Borrower has mortgage lates ([Redacted]) within the last [Redacted] months that exceeds guidelines.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Substantial cash reserves. Excellent credit management with FICO [Redacted]+. Prior homeownership experience (No FC or Short Sale).

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-10-04): Lender exception with compensating factors.

10/04/2024

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Purchase

C

B

C

B

A

A

N/A

No

577357918

33295180

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Borrower exceeds [Redacted]+ financed properties with lender which exceeds guidelines.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Substantial cash reserves. Excellent credit management with FICO [Redacted]+. Prior homeownership experience (No FC or Short Sale).

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-10-04): Lender exception with compensating factors.

10/04/2024

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Purchase

C

B

C

B

A

A

N/A

No

577357918

33295181

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The subject property is located in a FEMA disaster that does not have a declared end date.

Reviewer Comment (2024-11-11): Post disaster inspection report provided, exception cleared. Buyer Comment (2024-11-05): Disaster reinspection uploaded.

11/11/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Purchase

C

B

C

B

A

A

N/A

No

594775534

33295185

Credit

Missing Document

General

Missing Document

Missing Document: Verification of Non-US Citizen Status not provided

A copy of the Borrower's permanent resident alien card is missing from the loan file.

Reviewer Comment (2024-10-11): Permanent resident alien card provided. Exception cleared. Buyer Comment (2024-10-09): ID and permanent resident alien card uploaded.

10/11/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

A

C

A

A

A

N/A

No

594775534

33295186

Credit

Missing Document

General

Missing Document

Missing Document: Account Statements - Personal not provided

The loan file is missing a consecutive month's bank statement (guidelines require two months statements) for account ending [Redacted] used for closing and reserves.

Reviewer Comment (2025-02-28): Additional month's statement provided, exception cleared. Buyer Comment (2025-02-21): [Redacted]months consecutive bank stmts from [Redacted]  [Redacted]. acct-[Redacted][Redacted]). See withdrawal from acct-[Redacted]to source funds of $[Redacted]+Interest pymt of $[Redacted]into this new acct opened.  The other $[Redacted]remaining from closed acct-[Redacted]was transferred into acct-[Redacted]on [Redacted], [Redacted] Additional month bank stmt from [Redacted]  [Redacted]. acct-[Redacted]([Redacted]), [Redacted] Additional month bank stmt from [Redacted]  [Redacted]. acct-[Redacted]([Redacted]) to source the funds/large deposit of $[Redacted]to open new acct-[Redacted]on [Redacted] and the source of the funds transferred into acct-[Redacted]for $[Redacted] on [Redacted] (entire account balance was transferred/deposited into [Redacted] other accounts). Reviewer Comment (2024-10-23): Required letter of explanation or additional document to verified the funds is transferred from acct [Redacted]to new acct [Redacted]. Exception Remains. Buyer Comment (2024-10-22): Please reference guidelines that require LOE for transferred funds into a new account.  Verification the account was closed and transferred to accounts that have been verified. Reviewer Comment (2024-10-11): Please provide letter of explanation for acct [Redacted] transferred funds into a new acct [Redacted]. Exception remains. Buyer Comment (2024-10-09): Please see notes on [Redacted]image [Redacted], borrower had a joint account #[Redacted]transferred funds into a new acct #[Redacted].  There is only [Redacted] bank statement available.

02/28/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

A

C

A

A

A

N/A

No

539047487

33295188

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

Reviewer Comment (2024-10-18): CDA provided exception cleared. Buyer Comment (2024-10-16): Please see CDA report attached

10/18/2024

1

D

A

D

A

D

A

D

A

D

A

FL

Investment

Refinance - Cash-out - Other

D

A

C

A

D

A

N/A

No

539047487

33295190

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The fraud report reflects a $[Redacted] mortgage for the borrower's primary residence that the loan file does not document a payment history for.

Reviewer Comment (2024-11-11): Exception cleared. Buyer Comment (2024-11-01): Please see the Full credit report and a soft report showing that our borrower is not responsible for a loan for the amount listed on the fraud report. Reviewer Comment (2024-10-28): Deed reflects Borrower having ownership in the property but does not provide who is responsible for the lien. Buyer Comment (2024-10-23): There isn't really a red flag in regards to this property and public records show both as owners, please see warranty Deed  attached showing our borrower as joint tenant. Reviewer Comment (2024-10-23): Please provide property report reflecting XXX as the only note holder. Buyer Comment (2024-10-18): The Mortgage does not appear on the credit report as she is not obligated to the note, she may be on the DOT only and who is responsible is XXX. Please see the Credit report and soft report indicating that she never engaged in a mortgage loan with XXX.

11/11/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

D

A

C

A

D

A

N/A

No

500277473

33295192

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Borrowers LTV is [Redacted]% and maximum Guidelines are [Redacted]% for a First Time Investor with a DSCR <[Redacted].  The compensating factors are substantial cash reserves, homeownership experience and excellent credit management with a FICO [Redacted]+. ****Update [Redacted] - Borrowers LTV is [Redacted]% and maximum Guidelines are [Redacted]% for a First Time Investor with a DSCR <[Redacted].  The compensating factors are substantial cash reserves, and excellent credit management with a FICO [Redacted]+.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Lender Exception with Compensating Factors provided. Excellent Credit Management with FICO [Redacted]+

Originator,SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2024-10-24): Lender exception with compensating factors. Buyer Comment (2024-10-22): Please see an update Non Agency Loan Approval Summary attached showing corrections on Comp Factors. Reviewer Comment (2024-10-22): Still need revised lender approval / exception.  One of the comp factors is "Prior homeownership Experience (No FC or SS)" but the borrower has not owned a home per final 1003 application.  Exception can be cleared once that comp factor is removed. Buyer Comment (2024-10-16): Please see Non-Agency Loan approval Summary attached showing that file was approved for a UW exception for going over [Redacted]% LTV Reviewer Comment (2024-10-14): Borrower has not owned a home. Please remove Prior Homeownership CF.

10/24/2024

2

C

B

C

B

C

B

C

B

C

B

TX

Investment

Purchase

C

B

C

B

A

A

N/A

No

500277473

33295193

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Borrowers LTV is [Redacted]% and maximum Guidelines are [Redacted]% for a First Time Investor with a DSCR <[Redacted].  The compensating factors are substantial cash reserves, homeownership experience and excellent credit management with a FICO [Redacted]+. ****Update [Redacted] - Borrowers LTV is [Redacted]% and maximum Guidelines are [Redacted]% for a First Time Investor with a DSCR <[Redacted].  The compensating factors are substantial cash reserves, and excellent credit management with a FICO [Redacted]+.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Lender Exception with Compensating Factors provided. Excellent Credit Management with FICO [Redacted]+

Originator,SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2024-10-24): Lender exception with compensating factors. Buyer Comment (2024-10-22): Please see an update Non Agency Loan Approval Summary attached showing corrections on Comp Factors. Reviewer Comment (2024-10-22): Still need revised lender approval / exception.  One of the comp factors is "Prior homeownership Experience (No FC or SS)" but the borrower has not owned a home per final 1003 application.  Exception can be cleared once that comp factor is removed. Buyer Comment (2024-10-16): Please see Non-Agency Loan approval Summary attached showing that file was approved for a UW exception for going over [Redacted]% LTV Reviewer Comment (2024-10-14): Borrower has not owned a home. Please remove Prior Homeownership CF.

10/24/2024

2

C

B

C

B

C

B

C

B

C

B

TX

Investment

Purchase

C

B

C

B

A

A

N/A

No

558045095

33295194

Credit

Documents

Missing Document

Documents

File does not contain documentation from lender/seller confirming the condo is warrantable.

-

The Subject Property is a Non-warrantable condo, which is ineligible per the Guidelines.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Substantial cash reserves. Excellent credit management. Prior homeownership experience (No FC or Short Sale).

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-10-23): Lender exception with compensating factors. Buyer Comment (2024-10-17): UPE approved PTC by [Redacted] uploaded.

10/23/2024

2

C

B

C

B

C

B

C

B

C

B

FL

Investment

Purchase

D

B

C

B

D

A

N/A

No

558045095

33295195

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

Reviewer Comment (2024-10-21): CU score is received, Exception cleared. Buyer Comment (2024-10-17): Appraisal Review CU uploaded.

10/21/2024

1

D

A

D

A

D

A

D

A

D

A

FL

Investment

Purchase

D

B

C

B

D

A

N/A

No

558045095

33295197

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

A First Time Investor with a DSCR<[Redacted] has a maximum LTV of [Redacted]%.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Substantial cash reserves. Excellent credit management. Prior homeownership experience (No FC or Short Sale).

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-10-23): Lender exception with compensating factors. Buyer Comment (2024-10-17): UPE approved PTC by [Redacted] uploaded.

10/23/2024

2

C

B

C

B

C

B

C

B

C

B

FL

Investment

Purchase

D

B

C

B

D

A

N/A

No

558045095

33295198

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

A First Time Investor with a DSCR<[Redacted] has a maximum LTV of [Redacted]%.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Substantial cash reserves. Excellent credit management. Prior homeownership experience (No FC or Short Sale).

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-10-23): Lender exception with compensating factors. Buyer Comment (2024-10-17): UPE approved PTC by [Redacted] uploaded.

10/23/2024

2

C

B

C

B

C

B

C

B

C

B

FL

Investment

Purchase

D

B

C

B

D

A

N/A

No

558045095

33295200

Credit

Asset

Asset Documentation

Asset

Missing Document: Gift Letter not provided

The gift amount that was received at closing is not the same amount listed on the gift letter in file.

Reviewer Comment (2024-12-17): Closing disclosure provided reflecting gift funds in the amount of $[Redacted], exception cleared. Buyer Comment (2024-12-17): Re-uploading CD reflecting $[Redacted]gift funds deposited ono page[Redacted] and CTC $[Redacted]. Reviewer Comment (2024-12-16): Provided CD gift funds reflecting [Redacted] and Deposited funds to close $[Redacted]on Page [Redacted]. Exception remains. Buyer Comment (2024-12-11): Please see pg [Redacted]reflecting gift funds. Reviewer Comment (2024-12-11): Provided CD gift funds reflecting zero. Exception remains. Buyer Comment (2024-12-10): CD reflecting gift funds uploaded. Reviewer Comment (2024-12-04): Provide CD that reflects the receipt of the $[Redacted]. CD in file only shows $[Redacted]. Buyer Comment (2024-11-25): Please note, the full gift amount of $[Redacted]was received into escrow and matches the letter.  Any additional funds returned to borrower still consists of a gift received by the borrower. Reviewer Comment (2024-11-05): Require gift letter with amount $[Redacted]as per closing . Exception remains Buyer Comment (2024-11-01): Evidence $[Redacted]gift wired into escrow matching the gift letter uploaded.

12/17/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Purchase

D

B

C

B

D

A

N/A

No

558045095

33295201

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Gift on CD is $[Redacted] +CTC of $[Redacted]+$[Redacted] POC = $[Redacted] FTC. Borrower has gift of $[Redacted]. IRA funds do not show proof of liquidation, resulting in borrower having insufficient funds to close.

Reviewer Comment (2025-02-11): Completed asset documentation received. 1003 update provided. Sufficient funds. Reviewer Comment (2025-02-11): EXCEPTION HISTORY - Exception Explanation was updated on [Redacted] PRIOR Exception Explanation: Documented qualifying Assets for Closing of  $[Redacted]is less than Cash From Borrower $[Redacted]. Buyer Comment (2025-02-11): Revised 1003 uploaded. Reviewer Comment (2025-02-11): Accounts [Redacted]and [Redacted]are not listed on the 1003 and not applied to  the transaction. Please send updated 1003 and email when it is sent. Buyer Comment (2025-01-31): Please see attached asset and cash to close breakdown. There is no additional gift letter, gift letter of $[Redacted]was included in the initial file. Reviewer Comment (2025-01-25): Provide source of funds, gift letter, and evidence of deposit for the $[Redacted]gift missing from the loan file. Without gift documentation, borrower does not have sufficient funds to close. Buyer Comment (2025-01-13): CD uploaded reflecting wire back to the borrower. Reviewer Comment (2025-01-07): Provide CD which shows the borrower receiving the cash back. Unable to use the Wire to verify funds to close. Verification of how the title company determined funds should be sent back to the borrower is required. [Redacted] CD reflects the borrower needing $[Redacted] at closing. If borrower received funds back at closing, they may need to be applied back to the purchase price and then the LTV reevaluated based on documentation received. Buyer Comment (2024-12-18): Documentation uploaded reflects $[Redacted]sent back from settlement agent to borrower. Reviewer Comment (2024-12-17): CTC + $[Redacted]+ POCs $[Redacted]+ [Redacted]gift funds= $[Redacted]. IRA does not show proof of liquidation and overage returned to borrower not reflected in upload. Buyer Comment (2024-12-10): Overage cash to close returned to borrower uploaded. Reviewer Comment (2024-12-04): Settlement statement reflecting funds back to the borrower is missing from the loan file. Please provide. Additional items may be required once documentation is evaluated. Buyer Comment (2024-11-25): Please see overage wire sent back to borrower.  Final SS in file is what was used to close, with wire documentation provided, this should be sufficient to clear the exception. Reviewer Comment (2024-11-11): Please provide updated closing statement reflecting funds back to borrower. Buyer Comment (2024-11-01): Evidence $[Redacted]sourced wire into escrow and return wire.

02/11/2025

1

A

A

A

A

A

FL

Investment

Purchase

D

B

C

B

D

A

N/A

No

558045095

33295202

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

Provide source of funds for the $[Redacted] gift missing from the loan file.

Reviewer Comment (2025-02-11): $[Redacted]removed from loan assets. Buyer Comment (2025-02-11): Revised 1003 uploaded. Reviewer Comment (2025-02-11): Accounts [Redacted]and [Redacted]are not listed on the 1003 and not applied to  the transaction. Please send updated 1003 and email when it is sent. Buyer Comment (2025-01-31): Please see attached asset and cash to close breakdown. There is no additional gift letter, gift letter of $[Redacted] was included in the initial file.

02/11/2025

1

A

A

A

A

A

FL

Investment

Purchase

D

B

C

B

D

A

N/A

No

558045095

33295203

Credit

Asset

Asset Documentation

Asset

Asset Issue:  Gift funds are missing evidence of receipt

Reviewer Comment (2025-02-11): $[Redacted]removed from loan assets. Buyer Comment (2025-02-11): Revised 1003 uploaded. Reviewer Comment (2025-02-11): Accounts [Redacted]and [Redacted]are not listed on the 1003 and not applied to  the transaction. Please send updated 1003 and email when it is sent. Additional documentation may be required once the asset documentation is provided. Buyer Comment (2025-01-31): Please see attached asset and cash to close breakdown. There is no additional gift letter, gift letter of $[Redacted]was included in the initial file.

02/11/2025

1

A

A

A

A

A

FL

Investment

Purchase

D

B

C

B

D

A

N/A

No

558045095

33295204

Credit

Asset

Asset Documentation

Asset

Missing Document: Gift Letter not provided

Missing letter for $[Redacted] gift on [Redacted] CD.

Reviewer Comment (2025-02-11): $[Redacted]removed from loan assets. Buyer Comment (2025-02-11): Revised 1003 uploaded. Reviewer Comment (2025-02-11): Accounts [Redacted]and [Redacted]are not listed on the 1003 and not applied to  the transaction. Please send updated 1003 and email when it is sent. Additional documentation may be required once the asset documentation is provided. Buyer Comment (2025-01-31): Please see attached asset and cash to close breakdown. There is no additional gift letter, gift letter of $[Redacted]was included in the initial file.

02/11/2025

1

A

A

A

A

A

FL

Investment

Purchase

D

B

C

B

D

A

N/A

No

539487858

33295218

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender approved exception for a rural property.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[Redacted]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

DSCR >[Redacted] Low default risk with substantial equity, LTV [Redacted]% lower than matrix. Excellent credit management with FICO [Redacted]+. Prior home ownership experience (No FC or Short Sale).

Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-10-25): Lender exception with compensating factors.

10/25/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

539487858

33295219

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender approved exception for acreage exceeding the guideline maximum of [Redacted] acres.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[Redacted]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

DSCR >[Redacted] Low default risk with substantial equity, LTV [Redacted]% lower than matrix. Excellent credit management with FICO [Redacted]+. Prior home ownership experience (No FC or Short Sale).

Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-10-25): Lender exception with compensating factors.

10/25/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

580399472

33295221

Credit

Insurance

Insurance Analysis

Insurance

Insurance address does not match Note address.

Hazard insurance policy has zip code as [Redacted]-[Redacted] and Note has [Redacted]

Reviewer Comment (2024-11-05): Updated insurance document with correct address is received. Exception cleared. Buyer Comment (2024-11-01): Please see updated HOI Policy attached showing corrections on Zip Code.

11/05/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

516393751

33295223

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The subject property is located in a FEMA disaster that does not have a declared end date.

Disaster Name: [Redacted] Disaster Declaration Date: [Redacted]

Reviewer Comment (2024-11-13): Received BPO Inspection  report. Exception cleared. Buyer Comment (2024-11-12): Please see Re-inspection Report attached.

11/13/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

516393751

33295224

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

The Living Rent Free Letter is missing from the loan file.

Reviewer Comment (2024-12-19): Received Living Rent Free Letter. Exception Cleared. Buyer Comment (2024-12-17): Please see rent free letter attached.

12/19/2024

1

C

A

C

A

C

A

C

A

D

A

FL

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

516393751

33295225

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Evidence the Borrower's Spouse owns the primary residence.

Reviewer Comment (2024-12-03): Property history report provided, exception cleared. Buyer Comment (2024-11-21): Please see RealQuest attached showing that primary property is under his [Redacted]name.

12/03/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

588692859

33295229

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

The Operating Agreement for the Borrowing Entity is missing from the loan file.

Reviewer Comment (2024-11-18): Received annual report dated [Redacted] tax year filing includes interest ownership in business, business ID name, address and borrower name as member. Exception Cleared. Buyer Comment (2024-11-15): Please review documents uploaded, annual report dated [Redacted]tax year filing includes interest ownership in business, business ID name is the borrowing entity [Redacted], address and borrower name as member. Operating agreement not required if supporting documentation is provided including ownership int in business as requested. Articles of organization were also uploaded Reviewer Comment (2024-11-13): Provided document is amended annual report of limited liability company. Require Operating Agreement for the Borrowing Entity. Exception Remains. Buyer Comment (2024-11-13): business interest uploaded Buyer Comment (2024-11-08): Articles of Organization located [Redacted]in loan file package state these articles shall be deemed the operating agreement. Please see page [Redacted] of executed document. Requesting condition waived

11/18/2024

1

C

A

C

A

C

A

C

A

C

A

SD

Investment

Purchase

C

A

C

A

A

A

N/A

No

588692859

33295230

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

The Corporate Resolution is missing from the loan file.

Reviewer Comment (2024-11-13): Corporate Resolution is not required. Exception Cleared. Buyer Comment (2024-11-08): [Redacted] does not require an LLC to file corporate resolution. Articles of Organization confirm the LLC is member-managed and the only member to the LLC is our borrower, [Redacted]. Please review the articles of organization to see if this is sufficient to waive the condition.

11/13/2024

1

C

A

C

A

C

A

C

A

C

A

SD

Investment

Purchase

C

A

C

A

A

A

N/A

No

533530800

33295235

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The loan file is missing the initial business purpose certification.

Reviewer Comment (2024-11-22): Business cert provided, exception cleared. Buyer Comment (2024-11-12): initial business purpose affidavit uploaded

11/22/2024

1

C

A

C

A

C

A

C

A

C

A

OK

Investment

Purchase

C

A

C

A

A

A

N/A

No

564939144

33295238

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The Borrower is living rent free. Per guidelines documentation must be provided to support the borrower occupies the spouse's residence and the mortgage or rent rating on the primary residence complies with Mortgage and Rental Payment Verification.

Reviewer Comment (2024-11-27): Electric bill provided, exception cleared. Buyer Comment (2024-11-15): Evidence of borrower's residency

11/27/2024

1

C

A

C

A

C

A

C

A

C

A

RI

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

544810776

33295240

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

UCDP =<[Redacted] or CDA required.

Reviewer Comment (2025-02-17): CDA received and associated. Exception cleared. Buyer Comment (2025-02-14): CDA uploaded. Reviewer Comment (2025-02-11): [Redacted] upload has no score. [Redacted] upload is not for the subject property. There are no other UCDP uploads. Unable to clear. Email when uploaded. Buyer Comment (2025-01-31): Please see page [Redacted]of upload, it states CU score is [Redacted] Reviewer Comment (2025-01-31): As per the latest UCDP report dated [Redacted] CU score is not available. Require latest UCDP report with CU score =< [Redacted]or CDA. Exception Remains. Buyer Comment (2025-01-29): Appraisal review CU uploaded.

02/17/2025

1

A

A

A

A

A

MN

Investment

Refinance - Cash-out - Other

A

A

A

A

A

A

N/A

No

530453062

33295241

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

Operating Agreement is missing.

Reviewer Comment (2024-11-18): Received annual report dated [Redacted]tax year filing includes interest ownership in business, business ID name, address and borrower name as member. Exception Cleared. Buyer Comment (2024-11-15): Please review documents uploaded, annual report dated [Redacted]tax year filing includes interest ownership in business, business ID name, address and borrower name as member. Operating agreement not required if supporting documentation is provided including ownership int in business as requested. Articles of organization were also uploaded Reviewer Comment (2024-11-14): Provided document is not Operating Agreement. Exception remains Buyer Comment (2024-11-13): business interest uploaded Reviewer Comment (2024-11-12): Operating agreement is required to verify the ownership % of the borrower. Exception remains. Buyer Comment (2024-11-08): Articles of Organization located [Redacted]in loan file package state these articles shall be deemed the operating agreement. Please see page[Redacted] of executed document. Requesting condition waived

11/18/2024

1

C

A

C

A

C

A

C

A

C

A

SD

Investment

Purchase

C

A

C

A

A

A

N/A

No

530453062

33295243

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The initial business purpose certification is missing from the loan file.

Reviewer Comment (2024-11-25): Disclosure provided, exception cleared. Buyer Comment (2024-11-12): Initial business purpose disclosure uploaded

11/25/2024

1

C

A

C

A

C

A

C

A

C

A

SD

Investment

Purchase

C

A

C

A

A

A

N/A

No

577186037

33295246

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Initial Business Purpose Certificate was not provided.

Reviewer Comment (2024-11-13): Initial Business Purpose Certificate provided. Exception cleared. Buyer Comment (2024-11-12): Initial business purpose disc uploaded

11/13/2024

1

C

A

C

A

C

A

C

A

D

A

OK

Investment

Purchase

D

A

D

A

A

A

N/A

No

560910014

33295250

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Missing Final 1003

Final Fully Executed Loan Application not provided.

Reviewer Comment (2024-12-04): Received final 1003. Exception cleared. Buyer Comment (2024-12-03): Final 1003 uploaded. Reviewer Comment (2024-11-25): [Redacted]1003 document is reflecting signed date as "[Redacted]" however Note date is [Redacted]. Please provided 1003 document signed on closing date. Exception Remains. Buyer Comment (2024-11-20): Please refer to image [Redacted], fully executed final 1003.

12/04/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

560910014

33295251

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Net Tangible Benefit Worksheet not provided.

Reviewer Comment (2024-11-25): Loan Approval Summary document is reflecting as "Refinance Net Tangible Benefit Summary" and Same document is associated. Exception Cleared. Buyer Comment (2024-11-20): Please see image [Redacted], page[Redacted] reflecting Refinance Net Tangible Benefit summary.

11/25/2024

1

C

A

C

A

C

A

C

A

D

A

FL

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

560910014

33295252

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Hazard Insurance Coverage Amount is insufficient. Coverage shortfall $[Redacted]. Provide updated Hazard Insurance Policy with Dwelling Coverage of at least $[Redacted] or Replacement Cost Estimator.

Reviewer Comment (2024-12-04): Initial package had provided hazard insurance [Redacted]%  coverage amount for shortfall. Exception cleared. Buyer Comment (2024-12-03): Checklist of Coverage uploaded as subject is located in [Redacted]and [Redacted] is not allowed to be requested in the state of [Redacted].

12/04/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

541051211

33295258

Credit

Credit

Credit Eligibility

Credit

There are red flags on the fraud report that have not been addressed

-

There are flags on the Fraud Report that remain open.

Reviewer Comment (2024-12-02): Alerts cleared, exception cleared. Buyer Comment (2024-11-20): FG with all red flags cleared uploaded.

12/02/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

557323646

33295260

Credit

Documents

Missing Document

Documents

File does not contain documentation from lender/seller confirming the condo is warrantable.

-

Lender approved exception for Non-Warrantable Condo (Guidelines require project approval on all Condos). Compensating Factors: Excellent Credit Management with FICO [Redacted]+ and Conservative use of credit or minimal use of revolving credit.

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Excellent Credit Management with FICO [Redacted]+ Conservative use of credit or minimal use of revolving credit.

SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-11-18): Lender Exception with Compensating Factors.

11/18/2024

2

B

B

B

B

B

B

B

B

B

B

CT

Investment

Purchase

B

B

B

B

A

A

N/A

No

557323646

33295261

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Lender approved exception for LTV to [Redacted]% (Max LTV per guidelines for First Time Investor with DSCR < [Redacted]). Compensating Factors: Excellent Credit Management with FICO [Redacted]+ and Conservative use of credit or minimal use of revolving credit.

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Excellent Credit Management with FICO [Redacted]+ Conservative use of credit or minimal use of revolving credit.

SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-11-18): Lender Exception with Compensating Factors.

11/18/2024

2

B

B

B

B

B

B

B

B

B

B

CT

Investment

Purchase

B

B

B

B

A

A

N/A

No

557323646

33295262

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Lender approved exception for CLTV to [Redacted]% (Max CLTV per guidelines for First Time Investor with DSCR < [Redacted]). Compensating Factors: Excellent Credit Management with FICO [Redacted]+ and Conservative use of credit or minimal use of revolving credit.

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Excellent Credit Management with FICO [Redacted]+ Conservative use of credit or minimal use of revolving credit.

SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-11-18): Lender Exception with Compensating Factors.

11/18/2024

2

B

B

B

B

B

B

B

B

B

B

CT

Investment

Purchase

B

B

B

B

A

A

N/A

No

517531582

33295286

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Initial Business Purpose Affidavit was not provided.

Reviewer Comment (2024-12-06): Business Purpose certificate is received. Exception cleared. Buyer Comment (2024-12-04): Please see Business Purpose & occupancy initial and final attached.

12/06/2024

1

C

A

C

A

C

A

C

A

D

A

CA

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

539700235

33295295

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender approved exception for a first-time investor living rent free.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Excellent Credit Management with FICO [Redacted]+

SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2024-12-04): Lender Exception with Compensating Factors.

12/04/2024

2

B

B

B

B

B

B

B

B

B

B

NJ

Investment

Purchase

B

B

B

B

A

A

N/A

No

539700235

33295296

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Excellent Credit Management with FICO [Redacted]+

SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2025-01-27): Lender Exception with Compensating Factors.

01/27/2025

2

B

B

B

B

B

NJ

Investment

Purchase

B

B

B

B

A

A

N/A

No

539700235

33295297

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Excellent Credit Management with FICO [Redacted]+

SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2025-01-27): Lender Exception with Compensating Factors.

01/27/2025

2

B

B

B

B

B

NJ

Investment

Purchase

B

B

B

B

A

A

N/A

No

572770560

33295299

Credit

Guideline

Guideline Issue

Guideline

Borrower is a first time home buyer and ineligible per guidelines.

-

The Borrower is a first time investor and the Borrower only has two months of rental history prior to they were living rent free.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted].

Substantial cash reserves.

Originator,SitusAMC SitusAMC

Reviewer Comment (2024-12-04): Lender exception with compensating factors.

12/04/2024

2

B

B

B

B

B

B

B

B

B

B

IN

Investment

Purchase

B

B

B

B

A

A

N/A

No

521294657

33295302

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The loan file does not document the Borrower's ownership in the LLC that the property was vested in at origination.

Reviewer Comment (2024-12-19): Borrower signed Warranty deed as Member to transfer title into personal name at close. Buyer Comment (2024-12-12): Not required, as the property was quit claimed back to the applicant prior to close. See attached.

12/19/2024

1

C

A

C

A

C

A

C

A

C

A

OK

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

520333237

33295326

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Appraisal reflects "vacant" for occupant; however, photos appear to show both units fully occupied and there are current, active leases for both units,.

Reviewer Comment (2025-01-26): Documents received, system cleared. Buyer Comment (2025-01-17): Revised appraisal reflecting subject rented. Reviewer Comment (2025-01-10): Lease agreements provided however, appraisal still reflects vacant. Buyer Comment (2024-12-19): Lease agreements uploaded.

01/26/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

556053197

33295331

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Reviewer Comment (2024-12-23): Received final title policy document. Exception cleared.

12/23/2024

1

A

A

A

A

A

A

A

A

A

A

CA

Investment

Purchase

C

B

C

B

A

A

N/A

No

556053197

33295332

Credit

Title

Document Error

Title

The Preliminary title policy is within CA or NV and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

Reviewer Comment (2024-12-23): Received final title policy document. Exception cleared. Buyer Comment (2024-12-18): Final policy attached.

12/23/2024

1

B

A

B

A

B

A

B

A

B

A

CA

Investment

Purchase

C

B

C

B

A

A

N/A

No

556053197

33295334

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Lender approved exception for LTV to [Redacted]%.

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Excellent Credit Management with FICO [Redacted]+

SitusAMC Originator,SitusAMC

Reviewer Comment (2025-03-05): CF Update. Reviewer Comment (2024-12-11): Lender Exception with Compensating Factors provided.

12/11/2024

2

B

B

B

B

B

B

B

B

B

B

CA

Investment

Purchase

C

B

C

B

A

A

N/A

No

556053197

33295335

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

Missing source of fund for Gift. Loan file contains gift, but no evidence of transfer.

Reviewer Comment (2025-01-14): Gift fund is directly paid to title at the close of escrow. Gift fund amount not utilized as the funds to close the transaction. Exception cleared. Buyer Comment (2025-01-09): Based on documentation and information available as of this writing, it appears the gift was not used to contribute to the funds to close this transaction. [Redacted]has removed the gift and still shows[Redacted] months' reserves. Please update assets to match.

01/14/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

B

C

B

A

A

N/A

No

556053197

33295336

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exception allowing borrower living rent free and first time investor.  Rent free letter in file and borrower FICO exceeds minimum of [Redacted].

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Excellent Credit Management with FICO [Redacted]+

SitusAMC Originator,SitusAMC

Reviewer Comment (2025-03-05): CF Update. Reviewer Comment (2024-12-11): Lender Exception with Compensating Factors provided.

12/11/2024

2

B

B

B

B

B

B

B

B

B

B

CA

Investment

Purchase

C

B

C

B

A

A

N/A

No

556053197

33295338

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Lender exception missing for CLTV to [Redacted]%.

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Excellent Credit Management with FICO [Redacted]+

SitusAMC Originator,SitusAMC

Reviewer Comment (2025-03-05): CF Update. Reviewer Comment (2025-01-04): Lender Exception with Compensating Factors. Buyer Comment (2024-12-18): Attached approval including CLTV exception.

03/05/2025

2

C

B

C

B

C

B

C

B

C

B

CA

Investment

Purchase

C

B

C

B

A

A

N/A

No

555659754

33295349

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Initial Business Purpose & Occupancy Affidavit unsigned missing in the file.

Reviewer Comment (2024-12-18): Located on Disclosure Summary

12/18/2024

1

C

A

C

A

C

A

C

A

D

A

IL

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

N/A

No

599653057

33295360

Credit

Documents

Missing Document

Documents

File does not contain documentation from lender/seller confirming the condo is warrantable.

-

Lender approved exception for the subject property identified as a Non-Warrantable Condo.  The compensating factors are substantial cash reserves, FICO over [Redacted], prior homeownership experience and low default risk due to LTV being [Redacted]% lower than matrix.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS)

Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-12-19): Lender Exception with Compensating Factors.

12/19/2024

2

B

B

B

B

B

B

B

B

B

B

SC

Investment

Purchase

B

B

B

B

A

A

N/A

No

522088053

33295371

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

-

The loan file does not document [Redacted] days of sourced/seasoned funds for account ending in [Redacted] as required by guidelines.

Reviewer Comment (2025-01-13): Received additional[Redacted] month bank statement. Verified and updated detail. Exception Cleared. Buyer Comment (2025-01-08): Additional bank statement uploaded. Reviewer Comment (2025-01-02): Required letter of explanation for account -[Redacted]stating new account opened on [Redacted]. Exception remains. Buyer Comment (2024-12-30): Please note, acct referenced is a new account opened on [Redacted] and the source of funds is from the HELOC draw.

01/13/2025

1

C

A

C

A

C

A

C

A

C

A

MD

Investment

Purchase

C

A

C

A

A

A

N/A

No

522088053

33295372

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

The loan file does not document the borrower's ownership percentage in the entity that business funds were used for closing/reserves. Documentation provided only reflects the Borrower as a registered agent.

Reviewer Comment (2025-01-23): Received Employer Identification Number document. Exception cleared. Buyer Comment (2025-01-21): Documentation reflecting borrower is sole member of business. Reviewer Comment (2025-01-07): In article of organization does not specify the ownership percentage for the borrower in Cousin's [Redacted]. However, required document to verify the ownership percentage. Exception Remains Buyer Comment (2025-01-06): Articles of Organization uploaded.

01/23/2025

1

C

A

C

A

C

A

C

A

C

A

MD

Investment

Purchase

C

A

C

A

A

A

N/A

No

518698818

33295379

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: ___                  Disaster End Date: ___ Disaster Name: ___ Disaster Declaration Date: ___

Borrower has owned the subject property for at least [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Property inspected post disaster but pre-FEMA declaration of disaster end date.

Property inspected post disaster but pre-FEMA declaration of disaster end date. Date of disaster: [Redacted]

SitusAMC SitusAMC SitusAMC SitusAMC,Originator

Reviewer Comment (2024-12-20): Property inspected post disaster but pre-FEMA declaration of disaster end date.

12/20/2024

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

502957932

33295396

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: ___                  Disaster End Date: ___ Disaster Name: ___ Disaster Declaration Date: ___

The subject property is located in a FEMA Disaster area. A post-disaster inspection verifying there was no damage to the subject property is required.

Property inspected post disaster but pre-FEMA declaration of disaster end date.

Property inspected post disaster but pre-FEMA declaration of disaster end date. Date of disaster: [Redacted]

SitusAMC,Originator

Reviewer Comment (2025-01-08): Post disaster, pre-end date inspection in file.

01/08/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Purchase

B

B

B

B

A

A

N/A

No

575767163

33295397

Credit

Insurance

Insurance Documentation

Insurance

Rent loss insurance is required on all properties and there is no evidence of this insurance in the file.

File is missing rent loss insurance covering a minimum of 6 months rent for the subject property as required by guidelines.

Reviewer Comment (2025-01-23): Rent loss coverage provided, exception cleared. Buyer Comment (2025-01-13): Proof of rent loss insurance uploaded.

01/23/2025

1

C

A

C

A

C

A

C

A

C

A

IN

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

575767163

33295398

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Minimum Loan Amount discrepancy.

Note loan amount of ___ is less than Guideline minimum loan amount of ___.

Note loan amount of $[Redacted] is less than Guideline minimum loan amount of $[Redacted].

Borrower has owned the subject property for at least [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Seasoned Borrower/Investor whose experience exceeds [Redacted] completed projects. The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Lender Exception with Compensating Factors provided. DSCR >[Redacted]. Prior homeownership experience (No FC or Short Sale).

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator

Reviewer Comment (2025-01-08): Lender exception with compensating factors.

01/08/2025

2

B

B

B

B

B

B

B

B

B

B

IN

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

575767163

33295400

Credit

Credit

Miscellaneous

Credit

Miscellaneous Credit (Non-Material):

Guidelines require an Initial Occupancy and business purpose disclosure and states this is for informational purposes only. Exception is an EV2 and can be elected to waive.

Buyer Comment (2025-02-07): accept

02/07/2025

2

B

B

B

B

B

IN

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

536059974

33295402

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

Source of Funds and Deposit for the Gift is missing from the loan file.

Reviewer Comment (2025-01-31): Wired proof provided for Gift fund. Exception cleared. Buyer Comment (2025-01-29): Proof gift funds were wired directly into escrow uploaded.

01/31/2025

1

C

A

C

A

C

A

C

A

C

A

CT

Investment

Purchase

C

B

C

B

A

A

N/A

No

536059974

33295403

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender approved exception for Borrower's primary residence not being superior to the subject property.  The Guidelines require the Borrower's primary residence to be superior when purchasing a Single family residence.  The compensating factors are the FICO Score over [Redacted] and conservative use of credit.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Conservative use of credit or minimal use of revolving credit. Excellent Credit Management with FICO [Redacted]+

SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2025-01-08): Lender Exception with Compensating Factors provided.

01/08/2025

2

B

B

B

B

B

B

B

B

B

B

CT

Investment

Purchase

C

B

C

B

A

A

N/A

No

536059974

33295404

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender approved exception for the Borrower having unverifiable housing history to cover [Redacted] months as required within the Guidelines. The compensating factors are the FICO Score over [Redacted] and conservative use of credit.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Conservative use of credit or minimal use of revolving credit. Excellent Credit Management with FICO [Redacted]+

SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2025-01-08): Lender Exception with Compensating Factors provided.

01/08/2025

2

B

B

B

B

B

B

B

B

B

B

CT

Investment

Purchase

C

B

C

B

A

A

N/A

No

536059974

33295405

Credit

Guideline

Guideline Issue

Guideline

Borrower is a first time home buyer and ineligible per guidelines.

-

The Borrower is a First Time Homebuyer and Investor.

Reviewer Comment (2025-01-23): Within guidelines. Buyer Comment (2025-01-14): Please note, LTV is at [Redacted]% and borrower is a First Time Investor with a FICO of [Redacted].

01/23/2025

1

C

A

C

A

C

A

C

A

C

A

CT

Investment

Purchase

C

B

C

B

A

A

N/A

No

536059974

33295406

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Gift letter missing Donor's signature on signature line.

Reviewer Comment (2025-02-17): Gift letter with signature provided, exception cleared. Buyer Comment (2025-02-04): Gift letter uploaded.

02/17/2025

1

C

A

C

A

C

A

C

A

C

A

CT

Investment

Purchase

C

B

C

B

A

A

N/A

No

530671011

33295412

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Document: Closing Protection Letter not provided

The Guidelines state that the Closing Protection Letter must be dated within [Redacted] days from Note.  The CPL is missing from the loan file.

Reviewer Comment (2025-01-17): Closing Protection Letter is not require for NY state. Exception Cleared. Buyer Comment (2025-01-14): Could you please review this exception one more time? for the NY title insurance companies are not permitted to issue a CPL. Please see attached screenshot.

01/17/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

C

A

C

A

A

A

N/A

No

547942153

33295424

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Initial Business Purpose Certificate not provided.

Reviewer Comment (2025-01-22): The initial Business Purpose & Occupancy Affidavit for information purpose only provided and associated. Exception cleared. Buyer Comment (2025-01-16): Initial business purpose disclosure uploaded.

01/22/2025

1

C

A

C

A

C

A

C

A

D

A

PA

Investment

Purchase

D

A

D

A

A

A

N/A

No

533318426

33295427

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Twelve months evidence of Primary Rents payable to Private Party or Individual.  There is a Letter from the landlord on Rents received. However, evidence is missing from the loan file.

Reviewer Comment (2025-01-22): Provided Verification of mortgage and LOE of rent payment reflects evidence of Primary Rents from [Redacted] to current and rent $[Redacted]* [Redacted]month = $[Redacted]verified from bank statement. Exception cleared. Buyer Comment (2025-01-17): Please see proof of rent attached. Per LOE from bwr she is paying the rent in advance for the next [Redacted] months also see bank statement for the withdrawals made on [Redacted]

01/22/2025

1

C

A

C

A

C

A

C

A

D

A

NM

Investment

Purchase

D

A

D

A

A

A

N/A

No

533318426

33295428

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Spousal Consent Form not provided

The Spousal Consent Form is missing from the loan file.

Reviewer Comment (2025-01-17): Spousal Consent Form not required for sole and separate (not jointly) and has a previous interspousal Deed, a consent form. Exception Cleared. Buyer Comment (2025-01-15): Please see warranty of Deed attached. Document states that bwr is the sole owner and separate property

01/17/2025

1

C

A

C

A

C

A

C

A

C

A

NM

Investment

Purchase

D

A

D

A

A

A

N/A

No

544851658

33295435

Credit

Asset

Asset Documentation

Asset

Missing Document: Gift Letter not provided

The Gift of Equity Letter is missing from the loan file.

Reviewer Comment (2025-03-10): Lender wishes to accept the post close lender exception for gift letter for gift of equity. Buyer Comment (2025-03-05): Please escalate for review, although the letter is dated post note, all documentation provided is dated prior to note date and references the gift of equity. Reviewer Comment (2025-03-03): Provided Gift Letter is dated [Redacted] which is post note date [Redacted]. Please provide gift of equity letter which is within closing  date, Exception remains. Buyer Comment (2025-02-28): Please see documentation from title reflecting gift of equity included on CD and title docs prior to closing. Reviewer Comment (2025-02-27): Provided Gift Letter is dated [Redacted] which is post note date [Redacted] Exception remains. Buyer Comment (2025-02-25): Gift of equity letter uploaded.

03/10/2025

1

C

A

C

A

C

A

C

A

C

A

GA

Investment

Purchase

C

A

C

A

A

A

N/A

No

544851658

33295436

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Final Application does not say "yes" in section 5A to whether they have a family relationship with the seller. The borrower received a gift of equity from their brother in-law and his wife.

Reviewer Comment (2025-03-14): !003 provided reflecting information regarding relationship to seller. Buyer Comment (2025-03-12): Updated 1003 uploaded.  Please note, it is not required to be re-executed.

03/14/2025

1

A

A

A

A

A

GA

Investment

Purchase

C

A

C

A

A

A

N/A

No

544851658

33295437

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Appraisal states no gifts are being used in this transaction and no mention of the gift of equity.  The borrower received a gift and received a gift of equity.

Reviewer Comment (2025-03-19): Updated 1004 provided. Buyer Comment (2025-03-17): Appraisal reflecting gift of equity uploaded.

03/19/2025

1

A

A

A

A

A

GA

Investment

Purchase

C

A

C

A

A

A

N/A

No

544851658

33295438

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The purchase contract does not mention that the seller is giving the borrower a gift of equity, no addendum found with this information.

Reviewer Comment (2025-03-14): Contract provided reflecting gift of equity, exception cleared. Buyer Comment (2025-03-12): Please see page [Redacted] addressing gift of equity.

03/14/2025

1

A

A

A

A

A

GA

Investment

Purchase

C

A

C

A

A

A

N/A

No

545108221

33295444

Credit

Title

Document Error

Title

The Preliminary title policy is within CA or NV and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The coverage amount is not listed on the Title report.

Reviewer Comment (2025-01-24): Received final title policy. Exception Cleared. Buyer Comment (2025-01-22): Final title policy uploaded.

01/24/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

545108221

33295445

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Reviewer Comment (2025-01-24): Received final title policy. Exception Cleared.

01/24/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

545108221

33295446

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Spousal Consent Form not provided

The Spousal Consent Form is missing from the loan file.

Reviewer Comment (2025-01-24): Received Warranty deeds. Exception Cleared. Buyer Comment (2025-01-22): Warranty deeds uploaded.

01/24/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

545108221

33295447

Credit

Business Purpose

General

Business Purpose

Missing Document: Spousal Consent not provided.

-

The Spousal Consent Form is missing from the loan file.

Reviewer Comment (2025-01-24): Received Warranty deeds. Exception Cleared. Buyer Comment (2025-01-22): Warranty deeds uploaded.

01/24/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

532521318

33295453

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Certificate of Good Standing not provided

Certificate of Good Standing within the loan file does not contain a date of when it was provided.

Reviewer Comment (2025-02-07): Received Certificate of Good Standing exception Cleared. Buyer Comment (2025-02-05): Certificate of GS uploaded. Reviewer Comment (2025-01-29): Provided document is Certificate of Filing. Certificate of Good Standing for [Redacted] is not provided. Exception remains. Buyer Comment (2025-01-28): LLC documentation uploaded.  Please note, EIN documentation reflects borrower is sole member, so operating agreements, articles of organization and corp resolution is not required.

02/07/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

532521318

33295454

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

Operating agreement is missing in the file for [Redacted] to reflect the ownership percentage of the Member.

Reviewer Comment (2025-02-18): Documents received, system cleared. Buyer Comment (2025-02-12): Please note, CPA letter uploaded addresses ownership of [Redacted] Reviewer Comment (2025-02-12): Required operating agreement for [Redacted]. Exception Remains. Buyer Comment (2025-02-10): CPA letter reflecting % of ownership uploaded. Buyer Comment (2025-02-05): Please note, IRS documentation included with upload reflects borrower is sole member. Reviewer Comment (2025-01-29): Operating agreement is required to confirm ownership percentage of the borrower, even if he is sole owner of business. Exception remains. Buyer Comment (2025-01-28): LLC documentation uploaded.  Please note, EIN documentation reflects borrower is sole member, so operating agreements, articles of organization and corp resolution is not required.

02/18/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

532521318

33295455

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

The Article of Organization/Formation is missing from the loan file on the Borrowing Entity.

Reviewer Comment (2025-02-18): Documents received, system cleared. Buyer Comment (2025-02-05): Please note, IRS documentation included with upload reflects borrower is sole member. Reviewer Comment (2025-01-29): Provided document is Certificate of Filing. Articles of Organization for [Redacted] is not provided. Exception remains. Buyer Comment (2025-01-28): LLC documentation uploaded.  Please note, EIN documentation reflects borrower is sole member, so operating agreements, articles of organization and corp resolution is not required.

02/18/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

532521318

33295456

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

The Corporate Resolution for the Borrowing Entity members is missing from the loan file.

Reviewer Comment (2025-02-18): Documents received, system cleared. Buyer Comment (2025-02-05): Please note, IRS documentation included with upload reflects borrower is sole member. Reviewer Comment (2025-01-29): Provided document is Certificate of Filing. Corporate resolution for [Redacted] is not provided. Exception remains. Buyer Comment (2025-01-28): LLC documentation uploaded.  Please note, EIN documentation reflects borrower is sole member, so operating agreements, articles of organization and corp resolution is not required.

02/18/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

553966257

33295458

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Document: Closing Protection Letter not provided

The Guidelines state the Closing Protection Letter must be dated within 90 days prior to Note.  The Closing Protection Letter is missing from the loan file.

Reviewer Comment (2025-01-31): Closing Protection Letter not required for NY state. Exception cleared. Buyer Comment (2025-01-30): This is a Third party origination a CPL is not required for us to provide.

01/31/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

C

A

C

A

A

A

N/A

No

553966257

33295459

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The initial business purpose certification is not in the loan file as required by guidelines.

Reviewer Comment (2025-02-02): Business purpose provided, exception cleared. Buyer Comment (2025-01-26): Please see Initial & final Business purpose attached.

02/02/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

C

A

C

A

A

A

N/A

No

548430551

33295464

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The Borrower is living rent free and is a first time investor which is ineligible per guidelines.

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Prior homeownership experience (No FC or Short Sale).

SitusAMC Originator

Reviewer Comment (2025-01-31): Lender exception with compensating factors. Buyer Comment (2025-01-22): UPE approved PTC by [Redacted] with CFs and mitigating factors uploaded. Reviewer Comment (2025-01-17): Please provide additional compelling compensating factors for consideration of downgrading/waiving exceptions.

01/31/2025

2

C

B

C

B

C

B

C

B

C

B

NJ

Investment

Purchase

C

B

C

B

A

A

N/A

No

548430551

33295465

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

The maximum LTV for a first time investor with a FICO <[Redacted] is [Redacted]%. The subject LTV Is [Redacted]%.

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Prior homeownership experience (No FC or Short Sale).

SitusAMC Originator

Reviewer Comment (2025-01-31): Lender exception with compensating factors. Buyer Comment (2025-01-22): UPE approved PTC by [Redacted] with CFs and mitigating factors uploaded. Reviewer Comment (2025-01-17): Please provide additional compelling compensating factors for consideration of downgrading/waiving exceptions.

01/31/2025

2

C

B

C

B

C

B

C

B

C

B

NJ

Investment

Purchase

C

B

C

B

A

A

N/A

No

548430551

33295466

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

The maximum LTV for a first time investor with a FICO <[Redacted] is [Redacted]%. The subject LTV Is [Redacted]%.

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Prior homeownership experience (No FC or Short Sale).

SitusAMC Originator

Reviewer Comment (2025-01-31): Lender exception with compensating factors. Buyer Comment (2025-01-22): UPE approved PTC by [Redacted] with CFs and mitigating factors uploaded. Reviewer Comment (2025-01-17): Please provide additional compelling compensating factors for consideration of downgrading/waiving exceptions.

01/31/2025

2

C

B

C

B

C

B

C

B

C

B

NJ

Investment

Purchase

C

B

C

B

A

A

N/A

No

525806826

33295469

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Title Error: Title vesting does not concur with deed

Title vesting is in the name of borrower's LLC.  There is a quit claim deed in the file correcting/changing title; however, it is not executed.

Reviewer Comment (2025-02-11): Signed Deed provided. Buyer Comment (2025-01-31): Quit claim deed uploaded.

02/11/2025

1

C

A

C

A

C

A

C

A

C

A

CT

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

521786380

33295476

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Lender approved exception for an In - House [Redacted]% LTV Exception. Borrower has the required Comp Factors from [Redacted]. Substantial Cash reserves, [Redacted] Prior Homeownership Experience (No FC or Short Sale) & [Redacted] Borrower's own funds, no Gifts or DPA. [Redacted] bps applied for the approved exception.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS)

Originator,SitusAMC SitusAMC Originator

Reviewer Comment (2025-01-28): Lender Exception with Compensating Factors.

01/28/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Purchase

B

B

B

B

A

A

N/A

No

521786380

33295477

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Lender approved exception for an In - House [Redacted]% LTV Exception. Borrower has the required Comp Factors from [Redacted]. Substantial Cash reserves, [Redacted] Prior Homeownership Experience (No FC or Short Sale) & [Redacted] Borrower's own funds, no Gifts or DPA. [Redacted] bps applied for the approved exception.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS)

Originator,SitusAMC SitusAMC Originator

Reviewer Comment (2025-01-28): Lender Exception with Compensating Factors.

01/28/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Purchase

B

B

B

B

A

A

N/A

No

554556432

33295479

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Background Check not provided

Fraud Report/Background Check missing from file.

Reviewer Comment (2025-02-03): Received Fraud report document. Verified and updated details. Exception Cleared. Buyer Comment (2025-01-31): Fraud guard uploaded.

02/03/2025

1

C

A

C

A

C

A

C

A

C

A

SC

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

554556432

33295481

Credit

Credit

Credit Documentation

Credit

No evidence of fraud report in file

-

Fraud Report/Background Check missing from file.

Reviewer Comment (2025-02-03): Received Fraud report document. Verified and updated details. Exception Cleared. Buyer Comment (2025-01-31): Fraud guard uploaded.

02/03/2025

1

C

A

C

A

C

A

C

A

C

A

SC

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

554556432

33295482

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Fraud Report/Background Check missing from file.

Reviewer Comment (2025-02-03): Received Fraud report document. Verified and updated details. Exception Cleared. Buyer Comment (2025-01-31): Fraud guard uploaded.

02/03/2025

1

C

A

C

A

C

A

C

A

C

A

SC

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

554556432

33295483

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

The maximum LTV for a cash out refinance with a [Redacted] credit score is [Redacted]%. Subject loan's LTV is [Redacted]%.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Miscellaneous

Prior homeownership experience (No FC or Short Sale).

SitusAMC Originator

Reviewer Comment (2025-01-28): Lender exception with compensating factors.

01/28/2025

2

B

B

B

B

B

B

B

B

B

B

SC

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

554556432

33295484

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

The maximum CLTV for a cash out refinance with a [Redacted] credit score is [Redacted]%. Subject loan's CLTV is [Redacted]%.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Miscellaneous

Prior homeownership experience (No FC or Short Sale).

SitusAMC Originator

Reviewer Comment (2025-01-28): Lender exception with compensating factors.

01/28/2025

2

B

B

B

B

B

B

B

B

B

B

SC

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

545988432

33295500

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Guidelines allow a max of five financed properties and Borrower has nine that exceeds guidelines.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Low default risk with equity, LTV [Redacted]% lower than matrix. Prior homeownershp experience (No FC or Short Sale).

SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator

Reviewer Comment (2025-01-30): Lender exception with compensating factors.

01/30/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

545988432

33295501

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The loan file does not document the Borrower's ownership in the entity that the subject property was vested in at origination.

The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Borrower's Experience/Track Record

Low default risk with equity, LTV [Redacted]% lower than matrix. Prior homeownershp experience (No FC or Short Sale). Documented Investor/Landlord history > [Redacted] years

SitusAMC Originator,SitusAMC SitusAMC Originator Originator

Reviewer Comment (2025-02-21): Lender Exception with Compensating Factors provided. Reviewer Comment (2025-02-20): Lender exception does not address the fact that the property was held in title in a manner not acceptable to Guidelines. Buyer Comment (2025-02-20): Post-closing uw exception for percentage of ownership in business entity at time of origination uploaded Reviewer Comment (2025-02-18): Guidelines allow for properties to held in Trusts and LLCs. Guidelines do not allow for seasoning to be through a Corp/Company. Unable to clear. Buyer Comment (2025-02-14): Stock certificate supporting borrower's ownership interest in business uploaded

02/21/2025

2

C

B

C

B

C

B

C

B

C

B

FL

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

591646474

33295503

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The loan file documents a foreclosure under [Redacted] months which is ineligible per guidelines.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Lender Exception with Compensating Factors provided. Lender Exception with Compensating Factors provided.

Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2025-02-11): Lender Exception with Compensating Factors provided. Buyer Comment (2025-01-31): UPE approved PTC by [Redacted] uploaded. Reviewer Comment (2025-01-28): Provide additional compelling compensating factors for consideration of downgrading/waiving exception.

02/11/2025

2

C

B

C

B

C

B

C

B

C

B

TN

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

546883870

33295507

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

The loan file does not document the ownership percentage of the Borrower in the entity that the property was vested in at the time of origination.

Borrower has owned the subject property for at least [Redacted] years. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Borrower's Experience/Track Record Miscellaneous

Low default risk with substantial equity, LTV [Redacted]% lower than matrix. Documented Investor/Landlord history > [Redacted] years Prior Homeownership Experience (No FC or SS).

SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator Originator

Reviewer Comment (2025-02-21): Lender Exception with Compensating Factors provided. Reviewer Comment (2025-02-20): Lender exception does not address the fact that the property was held in title in a manner not acceptable to Guidelines. Buyer Comment (2025-02-20): Post-closing uw exception for percentage of ownership in business entity at time of origination uploaded Reviewer Comment (2025-02-18): Guidelines allow for properties to held in Trusts and LLCs. Guidelines do not allow for seasoning to be through a Corp/Company. Unable to clear. Buyer Comment (2025-02-14): Stock certificate supporting borrower's ownership interest in business uploaded

02/21/2025

2

C

B

C

B

C

B

C

B

C

B

FL

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

546883870

33295508

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Borrower has [Redacted] Financed Properties (Guidelines allow a max of [Redacted] financed properties for a borrower).

Borrower has owned the subject property for at least [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Borrower's Experience/Track Record Miscellaneous

Low default risk with substantial equity, LTV [Redacted]% lower than matrix. Documented Investor/Landlord history > [Redacted] years Prior Homeownership Experience (No FC or SS).

SitusAMC SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator Originator

Reviewer Comment (2025-04-03): Lender Exception with Compensating Factors provided.

04/03/2025

2

B

B

B

B

B

FL

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

504629974

33295514

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

File is missing evidence of percentage of business ownership for use of funds from [Redacted].

Reviewer Comment (2025-02-18): Documentation adding Borrower to account used for closing provided, exception cleared. Buyer Comment (2025-02-06): [Redacted] is not crediting the [Redacted] account balance to the borrower. Presuming the reason for that is the large deposit, attached is the LOE explaining the deposit. [Redacted] otherwise has the source check already in [Redacted].

02/18/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

B

C

B

A

A

N/A

No

504629974

33295515

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

File is missing evidence of percentage of business ownership for use of funds from [Redacted].

Reviewer Comment (2025-02-27): Funds not required for transaction, exception cleared. Buyer Comment (2025-02-24): It appears this account is not required in order to qualify for the transaction, would removing the account/asset resolve this finding and avoid creating new findings? Reviewer Comment (2025-02-24): Required operating agreement for [Redacted] to verify the ownership of the [Redacted]. Exception Remains. Buyer Comment (2025-02-20): Attached evidence of ownership of business.

02/27/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

B

C

B

A

A

N/A

No

504629974

33295516

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Borrower's own funds percent discrepancy.

File is missing evidence of percentage of business ownership for use of funds from [Redacted].

Reviewer Comment (2025-02-18): Documentation adding Borrower to account used for closing provided, exception cleared. Reviewer Comment (2025-01-28): Please provide additional compelling compensating factors for consideration of downgrading /waiving exception.

02/18/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

B

C

B

A

A

N/A

No

504629974

33295517

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Borrower funds are insufficient to cover reserves. Borrower provided a letter stating they have access to funds from [Redacted] and that their name was added to the account. Statements in file do not have borrower name and lender did not use account to qualify.

Reviewer Comment (2025-02-18): Documentation adding Borrower to account used for closing provided, exception cleared.

02/18/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

B

C

B

A

A

N/A

No

504629974

33295518

Credit

Guideline

Guideline Issue

Guideline

Borrower is a first time home buyer and ineligible per guidelines.

-

The Borrower is living rent free and is a first time investor which is ineligible per guidelines.

Miscellaneous Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted].

Conservative use of credit or minimal use of revolving credit.

Originator SitusAMC SitusAMC

Reviewer Comment (2025-02-27): Lender exception with compensating factors. Buyer Comment (2025-02-20): [Redacted] approved the exception and is not beholden to the exception policy. See attached, "[Redacted] Approval Summary" section. Reviewer Comment (2025-01-28): Please provide additional compelling compensating factors for consideration of downgrading /waiving exception.

02/27/2025

2

C

B

C

B

C

B

C

B

C

B

TX

Investment

Purchase

C

B

C

B

A

A

N/A

No

504629974

33295519

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

The loan file does not document the receipt of the gift funds in the amount $[Redacted]

Reviewer Comment (2025-02-17): Letter of explanation provided. Exception cleared. Buyer Comment (2025-02-13): Attached is documentation showing the borrower was added to the gift origination account ending in [Redacted]. Thus no transfer of funds was necessary when the transaction closed.

02/17/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

B

C

B

A

A

N/A

No

583357383

33295520

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Primary Residence is not superior to the subject property, guidelines require that when purchasing a SFR the borrower's primary be superior to the subject. A signed letter to explain motivation to continue occupying primary residence is required.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Lender Exception with Compensating Factors. - Excellent Credit Management with FICO 720+

Originator,SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2025-01-29): Lender Exception with Compensating Factors.

01/29/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Investment

Purchase

B

B

B

B

A

A

N/A

No

546062765

33295554

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Lender approved exception for LTV to [Redacted]%.  The guidelines have a maximum LTV of [Redacted]% for DSCR <[Redacted].  The compensating factors are reserves and FICO score.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Lender Exception with Compensating Factors provided. Excellent Credit Management with FICO [Redacted]+

Originator,SitusAMC SitusAMC SitusAMC Originator

Reviewer Comment (2025-03-12): Lender Exception with Compensating Factors. Buyer Comment (2025-03-10): Attached. Reviewer Comment (2025-03-05): Closing statement received however, no documentation that the Borrower owned the property for at least 12 months in the most recent [Redacted] months. Buyer Comment (2025-03-03): Borrower is not a first-time investor, having recently sold investment property [Redacted][Redacted]. See attached HUD-1. Original exception is correct. Reviewer Comment (2025-02-13): First time investor with DSCR < [Redacted]is [Redacted]% LTV. Lender Exception states exception is for [Redacted]% LTV.

03/12/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Investment

Purchase

C

B

C

B

A

A

N/A

No

546062765

33295555

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Lender approved exception for CLTV to [Redacted]%.  The guidelines have a maximum CLTV of [Redacted]% for DSCR <[Redacted].  The compensating factors are reserves and FICO score.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Lender Exception with Compensating Factors provided. Excellent Credit Management with FICO [Redacted]+

Originator,SitusAMC SitusAMC SitusAMC Originator

Reviewer Comment (2025-03-12): Lender Exception with Compensating Factors. Buyer Comment (2025-03-10): waterfall Reviewer Comment (2025-03-05): Closing statement received however, no documentation that the Borrower owned the property for at least [Redacted]months in the most recent [Redacted]months. Buyer Comment (2025-03-03): Borrower is not a first-time investor, having recently sold investment property [Redacted]. See attached HUD-1. Original exception is correct. Reviewer Comment (2025-02-13): First time investor with DSCR < [Redacted]is [Redacted]% LTV. Lender Exception states exception is for [Redacted]% LTV. Reviewer Comment (2025-02-13): .First time investor with DSCR < [Redacted]is [Redacted]% LTV. Lender Exception states exception is for [Redacted]% LTV.

03/12/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Investment

Purchase

C

B

C

B

A

A

N/A

No

546062765

33295556

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Document: Closing Protection Letter not provided

The matrix states the Closing Protection Letter must be dated at least [Redacted] days prior to Note.  The Closing Protection Letter is missing from the loan file.

Reviewer Comment (2025-03-05): Closing Protection Letter is not required for NY state. Exception cleared. Buyer Comment (2025-03-04): This is New York loan. They do not provide CPL's, just the E&O for the attorney/title.

03/05/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

C

B

C

B

A

A

N/A

No

578763458

33295561

Credit

Credit

Credit Documentation

Guideline

Aged document: Credit Report  is more than 90 days prior to the note date.

-

Credit Report is more than [Redacted] days prior to the note date.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Lender Exception with Compensating Factors provided. Low default risk with equity, LTV [Redacted]% lower than matrix. Excellent credit management with FICO [Redacted]+.

Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-02-21): Lender Exception with Compensating Factors provided. Buyer Comment (2025-02-19): non-agency loan approval exception for credit report expiration date uploaded

02/21/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Investment

Purchase

C

B

C

B

A

A

N/A

No

578763458

33295562

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The Borrower's primary residence is not superior to the subject.  Guidelines require primary be superior when borrower rents and is purchasing a single family residence.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Lender Exception with Compensating Factors provided. Low default risk with equity, LTV [Redacted]% lower than matrix. Excellent credit management with FICO [Redacted]+.

Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-02-13): Lender exception with compensating factors.

02/13/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Investment

Purchase

C

B

C

B

A

A

N/A

No

578763458

33295564

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The loan file is missing the initial business purpose and certification.

Reviewer Comment (2025-02-21): Document provided. Clear. Buyer Comment (2025-02-19): Initial business purpose disclosure uploaded

02/21/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

C

B

C

B

A

A

N/A

No

549601589

33295566

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender approved exception for multiple properties financed with [Redacted].  Subject is the [Redacted] loan financed with [Redacted].  Borrower has another loan in process.  Current aggregate exposure is $[Redacted]. If both exceptions are approved and loans are approved, aggregate exposure to [Redacted] is $[Redacted]. Compensating factors:  A) Excellent credit management with FICO [Redacted]+; B) Prior homeownership experience (no FC or Short Sale).

Borrower has owned the subject property for at least [Redacted] years. Seasoned Borrower/Investor whose experience exceeds [Redacted] completed projects. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Prior Homeownership Experience (No FC or SS). Excellent Credit Management with FICO [Redacted]+

SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2025-02-13): Lender Exception with Compensating Factors provided.

02/13/2025

2

B

B

B

B

B

B

B

B

B

B

TX

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

586716306

33295573

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender approved exception for multiple financed properties with [Redacted] mortgage services.  The subject loan transaction will be the [Redacted] loan financed with [Redacted].  The Borrower also has another loan in process which will total [Redacted] loans.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Seasoned Borrower/Investor whose experience exceeds [Redacted] completed projects. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

- Excellent Credit Management with FICO 720+ Prior homeownership Experience (No FC or SS)

SitusAMC SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2025-02-13): Lender Exception with Compensating Factors.

02/13/2025

2

B

B

B

B

B

B

B

B

B

B

TX

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

531540916

33295575

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Bylaws not provided

Reviewer Comment (2024-08-14): LOE from borrower provided. Buyer Comment (2024-08-12): Escalation to [Redacted]and [Redacted]as document provided should be sufficient to clear exception Reviewer Comment (2024-08-09): Exception Remains - Required Executed Bylaws document. Provide document is LOE and not Bylaws document. Buyer Comment (2024-08-07): Please see LOE from borrower. Reviewer Comment (2024-03-20): We are looking for a document stating what purpose is the business/entity allowed to operate in, as page [Redacted] of the guidleines states:  Business purpose and activities are limited to ownership and management of real estate. Buyer Comment (2024-03-20): uploaded refinance purpose letter indicates intent to purchase investment property. Emailed letter to XXX for review Reviewer Comment (2024-03-19): Need document describing the business purpose and activities to see if they are acceptable per guidelines. Buyer Comment (2024-03-14): Hello [Redacted], I am asking for an escalation on the outstanding exceptions on this file to provide signed Corporate Resolution and Bylaws. The Guidelines do not require these documents to be signed and dated further these items are only required if applicable not that we must have every document listed in the guideline. Our responsibility is to insure the party of the transaction has the authority to transact on behalf of the business this is demonstrated per the attached documentation that has been provided to the reviewer. Per our legal opinion review of these docs  we have met the  [Redacted] points of ATR documented in the file accordingly. Reviewer Comment (2024-03-07): Per Client request. Buyer Comment (2024-02-21): UTC Reviewer Comment (2024-01-03): Bylaws is required signed by all the members to verify ownership percentage. Exception remains. Buyer Comment (2023-12-29): guideline does not require, see vesting in name of business entity guideline requirements

08/14/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

588001114

33295581

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

The Title Policy Amount of $[Redacted] is less than the note amount of $[Redacted] based on the Commitment in file. Provide updated coverage or final title policy with evidence of sufficient coverage.

Reviewer Comment (2024-07-25): Documents received, system cleared. Buyer Comment (2024-07-23): Policy amount was updated to $[Redacted], see attached closing instructions.

07/25/2024

1

B

A

B

A

B

A

B

A

B

A

FL

Investment

Refinance - Cash-out - Other

B

A

B

A

A

A

N/A

No

599654256

33295582

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Note Addendum - Prepayment not provided

Note Addendum - Prepayment is missing in file.

Reviewer Comment (2024-07-29): Received Note Addendum - Prepayment document. Verified and updated details. Exception Cleared. Buyer Comment (2024-07-26): Please see the Legal Note and Addendum to the Note attached.

07/29/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Refinance - Cash-out - Home Improvement

C

A

C

A

A

A

N/A

Yes

504128784

33295586

Credit

Missing Document

General

Missing Document

Missing Document: Verification of Non-US Citizen Status not provided

1003 notes borrower is a non-permanent resident alien; however, no documentation is provided in file to verify residency status.

Reviewer Comment (2024-07-25): Received 1003 showing correction on the citizen status. Buyer Comment (2024-07-24): Please see final 1003 signed and dated by all borrowers showing correction on the citizen status. also see letter from LP which stated that was a mistake,

07/25/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

A

C

A

A

A

N/A

No

504128784

33295587

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

The subject property is located in a FEMA disaster area. A post disaster inspection verifying there was no damage to the subject property is required.

Reviewer Comment (2024-08-05): Received Property Inspection report in the file. Exception Cleared. Buyer Comment (2024-08-01): Please see the Re-Inspection report attached dated after disaster end date 07[Redacted]29/2024

08/05/2024

1

A

A

A

A

A

TX

Investment

Purchase

C

A

C

A

A

A

N/A

No

538493259

33295627

Credit

Guideline

Guideline Issue

Guideline

Rural property type is not permitted per Guidelines.

