EX-99.2 13 ea024254301_ex99-2sch5.htm SCHEDULE 5 - INDIVIDUAL EXCEPTION REPORT

Exhibit 99.2 Schedule 5

 

Loan Number Infinity Loan ID Loan Number Loan Number 2 Borrower Last Name Property State Note Date Loan Purpose TPR QM ATR Status Initial Overall Loan Grade Final Overall Loan Grade Exception Category Exception Subcategory Exception Code Final Exception Status Initial Exception Grade Final Exception Grade Exception Exception Detail Follow-up Comments (Exception Response) Exception Conclusion Comments Compensating Factors Curable Status Loan Status Review Date Cleared Date Cured Date Exception Date
XX B3JOXFKJ1W2 XX   XX South Carolina 01/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Credit B3JOXFKJ1W2-U0OKEMMW Resolved 3 R * Required Documentation Missing or Incomplete  (Lvl R) Loan program of XX 30 Yr Fixed does not match on the LoanScorecard with the borrower qualifying with XX 12 month bank statement income.

03/XX/2025 Not Resolved: We received a rebuttal that it was registered as a 12-month bank statement program and XX doesn't need to be updated after expiration if income changes but still qualifies.  However, the XX we have in the file is for an asset qualifier program not a 12-month bank statement program.

03/XX/2025 Resolved: Client override. XX inadvertently contains the wrong product name. loan was underwritten and approved as a XX 30 Yr Fixed. This is an in-house document and not a regulatory compliance document. This should have no effect on the loan.		 03/XX/2025 Resolved: Client override. XX inadvertently contains the wrong product name. loan was underwritten and approved as a XX 30 Yr Fixed. This is an in-house document and not a regulatory compliance document. This should have no effect on the loan. 03/XX/2025 Resolved: Client override. XX inadvertently contains the wrong product name. loan was underwritten and approved as a XX 30 Yr Fixed. This is an in-house document and not a regulatory compliance document. This should have no effect on the loan.     QC Complete 02/XX/2025 03/XX/2025 03/XX/2025 02/XX/2025
XX FZ1HA3B4CVF XX   XX Michigan 01/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines FZ1HA3B4CVF-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) First Time Home Buyer requires minimum 0x30x12 housing payment history within most recent 3 years of loan application. Borrower has been living rent free for the last 5 years; cannot meet the housing payment history requirement.

A copy of an exception approval letter is available in the loan file.		     FICO: 794 FICO exceeds the guideline requirement of 660.

DTI: 30.38% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 04/XX/2025     03/XX/2025
XX GTWM01D04S1 XX   XX Idaho 03/XX/2025 Purchase Non-QM/Compliant 3 2 Credit Guidelines GTWM01D04S1-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Borrower is a FTHB living rent free up until 7/2024. At that time began renting, but at least two of the months the borrower did home improvements for the landlord in exchange for rent. Only have 3 month housing history.

A copy of an exception approval letter is available in the loan file.		     LTV: 61.25% LTV is less than the guideline requirement of 90.00%.

FICO: 747 FICO exceeds the guideline requirement of 660.

DTI: 25.19% DTI is less than the maximum guideline requirement of 43.00%.		   QC Complete 04/XX/2025     04/XX/2025
XX GTWM01D04S1 XX   XX Idaho 03/XX/2025 Purchase Non-QM/Compliant 3 2 Credit Income GTWM01D04S1-L3KXO96W Resolved 3 R * Reverification within 10 days is missing (Lvl R) Provide a copy of "Verification of employment" to verify borrowers employment, as it is missing.


Resolved 04/XX/2025 - Received Online search for VOE, condition resolved.		 Resolved 04/XX/2025 - Received Online search for VOE, condition resolved. Resolved 04/XX/2025 - Received Online search for VOE, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX GTWM01D04S1 XX   XX Idaho 03/XX/2025 Purchase Non-QM/Compliant 3 2 Credit Credit GTWM01D04S1-UDN50XOG Resolved 3 R * Borrower Identity Missing (Lvl R) Provide a copy of borrowers government ID as it is missing.


Resolved 04/XX/2025 - Received borrower GOV ID, condition clearing.		 Resolved 04/XX/2025 - Received borrower GOV ID, condition clearing. Resolved 04/XX/2025 - Received borrower GOV ID, condition clearing.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX J2OBYQ1SKGP XX   XX Florida 01/XX/2025 Cash Out Not Covered/Exempt 3 1 Credit   J2OBYQ1SKGP-QSFFZZOT Resolved 3 R * Hazard Insurance Coverage less than Loan Amount (Lvl R) Provide a copy of hazard insurance with sufficient dwelling covering the loan amount.


Resolved 03/XX/2025 - Received insurance with dwelling coverage, condition resolved.		 Resolved 03/XX/2025 - Received insurance with dwelling coverage, condition resolved. Resolved 03/XX/2025 - Received insurance with dwelling coverage, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX YLDXQT0AUPB XX   XX Louisiana 01/XX/2025 Purchase Not Covered/Exempt 3 1 Valuation Property YLDXQT0AUPB-5COCFHAP Resolved 3 R * Completed "Subject To" w/o Compltn Cert in File (Lvl R) Provide copy of 1004D document for subject property.( The electrical service in unit 308 needs to be turned on & . Handrails need to be installed of both the rear stairs. (The rear stairs are cement.)


Resolved 03/XX/2025 - Received As is appraisal report, condition resolved.		 Resolved 03/XX/2025 - Received As is appraisal report, condition resolved. Resolved 03/XX/2025 - Received As is appraisal report, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX XEBAZ5HJ00X XX   XX New York 11/XX/2024 Refinance Non-QM/Compliant 3 1 Credit   XEBAZ5HJ00X-QSFFZZOT Resolved 3 R * Hazard Insurance Coverage less than Loan Amount (Lvl R) Dwelling coverage of $xx reflecting on the hazard insurance policy is not sufficient to cover the loan amount of $xx, provide a copy of replacement cost estimator .


Resolved 03/XX/2025 - Received RCE document, condition resolved.		 Resolved 03/XX/2025 - Received RCE document, condition resolved. Resolved 03/XX/2025 - Received RCE document, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX AE40WIEY3CC XX   XX California 02/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines AE40WIEY3CC-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Husband is on personal bank statements but he is not in the loan.

A copy of an exception approval letter is available in the loan file.		     FICO: 777 FICO exceeds the guideline requirement of 660

LTV: 72.00% LTV is less than the guideline requirement of 90.00%.

   QC Complete 03/XX/2025     03/XX/2025
XX 3013Z1IGDKV XX   XX Colorado 03/XX/2025 Refinance Non-QM/Compliant 3 1 Compliance Compliance 3013Z1IGDKV-IJH0N5PE Resolved 3 R * ComplianceEase TRID Tolerance Test is Incomplete (Lvl R) Missing Initial Closing Disclosure.

Resolved 04/XX/2025: Received Initial Closing Disclosure dated 3/XX/2025 and exception is cleared.		 Resolved 04/XX/2025: Received Initial Closing Disclosure dated 3/XX/2025 and exception is cleared.  Resolved 04/XX/2025: Received Initial Closing Disclosure dated 3/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX X2MQC4ISR04 XX   XX Alabama 02/XX/2025 Purchase Not Covered/Exempt 3 1 Credit Other Disclosures X2MQC4ISR04-ZXHR0C1D Resolved 3 R * Missing Required Disclosures (Lvl R) Provide an access letter from borrower for bank statement - xx


Resolved 04/XX/2025 - Received Access Letter, condition resolved.		 Resolved 04/XX/2025 - Received Access Letter, condition resolved. Resolved 04/XX/2025 - Received Access Letter, condition resolved.     QC Complete 02/XX/2025 04/XX/2025 04/XX/2025 02/XX/2025
XX M2GQZQQADCF XX   XX South Carolina 03/XX/2025 Purchase Non-QM/Compliant 3 1 Compliance Compliance M2GQZQQADCF-ZDECX0IO Resolved 3 R * Homeownership Counselling Disclosure is missing. (Lvl R) Homeownership Counseling Disclosure is missing.

Resolved 04/XX/2025: Received Homeownership Counseling Disclosure and exception is cleared.		 Resolved 04/XX/2025: Received Homeownership Counseling Disclosure and exception is cleared.  Resolved 04/XX/2025: Received Homeownership Counseling Disclosure and exception is cleared.      QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX 2M41ZGMPCPS XX   XX Texas 02/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance 2M41ZGMPCPS-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.137% Allowed 8.480% Overby +0.657%.

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35.
 This loan is compliant with regulation 1026.35.
     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 4SRCYXO55ZW XX   XX Mississippi 03/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance 4SRCYXO55ZW-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.077% Allowed 8.430% Overby 0.647%

This loan is compliant with regulation 1026.35		 This loan is compliant with regulation 1026.35
 This loan is compliant with regulation 1026.35
     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 4XLY5SHTFM2 XX   XX California 02/XX/2025 Purchase Non-QM/Compliant 3 1 Compliance Compliance 4XLY5SHTFM2-IJH0N5PE Resolved 3 R * ComplianceEase TRID Tolerance Test is Incomplete (Lvl R) Initial Closing Disclosure is Missing.

Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 2BRTIQHBEFF XX   XX California 02/XX/2025 Purchase Not Covered/Exempt 2 2 Credit Guidelines 2BRTIQHBEFF-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Lender is requesting use of a CDA reflecting 0% in lieu of a second appraisal ,seller purchase property was $XX in 9/XX/24 but now being sold for $XX Greater than 20% appreciation.

A copy of an exception approval letter is available in the loan file.		     FICO: 714 FICO exceeds the guideline requirement of 660.

DTI: 34.59% DTI is less than the maximum guideline requirement of 50.00%.

Reserves: The 49 months of available reserves are more than the guideline requirement of 6 months.

