CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. ABS-15G

Exhibit 99.12

Exception Grades

Run Date - 7/12/2021 1:56:57 PM

AMC Loan ID

CS Loan ID

Customer Loan ID

Seller Loan ID

Investor Loan Number

Loan Exception ID

Exception ID

Exception Date

Exception Type

Exception Category

Exception Subcategory

15E Category

Exception

Exception Detail

Exception Information

Compensating Factors

Compensating Factor Information

Applying Party

Follow-up Comments

Cleared Date

Cured Date

Waived Date

Exception Level Grade

Exception Level Rating

Note Date

Property State

Occupancy

Purpose

Exception Remediation

Overall Initial Loan Grade

Overall Final Loan Grade

Credit Initial Loan Grade

Credit Final Loan Grade

Compliance Initial Loan Grade

Compliance Final Loan Grade

Property Initial Loan Grade

Property Final Loan Grade

Originator QM ATR Status

TPR QM ATR Status

Is Curable

XXXX

431126754

XXXX

XXXX

17719866

431126754-605

06/08/2020

Credit

Asset

Asset Documentation

Asset

Assets Error: Usability  was not provided

Provide evidence of ownership in XXXX. A majority of the assets used to qualify are from this business account.

Reviewer Comment (2020-07-07): Not required as there is an account statement for the borrowing entity with enough to satisfy the reserves requirement. Reviewer Comment (2020-06-24): Removing assets from XXXX, the borrower does not have sufficient reserve liquidity nor cash to close. Condition remains. Seller Comment (2020-06-24): XXXX bank statement show sufficient liquidity

07/07/2020

1

A

XXXX

GA

Investment

Purchase

C

A

C

A

A

A

No

XXXX

431088738

XXXX

XXXX

17888334

201300005712-22154

04/03/2020

Credit

Insurance

Insurance Analysis

Insurance

The Hazard Insurance Policy effective date is after the Transaction Date.

Hazard Insurance Policy Effective Date XXXX, Transaction Date:  XXXX

Effective date shown on Evidence of Property Insurance is 02/07/20.  The closing date is XXXX.

Reviewer Comment (2020-04-20): Appears most recent comments are in relation to asset exception, which has been cleared.  Final closing statement in file shows the disbursement date for this CA transaction was XXXX. Policy in place at that time. Exception cleared. Buyer Comment (2020-04-16): Requesting that stip to be removed.  Total Verified Assets of $1,145,554.89 as reflected on the final 1008 is comprised of $5,324.34 held in XXXX account #9100 and $1,140,230.55 held in XXXX account #7560.  Account #9688 not considered in qualifying. Buyer Comment (2020-04-16): Please disregard hazard insurance docs attached. They are for the REO property. Previous comment is for subject property. Buyer Comment (2020-04-16): Requesting that stip to be removed.  Insurance policy in force at time of closing.  EOI in file reflects an effective date of 02/07/20.  Final Settlement Statement in file reflects a closing date of XXXX and disbursement date of XXXX.  Pulled for submission.

04/20/2020

1

A

XXXX

CA

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

431088738

XXXX

XXXX

17888336

201300005712-7038

04/03/2020

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing. (Initial/XXXX)

The Initial CD was issued XXXX.  It has not been signed by the borrower; unable to determine actual date of receipt.

Reviewer Comment (2020-05-12): Proof of receipt provided Reviewer Comment (2020-04-27): please provide e-signed copy on the XXXX Initial CD Buyer Comment (2020-04-27): "Disagree with finding Initial CD issued XXXX and esigned XXXX. Suspect reviewer was provided with an unsigned copy"

05/12/2020

1

A

XXXX

CA

Second Home

Purchase

No Defined Cure

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

431088738

XXXX

XXXX

17888337

201300005712-3907

04/03/2020

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Loan Estimate Timing

TILA-RESPA Integrated Disclosure: Loan Estimate not delivered or placed in the mail to Borrower(s) within three (3) business days of application. (Initial/XXXX)

The eSign Process Summary shows the Acknowledgment of Receipt of Loan Estimate was sent to the borrower on XXXX.  The first LE found in the file was issued XXXX.

Reviewer Comment (2020-05-12): Initial LE provided Reviewer Comment (2020-04-27): LE issued XXXX not in the loan file - Please provide Buyer Comment (2020-04-27): "Disagree with finding Initial LE issued XXXX and esigned XXXX Suspect reviewer was provided with an unsigned copy"

05/12/2020

1

A

XXXX

CA

Second Home

Purchase

No Defined Cure

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

431088738

XXXX

XXXX

17888338

201300005712-3988

04/03/2020

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Timing Before Closing

TILA-RESPA Integrated Disclosure: Revised Loan Estimate provided on 01/30/2020 not received by borrower at least four (4) business days prior to closing. (Interim/XXXX)

The Revised LE was issued XXXX.  The document has not been signed by the borrower; unable to determine actual date of receipt due to lack of documentation in the file.