Property is considered Ineligible Rural Property by Zip Code (Tier 3). The appraisal considers the property suburban with comps all under 1 mile from the subject. An exception was not given by the lender.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrower has owned the subject property for at least  [Redacted]  years. Borrower has verified disposable income of at least $ [Redacted]

X or more years on the same job with the same employer An additional  [Redacted]  months reserves (in addition to the reserve requirements stated on the program matrix Prior homeownership experience (not resulting in foreclosure or short sale) Residual income exceeds required amount by more than $ [Redacted] Low housing ratio of [Redacted]% or less

Originator,SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2023-06-05): Prior Homeownership Experience (No FC or Short Sale). Reviewer Comment (2023-04-24): Additional comp factors per Originator: Low housing ratio of [Redacted]% or less & Prior Homeownership Experience (No FC or Short Sale) Reviewer Comment (2022-09-15): Prior homeownership experience (not resulting in foreclosure or short sale) X or more years on the same job with the same employer Low housing ratio of [redacted]% or less Residual income exceeds required amount by more than $[redacted] An additional three months reserves (in addition to the reserve requirements stated on the program matrix. Client and lender elect to waive using compensating factors. Seller Comment (2022-09-13): PC Exception Approval uploaded. Reviewer Comment (2022-08-10): Page [Redacted]on guides has zip code Ineligible Rural Properties by Zip Code (Tier [Redacted]). Exception remains Seller Comment (2022-08-09): the attached document shows that the population on that ZIP code shows that property is not located in a rural area. Reviewer Comment (2022-08-04): Lender exception in tailing docs is not for this exception, that exception is for cash out for reserves <[Redacted]. Seller Comment (2022-08-04): Please see attached docs

09/15/2022

2

C

B

C

B

C

B

C

B

C

B

MN

Primary

Refinance - Cash-out - Home Improvement

D

B

D

B

A

A

A

A

Non QM

Non QM

No

538493259

33295629

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

The file was missing a copy of the final title policy.

Reviewer Comment (2022-08-04): Exception cleared. Reviewer Comment (2022-08-04): Exception Explanation Updated from: Title Evidence: Commitment

08/04/2022

1

A

A

A

A

A

A

A

A

A

A

MN

Primary

Refinance - Cash-out - Home Improvement

D

B

D

B

A

A

A

A

Non QM

Non QM

No

538493259

33295630

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Title Error: Title vesting does not concur with deed

The title commitments that vesting in the borrowers name is subject to conditions in a divorce decree recorded [Redacted]  indicating that the borrower was awarded the property clear of the interest of the ex-spouse. The ex spouse is required convey to borrower, by deed. Evidence of an executed deed was not provided.

Reviewer Comment (2022-08-04): Exception cleared. Seller Comment (2022-08-04): Please see attached document. is the final title policy Reviewer Comment (2022-08-04): Please review the title commitment  schedule B part 1 #[Redacted], need copy of the deed. Seller Comment (2022-08-03): Please see attached document for Vesting

08/04/2022

1

C

A

C

A

C

A

C

A

C

A

MN

Primary

Refinance - Cash-out - Home Improvement

D

B

D

B

A

A

A

A

Non QM

Non QM

No

538493259

33295631

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Missing cash out letter.

Reviewer Comment (2022-08-04): Exception cleared. Seller Comment (2022-08-03): Please see attached document for Cash out letter.

08/04/2022

1

C

A

C

A

C

A

C

A

D

A

MN

Primary

Refinance - Cash-out - Home Improvement

D

B

D

B

A

A

A

A

Non QM

Non QM

No

538493259

33295632

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Final 1008 reflects lender granted an exception for to use cash back as reserves and  [Redacted] % =LTV, please provide loan approval with all exceptions so we can add exceptions.

Reviewer Comment (2022-09-15): CPA status provided Seller Comment (2022-09-13): CPA lookup, LTV response and 1008 updated reflecting no exception required for LTV and c/o proceeds to be used as reserves. Reviewer Comment (2022-08-19): Missing CPA active status. Seller Comment (2022-08-16): Please note hat the CPA letter provided, states exactly what you are asking for... The CPA mentions the use of funds from these accounts would not hold negatively  impact the business. Reviewer Comment (2022-08-12): CPA letter in file is missing "the withdrawal of funds for the transaction will not have a negative impact on the business", This is required per guides, Seller Comment (2022-08-12): CPA Letter Reviewer Comment (2022-08-10): Per guides - "For self-employed borrowers, business assets are an acceptable source of funds for down payment, closing costs, and reserves". If we use business assets for reserves the CPA letter in file is missing "the withdrawal of funds for the transaction will not have a negative impact on the business". Seller Comment (2022-08-09): There were no exceptions need on this file due this was a only a deal desk inquiry. the loan met all required approval parameters. please attached document. Reviewer Comment (2022-08-04): Email states "deal desk response comments" - Will be entertained, assuming property does not come back rural, need the standard loan approval on page[Redacted] showing compensating factors and who approved exceptions. Seller Comment (2022-08-03): Please attached document for the UW exception to use cash back as reserves

09/15/2022

1

C

A

C

A

C

A

C

A

C

A

MN

Primary

Refinance - Cash-out - Home Improvement

D

B

D

B

A

A

A

A

Non QM

Non QM

No

533621247

33295661

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Reviewer Comment (2024-07-30): Property inspection report received and updated. Exception cleared. Buyer Comment (2024-07-29): Disaster reinspection report uploaded.

07/30/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

533621247

33295662

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Buyer Comment (2024-06-18): Approve

06/18/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

533621247

33295666

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The CPA letter in file to verify the Borrowers' self employment is not dated.

Reviewer Comment (2024-07-02): Exception cleared - Received proof of CPA document date and updated the clarity. Buyer Comment (2024-06-28): Proof CPA letter received uploaded. Reviewer Comment (2024-06-21): Unable to determine if credit documentation (assets/income) is dated within [Redacted]days of closing as required by Guidelines as CPA letter is not dated. Buyer Comment (2024-06-18): Please note, CPA letter is not dated but guidelines do not require CPA letter to be dated.  There is third party verification dated [Redacted] from opencorporates.com that is dated[Redacted]business days prior to the note date.

07/02/2024

1

B

A

C

A

B

A

C

A

B

A

TX

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM Loan Designation

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

533621247

33295667

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The CPA letter in file to verify the Borrowers' self employment is not dated.

Reviewer Comment (2024-07-02): Exception cleared - Received proof of CPA document date and updated the [Redacted]. Buyer Comment (2024-06-28): Proof CPA letter received uploaded. Reviewer Comment (2024-06-21): Unable to determine if credit documentation (assets/income) is dated within 90 days of closing as required by Guidelines as CPA letter is not dated. Buyer Comment (2024-06-18): Please note, CPA letter is not dated but guidelines do not require CPA letter to be dated.  There is third party verification dated [Redacted] from opencorporates.com that is dated [Redacted]business days prior to the note date.

07/02/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

533621247

33295669

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA - Incorrect Right To Cancel Form Used - H-8 Used on Same Lender Refinance (Circuit 2, 5, 7, 8, 9, 10 or DC)

Truth in Lending Act: Notice of Right to Cancel was not executed on the proper Model Form for a refinancing by the same creditor. The H-8 form was used, the H-9 form should have been used.

Buyer Comment (2024-06-17): Accept

06/17/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

533621247

33295670

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The CPA letter in file to verify the Borrowers' self employment is not dated.

Reviewer Comment (2024-07-02): Exception cleared - Received proof of CPA document date and updated the [Redacted]. Buyer Comment (2024-06-28): Proof CPA letter received uploaded. Reviewer Comment (2024-06-21): Unable to determine if credit documentation (assets/income) is dated within 90 days of closing as required by Guidelines as CPA letter is not dated. Buyer Comment (2024-06-18): Please note, CPA letter is not dated but guidelines do not require CPA letter to be dated.  There is third party verification dated [Redacted] from [Redacted] that is dated [Redacted]business days prior to the note date.

07/02/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

533621247

33295671

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

The CPA letter in file to verify the Borrowers' self employment is not dated.

Reviewer Comment (2024-07-02): Exception cleared - Received proof of CPA document date and updated the clarity. Buyer Comment (2024-06-28): Proof CPA letter received uploaded. Reviewer Comment (2024-06-21): Unable to determine if credit documentation (assets/income) is dated within 90 days of closing as required by Guidelines as CPA letter is not dated. Buyer Comment (2024-06-18): Please note, CPA letter is not dated but guidelines do not require CPA letter to be dated.  There is third party verification dated [Redacted] from [Redacted] that is dated [Redacted]business days prior to the note date.

07/02/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

533621247

33295672

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

The CPA letter in file to verify the Borrowers' self employment is not dated.

Reviewer Comment (2024-07-02): Exception cleared - Received proof of CPA document date and updated the [Redacted]. Buyer Comment (2024-06-28): Proof CPA letter received uploaded. Reviewer Comment (2024-06-21): Unable to determine if credit documentation (assets/income) is dated within 90 days of closing as required by Guidelines as CPA letter is not dated. Buyer Comment (2024-06-18): Please note, CPA letter is not dated but guidelines do not require CPA letter to be dated.  There is third party verification dated [Redacted] from [Redacted] that is dated [Redacted]business days prior to the note date.

07/02/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

544060803

33295705

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Evidence of appraisal delivery not provided.  The version of the acknowledgment of receipt signed at closing has been deemed non-compliant as it does not specify whether borrower is acknowledging receipt of appraisal at least 3 business days prior to closing or has previously waived the delivery timing requirements and has received the appraisal.

Reviewer Comment (2023-06-28): Received evidence of delivery.

06/28/2023

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Refinance - Cash-out - Debt Consolidation

C

B

C

B

C

B

A

A

Non QM

Non QM

No

544060803

33295706

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Considered non-compliant due to missing documentation to evidence delivery of the appraisal to the borrower at least 3 business days prior to closing.

Reviewer Comment (2023-06-28): Received evidence of appraisal delivery.

06/28/2023

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Debt Consolidation

C

B

C

B

C

B

A

A

Non QM

Non QM

No

544060803

33295707

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Evidence of appraisal delivery not provided.  The version of the acknowledgment of receipt signed at closing has been deemed non-compliant as it does not specify whether borrower is acknowledging receipt of appraisal at least 3 business days prior to closing or has previously waived the delivery timing requirements and has received the appraisal.

Reviewer Comment (2023-06-28): Received evidence of appraisal delivery. Buyer Comment (2023-06-24): Proof appraisal delivered to borrower uploaded.

06/28/2023

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Debt Consolidation

C

B

C

B

C

B

A

A

Non QM

Non QM

No

544060803

33295708

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - Affiliated Business Arrangement Disclosure Not Provided Within 3 Business Days of Application

RESPA Disclosure Rule: Creditor did not provide Affiliated Business Arrangement Disclosure to applicant within three (3) business days of application.

Creditor did not provide Affiliated Business Arrangement Disclosure to applicant within three (3) business days of application.

Reviewer Comment (2023-06-28): Received initial disclosure. Buyer Comment (2023-06-24): Initial and final disclosure uploaded.

06/28/2023

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Refinance - Cash-out - Debt Consolidation

C

B

C

B

C

B

A

A

Non QM

Non QM

No

544060803

33295709

Compliance

Compliance

Federal Compliance

RESPA

RESPA -  Initial Escrow Account statement Inaccurate

RESPA: Initial escrow account statement does not match charges on HUD-1/Final Closing Disclosure.

The total for escrow payment at closing on the Post Close CD does not match the initial escrow deposit on the only Initial Escrow Account Disclosure in the file.

Buyer Comment (2023-08-03): *

08/03/2023

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Refinance - Cash-out - Debt Consolidation

If the IEAD is correct and the CD/HUD is incorrect, we require a corrected PCCD/HUD with LOE to borrower to cure. Signature is not required. If the CD/HUD is correct and the IEAD is incorrect, we require LOE and corrected IEAD to cure. Signature is not required.

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

544060803

33295710

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Non Escrow Costs Year 1 Underdisclosed - October 2018

TILA-RESPA Integrated Disclosure - Loan Disclosures: Non Escrowed Property Costs over Year 1 of  on Final Closing Disclosure provided on [Redacted] are underdisclosed.

The appraisal indicates HOA dues of $[Redacted]/month; however, the final Closing Disclosure did not disclose any non-escrowed property costs.

Reviewer Comment (2023-06-26): [Redacted] received post CD and LOX. Buyer Comment (2023-06-24): PCCD uploaded.

06/26/2023

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Debt Consolidation

Letter of Explanation & Corrected Closing Disclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

544060803

33295711

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Timing Before Closing

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on [Redacted] not received by borrower at least four (4) business days prior to closing.

Revised Loan Estimate issued on [Redacted] signed by borrower(s) on [Redacted], which is less than 4 business days prior to the closing date ([Redacted]).

Reviewer Comment (2023-07-14): [Redacted]received proof of earlier receipit/viewing Buyer Comment (2023-07-12): Expedite Audit Cert uploaded reflecting borrower received LE on [Redacted].

07/14/2023

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Debt Consolidation

No Defined Cure

C

B

C

B

C

B

A

A

Non QM

Non QM

No

544060803

33295712

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2023-07-13): [Redacted] Received PCCD, LOE and Payment History Buyer Comment (2023-07-12): PCCD, LOE and payment history reflecting PR uploaded.

07/13/2023

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Debt Consolidation

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

544060803

33295713

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Service Charges.  Fee Amount of $[Redacted] exceeds tolerance of $0.00.  Insufficient or no cure was provided to the borrower.

Fee was not disclosed on the initial Loan Estimate.  Fee is paid to a lender affiliate and a valid change of circumstance not provided for disclosure of new fee nor was there evidence of a tolerance cure.

Reviewer Comment (2023-07-13): [Redacted]Received PCCD, LOE and Payment History Buyer Comment (2023-07-12): PCCD, LOE and payment history reflecting PR uploaded. Reviewer Comment (2023-06-21): [Redacted]Received PCCD, LOE and Payment history showing Principal Reduction $[Redacted]; however, provided Principal reduction is not sufficient to cure all the tolerance exceptions. Exception will be cured once Cure docs or COC received for other tolerance exceptions. Buyer Comment (2023-06-20): Please see attached Disclosure History, PCCD, and Payment History for the PR Cure

07/13/2023

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Debt Consolidation

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

544060803

33295714

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Fee disclosed as $[Redacted] on the Loan Estimate dated [Redacted] but disclosed as $[Redacted] on the Final Closing Disclosure.  A valid change of circumstance not provided for fee increase or evidence of a tolerance cure.

Reviewer Comment (2023-07-13): [Redacted]Received PCCD, LOE and Payment History Buyer Comment (2023-07-12): PCCD, LOE and payment history reflecting PR uploaded.

07/13/2023

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Debt Consolidation

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

544060803

33295715

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Calculated investor qualifying total debt ratio of ___ exceeds Guideline total debt ratio of ___.

Payment for deferred student loan was excluded from lender's calculations, however, no documentation supporting exclusion is provided.

Borrower has verified disposable income of at least $[Redacted]. Borrower has been employed in the same industry for more than [Redacted] years. Miscellaneous

Lender Exception with Compensating Factors. [Redacted] Plus years on the job. Lender Exception with Compensating Factors. Loan Transaction results in total monthly payment savings of $[Redacted] or more per month.

SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2023-08-08): Compensating Factor update. Reviewer Comment (2023-07-14): Lender Exception with Compensating Factors. Buyer Comment (2023-07-12): Post Consummation Exception Approval uploaded.

07/14/2023

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Debt Consolidation

C

B

C

B

C

B

A

A

Non QM

Non QM

No

544060803

33295716

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

Missing source of funds for payoff of [Redacted] auto leases excluded from DTI ([Redacted] #[Redacted] $[Redacted]; [Redacted] #[Redacted] $[Redacted]).

Reviewer Comment (2023-07-14): Evidence liens were paid was provided. Buyer Comment (2023-07-12): Final Settlement Statement reflecting GM paid at closing, credit supplement reflecting Hon Acct Lease turned in uploaded.

07/14/2023

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Debt Consolidation

C

B

C

B

C

B

A

A

Non QM

Non QM

No

544060803

33295717

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The Originator Loan Designation is Non QM.  However, the Due Diligence Loan Designation is ATR Risk due to the following issue(s): Payment for deferred student loan was excluded from lender's calculations, however, no documentation supporting exclusion is provided.

Reviewer Comment (2023-07-14): Non QM Buyer Comment (2023-07-12): Post Consummation Exception Approval uploaded.

07/14/2023

1

B

A

C

A

B

A

C

A

B

A

FL

Primary

Refinance - Cash-out - Debt Consolidation

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

544060803

33295718

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Payment for deferred student loan was excluded from lender's calculations, however, no documentation supporting exclusion is provided.

Reviewer Comment (2023-07-14): Lender Exception with Compensating Factors provided. Buyer Comment (2023-07-12): Post Consummation Exception Approval uploaded.

07/14/2023

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Debt Consolidation

C

B

C

B

C

B

A

A

Non QM

Non QM

No

544060803

33295719

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General ATR Provision Investor and Non QM DTIs match and both significantly exceed Guidelines

Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of [Redacted]% significantly exceeds the guideline maximum of [Redacted]%. (DTI Exception requires compelling compensating factors to consider regrading to EV2-B.)

Payment for deferred student loan was excluded from lender's calculations, however, no documentation supporting exclusion is provided.

Borrower has verified disposable income of at least $[Redacted]. Borrower has been employed in the same industry for more than [Redacted] years. Miscellaneous

Lender Exception with Compensating Factors. [Redacted] Plus years on the job. Lender Exception with Compensating Factors. Loan Transaction results in total monthly payment savings of $[Redacted] or more per month.

SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2023-08-08): Compensating Factor update. Reviewer Comment (2023-07-17): Approved lender exception provided. Buyer Comment (2023-07-12): Post Consummation Exception Approval uploaded.

07/17/2023

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Debt Consolidation

C

B

C

B

C

B

A

A

Non QM

Non QM

No

544060803

33295720

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

Incorrect Right To Cancel Form Used - H-9 Used on Non Same Lender Refinance

Truth in Lending Act: Notice of Right to Cancel was not executed on the proper Model Form for a refinance by a creditor that is not considered the original creditor. The H-9 form was used, the H-8 form should have been used.

Per title commitment, new lender is not prior originating lender.

Reviewer Comment (2023-08-28): Cure documentation received. Reviewer Comment (2023-08-28): re-open to cure instead of clearing. Reviewer Comment (2023-08-24): Trailing [Redacted] Notice of Right to Cancel, Letter of Explanation and Proof of Delivery provided. Buyer Comment (2023-08-22): LOE and proof of delivery uploaded. Reviewer Comment (2023-08-22): Letter of Explanation and Proof of Delivery missing. Buyer Comment (2023-08-18): NORTC re-executed uploaded.

08/28/2023

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Debt Consolidation

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

544060803

33295721

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Underwriting Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Fee was increased from what was originally disclosed and the Change of Circumstance was not specific as to why the fee was changing.  Additionally, there was no evidence of a tolerance cure.

Reviewer Comment (2023-07-13): [Redacted]Received PCCD, LOE and Payment History Buyer Comment (2023-07-12): PCCD, LOE and payment history reflecting PR uploaded.

07/13/2023

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Debt Consolidation

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

586381696

33295765

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Title Evidence: ___

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Borrower has verified disposable income of at least $[Redacted]. Miscellaneous Miscellaneous Miscellaneous Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Substantial Cash Reserves Residual income greater than $[Redacted] [Redacted] plus years on Job Borrowers own funds used for down payment and closing costs( No gifts or DPA)

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator Originator Originator Originator

Reviewer Comment (2024-07-15): Lender Exception with Compensating Factors.

07/15/2024

1

A

A

A

A

A

A

A

A

A

A

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295768

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Lender Credit Tolerance Violation

TILA-RESPA Integrated Disclosure: Zero Percent Tolerance exceeded for Lender Credits. Final Lender Credit of $-[Redacted] is less than amount of binding Lender Credit previously disclosed in the amount of $-[Redacted].

0% Tolerance exceeded for Lender Credits. Final Lender Credit of $-[Redacted]is less than amount of binding Lender Credit previously disclosed in the amount of $-[Redacted].

Reviewer Comment (2024-03-01): [Redacted] received Letter of Explanation,copy of principal reduction on cure  & Corrected CD. Buyer Comment (2024-02-28): PCCD and payment history reflecting PR uploaded.

03/01/2024

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

586381696

33295769

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted]plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

10% Fee Tolerance exceeded. Total amount of $[Redacted]exceeds tolerance of $[Redacted]plus [Redacted]% or $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-02-29): [Redacted] received Letter of Explanation, Payment History and Corrected PCCD. Buyer Comment (2024-02-28): PCCD and payment history reflecting PR uploaded.

02/29/2024

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

586381696

33295770

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-02-01): Appraisal delivery confirmation received. Exception Cleared Buyer Comment (2024-01-31): Appraisal proof of delivery uploaded.

02/01/2024

1

B

A

B

A

B

A

B

A

B

A

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295771

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%. Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2024-02-01): Appraisal delivery confirmation received. Exception Cleared Buyer Comment (2024-01-31): Appraisal proof of delivery uploaded.

02/01/2024

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295772

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-02-01): Appraisal delivery confirmation received. Exception Cleared Buyer Comment (2024-01-31): Appraisal proof of delivery uploaded.

02/01/2024

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295773

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan is defaulting through QM Testing as DTI exceeds guidelines.

Reviewer Comment (2024-07-16): Non-QM loan based on DTI exception waived with compensating factors. Buyer Comment (2024-07-11): Please note, a PC Exception is not necessary.  A license from the authority that governs would supersede and LOE on the nature of business.  In addition, the documentation was obtained prior to close so ATR is not affected. Reviewer Comment (2024-03-29): Lender exception is post close without alternate documentation provided.  Exception remain [Redacted]. Buyer Comment (2024-03-22): All exceptions addressed. Reviewer Comment (2024-02-14): Lender exception received for DTI. ATR still reporting as missing income documentation to clear. Buyer Comment (2024-01-31): UPE approved PTC by [Redacted] for DTI uploaded.

07/16/2024

1

B

A

C

A

B

A

C

A

B

A

NJ

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

586381696

33295774

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General ATR Provision Investor and Non QM DTIs match and both significantly exceed Guidelines

Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of [Redacted]% significantly exceeds the guideline maximum of [Redacted]%. (DTI Exception requires compelling compensating factors to consider regrading to EV2-B.)

The DTI calculated in accordance with the Lenders Guidelines of [Redacted]% significantly exceeds the guideline maximum of [Redacted]%.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Borrower has verified disposable income of at least $[Redacted]. Miscellaneous Miscellaneous Miscellaneous Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Substantial Cash Reserves Residual income greater than $[Redacted] [Redacted] plus years on Job Borrowers own funds used for down payment and closing costs( No gifts or DPA)

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator Originator Originator Originator

Reviewer Comment (2024-07-17): Lender Exception with Compensating Factors. Buyer Comment (2024-01-31): UPE approved PTC by [Redacted] for DTI uploaded.

07/17/2024

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295775

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Calculated investor qualifying total debt ratio of ___ exceeds Guideline total debt ratio of ___.

Calculated investor qualifying total debt ratio of [Redacted]% exceeds Guideline total debt ratio of [Redacted]%.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Borrower has verified disposable income of at least $[Redacted].

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Lender Exception with Compensating Factors.

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2024-02-14): Lender exception in file with compensating factors. Buyer Comment (2024-01-31): UPE approved PTC by [Redacted] for DTI uploaded.

02/14/2024

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295776

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Loan is defaulting to QM Testing, due to borrower's DTI exceeds guidelines of [Redacted]%.

Reviewer Comment (2024-07-15): Documents received, system cleared. Buyer Comment (2024-07-11): Please note, a PC Exception is not necessary.  A license from the authority that governs would supersede and LOE on the nature of business.  In addition, the documentation was obtained prior to close so ATR is not affected. Reviewer Comment (2024-03-29): Lender exception is post close without alternate documentation provided.  Exception remains [Redacted] Buyer Comment (2024-03-22): All exceptions addressed. Reviewer Comment (2024-02-15): Exception remains due to outstanding income documentation. Reviewer Comment (2024-02-15): exception received, this exception  will remain until the income docs issue has been resolved. Buyer Comment (2024-01-31): UPE approved PTC by [Redacted] for DTI uploaded.

07/15/2024

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295777

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Loan file missing evidence the borrower has been self employed for [Redacted] years, the business has been active for [Redacted] years, and the borrower's signature on the P&L. The borrower or tax preparer did not provide a signed letter of explanation describing the nature of the business, how income is generated, and how long the business has been in existence.

Reviewer Comment (2024-03-08): All requirements except required letter provided. Guidelines require : The borrower or tax preparer must provide a signed letter of explanation describing the nature of the business, how income is generated, and how long the business has been in existence. Reviewer Comment (2024-02-14): CPA letter does not state % of ownership as required by guidelines. Buyer Comment (2024-01-31): Signed P&L, third party verification, CPA letter and business license uploaded.

03/08/2024

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295778

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

DTI exceeds Guidelines.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Borrower has verified disposable income of at least $[Redacted].

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Lender Exception with Compensating Factors.

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2024-02-14): Lender exception in file with compensating factors. Buyer Comment (2024-01-31): UPE approved PTC by [Redacted] for DTI uploaded.

02/14/2024

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295779

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Loan file missing evidence the borrower has been self employed for [Redacted] years, the business has been active for [Redacted] years, and the borrower's signature on the P&L. The borrower or tax preparer did not provide a signed letter of explanation describing the nature of the business, how income is generated, and how long the business has been in existence.

Reviewer Comment (2024-07-15): Documents received, system cleared. Buyer Comment (2024-07-11): Please note, a PC Exception is not necessary.  A license from the authority that governs would supersede and LOE on the nature of business.  In addition, the documentation was obtained prior to close so ATR is not affected. Reviewer Comment (2024-03-29): Lender exception is post close without alternate documentation provided.  Exception remains [Redacted] Buyer Comment (2024-03-22): [Redacted] Exception Approval for missing LOE regarding nature of business and income generated.  CPA letter in file states borrower has been in business for over [Redacted] years. Reviewer Comment (2024-03-08): All requirements except required letter provided. Guidelines require : The borrower or tax preparer must provide a signed letter of explanation describing the nature of the business, how income is generated, and how long the business has been in existence. Buyer Comment (2024-03-07): Hello [Redacted], Can you please take a look at this file as we are trying to clear the income exception that is triggering ATR for % of ownership. This is a self employed Nurse licensed under her own name supported by the business license, P&L's and CPA letter she is clearly [Redacted]% owner of herself. Please let me know if you see an issue that does not allow you to clear this file as all ATR requirements were met. Reviewer Comment (2024-02-05): Provided P&L document signed on post note dated. Exception Remains. Reviewer Comment (2024-02-05): CPA Letter and Business License provided updated in clarity. Buyer Comment (2024-01-31): Signed P&L, third party verification, CPA letter and business license uploaded.

07/15/2024

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295780

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Loan file missing evidence the borrower has been self employed for [Redacted] years, the business has been active for [Redacted] years, and the borrower's signature on the P&L. The borrower or tax preparer did not provide a signed letter of explanation describing the nature of the business, how income is generated, and how long the business has been in existence.

Reviewer Comment (2024-07-15): Documents received, system cleared. Buyer Comment (2024-07-11): Please note, a PC Exception is not necessary.  A license from the authority that governs would supersede and LOE on the nature of business.  In addition, the documentation was obtained prior to close so ATR is not affected. Reviewer Comment (2024-03-29): Lender exception is post close without alternate documentation provided.  Exception remains [Redacted]. Buyer Comment (2024-03-22): [Redacted] Exception Approval for missing LOE regarding nature of business and income generated.  CPA letter in file states borrower has been in business for over [Redacted] years. Reviewer Comment (2024-02-14): CPA letter does not state % of ownership as required by guidelines. Buyer Comment (2024-01-31): Signed P&L, third party verification, CPA letter and business license uploaded.

07/15/2024

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295782

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Guidelines require : The borrower or tax preparer must provide a signed letter of explanation describing the nature of the business, how income is generated, and how long the business has been in existence.

Reviewer Comment (2024-07-15): Documents received, system cleared. Buyer Comment (2024-07-11): Please note, a PC Exception is not necessary.  A license from the authority that governs would supersede and LOE on the nature of business.  In addition, the documentation was obtained prior to close so ATR is not affected. Reviewer Comment (2024-03-29): Lender exception is post close without alternate documentation provided.  Exception remains [Redacted]. Buyer Comment (2024-03-22): [Redacted] Exception Approval for missing LOE regarding nature of business and income generated.  CPA letter in file states borrower has been in business for over [Redacted]years.

07/15/2024

1

A

A

A

A

A

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

586381696

33295783

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing LOE describing nature of business/income generated.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Borrower has verified disposable income of at least $[Redacted]. Miscellaneous Miscellaneous Miscellaneous Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Substantial Cash Reserves Residual income greater than $[Redacted] [Redacted] plus years on Job Borrowers own funds used for down payment and closing costs( No gifts or DPA)

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator Originator Originator Originator

Reviewer Comment (2024-08-30): Lender Exception with Compensating Factors.

08/30/2024

2

B

B

B

B

B

NJ

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

555128687

33295842

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

The subject property is located in a FEMA disaster area. A post disaster inspection verifying there was no damage to the subject property is required.

Reviewer Comment (2024-08-21): Received clear inspection. Buyer Comment (2024-08-21): This inspection report is dated [Redacted] It is [Redacted]days old. There are no more recent inspection reports. Please clear this finding. Reviewer Comment (2024-08-21): Most recent inspection report require , Exception remains Buyer Comment (2024-08-20): Subject no longer damaged.

08/21/2024

1

C

A

C

A

C

A

C

A

C

A

IA

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

555128687

33295844

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Appraisal report dated [Redacted] is missing evidence of receipt.

Reviewer Comment (2024-08-12): Received Disclosure Summary for appraisal delivery. Exception cleared. Buyer Comment (2024-08-06): Attached log of electronic delivery.

08/12/2024

1

B

A

B

A

B

A

B

A

B

A

IA

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

555128687

33295846

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The loan file is missing [Redacted] years business license and/or a CPA letter to verify two years self employment as required by guidelines.

Reviewer Comment (2024-08-12): Received lender correspondence to verify [Redacted] years of self employment and also, verbal verification of employment and written verification of employment are already provided in file to support [Redacted]years self employment history. Exception cleared. Buyer Comment (2024-08-06): Response attached to exception ID [Redacted].

08/12/2024

1

B

A

C

A

B

A

C

A

B

A

IA

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

555128687

33295847

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The loan file is missing [Redacted] years business license and/or a CPA letter to verify two years self employment as required by guidelines.

Reviewer Comment (2024-08-08): The 1099 contract business has been verified from independent contract agreement document and from [Redacted] years of w-2 transcript. Exception cleared Buyer Comment (2024-08-06): Response attached to exception ID [Redacted].

08/08/2024

1

C

A

C

A

C

A

C

A

C

A

IA

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

555128687

33295848

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The loan file is missing [Redacted] years business license and/or a CPA letter to verify two years self employment as required by guidelines.

Reviewer Comment (2024-08-12): Received lender correspondence to verify [Redacted] years of self employment and also, verbal verification of employment and written verification of employment are already provided in file to support[Redacted] years self employment history. Exception cleared. Buyer Comment (2024-08-06): Response attached to exception ID [Redacted].

08/12/2024

1

C

A

C

A

C

A

C

A

C

A

IA

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

555128687

33295849

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

The loan file is missing [Redacted] years business license and/or a CPA letter to verify two years self employment as required by guidelines.

Reviewer Comment (2024-08-08): The 1099 contract business has been verified from independent contract agreement document and from [Redacted] years of w-2 transcript. Exception cleared Buyer Comment (2024-08-06): The borrower is an independent contractor and in an industry that does not require a business license or CPA. Instead, the borrower provided his original contract with the company utilizing his services to satisfy the third party verification of his business duration, on top of the completion of the written VOE form. These are sufficient to satisfy the requirement for 1099 income documentation.

08/08/2024

1

C

A

C

A

C

A

C

A

C

A

IA

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

555128687

33295850

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

The loan file is missing [Redacted] years business license and/or a CPA letter to verify two years self employment as required by guidelines.

Reviewer Comment (2024-08-08): The 1099 contract business has been verified from independent contract agreement document and from [Redacted] years of w-2 transcript. Exception cleared Buyer Comment (2024-08-06): Response attached to exception ID [Redacted].

08/08/2024

1

C

A

C

A

C

A

C

A

C

A

IA

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

520324277

33295858

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Subjject propperty is rural on appraisal, subject is not a tier [Redacted] zip code list.  Appraiser indicates [Redacted]% of the neighborhood is SFR land use.  [Redacted] out of [Redacted] utilities are public.  Comparables are located at reasonable distance for [Redacted] : ranging from .[Redacted]miles to [Redacted] miles.  Appraiser states neighborhood has seen signifcant growth and slowly changing fro

Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS) Low housing ratio of [Redacted]% or less

SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-11-21): CF Update. Reviewer Comment (2024-08-02): Lender Exception with Compensating Factors.

08/02/2024

2

B

B

B

B

B

B

B

B

B

B

OH

Primary

Refinance - Cash-out - Debt Consolidation

B

B

B

B

A

A

A

A

Non QM

Non QM

No

596876526

33295862

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

[Redacted]% tolerance was exceeded by $[Redacted]due to Increase of Recording Fee.  No valid COC provided, nor evidence of cure in file.

Reviewer Comment (2024-09-06): [Redacted]received PCCD, LOE, proof of mailing & copy of refund check. Buyer Comment (2024-09-04): PCCD, LOE, cure check and proof of delivery uploaded.

09/06/2024

2

C

B

C

B

C

B

C

B

C

B

CT

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

596876526

33295864

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

No cure or changed circumstance provided.

Reviewer Comment (2024-09-06): [Redacted]received PCCD, LOE, copy of refund check and proof of mailing Buyer Comment (2024-09-04): PCCD, LOE, cure check and proof of delivery uploaded.

09/06/2024

2

C

B

C

B

C

B

C

B

C

B

CT

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

559286059

33295873

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception requested allowing 2 individuals on the bank statements used for income with only one individual on the loan (Guidelines require all individuals on the bank statements to be on the loan).

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly mortgage payment has decreased by at least [Redacted]%. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS)

Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator

Reviewer Comment (2024-08-08): Lender Exception with Compensating Factors.

08/08/2024

2

B

B

B

B

B

B

B

B

B

B

VA

Primary

Refinance - Rate/Term

B

B

B

B

B

B

A

A

Non QM

Non QM

No

559286059

33295874

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

Lender exception requested allowing 2 individuals on the bank statements used for income with only one individual on the loan (Guidelines require all individuals on the bank statements to be on the loan).

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly mortgage payment has decreased by at least [Redacted]%. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS)

Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator

Reviewer Comment (2024-08-08): Lender Exception with Compensating Factors.

08/08/2024

2

B

B

B

B

B

B

B

B

B

B

VA

Primary

Refinance - Rate/Term

B

B

B

B

B

B

A

A

Non QM

Non QM

No

559286059

33295875

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation ([Redacted]) to applicant three ([Redacted]) business days prior to consummation.

Buyer Comment (2024-08-13): accept

08/13/2024

2

B

B

B

B

B

B

B

B

B

B

VA

Primary

Refinance - Rate/Term

B

B

B

B

B

B

A

A

Non QM

Non QM

No

505416737

33295878

Compliance

Compliance

Federal Compliance

TRID

TRID Settlement Service Provider Status

TILA-RESPA Integrated Disclosure: Borrower not provided with list of service providers.

Borrower not provided with list of service providers.

Reviewer Comment (2024-08-23): [Redacted]received Settlement service provider list.

08/23/2024

1

A

A

A

A

A

A

A

A

A

A

NY

Primary

Refinance - Cash-out - Other

No Defined Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

505416737

33295879

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted]. Insufficient or no cure was provided to the borrower

Reviewer Comment (2024-08-23): [Redacted] received Settlement service provider list, and the fee is within tolerance limit. Buyer Comment (2024-08-21): Attached. Reviewer Comment (2024-08-21): [Redacted]received Attestation letter. However, [Redacted]is unable to determine from the file whether the borrower shopped for service. The file does not contain a "SSPL".  Tolerance category will be reevaluated when SPPL is received. Buyer Comment (2024-08-20): Attestation attached. Reviewer Comment (2024-08-19): [Redacted]received rebuttal for fee name change from LE to CD. Please provide an attestation from lender explaining the purpose of the fee are same for Attorney fee and Settlement fee and why the fee name changed from LE to CD. Buyer Comment (2024-08-16): [Redacted] disclosed a $[Redacted]title attorney fee with the initial LE; this is a New York property, meaning this is a fee for closing/settlement services. The settlement fee at closing was $[Redacted], $[Redacted]below the disclosed amount. [Redacted] did not include the attorney fee in the [Redacted]% tolerance results.

08/23/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

551235996

33295926

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].

Reviewer Comment (2024-08-07): Sufficient Cure Provided At Closing

08/07/2024

1

A

A

A

A

A

A

A

A

A

A

NY

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

B

A

A

A

B

A

A

A

Non QM

Non QM

Yes

551235996

33295928

Compliance

Compliance

Federal Compliance

Missing Non-Required Data

(Missing Data) Last Rate Set Date

Last Date Rate Set and Initial Rate Lock Date not provided.  Worst Case Scenario between Creditor Application Date and Transaction Date used to determine rate used for testing.

The Rate Lock Confirmation date is missing from the loan file.  The Changed Circumstance form does not reflect the actual date rate was locked.

Reviewer Comment (2024-08-22): Documents received, system cleared. Buyer Comment (2024-08-16): attached

08/22/2024

1

B

A

B

A

B

A

B

A

B

A

NY

Primary

Refinance - Cash-out - Other

B

A

A

A

B

A

A

A

Non QM

Non QM

No

559977576

33295932

Compliance

Compliance

Federal Compliance

RESPA

RESPA -  Initial Escrow Account statement Inaccurate

RESPA: Initial escrow account statement does not match charges on HUD-1/Final Closing Disclosure.

Final CD [Redacted] page [Redacted] indicates a total initial escrow payment at closing of $[Redacted] and Post close CD [Redacted] indicates in page 4 as $[Redacted] which does not matches with the Initial Escrow Account Disclosure which reflects an initial deposit of $[Redacted]

Buyer Comment (2024-08-26): Accept Reviewer Comment (2024-08-23): Please provide corrected Initial Escrow Account Disclosure and LOE to the borrower, signature is not required. Buyer Comment (2024-08-16): This is a variance of $[Redacted] in an escrow account for which the borrower will receive a refund for overpayment.

08/26/2024

2

B

B

B

B

B

B

B

B

B

B

KY

Primary

Refinance - Cash-out - Other

If the IEAD is correct and the CD/HUD is incorrect, we require a corrected PCCD/HUD with LOE to borrower to cure. Signature is not required. If the CD/HUD is correct and the IEAD is incorrect, we require LOE and corrected IEAD to cure. Signature is not required.

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

559977576

33295933

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

The CD issued [Redacted] does not have the correct amounts entered in the "Calculating Cash to Close" section. This section indicates the borrower is required to bring $[Redacted] to close and no assets are provided in the file. Borrower short cash to close. Please provide corrected CD.

Reviewer Comment (2024-08-19): PCCD received with corrected cash to close & associated. Exception cleared. Buyer Comment (2024-08-16): Correction attached.

08/19/2024

1

C

A

C

A

C

A

C

A

C

A

KY

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

559977576

33295934

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Insufficient reserves.

Reviewer Comment (2024-08-19): PCCD received with corrected cash to close & associated. Exception cleared. Buyer Comment (2024-08-16): See corrected CD attached to exception ID [Redacted].

08/19/2024

1

C

A

C

A

C

A

C

A

C

A

KY

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

559977576

33295935

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

The CD issued [Redacted] does not have the correct amounts entered in the "Calculating Cash to Close" section. This section indicates the borrower is required to bring $[Redacted] to close and no assets are provided in the file. As a result Borrower short cash to close and reserves. Please provide corrected CD.

Reviewer Comment (2024-08-19): PCCD received with corrected cash to close & associated. Exception cleared. Buyer Comment (2024-08-16): See corrected CD attached to exception ID [Redacted].

08/19/2024

1

C

A

C

A

C

A

C

A

C

A

KY

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

559977576

33295936

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The CD issued [Redacted] does not have the correct amounts entered in the "Calculating Cash to Close" section. This section indicates the borrower is required to bring $[Redacted] to close and no assets are provided in the file. As a result Borrower short cash to close and reserves. Please provide corrected CD.

Reviewer Comment (2024-08-19): PCCD received with corrected cash to close & associated. Exception cleared. Buyer Comment (2024-08-16): See corrected CD attached to exception ID [Redacted].

08/19/2024

1

B

A

C

A

B

A

C

A

B

A

KY

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM Loan Designation

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

559977576

33295937

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The CD issued [Redacted] does not have the correct amounts entered in the "Calculating Cash to Close" section. This section indicates the borrower is required to bring $[Redacted] to close and no assets are provided in the file. As a result Borrower short cash to close and reserves. Please provide corrected CD.

Reviewer Comment (2024-08-19): PCCD received with corrected cash to close & associated. Exception cleared. Buyer Comment (2024-08-16): See corrected CD attached to exception ID [Redacted].

08/19/2024

1

C

A

C

A

C

A

C

A

C

A

KY

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

559977576

33295938

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The CD issued [Redacted] does not have the correct amounts entered in the "Calculating Cash to Close" section. This section indicates the borrower is required to bring $[Redacted] to close and no assets are provided in the file. As a result Borrower short cash to close and reserves. Please provide corrected CD.

Reviewer Comment (2024-08-19): PCCD received with corrected cash to close & associated. Exception cleared. Buyer Comment (2024-08-16): See corrected CD attached to exception ID [Redacted].

08/19/2024

1

C

A

C

A

C

A

C

A

C

A

KY

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

560366770

33295953

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification of appraisal was delivered to borrower was not provided

Reviewer Comment (2024-09-05): Documents received, system cleared Buyer Comment (2024-08-27): Attached

09/05/2024

1

B

A

B

A

B

A

B

A

B

A

IL

Investment

Purchase

C

B

C

B

C

A

A

A

Non QM

N/A

No

560366770

33295954

Credit

Asset

Asset Calculation / Analysis

Asset

Guideline Requirement: Available for Reserves discrepancy.

Calculated Available for Reserves of $[Redacted] is less than Guideline Available for Reserves of $[Redacted] .

Reviewer Comment (2024-09-05): System cleared. Reviewer Comment (2024-08-29): Exception remains. Received asset verification report and updated correctly, still not enough to meet Reserves requirement. Buyer Comment (2024-08-28): The guideline requirement adds [Redacted]additional months of reserves per additional property owned, so the required reserves would be [Redacted]months rather than [Redacted], or $[Redacted]. The borrower has $[Redacted]in reserves after paying the funds to close. AMC is not using the most recent balance for XXX, which should be $[Redacted]using [Redacted]% of the verified balance on the attached. AMC is also excluding the business account ending in [Redacted], documentation of ownership by the borrower is attached. Reviewer Comment (2024-08-28): Please provide additional funds to meet reserve requirement subject property is investment "Multiple Financed Properties: [Redacted] months for each additional property when the subject is a Second Home or Investment Property", Exception remains. Buyer Comment (2024-08-27): Please clarify, as this amount would represent [Redacted]months reserves based on PITIA. The loan amount is less than $[Redacted] and it is not interest only, so the required reserves should be[Redacted] months.

09/05/2024

1

C

A

C

A

C

A

C

A

C

A

IL

Investment

Purchase

C

B

C

B

C

A

A

A

Non QM

N/A

No

560366770

33295955

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

Insufficient reserves.  [Redacted] months required and only [Redacted] months verified.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Prior homeownership (No FC or SS) Low housing ratio of [Redacted]% or less.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-09-19): Lender Exception with Compensating Factors. Buyer Comment (2024-09-11): Attached is a post-closing exception for the reserves less than [Redacted] months, loan has multiple compensating factors. Reviewer Comment (2024-09-05): All of our assets match up and verified.  The difference in your required funds to close and ours is we are including the $[Redacted]in POC's and you are not.  I did not find any proof that borrower paid these invoices and cannot exclude.  This is the reason we are short in reserves. Reviewer Comment (2024-08-29): Exception remains. Received asset verification report and updated correctly, still not enough to meet Reserves requirement. Buyer Comment (2024-08-28): Please see response attached to exception ID [Redacted]. Reviewer Comment (2024-08-28): Please provide additional funds to meet reserve requirement subject property is investment "Multiple Financed Properties: 2 months for each additional property when the subject is a Second Home or Investment Property", Exception remains. Buyer Comment (2024-08-27): Please clarify, as this amount would represent [Redacted]months reserves based on PITIA. The loan amount is less than $[Redacted]and it is not interest only, so the required reserves should be [Redacted] months.

09/19/2024

2

C

B

C

B

C

B

C

B

C

B

IL

Investment

Purchase

C

B

C

B

C

A

A

A

Non QM

N/A

No

560366770

33295956

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Insufficient reserves.  [Redacted] months required and only [Redacted] months verified.

Reviewer Comment (2024-09-19): Lender Exception with Compensating Factors. System cleared. Buyer Comment (2024-09-11): Post-closing exception attached to exception ID [Redacted]. Reviewer Comment (2024-09-05): All of our assets match up and verified.  The difference in your required funds to close and ours is we are including the $[Redacted]in POC's and you are not.  I did not find any proof that borrower paid these invoices and cannot exclude.  This is the reason we are short in reserves. Buyer Comment (2024-08-28): Please see response attached to exception ID [Redacted]. Reviewer Comment (2024-08-28): Please provide additional funds to meet reserve requirement subject property is investment "Multiple Financed Properties: 2 months for each additional property when the subject is a Second Home or Investment Property", Exception remains. Buyer Comment (2024-08-27): Please clarify, as this amount would represent [Redacted]months reserves based on PITIA. The loan amount is less than $[Redacted] and it is not interest only, so the required reserves should be [Redacted] months.

09/19/2024

1

C

A

C

A

C

A

C

A

C

A

IL

Investment

Purchase

C

B

C

B

C

A

A

A

Non QM

N/A

No

560366770

33295957

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Insufficient reserves.  [Redacted] months required and only [Redacted] months verified.

Reviewer Comment (2024-09-19): Lender Exception with Compensating Factors. System cleared. Buyer Comment (2024-09-11): Post-closing exception attached to exception ID [Redacted]. Reviewer Comment (2024-09-05): All of our assets match up and verified.  The difference in your required funds to close and ours is we are including the $[Redacted]in POC's and you are not.  I did not find any proof that borrower paid these invoices and cannot exclude.  This is the reason we are short in reserves. Buyer Comment (2024-08-28): Please see response attached to exception ID [Redacted]. Reviewer Comment (2024-08-28): Please provide additional funds to meet reserve requirement subject property is investment "Multiple Financed Properties: [Redacted] months for each additional property when the subject is a Second Home or Investment Property", Exception remains. Buyer Comment (2024-08-27): Please clarify, as this amount would represent [Redacted]months reserves based on PITIA. The loan amount is less than $[Redacted]and it is not interest only, so the required reserves should be[Redacted] months.

09/19/2024

1

C

A

C

A

C

A

C

A

C

A

IL

Investment

Purchase

C

B

C

B

C

A

A

A

Non QM

N/A

No

560366770

33295958

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.

All of our assets match up and verified.  The difference in your required funds to close and ours is we are including the $[Redacted] in POC's and you are not.  I did not find any proof that borrower paid these invoices and cannot exclude.  This is the reason we are short in reserves.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Prior homeownership (No FC or SS) Low housing ratio of [Redacted]% or less.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-09-19): Lender Exception with Compensating Factors. Buyer Comment (2024-09-11): Post-closing exception attached to exception ID [Redacted].

09/19/2024

2

B

B

B

B

B

IL

Investment

Purchase

C

B

C

B

C

A

A

A

Non QM

N/A

No

550655922

33295964

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee. Fee Amount of $[Redacted]exceeds tolerance of $[Redacted] with no valid change of circumstance. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-08-29): [Redacted] received Letter of Explanation and Corrected CD. Buyer Comment (2024-08-27): Already cured, see attached documentation.

08/29/2024

2

C

B

C

B

C

B

C

B

C

B

TX

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

550655922

33295965

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Credit Report Fee. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted] without a valid change of circumstance. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-08-29): [Redacted] received Letter of Explanation and Corrected CD. Buyer Comment (2024-08-27): Already cured, see documentation attached to exception ID [Redacted].

08/29/2024

2

C

B

C

B

C

B

C

B

C

B

TX

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

550655922

33295966

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted] .

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Borrower has a clean housing payment history Miscellaneous

[Redacted]+ years on job.. Residual income > $[Redacted]. Prior homeownership experience (No FC or Short Sale). Low housing ratio of [Redacted]% or less.

Originator,SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-09-05): Lender Exception with Compensating Factors. Buyer Comment (2024-08-28): Attached is a post-closing exception allowing [Redacted]% use of the business assets. File already has sufficient compensating factors, and the access letter shows this was the intent. Reviewer Comment (2024-08-28): According to the guideline business asset must be multiplied by the borrower's ownership percentage of the business. As the borrower is [Redacted]% owner of the business in file, so the business asset must be captured as [Redacted]%. Exception remains. Buyer Comment (2024-08-27): Attached, page [Redacted], the borrower has [Redacted]% access to the funds in the business account ending in [Redacted]with balance $[Redacted]. This should be included in the available reserves.

09/05/2024

2

C

B

C

B

C

B

C

B

C

B

TX

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

550655922

33295967

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted].

Reviewer Comment (2024-09-05): Lender Exception with Compensating Factors, system cleared. Buyer Comment (2024-08-27): See response to exception ID [Redacted].

09/05/2024

1

B

A

C

A

B

A

C

A

B

A

TX

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

550655922

33295968

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted].

Reviewer Comment (2024-09-05): Lender Exception with Compensating Factors, system cleared. Buyer Comment (2024-08-27): See response to exception ID [Redacted].

09/05/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

550655922

33295969

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Excessive NSFs, guidelines allow for [Redacted] and Borrower has [Redacted].

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Borrower has a clean housing payment history Miscellaneous

[Redacted]+ years on job.. Residual income > $[Redacted]. Prior homeownership experience (No FC or Short Sale). Low housing ratio of [Redacted]% or less.

Originator,SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-08-19): Lender exception with compensating factors.

08/19/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

550655922

33295970

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-08-28): Borrower waived right to receive a copy of the appraisal at least [Redacted]business days prior to closing. Exception cleared. Buyer Comment (2024-08-27): See response to exception ID [Redacted].

08/28/2024

1

B

A

B

A

B

A

B

A

B

A

TX

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

550655922

33295971

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2024-09-18): Documents received, system cleared. Buyer Comment (2024-09-09): See attached to exception ID [Redacted]. Reviewer Comment (2024-09-05): The loan file does not document delivery of the [Redacted] appraisal to the Borrower. Buyer Comment (2024-08-27): See response to exception ID [Redacted].

09/18/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

550655922

33295972

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-09-18): Documents received, system cleared. Buyer Comment (2024-09-09): Attached, [Redacted] received the [Redacted] appraisal on [Redacted] and sent to the borrower on [Redacted]. Reviewer Comment (2024-09-05): The loan file does not document delivery of the [Redacted]appraisal to the Borrower. Buyer Comment (2024-08-27): The borrower waived the timing requirement, see attached.

09/18/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

550655922

33295973

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Excessive NSFs and the borrower is short reserves.

Reviewer Comment (2024-09-05): Lender Exception with Compensating Factors, system cleared. Buyer Comment (2024-08-27): See response to exception ID [Redacted]regarding reserves, NSFs were addressed with an exception prior to close.

09/05/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

550655922

33295974

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

Calculated PITIA months reserves of [Redacted] is less than guideline requirement of [Redacted] months.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Borrower has a clean housing payment history Miscellaneous

[Redacted]+ years on job.. Residual income > $[Redacted]. Prior homeownership experience (No FC or Short Sale). Low housing ratio of [Redacted]% or less.

Originator,SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-09-05): Lender Exception with Compensating Factors. Buyer Comment (2024-08-28): See post-closing exception attached to finding [Redacted]. Reviewer Comment (2024-08-28): According to the guideline business asset must be multiplied by the borrower's ownership percentage of the business. As the borrower is [Redacted]% owner of the business in file, so the business asset must be captured as [Redacted]%. Exception remains. Buyer Comment (2024-08-27): See response to exception ID [Redacted].

09/05/2024

2

C

B

C

B

C

B

C

B

C

B

TX

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

550655922

33295975

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

Excessive overdrafts (Guidelines allow for [Redacted] Borrower has [Redacted]).

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Borrower has a clean housing payment history Miscellaneous

[Redacted]+ years on job.. Residual income > $[Redacted]. Prior homeownership experience (No FC or Short Sale). Low housing ratio of [Redacted]% or less.

Originator,SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-08-19): Lender exception with compensating factors.

08/19/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

550655922

33295976

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

Borrower waived right to receive a copy of the appraisal at least three business days prior to closing, and appraisal was not provided at or before closing.

Buyer Comment (2024-09-11): Approve

09/11/2024

2

B

B

B

B

B

TX

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

550655922

33295977

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2024-08-29): Sufficient Cure Provided within [Redacted] Days of Closing

08/29/2024

1

A

A

A

A

A

TX

Primary

Purchase

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

550655922

33295978

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2024-08-29): Sufficient Cure Provided within [Redacted] Days of Closing

08/29/2024

1

A

A

A

A

A

TX

Primary

Purchase

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

521248415

33295995

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Borrower does not have a [Redacted] year history of being self-employed (guidelines require a minimum of [Redacted] years self-employment, borrower has been self-employed since [Redacted])

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous Miscellaneous

Prior homeownership Experience (No FC or SS) Borrower's own funds used for down payment and closing (not gifts or DPA) Conservative use of credit or minimal use of revolving credit.

SitusAMC SitusAMC SitusAMC SitusAMC Originator Originator Originator

Reviewer Comment (2024-08-19): Lender Exception with Compensating Factors.

08/19/2024

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

537297820

33295997

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Reinspection Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

A Reinspection Fee of $[Redacted] was added without a valid change of circumstance. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-09-05): [Redacted] received PCCD, Letter of Explanation and Payment history for the evidence of Principal Reduction resulting in a cured the exception. Buyer Comment (2024-09-04): PCCD and payment history reflecting PR uploaded.

09/05/2024

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

551702033

33295999

Compliance

Compliance

Federal Compliance

FACTA

FACTA Disclosure Missing

FACTA Disclosure Rule: Creditor did not provide FACTA Credit Score Disclosure.

Creditor did not provide FACTA Credit Score Disclosure.

Reviewer Comment (2024-08-22): Exception cleared. Received FACTA Disclosure and updated correctly. Buyer Comment (2024-08-21): Please see FACTA Credit Score Disclosure attached.

08/22/2024

1

B

A

B

A

B

A

B

A

B

A

NY

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

551702033

33296001

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Reinspection Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Reinspection Fee of $[Redacted] was not disclosed on Loan Estimate. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-09-06): [Redacted]received PCCD, Letter of Explanation and Payment history for the evidence of Principal Reduction resulting in a cured the exception. Buyer Comment (2024-09-05): PCCD and payment history reflecting PR uploaded.

09/06/2024

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

549587930

33296018

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

The Initial Closing Disclosure issued on [Redacted] does not reflect a Credit Re-Issue fee.  The revised Closing Disclosure issued on [Redacted] reflects a $[Redacted]Credit re-issue fee.  The loan file does not contain evidence of a Changed Circumstance dated within three days of the issue of the Closing Disclosure adding the fee.  The final signed and dated Closing Disclosure does not contain evidence of a Tolerance cure.

Reviewer Comment (2024-09-05): [Redacted]received PCCD, LOE and payment history for principal reduction of cure. Buyer Comment (2024-09-04): PCCD and payment history reflecting PR uploaded.

09/05/2024

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

548676663

33296028

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

Reviewer Comment (2024-09-05): Document received to verify UCDP score and updated. Exception cleared. Buyer Comment (2024-09-04): Appraisal review CU uploaded.

09/05/2024

1

D

A

D

A

D

A

D

A

D

A

NJ

Primary

Refinance - Cash-out - Home Improvement

D

B

A

A

C

B

D

A

Non QM

Non QM

No

548676663

33296030

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Buyer Comment (2024-09-24): Approve Reviewer Comment (2024-09-24): [Redacted]exception.  Initial appraisal delivery and post close final appraisal delivery received.  [Redacted] exception can be waived upon reqquest. Buyer Comment (2024-09-12): Please be specific.  Are you requesting proof of delivery of revised appraisal?  Proof initial appraisal delivered was uploaded with the initial appraisal. Reviewer Comment (2024-09-10): Exception is asking for delivery of the [Redacted]report. Buyer Comment (2024-09-05): Initial appraisal and proof of delivery uploaded.

09/24/2024

2

B

B

B

B

B

B

B

B

B

B

NJ

Primary

Refinance - Cash-out - Home Improvement

D

B

A

A

C

B

D

A

Non QM

Non QM

No

548676663

33296031

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + 1.5%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.The file does not contain a valid change of circumstance for this fee, cure provided at closing.

Reviewer Comment (2024-09-24): Documents received, system cleared. Buyer Comment (2024-09-12): Please be specific.  Are you requesting proof of delivery of revised appraisal?  Proof initial appraisal delivered was uploaded with the initial appraisal. Reviewer Comment (2024-09-10): Exception is asking for delivery of the[Redacted]report. Buyer Comment (2024-09-05): Initial appraisal and proof of delivery uploaded.

09/24/2024

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Refinance - Cash-out - Home Improvement

D

B

A

A

C

B

D

A

Non QM

Non QM

No

548676663

33296032

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-09-24): Documents received, system cleared. Buyer Comment (2024-09-18): Please escalate to [Redacted]/[Redacted]. Reviewer Comment (2024-09-18): Provided appraisal delivery proof is dated [Redacted] which is after note date [Redacted]. Require appraisal delivery proof dated prior to the note date. Exception remains. Buyer Comment (2024-09-16): Proof revised appraisal delivered to the borrower uploaded.  Please note, it is acceptable to deliver the appraisal post note date.  Please downgrade and waive. Reviewer Comment (2024-09-13): Please provide proof of delivery for appraisal dated [Redacted], Exception remains. Buyer Comment (2024-09-12): Please be specific.  Are you requesting proof of delivery of revised appraisal?  Proof initial appraisal delivered was uploaded with the initial appraisal. Reviewer Comment (2024-09-09): Initial Appraisal received, however still required Proof of delivery. Exception remains. Buyer Comment (2024-09-05): Initial appraisal and proof of delivery uploaded.

09/24/2024

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Refinance - Cash-out - Home Improvement

D

B

A

A

C

B

D

A

Non QM

Non QM

No

548676663

33296034

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Transfer Tax Fee Amount of $[Redacted]exceeds tolerance of $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-09-17): [Redacted] received Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD. Buyer Comment (2024-09-16): PCCD and payment history reflecting PR uploaded.

09/17/2024

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Refinance - Cash-out - Home Improvement

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

B

A

A

C

B

D

A

Non QM

Non QM

Yes

548676663

33296036

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Buyer Comment (2024-09-24): Approve Reviewer Comment (2024-09-24): [Redacted] exception.  Initial appraisal delivery and post close final appraisal delivery received.  [Redacted] exception can be waived upon reqquest.

09/24/2024

2

B

B

B

B

B

NJ

Primary

Refinance - Cash-out - Home Improvement

D

B

A

A

C

B

D

A

Non QM

Non QM

No

539287427

33296061

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA - Incorrect Right To Cancel Form Used - H-8 Used on Same Lender Refinance (Circuit 2, 5, 7, 8, 9, 10 or DC)

Truth in Lending Act: Notice of Right to Cancel was not executed on the proper Model Form for a refinancing by the same creditor. The H-8 form was used, the H-9 form should have been used.

The Mortgage paid at closing was the same lender listed on the Note.  The Right To Cancel was reflected on an H-8 form when it should have been placed on a H-9 form.

Buyer Comment (2024-09-05): accept

09/05/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

539287427

33296063

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The Appraisal reflects the subject property located within Rural area.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Lender Exception with Compensating Factors. Total monthly payment savings of $[Redacted] or more per month

SitusAMC SitusAMC SitusAMC Originator

Reviewer Comment (2025-01-14): CF Update. Reviewer Comment (2024-12-16): Total monthly payment savings of $[Redacted] or more per month Reviewer Comment (2024-09-03): Lender Exception with Compensating Factors.

09/03/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Refinance - Cash-out - Other

C

B

B

B

C

B

A

A

Non QM

Non QM

No

539287427

33296064

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Disaster Inspection Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Provide VCC for the increase in the fee, or cure to the borrower with PC CD, and LOE.

Reviewer Comment (2024-09-16): [Redacted] received Letter of Explanation, Payment history and Corrected CD. Buyer Comment (2024-09-12): PCCD and payment history reflecting PR uploaded.

09/16/2024

2

C

B

C

B

C

B

C

B

C

B

TX

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

561692773

33296098

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Investor Qualifying Residual income discrepancy.

Calculated investor qualifying disposable income of ___ is less than AUS required disposable income of ___.

Lender Exception in file approving residual income of $[Redacted] is less than the guideline requirement of $[Redacted].

Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Borrower has been employed in the same industry for more than [Redacted] years. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Borrower's own funds used for Down Payment and closing (No Gifts or DPA). Borrower has been in the same industry for [Redacted]+ years. FICO exceeds requirement by more than [Redacted] points. Low housing ratio of [Redacted]% or less. Prior Homeownership Experience (No FC or Short Sale).

Originator,SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-12-16): CF Update. Buyer Comment (2024-09-04): Approve Reviewer Comment (2024-08-29): Compensating factors for residual income < $[Redacted].

09/04/2024

2

B

B

B

B

B

B

B

B

B

B

TN

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

561692773

33296102

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Credit Report Fee increased from $[Redacted] to $[Redacted] without any valid changed circumstances, no cure was provided.

Reviewer Comment (2024-09-16): [Redacted] Received Corrected , PCCD, LOE and Payment history Buyer Comment (2024-09-12): PCCD and payment history reflecting PR uploaded.

09/16/2024

2

C

B

C

B

C

B

C

B

C

B

TN

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

561692773

33296103

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Business not operating for 2 years.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Borrower has been in the same industry for [Redacted]+ years. Reserves exceed guidelines requirement by at least [Redacted] months. Borrower's own funds used for Down Payment and closing (No Gifts or DPA). FICO exceeds requirement by more than [Redacted] points. Low housing ratio of [Redacted]% or less. Prior Homeownership Experience (No FC or Short Sale).

SitusAMC Originator,SitusAMC Originator,SitusAMC SitusAMC Originator Originator

Reviewer Comment (2025-01-27): Lender Exception with Compensating Factors provided.

01/27/2025

2

B

B

B

B

B

TN

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

573533544

33296107

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Reinspection Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Reinspection Fee of $[Redacted] was not disclosed on Loan Estimate. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-09-19): [Redacted] received Letter of Explanation, Payment History and Corrected PCCD. Buyer Comment (2024-09-18): PCCD and payment history reflecting PR uploaded.

09/19/2024

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

573533544

33296108

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

LTV to [Redacted]% (Max LTV is [Redacted]% for a [Redacted] Unit Property).

Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Lender Exception with Compensating Factors. Residual Income greater than $[Redacted].

SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-11-25): CF Update. Reviewer Comment (2024-09-04): Lender Exception with Compensating Factors.

09/04/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

573533544

33296109

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

LTV to [Redacted]% (Max LTV is [Redacted]% for a [Redacted] Unit Property).

Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Lender Exception with Compensating Factors. Residual Income greater than $[Redacted].

SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-11-25): CF Update. Reviewer Comment (2024-09-04): Lender Exception with Compensating Factors.

09/04/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

573533544

33296110

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

LTV to [Redacted]% (Max LTV/CLTV is [Redacted]% for a [Redacted] Unit Property).

Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Lender Exception with Compensating Factors. Residual Income greater than $[Redacted].

SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-11-25): CF Update. Reviewer Comment (2024-09-04): Lender Exception with Compensating Factors.

09/04/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

573533544

33296111

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Borrower or tax preparer did not provide a signed letter of explanation describing the nature of the business, how income is generated and how long the business has been in existence.

Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Lender Exception with Compensating Factors. Residual Income greater than $[Redacted].

SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-11-25): CF Update. Reviewer Comment (2024-09-26): Lender exception with compensating factors. Buyer Comment (2024-09-24): *Please note, exception approved for LOE regarding nature of business not signed or received by borrower/tax payer.  CFs support the pc exception approval. Reviewer Comment (2024-09-24): The lender correspondence in file is not prepared by the Borrower or Tax preparer in file as required by guidelines. Lender exception in file for LOE not being signed but guidelines state the LOE must be prepared by the Borrower or tax preparer. Buyer Comment (2024-09-19): LOE and post consummation exception approval uploaded. Reviewer Comment (2024-09-18): The provided LOE not describing the nature of business and signed document. Exception Remains. Buyer Comment (2024-09-16): LOE describing nature of business uploaded.

09/26/2024

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

573533544

33296112

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Borrower or tax preparer did not provide a signed letter of explanation describing the nature of the business, how income is generated and how long the business has been in existence.

Reviewer Comment (2024-09-26): Exception provided, system cleared. Buyer Comment (2024-09-24): *Please note, exception approved for LOE regarding nature of business not signed or received by borrower/tax payer.  CFs support the pc exception approval. Reviewer Comment (2024-09-24): The lender correspondence in file is not prepared by the Borrower or Tax preparer in file as required by guidelines. Lender exception in file for LOE not being signed but guidelines state the LOE must be prepared by the Borrower or tax preparer. Buyer Comment (2024-09-16): LOE uploaded.

09/26/2024

1

B

A

C

A

B

A

C

A

B

A

NY

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

573533544

33296113

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Borrower or tax preparer did not provide a signed letter of explanation describing the nature of the business, how income is generated and how long the business has been in existence.

Reviewer Comment (2024-09-26): Exception provided, system cleared. Buyer Comment (2024-09-24): *Please note, exception approved for LOE regarding nature of business not signed or received by borrower/tax payer.  CFs support the pc exception approval. Reviewer Comment (2024-09-24): The lender correspondence in file is not prepared by the Borrower or Tax preparer in file as required by guidelines. Lender exception in file for LOE not being signed but guidelines state the LOE must be prepared by the Borrower or tax preparer. Buyer Comment (2024-09-16): LOE uploaded.

09/26/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

573533544

33296114

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Borrower or tax preparer did not provide a signed letter of explanation describing the nature of the business, how income is generated and how long the business has been in existence.

Reviewer Comment (2024-09-26): Exception provided, system cleared. Buyer Comment (2024-09-24): *Please note, exception approved for LOE regarding nature of business not signed or received by borrower/tax payer.  CFs support the pc exception approval. Reviewer Comment (2024-09-24): The lender correspondence in file is not prepared by the Borrower or Tax preparer in file as required by guidelines. Lender exception in file for LOE not being signed but guidelines state the LOE must be prepared by the Borrower or tax preparer. Buyer Comment (2024-09-16): LOE uploaded.

09/26/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

511206940

33296135

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Flood Certification (Life Of Loan).  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Flood Certification Fee disclosed as $[Redacted] on LE dated [Redacted], but disclosed as $[Redacted] on Final Closing Disclosure. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-09-19): [Redacted] received Letter of Explanation, Payment history and Corrected CD. Buyer Comment (2024-09-18): PCCD and payment history reflecting PR uploaded.

09/19/2024

2

C

B

C

B

C

B

C

B

C

B

UT

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

511206940

33296136

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Rural Property

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Miscellaneous Miscellaneous

[Redacted]+ years on job. Residual income > $[Redacted]. Qualifying ratios [Redacted]%/[Redacted]%. Prior homeownership experience (No FC or Short Sale) Excellent credit management with FICO [Redacted] +

Originator,SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2024-09-10): Lender exception with compensating factors.

09/10/2024

2

B

B

B

B

B

B

B

B

B

B

UT

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

511206940

33296137

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Excessive Overdrafts (Guidelines allow for [Redacted] in the past [Redacted] months, actual number of overdrafts is [Redacted]).