   QC Complete 04/XX/2025     03/XX/2025
XX M4WRY1RCCIG XX   XX Minnesota 02/XX/2025 Refinance Non-QM/Compliant 2 2 Credit Guidelines M4WRY1RCCIG-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Borrower housing history while subject was being constructed 8 months renting, prior to that 8 months living rent free with daughter who is the Co-borrower on the loan. Request to not verify rent and rent free history as required by guides.

A copy of an exception approval letter is available in the loan file.		     FICO: 792 FICO exceeds the guideline requirement of 700.

LTV: 63.55% LTV is less than the guideline requirement of 80.00%.

Residual Income : $30,085.57 monthly.		   QC Complete 03/XX/2025     03/XX/2025
XX XPLG2TC503V XX   XX Florida 03/XX/2025 Purchase Non-QM/Compliant 3 1 Credit   XPLG2TC503V-QSFFZZOT Resolved 3 R * Hazard Insurance Coverage less than Loan Amount (Lvl R) Provide a copy of replacement cost estimate. Loan amount is $xxand Hazard insurance policy reflects dwelling amount is xx additional coverage 25% of coverage A. Amount of hazard insurance is not sufficient to cover the loan amount.


Resolved 04/XX/2025 - Received Replacement cost document, condition resolved.		 Resolved 04/XX/2025 - Received Replacement cost document, condition resolved. Resolved 04/XX/2025 - Received Replacement cost document, condition resolved.     QC Complete 03/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX HJYO54R05YA XX   XX Tennessee 03/XX/2025 Cash Out Not Covered/Exempt 2 2 Credit Guidelines HJYO54R05YA-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Exception DSCR of 1.03% required DSCR 1.15% for Cash out Refinance.

A copy of an exception approval letter is available in the loan file.		     LTV: 40.00% LTV is less than the guideline requirement of 75.00%.

FICO: 796 FICO exceeds the guideline requirement of 680.

Reserves: The 595 months of available reserves are more than the guideline requirement of 6 months.		   QC Complete 04/XX/2025     04/XX/2025
XX 2NMUW34EWMB XX   XX Indiana 03/XX/2025 Cash Out Non-QM/Compliant 4 1 Compliance Compliance 2NMUW34EWMB-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.722% Allowed 8.120% Overby +0.602%

This loan is compliant with regulation 1026.35		 This loan is compliant with regulation 1026.35
 This loan is compliant with regulation 1026.35
     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX 22VQBVQE01G XX   XX Nevada 02/XX/2025 Purchase Non-QM/Compliant 4 2 Compliance Compliance 22VQBVQE01G-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 10.074% Allowed 8.370% +Overby 1.704%

This loan is compliant with regulation 1026.35		 This loan is compliant with regulation 1026.35 This loan is compliant with regulation 1026.35     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX 22VQBVQE01G XX   XX Nevada 02/XX/2025 Purchase Non-QM/Compliant 4 2 Credit Guidelines 22VQBVQE01G-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Required credit score for 85 LTV is 700, Actual borrower score is 699 which is 1 point short.

A copy of an exception approval letter is available in the loan file.		     DTI: 28.54% DTI is less than the maximum guideline requirement of 50.00%.

Reserves: The 6 months of available reserves are more than the guideline requirement of 3 months.

Length of Employment: 11 years with the same business exceeds the minimum requirement of 2 years.		   QC Complete 04/XX/2025     04/XX/2025
XX OU5YOXGYPJD XX   XX Texas 03/XX/2025 Cash Out Not Covered/Exempt 2 2 Credit Guidelines OU5YOXGYPJD-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Loan Delivered >15 days from Note date- Due to shipping delay.

A copy of an exception approval letter is available in the loan file.		     Reserves: The 67 months of available reserves are more than the guideline requirement of 6 months.

DTI: 38.24% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 04/XX/2025     04/XX/2025
XX DWT4YKXKU1P XX   XX Oklahoma 03/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance DWT4YKXKU1P-7NVY4BLQ Resolved 4 R * State Higher Price Mortgage Loan (Lvl R) The loan is a higher-priced mortgage loan, as defined in the legislation. For more information please see the Oklahoma Higher-Priced Mortgage Loan Article section of the full ComplianceAnalyzer report.

OK HOEPA Higher-Priced Mortgage Loan Test: Charged 10.076% Allowed 8.370% Overby +1.706%

This loan is compliant with regulation OK HOEPA.		 This loan is compliant with regulation OK HOEPA. This loan is compliant with regulation OK HOEPA.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX DWT4YKXKU1P XX   XX Oklahoma 03/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance DWT4YKXKU1P-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 10.076% Allowed 8.370% Overby +1.706%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX KOQ5VLO5ROO XX   XX South Carolina 03/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Credit KOQ5VLO5ROO-U0OKEMMW Resolved 3 R * Required Documentation Missing or Incomplete  (Lvl R) Provide flood Insurance for subject property (xx) with Correct Mortgagee Clause and coverage amount to match loan amount or maximum amount of FEMA coverage. the available flood Insurance expired on date 03/XX/2025, and note date is 03/XX/2025.


Resolved 03/XX/2025 - Received Flood insurance, condition resolved.		 Resolved 03/XX/2025 - Received Flood insurance, condition resolved. Resolved 03/XX/2025 - Received Flood insurance, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX KOQ5VLO5ROO XX   XX South Carolina 03/XX/2025 Purchase Non-QM/Compliant 3 1 Credit   KOQ5VLO5ROO-QSFFZZOT Resolved 3 R * Hazard Insurance Coverage less than Loan Amount (Lvl R) Provide the master insurance policy covering the subject property "xx." The available master policy expired on date 03/XX/2025, and the note date is 03/XX/2025.


Resolved 03/XX/2025 - Received master policy, condition resolved.		 Resolved 03/XX/2025 - Received master policy, condition resolved. Resolved 03/XX/2025 - Received master policy, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX B1V2NTLH021 XX   XX Colorado 03/XX/2025 Cash Out Non-QM/Compliant 3 1 Valuation Doc Issue B1V2NTLH021-YXK20TJA Resolved 3 R * Subject or Comp Photos are missing or illegible (Lvl R) Provide a copy of updated appraisal report with color photos of the subject property and Comparable photos.


Resolved-03/XX/2025-Appraisal report with color photos of the subject property and Comparable photos  document received.		 Resolved-03/XX/2025-Appraisal report with color photos of the subject property and Comparable photos  document received. Resolved-03/XX/2025-Appraisal report with color photos of the subject property and Comparable photos  document received.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX B1V2NTLH021 XX   XX Colorado 03/XX/2025 Cash Out Non-QM/Compliant 3 1 Credit Other Disclosures B1V2NTLH021-ZXHR0C1D Resolved 3 R * Missing Required Disclosures (Lvl R) Missing 1st page of loan scorecard.


Resolved-03/XX/2025- Resolved 1st page of loan scorecard document received.		 Resolved-03/XX/2025- Resolved 1st page of loan scorecard document received. Resolved-03/XX/2025- Resolved 1st page of loan scorecard document received.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX NA21YIQYJUO XX   XX Oregon 03/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Credit NA21YIQYJUO-U0OKEMMW Resolved 3 R * Required Documentation Missing or Incomplete  (Lvl R) Gift source is missing in the file (require donor statement or wiring details, and borrower statement where gift fund was received).


Resolved 03/XX/2025 - Received gift Wire transfer, condition resolved.		 Resolved 03/XX/2025 - Received gift Wire transfer, condition resolved. Resolved 03/XX/2025 - Received gift Wire transfer, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX KJ3V3QIEPXY XX   XX Minnesota 02/XX/2025 Cash Out Non-QM/Compliant 4 1 Compliance Compliance KJ3V3QIEPXY-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.826% Allowed 8.430% Overby +0.396%.

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 03/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX PEIWQRUBI3D XX   XX California 03/XX/2025 Purchase Non-QM/Compliant 3 2 Credit Other Disclosures PEIWQRUBI3D-ZXHR0C1D Resolved 3 R * Missing Required Disclosures (Lvl R) Provide access letter for xx for xx #xx.


Resolved 03/XX/2025 - Received access letter, condition resolved.		 Resolved 03/XX/2025 - Received access letter, condition resolved. Resolved 03/XX/2025 - Received access letter, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX PEIWQRUBI3D XX   XX California 03/XX/2025 Purchase Non-QM/Compliant 3 2 Credit Guidelines PEIWQRUBI3D-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Waived requirement for occupying borrower to contribute to qualifying income.

A copy of an exception approval letter is available in the loan file.		     FICO: 766 FICO exceeds the guideline requirement of 660.

DTI: 11.83% DTI is less than the maximum guideline requirement of 43.00%.

Reserves: The 145 months of available reserves are more than the guideline requirement of 9 months.		   QC Complete 03/XX/2025     03/XX/2025
XX GGMEDOXXNXK XX   XX Florida 03/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines GGMEDOXXNXK-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Used 2024 income from 1099 without transcripts. We have 12 mos deposits and pay statements from xx (1099 issuer).

A copy of an exception approval letter is available in the loan file.		     FICO: 761 FICO exceeds the guideline requirement of 660.

Reserves: The 10 months of available reserves are more than the guideline requirement of 6 months.

DTI: 19.76% DTI is less than the maximum guideline requirement of 43.00%.		   QC Complete 03/XX/2025     03/XX/2025
XX BQ0KYSE42QV XX   XX Florida 02/XX/2025 Purchase Non-QM/Compliant 3 2 Compliance Compliance BQ0KYSE42QV-0O1J05XI Resolved 3 R * ComplianceEase TRID Tolerance Test Failed (Lvl R) A revised Loan Estimate dated 02/XX/2025 is missing and required due to Appraisal Fee increased.Reference the change of circumstance form on page #827.