Reviewer Comment (2020-05-14): SitusAMC received electronic delivery documentation. Reviewer Comment (2020-04-27): LE issued XXXX in the loan file is not E-signed.  Please provide E-signed copy Buyer Comment (2020-04-27): "Disagree with finding Final LE issued XXXX and esigned XXXX Suspect reviewer was provided with an unsigned copy"

05/14/2020

1

A

XXXX

CA

Second Home

Purchase

No Defined Cure

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

431088738

XXXX

XXXX

17888341

201300005712-23688

04/03/2020

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

The Evidence of Property Insurance document shows Dwelling Coverage in the amount of $990,000 with 25% Extended Coverage.  There is a coverage shortfall in the amount of $XXXX.  No Replacement Cost Estimator was found in the file.

Reviewer Comment (2020-04-17): Replacement Cost Estimator has been provided.  Coverage is sufficient.

04/17/2020

1

A

XXXX

CA

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

431088738

XXXX

XXXX

17888342

201300005712-25838

04/03/2020

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Address: XXXX, Address: XXXX, Address: XXXX HOA Verification, Insurance Verification HOA Verification

Missing Insurance Verification document and HOA Verification document for Other REO property.

Reviewer Comment (2020-05-14): Received all required docs

05/14/2020

1

A

XXXX

CA

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

431088738

XXXX

XXXX

17888343

201300005712-25838

04/03/2020

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Address: XXXX HOA Verification, Insurance Verification, Tax Verification

Missing Tax Verification, Insurance Verification and HOA Verification for Other REO property.

Reviewer Comment (2020-05-14): Received all required docs Reviewer Comment (2020-04-17): Information provided for XXXX; still needed for XXXX. Buyer Comment (2020-04-16): Requesting that stip to be removed.  Property located at XXXX disclosed as a SFR – no documentation to suggest it is subject to HOA Dues.  EOI reflects an annual premium of $2,579.00 or $214.92/m.  Tax payment inquiry reflects an annual assessment of $XXXX or $XXXX/m.  Pulled for submission.  The TIA figure of $2,489.19/m considered in qualifying is consistent with the documentation in file.

05/14/2020

1

A

XXXX

CA

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

431088738

XXXX

XXXX

17888344

201300005712-5404

04/03/2020

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Borrower: XXXX P&L Statement

Missing K-1 Statement and P&L Statement for XXXX.  Only page 1 of the 1120S was submitted.

The qualifying DTI on the loan is at least 10% less than the guideline maximum. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00. Borrower has worked in the same position for more than 3 years. Borrower has been employed in the same industry for more than 5 years.

Owner Owner Owner Owner

Reviewer Comment (2021-05-21): CF provided Reviewer Comment (2021-05-21): CS provide below CF and requested waive to EV2. Residual Income: $20,659.84/month Length of Employment: 7.3 Liquid Reserves: 551,134.20 (89 Months) Reviewer Comment (2020-05-27): Exception Explanation Updated from: K-1 (2018), P&L Statement Reviewer Comment (2020-05-27): the P&L is not required on the 1 year program however, program requires current year tax returns.  Per guidelines for 1 Year Flex program.  Application date and Note date are 2020 most recent tax docs are 2018.  Using a 2 year average will create a significantly higher DTI and loan will not qualify. Buyer Comment (2020-05-20): Per the National Underwriting Managers review The 1 year income documentation deals didn’t require  P&Ls.  It qualified on the most recent tax return filing Reviewer Comment (2020-05-15): Received K1, still missing 2019 YE P&L. Reviewer Comment (2020-05-14): All statements to the 1120S have not been provided. Reviewer Comment (2020-04-20): Client states complete 1120S and K-1 for this entity is in file. However, this documentation has not been included in the file provided for review at this time. Please provide K-1, 1120S, and P&L for Christian Tse Designs & MFG, Inc in order to clear. Buyer Comment (2020-04-18): Requesting that stip be revised.  File contains complete 1120S and K-1 for entity (64 pages).

05/21/2021

2

B

XXXX

CA

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

431088738

XXXX

XXXX

17888345

201300005712-3831

04/03/2020

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing K-1 Statement and P&L Statement for XXXX.  Only page 1 of the 1120S was submitted.

Reviewer Comment (2020-05-27): Not required on the 1 year program however, program requires current year tax returns.  Per guidelines for 1 Year Flex program.  Application date and Note date are 2020 most recent tax docs are 2018.  Using a 2 year average will create a significantly higher DTI and loan will not qualify. Buyer Comment (2020-05-20): Per the National Underwriting Managers review The 1 year income documentation deals didn’t require  P&Ls.  It qualified on the most recent tax return filing please clear these last three findings Reviewer Comment (2020-05-15): Received K1, still missing 2019 YE P&L. Reviewer Comment (2020-05-14): All statements to the 1120S have not been provided. Reviewer Comment (2020-04-20): Client states complete 1120S and K-1 for this entity is in file. However, this documentation has not been included in the file provided for review at this time. Please provide K-1, 1120S, and P&L for Formula 3D Corporation in order to clear. Buyer Comment (2020-04-18): Requesting that stip be revised.  File contains complete 1120S and K-1 for entity (29 pages). Buyer Comment (2020-04-18): Requesting that stip be revised.  File contains complete 1120S and K-1 for entity (64 pages).