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Miscellaneous Miscellaneous

[Redacted]+ years on job. Residual income > $[Redacted]. Qualifying ratios [Redacted]%/[Redacted]%. Prior homeownership experience (No FC or Short Sale) Excellent credit management with FICO [Redacted] +

Originator,SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2024-09-10): Lender exception with compensating factors.

09/10/2024

2

B

B

B

B

B

B

B

B

B

B

UT

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

511206940

33296138

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

Rural Property and Excessive Overdrafts (Guidelines allow for [Redacted] in the past [Redacted] months, actual number of overdrafts is [Redacted]) and loan file does not document a full [Redacted] month housing history.  ****Updated [Redacted]- [Redacted] month history not required.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Miscellaneous Miscellaneous

[Redacted]+ years on job. Residual income > $[Redacted]. Qualifying ratios [Redacted]%/[Redacted]%. Prior homeownership experience (No FC or Short Sale) Excellent credit management with FICO [Redacted] +

Originator,SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2024-09-18): Lender Exception with Compensating Factors. Buyer Comment (2024-09-16): Response regarding housing history.

09/18/2024

2

C

B

C

B

C

B

C

B

C

B

UT

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

556965668

33296149

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Business has been in existence for less than [Redacted] years (Guidelines require a minimum of [Redacted] years, business was formed [Redacted]).

Borrower has verified disposable income of at least $[Redacted]. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months.

Borrower's own funds for down payment & closing (No gifts for DPA). Reserves exceed guidelines by at least [Redacted] months.

SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2024-09-10): Lender exception with compensating factors.

09/10/2024

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

556965668

33296150

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Business has been in existence for less than [Redacted] years (Guidelines require a minimum of [Redacted] years, business was formed [Redacted]).

Borrower has verified disposable income of at least $[Redacted]. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months.

Borrower's own funds for down payment & closing (No gifts for DPA). Reserves exceed guidelines by at least [Redacted] months.

SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2024-09-10): Lender exception with compensating factors.

09/10/2024

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

556965668

33296151

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Business has been in existence for less than [Redacted] years (Guidelines require a minimum of [Redacted] years, business was formed [Redacted]).

Reviewer Comment (2024-09-10): Lender exception with compensating factors, system cleared.

09/10/2024

1

B

A

C

A

B

A

C

A

B

A

FL

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

556965668

33296152

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Business has been in existence for less than [Redacted] years (Guidelines require a minimum of [Redacted] years, business was formed [Redacted]).

Reviewer Comment (2024-09-10): Lender exception with compensating factors, system cleared.

09/10/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

556965668

33296153

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Business has been in existence for less than [Redacted] years (Guidelines require a minimum of [Redacted] years, business was formed [Redacted]).

Reviewer Comment (2024-09-10): Lender exception with compensating factors, system cleared.

09/10/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

556965668

33296154

Credit

Credit

Credit Eligibility

Credit

There are red flags on the fraud report that have not been addressed

-

Reviewer Comment (2024-09-24): Fraud report provided with cleared alerts, exception cleared. Buyer Comment (2024-09-13): Fraud Report uploaded.

09/24/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

501345788

33296183

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2024-09-06): Sufficient Cure Provided At Closing

09/06/2024

1

A

A

A

A

A

A

A

A

A

A

MD

Primary

Refinance - Cash-out - Home Improvement

Final CD evidences Cure

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

501345788

33296184

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation (Report Dated [Redacted]) to applicant three (3) business days prior to consummation.

Buyer Comment (2024-10-04): Approve Reviewer Comment (2024-10-02): Post close delivery of appraisal provided. Exception remains an [Redacted]. Buyer Comment (2024-09-27): Appraisal proof of delivery uploaded.

10/04/2024

2

B

B

B

B

B

B

B

B

B

B

MD

Primary

Refinance - Cash-out - Home Improvement

B

B

A

A

B

B

A

A

Non QM

Non QM

No

501345788

33296185

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2024-09-10): Sufficient Cure Provided At Closing

09/10/2024

1

A

A

A

A

A

A

A

A

A

A

MD

Primary

Refinance - Cash-out - Home Improvement

Final CD evidences Cure

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

504320645

33296198

Compliance

Compliance

Federal Compliance

FACTA

FACTA Disclosure Missing

FACTA Disclosure Rule: Creditor did not provide FACTA Credit Score Disclosure.

The FACTA Disclosure were not located within the loan file.

Reviewer Comment (2024-10-07): Exception cleared - Received FACTA Disclosure in file and associated in clarity. Buyer Comment (2024-10-04): attached

10/07/2024

1

B

A

B

A

B

A

B

A

B

A

RI

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

504320645

33296199

Compliance

Compliance

State Compliance

State Defect

Rhode Island Home Loan (Prohibited Acts and Practices Regarding Home Loans Disclosure Not Provided)

[Redacted] Home Loan: Prohibited Acts and Practices Regarding Home Loans disclosure not provided.

Prohibited Acts and Practices Regarding Home Loans disclosure not provided.

Reviewer Comment (2024-10-22): Documents received, system cleared. Buyer Comment (2024-10-16): Both were provided and are now in the binder on pages [Redacted]/[Redacted]and [Redacted]/[Redacted]. Reviewer Comment (2024-10-10): Received one of the RI disclosures however, additional RI prohibited acts and practices regarding home loans disclosure not found in upload. Buyer Comment (2024-10-04): attached.

10/22/2024

1

C

A

C

A

C

A

C

A

C

A

RI

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

504320645

33296201

Compliance

Compliance

State Compliance

State Defect

Rhode Island Home Loan (Prohibited Acts and Practices Regarding High-Cost Home Loans Disclosure Not Provided)

[Redacted] Home Loan: Prohibited Acts and Practices Regarding High-Cost Home Loans disclosure not provided.

The Rhode Island Application Disclosure was not located within the loan file.

Reviewer Comment (2024-10-10): Disclosure provided, exception cleared. Buyer Comment (2024-10-04): attached

10/10/2024

1

C

A

C

A

C

A

C

A

C

A

RI

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

504320645

33296202

Compliance

Compliance

State Compliance

State Defect

Rhode Island Home Loan (High Cost Analysis Not In File)

[Redacted] Home Loan:  Loan file did not contain record(s) documenting high-cost home loan analysis.

The Rhode Island High Cost Analysis Disclosure was not located within the loan file.

Reviewer Comment (2024-10-22): Documents received, system cleared.

10/22/2024

1

A

A

A

A

A

A

A

A

A

A

RI

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

532039336

33296206

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy Effective Date is after closing.

Hazard Insurance Policy Effective Date ___, Disbursement Date: ___

Reviewer Comment (2024-09-23): Hazard insurance provided is effective on loan disbursement date therefore exception cleared. Buyer Comment (2024-09-20): Final SS reflecting disbursement date [Redacted] same day as effective date.

09/23/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

589224342

33296207

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Reviewer Comment (2024-09-23): Final title provided exception cleared.

09/23/2024

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

589224342

33296208

Credit

Title

Document Error

Title

The Preliminary title policy is within CA or NV and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

Reviewer Comment (2024-09-23): Final title provided exception cleared. Buyer Comment (2024-09-20): Final title policy uploaded.

09/23/2024

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

589224342

33296209

Credit

Credit

Credit Documentation

Credit

Credit Report Error: Credit report is missing FICO scores.

-

FICO score is not available for borrower.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Lender Exception with Compensating Factors provided. Low default risk with substantial equity, LTV [Redacted]% lower than matrix Excellent Credit Management with FICO [Redacted]+ Prior Homeownership Experience (No FC or SS).

SitusAMC SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-09-27): Lender Exception with Compensating Factors provided. Buyer Comment (2024-09-25): Post Consummation Exception Approval uploaded.

09/27/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

589224342

33296211

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Property Costs Year 1 Underdisclosed - October 2018

TILA-RESPA Integrated Disclosure - Loan Disclosures: Amount of Estimated Property Costs over Year 1 of  on Final Closing Disclosure provided on [Redacted] are underdisclosed

Final Closing Disclosure Property Costs Year 1 Underdisclosed - [Redacted]

Reviewer Comment (2024-09-23): [Redacted]received Letter of Explanation & Corrected Closing Disclosure. Buyer Comment (2024-09-20): PCCD uploaded reflecting correct non-escrowed total.

09/23/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Refinance - Cash-out - Other

Letter of Explanation & Corrected Closing Disclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

589224342

33296212

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Lender Credit Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure:Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $-[Redacted] exceeds tolerance of $-[Redacted]. Insufficient or no cure was provided to the borrower.

No valid COC provided, nor evidence of cure in file.

Reviewer Comment (2024-09-25): [Redacted]received valid COC dated [Redacted] Buyer Comment (2024-09-24): Disclosure tracking details reflecting VCOC uploaded.

09/25/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

589224342

33296213

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

Notice of Right To Cancel Not Provided to All Required Parties

Truth in Lending Act: Notice of Right to Cancel was not signed by all parties whose ownership interest is or will be subject to the security interest.

RTC signed by co-borrowers is missing in file.

Reviewer Comment (2025-01-31): [Redacted] received Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form for non-occupant co-borrowers. [Redacted] received confirmation from non-occupant co-borrower ([Redacted]) that she does not wish to cancel. Buyer Comment (2025-01-29): Borrower response regarding not wishing to cancel uploaded. Reviewer Comment (2025-01-16): Given the elevated risk of a potentially voided loan, we would not accept an LOE/attestation from the lender without additionally obtaining an LOE/attestation from the consumer. Reviewer Comment (2024-11-25): We can accept an LOE/attestation from the consumer ([Redacted]) indicating the signature on the "I wish to cancel" line was an error and they did not intend to cancel the transaction. This will allow us to effectively disregard the error and not consider the transaction void. Buyer Comment (2024-11-13): Please note, borrower crossed out and initialed on the line and should be acceptable. Reviewer Comment (2024-11-07): Borrower signed on the "I wish to cancel" line. An attestation/LOE from Borrower would be required if this was done in error. Buyer Comment (2024-10-23): NORTC executed, LOE and proof of delivery uploaded. Reviewer Comment (2024-09-25): Under the rescission rules of [Redacted](a), "…each consumer whose ownership interest is or will be subject to the security interest shall have the right to rescind the transaction…". The commentary under [Redacted](a)([Redacted]) further clarifies the term consumer: "To be a consumer within the meaning of §[Redacted], that person must at least have an ownership interest in the dwelling that is encumbered by the creditor's security interest, although that person need not be a signatory to the credit agreement. For example, if only one spouse signs a credit contract, the other spouse is a consumer if the ownership interest of that spouse is subject to the security interest." Even though it is not the co-borrower's primary residence, they still have an ownership interest and are required to have the right to rescind. The commentary to [Redacted](a) states that each consumer with ownership interest will have the right to rescind (without conditioning that every consumer with ownership interest must also reside in the subject property in order to have rescission rights).  Please provide the following for each of the co-borrowers: Letter of Explanation, Proof of Delivery, and Re-open Rescission. Buyer Comment (2024-09-20): Please see compliance response regarding NORTC.  Please escalate to XXX and compliance team.

01/31/2025

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

589224342

33296214

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Taxes, Insurance And Assessments

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redacted] disclosed an Estimated Taxes, Insurance, and Assessments payment that does not match the actual payment for the loan.

Estimated escrow details on Final Closing Disclosure provided on [Redacted] does not match with the actual payment.

Reviewer Comment (2024-09-23): [Redacted]received Letter of Explanation & Corrected Closing Disclosure. Buyer Comment (2024-09-20): PCCD uploaded reflecting correct non-escrowed total.

09/23/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

589224342

33296215

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Will Not Have Escrow -  Property Costs Year 1

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on [Redacted] did not disclose Estimated Property Costs over Year 1 for loan with no escrow account established.

Estimated Property cost over year 1 is missing on Final Closing Disclosure provided on [Redacted].

Reviewer Comment (2024-09-23): [Redacted]received Letter of Explanation & Corrected Closing Disclosure. Buyer Comment (2024-09-20): PCCD uploaded reflecting correct non-escrowed total.

09/23/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Refinance - Cash-out - Other

Letter of Explanation & Corrected Closing Disclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

589224342

33296216

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Will Not Have Escrow -  Reason

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on [Redacted] incorrectly disclosed whether the loan will have an escrow account.

Final Closing Disclosure provided on [Redacted] missing the details of reason for not having Escrow account.

Reviewer Comment (2024-09-23): [Redacted]received Letter of Explanation & Corrected Closing Disclosure. Buyer Comment (2024-09-20): PCCD uploaded reflecting correct non-escrowed total.

09/23/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Refinance - Cash-out - Other

Letter of Explanation & Corrected Closing Disclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

581350124

33296225

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy effective date is after the funds disbursed.

The Disbursement date listed on the Closing Disclosure is [Redacted].  The effective date listed on the Hazard Insurance Policy is [Redacted].

Reviewer Comment (2024-09-23): Exception Cleared - Received Hazard Insurance policy with effective date prior to note date associated the same and data updated as per provided document. Buyer Comment (2024-09-20): Attached.

09/23/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

581350124

33296228

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted]plus [Redacted]% or $[Redacted].  Sufficient or excess cure was provided to the borrower.

[Redacted]% tolerance was exceeded by $[Redacted] due to Increase in Title Fees. No valid COC provided, Specific credit of $[Redacted] has been provided as cure at closing.

Reviewer Comment (2024-09-10): Sufficient Cure Provided within [Redacted]Days of Closing

09/10/2024

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Refinance - Cash-out - Other

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

C

A

C

A

A

A

A

A

Non QM

Non QM

Yes

581044781

33296233

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Loan Discount Points. on closing disclosure is $[Redacted] and on loan estimate $[Redacted] . No Valid Change circumstance in file.

Reviewer Comment (2024-09-26): [Redacted]received valid COC dated [Redacted]. Buyer Comment (2024-09-24): Disclosure tracking details reflecting VCOC uploaded.

09/26/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

526853427

33296237

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Reviewer Comment (2024-09-30): Final title received and coverage amount updated from final title. Exception cleared

09/30/2024

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Purchase

C

B

B

A

C

B

A

A

Non QM

Non QM

No

526853427

33296238

Credit

Title

Document Error

Title

The Preliminary title policy is within CA or NV and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The Preliminary Title Policy is within CA and does not reflect a coverage amount (no Final Title Policy in file). Unable to determine if appropriate coverage is provided

Reviewer Comment (2024-09-30): coverage amount updated from final title. Exception cleared Buyer Comment (2024-09-27): Final title policy uploaded.

09/30/2024

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Purchase

C

B

B

A

C

B

A

A

Non QM

Non QM

No

526853427

33296239

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted] %, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

APR on subject loan of [Redacted] % or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2024-09-26): Preliminary Appraisal was delivered on[Redacted] and revised appraisal was sent post close, exeption cleared. Buyer Comment (2024-09-24): Appraisal proof of delivery uploaded.

09/26/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

B

B

A

C

B

A

A

Non QM

Non QM

No

526853427

33296241

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation (Appraisal Report Date [Redacted]) to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-09-26): Preliminary Appraisal was delivered on [Redacted] and revised appraisal was sent post close, exception cleared. Buyer Comment (2024-09-24): Appraisal proof of delivery uploaded.

09/26/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

B

B

A

C

B

A

A

Non QM

Non QM

No

526853427

33296243

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Amount Financed Test

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[Redacted] is over disclosed by $[Redacted] compared to the calculated Amount Financed of $[Redacted] and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate (fee amounts included in Amount Financed and Finance Charge calculations are based on Closing Disclosure dated [Redacted]).

Final Closing Disclosure provided on [Redacted] disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[Redacted] is over disclosed by $[Redacted] compared to the calculated Amount Financed of $[Redacted]and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate (fee amounts included in Amount Financed and Finance Charge calculations are based on Closing Disclosure dated [Redacted]).

Reviewer Comment (2024-10-07): [Redacted] received PCCD, LOE, copy of refund check, and proof of mailing. Buyer Comment (2024-10-07): Final SS uploaded. Reviewer Comment (2024-10-04): Please provide ALTA final settlement statement to confirm final CD/PCCD and distribution amounts. Buyer Comment (2024-10-04): Proof cure check cashed uploaded. Reviewer Comment (2024-09-30): FSS required to verify fee amount changes on [Redacted] PCCD. Buyer Comment (2024-09-30): Reviewer to respond as to why a signed ALTA settlement statement is required?  A cure check was issued and delivered to the borrower. Reviewer Comment (2024-09-30): Please provide copy of final stamped, signed  ALTA settlement statement for review. Buyer Comment (2024-09-27): Proof cure check issued and delivered uploaded.

10/07/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

B

A

C

B

A

A

Non QM

Non QM

Yes

526853427

33296244

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Finance Charge

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted]disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan.  The disclosed Finance Charge in the amount of $[Redacted] is under disclosed by $[Redacted] compared to the calculated Finance Charge of $[Redacted] which exceeds the $[Redacted] threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated [Redacted]).

Final Closing Disclosure provided on [Redacted] disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan.  The disclosed Finance Charge in the amount of $[Redacted] is under disclosed by $[Redacted] compared to the calculated Finance Charge of $[Redacted]which exceeds the $[Redacted]threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated [Redacted]).

Reviewer Comment (2024-10-07): [Redacted] received PCCD, LOE, copy of refund check, and proof of mailing. Buyer Comment (2024-10-07): Final SS uploaded. Reviewer Comment (2024-10-04): Please provide ALTA final settlement statement to confirm final CD/PCCD and distribution amounts. Buyer Comment (2024-10-04): Proof cure check cashed uploaded. Reviewer Comment (2024-09-30): FSS required to verify fee amount changes on [Redacted] PCCD. Buyer Comment (2024-09-30): Reviewer to respond as to why a signed ALTA settlement statement is required?  A cure check was issued and delivered to the borrower. Reviewer Comment (2024-09-30): Please provide copy of final stamped, signed  ALTA settlement statement for review. Buyer Comment (2024-09-27): Proof cure check issued and delivered uploaded.

10/07/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission if Applicable

C

B

B

A

C

B

A

A

Non QM

Non QM

Yes

526853427

33296246

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted] .  Insufficient or no cure was provided to the borrower.

Appraisal Fee disclosed as $[Redacted] on LE dated [Redacted]on LE dated [Redacted], but disclosed as $[Redacted] on Final Closing Disclosure. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-09-26): [Redacted]received Letter of Explanation, Payment history and Corrected CD. Buyer Comment (2024-09-25): PCCD and payment history reflecting PR uploaded.

09/26/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

A

C

B

A

A

Non QM

Non QM

Yes

526853427

33296247

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Reinspection Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Reinspection Fee of $[Redacted] was not disclosed on Loan Estimate. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-09-26): [Redacted]received Letter of Explanation, Payment history and Corrected CD. Buyer Comment (2024-09-25): PCCD and payment history reflecting PR uploaded.

09/26/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

A

C

B

A

A

Non QM

Non QM

Yes

526853427

33296248

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for HOA Dues.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted] .  Insufficient or no cure was provided to the borrower.

HOA Dues of $[Redacted] was not disclosed on Loan Estimate. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-09-26): [Redacted]received post CD and LOX by moving HOA dues to section [Redacted] Buyer Comment (2024-09-25): PCCD reflecting HOA Dues property located in Section H and no cure required.

09/26/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

A

C

B

A

A

Non QM

Non QM

Yes

526853427

33296250

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Appraisal Report Date [Redacted]was not provided three (3) business days prior to consummation and was sent to borrower on [Redacted].

Buyer Comment (2024-09-26): Approve

09/26/2024

2

B

B

B

B

B

CA

Primary

Purchase

C

B

B

A

C

B

A

A

Non QM

Non QM

No

531383300

33296261

Credit

Credit

Credit Eligibility

Guideline

Public Record Issue:

-

Collections and unsecured charge-offs < [Redacted] months old may not exceed a maximum cumulative balance of $[Redacted]. Collections and charge-off balances exceeding the amounts listed above must be paid in full. Per the credit supplement, the [Redacted] Acceptance CO charge-off had a last payment date of [Redacted] which is < [Redacted] months and the balance was $[Redacted].

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Residual income > $[Redacted]. Substantial cash reserves. Excellent credit management with FICO [Redacted]+. Prior homeownership experience (No FC or Short Sale). Lender Exception with Compensating Factors provided.

SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator Originator,SitusAMC

Reviewer Comment (2025-01-30): Lender Exception with Compensating Factors provided. Reviewer Comment (2024-10-04): Lender exception with compensating factors. Buyer Comment (2024-09-30): Post Consummation Exception Approval uploaded.

10/04/2024

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Limited Cash-out GSE

B

B

B

B

A

A

A

A

Non QM

Non QM

No

541052421

33296263

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Lender Credit Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure:Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $[Redacted]exceeds tolerance of $-[Redacted]. Insufficient or no cure was provided to the borrower.

The lender credit decreased from $-[Redacted] to $[Redacted] without a valid change of circumstance. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-11-04): [Redacted]received valid COC document. Buyer Comment (2024-11-01): Disclosure tracking reasons reflecting VCOC uploaded.

11/04/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

541052421

33296265

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted]exceeds tolerance of $[Redacted]plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-11-26): [Redacted]Received Corrected PCCD, LOE and Payment history. Buyer Comment (2024-11-26): PCCD, LOE and payment history reflecting PR uploaded. Reviewer Comment (2024-11-22): Final ALTA Settlement statement was not located in current loan file. [Redacted]requires the FASS to compare fee amounts. CDs in loan file do not support [Redacted] statement from seller that indicate recording fees of $[Redacted]. All CD's indicate recording fees at $[Redacted]. Please provide complete PCCD showing correct amounts and Signed Final ALTA statement to confirm fee amounts actually charged to borrower as consummation was completed more than 60 days ago. If any curavative action is required upon receipt of these documents only [Redacted] days remain to complete them. Buyer Comment (2024-11-22): Please see true and certified closing disclosure. Reviewer Comment (2024-11-13): [Redacted] received rebuttal, however no true and certified copy of final settlement statement received. Please provide certified copy of final settlement statement to re-evaluate the exception. Buyer Comment (2024-11-12): Final SS uploaded. Reviewer Comment (2024-11-06): [Redacted] received corrected PCCD and LOE updating the recording fee and transfer tax. Please provide ALTA final SS to finalize the fees charged to borrower at closing. Buyer Comment (2024-11-05): PCCD uploaded reflecting transfer taxes correctly placed in Section [Redacted] lines[Redacted] and [Redacted]  Initial LE disclosed transfer taxes as $[Redacted]and borrower was charged $[Redacted], no cure required.  Recording fee is the only fee subject to [Redacted]% and no cure required as initial LE disclosed recording fee $[Redacted]and borrower only charged $[Redacted].

11/26/2024

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

541052421

33296266

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Max LTV on a [Redacted] unit property is [Redacted]%. Subject loan is [Redacted]% LTV.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum.

Residual income is >$[Redacted]. Substantial cash reserves.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC SitusAMC

Reviewer Comment (2024-09-30): Lender exception with compensating factors.

09/30/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

541052421

33296267

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Max LTV on a [Redacted] unit property is [Redacted]%. Subject loan is [Redacted]% LTV.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum.

Residual income is >$[Redacted]. Substantial cash reserves.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC SitusAMC

Reviewer Comment (2024-09-30): Lender exception with compensating factors.

09/30/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

541052421

33296268

Credit

Credit

Credit Eligibility

Credit

There are red flags on the fraud report that have not been addressed

-

Reviewer Comment (2024-10-11): Report provided with alerts cleared. Buyer Comment (2024-10-07): Fraud guard uploaded.

10/11/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

536317147

33296271

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

E-sign Consent Agreement not provided.

Reviewer Comment (2024-10-09): Received E-sign Consent Agreement. Exception Cleared. Buyer Comment (2024-10-08): eConsent uploaded.

10/09/2024

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

539339230

33296297

Compliance

Compliance

Federal Compliance

FACTA

Federal FACTA Disclosure Timing Test

FACTA Disclosure Rule: Creditor did not provide FACTA Credit Score Disclosure within a reasonably practicable time after using credit score.

Buyer Comment (2024-10-11): Approve Reviewer Comment (2024-10-10): The document provided was dated [Redacted], same date as Note date. Buyer Comment (2024-10-04): Disclosure uploaded.

10/11/2024

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

539339230

33296299

Compliance

Compliance

Federal Compliance

TRID

ECOA Appraisal Disclosure - ECOA Timing

ECOA - File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure within 3 days of the loan application date.

Right to receive a copy of the Appraisal Disclosure was not provided within 3 days of application.

Buyer Comment (2024-10-04): Approve

10/04/2024

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

539339230

33296301

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Loan Estimate Timing

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application.

Initial Loan Estimate was not provided within 3 business days of application.

Reviewer Comment (2024-10-07): [Redacted]received proof of receipt. Buyer Comment (2024-10-04): Disclosure tracking details initial LE uploaded.

10/07/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

No Defined Cure

C

B

C

A

C

B

A

A

Non QM

Non QM

No

539339230

33296302

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

Missing statement verifying source of funds/transfer of $[Redacted] earnest money deposit.

Reviewer Comment (2024-10-10): Wire Confirmation shows  payment received from borrower [Redacted] and sent to title company . Exception cleared Buyer Comment (2024-10-08): Please note, the bank statement is not required.  We have [Redacted] months bank statements dated prior to [Redacted] wire and sufficient verified assets with the bank statements. Reviewer Comment (2024-10-08): Please provided bank statement to verify $[Redacted]. - Exception remains. Buyer Comment (2024-10-07): Wire details on page [Redacted]uploaded.

10/10/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

528886967

33296316

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

Calculated loan to value percentage of [Redacted]% exceeds Guideline loan to value percentage of [Redacted]%. [Redacted]% LTV Exception

Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Miscellaneous

Lender Exception with Compensating Factors provided. Qualifying Ratios of [Redacted]/[Redacted] or less Prior Homeownership Experience (No FC or SS).

SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-10-07): Lender Exception with Compensating Factors provided.

10/07/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

528886967

33296317

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

Calculated combined loan to value percentage of [Redacted]% exceeds Guideline combined loan to value percentage of [Redacted]%. [Redacted]% LTV  Exception.

Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Miscellaneous

Lender Exception with Compensating Factors provided. Qualifying Ratios of [Redacted]/[Redacted] or less Prior Homeownership Experience (No FC or SS).

SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-10-07): Lender Exception with Compensating Factors provided.

10/07/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

528886967

33296318

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

Calculated loan to value percentage of [Redacted]% exceeds Guideline loan to value percentage of [Redacted]%. [Redacted]% LTV Exception

Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Miscellaneous

Lender Exception with Compensating Factors provided. Qualifying Ratios of [Redacted]/[Redacted] or less Prior Homeownership Experience (No FC or SS).

SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-10-07): Lender Exception with Compensating Factors provided.

10/07/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

528886967

33296319

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

Insufficient assets to met reserves requirement.

Reviewer Comment (2024-10-10): Exception cleared. Received Appraisal Invoice paid by borrower by CC and updated correctly. Buyer Comment (2024-10-09): Please note, cash out proceeds are acceptable.  Cash out proceeds per PCCD [Redacted]$[Redacted].  Reserves = [Redacted]months and meets guideline requirements.

10/10/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

528886967

33296320

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Insufficient assets to met reserves requirement.

Reviewer Comment (2024-10-10): Exception cleared. Received Appraisal Invoice paid by borrower by CC and updated correctly. Buyer Comment (2024-10-09): Appraisal invoice reflecting paid with a cc. Buyer Comment (2024-10-09): Please note, cash out proceeds are acceptable.  Cash out proceeds per PCCD [Redacted] $[Redacted].  Reserves = [Redacted] months and meets guideline requirements.

10/10/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

528886967

33296321

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Insufficient assets to met reserves requirement.

Reviewer Comment (2024-10-17): Documentation provided. System Cleared. Buyer Comment (2024-10-09): Please note, cash out proceeds are acceptable.  Cash out proceeds per PCCD [Redacted]$[Redacted].  Reserves = [Redacted]months and meets guideline requirements.  Appraisal invoice uploaded reflecting paid with cc and should not be excluded from assets.

10/17/2024

1

B

A

C

A

B

A

C

A

B

A

NY

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

528886967

33296322

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Insufficient assets to met reserves requirement.

Reviewer Comment (2024-10-17): Documentation provided. System Cleared. Buyer Comment (2024-10-09): Please note, cash out proceeds are acceptable.  Cash out proceeds per PCCD [Redacted] $[Redacted].  Reserves = [Redacted]months and meets guideline requirements.  Appraisal invoice uploaded reflecting paid with cc and should not be excluded from assets.

10/17/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

528886967

33296323

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Insufficient assets to met reserves requirement.

Reviewer Comment (2024-10-17): Documentation provided. System Cleared. Buyer Comment (2024-10-09): Please note, cash out proceeds are acceptable.  Cash out proceeds per PCCD [Redacted] $[Redacted].  Reserves = [Redacted]months and meets guideline requirements.  Appraisal invoice uploaded reflecting paid with cc and should not be excluded from assets.

10/17/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

549420716

33296328

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - Affiliated Business Arrangement Disclosure Not Provided Within 3 Business Days of Application

RESPA Disclosure Rule: Creditor did not provide Affiliated Business Arrangement Disclosure to applicant within three (3) business days of application.

Creditor did not provide Affiliated Business Arrangement Disclosure to applicant within three business days of application.

Reviewer Comment (2024-10-22): Documentation provided. System Cleared. Buyer Comment (2024-10-17): Disclosure uploaded.

10/22/2024

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Refinance - Cash-out - Other

C

B

A

A

C

B

A

A

Non QM

Non QM

No

549420716

33296329

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Amount Financed Test

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[Redacted] is over disclosed by $[Redacted]compared to the calculated Amount Financed of $[Redacted] and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate (fee amounts included in Amount Financed and Finance Charge calculations are based on Closing Disclosure dated [Redacted]).

Final Closing Disclosure provided on [Redacted] disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[Redacted] is over disclosed by $[Redacted] compared to the calculated Amount Financed of $[Redacted] and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate (fee amounts included in Amount Financed and Finance Charge calculations are based on

Reviewer Comment (2024-10-24): [Redacted]received Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission. Buyer Comment (2024-10-23): PCCD, LOE, proof of delivery, cure check and re-executed NORTC uploaded.

10/24/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

549420716

33296330

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Finance Charge

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan.  The disclosed Finance Charge in the amount of $[Redacted] is under disclosed by $[Redacted] compared to the calculated Finance Charge of $[Redacted] which exceeds the $[Redacted] threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated [Redacted]).

Primary residence refinance and Calculated Finance Charge exceeds disclosed Finance Charge by more than $[Redacted]; Primary residence purchase and Calculated Finance Charge exceeds disclosed Finance Charge by more than $[Redacted].

Reviewer Comment (2024-10-24): [Redacted] received Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission. Buyer Comment (2024-10-23): PCCD, LOE, proof of delivery, cure check and re-executed NORTC uploaded.

10/24/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission if Applicable

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

564210249

33296366

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Non Escrow Costs Year 1 Underdisclosed - October 2018

TILA-RESPA Integrated Disclosure - Loan Disclosures: Non Escrowed Property Costs over Year 1 of  on Final Closing Disclosure provided on [Redacted] are underdisclosed.

Non Escrowed Property Costs over Year 1 of on Final Closing Disclosure provided on [Redacted] are under disclosed.

Reviewer Comment (2024-10-23): [Redacted]Received Corrected PCCD and LOE. Buyer Comment (2024-10-21): Please see PCCD showing Non escrow property cost over [Redacted] yr charges

10/23/2024

2

C

B

C

B

C

B

C

B

C

B

CO

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

564210249

33296369

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted].

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous Miscellaneous Miscellaneous

Residual income >$[Redacted]. Low housing ration of [Redacted]% or less. Prior homeownership experience (No FC or Short Sale). Excellent credit management with FICO [Redacted]+.

SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator Originator Originator

Reviewer Comment (2024-11-11): Lender exception with compensating factors. Buyer Comment (2024-11-04): Please see a PC exception has been approved for not meeting the cash reserves required. Reviewer Comment (2024-10-22): As of [Redacted], the balance is $[Redacted], $[Redacted]was available on [Redacted]. Exception remains. Buyer Comment (2024-10-21): Please see the most recent bank statement from acct # [Redacted]an ending balance of $[Redacted].

11/11/2024

2

C

B

C

B

C

B

C

B

C

B

CO

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

564210249

33296370

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan designation failure due to ATR failure.  This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2024-11-11): Lender exception with compensating factors, system cleared. Buyer Comment (2024-11-04): Please see a PC exception has been approved for not meeting the cash reserves required. Reviewer Comment (2024-10-22): As of [Redacted], the balance is $[Redacted], $[Redacted]was available on [Redacted]. Exception remains. Buyer Comment (2024-10-21): Please see the most recent bank statement from acct # [Redacted]an ending balance of $[Redacted].

11/11/2024

1

B

A

C

A

B

A

C

A

B

A

CO

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

564210249

33296371

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2024-11-11): Lender exception with compensating factors, system cleared. Buyer Comment (2024-11-04): Please see a PC exception has been approved for not meeting the cash reserves required. Reviewer Comment (2024-10-22): As of [Redacted], the balance is $[Redacted], $[Redacted]was available on [Redacted]. Exception remains. Buyer Comment (2024-10-21): Please see the most recent bank statement from acct # [Redacted]an ending balance of $[Redacted].

11/11/2024

1

C

A

C

A

C

A

C

A

C

A

CO

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

587798008

33296383

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-10-25): [Redacted]received Letter of Explanation, Payment history and Corrected CD. Buyer Comment (2024-10-24): Please see PCCD and Pymt History attached showing a cure for $[Redacted] due to increase in Credit report fee.

10/25/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

599621802

33296407

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Amount Financed Test

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted]disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[Redacted]is over disclosed by $[Redacted] compared to the calculated Amount Financed of $[Redacted] and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate (fee amounts included in Amount Financed and Finance Charge calculations are based on Closing Disclosure dated [Redacted]).

Final Closing Disclosure provided on [Redacted] disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[Redacted] is over disclosed by $[Redacted] compared to the calculated Amount Financed of $[Redacted] and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate.

Reviewer Comment (2024-11-19): [Redacted]received Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD. Buyer Comment (2024-11-18): PCCD, LOE, cure check and proof of delivery uploaded.

11/19/2024

2

C

B

C

B

C

B

C

B

C

B

MO

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

599621802

33296408

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Finance Charge

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted]disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan.  The disclosed Finance Charge in the amount of $[Redacted] is under disclosed by $[Redacted] compared to the calculated Finance Charge of $[Redacted] which exceeds the $[Redacted] threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated [Redacted]).

Final Closing Disclosure provided on [Redacted] disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan. The disclosed Finance Charge in the amount of $[Redacted] is under disclosed by $[Redacted] compared to the calculated Finance Charge of $[Redacted] which exceeds the $[Redacted] threshold

Reviewer Comment (2024-11-19): [Redacted] received Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD. Buyer Comment (2024-11-18): PCCD, LOE, cure check and proof of delivery uploaded.

11/19/2024

2

C

B

C

B

C

B

C

B

C

B

MO

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission if Applicable

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

599621802

33296410

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Property type (rural) not allowed per guidelines.

Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Residual income > $[Redacted]. Borrower's own funds used for down payment & closing (No gifts or DPA). Low housing ratio of [Redacted]% or less. Prior homeownership experience (No gifts or DPA).

Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-10-25): Lender exception with compensating factors.

10/25/2024

2

B

B

B

B

B

B

B

B

B

B

MO

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

599621802

33296411

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The loan file is missing an additional bank statement for account ending [Redacted] that was used for closing/reserves.

Reviewer Comment (2024-10-31): Exception cleared - Received[Redacted] months of bank statement for the account [Redacted]. Buyer Comment (2024-10-31): Please see image [Redacted], pages [Redacted]- [Redacted]and page [Redacted]reflecting [Redacted]months statements.

10/31/2024

1

B

A

C

A

B

A

C

A

B

A

MO

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

599621802

33296412

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The loan file is missing an additional bank statement for account ending [Redacted] that was used for closing/reserves.

Reviewer Comment (2024-10-31): Exception cleared - Received [Redacted]months of bank statement for the account [Redacted]. Buyer Comment (2024-10-31): Please see image [Redacted], pages [Redacted]- [Redacted]and page [Redacted]reflecting [Redacted]months statements.

10/31/2024

1

C

A

C

A

C

A

C

A

C

A

MO

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

599621802

33296413

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The loan file is missing an additional bank statement for account ending [Redacted] that was used for closing/reserves.

Reviewer Comment (2024-10-31): Exception cleared - Received [Redacted]months of bank statement for the account [Redacted]. Buyer Comment (2024-10-31): Please see image [Redacted], pages [Redacted]- [Redacted]and page [Redacted]reflecting [Redacted]months statements.

10/31/2024

1

C

A

C

A

C

A

C

A

C

A

MO

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

599621802

33296414

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

The loan file is missing an additional bank statement for account ending [Redacted] that was used for closing/reserves.

Reviewer Comment (2024-10-31): Exception cleared - Received [Redacted] months of bank statement for the account [Redacted]. Buyer Comment (2024-10-31): Please see image [Redacted], pages [Redacted]- [Redacted]and page [Redacted]reflecting [Redacted]months statements.

10/31/2024

1

C

A

C

A

C

A

C

A

C

A

MO

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

599621802

33296415

Credit

Missing Document

General

Missing Document

Missing Document: Account Statements - Personal not provided

The loan file is missing an additional bank statement for account ending [Redacted] that was used for closing/reserves.

Reviewer Comment (2024-10-31): Exception cleared - Received [Redacted]months of bank statement for the account [Redacted]. Buyer Comment (2024-10-31): Please see image [Redacted], pages [Redacted]- [Redacted]and page [Redacted]reflecting [Redacted]months statements.

10/31/2024

1

C

A

C

A

C

A

C

A

C

A

MO

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

582808259

33296422

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Calculated investor qualifying total debt ratio of ___ exceeds Guideline total debt ratio of ___.

Calculated investor qualifying total debt ratio of [Redacted]% exceeds Guideline total debt ratio of [Redacted]%.

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS) Borrower's own funds used for down payment and closing costs(no gifts or DPA)

SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-10-23): Lender Exception with Compensating Factors.

10/23/2024

2

B

B

B

B

B

B

B

B

B

B

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

582808259

33296424

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Calculated investor qualifying total debt ratio of [Redacted]% exceeds Guideline total debt ratio of [Redacted]%.

Reviewer Comment (2024-10-23): Lender Exception with Compensating Factors, system cleared

10/23/2024

1

B

A

C

A

B

A

C

A

B

A

AL

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

582808259

33296425

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Calculated investor qualifying total debt ratio of [Redacted]% exceeds Guideline total debt ratio of [Redacted]%.

Reviewer Comment (2024-10-23): Lender Exception with Compensating Factors, system cleared

10/23/2024

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

582808259

33296426

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General ATR Provision Investor and Non QM DTIs match and both moderately exceed Guidelines

Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of [Redacted]% moderately exceeds the guideline maximum of [Redacted] %. (DTI Exception is eligible to be regraded with compensating factors.)

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS) Borrower's own funds used for down payment and closing costs(no gifts or DPA)

SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-10-23): Lender Exception with Compensating Factors

10/23/2024

2

B

B

B

B

B

B

B

B

B

B

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

582808259

33296428

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Calculated investor qualifying total debt ratio of [Redacted]% exceeds Guideline total debt ratio of [Redacted]%.

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS) Borrower's own funds used for down payment and closing costs(no gifts or DPA)

SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2024-10-23): Lender Exception with Compensating Factors.

10/23/2024

2

B

B

B

B

B

B

B

B

B

B

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

582808259

33296429

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Calculated investor qualifying total debt ratio of [Redacted]% exceeds Guideline total debt ratio of [Redacted]%.

Reviewer Comment (2024-10-23): Lender Exception with Compensating Factors, system cleared

10/23/2024

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

507868102

33296432

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

Buyer Comment (2024-10-31): Approve

10/31/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

507868102

33296434

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Credit Report Fee. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. Sufficient cure is required.

Reviewer Comment (2024-11-04): [Redacted] received Letter of Explanation, Payment history and Corrected CD. Buyer Comment (2024-10-31): PCCD and payment history reflecting PR uploaded.

11/04/2024

2

C

B

C

B

C

B

C

B

C

B

TX

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

507868102

33296436

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2024-11-04): Sufficient Cure Provided within [Redacted]Days of Closing

11/04/2024

1

A

A

A

A

A

TX

Primary

Purchase

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

561672187

33296438

Compliance

Compliance

Federal Compliance

FACTA

Federal FACTA Disclosure Timing Test

FACTA Disclosure Rule: Creditor did not provide FACTA Credit Score Disclosure within a reasonably practicable time after using credit score.

Creditor did not provide FACTA Credit Score Disclosure within a reasonably practicable time after using credit score.

Reviewer Comment (2024-11-26): Documents received, system cleared. Buyer Comment (2024-11-12): both pages of disc tracking including facta disclosure delivery uploaded Reviewer Comment (2024-11-11): Missing second page of disclosure tracking to reflect document was sent to Borrower. Buyer Comment (2024-11-08): disclosure tracking supporting delivery and receipt date and fair credit report act disc uploaded Buyer Comment (2024-11-05): signed facta disclosure uploaded

11/26/2024

1

B

A

B

A

B

A

B

A

B

A

TX

Primary

Purchase

B

A

A

A

B

A

A

A

Non QM

Non QM

No

525181598

33296457

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by $[Redacted]. Provide verification of policy with sufficient coverage OR provide copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2024-11-11): Dwelling coverage amount covering the loan amount. Exception cleared. Buyer Comment (2024-11-06): subject hazard policy, minimum coverage requirements (loan amount) and use of existing policy guidelines uploaded

11/11/2024

1

C

A

C

A

C

A

C

A

C

A

TN

Primary

Refinance - Cash-out - Debt Consolidation

C

A

C

A

A

A

A

A

Non QM

Non QM

No

558741905

33296465

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Security Instrument - Subject Lien not provided

Received Security Instrument - Subject Lien in initial package 1 page is missing. Required complete Security Instrument.

Reviewer Comment (2024-11-15): Exception Cleared - Received Security Instrument with all pages associated the same. Buyer Comment (2024-11-14): All pages of DOT including legal description uploaded

11/15/2024

1

D

A

D

A

D

A

D

A

D

A

MD

Primary

Purchase

D

A

D

A

B

A

A

A

Non QM

Non QM

No

558741905

33296468

Compliance

Compliance

State Compliance

State HPML

(State HPML Disclosure) Maryland Higher-Priced Mortgage Loan (Disclosure of Non-HPML Loans Borrower Qualifies For Not Provided)

Maryland Higher-Priced Mortgage Loan:  Borrower not provided with written disclosure of non-higher priced loans otherwise qualified for.

Borrower not provided with written disclosure of non-higher priced loans otherwise qualified for.

Reviewer Comment (2025-04-16): Evidence of delivery was in loan file, sample form provided. Buyer Comment (2024-11-26): Approve Reviewer Comment (2024-11-25): Disclosure provided does not reflect required terms:  Borrower not provided with written disclosure of non-higher priced loans otherwise qualified for. Buyer Comment (2024-11-14): non-prime and near-prime disclosure uploaded

04/16/2025

1

B

A

B

A

B

A

B

A

B

A

MD

Primary

Purchase

D

A

D

A

B

A

A

A

Non QM

Non QM

No

558741905

33296469

Compliance

Compliance

State Compliance

State HPML

Maryland HPML Threshold Test Non-Compliant

Maryland Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted] % is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Loan.

APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%. Non-Compliant Higher Priced Loan.

Reviewer Comment (2025-04-16): Evidence of delivery was in loan file, sample form provided. Buyer Comment (2024-11-27): accept Reviewer Comment (2024-11-25): Disclosure provided does not reflect required terms:  Borrower not provided with written disclosure of non-higher priced loans otherwise qualified for. Buyer Comment (2024-11-15): non-prime disclosure uploaded

04/16/2025

1

B

A

B

A

B

A

B

A

B

A

MD

Primary

Purchase

D

A

D

A

B

A

A

A

Non QM

Non QM

No

558741905

33296471

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Cure provided and no valid COC provided.

Reviewer Comment (2024-11-08): Sufficient Cure Provided At Closing

11/08/2024

1

A

A

A

A

A

A

A

A

A

A

MD

Primary

Purchase

Final CD evidences Cure

D

A

D

A

B

A

A

A

Non QM

Non QM

Yes

515772049

33296474

Compliance

Compliance

State Compliance

Misc. State Level

Ohio Consumer Sales Practices Act (Right Not To Close Disclosure Not Provided)

Ohio Consumer Sales Practices Act: Borrower not provided Right Not To Close Disclosure.

Borrower not provided Right Not To Close Disclosure.

Reviewer Comment (2024-12-02): Disclosure provided, system cleared. Buyer Comment (2024-11-18): signed form uploaded

12/02/2024

1

B

A

B

A

B

A

B

A

B

A

OH

Primary

Refinance - Cash-out - Other

B

A

A

A

B

A

A

A

Non QM

Non QM

No

515772049

33296475

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2024-10-30): Sufficient Cure Provided within [Redacted]Days of Closing

10/30/2024

1

A

A

A

A

A

A

A

A

A

A

OH

Primary

Refinance - Cash-out - Other

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

B

A

A

A

B

A

A

A

Non QM

Non QM

Yes

575335516

33296480

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

The transfer fax fee increased from $[Redacted] to $[Redacted] without a valid change of circumstance. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2024-12-05): [Redacted]received Letter of Explanation, Payment History and Corrected PCCD. Buyer Comment (2024-12-04): PCCD and payment history reflecting PR uploaded.

12/05/2024

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

575335516

33296481

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

The approval in file is not for the subject loan.

Reviewer Comment (2024-11-29): Approval document received and associated. Exception Cleared. Buyer Comment (2024-11-27): Loan approval uploaded.

11/29/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

559742764

33296482

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Lease amounts were used in income calculation.  The lease agreements are not located within the loan file for properties [Redacted] and [Redacted].

Reviewer Comment (2024-11-29): Exception cleared. Received lease agreements and updated correctly. Buyer Comment (2024-11-27): Leases for requested properties attached.

11/29/2024

1

C

A

C

A

C

A

C

A

C

A

WI

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

559742764

33296484

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

The Borrower owns two investment properties and rents were used to off set the PITIA.  The Lease agreements were not located within the loan file.

Reviewer Comment (2024-11-29): Exception cleared. Received lease agreements for REO Properties and updated correctly. Buyer Comment (2024-11-27): Please see finding [Redacted].

11/29/2024

1

C

A

C

A

C

A

C

A

C

A

WI

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

559742764

33296486

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

The Borrower owns two investment properties and rents were used to off set the PITIA.  The Lease agreements were not located within the loan file.

Reviewer Comment (2024-12-12): System cleared after Lender Exception with Compensating Factors provided. Buyer Comment (2024-11-27): Please see finding [Redacted].

12/12/2024

1

B

A

C

A

B

A

C

A

B

A

WI

Primary

Purchase

Lender to provide updated ATR/QM status

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

559742764

33296487

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - REO 25% Method

Ability to Repay (Dodd-Frank 2014): Unable to verify Real Estate Owned income ([Redacted]% Method) using reasonably reliable third-party records.

The Borrower owns two investment properties and rents were used to off set the PITIA.  The Lease agreements were not located within the loan file.

Reviewer Comment (2024-12-12): System cleared after Lender Exception with Compensating Factors provided. Buyer Comment (2024-11-27): Please see finding [Redacted].

12/12/2024

1

C

A

C

A

C

A

C

A

C

A

WI

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

559742764

33296488

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - REO 25% Method

Ability to Repay (Dodd-Frank 2014): Unable to verify Real Estate Owned income ([Redacted]% Method) using reasonably reliable third-party records.

The Borrower owns two investment properties and rents were used to off set the PITIA.  The Lease agreements were not located within the loan file.

Reviewer Comment (2024-12-12): System cleared after Lender Exception with Compensating Factors provided. Buyer Comment (2024-11-27): Please see finding [Redacted].

12/12/2024

1

C

A

C

A

C

A

C

A

C

A

WI

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

559742764

33296490

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The Borrower owns two investment properties and rents were used to off set the PITIA.  The Lease agreements were not located within the loan file.

Reviewer Comment (2024-12-12): System cleared after Lender Exception with Compensating Factors provided. Buyer Comment (2024-11-27): Please see finding [Redacted].

12/12/2024

1

C

A

C

A

C

A

C

A

C

A

WI

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

559742764

33296491

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

The Borrower owns two investment properties and rents were used to off set the PITIA.  The Lease agreements were not located within the loan file.

Reviewer Comment (2024-12-12): System cleared after Lender Exception with Compensating Factors provided.

12/12/2024

1

A

A

A

A

A

A

A

A

A

A

WI

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

559742764

33296492

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The Borrower owns two investment properties and rents were used to off set the PITIA.  The Lease agreements were not located within the loan file.

Reviewer Comment (2024-12-12): System cleared after Lender Exception with Compensating Factors provided. Buyer Comment (2024-11-27): Please see finding [Redacted].

12/12/2024

1

C

A

C

A

C

A

C

A

C

A

WI

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

504888235

33296510

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

The Credit Report Re-Issue fee was added on Closing Disclosure issued on [Redacted] and the loan file does not contain evidence of a Changed Circumstance or Tolerance Cure to Borrower.

Reviewer Comment (2024-11-13): [Redacted] Received Corrected PCCD, LOE and Payment history Buyer Comment (2024-11-12): Updated closing disclosure, cover letter and cure provided

11/13/2024

2

C

B

C

B

C

B

C

B

C

B

TX

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

504888235

33296513

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2024-11-13): Sufficient Cure Provided within [Redacted]Days of Closing

11/13/2024

1

A

A

A

A

A

TX

Primary

Purchase

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

556792214

33296515

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Current LLC in existence less than [Redacted] years.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Miscellaneous Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors provided. Qualifying Ratios of [Redacted]/[Redacted] or less. Borrower's own funds used for down payment and closing costs (no gifts or DPA). Excellent Credit Management with FICO [Redacted]+

SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2025-01-28): CF Update. Reviewer Comment (2024-11-05): Lender Exception with Compensating Factors.

11/05/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

515014791

33296519

Compliance

Compliance

Federal Compliance

FACTA

FACTA Disclosure Missing

FACTA Disclosure Rule: Creditor did not provide FACTA Credit Score Disclosure.

FACTA Disclosure is missing.

Reviewer Comment (2024-11-15): Exception cleared. Received FACTA Disclosure and updated correctly. Buyer Comment (2024-11-14): FACTA disclosure uploaded.

11/15/2024

1

B

A

B

A

B

A

B

A

B

A

NJ

Primary

Purchase

B

A

A

A

B

A

A

A

Non QM

Non QM

No

597344264

33296524

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Endorsement Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Title - Endorsement Fee was last disclosed as $[Redacted] on Loan Estimate but disclosed as $[Redacted] on Final Closing Disclosure.  File does not contain a valid change of circumstance for this fee, Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2024-11-04): Sufficient Cure Provided At Closing

11/04/2024

1

A

A

A

A

A

A

A

A

A

A

TX

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

597344264

33296525

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA Rescission - Disbursement Date Less than 3 Business Days From Transaction Date

Truth in Lending Act:  Subject loan transaction disbursed on [Redacted], prior to three (3) business days from transaction date of [Redacted].

The Final CD is not signed by the Borrower.

Reviewer Comment (2024-12-10): Material disclosures received on [Redacted] Buyer Comment (2024-11-26): Consummation CD uploaded. Reviewer Comment (2024-11-25): The final CD is not signed by the Borrower to reflect transaction date. Buyer Comment (2024-11-13): Please note, rescission expires on [Redacted] and loan disbursed on [Redacted]after the [Redacted]day waiting period.  Exception is invalid.

12/10/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

597344264

33296526

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA Notice of Right to Cancel Expiration Date Prior or equal to Disbursement Date

Truth in Lending Act:  Actual Date(s) on Notice of Right to Cancel occurs prior to expected date(s).

The Final CD is not signed by the Borrower.

Reviewer Comment (2024-12-10): Material disclosures received on [Redacted] Buyer Comment (2024-11-26): Consummation CD uploaded. Reviewer Comment (2024-11-25): The final CD is not signed by the Borrower to reflect transaction date. Buyer Comment (2024-11-13): Please note, rescission expires on [Redacted] and loan disbursed on [Redacted] after the three day waiting period.  Exception is invalid.

12/10/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

583529659

33296545

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Processing Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2024-11-06): Sufficient Cure Provided At Closing

11/06/2024

1

A

A

A

A

A

A

A

A

A

A

TX

Primary

Purchase

Final CD evidences Cure

B

B

B

B

A

A

A

A

Non QM

Non QM

Yes

583529659

33296546

Credit

Credit

Credit Documentation

Guideline

The Verification of Rent (VOR) / Verification of Mortgage (VOM) is required and was not found in file.

Lender granted exception approved due to Unverifiable housing for the primary residence.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum.

Substantial Cash Reserves Borrower's own funds used for Down Payment & Closing (No gifts or DPA) Low default risk with substantial equity, LTV [Redacted]% lower than matrix

SitusAMC,Originator SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC

Reviewer Comment (2024-11-08): Lender granted exception approval with compensating factors in loan file.

11/08/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

583529659

33296547

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

Lender granted exception approved due to Unverifiable housing for the primary residence.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum.

Substantial Cash Reserves Borrower's own funds used for Down Payment & Closing (No gifts or DPA) Low default risk with substantial equity, LTV [Redacted]% lower than matrix

SitusAMC,Originator SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC

Reviewer Comment (2024-11-08): Lender granted exception approval with compensating factors in loan file.

11/08/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

513341206

33296569

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA - Incorrect Right To Cancel Form Used - H-8 Used on Same Lender Refinance (Circuit 2, 5, 7, 8, 9, 10 or DC)

Truth in Lending Act: Notice of Right to Cancel was not executed on the proper Model Form for a refinancing by the same creditor. The H-8 form was used, the H-9 form should have been used.

Notice of Right to Cancel was not executed on the proper Model Form for a refinancing by the same creditor. The H-8 form was used, the H-9 form should have been used. Remove/Clear Exceptions

Buyer Comment (2024-11-25): Approve

11/25/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Refinance - Rate/Term

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

513341206

33296570

Compliance

Compliance

State Compliance

State Defect

Compliant Texas 50(f)(2) loan without signed TX50(f)(2) Affidavit.  Loan is reviewed as a TX50(f)(2) loan.

[Redacted] Constitution Section 50(f-1) Affidavit Acknowledging Requirements of Subsection (f)(2) not in file, however, review of loan file indicates loan meets all conditions in 50(f)(2)(a) to (d).  Loan is not reviewed as a [Redacted](a)(6) loan.

Reviewer Comment (2024-12-04): Documents received, system cleared. Buyer Comment (2024-11-25): TX disclosure uploaded.

12/04/2024

1

A

A

A

A

A

A

A

A

A

A

TX

Primary

Refinance - Rate/Term

B

B

A

A

B

B

A

A

Non QM

Non QM

No

513341206

33296571

Compliance

Compliance

State Compliance

State Defect

Compliant Texas 50(f)(2) loan with unsigned TX50(f)(2) Affidavit.  Loan is reviewed as a TX50(f)(2) loan.

[Redacted] Constitution Section 50(f-1) Affidavit Acknowledging Requirements of Subsection (f)(2) in file is not executed by owner/owner's spouse, however, review of loan file indicates loan meets all conditions in 50(f)(2)(a) to (d).  Loan is not reviewed as a [Redacted] (a)(6) loan.

Reviewer Comment (2024-12-04): Documents received, system cleared.

12/04/2024

1

A

A

A

A

A

TX

Primary

Refinance - Rate/Term

B

B

A

A

B

B

A

A

Non QM

Non QM

No

564481545

33296603

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal was made "subject to" and Form 1004D/442 was not provided.

-

The Appraisal report reflects subject to add the additional land/pond onto the existing parcel with the dwelling.  The 442 report was not located within the loan file.

Reviewer Comment (2025-01-23): As is appraisal provided Buyer Comment (2025-01-10): Appraisal reflecting "as is" uploaded. Reviewer Comment (2024-12-16): Exception Remains - Required [Redacted] as appraisal is made Subject to provided title commitment is not acceptable. Buyer Comment (2024-12-12): Final title commitment reflecting PPN included on property per appraiser request.

01/23/2025

1

C

A

C

A

C

A

C

A

C

A

OH

Primary

Purchase

C

B

B

B

C

B

C

A

Non QM

Non QM

No

564481545

33296608

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

The loan file does not contain evidence the Borrower received the final appraisal prior to or at closing.

Buyer Comment (2024-11-21): Approve

11/21/2024

2

B

B

B

B

B

B

B

B

B

B

OH

Primary

Purchase

C

B

B

B

C

B

C

A

Non QM

Non QM

No

564481545

33296609

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

The Credit Report re-issue fee on the Closing Statement issued on [Redacted] was $[Redacted] and the Closing Disclosure issued on [Redacted] increased the fee to $[Redacted]. The loan file did not contain a Changed Circumstance for the increase of this fee.

Reviewer Comment (2024-11-27): [Redacted]received Letter of Explanation, Payment history and Corrected CD. Buyer Comment (2024-11-26): Please see page[Redacted] of the PCCD, doc [Redacted]of image [Redacted]reflecting wording reviewer is requesting. Reviewer Comment (2024-11-22): [Redacted]received Post CD, payment history and LOX however the post cd is only reflecting principal reduction whereas we would require post CD to be mentioned as principal reduction to borrower for exceeding legal limits for cure. Buyer Comment (2024-11-21): Please see image [Redacted], PCCD reflecting PR and image [Redacted]pay history reflecting PR.

11/27/2024

2

C

B

C

B

C

B

C

B

C

B

OH

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

C

A

Non QM

Non QM

Yes

564481545

33296610

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Property is marked rural which is ineligible per guidelines.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Substantial cash reserves. Borrower's own funds used for down payment & closing (No gifts or DPA). Excellent credit management with FICO [Redacted]+. Prior homeownership Experience (No FC or Short Sale). Lender Exception with Compensating Factors provided.

SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC Originator SitusAMC Originator,SitusAMC

Reviewer Comment (2025-01-28): Lender Exception with Compensating Factors provided. Reviewer Comment (2024-11-19): Lender exception with compensating factors.

11/19/2024

2

B

B

B

B

B

B

B

B

B

B

OH

Primary

Purchase

C

B

B

B

C

B

C

A

Non QM

Non QM

No

564481545

33296611

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2024-11-27): Sufficient Cure Provided within [Redacted] Days of Closing

11/27/2024

1

A

A

A

A

A

OH

Primary

Purchase

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

C

B

B

B

C

B

C

A

Non QM

Non QM

Yes

564481545

33296612

Credit

Guideline

Guideline Issue

Guideline

The property site acres is greater than 10 acres which does not meet guidelines.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Substantial cash reserves. Borrower's own funds used for down payment & closing (No gifts or DPA). Excellent credit management with FICO [Redacted]+. Prior homeownership Experience (No FC or Short Sale). Lender Exception with Compensating Factors provided.

SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC Originator SitusAMC Originator,SitusAMC

Reviewer Comment (2025-01-28): Lender Exception with Compensating Factors provided.

01/28/2025

2

B

B

B

B

B

OH

Primary

Purchase

C

B

B

B

C

B

C

A

Non QM

Non QM

No

510702031

33296614

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation (Report Date [Redacted]) to applicant three (3) business days prior to consummation.

Buyer Comment (2024-12-10): Approve Reviewer Comment (2024-12-09): Grade is EV2. Buyer Comment (2024-11-26): Please note, revised appraisal can be delivered post consummation and be downgraded and waived. Reviewer Comment (2024-11-25): Exception Remain - Required Receipt of Appraisal delivered to borrower prior to note date provided document is post note dated. Buyer Comment (2024-11-15): Proof of appraisal delivery to borrower, emailed updated copy to borrower. Revision was for sales price and did not impact value. Please reduce exception grade to [Redacted] Buyer Comment (2024-11-15): Borrower receipt of CDA report uploaded

12/10/2024

2

B

B

B

B

B

B

B

B

B

B

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

510702031

33296615

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted] % or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2024-12-09): Delivery of appraisal after closing provided. Buyer Comment (2024-11-26): Please note, revised appraisal can be delivered post consummation and be downgraded and waived. Reviewer Comment (2024-11-25): Exception Remain - Required Receipt of Appraisal delivered to borrower prior to note date provided document is post note dated. Buyer Comment (2024-11-15): Proof of appraisal delivery to borrower, emailed updated copy to borrower. Revision was for sales price and did not impact value. Please reduce exception grade to [Redacted]

12/09/2024

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

510702031

33296616

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation (Report Date [Redacted]) to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-12-09): Delivery of appraisal after closing provided. Buyer Comment (2024-11-26): Please note, revised appraisal can be delivered post consummation and be downgraded and waived. Reviewer Comment (2024-11-25): Exception Remain - Required Receipt of Appraisal delivered to borrower prior to note date provided document is post note dated. Buyer Comment (2024-11-15): Proof of appraisal delivery to borrower, emailed updated copy to borrower. Revision was for sales price and did not impact value. Please reduce exception grade to [Redacted] Buyer Comment (2024-11-15): Borrower receipt of report

12/09/2024

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

510702031

33296618

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Subject property does not meet the minimum square footage (Minimum square footage per guidelines is [Redacted], actual square footage is [Redacted]).

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Miscellaneous Miscellaneous

Low default risk with equity, LTV [Redacted]% lower than matrix. Borrower's own funds used for down payment and closing (No gifts or dpa). Prior homeownership experience (No FC or Short Sale).

SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2024-11-14): Lender exception with compensating factors.

11/14/2024

2

B

B

B

B

B

B

B

B

B

B

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

510702031

33296619

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

Subject property does not meet the minimum square footage (Minimum square footage per guidelines is [Redacted], actual square footage is [Redacted]) and Non-Warrantable Condo (Guidelines require full project approval on all condos).

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Miscellaneous Miscellaneous

Low default risk with equity, LTV [Redacted]% lower than matrix. Borrower's own funds used for down payment and closing (No gifts or dpa). Prior homeownership experience (No FC or Short Sale).

SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2024-11-14): Lender exception with compensating factors.

11/14/2024

2

B

B

B

B

B

B

B

B

B

B

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

510702031

33296620

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Investor Qualifying Residual income discrepancy.

Calculated investor qualifying disposable income of ___ is less than AUS required disposable income of ___.

Borrower does not meet the minimum residual income (Minimum residual per guidelines is $[Redacted], borrower's actual $[Redacted]).

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Miscellaneous Miscellaneous

Low default risk with equity, LTV [Redacted]% lower than matrix. Borrower's own funds used for down payment and closing (No gifts or dpa). Prior homeownership experience (No FC or Short Sale).

SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2024-11-14): Lender exception with compensating factors.

11/14/2024

2

B

B

B

B

B

B

B

B

B

B

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

510702031

33296621

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Borrower does not meet the minimum residual income (Minimum residual per guidelines is $[Redacted], borrower's actual $[Redacted]).

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Miscellaneous Miscellaneous

Low default risk with equity, LTV [Redacted]% lower than matrix. Borrower's own funds used for down payment and closing (No gifts or dpa). Prior homeownership experience (No FC or Short Sale).

SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2024-11-14): Lender exception with compensating factors.

11/14/2024

2

B

B

B

B

B

B

B

B

B

B

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

510702031

33296622

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Non-Warrantable Condo (Guidelines require full project approval on all condos).

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Miscellaneous Miscellaneous

Low default risk with equity, LTV [Redacted]% lower than matrix. Borrower's own funds used for down payment and closing (No gifts or dpa). Prior homeownership experience (No FC or Short Sale).

SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2024-11-14): Lender exception with compensating factors.

11/14/2024

2

B

B

B

B

B

B

B

B

B

B

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

510702031

33296623

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Borrower does not meet the minimum residual income (Minimum residual per guidelines is $[Redacted], borrower's actual $[Redacted]).

Reviewer Comment (2024-11-14): Lender exception with compensating factors, system cleared.

11/14/2024

1

B

A

C

A

B

A

C

A

B

A

AL

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

510702031

33296624

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Borrower does not meet the minimum residual income (Minimum residual per guidelines is $[Redacted], borrower's actual $[Redacted]).

Reviewer Comment (2024-11-14): Lender exception with compensating factors, system cleared.

11/14/2024

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

510702031

33296625

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Borrower does not meet the minimum residual income (Minimum residual per guidelines is $[Redacted], borrower's actual $[Redacted]).

Reviewer Comment (2024-11-14): Lender exception with compensating factors, system cleared.

11/14/2024

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

510702031

33296627

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Delivery of appraisal after closing provided.

Buyer Comment (2024-12-10): Approve

12/10/2024

2

B

B

B

B

B

AL

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

534706113

33296629

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Divorce Decree / Child Support not provided

The Child Support evidence is missing from the loan file.

Reviewer Comment (2024-12-04): Exception cleared. Received child support document and updated correctly. Buyer Comment (2024-12-03): Attached.

12/04/2024

1

C

A

C

A

C

A

C

A

C

A

OH

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

534706113

33296631

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Appraisal report date is [Redacted] which is less than three business days from consummation date of [Redacted].

Buyer Comment (2024-12-03): Update which did not impact valuation.

12/03/2024

2

B

B

B

B

B

B

B

B

B

B

OH

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

534706113

33296632

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted] % or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%. Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2024-12-12): Delivery provided. Buyer Comment (2024-12-03): Please see finding [Redacted].

12/12/2024

1

C

A

C

A

C

A

C

A

C

A

OH

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

534706113

33296633

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Appraisal report date is [Redacted] which is less than three business days from consummation date of [Redacted].

Reviewer Comment (2024-12-12): Delivery provided. Buyer Comment (2024-12-03): The [Redacted] copy was an update which did not affect valuation, see the earlier copy attached along with records of delivery of this internal copy. Please rescind this finding, [Redacted] will accept the grade [Redacted] already input.

12/12/2024

1

C

A

C

A

C

A

C

A

C

A

OH

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

534706113

33296635

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-12-12): Client elects to Waive.

12/12/2024

2

B

B

B

B

B

OH

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

538166133

33296638

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

Reviewer Comment (2024-12-05): Exception Cleared - Received UCDP submission report from Fannie Mae associated the same and data updated as per provided documents. Buyer Comment (2024-12-04): FNMA CU PR attached.

12/05/2024

1

D

A

D

A

D

A

D

A

D

A

TX

Primary

Refinance - Cash-out - Other

D

A

A

A

C

A

D

A

Non QM

Non QM

No

538166133

33296639

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-12-05): Exception Cleared - Received receipt of appraisal delivered to borrower data updated as per provided documents. Buyer Comment (2024-12-04): Attached to finding [Redacted].

12/05/2024

1

B

A

B

A

B

A

B

A

B

A

TX

Primary

Refinance - Cash-out - Other

D

A

A

A

C

A

D

A

Non QM

Non QM

No

538166133

33296640

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2024-12-05): Exception Cleared - Received receipt of appraisal delivered to borrower data updated as per provided documents. Buyer Comment (2024-12-04): Waterfall of [Redacted].

12/05/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

D

A

A

A

C

A

D

A

Non QM

Non QM

No

538166133

33296641

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-12-05): Exception Cleared - Received receipt of appraisal delivered to borrower data updated as per provided documents. Buyer Comment (2024-12-04): Attached.

12/05/2024

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

D

A

A

A

C

A

D

A

Non QM

Non QM

No

504874089

33296646

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

1004 includes a 1007, Single Family Comparable Rent Schedule, when loan is marked as owner occupied, primary residence.

Reviewer Comment (2024-12-12): Lender states 1007 is not used. Buyer Comment (2024-12-04): The 1007 was not necessary and was not completed by the second appraiser, [Redacted], whose valuation was used to qualify the subject transaction.

12/12/2024

1

C

A

C

A

C

A

C

A

C

A

IN

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

504874089

33296647

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Provided Prior to Date Performed

ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements.

Appraisal delivered electronically.

Reviewer Comment (2024-12-12): Delivery provided. Buyer Comment (2024-12-04): Attached.

