EX-99.8 9 ex99-8.htm CLAYTON CONDITIONS REPORT
 

GCAT 2025-NQM4 Trust ABS- 15G

Exhibit 99.8

 

Client Name:      
Client Project Name: GCAT 2025-NQM4    
Start - End Dates: 1/3/2025 - 1/28/2025    
Deal Loan Count: 30    
       
             
Conditions Report 2.0    
             
Loans in Report: 30    
Loans with Conditions: 7    
             
1 - Total Active Conditions
  1 - Non-Material Conditions
      1 - Credit Review Scope
        1 - Category: LTV/CLTV
8 - Total Satisfied Conditions
             
      6 - Credit Review Scope
        3 - Category: Assets
        1 - Category: Insurance
        1 - Category: Legal Documents
        1 - Category: Terms/Guidelines
      1 - Property Valuations Review Scope
        1 - Category: FEMA
      1 - Compliance Review Scope
        1 - Category: Ability to Repay/Qualified Mortgage
1 - Total Waived Conditions
             
      1 - Credit Review Scope
        1 - Category: LTV/CLTV
             
 




©2025 Clayton Services LLC. All rights reserved. Ownership and use of this report is governed by the legal agreement between Clayton and the party for which it was prepared. Any use not expressly authorized by such agreement, including reliance on this report by anyone other than such party, is prohibited. 
 

 

  

 

Client Name:    
Client Project Name: GCAT 2025-NQM4  
Start - End Dates: 1/3/2025 - 1/28/2025  
Deal Loan Count: 30  
Report Run Date:        
         
Conditions Report 2.0
         
Loans in Report: 30  
Loans with Conditions: 7  
Loan Number Marketing ID Original Principal Balance State Initial Lender ATR/QM Status Loan Level ATR/QM Status Initial Securitization Overall Loan Grade Final Securitization Overall Loan Grade Initial Securitization Credit Loan Grade Final Securitization Credit Loan Grade Initial Securitization Property Valuations Loan Grade Final Securitization Property Valuations Loan Grade Initial Securitization Compliance Loan Grade Final Securitization Compliance Loan Grade Initial S&P Overall Loan Grade Final S&P Overall Loan Grade Initial S&P Credit Loan Grade Final S&P Credit Loan Grade Initial S&P Property Valuations Loan Grade Final S&P Property Valuations Loan Grade Initial S&P Compliance Loan Grade Final S&P Compliance Loan Grade Condition Category Condition Sub Category Condition Status Initial Securitization Condition Grade Final Securitization Condition Grade Initial S&P Condition Grade Final S&P Condition Grade Condition Code Condition Description Condition Material Indicator Initial Comments Client/Seller Response Comments Conclusion Comments TRID Error Type Cure Method Compensating Factors
XXXXXX 533777502 XXXXXX NY (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 21 points above guideline minimum
XXXXXX 505324542 XXXXXX FL (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  borrower has > 9.61 months PITIA above guideline minimum.
XXXXXX 549941569 XXXXXX AZ (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 39 points above guideline minimum
XXXXXX 515728028 XXXXXX PA (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 41 points above guideline minimum

CFCFS1736: Significant time at current residence
- Clayton Comments:  Borrower has 4 years at current residence
XXXXXX 561851687 XXXXXX MA (No Data) ATR/QM: Exempt B B B B A A A A B B B B A A A A Credit LTV/CLTV Active B B B B CRDLTV5736 LTV Exceeds Guideline Requirement by less than 5% No 69.81% LTV exceeds guideline maximum 65%. Loan amount $XXX / AIV $XXX. Max LTV based on FICO 678 and cash out is 65%. (No Data) (No Data) (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 38 points above guideline minimum.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 2.17 months PITIA above guideline minimum.
XXXXXX 578421127 XXXXXX CA (No Data) ATR/QM: Exempt C A A A C A A A C A A A C A A A Property Valuations FEMA Satisfied C A C A PRVAFEMA858 Natural Disaster Area, no subsequent inspection  (Individual & Public) No Missing PDI for Individual & Public declaration #XXX declaration date XXX, Wildfires and Straight-Line Winds 1/30/25 - Lender provided the Post Disaster Inspection report reflecting no damage to the subject property. 1/30/25 - Exception satisfied. (No Data) Not Applicable CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 40 months PITI reserves above guideline minimum

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  LTV > 10 points below guideline maximum

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score > 50 points above guideline minimum
XXXXXX 581508794 XXXXXX FL (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 15 points above guideline minimum

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  borrower has > 33.05 months PITIA above guideline minimum.
XXXXXX 530261887 XXXXXX CA (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Borrower has 0 x 30 x 35 months
XXXXXX 530600402 XXXXXX TX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Borrower LTV is > 19.36 points below guideline maximum.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 153 points above guideline minimum