05/27/2020

1

A

XXXX

CA

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

431088738

XXXX

XXXX

17888346

201300005712-3831

04/03/2020

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing K-1 Statement and P&L Statement for XXXX.  Only page 1 and 2 of the 1120S was submitted.

Reviewer Comment (2020-05-27): Income is a loss.  Not required on the 1 year program however, program requires current year tax returns.  Per guidelines for 1 Year Flex program.  Application date and Note date are 2020 most recent tax docs are 2018.  Using a 2 year average will create a significantly higher DTI and loan will not qualify. Buyer Comment (2020-05-20): Per the National Underwriting Managers review The 1 year income documentation deals didn’t require  P&Ls.  It qualified on the most recent tax return filing please clear these last three findings Reviewer Comment (2020-05-15): Received K1, still missing 2019 YE P&L. Reviewer Comment (2020-05-14): All statements to the 1120S have not been provided. Reviewer Comment (2020-04-20): Client states complete 1120S and K-1 for this entity is in file. However, this documentation has not been included in the file provided for review at this time. Please provide K-1, 1120S, and P&L for Chimney Rock Holdings. Buyer Comment (2020-04-18): Requesting that stip be revised.  File contains complete 1120S and K-1 for entity (38 pages). Buyer Comment (2020-04-18): Requesting that stip be revised.  File contains complete 1120S and K-1 for entity (64 pages).

05/27/2020

1

A

XXXX

CA

Second Home

Purchase

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

431956922

XXXX

XXXX

19769662

2010053488-6542

01/08/2021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Mortgage Broker Fee.  Fee Amount of $XXXX exceeds tolerance of $0.00.  Insufficient or no cure was provided to the borrower. (73109)

Mortgage broker fee of $XXXX exceeds tolerance of $0.00. No cure was provided to the borrower

Reviewer Comment (2021-01-15): SitusAMC received VCC, exception is cleared. Buyer Comment (2021-01-14): COC uploaded for review. Thanks

01/15/2021

1

A

XXXX

FL

Primary

Purchase

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

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

XXXX

431956922

XXXX

XXXX

19769663

2010053488-6542

01/08/2021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $649.00 exceeds tolerance of $625.00.  Insufficient or no cure was provided to the borrower. (7506)

Appraisal fee amount of $649.00 exceeds tolerance of $625.00. No cure was provided to the borrower

Reviewer Comment (2021-01-15): SitusAMC received VCC, exception is cleared. Buyer Comment (2021-01-14): PCCD, LOX , refund and tracking uploaded.

01/15/2021

1

A

XXXX

FL

Primary

Purchase

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

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

XXXX

431956922

XXXX

XXXX

19769668

2010053488-27760

01/15/2021

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure – 130(b) Cure

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $649.00 exceeds tolerance of $625.00.  Sufficient or excess cure was provided to the borrower. Missing required remediation documentation to complete cure. (7506)

Cure provided.

Reviewer Comment (2021-01-15): SitusAMC received PCCD, LOE, copy of refund check, and proof of mailing.; exception is cured.

01/15/2021

2

B

XXXX

FL

Primary

Purchase

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

XXXX

431997069

XXXX

XXXX

20476224

2011054305-4507

01/19/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Certificate of Good Standing not provided

Reviewer Comment (2021-01-21): Cleared Buyer Comment (2021-01-19): This is not a XXXX requirement or a FNMA Requirement. Please clear.

01/21/2021

1

A

XXXX

PA

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431997069

XXXX

XXXX

20476227

2011054305-28862

01/19/2021

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

Financial Institution: XXXX // Account Type: Checking / Account Number: XXXX

Reviewer Comment (2021-01-25): Opening deposit documented. Buyer Comment (2021-01-22): Please see attached Reviewer Comment (2021-01-20): less than 2 months have been verified.  account was a new account, source of initial deposit has not been documented. Buyer Comment (2021-01-19): See attached

01/25/2021

1

A

XXXX

PA

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431997069

XXXX

XXXX

20476229

2011054305-29187

01/19/2021

Credit

Guideline

Guideline Issue

Guideline

Aged document: Asset Account date is more than 90 days prior to Closing.

Financial Institution: XXXX // Account Type: 401(k)/403(b) Account / Account Number: XXXX

The representative FICO score exceeds the guideline minimum by at least 40 points.