12/12/2024

1

B

A

B

A

B

A

B

A

B

A

IN

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

504874089

33296648

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2024-11-22): Sufficient Cure Provided At Closing

11/22/2024

1

A

A

A

A

A

A

A

A

A

A

IN

Primary

Purchase

Final CD evidences Cure

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

504874089

33296649

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-12-12): Delivery provided. Buyer Comment (2024-12-04): See attachment to finding [Redacted].

12/12/2024

1

B

A

B

A

B

A

B

A

B

A

IN

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

504874089

33296650

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2024-12-12): Delivery provided. Buyer Comment (2024-12-04): Waterfall of finding [Redacted].

12/12/2024

1

C

A

C

A

C

A

C

A

C

A

IN

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

504874089

33296651

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-12-12): Delivery provided. Buyer Comment (2024-12-04): Attached.

12/12/2024

1

C

A

C

A

C

A

C

A

C

A

IN

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

583580304

33296654

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-12-05): Received deliver of appraisal document. Exception cleared. Buyer Comment (2024-12-04): Attached to [Redacted].

12/05/2024

1

B

A

B

A

B

A

B

A

B

A

NY

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

583580304

33296655

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2024-12-05): Received deliver of appraisal document. Exception cleared. Buyer Comment (2024-12-04): Waterfall of [Redacted].

12/05/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

583580304

33296656

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-12-05): Received deliver of appraisal document. Exception cleared. Buyer Comment (2024-12-04): Attached.

12/05/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

583580304

33296658

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Credit Report Fee was last disclosed as $[Redacted] on LE but disclosed as $[Redacted] on Final Closing Disclosure. File does not contain a valid COC for this fee, nor evidence of cure in file.

Reviewer Comment (2024-12-05): [Redacted]received Letter of Explanation, Payment history and Corrected CD. Buyer Comment (2024-12-04): Attached docs show cure already completed.

12/05/2024

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

583580304

33296659

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Reinspection Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Reinspection Fee was last disclosed as $[Redacted] on LE but disclosed as $[Redacted] on Final Closing Disclosure. File does not contain a valid COC for this fee, nor evidence of cure in file.

Reviewer Comment (2024-12-05): [Redacted] received a valid COC. Buyer Comment (2024-12-04): The appraisal returned on[Redacted] with a valuation that was Subject To Completion, which then necessitated a reinspection to confirm the required items were completed. The [Redacted] LE disclosed this change of circumstance and a $[Redacted]reinspection fee; all subsequent LEs also included a $[Redacted]reinspection fee.

12/05/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

583580304

33296660

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2024-12-05): Sufficient Cure Provided within [Redacted]Days of Closing

12/05/2024

1

A

A

A

A

A

NY

Primary

Purchase

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

518128307

33296681

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2024-11-21): Sufficient Cure Provided At Closing

11/21/2024

1

A

A

A

A

A

A

A

A

A

A

OH

Primary

Purchase

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

Yes

521750472

33296685

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Ineligible Property Type. Rural

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous Miscellaneous The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS) Borrower's own funds used for down payment and closing (no gifts or DPA) Lender Exception with Compensating Factors.

SitusAMC SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator Originator SitusAMC Originator,SitusAMC

Reviewer Comment (2024-12-04): Acreage securing the loan may not exceed [Redacted]acres

12/04/2024

2

B

B

B

B

B

B

B

B

B

B

ME

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

521750472

33296686

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

Ineligible Property Type. Rural and Max Acreage.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous Miscellaneous The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS) Borrower's own funds used for down payment and closing (no gifts or DPA) Lender Exception with Compensating Factors.

SitusAMC SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator Originator SitusAMC Originator,SitusAMC

Reviewer Comment (2024-12-04): Lender Exception with Compensating Factors.

12/04/2024

2

B

B

B

B

B

B

B

B

B

B

ME

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

521750472

33296687

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Acreage securing the loan may not exceed [Redacted] acres

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous Miscellaneous The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS) Borrower's own funds used for down payment and closing (no gifts or DPA) Lender Exception with Compensating Factors.

SitusAMC SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator Originator SitusAMC Originator,SitusAMC

Reviewer Comment (2024-12-04): Acreage securing the loan may not exceed [Redacted]acres

12/04/2024

2

B

B

B

B

B

B

B

B

B

B

ME

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

540100938

33296696

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

For securitization requirements, a secondary valuation review product is required, which supports original appraised value.  There was no UCDP in file. OR The UCDP in file had a risk score of [Redacted], which does not meet securitization requirements.

Reviewer Comment (2024-12-16): Exception cleared. Received UCDP reports and updated correctly. Buyer Comment (2024-12-12): Please see attached, page [Redacted], which includes the FNMA CU Risk Score.

12/16/2024

1

D

A

D

A

D

A

D

A

D

A

NY

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

540100938

33296697

Compliance

Compliance

Federal Compliance

FACTA

Federal FACTA Disclosure Timing Test

FACTA Disclosure Rule: Creditor did not provide FACTA Credit Score Disclosure within a reasonably practicable time after using credit score.

The FACTA was not located within the loan file.

Reviewer Comment (2024-12-19): Disclosure provided. Buyer Comment (2024-12-12): See attached.

12/19/2024

1

B

A

B

A

B

A

B

A

B

A

NY

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

540100938

33296699

Credit

Credit

Credit Eligibility

Credit

There are red flags on the fraud report that have not been addressed

-

The Red-Flagged issues listed on the Fraud Report were not cleared.

Reviewer Comment (2025-01-14): Documents received, system cleared. Buyer Comment (2024-12-26): Complete copy attached including commentary. Reviewer Comment (2024-12-19): DRIVE report does not reflect items were addressed. UW comments missing. Buyer Comment (2024-12-12): Attached version is complete prior to close.

01/14/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

540100938

33296700

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted].

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted].

Residual income > than $[Redacted]. Borrower's own funds used for down payment & closing (No gifts or DPA).

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2024-12-04): Lender exception with compensating factors.

12/04/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

540100938

33296701

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted].

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted].

Residual income > than $[Redacted]. Borrower's own funds used for down payment & closing (No gifts or DPA).

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2024-12-04): Lender exception with compensating factors.

12/04/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

540100938

33296702

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted].

Reviewer Comment (2024-12-04): Lender exception with compensating factors, system cleared.

12/04/2024

1

B

A

C

A

B

A

C

A

B

A

NY

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

D

B

C

B

C

A

D

A

Non QM

Non QM

Yes

540100938

33296703

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted].

Reviewer Comment (2024-12-04): Lender exception with compensating factors, system cleared.

12/04/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

540100938

33296704

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted].

Reviewer Comment (2024-12-04): Lender exception with compensating factors, system cleared.

12/04/2024

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

580173217

33296707

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Timing Before Closing

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on [Redacted] not received by borrower at least four (4) business days prior to closing.

The [Redacted] Loan Estimate is not signed/dated and there is no other evidence in loan file the borrower received the revised loan estimate at least 4 business days before closing.

Reviewer Comment (2024-12-18): [Redacted]received proof of receipt. Buyer Comment (2024-12-17): Borrower received electronically same day, see attached.

12/18/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

No Defined Cure

C

B

A

A

C

B

A

A

Non QM

Non QM

No

580173217

33296708

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Delivery of report in file was on [Redacted] and closing was [Redacted].

Buyer Comment (2024-12-26): accept Buyer Comment (2024-12-17): Earlier version was provided more than three days prior. The version sent [Redacted] was an update which did not affect value.

12/26/2024

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

C

B

A

A

C

B

A

A

Non QM

Non QM

No

580173217

33296709

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA - Incorrect Right To Cancel Form Used - H-8 Used on Same Lender Refinance (Circuit 2, 5, 7, 8, 9, 10 or DC)

Truth in Lending Act: Notice of Right to Cancel was not executed on the proper Model Form for a refinancing by the same creditor. The H-8 form was used, the H-9 form should have been used.

Buyer Comment (2024-12-17): Concur

12/17/2024

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

580173217

33296710

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Buyer Comment (2024-12-17): Update did not affect value

12/17/2024

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

C

B

A

A

C

B

A

A

Non QM

Non QM

No

570134712

33296712

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Hazard Insurance Coverage Amount is insufficient. Coverage shortfall $[Redacted]. Provide updated Hazard Insurance Policy with Dwelling Coverage of at least $[Redacted] or Replacement Cost Estimator.

Reviewer Comment (2024-12-19): Sufficient coverage provided. Buyer Comment (2024-12-12): Also see additional information from HOI policy which is showing an additional extended coverage for [Redacted]% on top of the dwelling amount. $[Redacted]X [Redacted]% = $[Redacted]+ Other Structures $[Redacted]= $[Redacted] Buyer Comment (2024-12-12): Please see Guidelines and HOI policy showing dwelling amount $[Redacted]+ Other Structures $[Redacted]= $[Redacted]Which is enough according with guidelines because is more than Loan amount $[Redacted]

12/19/2024

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

570134712

33296713

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation (Report Date [Redacted]) to applicant three (3) business days prior to consummation.

Reviewer Comment (2024-12-19): Delivery provided. Buyer Comment (2024-12-18): Please see Proof of appraisal been delivered to our bwr until [Redacted]

12/19/2024

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

570134712

33296716

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The loan file does not document the Borrower's ownership percentage in the business used for income qualification, that the business has been in existence for two years and does not document a verification of the business within 10 days of closing.

Reviewer Comment (2025-01-23): Documents received, system cleared. Buyer Comment (2025-01-10): Please see CPA letter attached dated before closing date Reviewer Comment (2024-12-19): Verification of [Redacted] yr self employment and that business is active, however percentage of ownership not verified by a 3rd party. Buyer Comment (2024-12-12): Please see existence of business for last two yrs and VVOE between [Redacted] days of closing attached.

01/23/2025

1

B

A

C

A

B

A

C

A

B

A

CA

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

570134712

33296717

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The loan file does not document the Borrower's ownership percentage in the business used for income qualification, that the business has been in existence for two years and does not document a verification of the business within 10 days of closing.

Reviewer Comment (2025-01-23): Documents received, system cleared. Buyer Comment (2025-01-10): Please see CPA letter attached dated before closing date. Reviewer Comment (2024-12-19): Verification of [Redacted] yr self employment and that business is active, however percentage of ownership not verified by a 3rd party. Buyer Comment (2024-12-12): Please see existence of business for last two yrs and VVOE between [Redacted] days of closing attached.

01/23/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

570134712

33296718

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The loan file does not document the Borrower's ownership percentage in the business used for income qualification, that the business has been in existence for two years and does not document a verification of the business within 10 days of closing.

Reviewer Comment (2025-01-23): Documents received, system cleared. Buyer Comment (2025-01-10): Please see CPA letter attached dated before closing date Reviewer Comment (2024-12-19): Verification of [Redacted] yr self employment and that business is active, however percentage of ownership not verified by a 3rd party. Buyer Comment (2024-12-12): Please see existence of business for last [Redacted]yrs and VVOE between [Redacted]days of closing attached.

01/23/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

570134712

33296719

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

The loan file does not document the Borrower's ownership percentage in the business used for income qualification, that the business has been in existence for two years and does not document a verification of the business within 10 days of closing.

Reviewer Comment (2025-01-23): Documents received, system cleared. Buyer Comment (2025-01-10): Please see CPA letter attached dated before closing date Reviewer Comment (2024-12-19): Verification of [Redacted]yr self employment and that business is active, however percentage of ownership not verified by a 3rd party. Buyer Comment (2024-12-18): Please see proof of ownership attached. Reviewer Comment (2024-12-16): Third party verification provided and updated. Require CPA or operating agreement to verify ownership of borrower in the business. Exception remains Buyer Comment (2024-12-12): Please see existence of business for last [Redacted]yrs and VVOE between [Redacted]days of closing attached.

01/23/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

570134712

33296720

Credit

Credit

Credit Documentation

Guideline

Aged document: Credit Report  is more than 90 days prior to the note date.

-

Reviewer Comment (2025-03-20): Credit report is dated [Redacted] which is within [Redacted] days exception cleared. Buyer Comment (2025-03-19): Please see Credit report and soft report attached. Daye of the Note was [Redacted] vs credit report [Redacted] and soft report date [Redacted]

03/20/2025

1

A

A

A

A

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

570134712

33296721

Credit

Credit

Credit Documentation

Guideline

Aged document: Credit Report  is more than 90 days prior to the note date.

-

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than X years. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Lender Exception with Compensating Factors provided. - Low default risk with substantial equity, LTV 25% lower than matrix. - Qualifying Ratios of 23/28 or less. - Excellent Credit Management with FICO 720+ Prior Homeownership Experience (No FC or SS).

SitusAMC SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2025-04-04): Lender Exception with Compensating Factors provided.

04/04/2025

2

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

555672187

33296724

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

Buyer Comment (2024-12-11): Approve

12/11/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

523948042

33296727

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

The Appraisal Report is dated the same day as Note.  The loan file does not contain evidence of an appraisal waiver form for the Borrower to receive less than three days prior to Note date.

Buyer Comment (2024-12-17): Value estimate unchanged

12/17/2024

2

B

B

B

B

B

B

B

B

B

B

CT

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

523948042

33296728

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2024-12-23): Document Provided and updated - Exception cleared Buyer Comment (2024-12-17): Waterfall of [Redacted].

12/23/2024

1

C

A

C

A

C

A

C

A

C

A

CT

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

523948042

33296729

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

The Appraisal Report is dated the same day as Note.  The loan file does not contain evidence of an appraisal waiver form for the Borrower to receive less than three days prior to Note date.

Reviewer Comment (2024-12-23): Document Provided and updated - Exception cleared Buyer Comment (2024-12-17): The original appraisal was completed on [Redacted] and sent the same day; the [Redacted] appraisal was an update that did not affect value. Original appraisal and evidence of delivery of both attached.

12/23/2024

1

C

A

C

A

C

A

C

A

C

A

CT

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

523948042

33296733

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

The loan file does not contain third party evidence the Borrower is [Redacted]% owner of self-employed business.

Reviewer Comment (2025-01-14): Documents received, system cleared. Reviewer Comment (2024-12-30): Required CPA Letter showing borrower Ownership % in the business. Exception Remains. Buyer Comment (2024-12-26): That document is dated from [Redacted], documentation on pages [Redacted]-[Redacted]is more current and shows [Redacted] as the sole member/owner/principal. The most recent annual report is on page [Redacted]. [Redacted] was removed as a principal on page [Redacted]. Reviewer Comment (2024-12-23): Articles of organization specifies "[Redacted]" and "[Redacted]" as manager or Member of the business entity. Require CPA letter/Operating Agreement to confirm ownership of borrower in qualifying business entity - Exception Remains Buyer Comment (2024-12-17): Page [Redacted]/[Redacted]in Acuity shows the borrower is the sole member of the self-employed business. Page [Redacted]/[Redacted]defines "member" as owners of the LLC. Because business records confirm the borrower is the sole member, she is [Redacted]% owner.

01/14/2025

1

C

A

C

A

C

A

C

A

C

A

CT

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

523948042

33296734

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The loan file does not contain third party evidence the Borrower is [Redacted]% owner of self-employed business.

Reviewer Comment (2025-01-14): Documents received, system cleared. Buyer Comment (2024-12-26): Please see commentary in exception ID [Redacted]. Reviewer Comment (2024-12-23): Articles of organization specifies "[Redacted]" and "[Redacted]" as manager or Member of the business entity. Require CPA letter/Operating Agreement to confirm ownership of borrower in qualifying business entity - Exception Remains Buyer Comment (2024-12-17): Page [Redacted]/[Redacted]in Acuity shows the borrower is the sole member of the self-employed business. Page [Redacted]/[Redacted]defines "member" as owners of the LLC. Because business records confirm the borrower is the sole member, she is [Redacted]% owner.

01/14/2025

1

B

A

C

A

B

A

C

A

B

A

CT

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM Loan Designation

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

523948042

33296735

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The loan file does not contain third party evidence the Borrower is [Redacted]% owner of self-employed business.

Reviewer Comment (2025-01-14): Documents received, system cleared. Buyer Comment (2024-12-26): Please see commentary in exception ID [Redacted]. Reviewer Comment (2024-12-23): Articles of organization specifies "[Redacted]" and "[Redacted]" as manager or Member of the business entity. Require CPA letter/Operating Agreement to confirm ownership of borrower in qualifying business entity - Exception Remains Buyer Comment (2024-12-17): Page [Redacted]/[Redacted]in Acuity shows the borrower is the sole member of the self-employed business. Page [Redacted]/[Redacted]defines "member" as owners of the LLC. Because business records confirm the borrower is the sole member, she is [Redacted]% owner.

01/14/2025

1

C

A

C

A

C

A

C

A

C

A

CT

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

523948042

33296736

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

The loan file does not contain third party evidence the Borrower is [Redacted]% owner of self-employed business.

Reviewer Comment (2025-01-14): Documents received, system cleared. Reviewer Comment (2024-12-30): Required CPA Letter showing borrower Ownership % in the business. Exception Remains. Buyer Comment (2024-12-26): Please see commentary in exception ID [Redacted]. Reviewer Comment (2024-12-23): Articles of organization specifies "[Redacted]" and "[Redacted]" as manager or Member of the business entity. Require CPA letter/Operating Agreement to confirm ownership of borrower in qualifying business entity - Exception Remains Buyer Comment (2024-12-17): Page [Redacted]/[Redacted]in Acuity shows the borrower is the sole member of the self-employed business. Page [Redacted]/[Redacted]defines "member" as owners of the LLC. Because business records confirm the borrower is the sole member, she is [Redacted]% owner.

01/14/2025

1

C

A

C

A

C

A

C

A

C

A

CT

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

523948042

33296737

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The loan file does not contain third party evidence the Borrower is [Redacted]% owner of self-employed business.

Reviewer Comment (2025-01-14): Documents received, system cleared. Buyer Comment (2024-12-26): Please see commentary in exception ID [Redacted]. Reviewer Comment (2024-12-23): Articles of organization specifies "[Redacted]" and "[Redacted]" as manager or Member of the business entity. Require CPA letter/Operating Agreement to confirm ownership of borrower in qualifying business entity - Exception Remains Buyer Comment (2024-12-17): Page [Redacted]/[Redacted]in Acuity shows the borrower is the sole member of the self-employed business. Page [Redacted]/[Redacted]defines "member" as owners of the LLC. Because business records confirm the borrower is the sole member, she is [Redacted]% owner.

01/14/2025

1

C

A

C

A

C

A

C

A

C

A

CT

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

523948042

33296739

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

The Appraisal Report is dated same day as Note. The loan file does not contain evidence of an Appraisal Waiver

Buyer Comment (2025-01-14): Accept

01/14/2025

2

B

B

B

B

B

CT

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

509940494

33296742

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2024-12-04): Sufficient Cure Provided within [Redacted] Days of Closing

12/04/2024

1

A

A

A

A

A

A

A

A

A

A

HI

Primary

Refinance - Rate/Term

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

B

A

B

A

A

A

A

A

Non QM

Non QM

Yes

509940494

33296743

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

The Title Policy Amount of $[Redacted] is less than the note amount of $[Redacted] based on the Commitment in file.

Reviewer Comment (2024-12-18): Final title policy provided, exception cleared. Buyer Comment (2024-12-11): Please see Final Title Insurance Policy

12/18/2024

1

B

A

B

A

B

A

B

A

B

A

HI

Primary

Refinance - Rate/Term

B

A

B

A

A

A

A

A

Non QM

Non QM

No

597015363

33296745

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: ___                  Disaster End Date: ___ Disaster Name: ___ Disaster Declaration Date: ___

Most resent property inspection report is missing to verify FEMA disaster.

Property inspected post disaster but pre-FEMA declaration of disaster end date.

Property inspected post disaster but pre-FEMA declaration of disaster end date. Date of disaster: [Redacted]

SitusAMC,Originator

Reviewer Comment (2024-12-17): Property inspected post disaster but pre-FEMA declaration of disaster end date. Reviewer Comment (2024-12-17): EXCEPTION HISTORY - Exception Explanation was updated on [Redacted]PRIOR Exception Explanation: Most Recent Valuation Inspection Date: [Redacted]                  Disaster End Date: [Redacted] Disaster Name: [Redacted] Disaster Declaration Date: [Redacted] Buyer Comment (2024-12-11): Please see Re-inspection report attached dated [Redacted] no damage reported

12/17/2024

2

C

B

C

B

C

B

C

B

C

B

FL

Second Home

Purchase

C

B

C

B

A

A

A

A

Non QM

Non QM

No

507867604

33296757

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

The Initial Closing Disclosure reflects an increase of the Credit Report Fee.  The loan file does not contain a Changed Circumstance for the increased fee.

Reviewer Comment (2024-12-23): [Redacted]received PCCD, Letter of Explanation and Payment history for the evidence of Principal Reduction resulting in a cured the exception. Buyer Comment (2024-12-19): Attached evidence of cure already complete.

12/23/2024

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

507867604

33296758

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Reviewer Comment (2024-12-23): Received final title policy, Exception cleared.

12/23/2024

1

A

A

A

A

A

A

A

A

A

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

507867604

33296760

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.

The Borrowers require to have 6 months reserves.  The calculated reserves for the Borrowers is [Redacted].

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous Miscellaneous

Lender Exception with Compensating Factors provided. Lender Exception with Compensating Factors provided. Excellent Credit Management with FICO 720+ Housing Ratio 25% or less.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2025-01-16): Lender Exception with Compensating Factors provided. Buyer Comment (2025-01-13): Please clarify why the post-closing exception provided with comp factors is not acceptable. Reviewer Comment (2025-01-10): Total verified funds= $[Redacted]- (cash to close + EMD + POC)=$[Redacted]= $[Redacted]in reserves[Redacted] months. Buyer Comment (2025-01-07): Post-closing exception attached Reviewer Comment (2024-12-23): Reserve requirement is not met please provide additional funds to meet reserve requirement, Exception remains. Buyer Comment (2024-12-19): Requesting clarification, as loan summary shows $[Redacted]in assets available for closing, $[Redacted]required for closing, PITIA is $[Redacted]so that would leave $[Redacted]reserves which is [Redacted]months.

01/16/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

507867604

33296761

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The Borrowers require to have 6 months reserves.  The calculated reserves for the Borrowers is [Redacted].

Reviewer Comment (2025-01-26): System cleared after Lender Exception with Compensating Factors provided. Buyer Comment (2025-01-17): Waterfall of other findings, please additionally see PC exception in finding [Redacted]. This should be acceptable to clear, thank you! Reviewer Comment (2025-01-10): Total verified funds= $[Redacted]- (cash to close + EMD + POC)=$[Redacted]= $[Redacted]in reserves[Redacted]months. Buyer Comment (2024-12-19): Requesting clarification, as loan summary shows $[Redacted]in assets available for closing, $[Redacted]required for closing, PITIA is $[Redacted]so that would leave $[Redacted]reserves which is [Redacted]months.

01/26/2025

1

B

A

C

A

B

A

C

A

B

A

NY

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

507867604

33296762

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The Borrowers require to have 6 months reserves.  The calculated reserves for the Borrowers is [Redacted].

Reviewer Comment (2025-01-26): System cleared after Lender Exception with Compensating Factors provided. Buyer Comment (2025-01-17): Waterfall of other findings, please additionally see PC exception in finding [Redacted]. This should be acceptable to clear, thank you! Reviewer Comment (2025-01-10): Total verified funds= $[Redacted]- (cash to close + EMD + POC)=$[Redacted]= $[Redacted]in reserves [Redacted]months. Buyer Comment (2024-12-19): Requesting clarification, as loan summary shows $[Redacted]in assets available for closing, $[Redacted]required for closing, PITIA is $[Redacted]so that would leave $[Redacted]reserves which is[Redacted] months.

01/26/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

507867604

33296764

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

The final signed and dated Closing Disclosure reflect Gift Funds received.  The loan file does not contain a Gift Letter or evidence of funds.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous Miscellaneous

Lender Exception with Compensating Factors provided. Lender Exception with Compensating Factors provided. Excellent Credit Management with FICO 720+ Housing Ratio 25% or less.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2025-01-26): Lender Exception with Compensating Factors provided. Buyer Comment (2025-01-17): Waterfall of other findings, please additionally see PC exception in finding [Redacted]. This should be acceptable to clear, thank you! Reviewer Comment (2025-01-10): Exception remains. Need sufficient asset documents to meet [Redacted] months reserve requirements. Currently available reserves are of [Redacted]months without gift funds. Buyer Comment (2025-01-07): Please see finding [Redacted].

01/26/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

507867604

33296765

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The final signed and dated Closing Disclosure reflect Gift Funds received.  The loan file does not contain a Gift Letter or evidence of funds.

Reviewer Comment (2025-01-26): System cleared after Lender Exception with Compensating Factors provided. Buyer Comment (2025-01-17): Waterfall of other findings, please additionally see PC exception in finding [Redacted]. This should be acceptable to clear, thank you! Reviewer Comment (2025-01-10): Total verified funds= $[Redacted]- (cash to close + EMD + POC)=$[Redacted]= $[Redacted]in reserves [Redacted] months. Buyer Comment (2025-01-07): Please see finding [Redacted].

01/26/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

507867604

33296766

Credit

Asset

Asset Documentation

Asset

Gift Funds reflected on the CD, however supporting documentation was not found in file.

-

The final signed and dated Closing Disclosure reflect Gift Funds received.  The loan file does not contain a Gift Letter or evidence of funds.

Reviewer Comment (2025-01-10): Received post closed Closing disclosure which showing no gift fund, Exception cleared. Buyer Comment (2025-01-07): Corrected closing disclosure attached. There was no intended gift, and the borrower paid all the funds to close.

01/10/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

507867604

33296767

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

Reviewer Comment (2024-12-23): Received final title policy, Exception cleared. Buyer Comment (2024-12-19): See the attached final policy info, coverage was updated to $[Redacted].

12/23/2024

1

B

A

B

A

B

A

B

A

B

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

507867604

33296768

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2024-12-23): Sufficient Cure Provided within [Redacted]Days of Closing

12/23/2024

1

A

A

A

A

A

NY

Primary

Purchase

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

510228590

33296778

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

Secondary valuation is missing.

Reviewer Comment (2024-12-23): Exception cleared. Received FNMA-UCDP report and updated correctly. Buyer Comment (2024-12-18): Appraisal review CU uploaded.

12/23/2024

1

D

A

D

A

D

A

D

A

D

A

NY

Primary

Purchase

D

B

B

B

C

B

D

A

Non QM

Non QM

No

510228590

33296779

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

List of  Homeownership Counseling List  disclosure is missing.

Buyer Comment (2025-01-08): Approve Buyer Comment (2024-12-18): Disclosure uploaded.

01/08/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

D

B

B

B

C

B

D

A

Non QM

Non QM

No

510228590

33296783

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Fee increased on [Redacted] Loan Estimate and again on [Redacted] Closing Disclosure with no valid change evident.

Reviewer Comment (2025-01-08): [Redacted] Received Corrected PCCD, LOE and Payment history. Buyer Comment (2025-01-07): PCCD and payment history reflecting PR uploaded.

01/08/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

B

B

B

C

B

D

A

Non QM

Non QM

Yes

510228590

33296784

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Borrower's business has been in existence less than 2 years.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Borrower has verified disposable income of at least $[Redacted].

Low default risk with equity, LTV [Redacted]% lower than matrix. Substantial Cash Reserves. Excellent Credit Management with FICO 720+. Residual income greater than $[Redacted].

Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC SitusAMC,Originator

Buyer Comment (2024-12-18): Approve Reviewer Comment (2024-12-12): Business in Existence for less than [Redacted] Years. (Guidelines require a business be in existence for a minimum of [Redacted]-year, business was formed [Redacted].)

12/18/2024

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

D

B

B

B

C

B

D

A

Non QM

Non QM

No

555187976

33296787

Compliance

Compliance

Federal Compliance

RESPA

RESPA -  Initial Escrow Account statement Inaccurate

RESPA: Initial escrow account statement does not match charges on HUD-1/Final Closing Disclosure.

Reviewer Comment (2025-01-24): Corrected Disclosure provided. Buyer Comment (2025-01-21): IEAD and LOE uploaded.

01/24/2025

1

B

A

B

A

B

A

B

A

B

A

NJ

Primary

Refinance - Cash-out - Other

If the IEAD is correct and the CD/HUD is incorrect, we require a corrected PCCD/HUD with LOE to borrower to cure. Signature is not required. If the CD/HUD is correct and the IEAD is incorrect, we require LOE and corrected IEAD to cure. Signature is not required.

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

555187976

33296788

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Escrow Payment Over Disclosed Test

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redacted] disclosed an escrow payment for payment stream 1 that does not match the actual payment for the loan.

Reviewer Comment (2024-12-05): Sufficient Cure Provided At Closing

12/05/2024

1

A

A

A

A

A

A

A

A

A

A

NJ

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

555187976

33296789

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Amount Financed Test

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[Redacted] is over disclosed by $[Redacted] compared to the calculated Amount Financed of $[Redacted] and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate (fee amounts included in Amount Financed and Finance Charge calculations are based on Closing Disclosure dated [Redacted]).

Finance Charge disclosed is $[Redacted]. Calculated finance charge is $[Redacted]. Variance of [Redacted].

Reviewer Comment (2025-02-03): [Redacted]received Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission. Buyer Comment (2025-01-31): PCCD, LOE, re-executed NORTC and proof of delivery uploaded. Reviewer Comment (2025-01-22): It appears lender did not include the Title-Tax Certificate fee of $[Redacted], which would typically be a finance charge, as a APR fee. If lender feels the Title - Tax Certificate fee is a one time fee rather than a fee for a service that extends after closing please provide an Attestation from the title company or settlement agent giving the specific purpose of this fee in order to determine if fee is a finance charge. If the above is not the case than a cure is required. Buyer Comment (2025-01-21): Please review seller's mavent report showing as a pass.  LAS report is including tax search fee as an APR fee that seller believes to be an error.

02/03/2025

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

555187976

33296790

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Finance Charge

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan.  The disclosed Finance Charge in the amount of $[Redacted] is under disclosed by $[Redacted] compared to the calculated Finance Charge of $[Redacted] which exceeds the $[Redacted] threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated [Redacted]).

Finance Charge disclosed is $[Redacted]. Calculated finance charge is $[Redacted]. Variance of [Redacted].

Reviewer Comment (2025-02-03): [Redacted] received Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission. Buyer Comment (2025-01-31): PCCD, LOE, re-executed NORTC and proof of delivery uploaded. Reviewer Comment (2025-01-22): It appears lender did not include the Title-Tax Certificate fee of $[Redacted], which would typically be a finance charge, as a APR fee. If lender feels the Title - Tax Certificate fee is a one time fee rather than a fee for a service that extends after closing please provide an Attestation from the title company or settlement agent giving the specific purpose of this fee in order to determine if fee is a finance charge. If the above is not the case than a cure is required. Buyer Comment (2025-01-21): Please review seller's mavent report showing as a pass.  LAS report is including tax search fee as an APR fee that seller believes to be an error.

02/03/2025

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission if Applicable

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

555187976

33296791

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Will Have Escrow -  Monthly Escrow Payment Overdisclosed Test

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on [Redacted] disclosed the Monthly Escrow Payment that does not match the actual escrow payment for the loan.

Loan Disclosures: Final Closing Disclosure provided on [Redacted] disclosed the Monthly Escrow Payment that does not match the actual escrow payment for the loan.

Reviewer Comment (2024-12-05): Sufficient Cure Provided At Closing

12/05/2024

1

A

A

A

A

A

A

A

A

A

A

NJ

Primary

Refinance - Cash-out - Other

Provide the following: Letter of Explanation notifying borrower or error and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

555187976

33296792

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Appraisal Fee. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-02-03): [Redacted] received PCCD, LOE, proof of mailing & copy of refund check. Buyer Comment (2025-01-31): PCCD, LOE, re-executed NORTC and proof of delivery uploaded. Reviewer Comment (2024-12-19): [Redacted]Loan is Jumbo loan from initial stage and fee should have been charged from initial loan estimate.  In order to determine if the changed circumstance is valid more information is necessary on reason fee increase/added and when lender became aware of the change.  A valid Changed Circumstance or cure is required.  Cure consists of Corrected CD, LOE to borrower, proof of mailing and copy of refund check. Buyer Comment (2024-12-18): Please see uploaded COC.

02/03/2025

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

555187976

33296793

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The subject property has [Redacted] acres when max acreage is [Redacted].

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Miscellaneous

[Redacted] years on the job. Residual income is > $[Redacted]. Low default risk with substantial equity, LTV 25% lower than matrix.

Originator,SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator

Reviewer Comment (2024-12-11): Lender exception with compensating factors.

12/11/2024

2

B

B

B

B

B

B

B

B

B

B

NJ

Primary

Refinance - Cash-out - Other

C

B

B

B

C

B

A

A

Non QM

Non QM

No

550845662

33296812

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Verification of Identification not provided

Verification of Identification is missing for co-borrower.

Reviewer Comment (2024-12-30): Verification of Identification received and updated. Exception cleared Buyer Comment (2024-12-23): Patriot Act disclosure [Redacted] uploaded.

12/30/2024

1

C

A

C

A

C

A

C

A

C

A

NV

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

550845662

33296813

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

A Third Party Employment Verifications dated within 10 business days for the Borrower and Co-Borrower are missing from the loan file.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Residual income > $[Redacted]. Low default risk with equity, LTV [Redacted]% lower than matrix. Excellent credit management with FICO 720+. Low housing ratio of [Redacted]% or less.

SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2025-02-06): Lender exception with compensating factors. Reviewer Comment (2025-02-05): Regraded to EV2-B based on post-close lender exception with alternate documentation and compensating factors. Buyer Comment (2025-01-29): [Redacted] exception approval uploaded. Reviewer Comment (2025-01-23): Exception Remains - The received business entity is not dated and the CPA letter is dated more than [Redacted]business days. Provide Third Party Employment Verifications dated within [Redacted] business days prior to the note date, documentation secured from sources e.g. CPA, regulatory agency, or applicable licensing bureau. Buyer Comment (2025-01-21): Please note, LOE from seller and borrower's business bank statement BofA transaction history dated [Redacted] is within [Redacted] days of closing showing business is actively operating. Reviewer Comment (2025-01-15): Exception Remains - Require Third Party Employment Verifications dated within [Redacted] business days prior to the note date, documentation secured from sources e.g. CPA, regulatory agency, or applicable licensing bureau. Buyer Comment (2025-01-13): VVOE and third party verification uploaded.

02/06/2025

2

C

B

C

B

C

B

C

B

C

B

NV

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

550845662

33296814

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

A Third Party Employment Verifications dated within 10 business days for the Borrower and Co-Borrower are missing from the loan file.

Reviewer Comment (2025-02-06): Lender exception with compensating factors, system cleared. Reviewer Comment (2025-02-05): Regraded to EV2-B ATR Risk based on post-close lender exception with alternate documentation and compensating factors. Buyer Comment (2025-01-29): [Redacted] exception approval uploaded. Reviewer Comment (2025-01-23): Exception Remains - The received business entity is not dated and the CPA letter is dated more than [Redacted] business days. Provide Third Party Employment Verifications dated within [Redacted] business days prior to the note date, documentation secured from sources e.g. CPA, regulatory agency, or applicable licensing bureau. Buyer Comment (2025-01-21): Please note, LOE from seller and borrower's business bank statement BofA transaction history dated [Redacted]is within[Redacted]days of closing showing business is actively operating. Reviewer Comment (2025-01-15): Exception Remains - Require Third Party Employment Verifications dated within [Redacted] business days prior to the note date, documentation secured from sources e.g. CPA, regulatory agency, or applicable licensing bureau. Buyer Comment (2025-01-13): VVOE and third party verification uploaded.

02/06/2025

1

B

A

C

A

B

A

C

A

B

A

NV

Second Home

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

550845662

33296815

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

A Third Party Employment Verifications dated within 10 business days for the Borrower and Co-Borrower are missing from the loan file.

Reviewer Comment (2025-02-06): Lender exception with compensating factors, system cleared. Reviewer Comment (2025-02-05): Regraded to EV2-B based on post-close lender exception with alternate documentation and compensating factors. Buyer Comment (2025-01-29): [Redacted] exception approval uploaded. Reviewer Comment (2025-01-23): Exception Remains - The received business entity is not dated and the CPA letter is dated more than [Redacted] business days. Provide Third Party Employment Verifications dated within [Redacted]business days prior to the note date, documentation secured from sources e.g. CPA, regulatory agency, or applicable licensing bureau. Buyer Comment (2025-01-21): Please note, LOE from seller and borrower's business bank statement BofA transaction history dated [Redacted] is within[Redacted] days of closing showing business is actively operating. Reviewer Comment (2025-01-15): Exception Remains - Require Third Party Employment Verifications dated within [Redacted] business days prior to the note date, documentation secured from sources e.g. CPA, regulatory agency, or applicable licensing bureau. Buyer Comment (2025-01-13): VVOE and third party verification uploaded.

02/06/2025

1

C

A

C

A

C

A

C

A

C

A

NV

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

550845662

33296816

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

A Third Party Employment Verifications dated within 10 business days for the Borrower and Co-Borrower are missing from the loan file.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Residual income > $[Redacted]. Low default risk with equity, LTV [Redacted]% lower than matrix. Excellent credit management with FICO 720+. Low housing ratio of [Redacted]% or less.

SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2025-02-06): Lender exception with compensating factors. Reviewer Comment (2025-02-05): Regraded to EV2-B based on post-close lender exception with alternate documentation and compensating factors. Buyer Comment (2025-01-29): [Redacted] exception approval uploaded. Reviewer Comment (2025-01-23): Exception Remains - The received business entity is not dated and the CPA letter is dated more than [Redacted] business days. Provide Third Party Employment Verifications dated within [Redacted] business days prior to the note date, documentation secured from sources e.g. CPA, regulatory agency, or applicable licensing bureau. Buyer Comment (2025-01-21): Please note, LOE from seller and borrower's business bank statement BofA transaction history dated [Redacted] is within [Redacted]days of closing showing business is actively operating. Reviewer Comment (2025-01-15): Exception Remains - Require Third Party Employment Verifications dated within[Redacted] business days prior to the note date, documentation secured from sources e.g. CPA, regulatory agency, or applicable licensing bureau. Buyer Comment (2025-01-13): VVOE and third party verification uploaded.

02/06/2025

2

C

B

C

B

C

B

C

B

C

B

NV

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

550845662

33296817

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

A Third Party Employment Verifications dated within 10 business days for the Borrower and Co-Borrower are missing from the loan file.

Reviewer Comment (2025-02-06): Lender exception with compensating factors, system cleared. Reviewer Comment (2025-02-05): Regraded to EV2-B based on post-close lender exception with alternate documentation and compensating factors. Buyer Comment (2025-01-29): [Redacted] exception approval uploaded. Reviewer Comment (2025-01-23): Exception Remains - The received business entity is not dated and the CPA letter is dated more than [Redacted]business days. Provide Third Party Employment Verifications dated within [Redacted]business days prior to the note date, documentation secured from sources e.g. CPA, regulatory agency, or applicable licensing bureau. Buyer Comment (2025-01-21): Please note, LOE from seller and borrower's business bank statement BofA transaction history dated [Redacted] is within [Redacted]days of closing showing business is actively operating. Reviewer Comment (2025-01-15): Exception Remains - Require Third Party Employment Verifications dated within [Redacted]business days prior to the note date, documentation secured from sources e.g. CPA, regulatory agency, or applicable licensing bureau. Buyer Comment (2025-01-13): VVOE and third party verification uploaded.

02/06/2025

1

C

A

C

A

C

A

C

A

C

A

NV

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

571843560

33296818

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: ___                  Disaster End Date: ___ Disaster Name: ___ Disaster Declaration Date: ___

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Property inspected post disaster but pre-FEMA declaration of disaster end date.

Property inspected post disaster but pre-FEMA declaration of disaster end date. Date of disaster: [Redacted].

SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC,Originator

Reviewer Comment (2024-12-20): Property inspected post disaster but pre-FEMA declaration of disaster end date. Date of disaster: [Redacted].

12/20/2024

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Refinance - Cash-out - Home Improvement

C

B

B

B

C

B

A

A

Non QM

Non QM

No

571843560

33296821

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Reinspection Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Reinspection Fee of $[Redacted] was not disclosed on Loan Estimate.  Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-01-10): [Redacted]received Letter of Explanation, copy of principal reduction on cure & Corrected CD. Reviewer Comment (2025-01-10): correct cure dates Reviewer Comment (2025-01-10): [Redacted]received PCCD, LOE and payment history for principal reduction of cure. Buyer Comment (2025-01-08): PCCD and payment history reflecting PR uploaded.

01/10/2025

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Home Improvement

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

571843560

33296822

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted] .  Insufficient or no cure was provided to the borrower.

Transfer Tax Fee disclosed as $[Redacted] on CD dated [Redacted], but disclosed as $[Redacted] on Final Closing Disclosure. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-01-10): [Redacted]received PCCD, LOE and payment history for principal reduction of cure. Buyer Comment (2025-01-08): PCCD and payment history reflecting PR uploaded.

01/10/2025

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Home Improvement

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

531235403

33296835

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The most recent valuation inspection is dated prior to the most recent FEMA disaster.

Most Recent Valuation Inspection Date: ___                  Disaster End Date: ___ Disaster Name: ___ Disaster Declaration Date: ___

Property inspected post disaster but pre-FEMA declaration of disaster end date.

Property inspected post disaster but pre-FEMA declaration of disaster end date. Date of disaster: [Redacted]

SitusAMC,Originator

Reviewer Comment (2024-12-20): Property inspected post disaster but pre-FEMA declaration of disaster end date.

12/20/2024

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

531235403

33296836

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Reviewer Comment (2025-01-14): Documents received, system cleared.

01/14/2025

1

A

A

A

A

A

A

A

A

A

A

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

531235403

33296837

Compliance

Compliance

Miscellaneous Compliance

Compliance

TRID Error: Cash at settlement from or to borrower is blank.

-

Page 3 of Final Closing disclosure is missing in file.

Reviewer Comment (2024-12-30): [Redacted]received full final CD pages Buyer Comment (2024-12-27): Final CD reuploaded. Reviewer Comment (2024-12-27): No new Final CD located in trailing documents. Please reupload for review. Buyer Comment (2024-12-26): Final CD uploaded.

12/30/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

531235403

33296839

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

List of Homeownership Counseling Organizations disclosure is missing.

Reviewer Comment (2025-01-14): Documents received, system cleared. Buyer Comment (2024-12-26): Please see image [Redacted], page [Redacted]reflecting Counseling Org List included with the initial disclosures package.

01/14/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

531235403

33296840

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Incomplete

TILA-RESPA Integrated Disclosure: Incomplete Closing Disclosure was signed by borrower and cannot be excluded from testing. Corresponding exceptions for inaccurate disclosures and under/over disclosures resulting from use of incomplete Closing Disclosure are valid and will need to be cured (if curable).

Incomplete Final Closing disclosure in file. Page 3 of Final Closing disclosure is missing.

Reviewer Comment (2024-12-30): [Redacted]received final CD with all pages Buyer Comment (2024-12-27): Final CD reuploaded. Reviewer Comment (2024-12-27): No new Final CD located in trailing documents.  Please reupload for review. Buyer Comment (2024-12-26): Final CD uploaded.

12/30/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

Provide the following: Letter of Explanation notifying borrower or error, Corrected CD, and Proof of Delivery (Proof of receipt and reopened rescission also required if transaction is rescindable and material disclosures are inaccurate)

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

531235403

33296842

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted]plus [Redacted] % or $[Redacted] .  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2024-12-19): Sufficient Cure Provided At Closing

12/19/2024

1

A

A

A

A

A

A

A

A

A

A

FL

Primary

Purchase

Final CD evidences Cure

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

531235403

33296843

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

Reviewer Comment (2024-12-30): Proof of appraisal delivery provided exception cleared. Buyer Comment (2024-12-26): Appraisal proof of delivery uploaded.

12/30/2024

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

531235403

33296844

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

Title Policy Coverage is less than Original Loan Amount.

Reviewer Comment (2025-01-14): Documents received, system cleared. Buyer Comment (2024-12-26): Final title policy uploaded.

01/14/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

531235403

33296845

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Disaster Inspection Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2024-12-20): Sufficient Cure Provided At Closing

12/20/2024

1

A

A

A

A

A

A

A

A

A

A

FL

Primary

Purchase

Final CD evidences Cure

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

531235403

33296846

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The loan file does not contain a verification of the Borrower's business within 10 business days of the closing as required by guidelines.

Reviewer Comment (2024-12-30): VVOE provided exception cleared. Buyer Comment (2024-12-26): VVOE uploaded.

12/30/2024

1

B

A

C

A

B

A

C

A

B

A

FL

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

531235403

33296847

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The loan file does not contain a verification of the Borrower's business within 10 business days of the closing as required by guidelines.

Reviewer Comment (2024-12-30): VVOE provided exception cleared. Buyer Comment (2024-12-26): VVOE uploaded.

12/30/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

531235403

33296848

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The loan file does not contain a verification of the Borrower's business within 10 business days of the closing as required by guidelines.

Reviewer Comment (2024-12-30): VVOE provided exception cleared. Buyer Comment (2024-12-26): VVOE uploaded.

12/30/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

531235403

33296849

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

The loan file does not contain a verification of the Borrower's business within 10 business days of the closing as required by guidelines.

Reviewer Comment (2024-12-30): VVOE provided exception cleared. Buyer Comment (2024-12-26): VVOE uploaded.

12/30/2024

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

563325380

33296853

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The subject property is identified as a Rural Property, guidelines do not allow Rural Properties.

Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Low default risk with equity, LTV [Redacted]% lower than matrix. Excellent credit management with FICO 720+.

SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2024-12-20): Lender exception with compensating factors.

12/20/2024

2

B

B

B

B

B

B

B

B

B

B

PA

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

563325380

33296854

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Borrower's own funds percent discrepancy.

Calculated borrower's own funds of ___ is less than Guideline required borrower's own funds of ___.

Minimum Borrower contribution is [Redacted]% if housing history is unverifiable.

Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Low default risk with equity, LTV [Redacted]% lower than matrix. Excellent credit management with FICO 720+.

SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2024-12-20): Lender exception with compensating factors.

12/20/2024

2

B

B

B

B

B

B

B

B

B

B

PA

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

546991130

33296871

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Buyer Comment (2024-12-27): Approve

12/27/2024

2

B

B

B

B

B

B

B

B

B

B

HI

Primary

Refinance - Limited Cash-out GSE

B

B

A

A

B

B

A

A

Non QM

Non QM

No

546991130

33296872

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Buyer Comment (2024-12-27): Approve

12/27/2024

2

B

B

B

B

B

B

B

B

B

B

HI

Primary

Refinance - Limited Cash-out GSE

B

B

A

A

B

B

A

A

Non QM

Non QM

No

546991130

33296875

Compliance

Compliance

Federal Compliance

RESPA

RESPA -  Initial Escrow Account statement Inaccurate

RESPA: Initial escrow account statement does not match charges on HUD-1/Final Closing Disclosure.

Reviewer Comment (2025-01-14): Documents received, system cleared. Buyer Comment (2024-12-27): Initial escrow account disclosure uploaded.

01/14/2025

1

B

A

B

A

B

A

B

A

B

A

HI

Primary

Refinance - Limited Cash-out GSE

If the IEAD is correct and the CD/HUD is incorrect, we require a corrected PCCD/HUD with LOE to borrower to cure. Signature is not required. If the CD/HUD is correct and the IEAD is incorrect, we require LOE and corrected IEAD to cure. Signature is not required.

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

546991130

33296876

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

Reviewer Comment (2025-01-14): Documents received, system cleared. Buyer Comment (2024-12-27): Please refer to image [Redacted]reflecting disclosure included with initial disclosure package.

01/14/2025

1

B

A

B

A

B

A

B

A

B

A

HI

Primary

Refinance - Limited Cash-out GSE

B

B

A

A

B

B

A

A

Non QM

Non QM

No

546991130

33296879

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA - Incorrect Right To Cancel Form Used - H-8 Used on Same Lender Refinance (Circuit 2, 5, 7, 8, 9, 10 or DC)

Truth in Lending Act: Notice of Right to Cancel was not executed on the proper Model Form for a refinancing by the same creditor. The H-8 form was used, the H-9 form should have been used.

Buyer Comment (2024-12-27): Approve

12/27/2024

2

B

B

B

B

B

B

B

B

B

B

HI

Primary

Refinance - Limited Cash-out GSE

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

546991130

33296880

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Escrow Payment Under Disclosed Test

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redacted] disclosed an escrow payment for payment stream 1 that does not match the actual payment for the loan.

Reviewer Comment (2025-01-16): Corrected CD cured prior to reporting Buyer Comment (2025-01-15): Please see image [Redacted], CD dated [Redacted] reflecting corrected CD issued at Funding.

01/16/2025

2

B

B

B

B

B

HI

Primary

Refinance - Limited Cash-out GSE

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, and Corrected CD

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

546991130

33296881

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Will Have Escrow -  Monthly Escrow Payment Underdisclosed Test

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on [Redacted] disclosed the Monthly Escrow Payment that does not match the actual escrow payment for the loan.

1

Reviewer Comment (2025-01-16): Corrected CD cured prior to reporting Buyer Comment (2025-01-15): Please see image [Redacted], CD dated [Redacted] reflecting corrected CD issued at Funding.

01/16/2025

2

B

B

B

B

B

HI

Primary

Refinance - Limited Cash-out GSE

Provide the following: Letter of Explanation notifying borrower or error and Corrected CD

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

562508634

33296882

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Housing History is not verifiable. Guideline require verification of past [Redacted] months housing history. Borrower pays rent in cash as per landlord's request. Verification of rent from landlord is available.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Residual income > $[Redacted]. Substantial cash reserves. Borrower's own funds used for down payment & closing (No gifts for dpa). Low housing ratio of [Redacted]% or less.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-12-23): Lender exception with compensating factors.

12/23/2024

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

535311985

33296889

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2025-01-21): Delivery of appraisal provided, system cleared. Buyer Comment (2025-01-07): Attached to finding [Redacted].

01/21/2025

1

B

A

B

A

B

A

B

A

B

A

NJ

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

535311985

33296890

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2025-01-21): Delivery of appraisal provided, system cleared. Buyer Comment (2025-01-07): Attached to finding [Redacted].

01/21/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

535311985

33296891

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2025-01-21): Delivery of appraisal provided, system cleared. Buyer Comment (2025-01-07): Attached.

01/21/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

558305360

33296903

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2024-12-20): Sufficient Cure Provided At Closing

12/20/2024

1

A

A

A

A

A

A

A

A

A

A

MI

Second Home

Purchase

Final CD evidences Cure

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

558305360

33296904

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Allow property with 2 parcels that are not adjoining. (Guidelines allow for 2 parcels but they must be adjoining.)

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Residual income > $[Redacted]. Borrower's own funds used for down payment & closing (No gifts or dpa). Low default risk with equity, LTV [Redacted]% lower than matrix. Excellent credit management with FICO 720+. Low housing ratio of [Redacted]% or less.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-12-23): Lender exception with compensating factors.

12/23/2024

2

B

B

B

B

B

B

B

B

B

B

MI

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

558305360

33296905

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

Appraisal shows property as Rural, Guidelines do not allow for Rural Properties.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Residual income > $[Redacted]. Borrower's own funds used for down payment & closing (No gifts or dpa). Low default risk with equity, LTV [Redacted]% lower than matrix. Excellent credit management with FICO 720+. Low housing ratio of [Redacted]% or less.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2024-12-23): Lender exception with compensating factors.

12/23/2024

2

B

B

B

B

B

B

B

B

B

B

MI

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

558305360

33296906

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

The loan file does not document the Borrower's ownership in the business used for income qualification.

Reviewer Comment (2025-01-20): Documents received, system cleared. Buyer Comment (2025-01-06): Our borrower is a Real Estate Agent the UW used her commission income only, bwr has not running any business. see P/L statements attached.

01/20/2025

1

C

A

C

A

C

A

C

A

C

A

MI

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

558305360

33296907

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The loan file does not document the Borrower's ownership in the business used for income qualification.

Reviewer Comment (2025-01-20): Documents received, system cleared. Buyer Comment (2025-01-06): Our borrower is a Real Estate Agent the UW used her commission income only, bwr has not running any business. see P/L statements attached.

01/20/2025

1

B

A

C

A

B

A

C

A

B

A

MI

Second Home

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

558305360

33296908

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The loan file does not document the Borrower's ownership in the business used for income qualification.

Reviewer Comment (2025-01-20): Documents received, system cleared. Buyer Comment (2025-01-06): Our borrower is a Real Estate Agent the UW used her commission income only, bwr has not running any business. see P/L statements attached.

01/20/2025

1

C

A

C

A

C

A

C

A

C

A

MI

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

558305360

33296909

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Lender Credit Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure:Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $[Redacted]exceeds tolerance of $-[Redacted]. Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Lender Credits. Final Lender Credit of $[Redacted] exceeds tolerance of $-[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-01-07): [Redacted]received valid COC document. Buyer Comment (2025-01-06): The Lender credit was applied to the file because bwr accepted lower LTV @ [Redacted]% please see attached documents.

01/07/2025

1

C

A

C

A

C

A

C

A

C

A

MI

Second Home

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

558305360

33296910

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Credit Report Fee. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted] without a valid COC. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-01-07): Sufficient cure provided at closing. Buyer Comment (2025-01-06): Please see Final CD dated [Redacted]showing a lender credit for the amount of $[Redacted]reflecting on page #[Redacted] of [Redacted] under section J.

01/07/2025

1

C

A

C

A

C

A

C

A

C

A

MI

Second Home

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

558305360

33296911

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The loan file does not document the Borrower's ownership in the business used for income qualification.

Reviewer Comment (2025-01-20): Documents received, system cleared. Buyer Comment (2025-01-14): Our borrower is a Real Estate Agent the UW used her commission income only, bwr has not running any business. see P/L statements attached.

01/20/2025

1

C

A

C

A

C

A

C

A

C

A

MI

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

558305360

33296912

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

The loan file does not document the Borrower's ownership in the business used for income qualification.

Reviewer Comment (2025-01-20): Documents received, system cleared. Buyer Comment (2025-01-06): Our borrower is a Real Estate Agent the UW used her commission income only, bwr has not running any business. see P/L statements attached.

01/20/2025

1

C

A

C

A

C

A

C

A

C

A

MI

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

582492458

33296916

Credit

1003

Document Error

1003

Borrower(s) is not a U.S. Citizen, and the guideline required documentation was not provided.

-

Borrower is a permanent resident alien.  Borrower's permanent resident card expires [Redacted] and there is no evidence of USCIS Form I-751, as required by Guidelines.

Reviewer Comment (2025-01-10): Received[Redacted]form, Exception cleared. Buyer Comment (2025-01-07): Please see [Redacted] form attached. bwr is in the process to renew her Resident Card

01/10/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

583180328

33296931

Compliance

Compliance

Federal Compliance

TRID

ECOA Appraisal Disclosure - ECOA Status

ECOA - File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure.

Right to receive copy of appraisal not provided.

Reviewer Comment (2025-01-08): [Redacted]received LE. Buyer Comment (2025-01-07): Attached to exception [Redacted].

01/08/2025

1

B

A

B

A

B

A

B

A

B

A

PA

Primary

Purchase

Good faith redisclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

583180328

33296932

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Right to receive copy of appraisal not provided.

Reviewer Comment (2025-01-08): [Redacted]received LE. Buyer Comment (2025-01-07): Attached to exception [Redacted].

01/08/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

583180328

33296933

Compliance

Compliance

Federal Compliance

TRID

TIL HPML Appraisal Disclosure - HPML Status

HPML - File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure.

Right to receive copy of appraisal not provided.

Reviewer Comment (2025-01-08): [Redacted]received LE. Buyer Comment (2025-01-07): Attached.

01/08/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

Good faith redisclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

No

583180328

33296934

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

Homeownership Counseling List not provided.

Reviewer Comment (2025-01-21): Disclosure delivery in file, system cleared. Buyer Comment (2025-01-07): See attached, page[Redacted]shows this disclosure was included with initial package.

01/21/2025

1

B

A

B

A

B

A

B

A

B

A

PA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

583180328

33296935

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.

Initial CD Issued less than 6 days prior to closing

Reviewer Comment (2025-01-10): [Redacted]received initial CD. Buyer Comment (2025-01-09): Attached. Reviewer Comment (2025-01-08): Only CD is file is dated [Redacted] and closing was [Redacted].  Please provide  initial CD. Buyer Comment (2025-01-07): See attached tracking, "Actual Received Date" field.

01/10/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

No Defined Cure

C

B

C

B

C

B

A

A

Non QM

Non QM

No

583180328

33296936

Compliance

Compliance

Federal Compliance

TRID Defect

TILA-RESPA Integrated Disclosure: application date on or after 10/3/2015, no Loan Estimates in the Loan File

TILA-RESPA Integrated Disclosure: Loan Estimate not provided within loan images to evidence delivery to the Borrower(s).  The earliest Closing Disclosure provided in the loan file was used as the estimated baseline for Tolerance Testing.  Depending on the actual values on the initial Loan Estimate, a fee tolerance cure of up to $[Redacted] may be required.

Loan estimate not provided.

Reviewer Comment (2025-01-08): [Redacted]received LE. Buyer Comment (2025-01-07): Loan Estimates attached.

01/08/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

No Defined Cure

C

B

C

B

C

B

A

A

Non QM

Non QM

No

583180328

33296938

Credit

Credit

Miscellaneous

Credit

AUS Findings: Reverified Available for Closing discrepancy.

Calculated Reverified Available for Closing of ___ is less than AUS Available for Closing of ___.

Unverifiable housing (Guidelines require 12 months cancelled checks or banks statements when rents are paid to an individual)

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Excellent Credit Management with FICO [Redacted]+

SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2024-12-23): Lender Exception with Compensating Factors.

12/23/2024

2

B

B

B

B

B

B

B

B

B

B

PA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

583180328

33296939

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted].

Reviewer Comment (2025-01-10): Invoice and Closing disclosure document reflecting Appraisal Invoice which is Paid outside closing updated and associated. Exception cleared Buyer Comment (2025-01-07): See attached invoice showing borrower paid appraisal with funds other than the assets used to qualify. POC fees should be added back to borrower reserves, which causes reserves to meet[Redacted]-month requirement.

01/10/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

583180328

33296940

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Waterfall due to reserve requirement not met.

Reviewer Comment (2025-01-10): Invoice and Closing disclosure document reflecting Appraisal Invoice which is Paid outside closing updated and associated. Exception cleared Buyer Comment (2025-01-07): Attached to exception [Redacted].

01/10/2025

1

B

A

C

A

B

A

C

A

B

A

PA

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

583180328

33296941

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Waterfall due to reserve requirement not met.

Reviewer Comment (2025-01-10): Invoice and Closing disclosure document reflecting Appraisal Invoice which is Paid outside closing updated and associated. Exception cleared Buyer Comment (2025-01-07): Attached to exception [Redacted].

01/10/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

583180328

33296942

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Waterfall due to 6 months reserve requrnment not met.

Reviewer Comment (2025-01-10): Invoice and Closing disclosure document reflecting Appraisal Invoice which is Paid outside closing updated and associated. Exception cleared Buyer Comment (2025-01-07): Attached to exception [Redacted].

01/10/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

583180328

33296943

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

Waterfall due to 6 months reserve requirement not met.

Reviewer Comment (2025-01-10): Invoice and Closing disclosure document reflecting Appraisal Invoice which is Paid outside closing updated and associated. Exception cleared Buyer Comment (2025-01-07): Attached to exception [Redacted].

01/10/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

583180328

33296944

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Tax Service Fee (Life Of Loan).  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Fee added without notice of VCC.  Cure is required.

Reviewer Comment (2025-01-22): [Redacted]received Letter of Explanation, Payment History and Corrected PCCD. Buyer Comment (2025-01-21): Completed cure attached.

01/22/2025

2

B

B

B

B

B

PA

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

530745887

33296972

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

E-sign Consent Agreement is not provided

Reviewer Comment (2025-01-29): E-sign Consent Agreement received and updated. Exception cleared Buyer Comment (2025-01-28): eConsent uploaded.

01/29/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

C

A

C

A

A

A

A

A

N/A

N/A

No

525697443

33296999

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Credit Report Fee. The Credit Report Fee increased to $[Redacted] without a valid change of circumstance. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-02-06): [Redacted]received Letter of Explanation, Payment History and Corrected PCCD. Buyer Comment (2025-02-05): PCCD and payment history reflecting PR uploaded.

02/06/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

563342231

33297002

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-01-29): [Redacted]Received Corrected PCCD, LOE and Payment history. Buyer Comment (2025-01-28): PCCD and payment history reflecting PR uploaded.

01/29/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

563342231

33297003

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Guidelines require 2 appraisals to use current appraised value.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Residual income > $[Redacted]. Substantial cash reserves. Excellent credit management with FICO [Redacted]+. Low housing ratio of [Redacted]% or less. Prior homeownership experience (No FC or Short Sale).

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2025-01-09): Lender exception with compensating factors.

01/09/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Refinance - Rate/Term

C

B

B

B

C

B

A

A

Non QM

Non QM

No

563342231

33297005

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

The Closing Disclosure issued on [Redacted] does not reflect a Credit re-issue fee of $[Redacted].  The Closing Disclosure issued on [Redacted] reflects the Credit re-issue fee of $[Redacted].  The Changed Circumstance does not identify the credit fee and the final Closing Disclosure does not reflect the Tolerance Cure.

Reviewer Comment (2025-01-29): [Redacted]Received Corrected PCCD, LOE and Payment history. Buyer Comment (2025-01-28): PCCD and payment history reflecting PR uploaded.

01/29/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

563342231

33297007

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

Guidelines require 2 appraisals to use current appraised value.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Residual income > $[Redacted]. Substantial cash reserves. Excellent credit management with FICO [Redacted]+. Low housing ratio of [Redacted]% or less. Prior homeownership experience (No FC or Short Sale).

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2025-01-09): Lender exception with compensating factors.

01/09/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Refinance - Rate/Term

C

B

B

B

C

B

A

A

Non QM

Non QM

No

536588439

33297012

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

Creditor did not provide List of Homeownership Counseling Organizations to borrower.

Reviewer Comment (2025-01-27): Documents received, system cleared. Buyer Comment (2025-01-22): List uploaded.

01/27/2025

1

B

A

B

A

B

A

B

A

B

A

AZ

Primary

Purchase

C

B

B

B

C

A

A

A

Non QM

Non QM

No

536588439

33297015

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Business has not been in existence for [Redacted] years.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Lender Exception with Compensating Factors provided. Lender Exception with Compensating Factors provided. Housing Ratio [Redacted]% or less.

SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2025-01-10): Lender Exception with Compensating Factors provided.

01/10/2025

2

B

B

B

B

B

B

B

B

B

B

AZ

Primary

Purchase

C

B

B

B

C

A

A

A

Non QM

Non QM

No

536588439

33297016

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Business has not been in existence for [Redacted] years.

Reviewer Comment (2025-01-10): System cleared after Lender Exception with Compensating Factors provided.

01/10/2025

1

B

A

C

A

B

A

C

A

B

A

AZ

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

B

B

C

A

A

A

Non QM

Non QM

Yes

536588439

33297017

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Business has not been in existence for [Redacted] years.

Reviewer Comment (2025-01-10): System cleared after Lender Exception with Compensating Factors provided.

01/10/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Primary

Purchase

C

B

B

B

C

A

A

A

Non QM

Non QM

No

536588439

33297018

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Business has not been in existence for [Redacted] years.

Reviewer Comment (2025-01-10): System cleared after Lender Exception with Compensating Factors provided.

01/10/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Primary

Purchase

C

B

B

B

C

A

A

A

Non QM

Non QM

No

576816968

33297038

Credit

Credit

Credit Eligibility

Guideline

Public Record Issue:

-

Guidelines require payoff, cumulative balance exceeds $[Redacted].

Reviewer Comment (2025-02-03): N/A - Payment included in DTI ratios per attached guidelines. Payment for remaining collections and charge-offs included in DTI results in final DTI ≤ [Redacted]% (payment calculated at [Redacted]% of balance of remaining unpaid collections and charge-offs). Buyer Comment (2025-01-27): Payoff is required for the[Redacted], which is not the program for this loan. This is a Flexible Advantage Program loan (no "Plus"). The requirement here is pasted below; the charge off was included in the DTI: Under all other programs, collection and charge-off account balances remaining after the exclusions listed above may remain open when one of the following is met: Ÿ Borrower has sufficient reserves to cover remaining collection and charge-off balances (in addition to the published reserve requirement); or Ÿ Payment for remaining collections and charge-offs included in DTI results in final DTI ≤ [Redacted]% (payment calculated at [Redacted]% of balance of remaining unpaid collections and charge-offs)

02/03/2025

1

B

A

B

A

B

A

B

A

B

A

PA

Primary

Refinance - Cash-out - Other

B

A

B

A

A

A

A

A

Non QM

Non QM

No

567209671

33297040

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.

Borrower's assets are insufficient to satisfy guideline minimum of 6 months PITI reserves.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years.

Lender Exception with Compensating Factors.

SitusAMC SitusAMC Originator,SitusAMC SitusAMC

Reviewer Comment (2025-03-17): Lender Exception with Compensating Factors provided. Reviewer Comment (2025-01-22): Lender Exception with Compensating Factors.

03/17/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Refinance - Limited Cash-out GSE

C

B

B

B

C

B

A

A

Non QM

Non QM

No

567209671

33297042

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Waterfall due to reserve requirement not met

Reviewer Comment (2025-01-22): Lender Exception with Compensating Factors, system cleared.

01/22/2025

1

B

A

C

A

B

A

C

A

B

A

FL

Primary

Refinance - Limited Cash-out GSE

Lender to provide updated ATR/QM Loan Designation

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

567209671

33297043

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Waterfall due to reserve requirement not met

Reviewer Comment (2025-01-22): Lender Exception with Compensating Factors, system cleared.

01/22/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Limited Cash-out GSE

C

B

B

B

C

B

A

A

Non QM

Non QM

No

567209671

33297044

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Transfer Tax in loan estimate is $[Redacted] and closing disclosure reflects $[Redacted]. No Valid change circumstance in file.

Reviewer Comment (2025-02-06): [Redacted]Received Corrected PCCD, LOE and Payment history. Buyer Comment (2025-02-05): PCCD & PH

02/06/2025

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Limited Cash-out GSE

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

567209671

33297046

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Borrower's assets are insufficient to satisfy guideline minimum of 6 months PITI reserves.

Reviewer Comment (2025-01-22): Lender Exception with Compensating Factors, system cleared.

01/22/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Limited Cash-out GSE

C

B

B

B

C

B

A

A

Non QM

Non QM

No

567209671

33297047

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

Borrower's assets are insufficient to satisfy guideline minimum of 6 months PITI reserves.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Lender Exception with Compensating Factors. Low default risk with equity, LTV [Redacted]% lower than matrix

SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC

Reviewer Comment (2025-03-17): Lender Exception with Compensating Factors provided. Reviewer Comment (2025-01-22): Lender Exception with Compensating Factors.

03/17/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Refinance - Limited Cash-out GSE

C

B

B

B

C

B

A

A

Non QM

Non QM

No

506997277

33297049

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Divorce Decree / Child Support not provided

Divorce decree/ Child support document not provided.

Reviewer Comment (2025-03-12): Documents received, system cleared. Buyer Comment (2025-03-10): The document does NOT state the support will be automatically reinstated. It states, "support shall be automatically reinstated upon written notice to the Friend of the Court that the payee or the Department of Health and Human Services has requested support be reinstated." There is no evidence such a request has been or will be made. Reviewer Comment (2025-03-05): Document in file reflects the support is suspended and will automatically be reinstated. The ages of the dependents on the 1003 reflect support will continue. In addition, final 1003 reflects child support payments. Exception remains. Buyer Comment (2025-03-03): Please see attached, as of the closing date the borrower had no child support obligation. Reviewer Comment (2025-02-03): Please provide Child support document, Exception remains. Buyer Comment (2025-01-30): This should not be required, as guidelines only require "supporting documentation as evidence of the obligation." Guidelines then go on to list several options to meet that requirement, but those options are not exhaustive. The credit report serves as supporting documentation in this case. Reviewer Comment (2025-01-28): Child Support document is not received in file. Exception Remains. Buyer Comment (2025-01-27): This is documented on page [Redacted]/[Redacted], credit report, "[Redacted]..." labeled "Family Support."