Resolved 03/XX/2025: Received Revised Loan Estimate dated 02/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Revised Loan Estimate dated 02/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Revised Loan Estimate dated 02/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX BQ0KYSE42QV XX   XX Florida 02/XX/2025 Purchase Non-QM/Compliant 3 2 Credit Guidelines BQ0KYSE42QV-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) FICO 719 is less than the guideline requirement of 720 for asset qualifier.

A copy of an exception approval letter is available in the loan file.		     LTV: 75.00% LTV is less than the guideline requirement of 80.00%.

Residual Income: $11,123.77 monthly.		   QC Complete 03/XX/2025     03/XX/2025
XX VGNBGTG3K0W XX   XX Utah 03/XX/2025 Purchase Not Covered/Exempt 2 2 Credit Guidelines VGNBGTG3K0W-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Requesting exception for condotel without separate bedroom. Please note median score is incorrect on prefilled form and this is 2 of a 2 pack in same complex

A copy of an exception approval letter is available in the loan file.		     FICO: 758 FICO exceeds the guideline requirement of 660.

LTV: 70.85% LTV is less than the guideline requirement of 85.00%.

DTI: 11.43% DTI is less than the maximum guideline requirement of 50.00%.

   QC Complete 04/XX/2025     04/XX/2025
XX 5QYOASPVS4Z XX   XX Missouri 02/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance 5QYOASPVS4Z-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.940% Allowed 8.380% Overby +0.560%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX GTIMDBKQ4LL XX   XX North Carolina 03/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines GTIMDBKQ4LL-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) To waive hitting for monthly payment on bridge loan being taken for assets on new purchase. As per agreement the lender will purchase home if not sold within 6 mos.

A copy of an exception approval letter is available in the loan file.		     FICO: 710 FICO exceeds the guideline requirement of 700.

DTI: 38.30% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 04/XX/2025     04/XX/2025
XX XKNTJALW30M XX   XX Connecticut 03/XX/2025 Cash Out Non-QM/Compliant 3 2 Credit Guidelines XKNTJALW30M-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Exception to waive 2nd appraisal for cash out refinance, rapid appreciation. Purchased xx/2024 for $xx; value $xx xx

A copy of an exception approval letter is available in the loan file.		     LTV: 59.66% LTV is less than the guideline requirement of 70.00%.

Reserves: The 34 months of available reserves are more than the guideline requirement of 3 months.

DTI: 42.11% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 04/XX/2025     04/XX/2025
XX XKNTJALW30M XX   XX Connecticut 03/XX/2025 Cash Out Non-QM/Compliant 3 2 Credit Income XKNTJALW30M-L3KXO96W Resolved 3 R * Reverification within 10 days is missing (Lvl R) Provide verbal VOE for borrower (xx) from (xx) dated within 10 business days of closing dated 03/XX/2025.


Resolved 04/XX/2025 - Received CPA Letter verified on 03/XX/2025 for business, condition resolved.		 Resolved 04/XX/2025 - Received CPA Letter verified on 03/XX/2025 for business, condition resolved. Resolved 04/XX/2025 - Received CPA Letter verified on 03/XX/2025 for business, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX GAVQ1J0LZIE XX   XX Missouri 04/XX/2025 Cash Out Non-QM/Compliant 2 2 Credit Guidelines GAVQ1J0LZIE-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Subject property is zoned in rural with 41 acres.

A copy of an exception approval letter is available in the loan file.		     FICO: 682 FICO exceeds the guideline requirement of 660.

LTV: 28.99% LTV is less than the guideline requirement of 75.00%.

DTI: 44.69% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 05/XX/2025     05/XX/2025
XX QYNNOQGGEUT XX   XX Maryland 03/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines QYNNOQGGEUT-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Loan amount over $1.5mm for FTHB primary purchase.

A copy of an exception approval letter is available in the loan file.		     FICO: 807 FICO exceeds the guideline requirement of 700.

Residual Income : $50,609.20 monthly.

DTI: 31.69% DTI is less than the maximum guideline requirement of 50.00%.
   QC Complete 04/XX/2025     04/XX/2025
XX 2JLOOCQMCOG XX   XX Florida 03/XX/2025 Cash Out Non-QM/Compliant 3 1 Credit Doc Issue 2JLOOCQMCOG-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) The amount of title insurance of $xx on the Title Commitment is less than the loan amount $xx.


Resolved 04/XX/2025 :  Received title report ,condition resolved.		 Resolved 04/XX/2025 :  Received title report ,condition resolved. Resolved 04/XX/2025 :  Received title report ,condition resolved.     QC Complete 03/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX K22UI4TY23W XX   XX Texas 04/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance K22UI4TY23W-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.705% Allowed 8.160% +Overby 0.545%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX JRJLVZ05L5U XX   XX California 03/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Doc Issue JRJLVZ05L5U-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) Provide updated supplemental report with amount of title insurance covering the loan amount $xx.


Resolved 04/XX/2025 - Received title supplement report, condition resolved.		 Resolved 04/XX/2025 - Received title supplement report, condition resolved. Resolved 04/XX/2025 - Received title supplement report, condition resolved.     QC Complete 03/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX VUGISDYTO1R XX   XX Virginia 02/XX/2025 Cash Out Non-QM/Compliant 3 1 Compliance Compliance VUGISDYTO1R-FELD93E2 Resolved 3 R * Missing Required Disclosures (Lvl R) Missing Initial Settlement Statement Provider list dated on 02/XX/2025, However Revised Settlement Statement available in page# 433.

Resolved 03/XX/2025: Received Settlement Statement Provider list dated 02/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Settlement Statement Provider list dated 02/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Settlement Statement Provider list dated 02/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 5CDQKIUAVEU XX   XX California 03/XX/2025 Cash Out Not Covered/Exempt 3 1 Credit Doc Issue 5CDQKIUAVEU-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) The amount of title insurance of $xx on the Title Commitment is less than the loan amount $xx



Resolved 04/XX/2025 - Received title report, condition resolved.		 Resolved 04/XX/2025 - Received title report, condition resolved.
 Resolved 04/XX/2025 - Received title report, condition resolved.
     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX 0YAMV22UFCG XX   XX South Carolina 02/XX/2025 Cash Out Non-QM/Compliant 3 1 Compliance Compliance 0YAMV22UFCG-IJH0N5PE Resolved 3 R * ComplianceEase TRID Tolerance Test is Incomplete (Lvl R) Missing Initial Closing Disclosure.

Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX ZPXMZVWDLIJ XX   XX Kansas 03/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Doc Issue ZPXMZVWDLIJ-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) The amount of title insurance of $xx on the Title Commitment is less than the loan amount $xx

Resolved 03/XX/2025 - Received Title insured amount, condition resolved.		 Resolved 03/XX/2025 - Received Title insured amount, condition resolved. Resolved 03/XX/2025 - Received Title insured amount, condition resolved.     QC Complete 03/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX 5HTO0CVADVX XX   XX California 03/XX/2025 Purchase Non-QM/Compliant 3 1 Compliance Compliance 5HTO0CVADVX-0O1J05XI Resolved 3 R * ComplianceEase TRID Tolerance Test Failed (Lvl R) A revised Closing Disclosure dated 02/XX/2025 is missing and required due to Lock Extension. Reference the change of circumstance form on page #826.

Resolved 03/XX/2025: Received Letter of explanation dated 02/XX/2025 stating "There was no charge to borrower for lock extension so no COC CD would be available" and exception is cleared.		 Resolved 03/XX/2025: Received Letter of explanation dated 02/XX/2025 stating "There was no charge to borrower for lock extension so no COC CD would be available" and exception is cleared.
 Resolved 03/XX/2025: Received Letter of explanation dated 02/XX/2025 stating "There was no charge to borrower for lock extension so no COC CD would be available" and exception is cleared.
     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX V4IJ2RK0544 XX   XX Washington 03/XX/2025 Purchase Non-QM/Compliant 3 1 Compliance Compliance V4IJ2RK0544-FELD93E2 Resolved 3 R * Missing Required Disclosures (Lvl R) Missing Settlement Service Provider list.

Resolved 03/XX/2025: Received Settlement Service Provider list and exception is cleared.		 Resolved 03/XX/2025: Received Settlement Service Provider list and exception is cleared.  Resolved 03/XX/2025: Received Settlement Service Provider list and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX S5A4Y2YNK1G XX   XX Oregon 02/XX/2025 Purchase Non-QM/Compliant 3 2 Compliance Compliance S5A4Y2YNK1G-WE2FAX95 Resolved 3 R * Revised Loan Estimate is missing (Lvl R) A revised Loan Estimate dated 02/XX/2025 is missing and required due to a change in the Borrower opted to lock in interest rate. Reference the change of circumstance form on page #584.

Resolved 03/XX/2025: Received Revised Loan Estimate dated 02/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Revised Loan Estimate dated 02/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Revised Loan Estimate dated 02/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX S5A4Y2YNK1G XX   XX Oregon 02/XX/2025 Purchase Non-QM/Compliant 3 2 Credit Guidelines S5A4Y2YNK1G-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) To permit xx on C09 EAD.

A copy of an exception approval letter is available in the loan file.		     FICO: 776 FICO exceeds the guideline requirement of 700.

Residual Income : $53,093.03 monthly		   QC Complete 03/XX/2025     03/XX/2025
XX X3DMDAF2XRJ XX   XX Florida 03/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance X3DMDAF2XRJ-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.417% Allowed 8.120% Overby +1.297%.

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35.
 This loan is compliant with regulation 1026.35.
     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 1GCPWLOUTZY XX   XX New York 03/XX/2025 Purchase Not Covered/Exempt 2 2 Credit Guidelines 1GCPWLOUTZY-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Non Arm Length's Trans/Identity Of Interest/Conflict Of Interest.