Fico used to waive exception

Owner,Originator

Reviewer Comment (2021-01-29): Fico score used to waive exception. Buyer Comment (2021-01-28): See attached exception. Reviewer Comment (2021-01-25): FNMA documentation requirements state 2 most recent statements, the statements in the file have expired for this account, 1 statement from November 2018 has been provided, still short 2 months most recent statements.  The final 1003 includes this asset. Buyer Comment (2021-01-22): You can match the account # form the Sept 30th statement XXXX. This  account is not needed for assets or reserves. Reviewer Comment (2021-01-20): document provide does not have name, account number or date range.  last account provided was dated 09/30/2020, would need october's statement or november and december's statement. Buyer Comment (2021-01-19): Printout in file is dated 12/22/2020. See attached

01/29/2021

2

B

XXXX

PA

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431997073

XXXX

XXXX

20476230

2011054524-26808

01/19/2021

Credit

Guideline

Guideline Issue

Guideline

A Lender Client Waiver was used to approve the loan.

Allow no current housing history due to borrower is living rent free with parents vs. program restriction borrowers without mortgage or rental housing history including borrwers living rent free are not eligible but will be considered on exception basis.

Borrower's Experience/Track Record Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrower has 5 open mortgages reporting 0x30 since inception.

Originator Pre-Close Owner

Reviewer Comment (2021-01-19): Lender granted exception approval in file.

01/19/2021

2

B

XXXX

PA

Investment

Refinance - Cash-out - Other

B

B

B

B

A

A

No

XXXX

431956910

XXXX

XXXX

20476387

2009051848-2868

01/20/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Purchase Agreement / Sales Contract not provided

Reviewer Comment (2021-01-26): provided Buyer Comment (2021-01-25): Please see attached contract

01/26/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

A

A

Non QM

Non QM

No

XXXX

431956910

XXXX

XXXX

20476389

2009051848-28265

01/20/2021

Credit

Note

General

Note

Loans with an application date after 10/01/2020 using a LIBOR Index are not Agency Salable.

Index: LIBOR - 1 Year (Daily); Note Date: XXXX

Buyer Comment (2021-01-25): XXXX elects to save this exception

01/25/2021

2

B

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

A

A

Non QM

Non QM

No

XXXX

431956910

XXXX

XXXX

20476390

2009051848-28407

01/20/2021

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

APR on subject loan of 5.60950% or Final Disclosure APR of 5.62500% is in excess of allowable threshold of APOR 2.88% + 2.5%, or 5.38000%.  Compliant Higher Priced Mortgage Loan.

Buyer Comment (2021-01-25): XXXX elects to waive this exception.

01/25/2021

2

B

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

A

A

Non QM

Non QM

No

XXXX

431956910

XXXX

XXXX

20476392

2009051848-7038

01/20/2021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing. (Initial/XXXX

Initial CD date issued XXXX is less than 6 days prior to closing and date received is unknown

Reviewer Comment (2021-01-26): SitusAMC received electronic receipt. Buyer Comment (2021-01-25): See attached Timing.  CD does not need to be issued 6 days before closing per CFPB - The creditor is generally required to ensure that the consumer receives the Closing Disclosure no later than three business days before consummation of the loan. (§ 1026.19(f)(1)(ii))

01/26/2021

1

A

XXXX

CA

Primary

Purchase

No Defined Cure

D

B

D

B

C

B

A

A

Non QM

Non QM

No

XXXX

431956910

XXXX

XXXX

20476394

2009051848-2863

01/20/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Pay History not provided

Guidelines state that the borrower's current mortgage, disclosed on the Borrower's credit report, must be supported with cancelled checks, monthly statements, and/or monthly mortgage statements starting with January 2020 through the date of closing including the actual month of closing.  Do not see this documentation in the file.

Reviewer Comment (2021-01-26): cleared Buyer Comment (2021-01-25): See attached

01/26/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

A

A

Non QM

Non QM

No

XXXX

431956910

XXXX

XXXX

20476395

2009051848-3831

01/20/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Compliance Report was not provided in the loan file.

Reviewer Comment (2021-01-27): Received Buyer Comment (2021-01-27): See attached Compliance report Reviewer Comment (2021-01-26): compliance report not provided Buyer Comment (2021-01-25): See attached Compliance report

01/27/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

A

A

Non QM

Non QM

No

XXXX

431956910

XXXX

XXXX

20476396

2009051848-17814

01/20/2021

Credit

Missing Document

General

Missing Document

Incomplete Document: 1003 Final is incomplete

The Final 1003 reflects that the income received from the business belongs 50% to the borrower and 50% to the co-borrower, however documentation in the file reflects that the borrower is 100% owner of the business.

Reviewer Comment (2021-01-29): Cleared Buyer Comment (2021-01-28): Please see attached revised 1003 & 1008 Reviewer Comment (2021-01-27): Guidelines state: (“Final Application”) shall mean the loan application that contains, in all respects, accurate, verified and documented information, which is signed by the Borrowers on the date of the Loan. The information on the application was documented to show that it was not accurate, the co-borrower was not employed and did not have income. Buyer Comment (2021-01-27): This is not material please clear. Buyer Comment (2021-01-27): See attached Reviewer Comment (2021-01-26): Income from business is split 50/50 between both borrowers. Does not match the borrowers title of office manager. Buyer Comment (2021-01-25): How does it show 50/50% on the 1003 ?