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 84.72 months PITIA above guideline minimum.
XXXXXX 571274905 XXXXXX OK (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence for 10.8 years.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  borrower has > 38.60 months PITIA above guideline minimum.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  borrower LTV is < 41.33 points below guideline maximum.
XXXXXX 543323308 XXXXXX AL (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 10 points above guideline minimum

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  0x30x30
XXXXXX 513699982 XXXXXX TX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Assets Satisfied C A C A CRDAST205 Insufficient Funds to Close No VOD in file is blank  1/23/25 - Lender provided a copy of the VOD with the missing lending institution name. 1/23/25 - Exception satisfied. (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 61 points above guideline minimum

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage is 0x30x28
XXXXXX 513699982 XXXXXX TX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Assets Satisfied C A C A CRDAST3078 Insufficient # of months cash reserves for PITI per guideline requirements No VOD in file is blank 1/23/25 - Lender provided a copy of the VOD with the missing lending institution name. 1/23/25 - Exception satisfied. (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 61 points above guideline minimum

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage is 0x30x28
XXXXXX 513699982 XXXXXX TX (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Assets Satisfied D A D A CRDAST2304 Unverified Assets No VOD in file is blank 1/23/25 - Lender provided a copy of the VOD with the missing lending institution name. 1/23/25 - Exception satisfied. (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 61 points above guideline minimum

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage is 0x30x28
XXXXXX 579891392 XXXXXX TX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 54 points above guideline minimum

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  Mortgage is 0x30x39
XXXXXX 563488273 XXXXXX VA (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 110 months PITI reserves above guideline minimum

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score > 50 points above guideline minimum
XXXXXX 569651251 XXXXXX GA (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Borrower LTV is 24.05 points below guideline maximum

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO 148 points above guideline minimum
XXXXXX 569187368 XXXXXX FL (No Data) ATR/QM: Exempt D B D B A A A A D B D B A A A A Credit Insurance Satisfied D A D A CRDINSR848 Missing Hazard Insurance No Missing Declaration page of Hazard Insurance 1/22/25 - Lender provided a copy of the HOI Declaration page, along with the full policy. 1/22/25 - Exception satisfied.  (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower score is 679

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Private VOM reflects no late payments over the last 12 months.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 15 months PITI reserves above guideline minimum
XXXXXX 569187368 XXXXXX FL (No Data) ATR/QM: Exempt D B D B A A A A D B D B A A A A Credit LTV/CLTV Waived C B C B CRDLTV3026 LTV Exceeds Guideline Requirement by at least 5%, but less than 10% No Credit score 679- Per guideline maximum LTV for cash out transaction is 65%  1/23/25 - Upon further review, the compensating factors support reducing the exception to a non-material "B". 1/23/25 - Exception is a non-material B. (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Borrower score is 679

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Private VOM reflects no late payments over the last 12 months.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 15 months PITI reserves above guideline minimum
XXXXXX 526013480 XXXXXX CA (No Data) ATR/QM: Exempt D A D A A A A A D A D A A A A A Credit Legal Documents Satisfied D A D A CRDLGL2996 Missing Trust Documents No Missing Trust Documents 1/24/25 - Lender provided a copy of the Trust Certification. 1/24/25 - Exception satisfied. (No Data) Not Applicable CFCFS1736: Significant time at current residence
- Clayton Comments:  Significant time at current residence for 17 years.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 70 points above guideline
XXXXXX 570928200 XXXXXX TX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 6 months PITIA above guideline minimum.

CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Borrower LTV is 15 points below guideline maximum.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 170 points above guideline minimum
XXXXXX 524820625 XXXXXX TX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 90 points above guideline minimum

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  0x30x39
XXXXXX 598768694 XXXXXX AZ (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO 733 is greater than guideline minimum 640

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 116.39 months PITIA above guideline minimum.
XXXXXX 555582140 XXXXXX TX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Borrower LTV is 10 points below guideline maximum.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO 138 points above guideline minimum

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has 21 months PITIA above guideline minimum.
XXXXXX 562867862 XXXXXX NV (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  mortgage is 0x30x46

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 94 points above guideline minimum

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  borrower has > 24.11 months PITIA above guideline minimum.
XXXXXX 546068880 XXXXXX MI (No Data) ATR/QM: Exempt C A C A A A A A C A C A A A A A Credit Terms/Guidelines Satisfied C A C A CRDTER3122 Loan documents do not meet guideline requirements No Missing supporting documentation borrower is 100% owner of XXX.(Mortgage and assets in entity name). Operating Agreement in file reflects XXX with XXX as sole owner.  1/23/25 - Lender provided a copy of the Operating Agreement reflecting the borrower is 100% owner of the business. 1/23/25 - Exception satisfied. (No Data) Not Applicable CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 15 points above guideline minimum

CFCFS1740: Mortgage payment history exceeds guidelines
- Clayton Comments:  0x30x41
XXXXXX 553730059 XXXXXX FL (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Borrower LTV is > 5 points below guideline maximum.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 111 points above guideline minimum.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  Borrower has 0x30x63 consumer pay history.