03/12/2025

1

C

A

C

A

C

A

C

A

C

A

MI

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

522625371

33297061

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Lender Credit Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure:Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $[Redacted]exceeds tolerance of $-[Redacted]. Insufficient or no cure was provided to the borrower.

Final Lender Credit Fee increased from $[Redacted] to $-[Redacted] without a valid change of circumstance.

Reviewer Comment (2025-02-06): [Redacted] Received Corrected PCCD, LOE and Payment history. Buyer Comment (2025-02-05): PCCD and payment history reflecting PR uploaded.

02/06/2025

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

503191186

33297066

Compliance

Compliance

Federal Compliance

RESPA

RESPA -  Initial Escrow Account statement Inaccurate

RESPA: Initial escrow account statement does not match charges on HUD-1/Final Closing Disclosure.

Reviewer Comment (2025-02-03): Documents received, system cleared. Buyer Comment (2025-01-28): PC LOE, updated initial escrow account disclosure and proof of delivery uploaded.

02/03/2025

1

B

A

B

A

B

A

B

A

B

A

NC

Primary

Refinance - Cash-out - Other

If the IEAD is correct and the CD/HUD is incorrect, we require a corrected PCCD/HUD with LOE to borrower to cure. Signature is not required. If the CD/HUD is correct and the IEAD is incorrect, we require LOE and corrected IEAD to cure. Signature is not required.

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

503191186

33297067

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2025-01-16): Sufficient Cure Provided within [Redacted] Days of Closing

01/16/2025

1

A

A

A

A

A

A

A

A

A

A

NC

Primary

Refinance - Cash-out - Other

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

503191186

33297068

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure - 1026.19(f)(2) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Commitment Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2025-01-16): Sufficient Cure Provided within [Redacted] Days of Closing

01/16/2025

1

A

A

A

A

A

A

A

A

A

A

NC

Primary

Refinance - Cash-out - Other

Provide the following: Letter of Explanation notifying borrower or error, Copy of Refund Check/Evidence of Principal Reduction, Corrected CD, and Proof of Delivery (if refund is over $35)

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

503191186

33297070

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General ATR Provision Investor and Non QM DTIs match and both significantly exceed Guidelines

Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of [Redacted]% significantly exceeds the guideline maximum of [Redacted] %. (DTI Exception requires compelling compensating factors to consider regrading to EV2-B.)

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Miscellaneous Miscellaneous

5+ years on job. Lender Exception with Compensating Factors. Prior homeownership experience (No FC or Short Sale). Total monthly payment savings of $[Redacted] or more per month.

Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2025-02-04): Lender Exception with Compensating Factors. Reviewer Comment (2025-02-04): Regraded to EV2-B based on senior approval of DTI variance based on comp factors. Buyer Comment (2025-01-28): UPE approved PTC by [Redacted] with CFs uploaded. Reviewer Comment (2025-01-22): Provide additional compelling compensating factors for consideration of downgrading/waiving exception as DTI significantly exceeds guideline maximum.

02/04/2025

2

C

B

C

B

C

B

C

B

C

B

NC

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

503191186

33297071

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Commitment Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Zero Percent Fee Tolerance exceeded for Title - Commitment Fee. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].

Reviewer Comment (2025-01-16): Sufficient Cure Provided At Closing

01/16/2025

1

A

A

A

A

A

A

A

A

A

A

NC

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

503191186

33297072

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Calculated investor qualifying total debt ratio of ___ exceeds Guideline total debt ratio of ___.

DTI of [Redacted]% exceeds guidelines of [Redacted]%.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Miscellaneous Miscellaneous

5+ years on job. Lender Exception with Compensating Factors. Prior homeownership experience (No FC or Short Sale). Total monthly payment savings of $[Redacted] or more per month.

Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator Originator

Reviewer Comment (2025-02-04): Lender Exception with Compensating Factors. Buyer Comment (2025-01-28): UPE approved PTC by [Redacted] with CFs uploaded. Reviewer Comment (2025-01-22): Provide additional compelling compensating factors for consideration of downgrading/waiving exception as DTI significantly exceeds guideline maximum.

02/04/2025

2

C

B

C

B

C

B

C

B

C

B

NC

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

503191186

33297073

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

DTI of [Redacted]% exceeds guidelines of [Redacted]%.

Reviewer Comment (2025-02-04): Loan is Non-QM. Buyer Comment (2025-01-28): UPE approved PTC by [Redacted] with CFs uploaded. Reviewer Comment (2025-01-22): Provide additional compelling compensating factors for consideration of downgrading/waiving exception as DTI significantly exceeds guideline maximum.

02/04/2025

1

B

A

C

A

B

A

C

A

B

A

NC

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

503191186

33297074

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

DTI of [Redacted]% exceeds guidelines of [Redacted]%.

Reviewer Comment (2025-02-04): Loan is Non-QM. Buyer Comment (2025-01-28): UPE approved PTC by [Redacted] with CFs uploaded. Reviewer Comment (2025-01-22): Provide additional compelling compensating factors for consideration of downgrading/waiving exception as DTI significantly exceeds guideline maximum.

02/04/2025

1

C

A

C

A

C

A

C

A

C

A

NC

Primary

Refinance - Cash-out - Other

C

B

C

B

C

B

A

A

Non QM

Non QM

No

504288445

33297075

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Bankruptcy Documents not provided

The Bankruptcy Discharge paperwork is missing from the loan file.

Reviewer Comment (2025-02-13): Verification of discharge in file. Buyer Comment (2025-02-03): BK documentation is not required, please escalate to [Redacted]/[Redacted]. Reviewer Comment (2025-01-31): Bankruptcy document is not received in file. Exception Remains. Buyer Comment (2025-01-30): Please note, guidelines do not require documentation.  Credit report reflects Bk discharged at least [Redacted]months from closing date.

02/13/2025

1

C

A

C

A

C

A

C

A

C

A

SC

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

504288445

33297077

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted] % or Final Disclosure APR of [Redacted] % is equal to or greater than the threshold of APOR [Redacted] % + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

This is cause by two Appraisal reports being ordered and used for the Purchase Transaction.

Reviewer Comment (2025-02-24): Multiple Appraisal Fees exception cured. Loan is HPML Compliant. Buyer Comment (2025-02-20): Proof cure check was cashed. Reviewer Comment (2025-02-13): FexEx tracking does not show delivery. Please provide confirmation of delivery. Buyer Comment (2025-02-05): PCCD, LOE, cure check and proof of delivery uploaded.

02/24/2025

1

C

A

C

A

C

A

C

A

C

A

SC

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

504288445

33297078

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Flipped Property - Borrower Charged for 2 Appraisals)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Flipped Property - Creditor improperly charged consumer for two (2) appraisals.

This is cause by two Appraisal reports being ordered and used for the Purchase Transaction.

Reviewer Comment (2025-02-24): Cure documentation received. Buyer Comment (2025-02-20): Proof cure check was cashed. Reviewer Comment (2025-02-13): [Redacted]tracking does not show delivery. Please provide confirmation of delivery. Email when complete. Buyer Comment (2025-02-05): PCCD, LOE, cure check and proof of delivery uploaded.

02/24/2025

2

C

B

C

B

C

B

C

B

C

B

SC

Primary

Purchase

Provide evidence of the refund of the amount charged to the consumer for the second appraisal performed on the subject property.  (Include a copy of the Refund Check, Proof of Delivery, and Cover Letter)

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

588245053

33297083

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

The loan file does contain a credit supplement report on the REO mortgage payment.  However, it does not reflect that escrows are included within the payment.

Reviewer Comment (2025-02-06): Exception cleared - Mortgage statement received and updated clarity. Buyer Comment (2025-02-05): That is not required, as the payment is included in the DTI. Because this is a FNMA loan, escrows are included within the payment. Reviewer Comment (2025-02-03): Please provide document that payment of this property expenses are paid by borrower's ex-wife, Exception remains. Buyer Comment (2025-01-30): The credit supplement shows the loan is a Fannie Mae loan, which typically do require escrows included within the payment. Additionally, the LOE provided by the borrower indicates his ex-wife, from whom he is not legally divorced, occupies this other property and makes the payments. Nevertheless, it is included in the DTI.

02/06/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

588245053

33297085

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Endorsement Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-01-15): Sufficient Cure Provided At Closing

01/15/2025

1

A

A

A

A

A

A

A

A

A

A

PA

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

C

A

C

A

A

A

A

A

Non QM

Non QM

Yes

588245053

33297086

Credit

Credit

Credit Eligibility

Credit

There are red flags on the fraud report that have not been addressed

-

The red-flagged issues listed on the fraud report were not cleared.

Reviewer Comment (2025-02-10): Fraud Report provided. Buyer Comment (2025-01-30): Attached.

02/10/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

563618595

33297090

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

The borrower or tax preparer did not provide a signed letter of explanation describing the nature of the business, how income is generated, and how long the business has been in existence.

Reviewer Comment (2025-02-14): Signed letter of explanation from borrower describing the nature of the business, how income is generated, and how long the business has been in existence received and updated .Exception cleared Buyer Comment (2025-02-13): Attached.

02/14/2025

1

C

A

C

A

C

A

C

A

C

A

VA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

563618595

33297091

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The borrower or tax preparer did not provide a signed letter of explanation describing the nature of the business, how income is generated, and how long the business has been in existence.

Reviewer Comment (2025-02-14): Signed letter of explanation from borrower describing the nature of the business, how income is generated, and how long the business has been in existence received and updated .Exception cleared Buyer Comment (2025-02-13): Attached to finding [Redacted].

02/14/2025

1

B

A

C

A

B

A

C

A

B

A

VA

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

563618595

33297092

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

The borrower or tax preparer did not provide a signed letter of explanation describing the nature of the business, how income is generated, and how long the business has been in existence.

Reviewer Comment (2025-02-14): Signed letter of explanation from borrower describing the nature of the business, how income is generated, and how long the business has been in existence received and updated .Exception cleared Buyer Comment (2025-02-13): Attached to finding [Redacted].

02/14/2025

1

C

A

C

A

C

A

C

A

C

A

VA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

563618595

33297093

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The borrower or tax preparer did not provide a signed letter of explanation describing the nature of the business, how income is generated, and how long the business has been in existence.

Reviewer Comment (2025-02-14): Signed letter of explanation from borrower describing the nature of the business, how income is generated, and how long the business has been in existence received and updated .Exception cleared Buyer Comment (2025-02-13): Attached to finding [Redacted].

02/14/2025

1

C

A

C

A

C

A

C

A

C

A

VA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

510496743

33297103

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Credit report fee increased by $[Redacted] which exceeds tolerance.  Valid changed circumstance is missing

Reviewer Comment (2025-02-23): [Redacted]received Letter of Explanation, Payment history and Corrected CD. Buyer Comment (2025-02-20): Completed cure attached. Reviewer Comment (2025-02-07): [Redacted]received CD and also the COC present in the file doesn't specify the reason as to why the credit report fee were increased. Kindly provide supporting document for the fee increased or provide cure docs. Cure documents consist of Post CD,LOX,Copy of refund check and proof of mailing. Buyer Comment (2025-02-05): [Redacted] received the credit invoice on [Redacted] and updated the fee on the disclosure on[Redacted].

02/23/2025

2

C

B

C

B

C

B

C

B

C

B

TX

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

510496743

33297105

Credit

Credit

Credit Eligibility

Credit

There are red flags on the fraud report that have not been addressed

-

There are red flags on the Fraud Report that have not been addressed.

Reviewer Comment (2025-02-18): Cleared fraud report provided, exception cleared. Buyer Comment (2025-02-12): Final complete copy attached.

02/18/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

584787676

33297124

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

No evidence of receipt of Appraisal was found in file.

Buyer Comment (2025-03-05): accept grade [Redacted] Reviewer Comment (2025-03-04): Appraisal sent to borrower[Redacted] with no evidence of receipt. Borrower did not received the appraisal [Redacted] days prior to closing. Buyer Comment (2025-02-25): Proof of delivery uploaded

03/05/2025

2

B

B

B

B

B

B

B

B

B

B

MO

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

584787676

33297125

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2025-03-14): Documents received, system cleared. Buyer Comment (2025-03-12): emailed updated appraisal report Buyer Comment (2025-03-12): [Redacted] appraisal with no material or value changes Buyer Comment (2025-03-12): [Redacted] appraisal emailed to borrower Buyer Comment (2025-03-12): [Redacted] appraisal report Buyer Comment (2025-03-12): please downgrade exception level to [Redacted]based on appraisal delivery after closing Reviewer Comment (2025-03-10): Appraisal provided [Redacted]; however this puts receipt at [Redacted] (as no evidence in file that Borrower received the report[Redacted] day mailbox rule applies), which is not[Redacted] days prior to closing. Loan file does not provide evidence that the report was received by Borrower exception remains. Buyer Comment (2025-03-05): emailed copy of appraisal report with no material changes, please update exception grade to[Redacted] Reviewer Comment (2025-03-04): Appraisal sent to borrower [Redacted] with no evidence of receipt. Borrower did not received the appraisal [Redacted] days prior to closing. Buyer Comment (2025-02-25): Proof of delivery uploaded

03/14/2025

1

C

A

C

A

C

A

C

A

C

A

MO

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

584787676

33297126

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

No evidence of receipt of Appraisal was found in file.

Reviewer Comment (2025-03-14): Documents received, system cleared. Buyer Comment (2025-03-12): Uploaded: original appraisal dated  [Redacted]with emailed copy of report, updated appraisal report with no material or value changes and emailed copy of report to borrower. Please downgrade report to a level 2 Buyer Comment (2025-03-12): Uploaded: original appraisal dated  [Redacted] with emailed copy of report, updated appraisal report with no material or value changes and emailed copy of report to borrower. Please downgrade report to a level 2 Buyer Comment (2025-03-12): Uploaded: original appraisal dated [Redacted] with emailed copy of report, updated appraisal report with no material or value changes and emailed copy of report to borrower. Please downgrade report to a level 2 Buyer Comment (2025-03-12): please downgrade exception to level [Redacted] based on appraisal delivery after closing Reviewer Comment (2025-03-10): Appraisal provided [Redacted]; however this puts receipt at[Redacted] (as no evidence in file that Borrower received the report [Redacted]day mailbox rule applies), which is not[Redacted] days prior to closing. Loan file does not provide evidence that the report was received by Borrower exception remains. Buyer Comment (2025-03-05): emailed copy of appraisal report with no material changes, please update exception grade to [Redacted] Reviewer Comment (2025-03-04): Appraisal sent to borrower [Redacted] with no evidence of receipt. Borrower did not received the appraisal [Redacted] days prior to closing. Buyer Comment (2025-02-25): Proof of delivery uploaded

03/14/2025

1

C

A

C

A

C

A

C

A

C

A

MO

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

584787676

33297128

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Property is in rural neighborhood, guidelines do not allow rural properties.

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Excellent Credit Management with FICO [Redacted]+ Prior homeownership Experience (No FC or SS) Low housing ratio of [Redacted]% or less

SitusAMC Originator,SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator Originator

Reviewer Comment (2025-01-29): Lender Exception with Compensating Factors.

01/29/2025

2

B

B

B

B

B

B

B

B

B

B

MO

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

584787676

33297130

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Buyer Comment (2025-03-15): accept grade [Redacted]

03/15/2025

2

B

B

B

B

B

MO

Primary

Purchase

C

B

B

B

C

B

A

A

Non QM

Non QM

No

528109639

33297132

Compliance

Compliance

Federal Compliance

TRID

ECOA Appraisal Disclosure - ECOA Status

ECOA - File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure.

File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure.

Reviewer Comment (2025-02-05): Initial LE provided Buyer Comment (2025-02-04): Disclosure tracking summary uploaded.

02/05/2025

1

B

A

B

A

B

A

B

A

B

A

NY

Primary

Purchase

Good faith redisclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

528109639

33297133

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Buyer Comment (2025-02-18): Approve Reviewer Comment (2025-02-17): Evidence of delivery not found in file. Exception remains. Buyer Comment (2025-02-04): Disclosure tracking summary reflecting disclosure delivered with initial disclosure package.

02/18/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297135

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

Creditor did not provide List of Homeownership Counseling Organizations to borrower.

Reviewer Comment (2025-02-17): Disclosure tracking provided, system cleared. Buyer Comment (2025-02-04): Disclosure tracking summary reflecting disclosure delivered with initial disclosure package.

02/17/2025

1

B

A

B

A

B

A

B

A

B

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297136

Compliance

Compliance

Federal Compliance

TRID Defect

TILA-RESPA Integrated Disclosure: application date on or after 10/3/2015, no Loan Estimates in the Loan File

TILA-RESPA Integrated Disclosure: Loan Estimate not provided within loan images to evidence delivery to the Borrower(s).  The earliest Closing Disclosure provided in the loan file was used as the estimated baseline for Tolerance Testing.  Depending on the actual values on the initial Loan Estimate, a fee tolerance cure of up to $[Redacted] may be required.

Loan Estimate is missing in file.

Reviewer Comment (2025-02-05): Initial LE provided Buyer Comment (2025-02-04): Initial LE uploaded.

02/05/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

No Defined Cure

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297138

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.

Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.

Reviewer Comment (2025-02-05): [Redacted]received initial CD dated  [Redacted] Buyer Comment (2025-02-04): Initial CD and disclosure tracking details uploaded.

02/05/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

No Defined Cure

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297139

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

Provide the additional bank statement for the account ending [Redacted].

Reviewer Comment (2025-02-06): Exception cleared - Received additional assets for the account ending  [Redacted]and updated in [Redacted]. Buyer Comment (2025-02-05): Additional bank statement uploaded.

02/06/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297140

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Missing additional bank statement for the account ending [Redacted].

Reviewer Comment (2025-02-06): Exception cleared - Received additional assets for the account ending  [Redacted]and updated in [Redacted]. Buyer Comment (2025-02-05): Additional bank statement uploaded.

02/06/2025

1

B

A

C

A

B

A

C

A

B

A

NY

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

528109639

33297141

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Missing additional bank statement for the account ending [Redacted].

Reviewer Comment (2025-02-06): Exception cleared - Received additional assets for the account ending  [Redacted]and updated in [Redacted]. Buyer Comment (2025-02-05): Additional bank statement uploaded.

02/06/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297142

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Missing additional bank statement for the account ending [Redacted].

Reviewer Comment (2025-02-06): Exception cleared - Received additional assets for the account ending  [Redacted]and updated in [Redacted]. Buyer Comment (2025-02-05): Additional bank statement uploaded.

02/06/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297143

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General ATR Provision Investor and Non QM DTIs match and both moderately exceed Guidelines

Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of [Redacted] % moderately exceeds the guideline maximum of [Redacted]%. (DTI Exception is eligible to be regraded with compensating factors.)

Lender approved exception allowing ratios that exceed guideline (Max ratios allowed [Redacted]%, actual ratios [Redacted]%)

Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS

SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2025-01-30): Lender Exception with Compensating Factors.

01/30/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297144

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Calculated investor qualifying total debt ratio of ___ exceeds Guideline total debt ratio of ___.

Lender approved exception allowing ratios that exceed guideline (Max ratios allowed [Redacted]%, actual ratios [Redacted]%)

Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Miscellaneous

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Prior homeownership Experience (No FC or SS

SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator

Reviewer Comment (2025-01-30): Lender Exception with Compensating Factors.

01/30/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297145

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

-

Missing additional bank statement for the account ending [Redacted].

Reviewer Comment (2025-02-06): Exception cleared - Received additional assets for the account ending  [Redacted]and updated in [Redacted]. Buyer Comment (2025-02-05): Additional bank statement uploaded.

02/06/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297146

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Missing verification of employment 10 business days prior to Note date.

Reviewer Comment (2025-02-05): Business entity document provided within  [Redacted]business days prior to closing exception cleared. Buyer Comment (2025-02-04): Third party verification and proof it was pulled within  [Redacted]business days of closing uploaded. Buyer Comment (2025-02-04): Third party verification and proof it was pulled within  [Redacted] business days of closing uploaded.

02/05/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297147

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Missing verification of employment 10 business days prior to Note date.

Reviewer Comment (2025-02-05): Business entity document provided within  [Redacted]business days prior to closing exception cleared. Buyer Comment (2025-02-04): Third party verification and proof it was pulled within  [Redacted]business days of closing uploaded.

02/05/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

528109639

33297148

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Settlement / Closing / Escrow Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

A valid Changed Circumstance for title - settlement fee increase or cure is required.  Cure documents consist of PCCD, LOE, proof of mailing & copy of refund check.

Reviewer Comment (2025-02-05): Initial LE provided

02/05/2025

1

A

A

A

A

A

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

582244537

33297191

Compliance

Compliance

Federal Compliance

RESPA

RESPA -  Initial Escrow Account statement Inaccurate

RESPA: Initial escrow account statement does not match charges on HUD-1/Final Closing Disclosure.

Initial escrow account statement Initial Deposit of $[Redacted] does not match charges on HUD-1/Final Closing Disclosure of $[Redacted].

Reviewer Comment (2025-02-18): Documents received, system cleared. Buyer Comment (2025-02-06): Cover letter, updated initial escrow acct disclosure and CD uploaded

02/18/2025

1

B

A

B

A

B

A

B

A

B

A

MO

Primary

Purchase

If the IEAD is correct and the CD/HUD is incorrect, we require a corrected PCCD/HUD with LOE to borrower to cure. Signature is not required. If the CD/HUD is correct and the IEAD is incorrect, we require LOE and corrected IEAD to cure. Signature is not required.

C

B

B

B

C

A

A

A

Non QM

Non QM

Yes

582244537

33297193

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Business in existence < 2 years (Guideline: Require 2 years). Borrower has been self employed (Same Job) for about X years, however she just formed an LLC in [Redacted].

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Miscellaneous The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Substantial cash reserves. Borrower's own funds used for down payment & closing (No gifts or DPA) Low default risk with equity, LTV [Redacted]% lower than matrix. Excellent credit management with FICO 720+

SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC Originator SitusAMC

Reviewer Comment (2025-01-30): Lender exception with compensating factors.

01/30/2025

2

B

B

B

B

B

B

B

B

B

B

MO

Primary

Purchase

C

B

B

B

C

A

A

A

Non QM

Non QM

No

582244537

33297194

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Business in existence < 2 years (Guideline: Require 2 years). Borrower has been self employed (Same Job) for about X years, however she just formed an LLC in [Redacted].

Reviewer Comment (2025-01-30): Lender exception with compensating factors, system cleared.

01/30/2025

1

B

A

C

A

B

A

C

A

B

A

MO

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

B

B

C

A

A

A

Non QM

Non QM

Yes

582244537

33297195

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Business in existence < 2 years (Guideline: Require 2 years). Borrower has been self employed (Same Job) for about X years, however she just formed an LLC in [Redacted].

Reviewer Comment (2025-01-30): Lender exception with compensating factors, system cleared.

01/30/2025

1

C

A

C

A

C

A

C

A

C

A

MO

Primary

Purchase

C

B

B

B

C

A

A

A

Non QM

Non QM

No

582244537

33297196

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Business in existence < 2 years (Guideline: Require 2 years). Borrower has been self employed (Same Job) for about X years, however she just formed an LLC in [Redacted].

Reviewer Comment (2025-01-30): Lender exception with compensating factors, system cleared.

01/30/2025

1

C

A

C

A

C

A

C

A

C

A

MO

Primary

Purchase

C

B

B

B

C

A

A

A

Non QM

Non QM

No

543323734

33297219

Compliance

Compliance

State Compliance

Compliance

90 Day RNY has been discontinued effective June 1, 2024.  Most recent available index value used for bona fide discount point testing.

Buyer Comment (2025-02-03): Approve

02/03/2025

2

B

B

B

B

B

B

B

B

B

B

AR

Primary

Refinance - Cash-out - Other

B

B

A

A

B

B

A

A

Non QM

Non QM

No

535721269

33297221

Compliance

Compliance

Federal Compliance

Missing Non-Required Data

(Missing Data) Last Rate Set Date

Last Date Rate Set and Initial Rate Lock Date not provided.  Worst Case Scenario between Creditor Application Date and Transaction Date used to determine rate used for testing.

Rate Set Date Not Provided

Reviewer Comment (2025-02-21): Rate lock provided, system cleared. Buyer Comment (2025-02-14): Attached; initial lock date was [Redacted].

02/21/2025

1

B

A

B

A

B

A

B

A

B

A

GA

Primary

Refinance - Rate/Term

C

B

B

B

C

A

A

A

Non QM

Non QM

No

535721269

33297223

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted]exceeds tolerance of $[Redacted]plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-02-17): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception. Buyer Comment (2025-02-14): The seller applied at $ [Redacted]cure at closing, see page  [Redacted]section J of the consummation CD.

02/17/2025

1

C

A

C

A

C

A

C

A

C

A

GA

Primary

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

A

A

A

Non QM

Non QM

Yes

535721269

33297224

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Disaster Inspection Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Disaster Inspection Fee. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-02-17): [Redacted]received rebuttal comment and as per the COC dated  [Redacted]. Buyer Comment (2025-02-14): The LE disclosing the disaster inspection was provided  [Redacted], within  [Redacted] days of the declaration of the Hurricane Helene disaster on [Redacted]

02/17/2025

1

C

A

C

A

C

A

C

A

C

A

GA

Primary

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

A

A

A

Non QM

Non QM

Yes

535721269

33297226

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.

Calculated PITIA months reserves of  [Redacted] is less than Guideline PITIA months reserves of [Redacted].

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Miscellaneous

Residual income > $[Redacted]. Prior homeownership experience (No FC or Short Sale).

SitusAMC Originator,SitusAMC SitusAMC Originator

Reviewer Comment (2025-01-29): Lender exception with compensating factors.

01/29/2025

2

B

B

B

B

B

B

B

B

B

B

GA

Primary

Refinance - Rate/Term

C

B

B

B

C

A

A

A

Non QM

Non QM

No

535721269

33297227

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Due to reserve discrepancy in file

Reviewer Comment (2025-01-29): Lender exception with compensating factors, system cleared.

01/29/2025

1

B

A

C

A

B

A

C

A

B

A

GA

Primary

Refinance - Rate/Term

Lender to provide updated ATR/QM Loan Designation

C

B

B

B

C

A

A

A

Non QM

Non QM

Yes

535721269

33297228

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Due to reserve discrepancy in file

Reviewer Comment (2025-01-29): Lender exception with compensating factors, system cleared.

01/29/2025

1

C

A

C

A

C

A

C

A

C

A

GA

Primary

Refinance - Rate/Term

C

B

B

B

C

A

A

A

Non QM

Non QM

No

535721269

33297229

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted]exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-02-17): Sufficient Cure Provided At Closing

02/17/2025

1

A

A

A

A

A

GA

Primary

Refinance - Rate/Term

Final CD evidences Cure

C

B

B

B

C

A

A

A

Non QM

Non QM

Yes

599803314

33297244

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation (Appraisal Report Date [Redacted]) to applicant three (3) business days prior to consummation.

Buyer Comment (2025-02-07): accept grade 2 condition

02/07/2025

2

B

B

B

B

B

B

B

B

B

B

MD

Investment

Purchase

B

B

A

A

B

B

A

A

Non QM

N/A

No

560372662

33297247

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The subject property is located in a FEMA disaster that does not have a declared end date.

The subject property is located in a FEMA disaster that does not have a declared end date.

Reviewer Comment (2025-02-18): PDI provided prior to end date damage free, exception cleared. Buyer Comment (2025-02-11): Disaster reinspection report uploaded.

02/18/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

560372662

33297249

Credit

Document Inventory

General

Missing Document

Evidence of Taxpayer Consent is Missing, and Taxpayer documentation is present.

Reviewer Comment (2025-02-06): Received Evidence of Taxpayer Consent, Exception cleared. Buyer Comment (2025-02-05): Disclosures uploaded.

02/06/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

560372662

33297250

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Lender Credit Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure:Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $-[Redacted]exceeds tolerance of $-[Redacted]. Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $-[Redacted] exceeds tolerance of $-[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-03-04): [Redacted] Received Corrected PCCD, LOE and Payment History. Buyer Comment (2025-03-04): PCCD, LOE and payment history reflecting PR uploaded. Reviewer Comment (2025-02-25): [Redacted] received valid COC for  [Redacted], however on PCCD dated  [Redacted] lender credit of $ [Redacted]was removed and lender credit decreased to $ [Redacted]. Cure would be required as credit decreased on PCCD. Please provide cure documents for $ [Redacted] which consist of PCCD, LOE, proof of mailing & copy of refund check. Buyer Comment (2025-02-21): Updated COC uploaded reflecting VCOC. Reviewer Comment (2025-02-12): [Redacted]received rebuttal comment. However, we also required documentation of timeline for review and to provide information supporting lender's knowledge of when they became aware of the issues. Provide additional information to support a pricing change for the Lender credit decreased or cure would be due. Buyer Comment (2025-02-11): UPE was approved for unverifiable housing and not meeting [Redacted]year history of W2 employment/income and is a VCOC reason. Reviewer Comment (2025-02-07): [Redacted]received Changed Circumstance dated  [Redacted], but it does not give sufficient information on why the fee was increased as COC only states UPE approved.  In order to determine if the changed circumstance is valid more information is necessary on reason fee increased and when lender became aware of the change.  A valid Changed Circumstance or cure is required.  Cure documents consist of PCCD, LOE, proof of mailing & copy of refund check. Buyer Comment (2025-02-05): VCOC uploaded.

03/04/2025

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

560372662

33297252

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS/Guideline Findings: All conditions were not met

File is missing bank statements or cancelled checks to verify rental payments to an individual.

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. - Excellent Credit Management with FICO 720+

Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-01-31): Lender Exception with Compensating Factors.

01/31/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

560372662

33297253

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Borrower does not have a [Redacted] year history of W-2 employment income. Previously, borrower was self-employed and has less than [Redacted] months W-2 employment income.

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. Lender Exception with Compensating Factors. - Excellent Credit Management with FICO 720+

Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-01-31): Lender Exception with Compensating Factors.

01/31/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

567817589

33297271

Compliance

Compliance

Federal Compliance

RESPA

RESPA -  Initial Escrow Account Statement Missing

RESPA: Initial escrow account statement was not provided to the borrower.

Initial escrow account statement was not provided to the borrower.

Reviewer Comment (2025-02-13): Documentation provided. Cleared. Buyer Comment (2025-02-03): Initial escrow acct disclosure uploaded.

02/13/2025

1

B

A

B

A

B

A

B

A

B

A

WA

Primary

Refinance - Cash-out - Other

B

B

A

A

B

B

A

A

Non QM

Non QM

No

567817589

33297272

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA - Incorrect Right To Cancel Form Used - H-8 Used on Same Lender Refinance (Circuit 2, 5, 7, 8, 9, 10 or DC)

Truth in Lending Act: Notice of Right to Cancel was not executed on the proper Model Form for a refinancing by the same creditor. The H-8 form was used, the H-9 form should have been used.

Notice of Right to Cancel was not executed on the proper Model Form for a refinancing by the same creditor. The H-8 form was used, the H-9 form should have been used.

Buyer Comment (2025-02-03): Approve

02/03/2025

2

B

B

B

B

B

B

B

B

B

B

WA

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

B

B

A

A

B

B

A

A

Non QM

Non QM

Yes

506578597

33297275

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Maximum Loan Amount discrepancy.

Note loan amount of ___ is greater than Guideline maximum loan amount of ___.

Loan amount of $[Redacted] exceeds guidelines allowable maximum loan amount of $[Redacted]

Borrower has verified disposable income of at least $[Redacted]. Miscellaneous Miscellaneous

Residual income greater than $[Redacted]. Excellent credit management with FICO 720+. Prior homeownership experience (No FC or Short Sale)

Originator,SitusAMC Originator Originator

Reviewer Comment (2025-02-18): Lender Exception with Compensating Factors. Buyer Comment (2025-02-05): UPE approved PTC by [Redacted] with sufficient CFs uploaded. Reviewer Comment (2025-01-31): Please provide additional compelling compensating factors for consideration of downgrading/waiving exception.

02/18/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Refinance - Cash-out - Other

C

B

C

B

A

A

A

A

Non QM

Non QM

No

506578597

33297276

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-01-30): Sufficient Cure Provided At Closing

01/30/2025

1

A

A

A

A

A

A

A

A

A

A

NY

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

C

B

C

B

A

A

A

A

Non QM

Non QM

Yes

506578597

33297277

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

LTV exceeds maximum allowable of [Redacted]% for a loan amount of $[Redacted].

Borrower has verified disposable income of at least $[Redacted]. Miscellaneous Miscellaneous

Residual income greater than $[Redacted]. Excellent credit management with FICO 720+. Prior homeownership experience (No FC or Short Sale)

Originator,SitusAMC Originator Originator

Reviewer Comment (2025-02-18): Lender Exception with Compensating Factors. Buyer Comment (2025-02-05): UPE approved PTC by [Redacted] with sufficient CFs uploaded. Reviewer Comment (2025-01-31): Please provide additional compelling compensating factors for consideration of downgrading/waiving exception.

02/18/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Refinance - Cash-out - Other

C

B

C

B

A

A

A

A

Non QM

Non QM

No

506578597

33297278

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of ___ exceeds Guideline combined loan to value percentage of ___.

CLTV exceeds maximum allowable of [Redacted]% for a loan amount of $[Redacted].

Borrower has verified disposable income of at least $[Redacted]. Miscellaneous Miscellaneous

Residual income greater than $[Redacted]. Excellent credit management with FICO 720+. Prior homeownership experience (No FC or Short Sale)

Originator,SitusAMC Originator Originator

Reviewer Comment (2025-02-18): Lender Exception with Compensating Factors. Buyer Comment (2025-02-05): UPE approved PTC by [Redacted] with sufficient CFs uploaded. Reviewer Comment (2025-01-31): Please provide additional compelling compensating factors for consideration of downgrading/waiving exception.

02/18/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Refinance - Cash-out - Other

C

B

C

B

A

A

A

A

Non QM

Non QM

No

559757853

33297289

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

File is missing evidence of receipt of Appraisal by borrower.

Reviewer Comment (2025-02-17): Waived per client request Buyer Comment (2025-02-05): Appraisal proof revised appraisal delivered.  Please note, value was not affected.  Please downgrade and waive.

02/17/2025

2

B

B

B

B

B

B

B

B

B

B

NJ

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

559757853

33297290

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2025-02-17): Documents received, system cleared. Buyer Comment (2025-02-05): Appraisal proof revised appraisal delivered.  Please note, value was not affected.  Please downgrade and waive.

02/17/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

559757853

33297291

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

No evidence of appraisal being sent to borrower at least 3 days prior to closing.

Reviewer Comment (2025-02-17): Documents received, system cleared. Buyer Comment (2025-02-05): Appraisal proof revised appraisal delivered.  Please note, value was not affected.  Please downgrade and waive.

02/17/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

559757853

33297293

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

File does not contain a valid COC for the Credit Report fee increase, nor evidence of cure is provided in file.

Reviewer Comment (2025-02-11): [Redacted]Received Corrected PCCD, LOE and Payment history. Buyer Comment (2025-02-11): PCCD and payment history reflecting PR uploaded.

02/11/2025

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

559757853

33297294

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Wire /Funding/ Disbursement Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Title - Wire /Funding/ Disbursement Fee. A Title - Wire /Funding/ Disbursement Fee was added without a valid change of circumstance.  Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-02-12): [Redacted] Received Corrected PCCD, LOE and Payment history. Buyer Comment (2025-02-11): PCCD and payment history reflecting PR uploaded.

02/12/2025

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

559757853

33297295

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Document Preparation Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Title - Document Preparation Fee. A Title - Document Preparation Fee was added without a valid change of circumstance. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-02-12): [Redacted]Received Corrected PCCD, LOE and Payment history. Buyer Comment (2025-02-11): PCCD and payment history reflecting PR uploaded.

02/12/2025

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

559757853

33297297

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2025-02-17): Waived per client request

02/17/2025

2

B

B

B

B

B

NJ

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

No

554835226

33297299

Compliance

Compliance

Federal Compliance

FACTA

Federal FACTA Disclosure Timing Test

FACTA Disclosure Rule: Creditor did not provide FACTA Credit Score Disclosure within a reasonably practicable time after using credit score.

Evidence the FACTA disclosure was provided to the Borrower at least three days after credit report was initial pulled, is missing from the loan file.

Buyer Comment (2025-02-20): Approve

02/20/2025

2

B

B

B

B

B

B

B

B

B

B

WV

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

554835226

33297301

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

The maximum DTI is [Redacted]%.  The calculated DTI is [Redacted]%.

Reviewer Comment (2025-02-12): Lender exception with compensating factors, system cleared.

02/12/2025

1

B

A

C

A

B

A

C

A

B

A

WV

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

554835226

33297302

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General ATR Provision Investor and Non QM DTIs match and both moderately exceed Guidelines

Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of [Redacted]% moderately exceeds the guideline maximum of [Redacted]%. (DTI Exception is eligible to be regraded with compensating factors.)

The maximum DTI is [Redacted]%.  The calculated DTI is [Redacted]%.

Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Residual income > $[Redacted]. Prior homeownership experience (No FC or Short Sale).

Originator,SitusAMC SitusAMC SitusAMC Originator

Reviewer Comment (2025-02-12): Lender exception with compensating factors.

02/12/2025

2

B

B

B

B

B

B

B

B

B

B

WV

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

554835226

33297303

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Calculated investor qualifying total debt ratio of ___ exceeds Guideline total debt ratio of ___.

The maximum DTI is [Redacted]%.  The calculated DTI is [Redacted]%.

Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. Miscellaneous

Residual income > $[Redacted]. Prior homeownership experience (No FC or Short Sale).

Originator,SitusAMC SitusAMC SitusAMC Originator

Reviewer Comment (2025-02-12): Lender exception with compensating factors.

02/12/2025

2

B

B

B

B

B

B

B

B

B

B

WV

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

554835226

33297304

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The maximum DTI is [Redacted]%.  The calculated DTI is [Redacted]%.

Reviewer Comment (2025-02-12): Lender exception with compensating factors, system cleared.

02/12/2025

1

C

A

C

A

C

A

C

A

C

A

WV

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

554835226

33297305

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

Evidence the Borrower can use funds without effect on business is missing from the loan file.

Reviewer Comment (2025-02-24): CPA Letter received and associated. Exception Cleared. Buyer Comment (2025-02-21): CPA letter uploaded addressing use of business funds. Buyer Comment (2025-02-21): The borrower is a realtor and the account is in the borrowers name as an individual. Reviewer Comment (2025-02-21): Required Evidence of Access to Funds letter from a CPA to verify that the funds will not have a negative impact on the business. Exception remains. Buyer Comment (2025-02-20): Please note, business account is in the name of the individual and additional documentation is not required.

02/24/2025

1

C

A

C

A

C

A

C

A

C

A

WV

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

554835226

33297306

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

The final closing disclosure does not reflect the receipt of the $[Redacted] in gift funds.

Reviewer Comment (2025-03-03): Exception Cleared - Received Wire Confirmation for Gift funds $ [Redacted]deposited to settlement agent. Buyer Comment (2025-02-28): Proof wire received into escrow. Reviewer Comment (2025-02-24): Exception Remains - Required Source of Funds for Gift funds $ [Redacted]required donors bank statement or borrowers bank statement reflecting gift funds debited or credit, Provided PCCD is post closed dated. Buyer Comment (2025-02-20): PCCD reflecting gift funds uploaded.

03/03/2025

1

C

A

C

A

C

A

C

A

C

A

WV

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

513646819

33297308

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Tax verification document is not provided for REO property - [Redacted]

Reviewer Comment (2025-03-11): Received Buyer Comment (2025-03-06): Could you please kindly review one more time the documents attached that includes a LOE from bwr stating that the monthly rent from his mobile home includes the property taxes. Please see again REO documents attached Reviewer Comment (2025-03-05): Provided tax document states the tax amount is beginning  [Redacted]and ending [Redacted]  [Redacted]as borrower qualified for the year  [Redacted]. There is no mention of the year  [Redacted]or  [Redacted]. Buyer Comment (2025-03-03): Could you please review one more time the documents attached? page #  [Redacted] of  [Redacted] stated that Property taxes are exempted for the year  [Redacted]and date of the letter is  [Redacted]or kindly escalate this discrepancy with your team lead? Reviewer Comment (2025-02-21): Exception Remains - Provided tax document is for year  [Redacted]as our note date is  [Redacted], We required latest document for tax verification for REO property  [Redacted] tax amount is considered in DTI calculation. Buyer Comment (2025-02-19): Please see documents attached which looks like the property is exempted to pay property taxes.

03/11/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

513646819

33297310

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2025-02-21): Exception Cleared - Received proof of appraisal delivered to borrower data updated as per provided documents. Buyer Comment (2025-02-19): Please see proof of appraisal been delivery to bwr.

02/21/2025

1

B

A

B

A

B

A

B

A

B

A

NY

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

513646819

33297311

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Review Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Appraisal Review Fee. An Appraisal Review fee was added without a valid change of circumstance. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-03-24): [Redacted]received Letter of Explanation, Payment history and Corrected CD. Buyer Comment (2025-03-21): Please see PCCD & Pymt history showing a cure for $ [Redacted]due to increase in appraisal report fee. Reviewer Comment (2025-03-04): [Redacted]received rebuttal comment, however, provided 1004 in the loan file completed with "As Is status" and does not mention subject to repair or subject to completion. Moreover, on CD dated  [Redacted] added appraisal review fee in the amount of $ [Redacted]and Re-inspection added of $ [Redacted]. Hence, we also required additional information of the reason for the addition of the appraisal review fee and inspection fee added What information was received that required the fee and when was that information received, or Cure would be due to borrower. Buyer Comment (2025-03-03): The additional fee was added because we had run a new appraisal update and or completion report which dated  [Redacted]. which is between  [Redacted]business days of adding the re-inspection report. see attached 1004 report Reviewer Comment (2025-02-21): [Redacted]received Changed Circumstance dated  [Redacted], but it does not give sufficient information on why the additional review fee was required. In order to determine if the changed circumstance is valid more information is necessary on reason for the fee added and when lender became aware of the change.  A valid Changed Circumstance or cure is required. Cure consists of Corrected CD, LOE to borrower, proof of mailing and copy of refund check. Buyer Comment (2025-02-19): Please see CD dated [Redacted], COC and proof of delivery attached. showing that increase was a valid increase.

03/24/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

513646819

33297312

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Credit Report Re-Issue Fee. A Credit Report Re-Issue fee was added without a valid change of circumstance. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-02-21): [Redacted]received PCCD, Letter of Explanation and Payment history for the evidence of Principal Reduction resulting in a cured the exception. Buyer Comment (2025-02-19): Please see PCCD attached showing a cure for $ [Redacted]for increase in credit report

02/21/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

557417245

33297325

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Property Costs Year 1 Underdisclosed - October 2018

TILA-RESPA Integrated Disclosure - Loan Disclosures: Amount of Estimated Property Costs over Year 1 of [Redacted] on Final Closing Disclosure provided on [Redacted] are underdisclosed

Amount of Estimated Property Costs over Year 1 of [Redacted] on Final Closing Disclosure provided on [Redacted] are underdisclosed

Reviewer Comment (2025-04-03): [Redacted]received Letter of Explanation & Corrected Closing Disclosure. Buyer Comment (2025-04-02): IEAD uploaded.

04/03/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Refinance - Rate/Term

Letter of Explanation & Corrected Closing Disclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

557417245

33297326

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Will Have Escrow Account

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on [Redacted] incorrectly disclosed whether the loan will have an escrow account.

Final Closing Disclosure provided on [Redacted] incorrectly disclosed whether the loan will have an escrow account.

Reviewer Comment (2025-04-03): [Redacted]received Letter of Explanation & Corrected Closing Disclosure. Buyer Comment (2025-04-02): IEAD uploaded reflecting consummation CD correctly discloses loan will not have escrows.

04/03/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Refinance - Rate/Term

Letter of Explanation & Corrected Closing Disclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

557417245

33297327

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Will Not Have Escrow -  Reason

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on [Redacted] incorrectly disclosed whether the loan will have an escrow account.

Final Closing Disclosure provided on [Redacted] incorrectly disclosed whether the loan will have an escrow account.

Reviewer Comment (2025-04-03): [Redacted]received corrected PCCD & LOE Buyer Comment (2025-04-02): IEAD uploaded reflecting consummation CD correctly discloses loan will not have escrows.

04/03/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Refinance - Rate/Term

Letter of Explanation & Corrected Closing Disclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

557417245

33297328

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Will Not Have Escrow Account

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on [Redacted]incorrectly disclosed whether the loan will have an escrow account.

Final Closing Disclosure provided on [Redacted] incorrectly disclosed whether the loan will have an escrow account.

Reviewer Comment (2025-04-03): [Redacted]received Letter of Explanation & Corrected Closing Disclosure. Buyer Comment (2025-04-02): IEAD uploaded reflecting consummation CD correctly discloses loan will not have escrows.

04/03/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Refinance - Rate/Term

Letter of Explanation & Corrected Closing Disclosure

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

557417245

33297329

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Lender Credit Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure:Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $-[Redacted] exceeds tolerance of $-[Redacted]. Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Lender Credits. Final Lender Credit of $-[Redacted] exceeds tolerance of $-[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-04-03): [Redacted]received corrected PCCD, LOE and payment history for principal reduction of cure Buyer Comment (2025-04-02): PCCD and payment history reflecting PR uploaded.

04/03/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

557417245

33297330

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $XXX exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-04-03): [Redacted]received corrected PCCD, LOE and payment history for principal reduction of cure Buyer Comment (2025-04-02): PCCD and payment history reflecting PR uploaded.

04/03/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Primary

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

557417245

33297331

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The Borrower was not in title to the property at origination and no Deed in file reflecting ownership transfer.

Reviewer Comment (2025-03-24): Provided. Buyer Comment (2025-03-21): Separation agreement reflecting borrower has been awarded subject property.

03/24/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Rate/Term

C

B

C

A

C

B

A

A

Non QM

Non QM

No

593594636

33325693

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Tradeline requirement not met, lender exception in file.

Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years.

$[Redacted] residual income.

Originator,SitusAMC SitusAMC

Reviewer Comment (2025-04-30): The client elects to waive with comp factors. Reviewer Comment (2025-04-24): Lender exception in file.

04/30/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

500598570

33318493

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Re-Inspection Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Appraisal Re-Inspection Fee. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-04-06): [Redacted]Received COC dated  [Redacted] and file contains supporting document showing Appraisal receipt date as  [Redacted] Buyer Comment (2025-04-03): See Uploaded CoC

04/06/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

500598570

33318494

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Collateral Desktop Analysis.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Collateral Desktop Analysis. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-04-09): [Redacted]received a valid COC. Buyer Comment (2025-04-08): See Updated CoC Reviewer Comment (2025-04-06): [Redacted]received Changed Circumstance dated  [Redacted] but it does not give sufficient information on why the CDA fee was added.  In order to determine if the changed circumstance is valid more information is necessary on reason fee added and when lender became aware of the change.  A valid Changed Circumstance or cure is required.  Cure consists of Corrected CD, LOE to borrower, proof of mailing and copy of refund check. Buyer Comment (2025-04-03): See Uploaded CoC

04/09/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

500598570

33318495

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

The file was missing a copy of Business Bank Statements for two months. ([Redacted] and [Redacted]).

Reviewer Comment (2025-04-09): Received and associated business bank statements from [Redacted] # [Redacted]covering period from  [Redacted] to  [Redacted] and  [Redacted] to  [Redacted]. Exception cleared. Buyer Comment (2025-04-08): See Uploaded Business Bank Statements for [Redacted] and [Redacted]  [Redacted]acct # [Redacted] Reviewer Comment (2025-04-07): Received "Business Bank Statement A/C number is # [Redacted]" however, Income Calculated "Business Bank Statement A/C number is # [Redacted]". Please provided Business bank statements for  [Redacted]months "([Redacted] and [Redacted]  [Redacted]) account ending with # [Redacted]". Exception remains Buyer Comment (2025-04-03): Business Bank Statements [Redacted] Buyer Comment (2025-04-03): Business Bank Statements  [Redacted] Buyer Comment (2025-04-03): See Uploaded Business Bank Statements for [Redacted] and [Redacted]  [Redacted]

04/09/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

500598570

33318496

Credit

Missing Document

General

Missing Document

Missing Document: Account Statements - Business not provided

The file was missing a copy of Business Bank Statements for two months. ([Redacted] and [Redacted]).

Reviewer Comment (2025-04-09): Received and associated business bank statements from [Redacted] # [Redacted]covering period from  [Redacted] to [Redacted] and  [Redacted] to  [Redacted]. Exception cleared. Buyer Comment (2025-04-08): See Uploaded Business Bank Statements for [Redacted] and [Redacted]  [Redacted]acct # [Redacted] Reviewer Comment (2025-04-07): Received "Business Bank Statement A/C number is # [Redacted]" however, Income Calculated "Business Bank Statement A/C number is # [Redacted]". Please provided Business bank statements for  [Redacted]months "([Redacted] and [Redacted]  [Redacted]) account ending with # [Redacted]". Exception remains Buyer Comment (2025-04-03): See Uploaded Business Bank statements attached to condition # [Redacted] Buyer Comment (2025-04-03): See Uploaded Business Bank Statements for [Redacted] and [Redacted]  [Redacted]

04/09/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

570495014

33318596

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

Reviewer Comment (2025-04-10): Received and associated  Articles of Organization/Formation for  [Redacted]. Exception cleared. Buyer Comment (2025-04-08): See docs from lender - WA does not require Articles of Organization Reviewer Comment (2025-04-08): Missing articles or formation/organization. Buyer Comment (2025-04-07): See docs provided

04/10/2025

1

C

A

C

A

C

A

C

A

C

A

WA

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

580748505

33318602

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception is approved for FTI on a refinance.

Miscellaneous Borrower has a clean housing payment history Miscellaneous The qualifying DSCR on the loan is greater than the guideline minimum.

[Redacted] months reserves. Housing payment history clean for [Redacted] months Borrower has owned primary residence for [Redacted] years. The DSCR of [Redacted] is greater than the minimum required DSCR of [Redacted]

Originator Originator Originator SitusAMC,Aggregator

Reviewer Comment (2025-04-08): Lender exception in file.

04/08/2025

2

C

B

C

B

C

B

C

B

C

B

RI

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

569853558

33318608

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.

Calculated Debt Service Coverage Ratio (Subject DSCR) of ___ does not meet Guideline Debt Service Coverage Ratio (Subject DSCR) ___.

The calculated DSCR is less than [Redacted], lender exception in file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

[Redacted] months reserves. Fico is [Redacted] points above guideline minimum.

Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-14): Lender exception in file.

04/14/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Purchase

B

B

B

B

A

A

N/A

No

569853558

33318609

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Investor concentration over [Redacted]%, lender exception in file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

[Redacted] months reserves. Fico is [Redacted] points above guideline minimum.

Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-14): Lender exception in file.

04/14/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Purchase

B

B

B

B

A

A

N/A

No

519468305

33318622

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Reviewer Comment (2025-03-31): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-03-27): Attached Buyer Comment (2025-03-27): Fraud report

03/31/2025

1

C

A

C

A

C

A

C

A

C

A

UT

Investment

Purchase

C

B

C

B

A

A

A

A

N/A

No

519468305

33318624

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

The file was missing copy of HOA Verification. Tax Verification.

Reviewer Comment (2025-04-09): Documentation provided; exception cleared. Buyer Comment (2025-04-08): HOA Letter Buyer Comment (2025-04-08): 1008 Buyer Comment (2025-04-08): ARC Final 1003 Reviewer Comment (2025-03-31): Provided Tax Verification document reflects$ [Redacted]however, final 1003 listed other payment as $ [Redacted]Please provide supporting document for other payment of $ [Redacted]. Exception remains Buyer Comment (2025-03-27): Tx bill for [Redacted]. Land only. No HOA.

04/09/2025

1

C

A

C

A

C

A

C

A

C

A

UT

Investment

Purchase

C

B

C

B

A

A

A

A

N/A

No

519468305

33318625

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exception for a studio condotel. Approval in file.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

$[Redacted] residual income. Fico is [Redacted] points above guideline minimum.

SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2025-03-27): Lender exception in file.

03/27/2025

2

B

B

B

B

B

B

B

B

B

B

UT

Investment

Purchase

C

B

C

B

A

A

A

A

N/A

No

519468305

33318626

Credit

Income / Employment

Income Documentation

Income / Employment

The verification of employment is required and was not found in file.

-

Missing a VVOE for [Redacted] dated within 10 business days prior to the Note date.

Reviewer Comment (2025-04-02): Received and Associated VVOE document for State Of [Redacted]. Exception cleared. Buyer Comment (2025-04-01): See Uploaded VVOE

04/02/2025

1

C

A

C

A

C

A

C

A

C

A

UT

Investment

Purchase

C

B

C

B

A

A

A

A

N/A

No

569162378

33318627

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception approved for non-warrantable condo < [Redacted] sq ft.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

$[Redacted] residual income. [Redacted] months reserves. LTV/CLTV is [Redacted]% below guideline max. LTV/CLTV is [Redacted]% below guideline max. Fico is [Redacted] points above guideline minimum.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-15): Lender exception in file.

04/15/2025

2

B

B

B

B

B

B

B

B

B

B

NJ

Investment

Purchase

B

B

B

B

A

A

A

A

N/A

No

565002776

33356545

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

EAD category CO8, lender exception in file.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum.

$[Redacted] residual income.

SitusAMC Originator,SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2025-04-27): Lender exception in file.

04/27/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Refinance - Cash-out - Other

B

B

B

B

A

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

554891314

33347121

Compliance

Loan Package Documentation

Closing / Title

Missing, Incorrect, or Incomplete Note

Missing Document: Note - Subject Lien not provided

The file was missing a copy of Note.

Reviewer Comment (2025-04-18): Note provided, exception cleared. Buyer Comment (2025-04-17): Note Buyer Comment (2025-04-17): Attached

04/18/2025

1

D

A

D

A

D

A

D

A

D

A

AZ

Primary

Purchase

D

A

A

A

D

A

A

A

Non QM

Non QM

No

546263799

33368890

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception approved for first time investor on a refinance.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[Redacted]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Over X months of reserves

SitusAMC,Aggregator SitusAMC SitusAMC

Reviewer Comment (2025-04-30): The client elects to waive.

04/30/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

500454634

33392019

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception approved for waiving of 12 months rental receipts.

The qualifying DSCR on the loan is greater than the guideline minimum. Borrower has owned the subject property for at least [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

The DSCR of [Redacted] is greater than the minimum required DSCR of [Redacted].

Originator SitusAMC SitusAMC SitusAMC

Reviewer Comment (2025-05-02): Exception approval in file with comp factors cited.

05/02/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

516556056

33391851

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception approved for a layered entity.

The representative FICO score exceeds the guideline minimum by at least [Redacted] points. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Exception approved with comp factors cited

SitusAMC,Originator SitusAMC

Reviewer Comment (2025-05-02): Exception approved with comp factors cited.

05/02/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

594361038

33393615

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

The commitment title report in file disclosed $[Redacted] of title insurance coverage; however, this is less than the loan amount of $[Redacted].

Reviewer Comment (2025-05-15): Documentation provided; exception cleared. Seller Comment (2025-05-13): Attached the Title Commitment with the correct amount.

05/15/2025

1

B

A

B

A

B

A

B

A

B

A

MA

Primary

Refinance - Cash-out - Other

C

A

B

A

C

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

594361038

33396167

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Interim Closing Disclosure Timing Test

TILA-RESPA Integrated Disclosure - Corrected Closing Disclosure provided on or after [Redacted] contains a change in APR and a complete Closing Disclosure was not received by borrower at least three (3) business days prior to consummation

The Closing Disclosure issued [Redacted] had a change in APR to [Redacted] from the [Redacted] APR on the prior CD dated [Redacted] and the borrower was not given a new 3 day waiting period.

Reviewer Comment (2025-05-12): [Redacted]received proof of sequence of  [Redacted] CD's. Seller Comment (2025-05-09): [Redacted] - Response to [Redacted] Reviewer comments:  Entered comments in [Redacted].  Uploaded LOX, COC & Executed Re-disclosed CD issued  [Redacted] prior to closing to Clarity.  Re-disclosed CD  [Redacted] - executed by both parties is the next CD disclosed following the ICD.  This is Document #  [Redacted].  Disclosed on  [Redacted]5 @  [Redacted]. - APR  [Redacted]%.  Re-disclosed CD  [Redacted] - Executed by Borrower -  [Redacted] -  [Redacted] is title holder only.  This is Document #  [Redacted] - last CD disclosed prior to closing on  [Redacted].  Disclosed on  [Redacted] @  [Redacted]pm., viewed and completed on  [Redacted] - APR  [Redacted]% - meets [Redacted]day waiting period due to increase in APR of . [Redacted]%.  DocMagic eSign Console and MeridianLink disclosure tracking support the chronological order of disclosure for CD's issued  [Redacted]. Seller Comment (2025-05-09): [Redacted] - Response to [Redacted] Reviewer comments:  Entered comments in [Redacted].  Uploaded LOX, COC & Executed Re-disclosed CD issued  [Redacted] prior to closing to Clarity.  Re-disclosed CD  [Redacted]- executed by both parties is the next CD disclosed following the ICD.  This is Document #  [Redacted].  Disclosed on [Redacted] @  [Redacted]. - APR  [Redacted]%.  Re-disclosed CD  [Redacted] - Executed by Borrower -  [Redacted] -  [Redacted] is title holder only.  This is Document #  [Redacted]- last CD disclosed prior to closing on  [Redacted].  Disclosed on  [Redacted] @  [Redacted]., viewed and completed on  [Redacted] - APR  [Redacted]% - meets  [Redacted]) day waiting period due to increase in APR of . [Redacted]%.  DocMagic eSign Console and [Redacted] disclosure tracking support the chronological order of disclosure for CD's issued  [Redacted]. Seller Comment (2025-05-09): [Redacted] - Response to [Redacted] Reviewer comments:  Entered comments in [Redacted].  Uploaded LOX, COC & Executed Re-disclosed CD issued  [Redacted] prior to closing to [Redacted].  Re-disclosed CD  [Redacted] - executed by both parties is the next CD disclosed following the ICD.  This is Document #  [Redacted].  Disclosed on  [Redacted] @  [Redacted]. - APR  [Redacted]%.  Re-disclosed CD  [Redacted] - Executed by Borrower -  [Redacted] -  [Redacted]s is title holder only.  This is Document #  [Redacted]- last CD disclosed prior to closing on  [Redacted].  Disclosed on  [Redacted] @ [Redacted]., viewed and completed on  [Redacted] - APR  [Redacted]% - meets  [Redacted] day waiting period due to increase in APR of . [Redacted]%.  DocMagic eSign Console and [Redacted] disclosure tracking support the chronological order of disclosure for CD's issued [Redacted]. Reviewer Comment (2025-05-07): Document  [Redacted]is being tested as a later CD and does show as signed. the earlier CD Doc  [Redacted]is not signed. Both CD's must be tested as there are Lender Credit changes on the later CD, and signed CD shows a change in APR. Please provide documentation of received and issued dates for both CDs for accurate testing. Seller Comment (2025-05-06): [Redacted]- Entered comments in DD Portal & Clarity.  Exception is invalid - please cancel.  CD issued  [Redacted] executed via DocMagic eSign by both borrowers - located in [Redacted] - Document #  [Redacted].  There is no timing issue - CD issued to borrower  [Redacted], received and executed  [Redacted], which is at least  [Redacted]) business days from Executed Final CD issued at closing  [Redacted].  Please review and cancel - document was available at time of review.

05/12/2025

1

C

A

C

A

C

A

C

A

C

A

MA

Primary

Refinance - Cash-out - Other

TRID timing exception, no remediation available.

C

A

B

A

C

A

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

539145600

33411204

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Attorney Review Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-05-05): Sufficient Cure Provided At Closing

05/05/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

B

B

B

B

A

A

A

A

Non QM

Non QM

Yes

539145600

33411493

Credit

Credit

Credit Calculation / Analysis

Credit

Guideline Issue:  Insufficient tradelines per credit guidelines

Tradelines do not meet guideline requirement, lender exception provided.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum.

$[Redacted] residual income [Redacted] months reserves.

SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC

Reviewer Comment (2025-05-07): Lender exception in file.

05/07/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

B

B

B

B

A

A

A

A

Non QM

Non QM

No

595378035

33404679

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of ___ is less than Guideline PITIA months reserves of ___.

Missing letter from non-borrower on shared accounts being used to qualify allowing use of [Redacted]% of funds by the borrower.

Reviewer Comment (2025-04-18): Please provide "Letter from Non-borrower on shared accounts being used to qualify allowing use [Redacted]% of funds by borrower". Exception remains Buyer Comment (2025-04-16): Total Assets verified $[Redacted]contains sufficient reserves to meet guides. See provided Bank statements verifying assets.

04/18/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Investment

Purchase

C

A

C

A

A

A

N/A

No

595378035

33404680

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing documentation to support possible second borrower on this loan. Note was signed by an additional party but there is no application or approval supporting his inclusion on the loan.

Reviewer Comment (2025-04-26): Corrected Note provided reflecting only one borrower.

04/26/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Investment

Purchase

C

A

C

A

A

A

N/A

No

595378035

33404681

Credit

Asset

Asset Documentation

Asset

Insufficient funds for Reserves. Guidelines require

___, and verified reserves are ___.

Missing letter from borrower's partner reflecting that the borrower has full access to all funds in business account.

Reviewer Comment (2025-04-18): Please provide "Letter from Non-borrower on shared accounts being used to qualify allowing use [Redacted]% of funds by borrower". Exception remains Buyer Comment (2025-04-16): Total Assets verified $[Redacted]contains sufficient reserves to meet guides. See provided Bank statements verifying assets.

04/18/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Investment

Purchase

C

A

C

A

A

A

N/A

No

595378035

33404682

Credit

Business Purpose

General

Business Purpose

Insufficient funds for Reserves.

Guidelines require ___  of reserves, and verified reserves are ___.

Missing letter from borrower's partner reflecting that the borrower has full access to all funds in business account.

Reviewer Comment (2025-04-18): Please provide "Letter from Non-borrower on shared accounts being used to qualify allowing use [Redacted]% of funds by borrower". Exception remains Buyer Comment (2025-04-16): Total Assets verified $[Redacted]contains sufficient reserves to meet guides. See provided Bank statements verifying assets.

04/18/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Investment

Purchase

C

A

C

A

A

A

N/A

No

538215848

33404685

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

.

Reviewer Comment (2025-04-23): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-04-21): Drive Report Buyer Comment (2025-04-21): See Uploaded Final Drive Report

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

A

C

A

A

A

N/A

No

538215848

33404686

Credit

Credit

Credit Documentation

Credit

No evidence of fraud report in file

-

Reviewer Comment (2025-04-23): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-04-21): Drive Report Buyer Comment (2025-04-21): See Uploaded Final Drive Report

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

A

C

A

A

A

N/A

No

563302700

33404691

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Maximum Loan Amount discrepancy.

Note loan amount of ___ is greater than Guideline maximum loan amount of ___.

Loan amount exceeds max loan amount allowed per guidelines, lender exception provided.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum.

$[Redacted] residual income. [Redacted] months reserves LTV and CLTV is [Redacted]% below guideline max. LTV and CLTV is [Redacted]% below guideline max. DTI s [Redacted]% below guideline max.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-24): Lender exception in file.

04/24/2025

2

B

B

B

B

B

B

B

B

B

B

AZ

Investment

Purchase

B

B

B

B

A

A

A

A

N/A

No

518080322

33404695

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Amount Financed Test

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[Redacted] is over disclosed by $[Redacted]compared to the calculated Amount Financed of $[Redacted] and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate (fee amounts included in Amount Financed and Finance Charge calculations are based on Closing Disclosure dated [Redacted]).

Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[Redacted] is over disclosed by $[Redacted] compared to the calculated Amount Financed of $[Redacted] and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate (fee amounts included in Amount Financed and Finance Charge calculations are based on Closing Disclosure dated [Redacted]). (Final/[Redacted])

Reviewer Comment (2025-04-22): [Redacted]received statement of fee purpose. Buyer Comment (2025-04-21): See docs provided Reviewer Comment (2025-04-17): [Redacted]received copy of email stating title service charge is part of borrower title insurance. In order to exclude "Title - Service Charges" from finance charge considerations on loans with a property state of Missouri, we would look for one of the following from the title company to be included in the loan file for documentation of the basis for exclusion: 1) an itemization of fees/services included in the "Title - Service Charges"; or 2) written confirmation/attestation from Title company that the fee labeled "Title - Service Charges" is comprised only of 4(c)(7) fees such as title examination, abstract of title, title insurance, property survey, and similar purposes, and does not include charges for ancillary title services such as title admin, title processing, etc. If title indicates in their attestation that this is their practice consistently for all transactions, a single attestation may be acceptable for all transactions where the property state is [Redacted] and the title company providing the attestation is the provider to whom the "Title - Service Charges" on the CD is paid to. Buyer Comment (2025-04-15): See docs provided Reviewer Comment (2025-04-14): [Redacted]received itemization of prepaid finance charges, however it  is unclear why $[Redacted]Title - Service Charge was not included as a finance charge. Please provide a title invoice or similar documentation itemizing the services included in this fee for further review. Buyer Comment (2025-04-10): See docs provided

04/22/2025

1

C

A

C

A

C

A

C

A

C

A

MO

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

518080322

33404696

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Finance Charge

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan.  The disclosed Finance Charge in the amount of $[Redacted] is under disclosed by $[Redacted] compared to the calculated Finance Charge of $[Redacted] which exceeds the $[Redacted] threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated [Redacted]).

Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan. The disclosed Finance Charge in the amount of $[Redacted] is under disclosed by $[Redacted] compared to the calculated Finance Charge of $[Redacted] which exceeds the $[Redacted] threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated [Redacted]). (Final/[Redacted])

Reviewer Comment (2025-04-22): [Redacted]received statement of fee purpose. Reviewer Comment (2025-04-17): [Redacted]received copy of email stating title service charge is part of borrower title insurance. In order to exclude "Title - Service Charges" from finance charge considerations on loans with a property state of Missouri, we would look for one of the following from the title company to be included in the loan file for documentation of the basis for exclusion: 1) an itemization of fees/services included in the "Title - Service Charges"; or 2) written confirmation/attestation from Title company that the fee labeled "Title - Service Charges" is comprised only of 4(c)(7) fees such as title examination, abstract of title, title insurance, property survey, and similar purposes, and does not include charges for ancillary title services such as title admin, title processing, etc. If title indicates in their attestation that this is their practice consistently for all transactions, a single attestation may be acceptable for all transactions where the property state is [Redacted] and the title company providing the attestation is the provider to whom the "Title - Service Charges" on the CD is paid to. Buyer Comment (2025-04-15): See docs provided Reviewer Comment (2025-04-14): [Redacted]received itemization of prepaid finance charges, however it  is unclear why $[Redacted]Title - Service Charge was not included as a finance charge. Please provide a title invoice or similar documentation itemizing the services included in this fee for further review. Buyer Comment (2025-04-10): See docs provided

04/22/2025

1

C

A

C

A

C

A

C

A

C

A

MO

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission if Applicable

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

518080322

33404698

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Missing evidence of borrower's percentage of business ownership. Two business narratives in file, one states [Redacted]% ownership, one reflects [Redacted]% ownership.

Reviewer Comment (2025-04-17): Received and associated updated 1003 final and 1008 document. Exception Cleared. Buyer Comment (2025-04-15): See updated 1003 income Reviewer Comment (2025-04-10): Received Business documents showing [Redacted]% Ownership of the business however Borrower is qualifying [Redacted]% Ownership, Please provide supporting documents. Exception remains. Buyer Comment (2025-04-08): See docs provided

04/17/2025

1

C

A

C

A

C

A

C

A

C

A

MO

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

577411345

33404701

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

There is a lender exception in the file from the lender, however unable to determine what the exception is for based on the abbreviations uses ed. Also, any lender exception requires a lender exception from Arc as well.

Reviewer Comment (2025-04-17): Explanation provided, exception cleared. Buyer Comment (2025-04-15): See docs provided

04/17/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

530563063

33404708

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Expense Letter from CPA for [Redacted] was not provided. Expense ratio from CPA (Option 2) was shown used on UW worksheet in file with [Redacted]% expense factor.