01/29/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

A

A

Non QM

Non QM

No

XXXX

432571834

XXXX

XXXX

20476903

2012054930-5383

03/01/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Spousal Consent Form not provided

Reviewer Comment (2021-03-08): Title company verified this is not required for an entity Buyer Comment (2021-03-05): I have never seen this Exception in 4 plus years working with XXXX/AMC. Please show me the guide where this is required. Thanks XXXX! Reviewer Comment (2021-03-03): Member is married in California. Buyer Comment (2021-03-03): What are we getting Spousal consent for? Business is in solely name of our Borrower. XXXX doesn't require Reviewer Comment (2021-03-02): It is required in the state of California Buyer Comment (2021-03-02): Spousal Consent is not required per guides

03/08/2021

1

A

XXXX

CA

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

No

XXXX

432571834

XXXX

XXXX

20476904

2012054930-4507

03/01/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Certificate of Good Standing not provided

Reviewer Comment (2021-03-10): Cleared Buyer Comment (2021-03-09): This condition is cleared on XXXX. Business is operating. Thanks Reviewer Comment (2021-03-08): Cert of good standing is always needed. Buyer Comment (2021-03-05): I have never seen this Exception in 4 plus years working with XXXX/AMC. Please show me the guide where this is required. Thanks XXXX! Reviewer Comment (2021-03-03): Document is not dated Buyer Comment (2021-03-03): Business is operating

03/10/2021

1

A

XXXX

CA

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

No

XXXX

432571834

XXXX

XXXX

20476906

2012054930-4062

03/01/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

Reviewer Comment (2021-03-03): Operating Agreement provided. Buyer Comment (2021-03-02): Spousal Consent is not required per guides Buyer Comment (2021-03-02): LLC Docs

03/03/2021

1

A

XXXX

CA

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

No

XXXX

432571834

XXXX

XXXX

20476907

2012054930-7917

03/01/2021

Credit

Credit

Credit Documentation

Credit

A credit report was not pulled for all members of the borrowing entity as required by guidelines.

Credit report for business entity is not provided.

Reviewer Comment (2021-03-03): Per lender not required. Buyer Comment (2021-03-02): CBR is not required for XXXX

03/03/2021

1

A

XXXX

CA

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

No

XXXX

432571834

XXXX

XXXX

20476911

2012054930-3831

03/01/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Exception to policy:  Allow no current primary housing history due to borrower lives rent free with daughter vs program restriction that borrowers without mortgage or rental housing history including borrowers living rent free are not eligible but will be considered on exception basis.  Lender exception in file.

Seasoned Borrower/Investor whose experience exceeds 10 completed projects. The representative FICO score exceeds the guideline minimum by at least 40 points.

Credit score is 70+ points over program requirement of 700.

Owner Owner,Originator Pre-Close

Reviewer Comment (2021-03-01): Lender granted exception in file.

03/01/2021

2

B

XXXX

CA

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

No

XXXX

432571834

XXXX

XXXX

20476913

2012054930-3831

03/01/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Exception to policy:  Allow 7 additional properties to be financed by XXXX (borrower has 16 financed with XXXX from 2018) vs program restriction that no borrower may be obligated for more than 6 loans that have been sold to  XXXX-approved on XXXX.  Lender exception in file.

Seasoned Borrower/Investor whose experience exceeds 10 completed projects. The representative FICO score exceeds the guideline minimum by at least 40 points.

Credit score is 70+ points over program requirement of 700.

Owner Owner,Originator Pre-Close

Reviewer Comment (2021-03-01): Lender granted exception in file.

03/01/2021

2

B

XXXX

CA

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

No

XXXX

432571855

XXXX

XXXX

20476954

2011054541-28265

03/04/2021

Credit

Note

General

Note

Loans with an application date after 10/01/2020 using a LIBOR Index are not Agency Salable.

Index: LIBOR - 1 Year (Daily); Note Date: XXXX

Buyer Comment (2021-03-04): XXXX has elected to waive this exception.

03/04/2021

2

B

XXXX

HI

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

432571855

XXXX

XXXX

20476955

2011054541-6542

03/04/2021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Mortgage Broker Fee.  Fee Amount of $XXXX exceeds tolerance of $0.00.  Insufficient or no cure was provided to the borrower. (73109)

0% tolerance exceeded by $XXXX due to Mortgage Broker Fee increase. No Valid Changed Circumstance provided, nor was there evidence of a cure in file.