A copy of an exception approval letter is available in the loan file.		     LTV: 80.00% LTV is less than the guideline requirement of 85.00%.

FICO: 741 FICO exceeds the guideline requirement of 660.

DTI: 23.46% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 03/XX/2025     03/XX/2025
XX 2YLGVJM0V0N XX   XX Arizona 02/XX/2025 Purchase Non-QM/Compliant 4 2 Compliance Compliance 2YLGVJM0V0N-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.803% Allowed 8.430% Overby +0.373%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX 2YLGVJM0V0N XX   XX Arizona 02/XX/2025 Purchase Non-QM/Compliant 4 2 Credit Guidelines 2YLGVJM0V0N-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) First time home buyer living rent free vs 12 month housing payment required per guidelines

A copy of an exception approval letter is available in the loan file.		     FICO: 694 FICO exceeds the guideline requirement of 660.

Reserves: The 17 months of available reserves are more than the guideline requirement of 6 months.

DTI: 12.61% DTI is less than the maximum guideline requirement of 43.00%.
   QC Complete 04/XX/2025     03/XX/2025
XX U2YZQVKWKKR XX   XX Arizona 03/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance U2YZQVKWKKR-0O1J05XI Resolved 3 R * ComplianceEase TRID Tolerance Test Failed (Lvl R) TRID Violation due to Appraisal Review fee, Closing Coordination fee, Tax Services fee increased on Revised LE dated 03/XX/2025. Initial LE dated 02/XX/2025 reflects Appraisal Review fee, Closing Coordination fee, Tax Services fee as $0.00 however, Revised LE dated 3/XX/2025 reflects the Appraisal Review fee $90.00 Closing Coordination fee $295.00 Tax Services fees $7.00 This is a fee increase of $392.00 for Appraisal Review fee, Closing Coordination fee, Tax Services fee which exceeds the 0% tolerance for Require PCCD/COC to cure the tolerance violation of $392.00.

Resolved 04/XX/2025: Received COC document dated 3/XX/2025 and exception is cleared.		 Resolved 04/XX/2025: Received COC document dated 3/XX/2025 and exception is cleared.  Resolved 04/XX/2025: Received COC document dated 3/XX/2025 and exception is cleared.      QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX U2YZQVKWKKR XX   XX Arizona 03/XX/2025 Purchase Non-QM/Compliant 4 1 Credit Guidelines U2YZQVKWKKR-J587LE2V Resolved 4 R * Loan does not conform to program guidelines (Lvl R) To permit airDNA in place of fully executed 12 month lease and Copy of security deposit/1st month’s rent and evidence of deposit to the borrower’s account.

Exception approval present, but no compensatory factors to warrant the exception.

Resolved 04/XX/2025: A letter of explanation was received indicating that the full PITIA amount of $5,349.00 was included as a liability to the borrower.		 Resolved 04/XX/2025: A letter of explanation was received indicating that the full PITIA amount of $5,349.00 was included as a liability to the borrower. Resolved 04/XX/2025: A letter of explanation was received indicating that the full PITIA amount of $5,349.00 was included as a liability to the borrower.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX E4YWSNMN411 XX   XX California 03/XX/2025 Purchase Not Covered/Exempt 3 1 Credit Doc Issue E4YWSNMN411-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) Provide updated supplemental report with amount of title insurance covering the loan amount $xx.


Resolved 04/XX/2025 - Received title report with insured amount, condition resolved.		 Resolved 04/XX/2025 - Received title report with insured amount, condition resolved. Resolved 04/XX/2025 - Received title report with insured amount, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX MY231CRMFSP XX   XX Colorado 03/XX/2025 Refinance Non-QM/Compliant 3 2 Credit Guidelines MY231CRMFSP-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) The subject is xx acres, which is not acceptable as per the guideline.

A copy of an exception approval letter is available in the loan file.		     FICO: 733 FICO exceeds the guideline requirement of 660.

LTV: 64.71% LTV is less than the guideline requirement of 90.00%.

DTI: 22.02% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 04/XX/2025     03/XX/2025
XX MY231CRMFSP XX   XX Colorado 03/XX/2025 Refinance Non-QM/Compliant 3 2 Credit Doc Issue MY231CRMFSP-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) The amount of title insurance of $xx on the Title Commitment is less than the loan amount $xx

Resolved 03/XX/2025 - Received Title insured amount, condition resolved.		 Resolved 03/XX/2025 - Received Title insured amount, condition resolved. Resolved 03/XX/2025 - Received Title insured amount, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX VUGV3W0LW4I XX   XX Indiana 04/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance VUGV3W0LW4I-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.297% Allowed 8.160% +Overby 0.137%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35.
 This loan is compliant with regulation 1026.35.
     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX E3P5GBEAZ5R XX   XX New York 02/XX/2025 Purchase Non-QM/Compliant 3 2 Credit Guidelines E3P5GBEAZ5R-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Use of 100% of business assets.

A copy of an exception approval letter is available in the loan file.		     DTI: 24.44% DTI is less than the maximum guideline requirement of 50.00%.

FICO: 724 FICO exceeds the guideline requirement of 700.		   QC Complete 03/XX/2025     03/XX/2025
XX E3P5GBEAZ5R XX   XX New York 02/XX/2025 Purchase Non-QM/Compliant 3 2 Compliance Compliance E3P5GBEAZ5R-RO3KRP0K Resolved 3 R * TRID Violations (Lvl R) A revised Closing Disclosure dated 01/XX/2025 is missing and required due to a change in the Lock Expiration Date extended to 02/XX/2025 12:00 AM. Reference the change of circumstance form on page #623.

Resolved 03/XX/2025: Received Revised Closing Disclosure dated 01/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Revised Closing Disclosure dated 01/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Revised Closing Disclosure dated 01/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX E3P5GBEAZ5R XX   XX New York 02/XX/2025 Purchase Non-QM/Compliant 3 2 Compliance Compliance E3P5GBEAZ5R-T6JX6WMZ Resolved 3 R * Closing_Disclosure violations (Lvl R) A revised Closing Disclosure dated 01/XX/2025 is missing and required due to a change in the Discount Fee added $2,296.00 due to lock extension; Lock Expiration Date extended to 01/XX/2025 12:00 AM.Reference the change of circumstance form on page #624.

Resolved 03/XX/2025: Received Revised Closing Disclosure dated 01/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Revised Closing Disclosure dated 01/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Revised Closing Disclosure dated 01/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX E3P5GBEAZ5R XX   XX New York 02/XX/2025 Purchase Non-QM/Compliant 3 2 Compliance Compliance E3P5GBEAZ5R-FELD93E2 Resolved 3 R * Missing Required Disclosures (Lvl R) A revised Closing Disclosure dated 02/XX/2025 is missing and required due to a change in the Lock Expiration Date extended to 03/XX/2025 12:00 AM. Reference the change of circumstance form on page #622.

Resolved 03/XX/2025: Received Revised Closing Disclosure dated 02/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Revised Closing Disclosure dated 02/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Revised Closing Disclosure dated 02/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 51OKJNVCF3W XX   XX California 03/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines 51OKJNVCF3W-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Omitting PITIA for 1xx investment property - it will be sold after this transaction.

A copy of an exception approval letter is available in the loan file.		     LTV: 70.00% LTV is less than the guideline requirement of 90.00%.

DTI: 43.07% DTI is less than the maximum guideline requirement of 50.00%.

FICO: 780 FICO exceeds the guideline requirement of 660.		   QC Complete 03/XX/2025     03/XX/2025
XX 3NAZENMAKAR XX   XX South Carolina 03/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance 3NAZENMAKAR-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.353% Allowed 8.230% Overby +0.123%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX CCPVO1EUCV3 XX   XX Oregon 03/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Credit CCPVO1EUCV3-U0OKEMMW Resolved 3 R * Required Documentation Missing or Incomplete  (Lvl R) Provide a copy of CPA letter to verify the Business Expense ratio of 70%.


Resolved 04/XX/2025 - Received LOE for CPA Letter, condition resolved.		 Resolved 04/XX/2025 - Received LOE for CPA Letter, condition resolved. Resolved 04/XX/2025 - Received LOE for CPA Letter, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX VBBJFWVNLIM XX   XX Georgia 03/XX/2025 Purchase Not Covered/Exempt 2 2 Credit Guidelines VBBJFWVNLIM-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Exception to use joint personal bank statement for income without other owner as borrower.

A copy of an exception approval letter is available in the loan file.		     FICO: 779 FICO exceeds the guideline requirement of 660.

LTV: 85.00% LTV is less than the guideline requirement of 90.00%.

DTI: 40.91% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 03/XX/2025     03/XX/2025
XX LSOF03EPZ0T XX   XX Colorado 02/XX/2025 Purchase Non-QM/Compliant 3 1 Compliance Compliance LSOF03EPZ0T-IJH0N5PE Resolved 3 R * ComplianceEase TRID Tolerance Test is Incomplete (Lvl R) Missing Initial Closing Disclosure.

Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared. Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX CF3LH4O5N1Y XX   XX Texas 03/XX/2025 Purchase Not Covered/Exempt 3 2 Credit Guidelines CF3LH4O5N1Y-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) $50,000 in gift funds for purchase of an investment property vs gift funds only allowed permitted for reserves.

A copy of an exception approval letter is available in the loan file.		     FICO: 731 FICO exceeds the guideline requirement of 660.

DTI: 43.89% DTI is less than the maximum guideline requirement of 50.00%.

Reserves: The 21 months of available reserves are more than the guideline requirement of 7 months.		   QC Complete 04/XX/2025     03/XX/2025
XX CF3LH4O5N1Y XX   XX Texas 03/XX/2025 Purchase Not Covered/Exempt 3 2 Credit Credit CF3LH4O5N1Y-U0OKEMMW Resolved 3 R * Required Documentation Missing or Incomplete  (Lvl R) Missing bank statement for xx #xx dated 16-May-2024 to 17-Jun-2024.