CFCFS1739: Postive mortgage payment history
- Clayton Comments:  Borrower has  0x30x57 mortgage payment history.

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 94.77 months PITIA above guideline minimum.
XXXXXX 586641765 XXXXXX IA (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1737: LTV below guideline requirements
- Clayton Comments:  Borrower LTV is > 20.28 points below guideline maximum.

CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 135 points above guideline minimum.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  Borrower has 0x30x37

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 4.67 months PITIA above guideline minimum.
XXXXXX 588471237 XXXXXX IL QM: Safe Harbor QM: Safe Harbor (APOR) A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO > 152 points above guideline minimum.

CFCFS1742: Consumer credit history exceeds guidelines
- Clayton Comments:  Borrower has 0x30x83 consumer mortgage payment history.
XXXXXX 503765353 XXXXXX CA QM: Rebuttable Presumption (APOR) QM: Rebuttable Presumption (APOR) C A A A A A C A C A A A A A C A Compliance Ability to Repay/Qualified Mortgage Satisfied C A C A CMPATRQM2900 TILA - Loan subject to Ability to Repay/Qualified Mortgage rule; Clayton's status determination places loan in a riskier status than the Lender's status determination. No Loan subject to Ability to Repay/Qualified Mortgage rule; Clayton's status determination places loan in a riskier status than the Lender's status determination. 1/10/2025 Client provided a PCCD.  Clayton determination QM RP vs. lender determination of QM SH.  Variance due to APR of 8.159% exceeding test APR of 6.63%  > 1.5%. Exception remains. 1/22/25 - Lender provided a revised tape reflecting Rebuttable Presumption. 1/22/25 - Exception satisfied. (No Data) Not Applicable CFCFS1744: DTI below guideline requirement
- Clayton Comments:  DTI > 25 points below guideline maximum

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrowers have > 6 months PITIA reserves above guideline minimum
XXXXXX 505082360 XXXXXX MD (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  : Median FICO 174 points above guideline minimum

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 9 months PITIA above guideline minimum.
XXXXXX 566324082 XXXXXX OK (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Credit score > 100 points above guideline minimum
XXXXXX 548681835 XXXXXX TX (No Data) ATR/QM: Exempt A A A A A A A A A A A A A A A A                               CFCFS1741: Credit score exceeds guidelines
- Clayton Comments:  Median FICO 108 points above guideline minimum

CFCFS1731: Verified cash reserves exceed guidelines
- Clayton Comments:  Borrower has > 14 months PITIA above guideline minimum.

 

 

  

 

 

Client Name:    
Client Project Name: GCAT 2025-NQM4  
Start - End Dates: 1/3/2025 - 1/28/2025  
Deal Loan Count: 30  
Report Run Date:        
         
Conditions Report 2.0
         
Loans in Report: 30  
Loans with Conditions: 7  

Loan Number Marketing ID TRID Indicator Lender Application Date Broker Application Date Initial Securitization Overall Loan Grade Final Securitization Overall Loan Grade Initial Securitization Credit Loan Grade Final Securitization Credit Loan Grade Initial Securitization Property Valuations Loan Grade Final Securitization Property Valuations Loan Grade Initial Securitization Compliance Loan Grade Final Securitization Compliance Loan Grade Initial S&P Overall Loan Grade Final S&P Overall Loan Grade Initial S&P Credit Loan Grade Final S&P Credit Loan Grade Initial S&P Property Valuations Loan Grade Final S&P Property Valuations Loan Grade Initial S&P Compliance Loan Grade Final S&P Compliance Loan Grade Did Lender Acknowledge Exception at Origination
XXXXXX 533777502 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 505324542 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 549941569 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 515728028 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 561851687 Yes XXXXXX XXXXXX B B B B A A A A B B B B A A A A Not Applicable
XXXXXX 578421127 Yes XXXXXX XXXXXX C A A A C A A A C A A A C A A A Not Applicable
XXXXXX 581508794 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 530261887 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 530600402 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 571274905 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 543323308 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 513699982 Yes XXXXXX XXXXXX D A D A A A A A D A D A A A A A Not Applicable
XXXXXX 579891392 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 563488273 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 569651251 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 569187368 Yes XXXXXX XXXXXX D B D B A A A A D B D B A A A A Not Applicable
XXXXXX 526013480 Yes XXXXXX XXXXXX D A D A A A A A D A D A A A A A Not Applicable
XXXXXX 570928200 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 524820625 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 598768694 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 555582140 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 562867862 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 546068880 Yes XXXXXX XXXXXX C A C A A A A A C A C A A A A A Not Applicable
XXXXXX 553730059 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 586641765 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 588471237 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 503765353 Yes XXXXXX XXXXXX C A A A A A C A C A A A A A C A Not Applicable
XXXXXX 505082360 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 566324082 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable
XXXXXX 548681835 Yes XXXXXX XXXXXX A A A A A A A A A A A A A A A A Not Applicable