Reviewer Comment (2021-03-08): SitusAMC received 01/08 VCC. Buyer Comment (2021-03-04): COC for review

03/08/2021

1

A

XXXX

HI

Primary

Refinance - Cash-out - Other

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

C

B

C

B

C

A

A

A

Non QM

Non QM

Yes

XXXX

432571855

XXXX

XXXX

20476956

2011054541-3831

03/04/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Provide 2019 and 2018 business tax returns and K-1s for XXXX. 1003 and verifications in file indicate the borrower is the owner of this business. Two years tax returns and K-1s required to determine if business has positive or negative income. Upon receipt of business income documentation, additional conditions may apply.

Reviewer Comment (2021-03-09): Positive income not being used. Buyer Comment (2021-03-08): W-2s for XXXX. Not using Business income returns are not required Reviewer Comment (2021-03-05): Income needs to be reviewed. Buyer Comment (2021-03-04): 1040s verify positive income on Sched E. Not using Business income to qualify. Thanks

03/09/2021

1

A

XXXX

HI

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

432571855

XXXX

XXXX

20476957

2011054541-3831

03/04/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Exception to policy:  Allow 5 months proof of receipt of alimony to support income (payments started September 2020) vs program requirement that bank statements showing six months receipts are provided (Monthly payments will continue for 138 consecutive months from XXXX in amounts based on the gross commissions paid by XXXX and shall not terminate in event of remarriage, cohabitations with another adult or employment outside of XXXX.  Lender granted exception in file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Borrower has worked in the same position for more than 3 years. The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

LTV is 56.104%, 23.896% < program maximum of 80%.

Owner Owner Owner,Originator Pre-Close

Reviewer Comment (2021-03-04): Lender granted exception approval in file.

03/04/2021

2

B

XXXX

HI

Primary

Refinance - Cash-out - Other

C

B

C

B

C

A

A

A

Non QM

Non QM

No

XXXX

432571851

XXXX

XXXX

20476976

2010052558-28640

03/03/2021

Credit

Missing Document

General

Missing Document

Missing Document: Source of Funds/Deposit not provided

Missing copy of XXXX #XXXX check #XXXX that cleared 6/15/2020 verifying that check and initial deposit on Lease Option to Purchase  appearing as "due diligence" credit on Final Closing Disclosure are on and the same.  Borrower entered into Lease Option to Purchase for subject, XXXX, 6/12/2020 (D0104) prior to XXXX application date.

Reviewer Comment (2021-03-05): Received Buyer Comment (2021-03-04): See attached Cancelled EMD check $XXXX

03/05/2021

1

A

XXXX

NC

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

XXXX

432571851

XXXX

XXXX

20476977

2010052558-3831

03/03/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing recent 12 month rating for XXXX #43-90 mortgage loan secured by XXXX  retained prior residence completing recent 12 month housing history and verifying maximum 1 x 30 x 12 with 0 x 30 in the last 6 months from Note date @ XXXX Bank Statement program.

Reviewer Comment (2021-03-05): Received Buyer Comment (2021-03-04): See attached mortgage statements

03/05/2021

1

A

XXXX

NC

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

XXXX

432571851

XXXX

XXXX

20476978

2010052558-6451

03/03/2021

Credit

Credit

Credit Documentation

Credit

Missing Document: Compliance Report (Mavent, ComplianceEase, etc.) not provided

Reviewer Comment (2021-03-05): Received Buyer Comment (2021-03-04): See attached

03/05/2021

1

A

XXXX

NC

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

XXXX

432571851

XXXX

XXXX

20476981

2010052558-22694

03/03/2021

Compliance

Compliance

State Compliance

State HPML

North Carolina Rate Spread Threshold Test Compliant

North Carolina Rate Spread Home Loan: APR on subject loan of 5.71420% or Final Disclosure APR of 5.72300% is in excess of allowable threshold of APOR 2.84% + 2.5%, or 5.34000%.  Compliant Rate Spread Home Loan.

Buyer Comment (2021-03-04): XXXX elects to waive this exception.

03/04/2021

2

B

XXXX

NC

Primary

Purchase

Within 90 days of closing and prior to institution of any action against the lender, (1) notify the borrower, and (2) make appropriate restitution at the option of the borrower to either (a) make the loan comply with prohibited acts and practices or (b) change the terms of the loan in a manner beneficial to the borrower so the loan is no longer rate spread.   (Narrow Defense - Requires CHD Approval) Within 120 days of discovery , which compliance failure was not intentional and resulted from a bona fide error,  creditor must: (1) provide Lender Attestation to AMC attesting the failure was not intentional and was a bona fide error notwithstanding procedures in place to prevent such loans from being made (specific details on how rate spread home loan was made despite procredures to prevent); (2) notify the borrower, and make appropriate restitution at the option of the borrower to either (a) make the loan comply with prohibited acts and practices or (b) change the terms of the loan in a manner beneficial to the borrower so the loan is no longer rate spread.

C

B

C

A

B

B

A

A

Non QM

Non QM

Yes

XXXX

432571851

XXXX

XXXX

20476982

2010052558-3831

03/03/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The most recent bank statement, dated 1/31/2021, does not meet either calculation option for the covid-10 guideline requirement.