Resolved 03/XX/2025 - Received bank statement for #xx, condition resolved.		 Resolved 03/XX/2025 - Received bank statement for #xx, condition resolved. Resolved 03/XX/2025 - Received bank statement for #xx, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX CF3LH4O5N1Y XX   XX Texas 03/XX/2025 Purchase Not Covered/Exempt 3 2 Credit Credit CF3LH4O5N1Y-UDN50XOG Resolved 3 R * Borrower Identity Missing (Lvl R) Borrower xx) driver's license expired on 02/XX/2025. Provide a legible copy of the driver's license or other acceptable form of identification for the borrower (xx).


Not Resolved 04/XX/2025 - Provide a legible copy of GOV ID for borrower xx, condition not resolved.

Resolved 04/XX/2025 - Borrower Passport received, condition resolved.		 Resolved 04/XX/2025 - Borrower Passport Id received, condition resolved. Resolved 04/XX/2025 - Borrower Passport Id received, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX TKY5DTKM1H3 XX   XX Texas 03/XX/2025 Cash Out Non-QM/Compliant 4 2 Compliance Compliance TKY5DTKM1H3-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.721% Allowed 8.230% Overby +0.491%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX TKY5DTKM1H3 XX   XX Texas 03/XX/2025 Cash Out Non-QM/Compliant 4 2 Credit Guidelines TKY5DTKM1H3-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Requesting end loan exception for property type of xx.

A copy of an exception approval letter is available in the loan file.		     Reserves: The 27 months of available reserves are more than the guideline requirement of 6 months.

FICO: 696 FICO exceeds the guideline requirement of 680.
   QC Complete 04/XX/2025     04/XX/2025
XX 4KRYPNNLH00 XX   XX Utah 03/XX/2025 Refinance Non-QM/Compliant 3 2 Credit Doc Issue 4KRYPNNLH00-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) The $xxcoverage amount on the title report is less than the mortgage loan amount of $xx.


Resolved 04/XX/2025 - Received title report, condition resolved.		 Resolved 04/XX/2025 - Received title report, condition resolved. Resolved 04/XX/2025 - Received title report, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX 4KRYPNNLH00 XX   XX Utah 03/XX/2025 Refinance Non-QM/Compliant 3 2 Credit Guidelines 4KRYPNNLH00-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Requesting exception to permit LTV 85.906% vs maximum 85%

A copy of an exception approval letter is available in the loan file.		     FICO: 766 FICO exceeds the guideline requirement of 700.

DTI: 35.63% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 04/XX/2025     04/XX/2025
XX QYLT0LI23XG XX   XX Florida 03/XX/2025 Purchase Not Covered/Exempt 2 2 Credit Guidelines QYLT0LI23XG-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Permitting non-warrantable condo with less than 500 sq ft GL; subject has xx Sq FtA.

A copy of an exception approval letter is available in the loan file.		     FICO: 797 FICO exceeds the guideline requirement of 660.

LTV: 80.00% LTV is less than the guideline requirement of 85.00%.

DTI: 9.35% DTI is less than the maximum guideline requirement of 50.00%.
   QC Complete 03/XX/2025     03/XX/2025
XX O1LDWUR0IZ3 XX   XX California 02/XX/2025 Cash Out Non-QM/Compliant 3 1 Compliance Compliance O1LDWUR0IZ3-WE2FAX95 Resolved 3 R * Revised Loan Estimate is missing (Lvl R) The Revised Loan Estimate dated 02/XX/2025, which is required by the Change to borrower’s interest rate lock YSP/Cost ($) from $5,567.80 to $3,517.80 and change of circumstance form on page #683.

Resolved 03/XX/2025: Received Revised Loan Estimate dated 02/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Revised Loan Estimate dated 02/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Revised Loan Estimate dated 02/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 3J4TT440FT1 XX   XX Ohio 04/XX/2025 Refinance Non-QM/Compliant 2 2 Credit Guidelines 3J4TT440FT1-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Non-permanent resident with class U2 visa.

A copy of an exception approval letter is available in the loan file.		     FICO: 723 FICO exceeds the guideline requirement of 660.

DTI: 30.90% DTI is less than the maximum guideline requirement of 50.00%.

LTV: 70.00% LTV is less than the guideline requirement of 80.00%.		   QC Complete 04/XX/2025     04/XX/2025
XX EZJKPIOEQWE XX   XX Utah 02/XX/2025 Purchase Non-QM/Compliant 3 1 Compliance Compliance EZJKPIOEQWE-IJH0N5PE Resolved 3 R * ComplianceEase TRID Tolerance Test is Incomplete (Lvl R) Initial Closing Disclosure is Missing.

Resolved 03/XX/2025: Received Initial Closing Disclosure dated 2/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Initial Closing Disclosure dated 2/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Initial Closing Disclosure dated 2/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 2WAMGPN5STX XX   XX Alabama 04/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines 2WAMGPN5STX-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Seeking exception for lack of tradelines for B1.

A copy of an exception approval letter is available in the loan file.		     FICO: 757 FICO exceeds the guideline requirement of 660.

LTV: 67.79% LTV is less than the guideline requirement of 90.00%.

   QC Complete 04/XX/2025     04/XX/2025
XX 0KYMBHHLSQ5 XX   XX Texas 02/XX/2025 Refinance Non-QM/Compliant 4 1 Compliance Compliance 0KYMBHHLSQ5-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.633% Allowed 8.420% Overby +0.213%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX OOU0NCWSIVM XX   XX Washington 03/XX/2025 Purchase Not Covered/Exempt 2 2 Credit Guidelines OOU0NCWSIVM-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Allowing Non-permanent resident buying investment property.

A copy of an exception approval letter is available in the loan file.		     FICO: 753 FICO exceeds the guideline requirement of 700.

DTI: 15.91% DTI is less than the maximum guideline requirement of 50.00%.
   QC Complete 03/XX/2025     03/XX/2025
XX HJKCCHZTKRU XX   XX Texas 03/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines HJKCCHZTKRU-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Requesting to use 100% of business assets from non-qualifying businesses.

A copy of an exception approval letter is available in the loan file.		     FICO: 718 FICO exceeds the guideline requirement of 700.

DTI: 6.42% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 04/XX/2025     03/XX/2025
XX 150U0TEM1PP XX   XX Florida 03/XX/2025 Purchase Not Covered/Exempt 2 2 Credit Guidelines 150U0TEM1PP-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Requesting exception for LTV of 80% with credit score below 720

A copy of an exception approval letter is available in the loan file.		     DTI: 29.83% DTI is less than the maximum guideline requirement of 50.00%.

Reserves: The 12 months of available reserves are more than the guideline requirement of 6 months.
   QC Complete 04/XX/2025     04/XX/2025
XX 5BFFYA2RI2L XX   XX Texas 02/XX/2025 Purchase Non-QM/Compliant 3 1 Compliance Compliance 5BFFYA2RI2L-T6JX6WMZ Resolved 3 R * Closing_Disclosure violations (Lvl R) A revised Closing Disclosure dated 02/XX/2025 is missing and required due to a change in the Borrower lock extended to 2/25 with lender credit of $4,972.50. Reference the change of circumstance form on page #1081.

Resolved 03/XX/2025: Received Revised Closing Disclosure dated 02/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Revised Closing Disclosure dated 02/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Revised Closing Disclosure dated 02/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX KPU5OYENAAW XX   XX Illinois 03/XX/2025 Cash Out Non-QM/Compliant 3 1 Credit Doc Issue KPU5OYENAAW-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) The amount of title insurance of $xx on the Title Commitment is less than the loan amount $xx


Resolved 04/XX/2025 - Received short form title, condition resolved.		 Resolved 04/XX/2025 - Received short form title, condition resolved. Resolved 04/XX/2025 - Received short form title, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX EBJDOGTVBAQ XX   XX Louisiana 03/XX/2025 Cash Out Non-QM/Compliant 3 2 Credit Guidelines EBJDOGTVBAQ-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Exception 1: Borrower FICO (691) VS guideline minimum FICO required is 700.

Exception 2: Dispute with xx-Cards not being removed and reporting 1*30 8/19 and DLA as 1/25.

A copy of an exception approval letter is available in the loan file.		     DTI: 26.73% DTI is less than the maximum guideline requirement of 50.00%.

Reserves: The 45 months of available reserves are more than the guideline requirement of 6 months.		   QC Complete 04/XX/2025     04/XX/2025
XX EBJDOGTVBAQ XX   XX Louisiana 03/XX/2025 Cash Out Non-QM/Compliant 3 2 Compliance Compliance EBJDOGTVBAQ-IJH0N5PE Resolved 3 R * ComplianceEase TRID Tolerance Test is Incomplete (Lvl R) Missing Initial Closing Disclosure.

Resolved 04/XX/2025: Received Initial Closing Disclosure dated 3/XX/2025 and exception is cleared.		 Resolved 04/XX/2025: Received Initial Closing Disclosure dated 3/XX/2025 and exception is cleared.  Resolved 04/XX/2025: Received Initial Closing Disclosure dated 3/XX/2025 and exception is cleared.      QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX MR5QKKAA12X XX   XX Idaho 03/XX/2025 Cash Out Non-QM/Compliant 3 1 Credit Credit MR5QKKAA12X-EDXGB1F3 Resolved 3 R * Required Documentation Missing (Lvl R) Provide a copy of bank statement for Account "xx" for month Feb-2024 statement.


Resolved 04/XX/2025 - Received bank statement, condition resolved.		 Resolved 04/XX/2025 - Received bank statement, condition resolved. Resolved 04/XX/2025 - Received bank statement, condition resolved.     QC Complete 03/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX MWHHVQJXNHQ XX   XX Washington 02/XX/2025 Cash Out Non-QM/Compliant 3 1 Compliance Doc Issue MWHHVQJXNHQ-2VXD5FWR Resolved 3 R * Initial Escrow Acct Disclosure missing; loan has escrows (Lvl R) Missing Initial Escrow Account Disclosure.