Reviewer Comment (2025-04-22): Client explanation provided, exception cleared. Buyer Comment (2025-04-17): Lender's push back: We don't have a 3rd party expense ratio The [Redacted]% expense factor based on the UW review of the expenses that were consistent each month coming out of the business bank statement. The ARC Fixed expense ratio for a Capital-Intensive Business is [Redacted]% with [Redacted] employees.  The UW was just using a more conservative approach.   Should we update the worksheet to [Redacted]% Fixed Expense Raio and increase the borrower's income or can we keep it as is.? Reviewer Comment (2025-04-11): Received CPA Letter showing [Redacted]% Ownership of the business. Please provided supporting documents for "Expense Ratio". Exception remains. Buyer Comment (2025-04-09): See docs provided

04/22/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Rate/Term

C

A

C

A

A

A

A

A

Non QM

Non QM

No

564452682

33404711

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal was made "subject to" and Form 1004D/442 was not provided.

-

Appraisal was made subject to and file was missing a copy of  442 images.

Reviewer Comment (2025-04-28): Received and associated Final Inspection / [Redacted]document. Exception Cleared. Buyer Comment (2025-04-24): Final inspection attached Reviewer Comment (2025-04-11): Please provided Final Inspection /[Redacted]document. Exception remains. Buyer Comment (2025-04-09): See docs provided Buyer Comment (2025-04-09): See photos provided

04/28/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

A

C

A

C

A

C

A

Non QM

Non QM

No

564452682

33404714

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

EMD is unsourced

Reviewer Comment (2025-04-14): Source of EMD provided, exception cleared. Buyer Comment (2025-04-10): See docs provided

04/14/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

A

C

A

C

A

C

A

Non QM

Non QM

No

564452682

33404715

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-04-14): Source of EMD provided, exception cleared. Buyer Comment (2025-04-10): See docs provided

04/14/2025

1

B

A

C

A

B

A

C

A

B

A

TX

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

C

A

Non QM

Non QM

Yes

564452682

33404716

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-04-14): Source of EMD provided, exception cleared. Buyer Comment (2025-04-10): See docs provided

04/14/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

A

C

A

C

A

C

A

Non QM

Non QM

No

549749254

33404727

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Collateral Desktop Analysis.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Collateral Desktop Analysis. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. Insufficient or no cure was provided to the borrower. ([Redacted])

Reviewer Comment (2025-04-25): [Redacted]Received Valid COC along with additional information on Comment. Buyer Comment (2025-04-24): No score was received from Fannie on [Redacted]. Additional inspection required. Reviewer Comment (2025-04-24): [Redacted]Received COC dated [Redacted] however, it does not give sufficient information what impacts and why the UW requested additional inspection. In order to determine if the changed circumstance is valid more information is necessary on reason fee added and when lender became aware of the change.  A valid Changed Circumstance or cure is required.  Cure consists of Corrected CD, LOE to borrower, proof of mailing and copy of refund check. Buyer Comment (2025-04-22): COC

04/25/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

540391500

33404732

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%. Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2025-04-23): Evidence of delivery for all appraisals was provided.

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

540391500

33404733

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three business days prior to consummation.

Reviewer Comment (2025-04-14): Evidence of receipt of appraisal dated [Redacted] was provided, exception cleared. Buyer Comment (2025-04-14): See uploaded Appraisal delivery verification documented on page [Redacted] of Disclosure tracking details.

04/14/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

540391500

33404734

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three business days prior to consummation.

Reviewer Comment (2025-04-23): Evidence of delivery for all appraisals was provided. Buyer Comment (2025-04-21): See uploaded Appraisal Delivery verification docs Reviewer Comment (2025-04-14): Still missing evidence of receipt of the appraisal dated [Redacted], exception remains. Buyer Comment (2025-04-14): See uploaded Appraisal delivery verification documented on page [Redacted] of Disclosure tracking details.

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

567992645

33404742

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Using w2 transcripts in lieu of actual w2's, a XXX lender exception was provided, however missing a lender exception from [Redacted].

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

[Redacted]% LTV

SitusAMC,Originator Pre-Close,Aggregator SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2025-04-28): The client elects to waive. Buyer Comment (2025-04-25): ARC exception attached

04/28/2025

2

C

B

C

B

C

B

C

B

C

B

WA

Primary

Purchase

C

B

C

B

A

A

A

A

Non QM

Non QM

No

569127250

33404743

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Approval Document was not provided in the file.

Reviewer Comment (2025-04-21): Received and associated Approval Document. Exception Cleared. Buyer Comment (2025-04-18): Approval Buyer Comment (2025-04-18): 1008

04/21/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

598462142

33404751

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-18): Sufficient Cure Provided At Closing

04/18/2025

1

A

A

A

A

A

A

A

A

A

A

WA

Primary

Refinance - Rate/Term

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

Yes

588717929

33404756

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Resident Alien Card in file has expired..Lender exception for Permanent Resident Alien Card being expired but has an extension per the I-797. Approval in file.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum.

$[Redacted] residual income [Redacted] months reserves DTI is [Redacted]% below guideline max.

SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-23): Lender exception in file.

04/23/2025

2

B

B

B

B

B

B

B

B

B

B

VT

Primary

Refinance - Cash-out - Other

B

B

B

B

A

A

A

A

Non QM

Non QM

No

541305662

33404758

Credit

Title

Document Error

Title

The Preliminary title policy is within CA or NV and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The Preliminary title policy amount is blank. A Final Policy was not provided.

Reviewer Comment (2025-04-25): A Supplemental was provided with enough coverage. Reviewer Comment (2025-04-24): Loan amount does not match supplement. Buyer Comment (2025-04-23): See Uploaded Title Supplement with policy amount. Buyer Comment (2025-04-23): Title Supplement

04/25/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Purchase

B

A

B

A

A

A

A

A

Non QM

Non QM

No

570865925

33404761

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted] % or Final Disclosure APR of [Redacted] % is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%. Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2025-04-30): Received Appraisal proof of delivery confirming appraisal was delivered to the borrower on [Redacted]. Exception cleared. Buyer Comment (2025-04-28): COC and LE dated[Redacted] Buyer Comment (2025-04-28): COC and LE dated [Redacted]

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

570865925

33404762

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2025-04-30): Received Appraisal proof of delivery confirming appraisal was delivered to the borrower on [Redacted]. Exception cleared. Buyer Comment (2025-04-28): Proof of appraisal delivery Buyer Comment (2025-04-28): Appraisal Delivery

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

570865925

33404763

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Loan Discount Points. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-04-30): [Redacted] received valid COC dated [Redacted] Buyer Comment (2025-04-28): COC and LE dated [Redacted]

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

597944510

33468939

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Self-Employed Tax Return Recency - QM

General QM: Self Employed Tax Returns - The business or personal tax returns provided are not the most recent. Application Date [Redacted],  Most Recent Tax Return End Date [Redacted], Tax Return Due Date [Redacted].

The business or personal tax returns provided are not the most recent. Application Date [Redacted], Most Recent Tax Return End Date [Redacted], Tax Return Due Date [Redacted].

Reviewer Comment (2025-06-09): Client accepts level 2 exception as is.

2

B

B

B

B

B

B

B

B

B

B

PA

Primary

Refinance - Cash-out - Other

B

B

A

A

B

B

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

597944510

33468940

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Self-Employed Tax Return Recency - QM

General QM: Self Employed Tax Returns - The business or personal tax returns provided are not the most recent. Application Date [Redacted],  Most Recent Tax Return End Date [Redacted], Tax Return Due Date [Redacted].

The business or personal tax returns provided are not the most recent. Application Date [Redacted], Most Recent Tax Return End Date [Redacted], Tax Return Due Date [Redacted].

Reviewer Comment (2025-06-09): Client accepts level 2 exception as is.

2

B

B

B

B

B

B

B

B

B

B

PA

Primary

Refinance - Cash-out - Other

B

B

A

A

B

B

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

597944510

33468941

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Self-Employed Tax Return Recency - QM

General QM: Self Employed Tax Returns - The business or personal tax returns provided are not the most recent. Application Date [Redacted],  Most Recent Tax Return End Date [Redacted], Tax Return Due Date [Redacted].

The business or personal tax returns provided are not the most recent. Application Date [Redacted], Most Recent Tax Return End Date [Redacted], Tax Return Due Date [Redacted].

Reviewer Comment (2025-06-09): Client accepts level 2 exception as is.

2

B

B

B

B

B

B

B

B

B

B

PA

Primary

Refinance - Cash-out - Other

B

B

A

A

B

B

A

A

Safe Harbor QM (APOR)

Safe Harbor QM (APOR)

No

599271210

33483954

Credit

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal not provided

Reviewer Comment (2025-04-10): Received and associated 1004/70 Appraisal document. Exception cleared. Buyer Comment (2025-04-09): attached Buyer Comment (2025-04-09): appraisal

04/10/2025

1

D

A

D

A

D

A

D

A

D

A

FL

Primary

Purchase

D

B

D

A

C

B

D

A

Non QM

Non QM

No

599271210

33483955

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Appraisal is missing. Sec ID: 1

Reviewer Comment (2025-04-10): Received and associated 1004/70 Appraisal document. Exception Cleared. Buyer Comment (2025-04-09): attached Buyer Comment (2025-04-09): Appraisal uploaded to [Redacted]

04/10/2025

1

D

A

D

A

D

A

D

A

D

A

FL

Primary

Purchase

D

B

D

A

C

B

D

A

Non QM

Non QM

No

599271210

33483958

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted]. No valid changed circumstance was provided. Insufficient cure provided for all closing costs above the legal limit.

Reviewer Comment (2025-04-10): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception. Buyer Comment (2025-04-09): COC and CD for Buyer Comment (2025-04-09): Cure of $[Redacted]listed on final CD for Closing Costs above legal limit.

04/10/2025

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

B

D

A

C

B

D

A

Non QM

Non QM

Yes

599271210

33483959

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Extension Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Extension Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. No valid changed circumstance was provided. Insufficient cure provided for all closing costs above the legal limit.

Reviewer Comment (2025-04-16): [Redacted]received a valid COC. Buyer Comment (2025-04-15): COC and CD for [Redacted] Buyer Comment (2025-04-15): COC and CD for[Redacted] Reviewer Comment (2025-04-10): [Redacted] received COC dated [Redacted] for change in pricing due to change in FICO. But the extension fee was added on [Redacted] for which there is no COC provided in file. Please provide COC for re-baseline or need cure. Buyer Comment (2025-04-09): COC and CD for lock extension fee Buyer Comment (2025-04-09): LOE for cure

04/16/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

B

D

A

C

B

D

A

Non QM

Non QM

Yes

599271210

33483960

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. Insufficient cure provided for all closing costs above the legal limit.

Reviewer Comment (2025-04-10): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception. Buyer Comment (2025-04-09): LOE for cure Buyer Comment (2025-04-09): Cure of $[Redacted]listed on final CD for Closing Costs above legal limit.

04/10/2025

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

B

D

A

C

B

D

A

Non QM

Non QM

Yes

599271210

33483961

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Business Narrative documentation was not provided.

Reviewer Comment (2025-04-11): Received and associated business narrative document for [Redacted]. Exception Cleared. Buyer Comment (2025-04-09): Business narrative

04/11/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

D

B

D

A

C

B

D

A

Non QM

Non QM

No

599271210

33483962

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-16): Sufficient Cure Provided At Closing

04/16/2025

1

A

A

A

A

A

FL

Primary

Purchase

Final CD evidences Cure

D

B

D

A

C

B

D

A

Non QM

Non QM

Yes

599271210

33483963

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-16): Sufficient Cure Provided At Closing

04/16/2025

1

A

A

A

A

A

FL

Primary

Purchase

Final CD evidences Cure

D

B

D

A

C

B

D

A

Non QM

Non QM

Yes

510587791

33484008

Compliance

Compliance

State Compliance

Misc. State Level

Ohio Consumer Sales Practices Act (No Documentation of Tangible Net Benefit Analysis)

Ohio Consumer Sales Practices Act:  Mortgage loan file does not contain documentation of the analysis of the borrower's reasonable tangible net benefit.

Reviewer Comment (2025-05-08): A Tangible Net Benefit Worksheet was provided Buyer Comment (2025-05-06): See Uploaded NTB Analysis

05/08/2025

1

B

A

B

A

B

A

B

A

B

A

OH

Primary

Refinance - Cash-out - Other

C

B

B

B

C

B

A

A

Non QM

Non QM

No

510587791

33484009

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Survey Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Survey Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. No valid changed circumstance was provided. No cure was provided to the Borrower.

Reviewer Comment (2025-05-06): [Redacted]received Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD. Buyer Comment (2025-05-05): PCCD, Refund LOX, Refund Check and proof of mailing

05/06/2025

2

C

B

C

B

C

B

C

B

C

B

OH

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

510587791

33484010

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

A lender exception to allow a CDA on the appraisal prior to the revision is in file.

Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

$[Redacted] residual income. Fico is [Redacted] points above guideline minimum.

Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-15): Lender exception in file.

04/15/2025

2

B

B

B

B

B

B

B

B

B

B

OH

Primary

Refinance - Cash-out - Other

C

B

B

B

C

B

A

A

Non QM

Non QM

No

570888222

33484042

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Missing vvoe dated within 10 business days prior to the Note for employment with the [Redacted] XXX.

Reviewer Comment (2025-05-05): The Lender follows FNMA requirements, and a post-close VVOE was obtained prior to delivery of the loan. The most current paystub was provided to verify employment prior to closing. Reviewer Comment (2025-05-05): ATR requirements requires employment to be verified prior to closing, exception remains. Buyer Comment (2025-05-01): XXX guides do not speak to reverification process of employment. FNMA allows VVOE to be done post closing up to the time of delivery of loan. "Alternatively, lenders may obtain the verbal VOE after closing, up to the time of loan delivery. If the verbal VOE (or allowable alternative) cannot be obtained prior to delivery, the loan is ineligible for sale to Fannie Mae."  [Redacted] guides follow this same rule allowing it post close up to the time of delivery. Please review. Reviewer Comment (2025-04-30): The VVOE/email provided is dated [Redacted]days post-close, which is not the requirement. Please provide the VVOE dated no more than [Redacted]business days prior to the Note. Buyer Comment (2025-04-28): See docs provided

05/05/2025

1

B

A

C

A

B

A

C

A

B

A

CA

Primary

Purchase

Lender to provide updated ATR/QM status

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

570888222

33484043

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - W-2

Ability to Repay (Dodd-Frank 2014): Unable to verify current [Redacted] employment status using reasonably reliable third-party records.

Missing vvoe dated within 10 business days prior to the Note for employment with the [Redacted] XXX.

Reviewer Comment (2025-05-05): The Lender follows FNMA requirements, and a post-close VVOE was obtained prior to delivery of the loan. The most current paystub was provided to verify employment prior to closing. Reviewer Comment (2025-05-05): ATR requirements requires employment to be verified prior to closing, exception remains. Buyer Comment (2025-05-01): XXX guides do not speak to reverification process of employment. FNMA allows VVOE to be done post closing up to the time of delivery of loan. "Alternatively, lenders may obtain the verbal VOE after closing, up to the time of loan delivery. If the verbal VOE (or allowable alternative) cannot be obtained prior to delivery, the loan is ineligible for sale to Fannie Mae."  [Redacted] guides follow this same rule allowing it post close up to the time of delivery. Please review. Reviewer Comment (2025-04-30): The VVOE/email provided is dated [Redacted]days post-close, which is not the requirement. Please provide the VVOE dated no more than [Redacted]business days prior to the Note. Buyer Comment (2025-04-28): See docs provided

05/05/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

570888222

33484046

Credit

Income / Employment

Income Documentation

Income / Employment

The verification of employment is required and was not found in file.

-

Missing vvoe dated within 10 business days prior to the Note for employment with the [Redacted] XXX.

Reviewer Comment (2025-04-30): Received and Associated VVOE document for XXX. Exception cleared. Buyer Comment (2025-04-28): See docs provided

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

560098274

33484077

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exception for Master Insurance expiration date of [Redacted]. Approval in file.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum.

$[Redacted] residual income LTV/CLTV is [Redacted]% below guideline max. LTV/CLTV is [Redacted]% below guideline max. DTI is [Redacted]% below guideline max.

SitusAMC Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-23): Lender exception in file.

04/23/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Second Home

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

560098274

33484081

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-05-08): Additional assets provided, exception cleared. Buyer Comment (2025-05-08): 1st Qtr [Redacted]retirement 401K assets for [Redacted] Buyer Comment (2025-05-08): See Uploaded Asset documentation Reviewer Comment (2025-04-24): EXCEPTION HISTORY - Exception Explanation was updated on [Redacted] PRIOR Exception Explanation: Calculated PITIA months reserves of [Redacted]is less than Guideline PITIA months reserves of [Redacted].

05/08/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Second Home

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

560098274

33484082

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-05-08): Additional assets provided, exception cleared.

05/08/2025

1

B

A

C

A

B

A

C

A

B

A

NY

Second Home

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

560098274

33484083

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-05-08): Additional assets provided, exception cleared. Buyer Comment (2025-05-08): See uploaded Retirement Plan Buyer Comment (2025-05-08): Additional 401K assets for [Redacted] attached

05/08/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Second Home

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

560098274

33484084

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. No valid changed circumstance was provided. No cure was provided to the Borrower.

Reviewer Comment (2025-05-05): [Redacted]Received Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD. Buyer Comment (2025-05-02): PCCD, Refund LOX, Refund Check and Proof of Mailing

05/05/2025

2

C

B

C

B

C

B

C

B

C

B

NY

Second Home

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

546706989

33484090

Compliance

Compliance

Federal Compliance

Missing Disclosure

Notice of Special Flood Hazard Disclosure Not Provided Timely

FDPA Notification Rule: Creditor did not provide a Notice of Special Flood Hazard Disclosure within a reasonable time prior to closing.

Creditor did not provide a Notice of Special Flood Hazard Disclosure within a reasonable time prior to closing.

Reviewer Comment (2025-05-06): Client believes a reasonable time was given. Reviewer Comment (2025-05-06): Please accept this level 2 exception as is. The flood cert was dated [Redacted], the Notice disclosure should have been provided sooner. Buyer Comment (2025-05-02): See docs provided

05/06/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Purchase

B

A

A

A

B

A

A

A

Non QM

Non QM

No

556413203

33484103

Compliance

Compliance

Federal Compliance

Missing Non-Required Data

Disbursement Date Missing Test

Disbursement Date Missing: Evidence of disbursement date not found in file. Note Interest Accrual Start Date of [Redacted] used as disbursement date for compliance testing.

Borrower Closing Disclosure not provided.

Reviewer Comment (2025-04-29): [Redacted]received CD. Buyer Comment (2025-04-25): See uploaded Initial CD Buyer Comment (2025-04-25): Initial CD

04/29/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

556413203

33484106

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Status Test

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided or Closing Disclosure not provided prior to closing. Any applicable Federal, State or Local compliance testing is unreliable or not performed. Loan is subject to high cost testing.

Borrower Closing Disclosure not provided.

Reviewer Comment (2025-04-29): [Redacted]received CD. Buyer Comment (2025-04-25): See uploaded Initial CD Buyer Comment (2025-04-25): Initial CD

04/29/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

556413203

33484108

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing evidence of receipt of the gift funds.

Reviewer Comment (2025-04-29): Evidence of receipt was provided. Buyer Comment (2025-04-25): See Uploaded Gift verification documentation and Wire confirmation. Buyer Comment (2025-04-25): Gift Wire verification Buyer Comment (2025-04-25): Gift Documentation

04/29/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

556413203

33484109

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure No Seller Paid Fees Primary Residence First Lien

TRID Final Closing Disclosure [Redacted] on a first lien purchase transaction did not disclose any Seller paid fees/charges on page 2.

Please provide Seller CD for review.

Reviewer Comment (2025-04-30): [Redacted]received Final settlement statement and seller fees Reviewer Comment (2025-04-30): Provided documentation does not sufficiently describe seller fees at closing.  Provided closing statements are pre-closing [Redacted] date [Redacted]. the post closing [Redacted] shows only borrower fees.  Please provide final seller CD, or signed dated [Redacted] showing seller fees for review. Buyer Comment (2025-04-29): Final CD uploaded for review Buyer Comment (2025-04-29): Settlement Statement w/$[Redacted]Seller credit

04/30/2025

1

A

A

A

A

A

CA

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

508940571

33484119

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Verification Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-24): Sufficient Cure Provided At Closing

04/24/2025

1

A

A

A

A

A

A

A

A

A

A

MI

Second Home

Purchase

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

Yes

514723039

33484123

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Loan Estimate Timing Electronically Provided

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application.

Loan Estimate not delivered or placed in the mail to Borrower within three business days of application.

Reviewer Comment (2025-04-30): [Redacted]received initial LE dated [Redacted]. Buyer Comment (2025-04-29): See docs provided

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

514723039

33484124

Compliance

Compliance

Federal Compliance

TILA

ARM Disclosure Timing Test

TIL variable rate disclosure: ARM loan program disclosure not provided to the borrower within three (3) days of application.

ARM loan program disclosure not provided to the borrower within three days of application.

Reviewer Comment (2025-05-08): The ARM Disclosure dated at the initial application was provided. Buyer Comment (2025-05-06): See docs provided Reviewer Comment (2025-04-30): The same ARM Disclosure dated [Redacted] was provided, which was already in the file. The loan started as an ARM, so the ARM Disclosure should have gone out within [Redacted] days of the application date of [Redacted]. Buyer Comment (2025-04-29): See docs provided

05/08/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

No Defined Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

514723039

33484125

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted]plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-04-30): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception. Buyer Comment (2025-04-29): See docs provided

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

514723039

33484126

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted]plus [Redacted]% or $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-30): Sufficient Cure Provided At Closing

04/30/2025

1

A

A

A

A

A

NY

Primary

Purchase

Final CD evidences Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

586401891

33484154

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Reviewer Comment (2025-05-15): Received and associated Business narrative document for [Redacted] Multi-Service. Exception Cleared. Buyer Comment (2025-05-14): See docs provided

05/15/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

586401891

33484158

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Transfer Tax Fee was last disclosed as $[Redacted] on LE but disclosed as $[Redacted] on Final Closing Disclosure.  File does not contain a valid COC for this fee, nor evidence of cure in file.

Reviewer Comment (2025-05-14): [Redacted]received valid COC dated [Redacted] Buyer Comment (2025-05-13): See docs provided

05/14/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

548420303

33484313

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception approved for condotel unit with [Redacted]% investor concentration.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[Redacted]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

[Redacted] months reserves. LTV is [Redacted]% below guideline max. Fico is [Redacted] points above guideline minimum.

Originator,SitusAMC SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-25): Lender exception in file.

04/25/2025

2

B

B

B

B

B

B

B

B

B

B

UT

Investment

Purchase

B

B

B

B

A

A

N/A

No

582514457

33484314

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

Reviewer Comment (2025-05-06): Received and associated Business Purpose Certificate. Exception Cleared. Buyer Comment (2025-05-05): Business purpose & occupancy affidavit Reviewer Comment (2025-04-29): Received Occupancy Certificate but required Business Purpose Certificate. Exception Remains. Buyer Comment (2025-04-25): See Uploaded Occupancy and Financial Status Affidavit

05/06/2025

1

C

A

C

A

C

A

C

A

C

A

UT

Investment

Purchase

C

B

C

B

A

A

N/A

No

582514457

33484316

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exception for condotel without bedroom. Approval in file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

[Redacted] months reserves LTV is [Redacted]% below guideline max. Fico is [Redacted] points above guideline minimum.

Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-25): Lender exception in file.

04/25/2025

2

B

B

B

B

B

B

B

B

B

B

UT

Investment

Purchase

C

B

C

B

A

A

N/A

No

517534781

33484317

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception for vesting in the name of a new entity. Approval in file.

Borrower has owned the subject property for at least [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least [Redacted] months. The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .[Redacted]. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

[Redacted] months reserves. LTV is [Redacted]% below guideline max.

SitusAMC Aggregator,SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-25): Lender exception in file.

04/25/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

517534781

33484318

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing rent free letter from owner of borrower's primary residence.

Reviewer Comment (2025-04-29): A rent-free letter was provided. Buyer Comment (2025-04-25): See Uploaded Rent free letter Buyer Comment (2025-04-25): Rent Free Letter

04/29/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

517534781

33484319

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Per guidelines, borrowers who live rent free must provide evidence of ownership AND rental (landlord) history for at least [Redacted] months in last [Redacted] years.

Reviewer Comment (2025-05-13): A Drive report reflecting investor experience was provided, and acceptable per the guidelines. Reviewer Comment (2025-05-12): Agree, however the borrower lives rent free so the guidelines require the following: Non-first-time investors who are living rent free must provide proof of a [Redacted]-month ownership and rental history on an REO property. Buyer Comment (2025-05-08): Underwriter validated that the borrower has owned and managed 2 separate investment properties reflected on the attached DRIVE report for over [Redacted]years at [Redacted] and the multi-unit subject property.  Investors must have a history of owning and managing commercial or residential real estate in the United States for at least [Redacted] months prior to note date in the last [Redacted] years. Experience can be documented by a letter of explanation (LOE) by borrower/guarantor detailing relevant real estate experience supported by a property profile report or other 3rd party documentation. Reviewer Comment (2025-05-07): The ownership has been documented, however because borrower is living rent free, the guidelines require proof of at least [Redacted]months rental history in the last 3 years. Is there a prior lease, Sch E, etc. to show borrower has been receiving rental income for at least 12 months? Buyer Comment (2025-05-05): See uploaded evidence of ownership Reviewer Comment (2025-04-29): Non-first-time investors who are living rent-free must provide proof of a [Redacted]-month ownership and rental history on an REO property. Buyer Comment (2025-04-25): See Uploaded Rent free letter Buyer Comment (2025-04-25): Rent Free Letter

05/13/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

551637300

33484323

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Borrower has claimed no primary residnetial expense. A Rent Free Letter was not provided.

Reviewer Comment (2025-04-30): A rent-free letter was provided. Buyer Comment (2025-04-28): See Uploaded Rent Free Letter Buyer Comment (2025-04-28): Rent Free Letter

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

GA

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

584113688

33484325

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

Reviewer Comment (2025-05-06): Received and associated Business Purpose Certificate. Exception Cleared. Buyer Comment (2025-05-02): See business purpose certificate

05/06/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

529653148

33484329

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exception to close in an entity established less than [Redacted] days. Approval in file.

The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

FICO [Redacted]

SitusAMC,Aggregator SitusAMC SitusAMC

Reviewer Comment (2025-05-01): The client elects to waive.

05/01/2025

2

B

B

B

B

B

B

B

B

B

B

NJ

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

565453857

33523598

Credit

Hazard Insurance

Insufficient Coverage

Hazard Insurance

The Hazard Insurance Policy effective date is after the funds disbursed.

The Hazard Insurance Policy Effective Date is after the disbursement date. Hazard Insurance Policy Effective Date [Redacted]; Disbursement Date: [Redacted];

Reviewer Comment (2025-02-20): The Hazard Insurance Policy with effective date [Redacted]was provided in the initial package. Exception Cleared. Buyer Comment (2025-02-19): There are [Redacted]State Farm policies that were provided in the initial shipping package, the first dated [Redacted]thru [Redacted] Doc ID [Redacted]and the renewal policy dated [Redacted] thru [Redacted] Doc ID [Redacted].

02/20/2025

1

C

A

C

A

C

A

C

A

C

A

OR

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

572172774

33523607

Credit

Credit

Credit Documentation

Credit

No evidence of fraud report in file

-

Fraud report is not provided in the file.

Reviewer Comment (2025-03-25): Fraud report provided. Reviewer Comment (2025-03-25): Fraud Guard search under doc ID [Redacted]reflects [Redacted] only in being Submitted Data, however required complete Fraud Guard search for J[Redacted]. Exception Remains Buyer Comment (2025-03-25): FraudGuard search under doc ID [Redacted]reflects[Redacted] being included under Submitted Data within the search and contains search results throughout the report.

03/25/2025

1

C

A

C

A

C

A

C

A

C

A

IN

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

572172774

33523609

Credit

Credit

Credit Documentation

Missing Document

Missing Document: Credit Report not provided

Credit report for [Redacted] is not located in the file.

Reviewer Comment (2025-05-05): Cleared. Received credit report in trailing documents. Buyer Comment (2025-05-05): Credit report for [Redacted]uploaded for review.

05/05/2025

1

A

A

A

A

A

IN

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

532021191

33523615

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception: FTI minimum FICO [Redacted]/current FICO [Redacted] .

The qualifying DSCR on the loan is greater than the guideline minimum. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted].

The DSCR is greater than the minimum required DSCR of [Redacted]

SitusAMC,Aggregator SitusAMC

Reviewer Comment (2025-03-27): Client elects to waive with comp factors.

03/27/2025

2

B

B

B

B

B

FL

Investment

Purchase

A

B

A

B

A

A

N/A

No

576222827

33523618

Credit

Credit

Credit Documentation

Credit

Missing Document: OFAC not provided

The OFAC search results for the borrowing entity were not located in the file.

Reviewer Comment (2025-04-04): OFAC for borrowing entity is received. Exception cleared. Buyer Comment (2025-04-04): Entity OFAC uploaded for review.

04/04/2025

1

C

A

C

A

C

A

C

A

C

A

PA

Investment

Purchase

C

A

C

A

A

A

N/A

No

593689491

33523634

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Exception on Condo master policy- Agent verified that the perils are covered under special form but there is no information Guard, Equipment Breakdown, or Building Ordinance which is required. Exception is approved.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Reserves: [Redacted] Guideline Requirement: 6.00 Guidelines Representative FICO: 700 Representative FICO: [Redacted]

Aggregator,SitusAMC Aggregator,SitusAMC

Reviewer Comment (2025-04-07): Client elects to waive with compensating factors.

04/07/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

570715414

33523636

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

Hazard Insurance Policy is missing.

Reviewer Comment (2025-04-10): Received hazard insurance policy and replacement cost estimator. Exception cleared. Buyer Comment (2025-04-09): Submitted HOI with RCE for review. Reviewer Comment (2025-04-09): Replacement cost provided , Exception remains Buyer Comment (2025-04-08): Submitted HOI for review.

04/10/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

595584178

33523640

Credit

Title

Document Error

Title

The Preliminary title policy is within CA or NV and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The preliminary title report in file disclosed an amount of title insurance coverage that is less than the loan amount.  Provide a copy of the final title policy or an addendum to the preliminary report verifying title insurance of at least the loan amount.

Reviewer Comment (2025-04-10): Updated the Coverage amount as per supplement report received in initial shipping package. Exception Cleared. Buyer Comment (2025-04-09): Title Supplement with correct loan amount was included in the initial shipping package and is located in your portal under doc ID [Redacted].

04/10/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Investment

Purchase

B

A

B

A

A

A

N/A

No

565382390

33523643

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exception requested and approved for less than [Redacted] months rent loss insurance, required $[Redacted], policy insured $[Redacted], a difference of $[Redacted].

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Guidelines Representative FICO: 640 Representative FICO: [Redacted]

SitusAMC SitusAMC Aggregator,SitusAMC

Reviewer Comment (2025-04-10): client elects to waive with comp factors.

04/10/2025

2

B

B

B

B

B

B

B

B

B

B

TX

Investment

Purchase

B

B

B

B

A

A

N/A

No

555215528

33523647

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exception requested and approved to allow [Redacted]% LTV vs [Redacted]% maximum per matrix.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

SitusAMC SitusAMC

Reviewer Comment (2025-04-21): Preapproved exception

04/21/2025

2

B

B

B

B

B

B

B

B

B

B

IL

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

512784602

33523649

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Approved Lender Exception in file, however, details are cut off on document.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months.

Reserves: [Redacted] Guideline Requirement: 6.00

Aggregator,SitusAMC

Reviewer Comment (2025-04-02): Client elected to waive exceptions with compensating factors. Seller Comment (2025-03-28): [Redacted] 1008 with comp factors in notes.pdf (Unclassified) was uploaded Reviewer Comment (2025-03-26): Received Lender Exception for "property purchased [Redacted], property was not listed and seller provided financing".  However, the document does not state any compensating factors to waive the exception. Seller Comment (2025-03-21): If not what is needed please provide more detail. [Redacted]Exception Approval.pdf (Unclassified) was uploaded

04/02/2025

2

C

B

C

B

C

B

C

B

C

B

VA

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

589912918

33523651

Credit

Documents

Missing Document

Documents

File does not contain documentation from lender/seller confirming the condo is warrantable.

-

Reviewer Comment (2025-03-26): Received condo certificate. Exception cleared. Seller Comment (2025-03-25): see attached [Redacted]  Condo Cert. See notes.pdf (Unclassified) was uploaded

03/26/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

576127265

33523659

Credit

Credit

Credit Documentation

Credit

No evidence of fraud report in file

-

Fraud report is not provided in file.

Reviewer Comment (2025-04-01): Fraud report provided. Reviewer Comment (2025-03-28): Exception Remains - Required Fraud Report prior to note date with all red flag addressed, Provided document is not acceptable and it is post note dated. Seller Comment (2025-03-28): Background check attached Background check [Redacted].pdf (Credit Review Documentation) was uploaded

04/01/2025

1

C

A

C

A

C

A

C

A

C

A

DC

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

576127265

33523660

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Borrower's Experience/Track Record

Borrower has experience/ track record.

SitusAMC,Aggregator

Reviewer Comment (2025-04-04): Client elects to waive with comp factors. Buyer Comment (2025-04-01): [Redacted] approves document exception. Comp factors: DSCR Experienced investor Clean MTG history Reviewer Comment (2025-03-31): Background check for business is dated after close. Exception remains. Reviewer Comment (2025-03-28): Exception Remains - Required Fraud Report prior to note date with all red flag addressed, Provided document is not acceptable and it is post note dated. Seller Comment (2025-03-28): Background check attached Background - entity.pdf (Credit Review Documentation) was uploaded

04/04/2025

2

C

B

C

B

C

B

C

B

C

B

DC

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

576127265

33523661

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___.

For cash-out max LTV is [Redacted]% for credit score minimum credit score [Redacted]. Borrower's credit score is [Redacted] .

Borrower's Experience/Track Record

Borrower has experience/ track record.

SitusAMC,Aggregator

Reviewer Comment (2025-04-04): Client elects to waive with comp factors. Buyer Comment (2025-04-04): SG agrees to waive w/ comp factors DSCR Experienced Investor  Clean MTG history

04/04/2025

2

B

B

B

B

B

DC

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

595741287

33523666

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

A secondary valuation review product is not located in the file.

Reviewer Comment (2025-04-08): CDA received and associated. Exception cleared. Seller Comment (2025-04-07): CDA cda.pdf (Unclassified) was referenced

04/08/2025

1

D

A

D

A

D

A

D

A

D

A

NJ

Investment

Refinance - Cash-out - Other

D

A

A

A

D

A

N/A

No

581525728

33523677

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Exception Requested:  For allowing the use of a [Redacted]% expense factor with business bank statements and a [Redacted]% expense factor for personal bank statements for business income qualifying.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Guidelines Representative FICO: 680 Representative FICO: [Redacted]

SitusAMC SitusAMC SitusAMC Aggregator,SitusAMC

Reviewer Comment (2025-04-07): Client elects to waive with compensating factors.

04/07/2025

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

581525728

33523678

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exception requested and approved: Exception # 2 to allow [Redacted] of $[Redacted]from builder which exceeds the [Redacted]% maximum allowed. $[Redacted]equates to a [Redacted]% IPC.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Guidelines Representative FICO: 680 Representative FICO: [Redacted]

SitusAMC SitusAMC SitusAMC Aggregator,SitusAMC

Reviewer Comment (2025-04-07): Client elects to waive with compensating factors.

04/07/2025

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

593892298

33523680

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception request to allow delinquent taxes to be paid with cash-out proceeds is approved.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum.

DTI: [Redacted]% Guideline Maximum DTI: 50.00000%

SitusAMC SitusAMC SitusAMC SitusAMC Aggregator,SitusAMC

Reviewer Comment (2025-04-07): Client elects to waive.

04/07/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Refinance - Cash-out - Other

B

B

B

B

A

A

A

A

Non QM

Non QM

No

585368272

33523697

Compliance

Compliance

Federal Compliance

TRID

TRID Lender Credit Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $-[Redacted]exceeds tolerance of $-[Redacted]. Sufficient or excess cure was provided to the borrower at Closing.

Lender Credit of $-[Redacted]exceeds tolerance of $-[Redacted]. Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-07): Sufficient Cure Provided At Closing

04/07/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Purchase

A

A

A

A

A

A

A

A

Non QM

Non QM

No

569094138

33523703

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Verified qualifying Assets for Closing of  $[Redacted] is less than required Cash From Borrower in the amount of $[Redacted].

Reviewer Comment (2025-04-15): Received paid invoices for HOI and appraisal.Condition cleared. Seller Comment (2025-04-15): See attached Paid Receipt.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-15): The discrepancy is due to the POCs paid at closing. Please provide evidence the borrower paid the $[Redacted]appraisal fee and the HOI premium of $[Redacted]. This would clear the condition. Seller Comment (2025-04-10): Final CD Cash to close:          $[Redacted] ASSETS in file                 $[Redacted] Reserves                                           $0                                                          WIRED to Escrow        $[Redacted] EMD:                                                    $[Redacted]EMD:                                  $[Redacted]

04/15/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

582432894

33523708

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2025-04-14): Received e-consent. Condition cleared. Buyer Comment (2025-04-10): The SignNOW documentation for those events were provided in the initial shipping package, in your portal under the "Out of Scope" folder Doc ID's [Redacted], [Redacted]and [Redacted]. Reviewer Comment (2025-04-10): Some disclosures were e-signed for e.g. CD issued on [Redacted], e-sign consent document is required exception remains. Buyer Comment (2025-04-09): The consent is not required as the disclosures were not sent electronically as outlined in the tracking provided which denotes mailing event. Reviewer Comment (2025-04-09): E-sign Consent agreement require , Exception remains Buyer Comment (2025-04-09): The initial disclosures were not sent electronically rather via Encompass fulfillment (aka mailing) on [Redacted], tracking has been uploaded for review.

04/14/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

582432894

33523712

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Reviewer Comment (2025-04-14): Lender approved reserves at [Redacted] months minimum which is allowed with compensating factors. Condition cleared. Buyer Comment (2025-04-09): Updated 1008 uploaded for review denoting reserve variance with compensating factors per guidelines section [Redacted]last bullet point "A variance may be allowed but never less than [Redacted] months less than program requirements with underwriter justification and compensating factors".

04/14/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

582432894

33523713

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

reserve requirement not met

Reviewer Comment (2025-04-14): Lender approved reserves at [Redacted] months minimum which is allowed with compensating factors. Condition cleared. Buyer Comment (2025-04-09): Updated 1008 uploaded to trailing docs for review denoting reserve variance with compensating factors per guidelines section [Redacted]last bullet point "A variance may be allowed but never less than[Redacted]months less than program requirements with underwriter justification and compensating factors".

04/14/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

582432894

33523714

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Reviewer Comment (2025-04-14): Lender approved reserves at[Redacted] months minimum which is allowed with compensating factors. Condition cleared. Buyer Comment (2025-04-09): Updated 1008 uploaded to trailing docs for review denoting reserve variance with compensating factors per guidelines section [Redacted]last bullet point "A variance may be allowed but never less than[Redacted] months less than program requirements with underwriter justification and compensating factors".

04/14/2025

1

B

A

C

A

B

A

C

A

B

A

FL

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

No

512061895

33523723

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Provide HOA document for [Redacted], to verify $[Redacted] as per final 1003

Reviewer Comment (2025-04-11): HOA verified in Fraud Report. - Exception Cleared. Buyer Comment (2025-04-10): FraudGuard report page [Redacted]of [Redacted]under doc ID [Redacted]reflects HOA public record data for [Redacted]

04/11/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

A

A

A

A

Non QM

N/A

No

537297939

33523726

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

No evidence in file showing borrower received copy of appraisal.

Buyer Comment (2025-04-16): sgcp acknowledges and waives this non-material EV2 finding Seller Comment (2025-04-16): Appraisal acknowledgement section 2 [Redacted]Appraisal.pdf (Appraisal) was referenced Reviewer Comment (2025-04-16): Missing acknowledgment that borrower received the copy of appraisal report prior to closing or at closing, Borrower did waive [Redacted] business days requirement. Exception remains. Seller Comment (2025-04-15): Right to Appraisal ALL boxes checked and signed [Redacted].pdf (Unclassified) was referenced Reviewer Comment (2025-04-14): Exception Remains - In the received receive a copy of the appraisal document the option is not checked. Provide the receive a copy of the appraisal selecting any 1 option and signed and dated at or before closing. Seller Comment (2025-04-14): uploaded Right to Appraisal.pdf (Appraisal) was referenced

04/16/2025

2

B

B

B

B

B

B

B

B

B

B

SC

Investment

Purchase

B

B

A

A

B

B

A

A

N/A

N/A

No

595854288

33523727

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

Title Policy Amount of $[Redacted] is less than the note amount of $[Redacted]

Reviewer Comment (2025-04-22): Updated title policy received, Exception cleared. Buyer Comment (2025-04-21): Submitted updated Title with correct loan amount for review.

04/22/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

595854288

33523728

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Title final is missing on file

Reviewer Comment (2025-04-22): Updated title policy received, Exception cleared.

04/22/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

595854288

33523729

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Lease Agreement and Tax Verification for Property [Redacted] are not located in the file.

Reviewer Comment (2025-04-16): Updated 1003 and 1008 received where property [Redacted] has been removed from the REO Schedule. Buyer Comment (2025-04-16): Submitted updated 1003 and 1008 for review. [Redacted]  does not exist and has been removed from the REO Schedule.

04/16/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

595854288

33523730

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Lease Agreement and Tax Verification for Property [Redacted] are not located in the file.

Reviewer Comment (2025-04-16): Updated 1003 and 1008 received where property[Redacted] has been removed from the REO Schedule. Buyer Comment (2025-04-16): Submitted updated 1003 and 1008. Property at [Redacted] does not exist and has been removed from the REO Schedule.

04/16/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

595854288

33523731

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Lease Agreement and Tax Verification for Property [Redacted] are not located in the file.

Reviewer Comment (2025-04-16): Updated 1003 and 1008 received where property [Redacted] has been removed from the REO Schedule. Buyer Comment (2025-04-16): Submitted updated 1003 and 1008. Property at [Redacted] does not exist and has been removed from the REO Schedule.

04/16/2025

1

B

A

C

A

B

A

C

A

B

A

CA

Primary

Purchase

Lender to provide updated ATR/QM status

C

A

C

A

C

A

A

A

Non QM

Non QM

No

595854288

33523732

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - REO 25% Method

Ability to Repay (Dodd-Frank 2014): Unable to verify Real Estate Owned income ([Redacted]% Method) using reasonably reliable third-party records.

Lease Agreement and Tax Verification for Property [Redacted] are not located in the file.

Reviewer Comment (2025-04-16): Updated 1003 and 1008 received where property [Redacted] has been removed from the REO Schedule. Buyer Comment (2025-04-16): Submitted updated 1003 and 1008. Property at [Redacted] does not exist and has been removed from the REO Schedule.

04/16/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

595854288

33523733

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Lease Agreement, Tax Verification for Property [Redacted] on file

Reviewer Comment (2025-04-16): Updated 1003 and 1008 received where property [Redacted] has been removed from the REO Schedule. Buyer Comment (2025-04-16): Submitted updated 1003 and 1008. Property at [Redacted] does not exist and has been removed from the REO Schedule.

04/16/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

595854288

33523734

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

Lease Agreement, Tax Verification for Property [Redacted] on file

Reviewer Comment (2025-04-16): Updated 1003 and 1008 received where property [Redacted] has been removed from the REO Schedule.

04/16/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

595854288

33523736

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Lease Agreement, Tax Verification for Property [Redacted] on file

Reviewer Comment (2025-04-16): Updated 1003 and 1008 received where property [Redacted] has been removed from the REO Schedule. Buyer Comment (2025-04-16): Submitted updated 1003 and 1008. Property at [Redacted] does not exist and has been removed from the REO Schedule.

04/16/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

577600964

33523740

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Credit Report fee amount of $[Redacted]exceeds tolerance of $[Redacted]. Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-10): Sufficient Cure Provided At Closing

04/10/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

No

539661201

33523749

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan designation failure due to ATR failure. Per guideline required business narrative was not provided. This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2025-04-18): Business Narrative received and verified. Exception cleared. Buyer Comment (2025-04-17): Submitted business Narrative for review.

04/18/2025

1

B

A

C

A

B

A

C

A

B

A

FL

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

No

539661201

33523750

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Loan designation failure due to ATR failure. Per guideline required business narrative was not provided. This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2025-04-18): Business Narrative received and verified. Exception cleared. Buyer Comment (2025-04-17): Submitted business Narrative for review.

04/18/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

539661201

33523751

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Per guideline required business narrative was not provided. This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2025-04-18): Business Narrative received and verified. Exception cleared. Buyer Comment (2025-04-17): Submitted business Narrative for review.

04/18/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

539661201

33523752

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Borrower must provide a business narrative which includes detail related to the size/scope and operating per guideline.

Reviewer Comment (2025-04-18): Business Narrative received and verified. Exception cleared. Buyer Comment (2025-04-17): Submitted business Narrative for review.

04/18/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

539661201

33523753

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Loan designation failure due to ATR failure. Per guideline required business narrative was not provided. This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2025-04-18): Business Narrative received and verified. Exception cleared. Buyer Comment (2025-04-17): Submitted business Narrative for review.

04/18/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

535390728

33523759

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

Appraisal report dated [Redacted] missing evidence of receipt.

Buyer Comment (2025-04-21): EV2 acknowledged.

04/21/2025

2

B

B

B

B

B

B

B

B

B

B

TX

Primary

Purchase

B

B

A

A

B

B

A

A

Non QM

Non QM

No

515452873

33523765

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Waiver Less than 3 Days From Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Borrower provided appraisal waiver less than three (3) business days prior to consummation.

Appraisal dated [Redacted] is missing evidence of actual receipt/Download at least 3 business days prior to closing.

Buyer Comment (2025-04-22): EV2 acknowledged.

04/22/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Investment

Purchase

B

B

A

A

B

B

A

A

N/A

N/A

No

550179274

33523772

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Tax verification for [Redacted] missing.

Reviewer Comment (2025-04-22): Tax amount is already provided on the Fraud Report. Exception cleared. Buyer Comment (2025-04-21): Per the FraudGuard report Doc ID D0340 the property located at [Redacted] is vacant land, the taxes noted per this report were utilized in the DTI calculation page 413.

04/22/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

525251039

33523777

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Credit report fee amount of $[Redacted] exceeds tolerance of $[Redacted] . Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-17): Sufficient Cure Provided At Closing

04/17/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Purchase

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

No

503137279

33523779

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Credit report fee amount of $[Redacted] exceeds tolerance of $[Redacted]. Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-18): Sufficient Cure Provided At Closing

04/18/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Purchase

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

No

597494712

33523781

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

Reviewer Comment (2025-03-28): Exception cleared. Received FNMA UCDP report with CU score as 1 and updated correctly. Buyer Comment (2025-03-26): Secondary valuation was included in the initial shipping package and is located in your portal under doc ID D0332.

03/28/2025

1

D

A

D

A

D

A

D

A

D

A

CA

Primary

Purchase

D

A

C

A

C

A

D

A

Non QM

Non QM

No

597494712

33523785

Credit

Insurance

Insurance Analysis

Insurance

The Flood Insurance Policy effective date is after the Note Date.

Flood Insurance Policy Effective Date ___, Note Date ___

Reviewer Comment (2025-03-27): Flood insurance policy effective date is [Redacted] which is same as disbursement date as per final closing disclosure. Exception cleared. Buyer Comment (2025-03-26): Final Closing Disclosure under doc ID D0439 reflects a disbursement date of [Redacted] which corresponds to the Flood Insurance effective date of [Redacted].

03/27/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

D

A

C

A

C

A

D

A

Non QM

Non QM

No

597494712

33523786

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

File is missing [Redacted] of the [Redacted] months bank statements for account ending in [Redacted] used for qualifying.  Months of [Redacted] - [Redacted] [Redacted]are missing.

Reviewer Comment (2025-03-28): Bank Statements received and verified. Exception cleared. Buyer Comment (2025-03-27): Submitted [Redacted] business assets #[Redacted] for [Redacted] [Redacted] through [Redacted] [Redacted] for review.

03/28/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

D

A

C

A

C

A

D

A

Non QM

Non QM

No

597494712

33523787

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Waterfall finding due to missing bank statements for income calculations, resulting in a loan designation discrepancy.

Reviewer Comment (2025-03-28): Bank Statements received and verified.Exception Cleared Buyer Comment (2025-03-27): Submitted [Redacted] business assets #[Redacted] for [Redacted] [Redacted] through [Redacted] [Redacted] for review.

03/28/2025

1

B

A

C

A

B

A

C

A

B

A

CA

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

D

A

C

A

C

A

D

A

Non QM

Non QM

No

597494712

33523788

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Waterfall finding due to missing bank statements for income calculations.

Reviewer Comment (2025-03-28): Bank Statements received and verified. Exception cleared. Buyer Comment (2025-03-27): Submitted [Redacted] business assets #[Redacted] for [Redacted] [Redacted] through [Redacted] [Redacted] for review.

03/28/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

D

A

C

A

C

A

D

A

Non QM

Non QM

No

597494712

33523789

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Waterfall finding due to missing bank statements for income calculations.

Reviewer Comment (2025-03-28): Bank Statements received and verified. Exception Cleared Buyer Comment (2025-03-27): Submitted [Redacted] business assets #[Redacted] for [Redacted] [Redacted] through [Redacted] [Redacted] for review.

03/28/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

D

A

C

A

C

A

D

A

Non QM

Non QM

No

540269767

33523797

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA Rescission - Disbursement Date Less than 3 Business Days From Transaction Date

Truth in Lending Act:  Subject loan transaction disbursed on [Redacted], prior to three (3) business days from transaction date of [Redacted].

Signature date on closing documents is [Redacted] and final CD reflects disbursement date of [Redacted].

Reviewer Comment (2025-04-07): Post Closing Disclosure received and verified. Exception cleared. Buyer Comment (2025-04-04): PCCD documentation uploaded for review.

04/07/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

A

A

A

C

A

A

A

Non QM

Non QM

No

530062363

33523801

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

1003/Declarations:  F. Are you a co-signer or guarantor on any debt or loan that is not disclosed on this application? reflects Yes.  Missing  documented and/or does not meet guideline requirements.

-

The loan application indicates borrower is a co-signer or guarantor of a debt that is not disclosed for this transaction.

Reviewer Comment (2025-04-01): Updated 1003 received and verified. Exception cleared Buyer Comment (2025-03-31): Submitted updated 1003 for Ryan for review.

04/01/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Second Home

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

530062363

33523804

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability to Repay - Bank Statement Guidelines Require Less than 12 Months

Ability to Repay (Dodd-Frank 2014): Guidelines require less than 12 consecutive months bank statements.

Reviewer Comment (2025-03-31): 12 months bank statement located in the file. Reviewer Comment (2025-03-31): Provie a Bank Statement for the account #[Redacted] with [Redacted] and [Redacted] [Redacted] statement. Provided [Redacted]-year bank Statements. Exception remains Buyer Comment (2025-03-28): Full 12 months of [Redacted] #[Redacted] business stmts were included in the initial shipping package and are in your portal under doc IDs D0504, D0505, D0506, D0508, D0509, D510, D0511, D0513, D0515, D0518, D0520, and D0521. Analysis covers [Redacted] [Redacted] through [Redacted] [Redacted] since the overall income analysis used in qualifying involves more than one account.

03/31/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Second Home

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

530062363

33523806

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-03-26): Sufficient Cure Provided At Closing

03/26/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Second Home

Purchase

Final CD evidences Cure

C

A

C

A

C

A

A

A

Non QM

Non QM

No

530062363

33523807

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan Designation failure is due to missing [Redacted] of [Redacted] months bank statements used for qualifying income.

Reviewer Comment (2025-03-31): 12 months bank statement located in the file. Reviewer Comment (2025-03-31): Provie a Bank Statement for the account #[Redacted] with [Redacted] and [Redacted] [Redacted] statement. Provided [Redacted]-year bank Statements. Exception remains Buyer Comment (2025-03-28): Full 12 months of [Redacted] #[Redacted] business stmts were included in the initial shipping package and are in your portal under doc IDs D0504, D0505, D0506, D0508, D0509, D510, D0511, D0513, D0515, D0518, D0520, and D0521. Analysis covers April 2024 through March 2025 since the overall income analysis used in qualifying involves more than one account.

03/31/2025

1

B

A

C

A

B

A

C

A

B

A

CA

Second Home

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

No

576044790

33523813

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

ATR risk due to missing asset documentation: [Redacted] months reserves not provided in file.

Reviewer Comment (2025-04-14): POC appraisal invoice received, Exception Cleared. Seller Comment (2025-04-11): see attached Appraisal Invoice requested. [Redacted] Appraisal Invoice.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-11): Calculations are correct, the discrepancy is due to $[Redacted] Appraisal POC fee is not documented. Please provide evidence of $[Redacted] Appraisal fee paid from borrower's own funds. Seller Comment (2025-04-09): Our original calculation on the 1008 is correct. theirs is not. I attached the document to show my calculation: the final CD with $[Redacted] needed, the two bank statements for total of $[Redacted] which leaves $[Redacted] or [Redacted]. Bank stmt and CD showing correct reserves.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-08): Required reserves $[Redacted]. Funds available for reserves $[Redacted]. Funds to close: $[Redacted], EMD $[Redacted], POC $[Redacted] totaling $[Redacted]. Funds available for closing: $[Redacted] which leaves $[Redacted]. Seller Comment (2025-04-04): Added comments to the 1008 for a breakdown of cash needed to close and cash verified which leaves just a little >6 mos in reserves. If don't agree Please provide your reserve calculation [Redacted] 1008 notes added.pdf (Unclassified) was uploaded

04/14/2025

1

B

A

C

A

B

A

C

A

B

A

FL

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

A

C

B

A

A

Non QM

Non QM

No

576044790

33523815

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

ATR risk due to missing asset documentation: [Redacted] months reserves not provided in file.

Reviewer Comment (2025-04-14): POC appraisal invoice received, Exception Cleared. Seller Comment (2025-04-11): see attached Appraisal Invoice requested. XXX Appraisal Invoice.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-11): Calculations are correct, the discrepancy is due to $[Redacted] Appraisal POC fee is not documented. Please provide evidence of $[Redacted] Appraisal fee paid from borrower's own funds. Seller Comment (2025-04-09): Our original calculation on the 1008 is correct. theirs is not. I attached the document to show my calculation: the final CD with $[Redacted] needed, the two bank statements for total of $[Redacted] which leaves $[Redacted] or [Redacted]. Bank stmt and CD showing correct reserves.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-08): Required reserves $[Redacted]. Funds available for reserves $[Redacted]. Funds to close: $[Redacted], EMD $[Redacted], POC $[Redacted] totaling $[Redacted]. Funds available for closing: $[Redacted] which leaves $[Redacted]. Seller Comment (2025-04-04): Added comments to the 1008 for a breakdown of cash needed to close and cash verified which leaves just a little >6 mos in reserves. If don't agree Please provide your reserve calculation XXX 1008 notes added.pdf (Unclassified) was uploaded

04/14/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

576044790

33523816

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Survey Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Survey fee of $[Redacted] exceeds tolerance of $[Redacted] not disclosed on initial or final LE. No valid change in circumstance or cure for borrower provided.

Reviewer Comment (2025-04-07): [Redacted] received PCCD, LOE and payment history for principal reduction of cure Seller Comment (2025-04-04): see attached Pccd and payhistory for cure XXX PCCD with cure and Payhistory.pdf (Closing Disclosure) was uploaded

04/07/2025

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

No

576044790

33523817

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

[Redacted] months reserves not provided in file.

Reviewer Comment (2025-04-14): POC appraisal invoice received, Exception Cleared. Seller Comment (2025-04-11): see attached Appraisal Invoice requested. [Redacted] Appraisal Invoice.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-11): Calculations are correct, the discrepancy is due to $[Redacted] Appraisal POC fee is not documented. Please provide evidence of $[Redacted] Appraisal fee paid from borrower's own funds. Seller Comment (2025-04-09): Our original calculation on the 1008 is correct. theirs is not. I attached the document to show my calculation: the final CD with $[Redacted] needed, the two bank statements for total of $[Redacted] which leaves $[Redacted] or [Redacted]. Bank stmt and CD showing correct reserves.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-08): Required reserves $[Redacted]. Funds available for reserves $[Redacted]. Funds to close: $[Redacted], EMD $[Redacted], POC $[Redacted] totaling $[Redacted]. Funds available for closing: $[Redacted] which leaves $[Redacted]. A paid invoice showing the borrower paid the appraisal POC would clear condition. Seller Comment (2025-04-04): Added comments to the 1008 for a breakdown of cash needed to close and cash verified which leaves just a little >6 mos in reserves. If don't agree Please provide your reserve calculation [Redacted] 1008 notes added.pdf (Unclassified) was uploaded

04/14/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

576044790

33523818

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Verified months reserves of [Redacted] is less than guideline required months reserves of [Redacted] .

Reviewer Comment (2025-04-14): POC appraisal invoice received, Exception Cleared. Seller Comment (2025-04-11): see attached Appraisal Invoice requested. [Redacted] Appraisal Invoice.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-11): Calculations are correct, the discrepancy is due to $[Redacted] Appraisal POC fee is not documented. Please provide evidence of $[Redacted] Appraisal fee paid from borrower's own funds. Seller Comment (2025-04-09): Our original calculation on the 1008 is correct. theirs is not. I attached the document to show my calculation: the final CD with $[Redacted] needed, the two bank statements for total of $[Redacted] which leaves $[Redacted] or [Redacted]. Bank stmt and CD showing correct reserves.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-08): Required reserves $[Redacted]. Funds available for reserves $[Redacted]. Funds to close: $[Redacted], EMD $[Redacted], POC $[Redacted] totaling $[Redacted]. Funds available for closing: $[Redacted] which leaves $[Redacted]. A paid invoice showing the borrower paid the appraisal POC would clear condition. Seller Comment (2025-04-04): Added comments to the 1008 for a breakdown of cash needed to close and cash verified which leaves just a little >6 mos in reserves. If don't agree Please provide your reserve calculation [Redacted] 1008 notes added.pdf (Unclassified) was uploaded

04/14/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

576044790

33523819

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

ATR risk due to missing asset documentation: [Redacted] months reserves not provided in file.

Reviewer Comment (2025-04-14): POC appraisal invoice received, Exception Cleared. Seller Comment (2025-04-11): see attached Appraisal Invoice requested. [Redacted] Appraisal Invoice.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-11): Calculations are correct, the discrepancy is due to $[Redacted] Appraisal POC fee is not documented. Please provide evidence of $[Redacted] Appraisal fee paid from borrower's own funds. Seller Comment (2025-04-09): Bank stmt and CD showing correct reserves.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-08): Required reserves $[Redacted]. Funds available for reserves $[Redacted]. Funds to close: $[Redacted], EMD $[Redacted], POC $[Redacted] totaling $[Redacted]. Funds available for closing: $[Redacted] which leaves $[Redacted]. A paid invoice showing the borrower paid the appraisal POC would clear condition. Seller Comment (2025-04-04): Added comments to the 1008 for a breakdown of cash needed to close and cash verified which leaves just a little >6 mos in reserves. If don't agree Please provide your reserve calculation [Redacted] 1008 notes added.pdf (Unclassified) was uploaded

04/14/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

537555562

33523826

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

The VVOE for co-borrower is not located in the file.

Reviewer Comment (2025-04-02): VVOE is available. Buyer Comment (2025-04-01): The VVOE for B2 was provided in the initial shipping package which can be viewed under the YSP Disclosure folder Doc ID D0658 page 110.

04/02/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Rate/Term

C

A

C

A

C

A

A

A

Non QM

Non QM

No

537555562

33523829

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

ATR failure due to missing income documentation: VVOE for co-borrower not provided.

Reviewer Comment (2025-04-02): VVOE is available. Buyer Comment (2025-04-01): The VVOE for B2 was provided in the initial shipping package which can be viewed under the YSP Disclosure folder Doc ID D0658 page 110.

04/02/2025

1

B

A

C

A

B

A

C

A

B

A

CA

Primary

Refinance - Rate/Term

Lender to provide updated ATR/QM status

C

A

C

A

C

A

A

A

Non QM

Non QM

No

537555562

33523830

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - W-2

Ability to Repay (Dodd-Frank 2014): Unable to verify current Wages/W-2 employment status using reasonably reliable third-party records.

ATR failure due to missing income documentation: VVOE for co-borrower not provided.

Reviewer Comment (2025-04-02): VVOE is available. Buyer Comment (2025-04-01): The VVOE for B2 was provided in the initial shipping package which can be viewed under the YSP Disclosure folder Doc ID D0658 page 110.

04/02/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Rate/Term

C

A

C

A

C

A

A

A

Non QM

Non QM

No

537555562

33523832

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Interim Closing Disclosure Timing Irregular Transactions Test

TILA-RESPA Integrated Disclosure - Corrected Closing Disclosure provided on or after [Redacted] contains a change in loan product and was not received by borrower at least three (3) business days prior to consummation

Reviewer Comment (2025-04-02): Upon further review product disclosure is acceptable. Buyer Comment (2025-04-01): The change in the loan product occurred via COC Doc ID D0506, tied to the Loan Estimate under Doc ID D0544.  Timing requirements were met.

04/02/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Rate/Term

TRID timing exception, no remediation available.

C

A

C

A

C

A

A

A

Non QM

Non QM

No

537555562

33523834

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

ATR failure due to missing income documentation: VVOE for co-borrower not provided.

Reviewer Comment (2025-04-02): VVOE is available.

04/02/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Refinance - Rate/Term

C

A

C

A

C

A

A

A

Non QM

Non QM

No

537555562

33523835

Credit

Guideline

Guideline Issue

Guideline

Refi Purpose reflects Rate/Term and cash out greater than the lesser of 2% of the loan amount or $2000.

Cash to borrower in the amount of $[Redacted] does not meet guideline requirement. Limited cash to the borrower must not exceed the lesser of $[Redacted]or [Redacted]% of the loan amount.

Reviewer Comment (2025-04-08): Post Close CD received, Exception Cleared. Buyer Comment (2025-04-04): PCCD documentation uploaded for review.

04/08/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Rate/Term

C

A

C

A

C

A

A

A

Non QM

Non QM

No

537555562

33523836

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

ATR failure due to missing income documentation: VVOE for co-borrower not provided.

Reviewer Comment (2025-04-02): VVOE is available. Buyer Comment (2025-04-01): The VVOE for B2 was provided in the initial shipping package which can be viewed under the YSP Disclosure folder Doc ID D0658 page 110.

04/02/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Rate/Term

C

A

C

A

C

A

A

A

Non QM

Non QM

No

537555562

33523837

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

VVOE for co-borrower not provided.

Reviewer Comment (2025-04-02): VVOE is available. Buyer Comment (2025-04-01): The VVOE for B2 was provided in the initial shipping package which can be viewed under the YSP Disclosure folder Doc ID D0658 page 110.

04/02/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Rate/Term

C

A

C

A

C

A

A

A

Non QM

Non QM

No

537555562

33523838

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

ATR failure due to missing income documentation: VVOE for co-borrower not provided.

Reviewer Comment (2025-04-02): VVOE is available. Buyer Comment (2025-04-01): The VVOE for B2 was provided in the initial shipping package which can be viewed under the YSP Disclosure folder Doc ID D0658 page 110.

04/02/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Rate/Term

C

A

C

A

C

A

A

A

Non QM

Non QM

No

537555562

33523839

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-02): Sufficient Cure Provided At Closing

04/02/2025

1

A

A

A

A

A

CA

Primary

Refinance - Rate/Term

Final CD evidences Cure

C

A

C

A

C

A

A

A

Non QM

Non QM

No

590241191

33523848

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exceptions requested and approved for use of Asset Utilization income with a non-occupant co-borrower which is not allowed.

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Guidelines Representative FICO: 660 Representative FICO: [Redacted]

SitusAMC SitusAMC SitusAMC SitusAMC Aggregator,SitusAMC

Reviewer Comment (2025-04-02): Client elects to waive with comp factors.

04/02/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

515792012

33523854

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exception requested and approved for [Redacted]% LTV. Current LTV is limited to [Redacted]% for the P&L income documentation and appraisal notes values are declining which requires a [Redacted]% LTV reduction to [Redacted]% as floor.

The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months.

Guidelines Representative FICO: 660 Representative FICO: [Redacted] Reserves: [Redacted] Guideline Requirement: 6.00

Aggregator,SitusAMC Aggregator,SitusAMC

Reviewer Comment (2025-04-04): Client elects to down grade and waive using compensating factors: Guidelines Representative FICO: [Redacted] Representative FICO: [Redacted] Borrower Reserves: [Redacted] Guideline Requirement: [Redacted]

04/04/2025

2

B

B

B

B

B

B

B

B

B

B

UT

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

516993973

33523860

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-03): Sufficient Cure Provided At Closing

04/03/2025

1

A

A

A

A

A

A

A

A

A

A

GA

Primary

Purchase

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

No

583953288

33528047

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted]plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted]exceeds tolerance of $[Redacted]plus [Redacted]% or $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-05-16): [Redacted] received valid COC dated [Redacted] Buyer Comment (2025-05-15): See docs provided Reviewer Comment (2025-05-06): [Redacted] received CD dated [Redacted], however we require valid COC for increase of recording fee on CD dated [Redacted]. A valid Changed Circumstance with sufficient information why the recording fee increased, or cure is required.  Cure documents consist of PCCD, LOE, proof of mailing & copy of refund check. Buyer Comment (2025-05-05): See docs provided

05/16/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

583953288

33528048

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing complete [Redacted] month housing history.

Reviewer Comment (2025-05-15): Documentation provided; exception cleared. Buyer Comment (2025-05-13): See doc provided Reviewer Comment (2025-05-07): The docs provided do not verify number of lates or months reviewed, exception remains. Buyer Comment (2025-05-05): See docs provided

05/15/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

518718019

33528052

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Escrow Payment Over Disclosed Test

TILA-RESPA Integrated Disclosure - Projected Payments: Final Closing Disclosure provided on [Redacted] disclosed an escrow payment for payment stream 1 that does not match the actual payment for the loan.

Reviewer Comment (2025-05-06): [Redacted] received final CD.

05/06/2025

1

A

A

A

A

A

A

A

A

A

A

FL

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

518718019

33528053

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Loan Estimate Timing Electronically Provided

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered to Borrower(s) within three (3) business days of application. Initial Loan Estimate dated [Redacted] was electronically provided without or prior to borrower's consent to receive electronic disclosures. Failure to comply with the provisions of the E-Sign Act and failure to provide good faith estimate of fees timely may result in additional fee tolerance violations.

Initial Loan Estimate dated [Redacted] was electronically provided prior to borrower's consent to receive electronic disclosures.

Reviewer Comment (2025-05-09): [Redacted] received e-consent dated [Redacted] Buyer Comment (2025-05-08): Corrected ESign Consent Reviewer Comment (2025-05-06): The consumer went through the eConsent process on [Redacted], the consumer acknowledged the receipt of the LE on [Redacted]. But the loan application date was [Redacted]. In the event the consumer had not provided eConsent by [Redacted], then the lender should have sent the consumer the Loan Estimate through another means in accordance with the official interpretation reflected in Comment 19(e)(1)(iv)-2.  Provide proof borrower was sent Initial LE via other means than electronic delivery, as the e-consent was over 3 business days and acknowledged over 3 business days.  The LE would not have been provided electronically if borrower had not e-consented with the 3 business days after application. Buyer Comment (2025-05-05): See Uploaded E-consent dated 4/17

05/09/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

C

B

B

B

C

B

A

A

Non QM

Non QM

No

518718019

33528054

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

Notice of Right to Cancel Missing

Truth in Lending Act: Notice of Right to Cancel was not provided.