Reviewer Comment (2021-03-11): borrower changed bank accounts, we have both statements. Reviewer Comment (2021-03-11): Based on this loan...in order to meet one of the COVID requirements These are the figures looked at.  So one option is for the most recent month statement dated prior to closing, the qualifying deposits $9,553.76 can be used as the overall qualifying income.  So you would take the total debts of $28,054.77 / $9553.76 = 293%, if that % meets the guideline (in this case 50%), the loan meets the COVID requirement.  In this case it does not.  The other option is if the most recent qualifying deposits are within 75% of the total average.  So $68,589.81 *.75 = $51,442.36.  If the January 2021 qualifying deposits were over $51,442.36, the loan meets the COVID requirement.  In this case $9,553.76 does not meet that criteria. Buyer Comment (2021-03-10): Please see attached. LOE for the reduction of deposits and the UW mgr approval for the file not meeting Temp Covid measures. Reviewer Comment (2021-03-05): The deposits for the month of 1/2021 are less than 75% of the average deposits and the DTI using the deposits from that month exceeds maximum limit. Buyer Comment (2021-03-04): Please clarify?

03/11/2021

1

A

XXXX

NC

Primary

Purchase

C

B

C

A

B

B

A

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477528

2011054378-2922

01/19/2021

Credit

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal not provided

Appraisal not provided.

Reviewer Comment (2021-01-21): Appraisal provided. Buyer Comment (2021-01-20): Appraisal uploaded for your review.

01/21/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477529

2011054378-4922

01/19/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: Property is located in a FEMA Disaster area and has not been inspected.

Disaster Name: XXXX Disaster Declaration Date: XXXX Disaster End Date:  XXXX

The subject property is located in a FEMA Disaster area. Provide a post-disaster inspection verifying there was no damage to the subject. The inspection must include exterior photos of the subject.

Reviewer Comment (2021-01-21): Appraisal provided.

01/21/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477531

2011054378-29618

01/19/2021

Credit

Credit

Credit Documentation

Guideline

The Verification of Rent (VOR) / Verification of Mortgage (VOM) is required and was not found in file.

Twelve month mortgage history required by guidelines, however the Credit Supplement in the loan file only reflects 11 months verification.

Reviewer Comment (2021-02-11): Cleared Buyer Comment (2021-02-10): Payment history has 12 month. Buyer Comment (2021-02-10): The credit supplement states 11 months, last active 11/20.  Payment history shows the 2 month, December payment made 12/10. Reviewer Comment (2021-02-10): this is reflecting 11 months. Buyer Comment (2021-02-09): 12 month history uploaded for your review. Reviewer Comment (2021-02-09): This is for the housing history. Buyer Comment (2021-02-08): Rent was not used and back out of DTI.

02/11/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477532

2011054378-27834

01/19/2021

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized.  Appraisal is missing.; Sec ID: 1

Note Date:  XXXX; Lien Position: 1

Appraisal was not provided.

Reviewer Comment (2021-01-21): Appraisal provided. Buyer Comment (2021-01-20): Appraisal uploaded for your review.

01/21/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477533

2011054378-25838

01/19/2021

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Address: XXXX Lease Agreement

Lease agreement missing from file. Unable to use rental income to qualify borrower.

Reviewer Comment (2021-02-09): Income not being used to qualify Buyer Comment (2021-02-08): Rent was not used and backed out of DTI. Revised 1008 uploaded for your  review.

02/09/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477535

2011054378-28407

01/19/2021

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

Safe harbor requirement not satisfied. Income and collateral documentation missing.

Buyer Comment (2021-02-03): XXXX has elected to waive this EV2 Compliance exception.

02/03/2021

2

B

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477536

2011054378-5447

01/19/2021

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Appraisal Not Obtained Timely)

Unable to determine compliance with timely delivery of valuation to borrower due to missing information.

Unable to determine delivery of a copy of the appraisal.

Reviewer Comment (2021-01-21): Appraisal provided.

01/21/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477537

2011054378-3506

01/19/2021

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Appraisal - Did Not Physically Visit)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Appraisal not obtained by physical visit to property.

Appraisal not provided.

Reviewer Comment (2021-01-21): Appraisal provided. Buyer Comment (2021-01-20): Appraisal uploaded for your review.

01/21/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477540

2011054378-4245

01/19/2021

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of 85.00000% exceeds Guideline loan to value percentage of 80.00000%.

Maximum LTV for twelve month bank statement program is 80%. Subject transaction LTV of 85% exceeds allowable.

Borrower has been employed in the same industry for more than 5 years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

reserves used to downgrade exception

Owner Owner,Originator

Reviewer Comment (2021-02-04): comp factors used to downgrade exception Buyer Comment (2021-02-03): Credit exception for 85% LTV uploaded for your review. Reviewer Comment (2021-01-21): The lender qualified the borrower using only 12 months of bank statements.  The matrix dated 11/6/2020, caps the LTV at 80% when 12 months bank statements are used (instead of 24 months) for the A10 loan program. Buyer Comment (2021-01-20): Guideline stating 85% LTV uploaded for your review.