Resolved 03/XX/2025: Received Initial Escrow Account Disclosure and exception is cleared.		 Resolved 03/XX/2025: Received Initial Escrow Account Disclosure and exception is cleared.  Resolved 03/XX/2025: Received Initial Escrow Account Disclosure and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX YXOCU44GIMU XX   XX Texas 04/XX/2025 Cash Out Non-QM/Compliant 2 2 Credit Guidelines YXOCU44GIMU-OLWB1YD6 Waived 2 W * Number of Collections exceed guidelines (Lvl W) Exception for not satisfy collection account (xx ) greater than $2000 and less than 12 months old.

A copy of an exception approval letter is available in the loan file.		     LTV: 34.01% LTV is less than the guideline requirement of 80.00%.

DTI: 40.58% DTI is less than the maximum guideline requirement of 50.00%.

FICO: 761 FICO exceeds the guideline requirement of 660.
   QC Complete 04/XX/2025     04/XX/2025
XX YXOCU44GIMU XX   XX Texas 04/XX/2025 Cash Out Non-QM/Compliant 2 2 Credit Guidelines YXOCU44GIMU-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Exception to permit 20% above maximum proceeds of new guideline limit of $1,182,828.20 for a maximum proceed of $750,000

A copy of an exception approval letter is available in the loan file.		     LTV: 34.01% LTV is less than the guideline requirement of 80.00%.

DTI: 40.58% DTI is less than the maximum guideline requirement of 50.00%.

FICO: 761 FICO exceeds the guideline requirement of 660.		   QC Complete 04/XX/2025     04/XX/2025
XX OQ3S1DAMQPJ XX   XX Florida 03/XX/2025 Purchase Non-QM/Compliant 3 1 Compliance Compliance OQ3S1DAMQPJ-FSGBNA1Z Resolved 3 R * Missing Required Disclosures (Lvl R) Missing Settlement Service Provider List.

Resolved 04/XX/2025: Received Settlement Service Provider List and exception is cleared.		 Resolved 04/XX/2025: Received Settlement Service Provider List and exception is cleared.  Resolved 04/XX/2025: Received Settlement Service Provider List and exception is cleared.      QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX KYPMO1J4JMF XX   XX Virginia 03/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Doc Issue KYPMO1J4JMF-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) The $xx coverage amount on the title report is less than the mortgage loan amount of $xx


Resolved 04/XX/2025 - Received title insured amount, condition resolved.		 Resolved 04/XX/2025 - Received title insured amount, condition resolved. Resolved 04/XX/2025 - Received title insured amount, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX KYPMO1J4JMF XX   XX Virginia 03/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Credit KYPMO1J4JMF-UDN50XOG Resolved 3 R * Borrower Identity Missing (Lvl R) Provide a fully visible copy of updated driving license "xx


Resolved 04/XX/2025 - Received GOV ID, condition resolved.		 Resolved 04/XX/2025 - Received GOV ID, condition resolved. Resolved 04/XX/2025 - Received GOV ID, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX EGBFJUJZBS1 XX   XX Florida 03/XX/2025 Purchase Not Covered/Exempt 3 2 Credit Doc Issue EGBFJUJZBS1-U1CA63D2 Resolved 3 R * Application Missing (Lvl R) Provide a copy of Final 1003 as it is missing.

Resolved-03/XX/2025- Final 1003 Application received.		 Resolved-03/XX/2025- Final 1003 Application received. Resolved-03/XX/2025- Final 1003 Application received.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX EGBFJUJZBS1 XX   XX Florida 03/XX/2025 Purchase Not Covered/Exempt 3 2 Credit Guidelines EGBFJUJZBS1-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Non-incidental income of 20%.

A copy of an exception approval letter is available in the loan file.		     FICO: 790 FICO exceeds the guideline requirement of 720.

DSCR: 1.19 DSCR exceeds the guideline requirement of 1.00.

Reserves: The 60 months of available reserves are more than the guideline requirement of 6 months.
   QC Complete 04/XX/2025     03/XX/2025
XX 1FCO12UBGFF XX   XX South Carolina 04/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines 1FCO12UBGFF-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) 18 NSFs vs max 6 NSFs in most recent 12 months per guidelines

A copy of an exception approval letter is available in the loan file.		     DTI: 3.98% DTI is less than the maximum guideline requirement of 50.00%.

LTV: 75.00% LTV is less than the guideline requirement of 80.00%.

Reserves: The 23 months of available reserves are more than the guideline requirement of 3 months.		   QC Complete 04/XX/2025     04/XX/2025
XX IRHBMI12VAO XX   XX Colorado 03/XX/2025 Purchase Not Covered/Exempt 3 1 Credit Credit IRHBMI12VAO-U0OKEMMW Resolved 3 R * Required Documentation Missing or Incomplete  (Lvl R) Hazard insurance does not reflect the mortgagee clause due to missing 2 of 2 page.


Resolved 03/XX/2025 - Received insurance with mortgage clause, condition resolved.		 Resolved 03/XX/2025 - Received insurance with mortgage clause, condition resolved. Resolved 03/XX/2025 - Received insurance with mortgage clause, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX DTG5SUEBVGB XX   XX Indiana 03/XX/2025 Cash Out Non-QM/Compliant 2 2 Credit Guidelines DTG5SUEBVGB-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Waive the need for second appraisal due to rapid appreciation as long as CDA supports value.

A copy of an exception approval letter is available in the loan file.		     FICO: 743 FICO exceeds the guideline requirement of 660.

Reserves: The 71 months of available reserves are more than the guideline requirement of 6 months.

DTI: 19.24% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 04/XX/2025     03/XX/2025
XX 4ASTIZWXBWF XX   XX New York 02/XX/2025 Purchase Not Covered/Exempt 3 1 Credit Doc Issue 4ASTIZWXBWF-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) Provide updated supplemental report with amount of title insurance covering the loan amount $xx


Resolved 03/XX/2025 - Received final title policy, condition resolved.		 Resolved 03/XX/2025 - Received final title policy, condition resolved. Resolved 03/XX/2025 - Received final title policy, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX QM2NL0BC2LY XX   XX North Carolina 02/XX/2025 Purchase Non-QM/Compliant 4 2 Compliance Compliance QM2NL0BC2LY-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.499% Allowed 8.430% Overby +0.069%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35.
 This loan is compliant with regulation 1026.35.
     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX QM2NL0BC2LY XX   XX North Carolina 02/XX/2025 Purchase Non-QM/Compliant 4 2 Credit Guidelines QM2NL0BC2LY-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Living rent free more than 12 months without having a 12-month housing payment history within the past 3 years.

A copy of an exception approval letter is available in the loan file.		     DTI: 37.60% DTI is less than the maximum guideline requirement of 43.00%.

FICO: 764 FICO exceeds the guideline requirement of 660.

Reserves: The 60 months of available reserves are more than the guideline requirement of 6 months.
   QC Complete 04/XX/2025     03/XX/2025
XX VYIR2FQDICJ XX   XX Alabama 03/XX/2025 Purchase Non-QM/Compliant 4 1 Credit Doc Issue VYIR2FQDICJ-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) The $xx coverage amount on the title report is less than the mortgage loan amount of $xx


Resolved 03/XX/2025 - Received title report, condition resolved.		 Resolved 03/XX/2025 - Received title report, condition resolved. Resolved 03/XX/2025 - Received title report, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX VYIR2FQDICJ XX   XX Alabama 03/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance VYIR2FQDICJ-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.874% Allowed 8.370% +Overby 1.504%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35.
 This loan is compliant with regulation 1026.35.
     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX URSXXMFDIFN XX   XX Hawaii 02/XX/2025 Purchase Non-QM/Compliant 3 2 Credit Guidelines URSXXMFDIFN-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Using 100% of business assets.

A copy of an exception approval letter is available in the loan file.		     FICO: 769 FICO exceeds the guideline requirement of 660.

LTV: 80.00% LTV is less than the guideline requirement of 90.00%.

DTI: 37.80% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 03/XX/2025     03/XX/2025
XX URSXXMFDIFN XX   XX Hawaii 02/XX/2025 Purchase Non-QM/Compliant 3 2 Credit Doc Issue URSXXMFDIFN-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) Provide updated supplemental report with amount of title insurance covering the loan amount $xx


Resolved 03/XX/2025 - Received final title policy, condition resolved.		 Resolved 03/XX/2025 - Received final title policy, condition resolved. Resolved 03/XX/2025 - Received final title policy, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 02RFHKQCHM5 XX   XX Massachusetts 02/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines 02RFHKQCHM5-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Living rent free more than 12 months without having a 12-month housing payment history within the past 3 years.

A copy of an exception approval letter is available in the loan file.		     FICO: 814 FICO exceeds the guideline requirement of 660.

LTV: 33.85% LTV is less than the guideline requirement of 90.00%.

DTI: 29.92% DTI is less than the maximum guideline requirement of 43.00%.		   QC Complete 03/XX/2025     03/XX/2025
XX WN4PLSBM4X5 XX   XX Florida 03/XX/2025 Cash Out Non-QM/Compliant 4 1 Compliance Compliance WN4PLSBM4X5-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.502% Allowed 8.350% Overby +0.152%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 02Z1RXIVR5G XX   XX Texas 04/XX/2025 Purchase Non-QM/Compliant 4 2 Compliance Compliance 02Z1RXIVR5G-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.069% Allowed 8.160% Overby +0.909%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX 02Z1RXIVR5G XX   XX Texas 04/XX/2025 Purchase Non-QM/Compliant 4 2 Credit Guidelines 02Z1RXIVR5G-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) SLE to accept verification of rent from landlord/seller on non-arms length without cancelled checks as borrower paid with cash in hand.