Reviewer Comment (2025-05-07): RTC provided. Buyer Comment (2025-05-05): See Uploaded Notice of Right to Cancel

05/07/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

518718019

33528055

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Amount Financed Test

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[Redacted] is over disclosed by $[Redacted] compared to the calculated Amount Financed of $[Redacted] and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate (fee amounts included in Amount Financed and Finance Charge calculations are based on Closing Disclosure dated [Redacted]).

Disclosed Amount Financed was $[Redacted]. Calculated amount Financed is $[Redacted]. Variance of $[Redacted].

Reviewer Comment (2025-05-06): [Redacted] received final CD. Buyer Comment (2025-05-05): See Uploaded Final CD

05/06/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

518718019

33528056

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Finance Charge

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted]disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan.  The disclosed Finance Charge in the amount of $[Redacted] is under disclosed by $[Redacted] compared to the calculated Finance Charge of $[Redacted]  which exceeds the $[Redacted] threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated [Redacted]).

Disclosed Finance Charge of $[Redacted]. Calculated Finance Charge of $[Redacted]. Variance of -$[Redacted].

Reviewer Comment (2025-05-06): [Redacted] received final CD. Buyer Comment (2025-05-05): See Uploaded Final CD

05/06/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission if Applicable

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

518718019

33528057

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Will Have Escrow -  Monthly Escrow Payment Overdisclosed Test

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on [Redacted] disclosed the Monthly Escrow Payment that does not match the actual escrow payment for the loan.

Final Closing Disclosure provided on [Redacted] disclosed the Monthly Escrow Payment that does not match the actual escrow payment for the loan.

Reviewer Comment (2025-05-06): [Redacted] received final CD.

05/06/2025

1

A

A

A

A

A

A

A

A

A

A

FL

Primary

Refinance - Cash-out - Other

Provide the following: Letter of Explanation notifying borrower or error and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

518718019

33528058

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.

The only Closing Disclosures in file are dated [Redacted] which was the same day as closing.

Reviewer Comment (2025-05-06): [Redacted] received initial CD. Buyer Comment (2025-05-05): See Uploaded Initial CD

05/06/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

No Defined Cure

C

B

B

B

C

B

A

A

Non QM

Non QM

No

518718019

33528059

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception for [Redacted] contingent on Maximum [Redacted] % DTI. Approval in file.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Exception approved with comp factors.

SitusAMC,Originator SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2025-05-01): Exception approval in file with comp factors cited of LTV, reserves and years on job.

05/01/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Refinance - Cash-out - Other

C

B

B

B

C

B

A

A

Non QM

Non QM

No

518718019

33528060

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Fee increased without VCC.

Reviewer Comment (2025-05-16): [Redacted] received Letter of Explanation, Proof of Delivery, Refund check & Corrected CD Reviewer Comment (2025-05-14): [Redacted] received PCCD, LOE & proof of mailing, however copy of refund check is provided for $[Redacted] and cure required is $[Redacted]. Please provide LOE, copy of check and proof of mailing for $[Redacted]. Buyer Comment (2025-05-13): See Uploaded PCCD, Proof of Mailing and Tracking Reciept Buyer Comment (2025-05-13): See uploaded refund check and refund LOX

05/16/2025

2

B

B

B

B

B

FL

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

518718019

33528061

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Processing Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Fee increased without VCC.

Reviewer Comment (2025-05-16): [Redacted] received Letter of Explanation, Proof of Delivery, Refund check & Corrected CD Reviewer Comment (2025-05-14): [Redacted] received PCCD, LOE & proof of mailing, however copy of refund check is provided for $[Redacted] and cure required is $[Redacted]. Please provide LOE, copy of check and proof of mailing for $[Redacted]. Buyer Comment (2025-05-13): See Uploaded PCCD, Proof of Mailing and Tracking Reciept Buyer Comment (2025-05-13): See uploaded refund check and refund LOX

05/16/2025

2

B

B

B

B

B

FL

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

518718019

33528062

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA Rescission - Disbursement Date Less than 3 Business Days From Transaction Date

Truth in Lending Act:  Subject loan transaction disbursed on [Redacted], prior to three (3) business days from transaction date of [Redacted].

The RTC was signed on same date as the expiration date. The RTC should have been signed on the transaction date of [Redacted].

Reviewer Comment (2025-05-20): RTC provided, exception cleared. Buyer Comment (2025-05-20): RTC signed [Redacted] which matches signed final CD [Redacted] Buyer Comment (2025-05-20): Please see attached final CD signed [Redacted] Reviewer Comment (2025-05-15): The final CD dated [Redacted] is not signed and dated by the borrower. The system calculated transaction date is [Redacted], which is same date as disbursement date, exception remains. Buyer Comment (2025-05-13): See Uploaded PCCD, Proof of Mailing and Tracking Reciept Buyer Comment (2025-05-13): See uploaded Notice of Right to Cancel

05/20/2025

1

A

A

A

A

A

FL

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

518718019

33528063

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA Notice of Right to Cancel Expiration Date Prior or equal to Disbursement Date

Truth in Lending Act:  Actual Date(s) on Notice of Right to Cancel occurs prior to expected date(s).

The RTC was signed on same date as the expiration date. The RTC should have been signed on the transaction date of [Redacted].

Reviewer Comment (2025-05-20): RTC provided, exception cleared. Buyer Comment (2025-05-20): RTC signed [Redacted] which matches signed final CD [Redacted] Buyer Comment (2025-05-20): Please see attached final CD that was executed at closing Reviewer Comment (2025-05-15): The final CD dated [Redacted] is not signed and dated by the borrower. The system calculated transaction date is [Redacted], which is same date as disbursement date, exception remains. Buyer Comment (2025-05-13): See uploaded Notice of Right to Cancel

05/20/2025

1

A

A

A

A

A

FL

Primary

Refinance - Cash-out - Other

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

B

B

B

C

B

A

A

Non QM

Non QM

Yes

514270380

33528066

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

VVOE document not Provided

Reviewer Comment (2025-05-14): Loan is NonQM. Reviewer Comment (2025-05-12): The vvoe is dated post close and pay stubs are more than 15 days prior to Note date. Provide voe dated prior to Note date or pay stubs dated within 15 days prior to Note date. Buyer Comment (2025-05-08): See uploaded VVOE

05/14/2025

1

B

A

C

A

B

A

C

A

B

A

IL

Primary

Purchase

Lender to provide updated ATR/QM status

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

514270380

33528067

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - W-2

Ability to Repay (Dodd-Frank 2014): Unable to verify current Wages/W-2 employment status using reasonably reliable third-party records.

VVOE document not Provided

Reviewer Comment (2025-05-14): VVOE dated after the Note date is allowed per client guidelines. Reviewer Comment (2025-05-12): The vvoe is dated post close and pay stubs are more than 15 days prior to Note date. Provide voe dated prior to Note date or pay stubs dated within 15 days prior to Note date. Buyer Comment (2025-05-08): See uploaded VVOE

05/14/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

514270380

33528069

Credit

Income / Employment

Income Documentation

Income / Employment

The verification of employment is required and was not found in file.

-

VVOE document not Provided

Reviewer Comment (2025-05-12): Documentation provided; exception cleared. Buyer Comment (2025-05-08): See uploaded VVOE

05/12/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

514270380

33528070

Credit

Income / Employment

Income Documentation

Income / Employment

Verification(s) of employment is not within 10 business days of the Note.

-

VVOE document not Provided

Reviewer Comment (2025-05-12): Documentation provided; exception cleared. Buyer Comment (2025-05-08): See uploaded VVOE

05/12/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

514270380

33528071

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception approved for tradelines.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

$[Redacted] residual income [Redacted] months reserves. LTV/CLTV is [Redacted]% below guideline max. LTV/CLTV is [Redacted]% below guideline max. DTI  is [Redacted]% below guideline max. Fico is [Redacted] points above guideline minimum.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-05-05): Lender exception in file. Buyer Comment (2025-05-02): See uploaded approved exception, Please Accept As-Is Buyer Comment (2025-05-02): Lender Exception Approved, Please accept As-Is

05/05/2025

2

C

B

C

B

C

B

C

B

C

B

IL

Primary

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

565144759

33528074

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Verification Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-05-07): Sufficient Cure Provided At Closing

05/07/2025

1

A

A

A

A

A

A

A

A

A

A

IL

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

Yes

565144759

33528075

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Lender's Title Insurance.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-05-07): Sufficient Cure Provided At Closing

05/07/2025

1

A

A

A

A

A

A

A

A

A

A

IL

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

Yes

533981969

33528086

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Missing a letter from a CPA that states the use of business funds for closing will not have a negative impact on the business.

Reviewer Comment (2025-05-16): A CPA stating the use of the business fund will not negatively effective the business was provided. Buyer Comment (2025-05-14): CPA letter for use of business funds and wire verification

05/16/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

546041536

33528097

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

The file is missing a copy of the Articles of Organization/Formation.

Reviewer Comment (2025-05-08): Received and associated Articles of Organization/Formation for [Redacted]. Exception Cleared. Buyer Comment (2025-05-06): Err Buyer Comment (2025-05-06): See Uploaded LLC filing and Resolution of Members Buyer Comment (2025-05-06): Borrower is a W2 Wage Earner employee Buyer Comment (2025-05-06): Borrower is a W2 employee

05/08/2025

1

C

A

C

A

C

A

C

A

C

A

NV

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

595618310

33528110

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

PPP waived, lender exception provided.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

[Redacted] months reserves LTV is [Redacted]% below guideline max. Fico is [Redacted] points above guideline minimum.

Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-05-13): Lender exception in file.

05/13/2025

2

B

B

B

B

B

B

B

B

B

B

TX

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

595618310

33528111

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing 12 month pay history for subject property.

Reviewer Comment (2025-05-20): Documentation provided; exception cleared. Buyer Comment (2025-05-16): See Uploaded VOM

05/20/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

556472567

33528112

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

The file was missing Business Purpose Certificate.

Reviewer Comment (2025-05-22): Received and associated Business Purpose Certificate. Exception Cleared. Buyer Comment (2025-05-21): Business purpose

05/22/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

570145764

33640277

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception approved to allow actual cash value on master insurance versus replacement cost value.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

$[Redacted] residual income [Redacted] months reserves LTV/CLTV is [Redacted]% below guideline max. LTV/CLTV is [Redacted]% below guideline max. Fico is [Redacted] points above guideline minimum.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-06-12): Lender exception in file.

06/12/2025

2

B

B

B

B

B

B

B

B

B

B

TX

Investment

Purchase

C

B

C

B

A

A

A

A

N/A

No

570145764

33641237

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing LOE for gap in employment more than [Redacted] days.

Reviewer Comment (2025-07-01): Documentation provided, exception cleared. Seller Comment (2025-06-27): Attached LOE for the gap in employment more than 90 days.

07/01/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

B

C

B

A

A

A

A

N/A

No

564446847

33614277

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal was made "subject to" and Form 1004D/442 was not provided.

-

[Redacted] Completion report is missing.

Reviewer Comment (2025-05-04): Cleared. 442 and septic tank inspection are provided. Buyer Comment (2025-04-30): The 1004D was completed on [Redacted], the subsequent inspection was completed by [Redacted] Department of Environmental Quality ([Redacted]) which reflects that the "New [Redacted] tank was installed, tank is traffic rated with concrete grade rings and steel manhole covers, and complete leach field repair and inlet line was repaired and new clean out was installed".  This document was provided in the trailing docs ID D0479 page 497 dated [Redacted]. Reviewer Comment (2025-04-30): Provided 442 completion report which verified that septic installation is not completed. Provide revise 442 report with all the pending work completed. Exception remains. Buyer Comment (2025-04-28): 1004D and Septic Inspection Report uploaded for review.

05/04/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

A

A

C

A

N/A

No

522201128

33614280

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

File is missing evidence of the cash out proceeds from the refinance

Reviewer Comment (2025-04-28): Received closing statement showing cash out funds from a different property which meets cash from borrower requirement. Exception cleared. Buyer Comment (2025-04-24): Submitted Final [Redacted] from [Redacted] as source of funds for review.

04/28/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Purchase

C

A

C

A

A

A

N/A

No

522201128

33614281

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Reviewer Comment (2025-04-28): Received closing statement showing cash out funds from a different property which meets reserve requirement. Exception cleared. Buyer Comment (2025-04-24): Submitted Final [Redacted] from [Redacted] as source of funds for review.

04/28/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Purchase

C

A

C

A

A

A

N/A

No

508481091

33614286

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

Borrowers ownership interest in [Redacted] for access to funds was not located in the file.

Reviewer Comment (2025-05-05): Provided operating agreement of [Redacted] which states borrower is a sole owner. Exception cleared. Buyer Comment (2025-05-02): Entity documentation for [Redacted] denoting borrower sole member uploaded for review.

05/05/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Purchase

C

A

C

A

A

A

N/A

No

523949996

33614290

Credit

Documents

Missing Document

Documents

File does not contain documentation from lender/seller confirming the condo is warrantable.

-

Reviewer Comment (2025-01-22): Condo/PUD warranty document received and uploaded. Exception cleared. Seller Comment (2025-01-21): [Redacted] Condo Warranty.pdf (Credit Review Documentation) was uploaded

01/22/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Purchase

C

A

C

A

A

A

N/A

No

523949996

33614291

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Hazard Insurance Coverage Amount is insufficient. Coverage shortfall $[Redacted]. Provide updated Hazard Insurance Policy with Dwelling Coverage of at least $[Redacted]or Replacement Cost Estimator.

Reviewer Comment (2025-01-22): Hazard Insurance Policy received and uploaded. Exception cleared. Seller Comment (2025-01-21): Master Insurance AND HO6 policy uploaded [Redacted].pdf (Credit Review Documentation) was uploaded

01/22/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Purchase

C

A

C

A

A

A

N/A

No

578253280

33614305

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of  ___ is less than Cash From Borrower ___.

Reviewer Comment (2025-04-17): Details corrected in closing disclosure and Borrower has sufficient fund.  Exception cleared. Seller Comment (2025-04-16): Borrower has enough funds and received cash back of [Redacted] per the PCCD 1003.pdf (Loan Application) was referenced

04/17/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

578253280

33614307

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted]plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Total fee amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted] % or $[Redacted] . No valid change in circumstance or cure for borrower provided.

Reviewer Comment (2025-04-23): [Redacted] received corrected PCCD, LOE and closing statement. Seller Comment (2025-04-22): The [Redacted] was a lender credit to cure listed on section J done at closing. there is no copy of check. Seller Comment (2025-04-22): Please see Final settlement service attached [Redacted] [Redacted].pdf (Unclassified) was uploaded Reviewer Comment (2025-04-22): [Redacted] received Post CD dated [Redacted] and LOX. However, we still require copy of refund check for $[Redacted] and also True & certified Alta statement in order to verify the fees. Seller Comment (2025-04-21): Please see attestation letter attached [Redacted] ATTESTATION LETTER.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-14): [Redacted] received LOE and PCCD updating the title fees and adding $[Redacted] cure on it. However, copy of refund check for $[Redacted] and ALTA final settlement statement to verify the fees charged to borrower at closing is required to address the exception and finalize the fees. Seller Comment (2025-04-11): Please see PCCD [Redacted] PCCD.pdf (Unclassified) was uploaded

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

C

A

C

A

A

A

Non QM

Non QM

No

578253280

33614308

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

ATR failure due to missing income documentation: Most recent tax transcripts signed and dated 1040 not provided in file.

Reviewer Comment (2025-04-11): Per Rate Lock, its a P&L program, data corrected, exception cleared.

04/11/2025

1

B

A

C

A

B

A

C

A

B

A

CA

Primary

Purchase

Lender to provide updated ATR/QM status

C

A

C

A

C

A

A

A

Non QM

Non QM

No

578253280

33614309

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - Schedule C

Ability to Repay (Dodd-Frank 2014): Unable to verify Sole Proprietorship income using reasonably reliable third-party records.

Most recent tax transcripts signed and dated 1040 not provided in file.

Reviewer Comment (2025-04-11): Per Rate Lock, its a P&L program, data corrected, exception cleared. Seller Comment (2025-04-09): this is a P&L only program. 1040s and transcritps are not required

04/11/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

578253280

33614310

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

ATR failure due to missing income documentation: Most recent tax transcripts signed and dated 1040 not provided in file.

Reviewer Comment (2025-04-11): Per Rate Lock, its a P&L program, data corrected, exception cleared.

04/11/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

578253280

33614311

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Most recent tax transcripts signed and dated 1040 not provided in file.

Reviewer Comment (2025-04-11): Per Rate Lock, its a P&L program, data corrected, exception cleared.

04/11/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

578253280

33614312

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

ATR failure due to missing income documentation: Most recent tax transcripts signed and dated [Redacted] not provided in file.

Reviewer Comment (2025-04-11): Per Rate Lock, its a P&L program, data corrected, exception cleared.

04/11/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

578253280

33614313

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

ATR failure due to missing income documentation: Most recent tax transcripts signed and dated [Redacted] not provided in file.

Reviewer Comment (2025-04-11): Per Rate Lock, its a P&L program, data corrected, exception cleared.

04/11/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

574445741

33614314

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Flood insurance coverage amount is insufficient.

The Flood Insurance policy provided does not reflect the maximum coverage amount available from NFIP.

Reviewer Comment (2025-04-24): Flood Insurance document received and verified. Exception cleared Buyer Comment (2025-04-23): Flood insurance uploaded for review.

04/24/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

551548955

33614319

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Loan Estimate Issue Date Not Provided

TILA-RESPA Integrated Disclosure: Loan Estimate estimated to be provided on [Redacted] did not disclose the actual Date Issued. Compliance testing may be unreliable using an estimated Date Issued based on best information available.

Initial Loan Estimate does not contain an issue date.

Reviewer Comment (2025-04-21): [Redacted] received LOA to remove document(s) D0389 estimated to be provided on [Redacted], from testing as not provided to the borrower. Seller Comment (2025-04-17): The LE in question was a internal LE and was never disclosed to the borrower. it was included in the package in error. [Redacted] Attestation.pdf (Unclassified) was uploaded

04/21/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

Lender Attestation or other documentation to identify the date the LE was issued

C

B

B

B

C

A

A

A

Non QM

Non QM

No

551548955

33614321

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Review Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

File contains an LE with no issue date that does not disclose Appraisal Review Fee.

Reviewer Comment (2025-04-21): [Redacted] received LOA to remove document(s) D0389 estimated to be provided on [Redacted], from testing as not provided to the borrower. Seller Comment (2025-04-18): Conditions is not valid as LE referring to is not valid see LOE submitted on other conditionos.

04/21/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

A

A

A

Non QM

Non QM

No

551548955

33614322

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for MERS Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

File contains an LE with no issue date that does not disclose MERS fee.

Reviewer Comment (2025-04-21): [Redacted] received LOA to remove document(s) D0389 estimated to be provided on [Redacted], from testing as not provided to the borrower. Seller Comment (2025-04-18): Conditions is not valid as LE referring to is not valid see LOE submitted on other conditionos.

04/21/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

A

A

A

Non QM

Non QM

No

551548955

33614323

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exception approved for lack of housing history for borrower.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2025-04-14): Preapproved exception

04/14/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

C

B

B

B

C

A

A

A

Non QM

Non QM

No

565066495

33614326

Credit

Documents

Missing Document

Documents

File does not contain documentation from lender/seller confirming the condo is warrantable.

-

File does not contain documentation from lender/seller confirming the condo is warrantable. In HOA questionnaire document Project [Redacted] % completed is updated as "No" and Developer transferred control of the HOA to the Unit Owners is updated as "No".

Reviewer Comment (2025-04-17): Completion is not [Redacted]% and control not transferred due to new project. New project is eligible with full review as per guidelines. All Condo documents and Project approval available. Exception cleared. Seller Comment (2025-04-16): 1008.pdf (Unclassified) was uploaded

04/17/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

A

A

A

A

N/A

N/A

No

570872302

33614331

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Loan designation failure due to ATR failure. [Redacted] k-1 is missing for [Redacted] This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2025-04-25): Loan is NonQM. Buyer Comment (2025-04-22): Loan was qualified using combined income sources with [Redacted] months 1099 being the main source. For the K1, section 10.1 of guidelines requires income documented for one or two years with a K1 being allowed when combing with other income. Borrower also meets the less than [Redacted]% ownership. The bullet point that references PnL states "can be" included, not that it is required. Please escalate. Reviewer Comment (2025-04-22): Unable to clear. K-1 document used for [Redacted] income is required. A P&L is not located in the file. Buyer Comment (2025-04-17): The [Redacted] K1 had not been issued at the time of application. Borrower's letter of explanation under doc ID D0443, plus [Redacted] income checks under doc IDs D0229 thru D0232 (and doc IDs D0252 thru D0255), and an income worksheet under doc ID D0233 were all provided in lieu of the [Redacted] K1.

04/25/2025

1

B

A

C

A

B

A

C

A

B

A

CA

Primary

Purchase

Lender to provide updated ATR/QM status

C

A

A

A

C

A

A

A

Non QM

Non QM

No

570872302

33614332

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - K-1 Less 25%

Ability-to-Repay (Dodd-Frank 2014): Unable to verify current [Redacted] (Less than [Redacted] % Ownership) status using reasonably reliable third-party records.

[Redacted] k-1 is missing for [Redacted] This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2025-04-25): Documentation  meets lender guides. Buyer Comment (2025-04-22): Loan was qualified using combined income sources with [Redacted] months 1099 being the main source. For the K1, section 10.1 of guidelines requires income documented for one or two years with a K1 being allowed when combing with other income. Borrower also meets the less than [Redacted]% ownership. The bullet point that references PnL states "can be" included, not that it is required. Please escalate. Reviewer Comment (2025-04-22): Unable to clear. K-1 document used for [Redacted] income is required. A P&L is not located in the file. Buyer Comment (2025-04-17): The [Redacted] K1 had not been issued at the time of application. Borrower's letter of explanation under doc ID D0443, plus [Redacted] income checks under doc IDs D0229 thru D0232 (and doc IDs D0252 thru D0255), and an income worksheet under doc ID D0233 were all provided in lieu of the [Redacted] K1.

04/25/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

570872302

33614333

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - K-1 Less 25%

Ability to Repay (Dodd-Frank 2014): Unable to verify [Redacted] (Less than [Redacted]% Ownership) income using reasonably reliable third-party records.

Loan designation failure due to ATR failure. [Redacted] k-1 is missing for [Redacted] This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2025-04-25): Documentation  meets lender guides. Buyer Comment (2025-04-22): Loan was qualified using combined income sources with [Redacted] months 1099 being the main source. For the K1, section 10.1 of guidelines requires income documented for one or two years with a K1 being allowed when combing with other income. Borrower also meets the less than [Redacted]% ownership. The bullet point that references PnL states "can be" included, not that it is required. Please escalate. Reviewer Comment (2025-04-22): Unable to clear. K-1 document used for [Redacted] income is required. A P&L is not located in the file. Buyer Comment (2025-04-17): The [Redacted] K1 had not been issued at the time of application. Borrower's letter of explanation under doc ID D0443, plus [Redacted] income checks under doc IDs D0229 thru D0232 (and doc IDs D0252 thru D0255), and an income worksheet under doc ID D0233 were all provided in lieu of the [Redacted] K1.

04/25/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

570872302

33614334

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

Loan designation failure due to ATR failure. [Redacted] k-1 is missing for [Redacted] This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2025-04-25): Documentation  meets lender guides.

04/25/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

576752661

33614338

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

No evidence  in file showing borrower received copy of appraisal 3 days prior to note date. Appraisals were provided, however not at lease 3 business days prior to closing.

Reviewer Comment (2025-04-22): 3 days timing waiver received, exception cleared. Buyer Comment (2025-04-21): Submitted waiver for review.

04/22/2025

1

B

A

B

A

B

A

B

A

B

A

AZ

Investment

Purchase

C

A

C

A

B

A

A

A

N/A

N/A

No

576752661

33614340

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Property is a leasehold. Per lender guides, leasehold properties are not eligible.

Reviewer Comment (2025-04-22): Received updated information regarding leasehold. Condition cleared. Buyer Comment (2025-04-17): Leasehold properties are not eligible only when using a Hybrid Appraisal under section 13.3 of guidelines. Under section 13.4 of guidelines, leased land is acceptable if the term of the lease does not exceed the term of the loan by [Redacted] years. The lease ends on the last day of [Redacted] per doc ID D0296, page 527, which is [Redacted] years after the term of the loan.

04/22/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

B

A

A

A

N/A

N/A

No

576752661

33614341

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The subject property is a leasehold, however the appraisal indicates the subject is fee simple. This will need to be corrected.

Reviewer Comment (2025-04-25): Corrected appraisal received, exception cleared. Buyer Comment (2025-04-24): Submitted corrected appraisal reflecting Leasehold on page 1

04/25/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

B

A

A

A

N/A

N/A

No

568276094

33614344

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Exception #1 for property being listed for sale within last 6 months and no prepayment penalty. ([Redacted])

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Guidelines Representative FICO: 700 Representative FICO: [Redacted]

SitusAMC SitusAMC SitusAMC Aggregator,SitusAMC

Reviewer Comment (2025-04-16): Client elected to waive exceptions with compensating factors.

04/16/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

B

B

B

B

B

A

A

A

Non QM

Non QM

No

568276094

33614345

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Exception #2 The Asset utilization calculation has backed out the highest balance for the line of credit from the total qualifying assets calculation.

Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Guidelines Representative FICO: 700 Representative FICO: [Redacted]

SitusAMC SitusAMC SitusAMC Aggregator,SitusAMC

Reviewer Comment (2025-04-16): Client elected to waive exceptions with compensating factors.

04/16/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

B

B

B

B

B

A

A

A

Non QM

Non QM

No

568276094

33614347

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure -  Missing Signature on Affiliated Business Arrangement Disclosure

RESPA Disclosure Rule: Creditor did not obtain signature on Affiliated Business Arrangement Disclosure.

Reviewer Comment (2025-04-18): There is no lender's affiliate disclosure. Buyer Comment (2025-04-17): The document in question under Doc ID D0342 is not a [Redacted] Lending disclosure rather is from "[Redacted]".  Per the [Redacted] Lending SSPL Doc ID D0363 & D0413, we do not have any affiliates and are not affiliated with [Redacted].

04/18/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Refinance - Cash-out - Other

B

B

B

B

B

A

A

A

Non QM

Non QM

No

568276094

33614348

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-16): Sufficient Cure Provided At Closing

04/16/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

B

B

B

B

B

A

A

A

Non QM

Non QM

No

594407586

33614350

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability to Repay - Bank Statement Guidelines Require Less than 12 Months

Ability to Repay (Dodd-Frank 2014): Guidelines require less than 12 consecutive months bank statements.

Reviewer Comment (2025-04-23): Update 1008, rate lock and approval received. 1003 was already showing trust income. Trust income requirements met, exception cleared. Buyer Comment (2025-04-22): The documentation type should have been Full Doc, updated 1008, approval and lock confirmation uploaded to trailing docs for review.

04/23/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

594407586

33614351

Credit

Income

Income Error

Income

The total of Statement Period Months entered is less than the Qualifying Method entered of Most Recent 12 months.

-

Only [Redacted] months bank statements were provided for a [Redacted] month personal bank statement program.

Reviewer Comment (2025-04-23): Update 1008, rate lock and approval received. 1003 was already showing trust income. Trust income requirements met, exception cleared. Buyer Comment (2025-04-22): The documentation type should have been Full Doc, updated 1008, approval and lock confirmation uploaded for review.

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

594407586

33614352

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

ATR risk due to missing income documentation: [Redacted] months bank statements were provided for a [Redacted] month personal bank statement program.

Reviewer Comment (2025-04-23): Update 1008, rate lock and approval received. 1003 was already showing trust income. Trust income requirements met, exception cleared. Buyer Comment (2025-04-22): The documentation type should have been Full Doc, updated 1008, approval and lock confirmation uploaded to trailing docs for review.

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

594407586

33614353

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

ATR risk due to missing income documentation: [Redacted] months bank statements were provided for a [Redacted] month personal bank statement program.

Reviewer Comment (2025-04-23): Update 1008, rate lock and approval received. 1003 was already showing trust income. Trust income requirements met, exception cleared. Buyer Comment (2025-04-22): The documentation type should have been Full Doc, updated 1008, approval and lock confirmation uploaded to trailing docs for review.

04/23/2025

1

B

A

C

A

B

A

C

A

B

A

CA

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

No

594407586

33614354

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

ATR risk due to missing income documentation: [Redacted] months bank statements were provided for a [Redacted] month personal bank statement program.

Reviewer Comment (2025-04-23): Update 1008, rate lock and approval received. 1003 was already showing trust income. Trust income requirements met, exception cleared. Buyer Comment (2025-04-22): The documentation type should have been Full Doc, updated 1008, approval and lock confirmation uploaded to trailing docs for review.

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

594407586

33614355

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Credit report fee amount of $[Redacted] exceeds tolerance of $[Redacted] . Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-17): Sufficient Cure Provided At Closing

04/17/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Purchase

Final CD evidences Cure

C

A

C

A

C

A

A

A

Non QM

Non QM

No

594407586

33614357

Credit

Income / Employment

Income Documentation

Income / Employment

Income documentation requirements not met.

Only [Redacted] months bank statements were provided for a 24 month personal bank statement program.

Reviewer Comment (2025-04-23): Update 1008, rate lock and approval received. 1003 was already showing trust income. Trust income requirements met, exception cleared. Buyer Comment (2025-04-22): The documentation type should have been Full Doc, updated 1008, approval and lock confirmation uploaded to trailing docs for review.

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

594407586

33614358

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Reviewer Comment (2025-04-23): Update 1008, rate lock and approval received. 1003 was already showing trust income. Trust income requirements met, exception cleared. Buyer Comment (2025-04-22): The documentation type should have been Full Doc, updated 1008, approval and lock confirmation uploaded to trailing docs for review.

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

576335718

33614366

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: HOA Questionnaire not provided

HOA Questionnaire is missing in file.

Reviewer Comment (2025-04-24): Received clarification. Condition cleared. Buyer Comment (2025-04-21): Per section [Redacted] of the guidelines "No Project Review: 2 to 4 unit projects".  Per the 1073 appraisal report provided Doc ID D0270 page 767, the subject property is located in a 2 unit project, additional documentation is not required.

04/24/2025

1

C

A

C

A

C

A

C

A

C

A

CO

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

548423521

33614369

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Evidence preliminary appraisals dated [Redacted] and [Redacted] were provided to borrower is missing.

Reviewer Comment (2025-04-23): Appraisal delivery receipt received & associated. Exception cleared. Seller Comment (2025-04-21): Borrower acknowledgment that he received all the appraisal reports. App. disc.pdf (Unclassified) was uploaded

04/23/2025

1

B

A

B

A

B

A

B

A

B

A

NY

Primary

Purchase

C

B

B

B

C

A

A

A

Non QM

Non QM

No

548423521

33614371

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Loan Discount Points increased from $[Redacted]on initial CD to $[Redacted]on final CD with no valid COC provided. No evidence of cure found.

Reviewer Comment (2025-04-22): [Redacted] Received Valid COC dated [Redacted] along with CD. Seller Comment (2025-04-21): See attached COC CD DONE ON [Redacted] COC CD [Redacted].pdf (Closing Disclosure) was uploaded

04/22/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

B

B

C

A

A

A

Non QM

Non QM

No

548423521

33614372

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Exception requested and approved for no open or active mortgage reporting on credit.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum.

Reserves: [Redacted] Guideline Requirement: 6.00 DTI: [Redacted]% Guideline Maximum DTI: 50.00000%

SitusAMC SitusAMC Aggregator,SitusAMC SitusAMC SitusAMC Aggregator,SitusAMC

Reviewer Comment (2025-04-21): Client elects to waive with compensating factors.

04/21/2025

2

B

B

B

B

B

B

B

B

B

B

NY

Primary

Purchase

C

B

B

B

C

A

A

A

Non QM

Non QM

No

577266677

33614373

Credit

Loan Package Documentation

Application / Processing

Insurance

Missing Document: Flood Certificate not provided

Flood Certificate not provided.

Reviewer Comment (2025-04-29): Flood Certificate received and verified. Exception cleared Buyer Comment (2025-04-28): Submitted Flood Cert for review.

04/29/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

577266677

33614374

Compliance

Loan Package Documentation

Application / Processing

Missing, Incorrect, or Incomplete Final or Initial 1003

Missing Document: Missing Lender's Initial 1003

Lenders initial 1003 not provided.

Reviewer Comment (2025-04-23): Initial 1003 received and verified. Exception cleared Buyer Comment (2025-04-21): Initial 1003 uploaded for review.

04/23/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

577266677

33614376

Compliance

Compliance

Federal Compliance

Missing Application Date

Missing Initial Loan Application Test

No evidence of application date located in file.  Compliance tests were run using an application date of [Redacted] which is [Redacted] months prior to consummation. A lookback was performed to determine this application date.

Brokers and lenders initial 1003's not provided.

Reviewer Comment (2025-04-23): Initial 1003 received and verified. Exception cleared Buyer Comment (2025-04-21): Initial 1003 uploaded to trailing docs for review.

04/23/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

577266677

33614378

Compliance

Compliance

Federal Compliance

TILA

NMLS - Missing Evidence of Initial Loan Application Date

Truth in Lending Act (NMLSR Dodd- Frank 2014): Unable to determine compliance with NMLSR timing requirements due to missing evidence of initial loan application date.

Initial 1003 not provided.

Reviewer Comment (2025-04-23): Initial 1003 received and verified. Exception cleared Buyer Comment (2025-04-21): Initial 1003 uploaded to trailing docs for review.

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

577266677

33614380

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Not Provided Within 3 Business Days of Application

Unable to determine compliance with timing requirements due to missing Initial Loan Application Date.

Unable to determine due to missing 1003.

Reviewer Comment (2025-04-23): Initial 1003 received and verified. Exception cleared Buyer Comment (2025-04-21): Initial 1003 uploaded to trailing docs for review.

04/23/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

577266677

33614381

Compliance

Compliance

Federal Compliance

TRID

ECOA Appraisal Disclosure - ECOA Timing

ECOA - File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure within 3 days of the loan application date.

Failure is due to missing initial application date.

Reviewer Comment (2025-04-23): Initial 1003 received and verified. Exception cleared Buyer Comment (2025-04-21): Initial 1003 uploaded to trailing docs for review.

04/23/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

577266677

33614382

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

No evidence in file showing borrower received revised appraisal.

Buyer Comment (2025-04-28): EV2 Acknowledged

04/28/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

577266677

33614383

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

No evidence in file showing borrower received revised appraisal at least 3 business days prior to closing.

Buyer Comment (2025-04-28): EV2 Acknowledged

04/28/2025

2

B

B

B

B

B

B

B

B

B

B

FL

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

577266677

33614384

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Loan Estimate Timing Electronically Provided

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application.

Unable to determine due to missing initial application/1003.

Reviewer Comment (2025-04-29): [Redacted] received 1003 dated [Redacted] Buyer Comment (2025-04-28): Initial 1003 uploaded to Trailing Docs for review on [Redacted] at [Redacted] Buyer Comment (2025-04-21): Initial 1003 uploaded to trailing docs for review.

04/29/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

577266677

33614385

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Credit report fee amount of $[Redacted] exceeds tolerance of $[Redacted] . Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-04-17): Sufficient Cure Provided At Closing

04/17/2025

1

A

A

A

A

A

A

A

A

A

A

FL

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

C

B

C

A

C

B

A

A

Non QM

Non QM

No

577266677

33614386

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

AUS Findings: Combined High loan to value discrepancy.

Appraised value of $[Redacted] million does not match AUS appraised value of $[Redacted] million. Appraisal was updated with a lower value.

Reviewer Comment (2025-04-28): Updated AUS and 1008 received and verified. Exception cleared Buyer Comment (2025-04-25): Submitted updated DU and 1008 for review.

04/28/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

577266677

33614387

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

AUS Findings: Combined loan to value discrepancy.

Appraised value of $[Redacted] million does not match AUS appraised value of $[Redacted] million.

Reviewer Comment (2025-04-28): Updated AUS and 1008 received and verified. Exception cleared

04/28/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

573218252

33614394

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

The access letter from the additional partner of of [Redacted] for the use of business funds in the [Redacted] [Redacted] #[Redacted]is not located in the file.

Reviewer Comment (2025-04-23): Access letter is available. Buyer Comment (2025-04-21): The access letter for the [Redacted] [Redacted] and [Redacted] accounts was submitted in the initial shipping package which can be located in your file Doc ID D0392 page 750 & Doc ID D0393 page 751.

04/23/2025

1

C

A

C

A

C

A

C

A

C

A

GA

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

563069034

33614403

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

[Redacted]% tolerance was exceeded by $[Redacted] due to Transfer Tax Fee. No valid COC provided, Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-04-24): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception." Seller Comment (2025-04-23): Please see page 2 of 5 of CD section J for lender credit for $[Redacted] tolerance cure. carter cd and fss.pdf (Unclassified) was uploaded

04/24/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Second Home

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

No

563069034

33614404

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Sufficient cure was provided at closing

Reviewer Comment (2025-04-24): Sufficient Cure Provided At Closing

04/24/2025

1

A

A

A

A

A

FL

Second Home

Purchase

Final CD evidences Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

583184083

33614414

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Copy of Appraisal Not Provided 3 Business Days Prior to Consummation

ECOA Valuations Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower 3 business days prior to closing was not provided.

Reviewer Comment (2025-04-30): Appraisal delivery receipt date updated correctly. Exception cleared. Buyer Comment (2025-04-29): Proof of Appraisal Delivery for the [Redacted] report was included in the initial shipping package and is located in your portal under doc IDs D0303 and D0500.

04/30/2025

1

B

A

B

A

B

A

B

A

B

A

LA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

583184083

33614415

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Verification appraisal was delivered to borrower 3 business days prior to closing was not provided.

Reviewer Comment (2025-04-30): Appraisal delivery receipt date updated correctly. Exception cleared. Buyer Comment (2025-04-29): Proof of Appraisal Delivery for the [Redacted] report was included in the initial shipping package and is located in your portal under doc IDs D0303 and D0500.

04/30/2025

1

B

A

B

A

B

A

B

A

B

A

LA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

583184083

33614416

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated Available for Reserves of [Redacted] is less than Guideline Available for Reserves of 6 months

Reviewer Comment (2025-04-30): Data captured correctly on Closing disclosure. Exception cleared. Buyer Comment (2025-04-29): [Redacted] acknowledges [Redacted]% usage of $[Redacted] in verified liquid assets under doc ID D0267. The Final CD under doc ID D0418 reflects $[Redacted] funds needed to close + $[Redacted] unverified EMD. $[Redacted] - $[Redacted] is $[Redacted] in remaining assets/$[Redacted] PITIA = [Redacted] months reserves.

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

LA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

583184083

33614418

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan designation failure due to ATR failure. Insufficient asset to cover reserve required. This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2025-04-30): Data captured correctly on Closing disclosure. Exception cleared. Buyer Comment (2025-04-29): [Redacted] acknowledges [Redacted]% usage of $[Redacted] in verified liquid assets under doc ID D0267. The Final CD under doc ID D0418 reflects $[Redacted] funds needed to close + $[Redacted] unverified EMD. $[Redacted] - $[Redacted] is $[Redacted] in remaining assets/$[Redacted] PITIA = [Redacted] months reserves.

04/30/2025

1

B

A

C

A

B

A

C

A

B

A

LA

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

No

583184083

33614419

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Loan designation failure due to ATR failure. Insufficient asset to cover reserve required. This exception will be cleared once all ATR specific exceptions have been cured/cleared.

Reviewer Comment (2025-04-30): Data captured correctly on Closing disclosure. Exception cleared. Buyer Comment (2025-04-29): [Redacted] acknowledges [Redacted]% usage of $[Redacted] in verified liquid assets under doc ID D0267. The Final CD under doc ID D0418 reflects $[Redacted] funds needed to close + $[Redacted] unverified EMD. $[Redacted] - $[Redacted] is $[Redacted] in remaining assets/$[Redacted] PITIA = [Redacted] months reserves.

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

LA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

597360547

33614426

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

No evidence in file showing borrower received copy of appraisal.

Reviewer Comment (2025-05-02): Delivery evidence available for revised appraisal. One Preliminary appraisal was delivered on [Redacted]. Buyer Comment (2025-05-01): Per §[Redacted](a)(1) The reference to providing copies of "all" appraisals and other written valuations does not refer to all versions of the same appraisal or other written valuation. If you get multiple versions of an appraisal or other written valuation, you have to give the applicant only the latest version.  The revised appraisal report signed by the appraiser on [Redacted] was sent to the borrower on [Redacted] per Doc ID D0455, the presumed receipt date is [Redacted], the loan did not close until [Redacted], which meets ECOA requirements for waiving (Doc ID D0371), as the report was received prior to closing.

05/02/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

597360547

33614429

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Loan Estimate Timing Electronically Provided

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered to Borrower(s) within three (3) business days of application. Initial Loan Estimate dated [Redacted] was electronically provided without or prior to borrower's consent to receive electronic disclosures. Failure to comply with the provisions of the E-Sign Act and failure to provide good faith estimate of fees timely may result in additional fee tolerance violations.

LE issued on [Redacted] not signed by borrower until [Redacted].

Reviewer Comment (2025-05-02): [Redacted] received disclosures summary to show LE was fulfilled. Buyer Comment (2025-05-01): Initial disclosure tracking denoting the [Redacted] fulfillment (mailing) date has been uploaded for review.

05/02/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

597360547

33614431

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Dodd-Frank 2014): Borrower waived right to receive a copy of the appraisal at least three (3) business days prior to closing, and appraisal was not provided at or before closing.

No evidence in file showing borrower received copy of appraisal.

Reviewer Comment (2025-05-02): Delivery evidence available for revised appraisal. Buyer Comment (2025-05-01): Per §[Redacted](a)(1) The reference to providing copies of "all" appraisals and other written valuations does not refer to all versions of the same appraisal or other written valuation. If you get multiple versions of an appraisal or other written valuation, you have to give the applicant only the latest version.  The revised appraisal report signed by the appraiser on [Redacted] was sent to the borrower on [Redacted] per Doc ID D0455, the presumed receipt date is [Redacted], the loan did not close until [Redacted], which meets ECOA requirements for waiving (Doc ID D0371), as the report was received prior to closing.

05/02/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

597360547

33614432

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception request for cash-out refi on property listed in the last 6 months is approved.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%.

Borrower has been employed in the same industry for more than [Redacted] years. Loan to Value: [Redacted]% Guideline Maximum Loan to Value: 70.00000%

Aggregator,SitusAMC SitusAMC SitusAMC SitusAMC Aggregator,SitusAMC

Reviewer Comment (2025-05-06): Client elects to waive with compensating factors. Buyer Comment (2025-05-01): The approved credit exception is in the loan file Doc ID D0216, please advise as to what else is needed.  Thank you.

05/06/2025

2

C

B

C

B

C

B

C

B

C

B

FL

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

577811777

33614436

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

VOR or most recent 12 months' consecutive cancelled checks is not located in the file to verify housing history.

Reviewer Comment (2025-05-05): 12 month cancelled checks provided in loan file, Exception Cleared. Buyer Comment (2025-05-02): The VOR documentation was provided in the initial shipping package within your portal "Out of Scope" "Official Check" Doc ID D0825.  Additionally, please update the document type on this loan file to 24 Month Bank Statement per Doc ID D0402, your portal currently denotes 12 Month Bank Statement.

05/05/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

581720443

33726822

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Maximum Loan Amount discrepancy.

Note loan amount of ___ is greater than Guideline maximum loan amount of ___.

Loan amount exceeds max allowable loan amount of $[Redacted], lender exception in file.

Borrower has owned the subject property for at least [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

$[Redacted] residual income DTI is [Redacted]% below guideline max. Fico is [Redacted] points above guideline minimum.

SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC Originator,SitusAMC

Reviewer Comment (2025-04-15): Lender exception in file.

04/15/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

581720443

33726823

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Insufficient assets verified to meet reserve requirement. Missing LOE from other owners of the business to verify okay to use business funds and amount allowed to use.

Reviewer Comment (2025-04-30): Received and associated Evidence of Access to Funds document. Exception cleared. Buyer Comment (2025-04-28): see docs provided

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

581720443

33726824

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

12 month primary payment history was not provided.

Reviewer Comment (2025-06-06): Received Updated Credit Supplement to verify 12 months rental history for Primary property. Exception Cleared. Buyer Comment (2025-06-04): See docs provided

06/06/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

581720443

33726825

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-04-30): Received and associated Evidence of Access to Funds document. Exception cleared.

04/30/2025

1

B

A

C

A

B

A

C

A

B

A

CA

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

581720443

33726826

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-04-30): Received and associated Evidence of Access to Funds document. Exception cleared

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

559931490

33726830

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Missing letter reflecting that use of business funds for [Redacted] will not adversely impact the business.

Reviewer Comment (2025-05-27): Documentation provided; exception cleared. Reviewer Comment (2025-05-14): Please provide Cash Flow Analysis and LOE from borrower stating that use of business funds will not have a negative impact on the business. Exception remains. Buyer Comment (2025-05-13): See uploaded CPA letter Buyer Comment (2025-05-12): See Uploaded LOX for use of funds.

05/27/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

559931490

33726831

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing documentation describing borrower's ownership in [Redacted].

Reviewer Comment (2025-05-27): Documentation provided; exception cleared. Buyer Comment (2025-05-23): See Uploaded CPA letter and Tax Account status

05/27/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

559931490

33726832

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Missing documentation describing borrower's ownership in [Redacted].

Reviewer Comment (2025-06-13): Documentation provided, exception cleared. Buyer Comment (2025-06-13): See uploaded statements and note the Savings account attached, please include in your asset calculations as they were used to qualify. Reviewer Comment (2025-06-12): Borrower is still short funds to close. Received One month bank statements for Savings account number#[Redacted] and Checking account number#[Redacted] with an end date of [Redacted]. As per the guidelines, 2 months statements are required. Exception remains Buyer Comment (2025-06-10): See Uploaded Bank Statement period ending [Redacted] and Income Wire Reviewer Comment (2025-06-10): Included assets from [Redacted], borrower is still short funds to close. Do we have a cpa letter or cash flow analysis for use of business funds from [Redacted]?. We also need to source the EMD of $[Redacted]. Buyer Comment (2025-06-06): See uploaded CPA letter dated [Redacted] Reviewer Comment (2025-06-06): Please provide a dated copy of the cpa letter to verify it was provided prior to closing. Buyer Comment (2025-06-04): See Uploaded CPA Letter confirming [Redacted]% ownership and no Impact on business Reviewer Comment (2025-05-27): Missing cpa letter that states there will be no negative impact to the business with use of business funds for closing. Buyer Comment (2025-05-23): See Uploaded CPA letter and Tax Account status

06/13/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

559931490

33726833

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan is at ATR risk due to insufficient asset documentation.

Reviewer Comment (2025-06-10): Documentation provided; exception cleared. Buyer Comment (2025-06-06): See uploaded CPA letter dated [Redacted] attached to condition #[Redacted] Reviewer Comment (2025-06-06): Please provide a dated copy of the cpa letter to verify it was provided prior to closing. Buyer Comment (2025-06-04): See uploaded CPA letter attached to condition #[Redacted]

06/10/2025

1

B

A

C

A

B

A

C

A

B

A

TX

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

559931490

33726834

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Loan is at ATR risk due to insufficient asset documentation.

Reviewer Comment (2025-06-10): Documentation provided; exception cleared. Buyer Comment (2025-06-06): See uploaded CPA letter dated [Redacted] attached to condition #[Redacted] Reviewer Comment (2025-06-06): Please provide a dated copy of the cpa letter to verify it was provided prior to closing. Buyer Comment (2025-06-04): See uploaded CPA letter attached to condition #[Redacted]

06/10/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

560450967

33726842

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Timing Before Closing

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on[Redacted] not received by borrower at least four (4) business days prior to closing.

Revised Loan Estimate provided on [Redacted] not received by borrower at least four business days prior to closing

Reviewer Comment (2025-05-12): [Redacted] received proof of receipt. Buyer Comment (2025-05-09): Please see the E-Log for the [Redacted] LE and [Redacted] LE.  Document shows that the disclosure was sent on [Redacted] & [Redacted] and message viewed by the borrower indicating receipt of both LE's within 4 business days of closing. Reviewer Comment (2025-05-07): The [Redacted] LE was received on  [Redacted], based on the 3-eay mail box rule, however the closing was [Redacted].  So, the LE was not received by the borrower 4 or more days prior to closing. [Redacted](e)(4)(ii) also requires that the consumer must receive any revised version of the disclosures required under § [Redacted](e)(1)(i) no later than four business days prior to consummation, and provides that if the revised version of the disclosures are not provided to the consumer in person, the consumer is considered to have received the revised version of the disclosures three business days after the creditor delivers or places in the mail the revised version of the disclosures. Buyer Comment (2025-05-06): See docs provided

05/12/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

No Defined Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

560450967

33726843

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Timing Before Closing

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on [Redacted] not received by borrower at least four (4) business days prior to closing.

Revised Loan Estimate provided on [Redacted] not received by borrower at least four business days prior to closing

Reviewer Comment (2025-05-12): [Redacted] received proof of receipt. Buyer Comment (2025-05-09): Please see the E-Log for the [Redacted] LE and [Redacted] LE.  Document shows that the disclosure was sent on [Redacted] & [Redacted] and message viewed by the borrower indicating receipt of both LE's within 4 business days of closing. Reviewer Comment (2025-05-07): The [Redacted] LE was received on  [Redacted], based on the 3-day mailbox rule, however the closing was [Redacted].  So, the LE was not received by the borrower 4 or more days prior to closing. [Redacted](e)(4)(ii) also requires that the consumer must receive any revised version of the disclosures required under § [Redacted](e)(1)(i) no later than four business days prior to consummation, and provides that if the revised version of the disclosures are not provided to the consumer in person, the consumer is considered to have received the revised version of the disclosures three business days after the creditor delivers or places in the mail the revised version of the disclosures. Buyer Comment (2025-05-06): See docs provided

05/12/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

No Defined Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

581766475

33726846

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Reviewer Comment (2025-05-13): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-05-12): Fraud report

05/13/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

D

B

D

A

C

B

A

A

Non QM

Non QM

No

581766475

33726847

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

Reviewer Comment (2025-05-13): Received and associated hazard Insurance document. Exception cleared. Buyer Comment (2025-05-12): Hazard insurance

05/13/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

D

B

D

A

C

B

A

A

Non QM

Non QM

No

581766475

33726848

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Purchase Agreement / Sales Contract not provided

Reviewer Comment (2025-05-13): Received and associated Purchase Agreement / Sales Contract for subject property. Exception cleared. Buyer Comment (2025-05-12): Purchase contract

05/13/2025

1

D

A

D

A

D

A

D

A

D

A

IL

Primary

Purchase

D

B

D

A

C

B

A

A

Non QM

Non QM

No

581766475

33726849

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Hazard Insurance Policy was not provided.

Reviewer Comment (2025-05-13): Received and associated hazard Insurance document. Exception cleared. Buyer Comment (2025-05-12): Hazard uploaded to [Redacted]

05/13/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

D

B

D

A

C

B

A

A

Non QM

Non QM

No

581766475

33726850

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Legal / Regulatory / Compliance

Final Title Policy is missing. No evidence of title in file.

Reviewer Comment (2025-05-13): Received and associated Title Commitment with title policy amount $[Redacted]. Exception cleared. Buyer Comment (2025-05-12): Title binder

05/13/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

D

B

D

A

C

B

A

A

Non QM

Non QM

No

581766475

33726851

Credit

Credit

Credit Documentation

Credit

No evidence of fraud report in file

-

Reviewer Comment (2025-05-13): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-05-12): Fraud report uploaded to [Redacted].

05/13/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

D

B

D

A

C

B

A

A

Non QM

Non QM

No

581766475

33726858

Compliance

Compliance

Federal Compliance

TRID Defect

TILA-RESPA Integrated Disclosure: application date on or after 10/3/2015, no Loan Estimates in the Loan File

TILA-RESPA Integrated Disclosure: Loan Estimate not provided within loan images to evidence delivery to the Borrower(s).  The earliest Closing Disclosure provided in the loan file was used as the estimated baseline for Tolerance Testing.  Depending on the actual values on the initial Loan Estimate, a fee tolerance cure of up to $[Redacted] may be required.

Loan Estimate not provided.

Reviewer Comment (2025-05-13): [Redacted] received [Redacted] LE Buyer Comment (2025-05-12): Loan estimate [Redacted]

05/13/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

No Defined Cure

D

B

D

A

C

B

A

A

Non QM

Non QM

No

581766475

33726860

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted]exceeds tolerance of $[Redacted] plus [Redacted]% or $[Redacted].  Insufficient or no cure was provided to the borrower.

Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted] plus [Redacted] % or $[Redacted].  No valid changed circumstance was provided. Insufficient cure provided for all closing costs above the legal limit. Loan Estimate not provided.

Reviewer Comment (2025-05-16): [Redacted] received PCCD, LOE, proof of mailing & copy of refund check. Buyer Comment (2025-05-15): PCCD and cure docs. Covering all TRID exceptions Reviewer Comment (2025-05-14): [Redacted]: The initial LE that was provided in the trailing images was also provided in the original loan package. However, the recording fee increase of $[Redacted] from $[Redacted] on final CD dated [Redacted] without [Redacted]. Also, Cure provided at closing is insufficient to cure for all citied [Redacted]% and [Redacted]% exception. Provide valid COC for the fee increased on Final CD dated [Redacted] or Cure is required to borrower. Cure consists of corrected CD, LOE to borrower, proof of mailing, and copy of refund check. Buyer Comment (2025-05-13): Initial LE

05/16/2025

2

C

B

C

B

C

B

C

B

C

B

IL

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

B

D

A

C

B

A

A

Non QM

Non QM

Yes

581766475

33726861

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Recording Service Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Title - Recording Service Fee. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. No valid changed circumstance was provided. Insufficient cure provided for all closing costs above the legal limit. Loan Estimate not provided.

Reviewer Comment (2025-05-13): [Redacted] received [Redacted] LE

05/13/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

B

D

A

C

B

A

A

Non QM

Non QM

Yes

581766475

33726862

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

[Redacted] received [Redacted] LE. [Redacted] changed circumstance form did not document & sufficient explain the change reason for the increase in the fee.  COC only states updated fee amount.  A valid reason for increasing the fee must be documented for a valid change reason.

Reviewer Comment (2025-05-16): [Redacted] received PCCD, LOE, proof of mailing & copy of refund check. Buyer Comment (2025-05-15): PCCD and cure docs. Covering all TRID exceptions uploaded to [Redacted].

05/16/2025

2

B

B

B

B

B

IL

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

B

D

A

C

B

A

A

Non QM

Non QM

Yes

559209933

33726866

Credit

Title

Document Error

Title

The Preliminary title policy is within CA or NV and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The Preliminary title policy amount is blank. A Final policy was not provided.

Reviewer Comment (2025-05-13): Received and associated Supplemental Title preliminary title policy amount $360,000.00. Exception cleared. Buyer Comment (2025-05-12): attached Buyer Comment (2025-05-12): Title supplemental report

05/13/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

559209933

33726870

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Total Of Payments

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an inaccurate Total of Payments on page 5 that does not match the actual total of payments for the loan (fee amounts included in TOP calculation are based on Closing Disclosure dated [Redacted]).  The disclosed Total of Payments in the amount of $[Redacted]is under disclosed by $[Redacted]compared to the calculated total of payments of $[Redacted]which exceeds the $[Redacted]threshold.

Disclosed Total of Payments was $[Redacted]. Calculated Total of Payments is $[Redacted]. Variance of -$[Redacted]. Total of Payments was updated to $[Redacted] on Closing Disclosure with issue date [Redacted].

Reviewer Comment (2025-06-06): [Redacted] received PCCD, LOE, Copy of Refund Check, Re-opening of Rescission and Proof of Receipt. Buyer Comment (2025-06-05): RTC signed by borrower Buyer Comment (2025-06-05): Mailer and tracking showing delivered Reviewer Comment (2025-05-26): Courier tracking does not indicate receipt of cure package at this time.  Additionally, This is a material exception on a rescindable transaction and requires reopening of rescission and proof of delivery of RTC to complete cure. Further, the RTC must allow the borrower three days to cancel the transaction from date of delivery. Buyer Comment (2025-05-23): Mailer Buyer Comment (2025-05-23): Check Buyer Comment (2025-05-23): LOE Reviewer Comment (2025-05-15): [Redacted] received [Redacted] Corrected CD.  However, missing  the remaining cure documents.  Provide LOE to borrower which accompanied the PCCD, copy of cure refund of $[Redacted] for total underdisclosure, proof of mailing and proof of reopening rescission to all consumers as this is a material disclosure violation on a rescindable transaction. Buyer Comment (2025-05-14): PCCD

06/06/2025

2

C

B

C

B

C

B

C

B

C

B

CA

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed equivalent amount, Corrected CD, and Re-open Rescission if Applicable

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

559209933

33726871

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Missing verification of borrower's percentage of business ownership for Bubble Non-Emergency.

Reviewer Comment (2025-05-14): Received and associated Operating Agreement for [Redacted] Non Emergency Transport with Percentage of Ownership. Exception Cleared. Buyer Comment (2025-05-13): Shareholder agreement

05/14/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Refinance - Cash-out - Other

C

B

C

A

C

B

A

A

Non QM

Non QM

No

533947644

33726882

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Missing cash flow analysis for use of business funds.

Reviewer Comment (2025-06-13): Received and associated Cash Flow analysis. Sufficient assets for closing verified. Exception cleared. Buyer Comment (2025-06-11): See docs provided

06/13/2025

1

C

A

C

A

C

A

C

A

C

A

TN

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

581674773

33726886

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Loan Estimate Timing Electronically Provided

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application.

Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application.

Reviewer Comment (2025-06-09): [Redacted] received initial LE dated [Redacted]. Buyer Comment (2025-06-05): See docs provided Reviewer Comment (2025-05-22): [Redacted] received rebuttal that LE was disclosed on [Redacted]. However, there are varying documents in file with discrepancy to the actual application date. Must provide documentation to support the application date and lender's receipt of the 6 pieces of information supporting that date. Please note the following documentation in loan file with dates prior to the noted [Redacted] application date:  Title commitment dated [Redacted] reflects the borrower name as proposed insured (doc ID 0312), FACTA Disclosures dated [Redacted] Doc ID (D0228) which required borrower name and SSN. Compliance report dated [Redacted] reflects TILA/RESPA fails (page 5 of 30 of report) stating the initial LE, SSPL & homeownership counseling disclosures issued >3 business days from the application date of [Redacted] (issued on [Redacted]).  Please document, clarify and address the discrepancies and verify actual application date and information submitted to constitute an application for purposes of RegZ. Documents in file appear to have a consistent loan ID #, but if a prior application was denied or cancelled, provide adverse action notice to support that action and the receipt of new information. Buyer Comment (2025-05-21): Initial app was [Redacted].  LE was given to borrower on [Redacted] as well. See attached LE.

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

ID

Primary

Refinance - Cash-out - Other

C

A

A

A

C

A

A

A

Non QM

Non QM

No

574745776

33726889

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Service Charges.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Title - Service Charges.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-06-09): [Redacted] received LOX for rebuttal response for a valid Changed circumstance. Buyer Comment (2025-06-05): See docs provided Reviewer Comment (2025-05-29): [Redacted] received COC dated [Redacted] but the reason provided is not valid for adding the deed preparation and water cert fee. Please provide more details on what new information received to the lender that was unknown at the time of initial which resulted in adding the fees or cure would be required. Buyer Comment (2025-05-28): See coc provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

574745776

33726890

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Document Preparation Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Title - Document Preparation Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-06-09): [Redacted] received LOX for rebuttal response for a valid Changed circumstance. Buyer Comment (2025-06-05): See docs provided Reviewer Comment (2025-05-29): [Redacted] received COC dated [Redacted] but the reason provided is not valid for adding the deed preparation and water cert fee. Please provide more details on what new information received to the lender that was unknown at the time of initial which resulted in adding the fees or cure would be required. Buyer Comment (2025-05-28): See docs to tpr

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

564003731

33726893

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Missing cash flow analysis for use of business funds.

Reviewer Comment (2025-06-10): Received and associated Cash Flow analysis. Sufficient assets for closing verified. Exception cleared. Buyer Comment (2025-06-06): See cash flow provided Reviewer Comment (2025-06-02): Please Provide Cash flow analysis to verify no negative impact to business with use of business fund. Exception remains Buyer Comment (2025-05-30): See docs provided

06/10/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

513969316

33726904

Compliance

Compliance

State Compliance

Misc. State Level

Maryland Counseling Agencies Disclosure Not in File

[Redacted] - No evidence of required counseling disclosure language per [Redacted].

No evidence of required counseling disclosure language per [Redacted]

Reviewer Comment (2025-05-30): Documentation provided; exception cleared. Buyer Comment (2025-05-27): See docs provided

05/30/2025

1

B

A

B

A

B

A

B

A

B

A

MD

Primary

Purchase

C

A

C

A

B

A

A

A

Non QM

Non QM

No

513969316

33726906

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-05-19): Sufficient Cure Provided At Closing

05/19/2025

1

A

A

A

A

A

A

A

A

A

A

MD

Primary

Purchase

Final CD evidences Cure

C

A

C

A

B

A

A

A

Non QM

Non QM

Yes

513969316

33726907

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Divorce Decree / Child Support not provided

Reviewer Comment (2025-05-22): Received and associated Letter Of Expiation. Exception cleared. Buyer Comment (2025-05-21): See LOX provided about both marriages/child support Buyer Comment (2025-05-21): see LOX for both

05/22/2025

1

C

A

C

A

C

A

C

A

C

A

MD

Primary

Purchase

C

A

C

A

B

A

A

A

Non QM

Non QM

No

571225721

33726916

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Missing wire to title for gift funds in the amount of $[Redacted].

Reviewer Comment (2025-05-28): Received Deposit Receipt and Wire Confirmation of $[Redacted] gift funds sent to title company. Sufficient assets for closing and reserve requirement verified. Exception Cleared. Buyer Comment (2025-05-27): See docs provided

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

571225721

33726917

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Missing wire to title for gift funds in the amount of $[Redacted].

Reviewer Comment (2025-05-28): Received Deposit Receipt and Wire Confirmation of $[Redacted] gift funds sent to title company. Sufficient assets for closing and reserve requirement verified. Exception Cleared. Buyer Comment (2025-05-27): See docs provided

05/28/2025

1

B

A

C

A

B

A

C

A

B

A

TX

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

571225721

33726918

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Missing wire to title for gift funds in the amount of $[Redacted].

Reviewer Comment (2025-05-28): Received Deposit Receipt and Wire Confirmation of $[Redacted] gift funds sent to title company. Sufficient assets for closing and reserve requirement verified. Exception Cleared. Buyer Comment (2025-05-27): See docs provided

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

571225721

33726919

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Missing wire to title for gift funds in the amount of $[Redacted].

Reviewer Comment (2025-05-28): Received Deposit Receipt and Wire Confirmation of $[Redacted] gift funds sent to title company. Sufficient assets for closing and reserve requirement verified. Exception Cleared. Buyer Comment (2025-05-27): See docs provided

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

543527689

33726927

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file.

The Title Policy Amount of $[Redacted] is less than the note amount of $[Redacted] based on the Commitment in file.

Reviewer Comment (2025-05-30): An updated Title Commitment with the correct coverage amount was provided. Buyer Comment (2025-05-30): See docs provided Reviewer Comment (2025-05-30): Title commitment still has incorrect loan amount, exception remains. Buyer Comment (2025-05-28): See docs provided

05/30/2025

1

B

A

B

A

B

A

B

A

B

A

NJ

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

543527689

33726928

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

The file was missing a copy of Business Narrative form.

Reviewer Comment (2025-05-29): Received and associated business narrative document for [Redacted]. Exception Cleared. Buyer Comment (2025-05-28): See docs provided

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

543527689

33726929

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

The file is missing a copy of the secondary valuation.

Reviewer Comment (2025-05-29): Received secondary valuation CDA with value $[Redacted]. Exception Cleared. Buyer Comment (2025-05-28): See docs provided

05/29/2025

1

D

A

D

A

D

A

D

A

D

A

NJ

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

543527689

33726930

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Missing 12 month housing history of primary that meets guidelines. Lender approved exception for non-traditional housing payment history.

The qualifying DTI on the loan is at least [Redacted]% less than the guideline maximum. Borrower has been employed in the same industry for more than [Redacted] years. Borrower has verified disposable income of at least $[Redacted]. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The Combined Loan to Value (CLTV) on the loan is less than the guideline maximum by at least [Redacted]%. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least [Redacted]%. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

[Redacted]% DTI

SitusAMC,Aggregator SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC SitusAMC

Reviewer Comment (2025-05-30): The client elects to waive. Buyer Comment (2025-05-28): See docs provided

05/30/2025

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

543527689

33726931

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Waterfall finding due to missing business narrative.

Reviewer Comment (2025-05-29): Received and associated business narrative document for [Redacted]. Exception Cleared. Buyer Comment (2025-05-28): See docs provided

05/29/2025

1

B

A

C

A

B

A

C

A

B

A

NJ

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

D

B

C

B

C

A

D

A

Non QM

Non QM

Yes

543527689

33726932

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Waterfall finding due to missing business narrative.

Reviewer Comment (2025-05-29): Received and associated business narrative document for [Redacted]. Exception Cleared. Buyer Comment (2025-05-28): See docs provided

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Purchase

D

B

C

B

C

A

D

A

Non QM

Non QM

No

558347311

33726934

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Hazard coverage of $[Redacted] sufficient to cover the mortgage amount of $[Redacted] however is insufficient to cover the estimated cost new of $[Redacted] please provide a letter from the Insurer stating the maximum insurable amount and/or a replacement costs estimator from the insurer. Coverage shortfall is $[Redacted]

Reviewer Comment (2025-05-29): Received and Associated Updated Hazard Insurance Policy and Replacement Cost Estimator document with $[Redacted]. Exception cleared. Buyer Comment (2025-05-28): See docs provided

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

MS

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

558347311

33726936

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Private VOR requires 12 months cancelled checks. Checks in file are only copies of the checks.

Reviewer Comment (2025-06-13): Documentation provided; exception cleared. Buyer Comment (2025-06-11): Some of the checks were for 2 payments at one time - please review. Reviewer Comment (2025-06-10): 11 months provided, exception remains. Buyer Comment (2025-06-06): See docs provided

06/13/2025

1

C

A

C

A

C

A

C

A

C

A

MS

Primary

Purchase

C

A

C

A

A

A

A

A

Non QM

Non QM

No

577333247

33726955

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Transfer Tax. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted] . Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-06-16): [Redacted] received Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD. Buyer Comment (2025-06-13): TRID cure docs Reviewer Comment (2025-05-29): [Redacted] received LOE that cure was already provided at closing however, the cure provided is $[Redacted] while the cure required is $[Redacted]. Please provide additional cure of $[Redacted]. Buyer Comment (2025-05-28): LOE

06/16/2025

2

C

B

C

B

C

B

C

B

C

B

MI

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

577333247

33726956

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Rider - Other not provided

Legal Description of property was not attached to the Security Instrument.

Reviewer Comment (2025-06-02): Received and associated Rider -Legal Description. Exception Cleared. Buyer Comment (2025-05-29): Complete DOT

06/02/2025

1

C

A

C

A

C

A

C

A

C

A

MI

Primary

Purchase

C

B

C

A

C

B

A

A

Non QM

Non QM

No

579264958

33726958

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employment - Bank Statements

Ability-to-Repay (Dodd-Frank 2014): Unable to verify current employment status using reasonably reliable third-party records.

Verification of the existence of Borrower's Business within [Redacted] calendar days prior to the note date was not provided.

Reviewer Comment (2025-06-13): Documentation provided; exception cleared. Buyer Comment (2025-06-12): See docs provided Reviewer Comment (2025-06-10): The third party verif. is dated post closing with no other documentation to verify the business prior to closing, exception remains. Buyer Comment (2025-06-06): See docs provided

06/13/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

D

A

C

A

C

A

D

A

Non QM

Non QM

No

579264958

33726959

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Assets - Bank Statements

Ability to Repay (Dodd-Frank 2014):  Unable to verity Bank Statement income due to, bank statement provided was dated more than 90 days prior to closing, other verification was not provided from a reliable third party income source.