A copy of an exception approval letter is available in the loan file.		     DTI: 9.12% DTI is less than the maximum guideline requirement of 50.00%.

Reserves: The 52 months of available reserves are more than the guideline requirement of 6 months.		   QC Complete 04/XX/2025     04/XX/2025
XX QQJ12ZIATNN XX   XX Illinois 03/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance QQJ12ZIATNN-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 10.033% Allowed 8.350% Overby +1.683%.

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35.
 This loan is compliant with regulation 1026.35.
     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX HQDVEZGQSX2 XX   XX Arizona 02/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Doc Issue HQDVEZGQSX2-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) The amount of title insurance of $xx on the Title Commitment is less than the loan amount $xx


Resolved 03/XX/2025 - Received title report, condition resolved.		 Resolved 03/XX/2025 - Received title report, condition resolved. Resolved 03/XX/2025 - Received title report, condition resolved.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX VZGO2P3YLXM XX   XX New Hampshire 03/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Credit VZGO2P3YLXM-U0OKEMMW Resolved 3 R * Required Documentation Missing or Incomplete  (Lvl R) Primary borrower's driving license expired on October xx, 2024. Provide a copy of an updated GOV ID.


Resolved 04/XX/2025 - Received Valid Borrower GOV ID, Condition resolved.		 Resolved 04/XX/2025 - Received Valid Borrower GOV ID, Condition resolved. Resolved 04/XX/2025 - Received Valid Borrower GOV ID, Condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX LSY5NN5G0XW XX   XX Texas 03/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines LSY5NN5G0XW-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) FTHB live rent free for more than a year.

A copy of an exception approval letter is available in the loan file.		     DTI: 21.68% DTI is less than the maximum guideline requirement of 50.00%.

FICO: 715 FICO exceeds the guideline requirement of 700.

Residual Income: $19,631.79. monthly.

   QC Complete 03/XX/2025     03/XX/2025
XX IEH152VEF3A XX   XX California 04/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Credit IEH152VEF3A-UDN50XOG Resolved 3 R * Borrower Identity Missing (Lvl R) Provide legible copy of driver's license or other acceptable form of Identification for borrower as it is missing.


Resolved 04/XX/2025 - Received Gov ID, condition resolved.		 Resolved 04/XX/2025 - Received Gov ID, condition resolved. Resolved 04/XX/2025 - Received Gov ID, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX IEH152VEF3A XX   XX California 04/XX/2025 Purchase Non-QM/Compliant 3 1 Credit Credit IEH152VEF3A-U0OKEMMW Resolved 3 R * Required Documentation Missing or Incomplete  (Lvl R) Provide the condo questionnaire, as it is missing.


Resolved 04/XX/2025 - Received Client response as condo questionnaire is not required for Fannie mae project, condition resolved.		 Resolved 04/XX/2025 - Received Client response as condo questionnaire is not required for Fannie mae project, condition resolved. Resolved 04/XX/2025 - Received Client response as condo questionnaire is not required for Fannie mae project, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX IEH152VEF3A XX   XX California 04/XX/2025 Purchase Non-QM/Compliant 3 1 Compliance Compliance IEH152VEF3A-FSGBNA1Z Resolved 3 R * Missing Required Disclosures (Lvl R) Missing Settlement Service Provider list.

Resolved 04/XX/2025: Received Settlement Service Provider List dated 3/XX/2025 and exception is cleared.		 Resolved 04/XX/2025: Received Settlement Service Provider List dated 3/XX/2025 and exception is cleared.  Resolved 04/XX/2025: Received Settlement Service Provider List dated 3/XX/2025 and exception is cleared.      QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX IWN0UAUQBAB XX   XX Louisiana 02/XX/2025 Purchase Non-QM/Compliant 4 2 Compliance Compliance IWN0UAUQBAB-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.245% Allowed 8.420% Overby +0.825%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 02/XX/2025 02/XX/2025 02/XX/2025 02/XX/2025
XX IWN0UAUQBAB XX   XX Louisiana 02/XX/2025 Purchase Non-QM/Compliant 4 2 Credit Guidelines IWN0UAUQBAB-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) To permit December 2024 cash payment for rent which cannot be documented. Guideline require 12 months rent history.

A copy of an exception approval letter is available in the loan file.		     DTI: 26.48% DTI is less than the maximum guideline requirement of 50.00%.

FICO: 740 FICO exceeds the guideline requirement of 700.		   QC Complete 02/XX/2025     02/XX/2025
XX IWN0UAUQBAB XX   XX Louisiana 02/XX/2025 Purchase Non-QM/Compliant 4 2 Compliance Doc Issue IWN0UAUQBAB-2VXD5FWR Resolved 3 R * Initial Escrow Acct Disclosure missing; loan has escrows (Lvl R) Missing Initial Escrow Account Disclosure.

Resolved 03/XX/2025: Received Initial Escrow Account Disclosure and exception is cleared.		 Resolved 03/XX/2025: Received Initial Escrow Account Disclosure and exception is cleared.  Resolved 03/XX/2025: Received Initial Escrow Account Disclosure and exception is cleared.      QC Complete 02/XX/2025 03/XX/2025 03/XX/2025 02/XX/2025
XX XSWAWEKW1HY XX   XX Virginia 04/XX/2025 Purchase Non-QM/Compliant 4 2 Credit Guidelines XSWAWEKW1HY-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Requesting exception to permit 1 day under two years employment history.

A copy of an exception approval letter is available in the loan file.		     FICO: 725 FICO exceeds the guideline requirement of 660.

DTI: 22.09% DTI is less than the maximum guideline requirement of 50.00%.
   QC Complete 04/XX/2025     04/XX/2025
XX XSWAWEKW1HY XX   XX Virginia 04/XX/2025 Purchase Non-QM/Compliant 4 2 Compliance Compliance XSWAWEKW1HY-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1)  Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.828% Allowed 8.150% Overby +0.678%.

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35.
 This loan is compliant with regulation 1026.35.
     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX IAGIFZWV0Q3 XX   XX Maryland 03/XX/2025 Purchase Not Covered/Exempt 3 1 Credit Doc Issue IAGIFZWV0Q3-U1CA63D2 Resolved 3 R * Application Missing (Lvl R) Provide Final 1003 as it is missing.

Resolved 04/XX/2025 - Received Business Entity document - Investment loan, condition resolved.		 Resolved 04/XX/2025 - Received Business Entity document - Investment loan, condition resolved. Resolved 04/XX/2025 - Received Business Entity document - Investment loan, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX HKVFADP4RUV XX   XX North Carolina 03/XX/2025 Purchase Not Covered/Exempt 3 1 Credit Credit HKVFADP4RUV-UDN50XOG Resolved 3 R * Borrower Identity Missing (Lvl R) Please provide a clear copy of the driver's license or another acceptable form of identification for the borrower (xx), as the current one expired on 11/XX/2024.


Resolved 04/XX/2025 - Received Gov Id with Valid expiry date, condition resolved.		 Resolved 04/XX/2025 - Received Gov Id with Valid expiry date, condition resolved. Resolved 04/XX/2025 - Received Gov Id with Valid expiry date, condition resolved.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX 30JUN0HH5W4 XX   XX Florida 02/XX/2025 Purchase Not Covered/Exempt 3 1 Credit Other Disclosures 30JUN0HH5W4-ZXHR0C1D Resolved 3 R * Missing Required Disclosures (Lvl R) Provide a copy of Taxes ,Insurance & HOA for primary property - xx


Resolved 03/XX/2025 - Received mortgage statement, condition resolved.		 Resolved 03/XX/2025 - Received mortgage statement, condition resolved.
 Resolved 03/XX/2025 - Received mortgage statement, condition resolved.
     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX ZKEDPLBIDJN XX   XX California 03/XX/2025 Refinance Non-QM/Compliant 4 2 Credit Guidelines ZKEDPLBIDJN-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Requesting exception to count borrower’s IRA as liquid funds (not 59.5 yet)

A copy of an exception approval letter is available in the loan file.		     FICO: 702 FICO exceeds the guideline requirement of 660.

LTV: 75.00% LTV is less than the guideline requirement of 85.00%.

   QC Complete 04/XX/2025     03/XX/2025
XX ZKEDPLBIDJN XX   XX California 03/XX/2025 Refinance Non-QM/Compliant 4 2 Compliance Compliance ZKEDPLBIDJN-7NVY4BLQ Resolved 4 R * State Higher Price Mortgage Loan (Lvl R) CA AB 260, California Financial Code Division 1.9 4995(a) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the California Financial Code.

CA AB 260 Higher-Priced Mortgage Loan Test: Charged 8.255% Allowed 8.230% Overby +0.025%

This loan is compliant with regulation CA AB 260, California Financial Code Division 1.9 4995(a).		 This loan is compliant with regulation CA AB 260, California Financial Code Division 1.9 4995(a).
 This loan is compliant with regulation CA AB 260, California Financial Code Division 1.9 4995(a).
     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX ZKEDPLBIDJN XX   XX California 03/XX/2025 Refinance Non-QM/Compliant 4 2 Compliance Compliance ZKEDPLBIDJN-KCK2O87U Cured 3 C * 0% Tolerance Fees test fail (Lvl C) TRID violation due to credit report fee increase on Initial CD dated 02/XX/2025. Initial LE dated 01/XX/2025 reflects credit report fee as $75.00 however, Final CD dated 03/XX/2025 reflects the credit report fee as $81.62. Require PCCD/COC to cure the tolerance violation of $6.62.