Unable to verity Bank Statement income due to, bank statement provided was dated more than [Redacted] days prior to closing. Most recent Business Bank statement provided was [Redacted]. Closing date was [Redacted].

Reviewer Comment (2025-06-13): Documentation provided; exception cleared. Buyer Comment (2025-06-11): Document provided is from [Redacted]. Reviewer Comment (2025-06-10): Provide most recent months bank statements, statements in file are from January. Buyer Comment (2025-06-06): See docs provided

06/13/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

D

A

C

A

C

A

D

A

Non QM

Non QM

No

579264958

33726961

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Loan designation discrepancy due to missing income and asset documentation.

Reviewer Comment (2025-06-13): Documentation provided; exception cleared. Buyer Comment (2025-06-12): See docs provided Reviewer Comment (2025-06-10): The third party verif. is dated post closing with no other documentation to verify the business prior to closing. Also, insufficient assets verified to meet reserve requirement. Buyer Comment (2025-06-06): See docs provided

06/13/2025

1

B

A

C

A

B

A

C

A

B

A

NY

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM status

D

A

C

A

C

A

D

A

Non QM

Non QM

Yes

579264958

33726962

Compliance

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Ability-to-Repay (Dodd-Frank 2014): General Ability-to-Repay requirements not satisfied.

ATR requirements not met due to missing income and asset documentation.

Reviewer Comment (2025-06-13): Documentation provided; exception cleared.

06/13/2025

1

A

A

A

A

A

A

A

A

A

A

NY

Primary

Refinance - Cash-out - Other

D

A

C

A

C

A

D

A

Non QM

Non QM

No

579264958

33726964

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized. Secondary  valuation is missing. Sec ID: 2

Reviewer Comment (2025-06-10): Documentation provided; exception cleared. Buyer Comment (2025-06-06): See docs provided

06/10/2025

1

D

A

D

A

D

A

D

A

D

A

NY

Primary

Refinance - Cash-out - Other

D

A

C

A

C

A

D

A

Non QM

Non QM

No

579264958

33726965

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2025-06-10): Documentation provided; exception cleared. Buyer Comment (2025-06-06): See docs provided

06/10/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

D

A

C

A

C

A

D

A

Non QM

Non QM

No

579264958

33726966

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

12 month verification of primary payment history was not provided.

Reviewer Comment (2025-06-10): Documentation provided; exception cleared. Buyer Comment (2025-06-06): See docs provided

06/10/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

D

A

C

A

C

A

D

A

Non QM

Non QM

No

579264958

33726967

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Calculated PITIA months reserves of [Redacted] is less than Guideline PITIA months reserves of [Redacted]. Business Funds were used to qualify. Evidence of access to the funds was not provided.

Reviewer Comment (2025-06-20): Documentation provided; exception cleared. Buyer Comment (2025-06-18): See docs provided Reviewer Comment (2025-06-17): The operating agreement provided is not for Chevria Inc., exception remains. Buyer Comment (2025-06-13): Item number 10 of previously provided Operating agreement has [Redacted] of allocation.

06/20/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

D

A

C

A

C

A

D

A

Non QM

Non QM

No

579264958

33726968

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Verification of the existence of Borrower's Business within [Redacted] calendar days prior to the note date was not provided.

Reviewer Comment (2025-06-10): Documentation provided; exception cleared. Buyer Comment (2025-06-06): See docs provided

06/10/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

D

A

C

A

C

A

D

A

Non QM

Non QM

No

579264958

33726969

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

ATR requirements not met due to missing income and asset documentation.

Reviewer Comment (2025-06-20): Documentation provided; exception cleared. Buyer Comment (2025-06-18): See docs provided Reviewer Comment (2025-06-13): Insufficient assets verified to meet reserve requirement. Buyer Comment (2025-06-12): See docs provided

06/20/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

D

A

C

A

C

A

D

A

Non QM

Non QM

No

579264958

33726970

Compliance

Compliance

Federal Compliance

TRID

TRID Lender Credit Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Lender Credits.  Final Lender Credit of $-[Redacted]exceeds tolerance of $-[Redacted]. Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-05-28): Sufficient Cure Provided At Closing

05/28/2025

1

A

A

A

A

A

A

A

A

A

A

NY

Primary

Refinance - Cash-out - Other

D

A

C

A

C

A

D

A

Non QM

Non QM

Yes

579264958

33726971

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide verification of borrower's percentage of business ownership.

Reviewer Comment (2025-06-20): Documentation provided; exception cleared. Buyer Comment (2025-06-18): See docs provided Reviewer Comment (2025-06-17): The operating agreement provided is not for [Redacted]., exception remains. Buyer Comment (2025-06-13): Item number 10 of previously provided Operating agreement has [Redacted] of allocation. Reviewer Comment (2025-06-13): Missing borrower's percentage of business ownership for [Redacted], exception remains. Buyer Comment (2025-06-12): see ownership docs

06/20/2025

1

A

A

A

A

A

NY

Primary

Refinance - Cash-out - Other

D

A

C

A

C

A

D

A

Non QM

Non QM

No

568836642

33726976

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Loan Estimate Timing Electronically Provided

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application.

Loan Estimate not delivered or placed in the mail to Borrower within three business days of application.

Reviewer Comment (2025-06-10): SitusAMC received 1004. Buyer Comment (2025-06-06): See docs provided Reviewer Comment (2025-06-03): The timing for the LE under § [Redacted](e)(1)(iii) is three business days from application. Initial LE issued [Redacted].  On this loan, the LE should have been issued within 3 business days of the broker application date of [Redacted] (As per initial 1003 in file). Buyer Comment (2025-05-30): See docs provided

06/10/2025

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

563167891

33726982

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Business Narrative document is not provided

Reviewer Comment (2025-05-30): Received and associated business narrative document for [Redacted]. Exception Cleared. Buyer Comment (2025-05-30): See docs provided

05/30/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

563167891

33726983

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Missing tax and insurance verification

Reviewer Comment (2025-06-17): Received and associated corrected final 1003 for REO property "[Redacted]". Exception Cleared. Buyer Comment (2025-06-13): See docs provided Reviewer Comment (2025-06-03): EXCEPTION HISTORY - Exception Detail was updated on [Redacted] PRIOR Exception Detail: Address: [Redacted], Address: [Redacted], Address: [Redacted] EXCEPTION HISTORY - Exception Explanation was updated on [Redacted] PRIOR Exception Explanation: Insurance Verification, Tax Verification Tax Verification Tax Verification Reviewer Comment (2025-05-30): Provided HOA Verification document reflects$[Redacted], As per mortgage statement Tax and Insurance Escrowed for REO Property "[Redacted]", however, final 1003 listed other payment as $[Redacted]. Please provide supporting document for other payment of $[Redacted]. Exception remains Buyer Comment (2025-05-30): See docs provided

06/17/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

563167891

33726984

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Missing income documentation required per guidelines. (business narrative).

Reviewer Comment (2025-05-30): Received and associated business narrative document for [Redacted]. Exception Cleared. Buyer Comment (2025-05-30): See docs provided

05/30/2025

1

B

A

C

A

B

A

C

A

B

A

AZ

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

563167891

33726985

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Missing income documentation required per guidelines. (business narrative).

Reviewer Comment (2025-05-30): Received and associated business narrative document for [Redacted]. Exception Cleared. Buyer Comment (2025-05-30): See docs provided

05/30/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

563167891

33726988

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing CPA validation.

Reviewer Comment (2025-06-19): Documentation provided; exception cleared. Buyer Comment (2025-06-17): See docs provided Reviewer Comment (2025-06-03): The same CPA Letter was provided; however, per guidelines, validation of the license/PTIN is required. Buyer Comment (2025-05-30): See docs provided

06/19/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

502256735

33727015

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Title Policy is Preliminary or Commitment, and not a Final Title Policy.

Reviewer Comment (2025-06-09): Received and associated Title Final with title policy amount $[Redacted]. Exception cleared.

06/09/2025

1

A

A

A

A

A

A

A

A

A

A

CA

Primary

Refinance - Cash-out - Other

B

A

B

A

A

A

A

A

Non QM

Non QM

No

502256735

33727016

Credit

Title

Document Error

Title

The Preliminary title policy is within CA or NV and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided.

The Preliminary title policy is within [Redacted] or [Redacted] and does not reflect a coverage amount (no final title policy in file). Unable to determine if appropriate coverage is provided

Reviewer Comment (2025-06-09): Received and associated Title Final with title policy amount $[Redacted]. Exception cleared. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Refinance - Cash-out - Other

B

A

B

A

A

A

A

A

Non QM

Non QM

No

554892915

33727029

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of  $[Redacted]is less than Cash From Borrower $[Redacted]. Business Accounts were used to qualify. Require CPA or Borrower letter stating use of Business funds will not negatively affect the Business. Gift Funds were used to qualify. Evidence of Transfer of funds was not provided.

Reviewer Comment (2025-06-16): Received and associated LOE from borrower stating that use of business funds will not have a negative impact on the business. Exception cleared. Buyer Comment (2025-06-12): See docs provided Reviewer Comment (2025-06-09): Gift docs provided, borrower still short funds for closing, Missing evidence of access to use business funds for closing, exception remains. Reviewer Comment (2025-06-09): EXCEPTION HISTORY - Exception Explanation was updated on [Redacted] PRIOR Exception Explanation: Documented qualifying Assets for Closing of  $[Redacted] is less than Cash From Borrower $[Redacted]. Buyer Comment (2025-06-05): See docs provided

06/16/2025

1

C

A

C

A

C

A

C

A

C

A

NC

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

554892915

33727031

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

Business Accounts were used to qualify. Require CPA or Borrower letter stating use of Business funds will not negatively affect the Business. Gift Funds were used to qualify. Evidence of Transfer of funds was not provided.

Reviewer Comment (2025-06-09): Gift documentation provided. Reviewer Comment (2025-06-09): Gift docs provided, borrower still short funds for closing, Missing evidence of access to use business funds for closing, exception remains. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

NC

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

554892915

33727032

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Waterfall finding due to the missing asset documentation, resulting in a loan designation discrepancy.

Reviewer Comment (2025-06-09): Gift documentation provided. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

B

A

C

A

B

A

C

A

B

A

NC

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

554892915

33727033

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Waterfall finding due to the missing asset documentation.

Reviewer Comment (2025-06-09): Gift documentation provided. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

NC

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

554892915

33727034

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Waterfall finding due to the missing asset documentation.

Reviewer Comment (2025-06-09): Gift documentation provided. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

NC

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

587962535

33727038

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

The Title Policy Amount of $[Redacted] is less than the note amount of $[Redacted] based on the Commitment in file.

Reviewer Comment (2025-06-06): Documentation provided; exception cleared. Buyer Comment (2025-06-05): See docs provided

06/06/2025

1

B

A

B

A

B

A

B

A

B

A

MA

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

587962535

33727040

Credit

Credit

Credit Calculation / Analysis

Guideline

Guideline Requirement: Representative FICO score discrepancy.

Representative FICO score of [Redacted] is less than Guideline representative FICO score of [Redacted]. Lender requested exception for borrower with qualifying FICO of [Redacted]. Lender exception approval was not provided.

Reviewer Comment (2025-06-12): The client changed the loan program to [Redacted], exception cleared. Reviewer Comment (2025-06-12): [Redacted] did not approve exception request Reviewer Comment (2025-06-12): waived in error Reviewer Comment (2025-06-09): The client elects to waive. Buyer Comment (2025-06-05): See docs provided

06/12/2025

1

C

A

C

A

C

A

C

A

C

A

MA

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

511828547

33727048

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Missing Income documentation. Missing Business Narrative document.

Reviewer Comment (2025-06-11): Documentation provided; exception cleared. Buyer Comment (2025-06-09): See uploaded business narrative attached to condition #[Redacted]

06/11/2025

1

B

A

C

A

B

A

C

A

B

A

GA

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

D

A

D

A

C

A

A

A

Non QM

Non QM

Yes

511828547

33727050

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Missing Income documentation. Missing Business Narrative document.

Reviewer Comment (2025-06-11): Documentation provided; exception cleared. Buyer Comment (2025-06-09): See uploaded business narrative attached to condition #[Redacted]

06/11/2025

1

C

A

C

A

C

A

C

A

C

A

GA

Primary

Purchase

D

A

D

A

C

A

A

A

Non QM

Non QM

No

511828547

33727051

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  No valid Change of Circumstance found in file and no evidence of a tolerance cure.

Reviewer Comment (2025-06-10): [Redacted] received a valid COC. Buyer Comment (2025-06-09): See Uploaded Final CD and COC

06/10/2025

1

C

A

C

A

C

A

C

A

C

A

GA

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

A

D

A

C

A

A

A

Non QM

Non QM

Yes

511828547

33727052

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Require updated Final 1003. 1003 states Borrower was renting at [Redacted] for $[Redacted] per month. Letter in file states Borrower lives at address rent free.

Reviewer Comment (2025-06-11): Documentation provided; exception cleared. Buyer Comment (2025-06-09): See Uploaded, corrected 1003

06/11/2025

1

C

A

C

A

C

A

C

A

D

A

GA

Primary

Purchase

D

A

D

A

C

A

A

A

Non QM

Non QM

No

511828547

33727053

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Missing Business Narrative document.

Reviewer Comment (2025-06-11): Documentation provided; exception cleared. Buyer Comment (2025-06-09): See Uploaded Business Narrative

06/11/2025

1

C

A

C

A

C

A

C

A

C

A

GA

Primary

Purchase

D

A

D

A

C

A

A

A

Non QM

Non QM

No

527737333

33727091

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-06-09): Sufficient Cure Provided At Closing

06/09/2025

1

A

A

A

A

A

A

A

A

A

A

WI

Primary

Purchase

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

Yes

506188134

33727094

Compliance

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $[Redacted] exceeds tolerance of $[Redacted]plus [Redacted]% or $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-06-06): Sufficient Cure Provided At Closing

06/06/2025

1

A

A

A

A

A

A

A

A

A

A

TX

Primary

Purchase

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

Yes

511586504

33727111

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-06-18): EMD docs provided, exception cleared. Buyer Comment (2025-06-16): See docs provided

06/18/2025

1

C

A

C

A

C

A

C

A

C

A

CO

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

511586504

33727112

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-06-18): EMD docs provided, exception cleared. Buyer Comment (2025-06-16): See docs provided

06/18/2025

1

B

A

C

A

B

A

C

A

B

A

CO

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

511586504

33727113

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-06-18): EMD docs provided, exception cleared.

06/18/2025

1

C

A

C

A

C

A

C

A

C

A

CO

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

533586744

33727122

Compliance

Compliance

State Compliance

State Defect

Illinois SB 1894

[Redacted] - Certificate of Compliance or Exemption not attached to mortgage for recording.

Certificate of Compliance or Exemption not attached to mortgage for recording.

Reviewer Comment (2025-06-16): Documentation provided; exception cleared. Buyer Comment (2025-06-12): See doc provided

06/16/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Second Home

Refinance - Cash-out - Other

C

A

A

A

C

A

A

A

Non QM

Non QM

No

533586744

33727123

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Loan Estimate Timing Electronically Provided

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application.

Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application. (Initial/[Redacted]).

Reviewer Comment (2025-06-13): [Redacted] received LE Dated [Redacted] Buyer Comment (2025-06-12): See docs provided

06/13/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Second Home

Refinance - Cash-out - Other

C

A

A

A

C

A

A

A

Non QM

Non QM

No

548843525

33727151

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-06-16): Sufficient Cure Provided At Closing

06/16/2025

1

A

A

A

A

A

A

A

A

A

A

NJ

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

Yes

537301940

33727170

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by $[Redacted]. Provide updated policy reflecting minimum coverage of $[Redacted] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2025-06-09): Received replacement cost document confirms current coverage includes [Redacted]% replacement cost. Exception cleared. Buyer Comment (2025-06-05): See docs provided Reviewer Comment (2025-05-28): A Replacement Cost Estimator is required to determine whether the coverage amount will cover the cost of improvements as required by FNMA. Buyer Comment (2025-05-23): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

IL

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

537301940

33727171

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Borrower does not meet tradeline requirement. A lender exception from [Redacted] was provided, however missing lender exception from [Redacted].

The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months.

[Redacted] FICO

SitusAMC,Originator,Aggregator SitusAMC

Reviewer Comment (2025-05-23): The client elects to waive. Buyer Comment (2025-05-21): See [Redacted] exception

05/23/2025

2

C

B

C

B

C

B

C

B

C

B

IL

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

N/A

No

534593540

33727173

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Background Check not provided

A Fraud report was not provided.

Reviewer Comment (2025-05-29): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-05-28): Fraud report with OFAC uploaded to [Redacted]

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

OH

Investment

Purchase

C

A

C

A

A

A

N/A

No

534593540

33727174

Credit

Credit

Credit Documentation

Credit

Missing Document: OFAC not provided

Reviewer Comment (2025-05-29): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-05-28): *OFAC starts on page 11 :) Buyer Comment (2025-05-28): Fraud report with OFAC

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

OH

Investment

Purchase

C

A

C

A

A

A

N/A

No

534593540

33727175

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Reviewer Comment (2025-05-29): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-05-28): Fraud report with OFAC uploaded to [Redacted]

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

OH

Investment

Purchase

C

A

C

A

A

A

N/A

No

534593540

33727176

Credit

Credit

Credit Documentation

Credit

No evidence of fraud report in file

-

Reviewer Comment (2025-05-29): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-05-28): Fraud report with OFAC uploaded to [Redacted]

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

OH

Investment

Purchase

C

A

C

A

A

A

N/A

No

549259061

33727181

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

Reviewer Comment (2025-05-28): Received and associated Articles of Organization/Formation for [Redacted], a Limited Liability Company. Exception Cleared. Buyer Comment (2025-05-28): See Uploaded articles of Organization

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727182

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Assignment of Leases/Rents not provided

Assignment of Leases and Rents Rider was not provided.

Reviewer Comment (2025-05-29): Received and associated Assignment of Leases/Rents Rider. Exception Cleared. Buyer Comment (2025-05-28): See Uploaded Assignment of Leases and Rents Rider

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727183

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

Reviewer Comment (2025-05-28): Received and associated Business Purpose Certificate. Exception Cleared. Buyer Comment (2025-05-28): See Uploaded Business Purpose Certificate

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727184

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Certificate of Good Standing not provided

Reviewer Comment (2025-05-28): Received and associated Certificate of Good Standing for [Redacted], a Limited Liability Company. Exception Cleared. Buyer Comment (2025-05-28): See Uploaded Certificate of Good Standing Buyer Comment (2025-05-28): See Uploaded Flood Hazard Certification

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727185

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Purchase Agreement / Sales Contract not provided

Reviewer Comment (2025-05-28): Received and associated Purchase Agreement / Sales Contract for subject property. Exception cleared. Buyer Comment (2025-05-28): See Uploaded sales Contract

05/28/2025

1

D

A

D

A

D

A

D

A

D

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727186

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

Reviewer Comment (2025-05-28): Received and associated Operating Agreement for [Redacted], a Limited Liability Company. Exception Cleared. Buyer Comment (2025-05-28): See Uploaded Operating Agreement

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727187

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Document: Title Preliminary not provided

Reviewer Comment (2025-05-29): Received and associated Title Commitment with title policy amount $[Redacted]. Exception cleared. Buyer Comment (2025-05-28): See Uploaded Title Report

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727188

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Employer Identification Number (EIN) not provided

Reviewer Comment (2025-05-28): Received and associated Employer Identification Number (EIN) for [Redacted], a Limited Liability Company. Exception Cleared. Buyer Comment (2025-05-28): See Uploaded EIN assignment

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727189

Credit

Loan Package Documentation

Application / Processing

Insurance

Missing Document: Flood Certificate not provided

Reviewer Comment (2025-05-29): Received and associated Flood Certificate document. Exception Cleared. Buyer Comment (2025-05-29): See uploaded flood cert Reviewer Comment (2025-05-28): Please provide a copy of Flood Certificate. Exception remains. Buyer Comment (2025-05-28): See Uploaded Flood Hazard Certification

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727190

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Reviewer Comment (2025-05-29): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-05-29): See Uploaded Fraud Guard Reviewer Comment (2025-05-28): Please provide a copy of fraud report. Exception remains. Buyer Comment (2025-05-28): See Uploaded Drive Report

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727191

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

.

Reviewer Comment (2025-05-29): Received and associated Hazard Insurance Policy document. Exception Cleared. Buyer Comment (2025-05-29): See Uploaded HOI Cert Reviewer Comment (2025-05-28): Please provide a copy of Hazard Insurance Policy. Exception remains. Buyer Comment (2025-05-28): Hazard Insurance Binder

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727192

Credit

Loan Package Documentation

Closing / Title

Title

Title: Evidence of title is missing

Reviewer Comment (2025-05-28): Received and associated Title Commitment with title policy amount $[Redacted]. Exception cleared. Buyer Comment (2025-05-28): See uploaded Title Commitment Buyer Comment (2025-05-28): See uploaded Title Report

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727193

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

Reviewer Comment (2025-05-29): Received and associated Corporate Resolution for [Redacted], a Limited Liability Company. Exception Cleared. Buyer Comment (2025-05-29): See Uploaded LLC Resolution document

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727194

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Legal / Regulatory / Compliance

Final Title Policy is missing. No evidence of title in file.

Reviewer Comment (2025-05-28): Received and associated Title Commitment with title policy amount $[Redacted]. Exception cleared. Buyer Comment (2025-05-28): See uploaded Title Report

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727195

Credit

Investment Product

General Exception

Investment Product

Security Instrument Error: Assignment of Leases/Rents is not in the file and required by guidelines

-

Assignment of Leases and Rents Rider was not provided.

Reviewer Comment (2025-05-29): Received and associated Assignment of Leases/Rents. Exception Cleared. Buyer Comment (2025-05-28): See Uploaded Assignment of Leases and Rents Rider

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727196

Credit

Loan Package Documentation

Closing / Title

Missing Document

Missing Document: Rider - Other not provided

Missing Prepayment Rider

Reviewer Comment (2025-05-29): Received and associated Prepayment Rider. Exception Cleared. Buyer Comment (2025-05-28): See Uploaded Pre-Payment Rider

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

549259061

33727198

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Note Addendum - Prepayment not provided

Please Provide Note Addendum - Prepayment.

Reviewer Comment (2025-05-30): Received and associated Note Addendum - Prepayment Document. Exception Cleared. Buyer Comment (2025-05-30): See Uploaded Prepayment Addendum

05/30/2025

1

A

A

A

A

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

Yes

549259061

33727199

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by $[Redacted] . Provide updated policy reflecting minimum coverage of $[Redacted] OR provide copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2025-06-02): Received and Associated Replacement Cost Estimator document with $[Redacted]. Exception cleared. Buyer Comment (2025-06-02): See Uploaded Replacement Cost Estimate

06/02/2025

1

A

A

A

A

A

NY

Investment

Purchase

D

A

D

A

A

A

N/A

No

575984822

33727202

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Please verify policy includes [Redacted]% replacement coverage.

Reviewer Comment (2025-06-06): Received replacement cost document confirms current coverage includes [Redacted]% replacement cost. Exception cleared. Buyer Comment (2025-06-05): See docs provided

06/06/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

575984822

33727203

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing letter of explanation describing reason subject property is vacant.

Reviewer Comment (2025-06-09): Documentation provided; exception cleared. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

527140005

33727204

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

Business Purpose Certificate is missing.

Reviewer Comment (2025-06-17): Received and associated Business Purpose Certificate. Exception Cleared. Buyer Comment (2025-06-13): Business Purpose

06/17/2025

1

C

A

C

A

C

A

C

A

C

A

NC

Investment

Purchase

C

A

C

A

A

A

N/A

No

597252412

33727216

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal was made "subject to" and Form 1004D/442 was not provided.

-

Appraisal was made subject to and  Appraisal Update and/or Completion Report is not provided in file.

Reviewer Comment (2025-06-13): Received and associated Final Inspection / 442 document. Exception Cleared. Buyer Comment (2025-06-11): Completion report

06/13/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Purchase

C

A

A

A

C

A

N/A

No

535507252

33727217

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Purchase Agreement / Sales Contract not provided

Reviewer Comment (2025-06-09): Received and associated Purchase Agreement / Sales Contract for subject property. Exception cleared. Buyer Comment (2025-06-05): Purchase contract.

06/09/2025

1

D

A

D

A

D

A

D

A

D

A

CT

Investment

Purchase

D

A

D

A

A

A

N/A

No

511645699

33727226

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Reviewer Comment (2025-06-13): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-06-11): lender fraud report

06/13/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

A

C

A

A

A

N/A

No

511645699

33727227

Credit

Credit

Credit Documentation

Credit

No evidence of fraud report in file

-

Reviewer Comment (2025-06-13): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-06-11): lender fraud report uploaded to [Redacted]

06/13/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Purchase

C

A

C

A

A

A

N/A

No

528307480

33727257

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender approved exception for condo repairs.

Borrower has been employed in the same industry for more than [Redacted] years. Borrower has worked in the same position for more than [Redacted] years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

[Redacted] months reserves. Fico is [Redacted] points above guideline minimum.

SitusAMC SitusAMC Originator,SitusAMC SitusAMC Originator,SitusAMC

Reviewer Comment (2025-05-30): Lender exception in file.

05/30/2025

2

C

B

C

B

C

B

C

B

C

B

FL

Investment

Purchase

C

B

C

B

A

A

A

A

N/A

No

500084469

33809931

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

The Unanimous Consent of Members provided reflects a different person is authorized to execute documents than the member that signed the loan documents

Reviewer Comment (2025-05-12): Received required documentation. Condition cleared. Seller Comment (2025-05-07): CORP RESOLUTION CORP RESOLUTION.pdf (Unclassified) was uploaded Reviewer Comment (2025-04-11): Require corporate resolution document. Exception remains. Seller Comment (2025-04-10): Please see Deed of Bargain of sale [Redacted] DEED.pdf (Unclassified) was uploaded

05/12/2025

1

C

A

C

A

C

A

C

A

C

A

VA

Investment

Purchase

C

A

C

A

A

A

N/A

No

501202451

33809933

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of  $[Redacted] is less than Cash From Borrower $[Redacted].

Reviewer Comment (2025-04-30): Provided 1031 exchange statement. Exception cleared. Seller Comment (2025-04-29): Please be advised that there are two separate assets associated with the 1031 Exchange from sale of [Redacted]...1) [Redacted] (Exchange ID 206613) have a balance of $[Redacted]   2) [Redacted] (Exchange ID [Redacted]) has a balance of $[Redacted].  Documentation uploaded.  Thank you 1240 Weisbarth Assets.pdf (Credit Review Documentation) was uploaded

04/30/2025

1

C

A

C

A

C

A

C

A

C

A

TN

Investment

Purchase

C

A

C

A

A

A

N/A

No

594695874

33809936

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

Reviewer Comment (2025-05-05): Received Operating Agreement in the file. Exception Cleared. Seller Comment (2025-05-01): see llc docs uploaded

05/05/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

594695874

33809938

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Certificate of Good Standing not provided

Reviewer Comment (2025-05-05): Received Certificate of Good Standing in the file. Exception Cleared. Seller Comment (2025-05-01): see llc docs uploaded

05/05/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

594695874

33809939

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

Reviewer Comment (2025-05-05): Received Articles of Organization/Formation in the file. Exception Cleared. Seller Comment (2025-05-01): Please see LLC doc attached LLC DOCUMENTATION.pdf (Unclassified) was uploaded

05/05/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

594695874

33809940

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Flood insurance coverage amount is insufficient.

Flood insurance: $[Redacted]. Loan amount: $[Redacted]. Standard coverage for Flood insurance is $[Redacted].

Reviewer Comment (2025-05-05): Cleared. Located renewal in the file.

05/05/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

594695874

33809941

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

CPA letter, articles of organization and operating agreement not provided in file.

Reviewer Comment (2025-05-05): Received Operating agreement as a Evidence of Access to Funds in the file. Exception Cleared. Seller Comment (2025-05-01): see llc docs uploaded

05/05/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Investment

Refinance - Rate/Term

C

A

C

A

A

A

N/A

No

515754678

33809943

Credit

Missing Document

General

Missing Document

Missing Document: 1007 Rent Comparison Schedule not provided

Comparable rent schedule not provided in file.

Reviewer Comment (2025-05-08): Received [Redacted] statement. Condition cleared. Seller Comment (2025-05-07): this is a short term rental 1007 are required for long term rentals

05/08/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

515754678

33809944

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Debt Service Coverage Ratio (Subject DSCR) discrepancy.

Unable to ascertain DSCR; prior lease rate, comparable rent schedule and Lease Agreement not provided in file.

Reviewer Comment (2025-05-08): Received [Redacted] statement. Condition cleared. Seller Comment (2025-05-05): [Redacted] shows rent Rent.pdf (Unclassified) was referenced

05/08/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

515754678

33809945

Credit

Credit

Credit Documentation

Credit

There is no lease in place for the subject property and the absence of this document casts doubt on business purpose of loan.

Cash-out refinance, lease agreement not provided.

Reviewer Comment (2025-05-08): Received [Redacted] statement. Condition cleared. Seller Comment (2025-05-05): [Redacted] for rent Rent.pdf (Unclassified) was referenced

05/08/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

N/A

No

529687866

33809952

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Loan discount points not disclosed until final CD. No valid change in circumstance or cure for borrower provided.

Reviewer Comment (2025-05-09): [Redacted] received valid COC dated [Redacted] Buyer Comment (2025-05-08): Submitted COC for review.

05/09/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

C

A

C

A

A

A

Non QM

Non QM

No

529687866

33809953

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

A VOR for [Redacted] Month Housing History is not located in the file.  The 1008 states that is in not required due AUS requirement however an AUS/DU is not located in the file.

Reviewer Comment (2025-04-14): As per AUS VOR is not required. Exception cleared Buyer Comment (2025-04-14): Submitted DU with Credit, Lock Confirmation 1008, and Approval showing Flex product at time of closing.

04/14/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

566946711

33809955

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

-

Statement missing for investment property located at [Redacted].

Reviewer Comment (2025-04-28): Closing disclosure confirms the PITIA, exception cleared. Seller Comment (2025-04-25): [Redacted] (Credit Review Documentation) was uploaded

04/28/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

A

A

N/A

N/A

No

525773027

33809959

Credit

Guideline

Guideline Issue

Guideline

Delayed Financing indicated and Delayed Financing Guidelines are not met.

Lenders write up reflects transaction is delayed financing due to seasoning. A copy of the final CD from the purchase of the subject was not located in the file

Reviewer Comment (2025-05-06): Received required documentation. Condition cleared. Seller Comment (2025-05-01): see attached to clear [Redacted] (Unclassified) was uploaded

05/06/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

595487509

33809963

Compliance

Compliance

Federal Compliance

TRID

ECOA Appraisal Disclosure - ECOA Timing

ECOA - File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure within 3 days of the loan application date.

File does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure within 3 days of the loan application date.

Reviewer Comment (2025-05-08): Received required documentation. Condition cleared. Buyer Comment (2025-05-06): Submitted ILE [Redacted] for review. Reviewer Comment (2025-05-06): The [Redacted] LE is not present in the loan file.  Please provide the [Redacted] LE for review. Buyer Comment (2025-05-05): Submitted Disclosure Tracking Reasons reflecting all documents sent to borrower within 3 days of application on [Redacted], including the Initial LE, Right to Receive Appraisal, and Flood Hazard Notice. Reviewer Comment (2025-05-05): Disclosure summary does not confirm which disclosure was issued in initial package. and Right to received copy not signed. Buyer Comment (2025-05-02): Submitted Appraisal Disclosure for review. This document was part of the RESPA package sent to the borrower on [Redacted] per the Disclosure Tracking Summary under doc ID D0272.

05/08/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Second Home

Refinance - Rate/Term

C

A

A

A

C

A

A

A

Non QM

Non QM

No

595487509

33809964

Compliance

Compliance

Federal Compliance

Missing Disclosure

Acknowledgement of Borrower Receipt of Notice of Special Flood Hazard Disclosure Missing

FDPA Notification Rule: Creditor did not retain record of borrower's receipt of Notice of Special Flood Hazard Disclosure.

Creditor did not retain record of borrower's receipt of Notice of Special Flood Hazard Disclosure

Reviewer Comment (2025-05-12): Signed disclosure received. Buyer Comment (2025-05-09): Submitted signed and dated copy of Notice of Special Flood Hazard Disclosure for review. Reviewer Comment (2025-05-08): The issue here is the disclosure was not signed by the borrower's. Buyer Comment (2025-05-05): Submitted Disclosure Tracking Reasons reflecting all documents sent to borrower within 3 days of application on [Redacted], including the Initial LE, Right to Receive Appraisal, and Flood Hazard Notice. Reviewer Comment (2025-05-05): Disclosure summary does not confirm which disclosure was issued in initial package. Buyer Comment (2025-05-02): Submitted Homeownership Counseling List for review. This document was part of the RESPA package sent to the borrower on [Redacted] per the Disclosure Tracking Summary under doc ID D0272. Buyer Comment (2025-05-02): Flood Hazard Disclosure under doc ID D0227 dated [Redacted] was included in the RESPA package to the borrower with a Sent date of [Redacted] and a Receipt date of [Redacted] per the Disclosure Tracking Summary under doc ID D0272.

05/12/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Second Home

Refinance - Rate/Term

C

A

A

A

C

A

A

A

Non QM

Non QM

No

595487509

33809965

Compliance

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Dodd-Frank 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

Creditor did not provide List of Homeownership Counseling Organizations to borrower.

Reviewer Comment (2025-05-05): Homeownership Counseling List received, Exception Cleared. Buyer Comment (2025-05-02): Submitted Homeownership Counseling List for review. This document was part of the RESPA package sent to the borrower on [Redacted] per the Disclosure Tracking Summary under doc ID D0272.

05/05/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Second Home

Refinance - Rate/Term

C

A

A

A

C

A

A

A

Non QM

Non QM

No

595487509

33809966

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Loan Estimate Timing

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application.

Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application.

Reviewer Comment (2025-05-08): Received required documentation. Condition cleared. Buyer Comment (2025-05-06): Submitted ILE [Redacted] for review. Reviewer Comment (2025-05-06): The [Redacted] LE is not present in the loan file.  Please provide the [Redacted] LE for review. Buyer Comment (2025-05-02): Disclosure Tracking Summary under doc ID D0272 reflects the initial LE Sent Date of [Redacted] and a Received Date of [Redacted].

05/08/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Second Home

Refinance - Rate/Term

No Defined Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

595487509

33809967

Compliance

Compliance

Federal Compliance

TRID

TRID Settlement Service Provider Status

TILA-RESPA Integrated Disclosure: Borrower not provided with list of service providers.

Borrower not provided with list of service providers.

Reviewer Comment (2025-05-05): Settlement service provider list received, exception cleared.

05/05/2025

1

A

A

A

A

A

A

A

A

A

A

FL

Second Home

Refinance - Rate/Term

No Defined Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

595487509

33809968

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Abstract / Title Search.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Title - Abstract / Title Search. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-05-05): Settlement service provider list received, exception cleared. Buyer Comment (2025-05-02): Submitted SSPL for review. The fees referenced in Section C totaling $[Redacted] (items 01, 02, and 04) are paid to [Redacted]., which is a service the borrower did shop for. [Redacted]. is not referenced on the SSPL; therefore, the fees would fall within the no tolerance limit.

05/05/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Second Home

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

No

595487509

33809969

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title - Processing Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Title - Processing Fee. Fee Amount of $[Redacted]exceeds tolerance of $[Redacted]. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-05-05): Settlement service provider list received, exception cleared. Buyer Comment (2025-05-02): The $[Redacted] fee referenced in Section C, item 10, is paid to [Redacted]. which is a service the borrower did shop for. [Redacted]. is not referenced on the SSPL; therefore, the fee would fall within the no tolerance limit.

05/05/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Second Home

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

No

560925388

33809974

Compliance

Compliance

State Compliance

State Defect

South Carolina Home Loan (Acknowledgement of Receipt of Complaint Agency Disclosure Not In File)

[Redacted] Home Loan: Borrower did not acknowledge receipt of document specifying the agency designated to receive complaints or inquiries about the origination and making of the loan.

The signed/dated document was not located in the file.

Reviewer Comment (2025-05-02): Disclosure provided. Buyer Comment (2025-05-02): South Carolina Regulatory Agency To Receive Borrower Complaints disclosure uploaded for review.

05/02/2025

1

C

A

C

A

C

A

C

A

C

A

SC

Primary

Refinance - Rate/Term

C

A

A

A

C

A

A

A

Non QM

Non QM

No

560925388

33809975

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-05-02): Sufficient Cure Provided At Closing

05/02/2025

1

A

A

A

A

A

A

A

A

A

A

SC

Primary

Refinance - Rate/Term

Final CD evidences Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

540470775

33809977

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender Approved exception for Borrower purchasing current residence from deceased grandfather's trust , currently living rent free

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least X months. Borrowers made a down payment from their own funds on this purchase transaction of at least [Redacted]% and $[Redacted]. The representative FICO score exceeds the guideline minimum by at least [Redacted] points. Borrower has verified disposable income of at least $[Redacted].

Guidelines Representative FICO: 700 Representative FICO: [Redacted]

SitusAMC SitusAMC Aggregator,SitusAMC SitusAMC

Reviewer Comment (2025-05-02): Client elected to waive exceptions with compensating factors.

05/02/2025

2

B

B

B

B

B

B

B

B

B

B

CA

Primary

Purchase

B

B

B

B

A

A

A

A

Non QM

Non QM

No

576184265

33809982

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Appraisal fee amount of $[Redacted]exceeds tolerance of $[Redacted]. Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-05-07): Sufficient Cure Provided At Closing

05/07/2025

1

A

A

A

A

A

A

A

A

A

A

VT

Primary

Purchase

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

No

576184265

33809983

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Credit report fee amount of $[Redacted]exceeds tolerance of $[Redacted]. Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-05-07): Sufficient Cure Provided At Closing

05/07/2025

1

A

A

A

A

A

A

A

A

A

A

VT

Primary

Purchase

Final CD evidences Cure

A

A

A

A

A

A

A

A

Non QM

Non QM

No

598067562

33809988

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Reserves of [Redacted] has been verified however [Redacted] months reserve is required.  The 1008 notes an exception for the reserve shortage however the lender exception request and approval document is not located in the file.

Reviewer Comment (2025-05-16): Per lender guides, a minimum of [Redacted] months reserves can be acceptable on a case by case basis. Condition cleared. Buyer Comment (2025-05-15): Per guidelines section [Redacted] RESERVE REQUIREMENTS "A variance may be allowed but never less than [Redacted] months less than program requirements with underwriter justification and compensating factors", an approved credit exception is not required.

05/16/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

598067562

33809989

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Reviewer Comment (2025-05-16): Per lender guides, a minimum of [Redacted] months reserves can be acceptable on a case by case basis. Condition cleared. Buyer Comment (2025-05-15): Per guidelines section [Redacted] RESERVE REQUIREMENTS "A variance may be allowed but never less than [Redacted] months less than program requirements with underwriter justification and compensating factors", an approved credit exception is not required.

05/16/2025

1

B

A

C

A

B

A

C

A

B

A

CA

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

A

C

A

C

A

A

A

Non QM

Non QM

No

598067562

33809990

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Based on the loan failing one or more guideline components, the loan is at ATR risk.

Reviewer Comment (2025-05-16): Per lender guides, a minimum of 3 months reserves can be acceptable on a case by case basis. Condition cleared. Buyer Comment (2025-05-15): Per guidelines section [Redacted] RESERVE REQUIREMENTS "A variance may be allowed but never less than [Redacted] months less than program requirements with underwriter justification and compensating factors", an approved credit exception is not required.

05/16/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

598067562

33809991

Credit

Asset

Asset Documentation

Asset

Asset documentation requirements not met.

Reserves of [Redacted] has been verified however 6 months reserve is required.  The 1008 notes an exception for the reserve shortage however the lender exception request and approval document is not located in the file.

Reviewer Comment (2025-05-16): Per lender guides, a minimum of 3 months reserves can be acceptable on a case by case basis. Condition cleared. Buyer Comment (2025-05-15): Per guidelines section [Redacted] RESERVE REQUIREMENTS "A variance may be allowed but never less than 3 months less than program requirements with underwriter justification and compensating factors", an approved credit exception is not required.

05/16/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

598067562

33809992

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Provided Prior to Date Performed

ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements.

Reviewer Comment (2025-05-16): Appraisal delivery confirmation document received, Exception Cleared. Buyer Comment (2025-05-15): Proof that the [Redacted] appraisal report was sent and downloaded by the borrower on [Redacted] was provided in the initial shipping package Doc ID D0364 page 204.

05/16/2025

1

B

A

B

A

B

A

B

A

B

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

598067562

33809994

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Income/Asset Guideline Deficiency - ATR Impact

Ability to Repay (Dodd-Frank 2014): There are guideline deficiencies related to income and/or asset doc requirements which could result in a risk to the borrower's ability to repay.  (Exception is eligible to be regraded with compensating factors.)

Reserves of [Redacted] has been verified however [Redacted] months reserve is required.  The 1008 notes an exception for the reserve shortage however the lender exception request and approval document is not located in the file.

Reviewer Comment (2025-05-16): Per lender guides, a minimum of 3 months reserves can be acceptable on a case by case basis. Condition cleared. Buyer Comment (2025-05-15): Per guidelines section [Redacted] RESERVE REQUIREMENTS "A variance may be allowed but never less than 3 months less than program requirements with underwriter justification and compensating factors", an approved credit exception is not required.

05/16/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

C

A

C

A

A

A

Non QM

Non QM

No

505837892

33823635

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure No Seller Paid Fees Primary Residence First Lien

TRID Final Closing Disclosure [Redacted] on a first lien purchase transaction did not disclose any Seller paid fees/charges on page 2.

The file was missing a copy of the seller CD.

Reviewer Comment (2025-06-27): [Redacted] received settlement attorney attestation confirming seller fees paid by seller not listed on borrower CD Buyer Comment (2025-06-27): Attorney attestation attached Reviewer Comment (2025-06-17): [Redacted] received Seller Cd but no fees were listed. Please provide Seller CD with seller paid fees noted or final ALTA signed stamped closing statement showing seller paid fees. Buyer Comment (2025-06-16): Settlement statement with seller fees. Reviewer Comment (2025-06-11): [Redacted] received Seller CD. However, require copy of Final Seller Settlement Statement to verify the fees paid by seller at closing. Sales contract states Buyer pays all closing costs, however, there are realtors involved which Seller would typically pay those costs. Buyer Comment (2025-06-10): Seller CD

06/27/2025

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

D

A

D

A

C

A

A

A

Non QM

Non QM

Yes

505837892

33823636

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Pest Inspection Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Pest Inspection Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-06-11): [Redacted] received attestation stating pest inspection was chosen by borrower. Buyer Comment (2025-06-10): Lender attestation. Reviewer Comment (2025-05-29): [Redacted] received rebuttal comment but from the file we are unable to identify if the fee is lender required or title required. If the borrower-chosen service provider further outsourced the Fee, an attestation or comment on exception from the seller is needed.  The attestation/letter should confirm that the service was outsourced by the borrower-chosen provider and is not lender required. This attestation would allow us to test the fee under the no tolerance category with the understanding that the new fee added on the CD was imposed by a provider through which the borrower indirectly selected. Buyer Comment (2025-05-28): Sec C of CD unlimited tolerance - pest inspection fee. Borrower shopped for service.

06/11/2025

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

D

A

D

A

C

A

A

A

Non QM

Non QM

Yes

505837892

33823637

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

The file was missing a copy of the Business Narrative

Reviewer Comment (2025-06-06): Received and associated business narrative document for [Redacted]. Exception Cleared. Buyer Comment (2025-06-05): Business Narrative

06/06/2025

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

D

A

D

A

C

A

A

A

Non QM

Non QM

No

505837892

33823639

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Reviewer Comment (2025-05-27): Received and associated Loan Underwriting and Transmittal Summary (1008) / MCAW. Exception cleared. Buyer Comment (2025-05-22): Attached Buyer Comment (2025-05-22): 1008

05/27/2025

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

D

A

D

A

C

A

A

A

Non QM

Non QM

No

505837892

33823640

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Rent Free Letter or Letter of Explanation for no primary housing expense was not provided.

Reviewer Comment (2025-05-29): Received and associated Rent Free Letter. Exception cleared. Buyer Comment (2025-05-28): Rent free letter

05/29/2025

1

C

A

C

A

C

A

C

A

D

A

AL

Primary

Purchase

D

A

D

A

C

A

A

A

Non QM

Non QM

No

505837892

33823641

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Missing third party verification of business dated within [Redacted] days prior to the Note date.

Reviewer Comment (2025-06-06): Received and associated business narrative document for [Redacted]. Exception Cleared. Buyer Comment (2025-06-05): Business Narrative uploaded to [Redacted] Reviewer Comment (2025-05-30): Third party verif provided, still missing business narrative. Buyer Comment (2025-05-28): Business search Buyer Comment (2025-05-28): Business verification

06/06/2025

1

B

A

C

A

B

A

C

A

B

A

AL

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

D

A

D

A

C

A

A

A

Non QM

Non QM

Yes

505837892

33823642

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Missing third party verification of business dated within [Redacted] days prior to the Note date.

Reviewer Comment (2025-06-06): Received and associated business narrative document for [Redacted]. Exception Cleared. Buyer Comment (2025-06-05): Business Narrative uploaded to [Redacted] Reviewer Comment (2025-05-30): Third party verif provided, still missing business narrative. Buyer Comment (2025-05-28): Uploaded to [Redacted]

06/06/2025

1

C

A

C

A

C

A

C

A

C

A

AL

Primary

Purchase

D

A

D

A

C

A

A

A

Non QM

Non QM

No

559287846

33823643

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

HOI coverage is insufficient by $[Redacted]. Provide updated policy reflecting minimum coverage of $[Redacted]OR Provide copy of insurer's replacement cost estimate supporting current coverage amount.

Reviewer Comment (2025-06-24): Policy includes replacement cost coverage. Reviewer Comment (2025-06-18): HOI coverage is insufficient by $[Redacted]. Provide updated policy reflecting minimum coverage of $[Redacted] ([Redacted]+[Redacted]+[Redacted]) or provide copy of insurer's replacement cost estimate supporting current coverage amount or percentage (%). Exception remains. Buyer Comment (2025-06-16): See dec page with replacement cost - similar construction. Reviewer Comment (2025-06-09): The $[Redacted] add'l dwelling coverage is already included, exception remains. Buyer Comment (2025-06-05): See docs provided

06/24/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

559287846

33823647

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing business narrative.

Reviewer Comment (2025-06-09): Documentation provided; exception cleared. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

573884843

33823662

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Non-Compliant Higher Priced Mortgage Loan.

APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.

Reviewer Comment (2025-06-24): Documentation provided; exception cleared. Buyer Comment (2025-06-20): LOE, no additional appraisal versions. Buyer Comment (2025-06-20): Initial appraisal Reviewer Comment (2025-06-18): Please provide a copy of the initial appraisal, (the doc says the appraisal received on [Redacted] was a revised copy). Also, please provide a copy of the appraisal that was provided on [Redacted]. Buyer Comment (2025-06-16): Appraisal delivery [Redacted] uploaded to [Redacted]. Reviewer Comment (2025-06-12): Appraisal not provided at least 3 business days prior to closing. Buyer Comment (2025-06-12): Proof of appraisal delivery attached

06/24/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

573884843

33823663

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2025-06-24): Documentation provided; exception cleared. Buyer Comment (2025-06-20): Initial appraisal and LOE stating no additional appraisal versions uploaded to [Redacted] Reviewer Comment (2025-06-18): Please provide a copy of the initial appraisal, (the doc says the appraisal received on [Redacted] was a revised copy). Also, please provide a copy of the appraisal that was provided on [Redacted]. Buyer Comment (2025-06-16): Appraisal delivery [Redacted] Reviewer Comment (2025-06-12): Appraisal not provided at least 3 business days prior to closing. Buyer Comment (2025-06-12): Please see proof of appraisal delivery

06/24/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

573884843

33823667

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is equal to or greater than the threshold of APOR [Redacted]% + [Redacted]%, or [Redacted]%.  Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2025-06-24): Documentation provided; exception clear.

06/24/2025

1

A

A

A

A

A

CA

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

573884843

33823668

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of revised valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2025-06-24): Documentation provided; exception cleared.

06/24/2025

1

A

A

A

A

A

CA

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

573884843

33823669

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Timing of Appraisal to Consumer)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Creditor did not provide a copy of each valuation to applicant three (3) business days prior to consummation.

Reviewer Comment (2025-06-30): Documentation provided; exception cleared. Buyer Comment (2025-06-26): Appraisal delivery [Redacted]

06/30/2025

1

A

A

A

A

A

CA

Primary

Purchase

C

A

A

A

C

A

A

A

Non QM

Non QM

No

553321988

33823676

Compliance

Compliance

Federal Compliance

Missing Disclosure

Notice of Special Flood Hazard Disclosure Not Provided Timely

FDPA Notification Rule: Creditor did not provide a Notice of Special Flood Hazard Disclosure within a reasonable time prior to closing.

Creditor did not provide a Notice of Special Flood Hazard Disclosure within a reasonable time prior to closing.

Reviewer Comment (2025-06-16): Documentation provided; exception cleared. Buyer Comment (2025-06-12): See docs provided Reviewer Comment (2025-06-10): Disclosure should have been provided prior to closing. Buyer Comment (2025-06-06): See docs provided

06/16/2025

1

B

A

B

A

B

A

B

A

B

A

FL

Second Home

Refinance - Rate/Term

B

A

A

A

B

A

A

A

Non QM

Non QM

No

508983883

33823683

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Loan Estimate Timing Electronically Provided

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application.

Loan Estimate not delivered or placed in the mail to Borrower within three business days of application.

Reviewer Comment (2025-06-12): [Redacted] received initial LE dated [Redacted]. Buyer Comment (2025-06-11): See docs provided

06/12/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Refinance - Rate/Term

C

B

C

A

C

B

A

A

Non QM

Non QM

No

508983883

33823684

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Reviewer Comment (2025-06-17): [Redacted] received a valid COC. Buyer Comment (2025-06-16): See docs provided Reviewer Comment (2025-06-12): [Redacted] received COC dated [Redacted] for lock extension but the discount points were added on final CD dated [Redacted] which is not within 3 business days from the date of change. Please provide more information on adding the fee or cure would be required. Buyer Comment (2025-06-11): See docs provided

06/17/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Refinance - Rate/Term

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

508983883

33823685

Compliance

Compliance

Federal Compliance

TILA Right-to-Cancel Missing, Incorrect, Incomplete and/or provided on the wrong form

TILA Rescission - Disbursement Date Less than 3 Business Days From Transaction Date

Truth in Lending Act:  Subject loan transaction disbursed on [Redacted], prior to three (3) business days from transaction date of [Redacted].

Subject loan transaction disbursed on [Redacted] prior to three business days from transaction date of [Redacted].

Reviewer Comment (2025-06-24): Rescission cure provided. Buyer Comment (2025-06-20): See docs provided

06/24/2025

2

C

B

C

B

C

B

C

B

C

B

NJ

Primary

Refinance - Rate/Term

TILA ROR - Provide the following: Letter of Explanation, Proof of Delivery, and Re-open Rescission using the correct model form

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

508983883

33823687

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

-

Missing [Redacted] individual tax returns. The guidelines require two years tax returns for full doc loans.

Reviewer Comment (2025-06-12): Client changed program to [Redacted] yr full doc, exception cleared.

06/12/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Refinance - Rate/Term

C

B

C

A

C

B

A

A

Non QM

Non QM

No

508983883

33823688

Credit

Asset

Asset Calculation / Analysis

Asset

Guideline Requirement: Available for Reserves discrepancy.

Missing cash flow analysis for use of business funds.

Reviewer Comment (2025-06-12): Client changed program to [Redacted] , reserve requirement changed to 8 months, new exception added. Buyer Comment (2025-06-11): See docs provided

06/12/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Refinance - Rate/Term

C

B

C

A

C

B

A

A

Non QM

Non QM

No

508983883

33823689

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

Ability to Repay (Dodd-Frank 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-06-18): Documentation provided; exception cleared. Buyer Comment (2025-06-16): See docs provided Reviewer Comment (2025-06-12): We need either more assets, or a cpa letter or other documentation that verifies borrower's percentage of business ownership for use of business funds for reserves, exception remains. Buyer Comment (2025-06-11): See docs provided

06/18/2025

1

B

A

C

A

B

A

C

A

B

A

NJ

Primary

Refinance - Rate/Term

Lender to provide updated ATR/QM Loan Designation

C

B

C

A

C

B

A

A

Non QM

Non QM

Yes

508983883

33823690

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Dodd-Frank 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-06-18): Documentation provided; exception cleared. Reviewer Comment (2025-06-12): We need either more assets, or a cpa letter or other documentation that verifies borrower's percentage of business ownership for use of business funds for reserves, exception remains. Buyer Comment (2025-06-11): See docs provided

06/18/2025

1

C

A

C

A

C

A

C

A

C

A

NJ

Primary

Refinance - Rate/Term

C

B

C

A

C

B

A

A

Non QM

Non QM

No

508983883

33823691

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Insufficient assets verified to meet reserve requirement.

Reviewer Comment (2025-06-18): Documentation provided; exception cleared. Buyer Comment (2025-06-16): See docs provided

06/18/2025

1

A

A

A

A

A

NJ

Primary

Refinance - Rate/Term

C

B

C

A

C

B

A

A

Non QM

Non QM

No

561511095

33823697

Credit

Disclosure

Missing Document

Disclosure

E-sign Consent Agreement is missing.

-

Reviewer Comment (2025-06-16): Received and associated E-Sign Consent Agreement document. Exception cleared. Buyer Comment (2025-06-12): see docs provided

06/16/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

C

A

C

A

C

A

A

A

Non QM

Non QM

No

561511095

33823701

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Amount Financed Test

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted] disclosed an Amount Financed disclosed an inaccurate Amount Financed. The disclosed Amount Financed in the amount of $[Redacted]is over disclosed by $[Redacted]compared to the calculated Amount Financed of $[Redacted]and the disclosed Finance Charge is not accurate within applicable tolerances for Amount Financed to be considered accurate (fee amounts included in Amount Financed and Finance Charge calculations are based on Closing Disclosure dated [Redacted]).

Disclosed Amount Financed is $[Redacted]. Calculated Amount Financed is $[Redacted]. Variance of $[Redacted].

Reviewer Comment (2025-06-18): Upon further review the Amount Financed was correctly disclosed to consumer Buyer Comment (2025-06-17): See docs provided Reviewer Comment (2025-06-13): Please provide documentation or LOA indicating the Tax Certificate is a one-time fee and not a Life-of-loan fee. Buyer Comment (2025-06-12): See docs provided

06/18/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

561511095

33823702

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Finance Charge

TILA-RESPA Integrated Disclosure - Loan Calculations: Final Closing Disclosure provided on [Redacted]disclosed an inaccurate Finance Charge on page 5 that does not match the actual Finance Charge for the loan.  The disclosed Finance Charge in the amount of $[Redacted]is under disclosed by $[Redacted]compared to the calculated Finance Charge of $[Redacted]which exceeds the $[Redacted]threshold (fee amounts included in Finance Charge calculation are based on Closing Disclosure dated [Redacted]).

Disclosed Finance Charge of $[Redacted]. Calculated Finance Charge of $[Redacted]. Variance of -$[Redacted].

Reviewer Comment (2025-06-18): Upon further review finance charge was correctly disclosed to consumer Buyer Comment (2025-06-17): See docs provided Reviewer Comment (2025-06-13): Please provide documentation or LOA indicating the Tax Certificate is a one-time fee and not a Life-of-loan fee. Buyer Comment (2025-06-12): See docs provided

06/18/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed amount, Corrected CD, and Re-open Rescission if Applicable

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

561511095

33823703

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Extension Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Extension Fee.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted] Changed circumstance document in file did not state reason for change. Insufficient cure provided for all closing costs above the legal limit.

Reviewer Comment (2025-06-23): [Redacted] received COC dated [Redacted]. Buyer Comment (2025-06-20): See COC provided Reviewer Comment (2025-06-18): [Redacted] received documents for Finance charge exception. Kindly provide a valid COC for the Extension fee added on CD dated [Redacted] for $[Redacted] or provide cure docs. Cure documents consist of Post CD,LOX,Copy of refund check and proof of mailing. Buyer Comment (2025-06-17): See docs provided

06/23/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

561511095

33823704

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Document Preparation Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Document Preparation Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted]. No valid changed circumstance was provided. Insufficient cure provided for all closing costs above the legal limit.

Reviewer Comment (2025-06-23): [Redacted] received COC on lock extension fee and Doc Prep fee was cured at closing Reviewer Comment (2025-06-23): reopen to clear Reviewer Comment (2025-06-13): Sufficient cure provided. Full cure amount for tolerance violation was provided at or before closing (on final CD) resulting in a cleared exception. Buyer Comment (2025-06-12): See docs provided

06/23/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

561511095

33823705

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Document Preparation Fee.  Fee Amount of $[Redacted]exceeds tolerance of $[Redacted].  Sufficient or excess cure was provided to the borrower at Closing.

Reviewer Comment (2025-06-23): Sufficient Cure Provided At Closing

06/23/2025

1

A

A

A

A

A

TX

Primary

Refinance - Cash-out - Other

Final CD evidences Cure

C

A

C

A

C

A

A

A

Non QM

Non QM

Yes

557641084

33823794

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

The file was missing a copy of the Fraud report

Reviewer Comment (2025-06-30): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-06-26): Fraud report uploaded

06/30/2025

1

C

A

C

A

C

A

C

A

C

A

TX

Primary

Refinance - Cash-out - Other

C

A

C

A

A

A

A

A

Non QM

Non QM

No

500120930

33823795

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing.

Closing Disclosure not provided to Borrower at least three business days prior to closing.

Reviewer Comment (2025-06-26): [Redacted] received [Redacted] CD, received 3 business days prior to consummation. Buyer Comment (2025-06-25): See Uploaded Initial CD

06/26/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

No Defined Cure

C

A

A

A

C

A

A

A

Non QM

Non QM

No

500120930

33823796

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax.  Fee Amount of $[Redacted] exceeds tolerance of $[Redacted].  Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Transfer Tax. Fee Amount of $[Redacted] exceeds tolerance of $[Redacted] . No valid changed circumstance was provided. No cure was provided to the Borrower.

Reviewer Comment (2025-06-26): [Redacted] received COC and LE dated [Redacted]. Buyer Comment (2025-06-25): See Uploaded CoC, Cover letter, LE and Rate Lock Agreement

06/26/2025

1

C

A

C

A

C

A

C

A

C

A

NY

Primary

Purchase

Fee Tolerance Refund Provide the Following: Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD

C

A

A

A

C

A

A

A

Non QM

Non QM

Yes

528666055

33823808

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

The file was missing a copy of Articles of Organization/Formation.

Reviewer Comment (2025-06-18): Received and associated Articles of Organization/Formation for [Redacted]. Exception Cleared. Buyer Comment (2025-06-16): See Uploaded LLC Docs

06/18/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

528666055

33823809

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

The file was missing a copy of Business Purpose Certificate.

Reviewer Comment (2025-06-17): Received and associated Business Purpose Certificate. Exception Cleared. Buyer Comment (2025-06-16): See Uploaded LLC Docs

06/17/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

528666055

33823810

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Certificate of Good Standing not provided

The file was missing a copy of the Certificate of Good Standing.

Reviewer Comment (2025-05-29): Received and associated Business Entity Listing for [Redacted]. Exception Cleared. Buyer Comment (2025-05-27): See uploaded Certificate of Good Standing

05/29/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

528666055

33823811

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

The file was missing a copy of Corporate Resolution.

Reviewer Comment (2025-06-18): Received and associated Operating agreement for [Redacted]. Exception Cleared. Buyer Comment (2025-06-16): See Uploaded LLC Docs

06/18/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

528666055

33823812

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Employer Identification Number (EIN) not provided

The file was missing a copy of Employer Identification Number (EIN).

Reviewer Comment (2025-05-27): Received and associated Employer Identification Number (EIN) for [Redacted]. Exception Cleared. Buyer Comment (2025-05-27): See Uploaded IRS form documenting EIN for Business

05/27/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

528666055

33823813

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

The file was missing a copy of Fraud Report.

Reviewer Comment (2025-05-27): Received and associated Fraud Report document. Exception Cleared. Buyer Comment (2025-05-23): See uploaded Drive Report

05/27/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

528666055

33823814

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

The file was missing a copy of Operating Agreement.

Reviewer Comment (2025-05-28): Received and associated Operating Agreement for A [Redacted], [Redacted]. Exception Cleared. Buyer Comment (2025-05-27): See Uploaded Operating Agreement and Certificate of Members

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

528666055

33823815

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

Missing documentation showing ownership of business indicated on this account.

Reviewer Comment (2025-06-17): Received and associated Operating Agreement with ownership of business. Exception Cleared. Buyer Comment (2025-06-16): See Uploaded LLC Docs

06/17/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

528666055

33823816

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Missing percentage of borrower's business ownership for use of business assets.

Reviewer Comment (2025-06-24): Received and associated Operating Agreement confirming [Redacted]% ownership. Sufficient assets to cover Cash From Borrower and reserve requirement is verified. Exception Cleared. Buyer Comment (2025-06-20): See Uploaded Operating agreement confirming [Redacted]% ownership. Document has already been provided in clarity and uploaded to condition #[Redacted]

06/24/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

528666055

33823817

Credit

Asset

Asset Documentation

Asset

Insufficient funds for Reserves. Guidelines require

Missing percentage of borrower's business ownership for use of business assets.

Reviewer Comment (2025-06-24): Received and associated Operating Agreement confirming [Redacted]% ownership. Sufficient assets to cover Cash From Borrower and reserve requirement is verified. Exception Cleared. Buyer Comment (2025-06-20): See Uploaded Operating agreement confirming [Redacted]% ownership. Document has already been provided in clarity and uploaded to condition #[Redacted]

06/24/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

528666055

33823818

Credit

Business Purpose

General

Business Purpose

Insufficient funds for Reserves.

Missing percentage of borrower's business ownership for use of business assets.

Reviewer Comment (2025-06-24): Received and associated Operating Agreement confirming [Redacted]% ownership. Sufficient assets to cover Cash From Borrower and reserve requirement is verified. Exception Cleared. Buyer Comment (2025-06-20): See Uploaded Operating agreement confirming [Redacted]% ownership. Document has already been provided in clarity and uploaded to condition #[Redacted]

06/24/2025

1

C

A

C

A

C

A

C

A

C

A

CA

Investment

Purchase

C

A

C

A

A

A

N/A

No

563838874

33823824

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

The file was missing a copy of Articles of Organization/Formation.

Reviewer Comment (2025-06-09): Received and associated Articles of Organization/Formation for [Redacted]. Exception Cleared. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

A

A

N/A

No

563838874

33823825

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

The file was missing a copy of the Business Purpose Certificate.

Reviewer Comment (2025-06-09): Received and associated Business Purpose Certificate. Exception Cleared. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

A

A

N/A

No

563838874

33823826

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Certificate of Good Standing not provided

The file was missing a copy of the Certificate of Good Standing.

Reviewer Comment (2025-06-09): Received and associated Certificate of Good Standing for [Redacted]. Exception Cleared. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

A

A

N/A

No

563838874

33823827

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

The file was missing a copy of the Corporate Resolution.

Reviewer Comment (2025-06-18): Received and associated Corporate Resolution for [Redacted]. Exception Cleared. Buyer Comment (2025-06-15): Corp Res attached

06/18/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

A

A

N/A

No

563838874

33823828

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Employer Identification Number (EIN) not provided

The file was missing a copy of Employer Identification Number (EIN).

Reviewer Comment (2025-06-09): Received and associated Employer Identification Number (EIN) for [Redacted]. Exception Cleared. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

A

A

N/A

No

563838874

33823829

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

The file was missing a copy of the Operating Agreement.

Reviewer Comment (2025-06-09): Received and associated Operating Agreement for [Redacted]. Exception Cleared. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

A

A

N/A

No

563838874

33823830

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Verification of Identification not provided

The file was missing a copy of Verification of Identification.

Reviewer Comment (2025-06-26): Documentation provided; exception cleared. Buyer Comment (2025-06-25): patriot act form uploaded Reviewer Comment (2025-06-18): Please provide Verification of Identification for "[Redacted]". Exception remains Buyer Comment (2025-06-15): EIN attached

06/26/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

A

A

N/A

No

563838874

33823832

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Non-Owner Occupancy Declaration not provided

Non-Owner Occupancy Declaration is missing.

Reviewer Comment (2025-06-09): Received and associated Business Purpose Certificate with Occupancy Declaration. Exception Cleared. Buyer Comment (2025-06-05): See docs provided

06/09/2025

1

C

A

C

A

C

A

C

A

C

A

AZ

Investment

Purchase

C

A

C

A

A

A

N/A

No

576638323

33823852

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Documented qualifying Assets for Closing of  $[Redacted] is less than Cash From Borrower $[Redacted] . Business assets were used to qualify. CPA, EA, or licensed tax preparer's letter stating that the use of funds in the transaction will not have a material adverse impact on the business' operations OR a complete Cash Flow Analysis is required and was not provided.1008 in File states UW completed a  Cash Flow analysis .Evidence showing no impact was not in file

Reviewer Comment (2025-06-27): Received and associated Cash flow analysis document. Exception cleared. Buyer Comment (2025-06-25): See docs provided

06/27/2025

1

C

A

C

A

C

A

C

A

C

A

HI

Investment

Purchase

C

A

C

A

A

A

A

A

N/A

No

527395572

33906774

Credit

Missing Document

General

Missing Document

Missing Document: Evidence of Access to Funds not provided

Documentation to confirm borrower's ownership percentage in [Redacted] and to verify access to business funds in [Redacted]#[Redacted]is not located in the file.

The representative FICO score exceeds the guideline minimum by at least [Redacted] points.

Guidelines Representative FICO: 620 Representative FICO: [Redacted]

SitusAMC,Aggregator

Reviewer Comment (2025-05-22): Client elects to waive with comp factors. Client states:[Redacted] approves exception to accept the latest SOS lookup as proof of business ownership. Comp factors: [Redacted] FICO, [Redacted] DSCR, LTV (more than [Redacted]% below max) Reviewer Comment (2025-04-16): Total cash to close requirement is $[Redacted]. Removing business account will result in verified amount of $[Redacted] with $[Redacted] shortfall. Provide evidence of access funds for account from [Redacted] ending with #[Redacted]. Exception remains. Seller Comment (2025-04-15): It appears that the borrower would have sufficient funds to close/reserves with the removal of [Redacted] #[Redacted] and therefore the exception is not required.  Can you confirm? Reviewer Comment (2025-04-14): Can not confirm ownership percentage of borrower from provided Articles of Organization and certificate of Good Standing. Require operating agreement or CFA letter confirming ownership of borrower. Exception remains. Seller Comment (2025-04-11): [Redacted] (Credit Review Documentation) was uploaded

05/22/2025

2

C

B

C

B

C

B

C

B

C

B

AZ

Investment

Refinance - Rate/Term

C

B

C

B

A

A

N/A

No

591065895

33906779

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: The subject property is located in a FEMA disaster that does not have a declared end date.

Disaster Name: ___ Disaster Declaration Date: ___

Property inspected post disaster but pre-FEMA declaration of disaster end date.

Property inspected post disaster but pre-FEMA declaration of disaster end date. Date of disaster: [Redacted]

SitusAMC

Reviewer Comment (2025-05-23): Client elects to waive with compensating factors.

05/23/2025

2

B

B

B

B

B

B

B

B

B

B

KY

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

N/A

No

596331385

33906789

Credit

Missing Document

General

Missing Document

Missing Document: 1007 Rent Comparison Schedule not provided

1007 Rent Comparison Schedule is missing for subject property.

Reviewer Comment (2025-05-28): Not required as rental income is not calculated for income qualification as per revised 1003/1008/AUS for subject investment property. Buyer Comment (2025-05-27): Submitted updated 1008, 1003, and Approval with the removal of rental income for the subject to [Redacted] for review. 1007 would not be required with update to DTI.

05/28/2025

1

C

A

C

A

C

A

C

A

C

A

FL

Investment

Purchase

C

A

C

A

A

A

A

A

N/A

N/A

No