Cured 04/XX/2025: Received PCCD and Cure letter of explanation dated 04/XX/2025 and exception is cured.		 Cured 04/XX/2025: Received PCCD and Cure letter of explanation dated 04/XX/2025 and exception is cured. Cured 04/XX/2025: Received PCCD and Cure letter of explanation dated 04/XX/2025 and exception is cured.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX ZKEDPLBIDJN XX   XX California 03/XX/2025 Refinance Non-QM/Compliant 4 2 Compliance Compliance ZKEDPLBIDJN-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.255% Allowed 8.230% Overby +0.025%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX ADPTOA5RV2Y XX   XX California 03/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines ADPTOA5RV2Y-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Requesting exception to permit 100% of business funds in xx

A copy of an exception approval letter is available in the loan file.		     FICO: 789 FICO exceeds the guideline requirement of 660.

LTV: 20.00% LTV is less than the guideline requirement of 90.00%.

DTI: 32.93% DTI is less than the maximum guideline requirement of 50.00%.		   QC Complete 04/XX/2025     03/XX/2025
XX YN05IRKYDKV XX   XX California 03/XX/2025 Refinance Non-QM/Compliant 4 1 Compliance Compliance YN05IRKYDKV-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.120% Allowed 8.120% Overby 0.000%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35.
 This loan is compliant with regulation 1026.35.
     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX YN05IRKYDKV XX   XX California 03/XX/2025 Refinance Non-QM/Compliant 4 1 Compliance Compliance YN05IRKYDKV-7NVY4BLQ Resolved 4 R * State Higher Price Mortgage Loan (Lvl R) CA AB 260, California Financial Code Division 1.9 4995(a) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the California Financial Code.

CA AB 260 Higher-Priced Mortgage Loan Test: Charged 8.120% Allowed 8.120% Overby 0.000%

This loan is compliant with regulation CA AB 260, California Financial Code Division 1.9 4995(a).		 This loan is compliant with regulation CA AB 260, California Financial Code Division 1.9 4995(a).
 This loan is compliant with regulation CA AB 260, California Financial Code Division 1.9 4995(a).
     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX KIBE0P25GM0 XX   XX Texas 03/XX/2025 Refinance Non-QM/Compliant 4 1 Compliance Compliance KIBE0P25GM0-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1)  Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.525% Allowed 8.350% Overby +0.175%.

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35.
 This loan is compliant with regulation 1026.35.
     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX LS1AEVOXATJ XX   XX New York 02/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines LS1AEVOXATJ-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) SLE approved subject to max 85% LTV and the loan CANNOT be HPML. UW to add PTF condition that Loan cannot
be HPML or escrow account is required.

A copy of an exception approval letter is available in the loan file.		     DTI: 38.34% DTI is less than the maximum guideline requirement of 50.00%.

FICO: 741 FICO exceeds the guideline requirement of 700.		   QC Complete 03/XX/2025     03/XX/2025
XX YLDDZBT3UXK XX   XX Florida 02/XX/2025 Cash Out Non-QM/Compliant 4 1 Compliance Compliance YLDDZBT3UXK-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.532% Allowed 8.380% Overby +0.152%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35.
 This loan is compliant with regulation 1026.35.
     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX FMOWSH2QEGJ XX   XX New York 03/XX/2025 Purchase Non-QM/Compliant 4 2 Credit Guidelines FMOWSH2QEGJ-J587LE2V Resolved 4 R * Loan does not conform to program guidelines (Lvl R) The borrower has exceeded the guideline for living rent-free, as they have lived rent-free for two years, while the maximum allowed is only 12 months prior to the application date.


04/XX/2025: Received Final CD showing the borrower owned a property within the past 3 years.  Borrower is not a FTHB so housing history requirement does not apply.  Exception resolved.		 04/XX/2025: Received Final CD showing the borrower owned a property within the past 3 years.  Borrower is not a FTHB so housing history requirement does not apply.  Exception resolved.  04/XX/2025: Received Final CD showing the borrower owned a property within the past 3 years.  Borrower is not a FTHB so housing history requirement does not apply.  Exception resolved.      QC Complete 05/XX/2025 05/XX/2025 05/XX/2025 03/XX/2025
XX FMOWSH2QEGJ XX   XX New York 03/XX/2025 Purchase Non-QM/Compliant 4 2 Credit Credit FMOWSH2QEGJ-EDXGB1F3 Waived 2 W * Required Documentation Missing (Lvl W) To waive requirement for second full appraisal due to appreciation greater than 10% within the last 90 days.

A copy of an exception approval letter is available in the loan file.		     FICO: 765 FICO exceeds the guideline requirement of 700.

DTI: 38.36% DTI is less than the maximum guideline requirement of 50.00%.

Residual Income : $7,312.81 monthly.		   QC Complete 05/XX/2025     05/XX/2025
XX BE0FNDDVGBW XX   XX Utah 03/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines BE0FNDDVGBW-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) Condotel without a separate bedroom

A copy of an exception approval letter is available in the loan file.		     DTI: 19.58% DTI is less than the maximum guideline requirement of 50.00%.

FICO: 785 FICO exceeds the guideline requirement of 660.

LTV: 60.00% LTV is less than the guideline requirement of 80.00%.		   QC Complete 04/XX/2025     03/XX/2025
XX OB13V5VLRTC XX   XX Georgia 03/XX/2025 Cash Out Non-QM/Compliant 3 1 Credit Doc Issue OB13V5VLRTC-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) The amount of title insurance of $xx on the Title Commitment is less than the loan amount $xx


Resolved 04/XX/2025 :  Received title report ,condition resolved.		 Resolved 04/XX/2025 :  Received title report ,condition resolved. Resolved 04/XX/2025 :  Received title report ,condition resolved.     QC Complete 03/XX/2025 04/XX/2025 04/XX/2025 03/XX/2025
XX RAXZFNLDC1Q XX   XX New York 02/XX/2025 Purchase Non-QM/Compliant 2 2 Credit Guidelines RAXZFNLDC1Q-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) To approve 20 NSF charges on XX calculation.

A copy of an exception approval letter is available in the loan file.		     FICO: 769 FICO exceeds the guideline requirement of 660.

Reserves: The 6 months of available reserves are more than the guideline requirement of 3 months.
   QC Complete 03/XX/2025     03/XX/2025
XX QQS0EM33HIJ XX   XX Colorado 03/XX/2025 Cash Out Non-QM/Compliant 4 1 Compliance Compliance QQS0EM33HIJ-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.422% Allowed 8.120% Overby +0.302%.

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35.
 This loan is compliant with regulation 1026.35.
     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX JQLOEEZCJBW XX   XX Florida 03/XX/2025 Cash Out Non-QM/Compliant 3 1 Credit Doc Issue JQLOEEZCJBW-V7TJ126N Resolved 3 R * Amount of title insurance is less than mortgage amount (Lvl R) The amount of title insurance of $xx on the Title Commitment is less than the loan amount $xx


Resolved 04/XX/2025 - Received Title insured amount, condition resolved.		 Resolved 04/XX/2025 - Received Title insured amount, condition resolved.
 Resolved 04/XX/2025 - Received Title insured amount, condition resolved.
     QC Complete 04/XX/2025 04/XX/2025 04/XX/2025 04/XX/2025
XX 21UBXLV1NFU XX   XX South Carolina 02/XX/2025 Purchase Non-QM/Compliant 3 2 Compliance Compliance 21UBXLV1NFU-WE2FAX95 Resolved 3 R * Revised Loan Estimate is missing (Lvl R) A revised LE dated 02/XX/2025 is missing and required due to a change in the Note Rate changed from 7.375 to 7.25 Reference the change of circumstance form on page #634.

Resolved 03/XX/2025: Received Revised LE dated 02/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Revised LE dated 02/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Revised LE dated 02/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 21UBXLV1NFU XX   XX South Carolina 02/XX/2025 Purchase Non-QM/Compliant 3 2 Compliance Compliance 21UBXLV1NFU-IJH0N5PE Resolved 3 R * ComplianceEase TRID Tolerance Test is Incomplete (Lvl R) Missing Initial Closing Disclosure.

Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared.		 Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared.  Resolved 03/XX/2025: Received Initial Closing Disclosure dated 02/XX/2025 and exception is cleared.      QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX 21UBXLV1NFU XX   XX South Carolina 02/XX/2025 Purchase Non-QM/Compliant 3 2 Credit Guidelines 21UBXLV1NFU-J587LE2V Waived 2 W * Loan does not conform to program guidelines (Lvl W) 1 appraisal provided however 2 appraisals required per flipping guidelines.

A copy of an exception approval letter is available in the loan file.		     FICO: 799 FICO exceeds the guideline requirement of 700.

Residual Income: $7,916.19 monthly.		   QC Complete 03/XX/2025     03/XX/2025
XX LMJV4QV1CAI XX   XX California 03/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance LMJV4QV1CAI-O5S9HFJ8 Resolved 4 R * Federal Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.513% Allowed 8.230% Overby +0.283%

This loan is compliant with regulation 1026.35.		 This loan is compliant with regulation 1026.35. This loan is compliant with regulation 1026.35.     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025
XX LMJV4QV1CAI XX   XX California 03/XX/2025 Purchase Non-QM/Compliant 4 1 Compliance Compliance LMJV4QV1CAI-7NVY4BLQ Resolved 4 R * State Higher Price Mortgage Loan (Lvl R) CA AB 260, California Financial Code Division 1.9 4995(a) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the California Financial Code.

CA AB 260 Higher-Priced Mortgage Loan Test: Charged 8.513% Allowed 8.230% Overby +0.283%

This loan is compliant with regulation CA AB 260, California Financial Code Division 1.9 4995(a).		 This loan is compliant with regulation CA AB 260, California Financial Code Division 1.9 4995(a). This loan is compliant with regulation CA AB 260, California Financial Code Division 1.9 4995(a).     QC Complete 03/XX/2025 03/XX/2025 03/XX/2025 03/XX/2025