02/04/2021

2

B

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477541

2011054378-4246

01/19/2021

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of 85.00000% exceeds Guideline combined loan to value percentage of 80.00000%.

Maximum CLTV for twelve month bank statement program is 80%. Subject transaction CLTV of 85% exceeds allowable.

Borrower has worked in the same position for more than 3 years. Borrower has been employed in the same industry for more than 5 years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

reserves used to downgrade exception

Owner Owner Owner,Originator

Reviewer Comment (2021-02-04): Lender granted exception approval in file. Buyer Comment (2021-02-03): Credit exception for 85% LTV uploaded for your review. Reviewer Comment (2021-01-21): The lender qualified the borrower using only 12 months of bank statements.  The matrix dated 11/6/2020, caps the LTV at 80% when 12 months bank statements are used (instead of 24 months) for the XXXX loan program. Buyer Comment (2021-01-20): Guideline stating 85% uploaded for your review.

02/04/2021

2

B

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477542

2011054378-6583

01/19/2021

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $535.00 exceeds tolerance of $500.00.  Sufficient or excess cure was provided to the borrower at Closing. (7506)

There was no VCC for the increase in the Appraisal Fee by $35.00, from $500.00 to $535.00. The Final CD did not reflect a cure for excessive fees of $52.95.

Reviewer Comment (2021-01-13): Sufficient Cure Provided At Closing

01/13/2021

1

A

XXXX

CA

Primary

Purchase

Final CD evidences Cure

D

B

D

B

C

B

D

A

Non QM

Non QM

Yes

XXXX

431997070

XXXX

XXXX

20477543

2011054378-6583

01/19/2021

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee.  Fee Amount of $67.95 exceeds tolerance of $50.00.  Sufficient or excess cure was provided to the borrower at Closing. (7520)

There was no VCC for the increase in the Credit Report Fee by $17.95, from $50.00 to $67.95. The Final CD did not reflect a cure for excessive fees of $52.95.

Reviewer Comment (2021-01-13): Sufficient Cure Provided At Closing

01/13/2021

1

A

XXXX

CA

Primary

Purchase

Final CD evidences Cure

D

B

D

B

C

B

D

A

Non QM

Non QM

Yes

XXXX

431997070

XXXX

XXXX

20477544

2011054378-5404

01/19/2021

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

The file did not contain the 12/20 bank statement as temp COVID requires, and total deposits cannot be less than 75% and with applied profit margin must meet DTI requirement.

Borrower has worked in the same position for more than 3 years. Borrower has been employed in the same industry for more than 5 years. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

reserves used to downgrade exception

Owner Owner Owner,Originator

Reviewer Comment (2021-02-04): Lender granted exception approval in file. Buyer Comment (2021-02-03): Credit exception to waive Covid overlay to obtain bank statement used for income for the month proceeding the closing uploaded for your review.

02/04/2021

2

B

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

431997070

XXXX

XXXX

20477545

2011054378-4188

01/19/2021

Compliance

Compliance

Miscellaneous Compliance

Compliance

Other Compliance Exception (Manual Add)

The compliance report was not provided in the loan file.

Reviewer Comment (2021-01-21): Compliance report provided. Buyer Comment (2021-01-20): Compliance report uploaded for your review.

01/21/2021

1

A

XXXX

CA

Primary

Purchase

D

B

D

B

C

B

D

A

Non QM

Non QM

Yes

XXXX

433319734

XXXX

XXXX

21179735

2102059581-4507

05/03/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Certificate of Good Standing not provided

Reviewer Comment (2021-05-07): Business entity verification provided, currently active.

05/07/2021

1

A

XXXX

WA

Investment

Refinance - Rate/Term

D

A

D

A

A

A

No

XXXX

433319734

XXXX

XXXX

21179736

2102059581-5381

05/03/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Employer Identification Number (EIN) not provided

Reviewer Comment (2021-05-07): Provided.

05/07/2021

1

A

XXXX

WA

Investment

Refinance - Rate/Term

D

A

D

A

A

A

No

XXXX

433319734

XXXX

XXXX

21179737

2102059581-17705

05/03/2021

Credit

Credit

Credit Eligibility

Credit

Active Tradeline requirement not met.

Credit Report: Original // Borrower: XXXX. Borrower has 2 Active Tradelines which is less than the minimum required by guidelines.

Reviewer Comment (2021-05-07): VOR/VOM is third tradeline.

05/07/2021

1

A

XXXX

WA

Investment

Refinance - Rate/Term

D

A

D

A

A

A

No

XXXX

433319734

XXXX

XXXX

21179738

2102059581-7904

05/03/2021

Credit

Credit

Credit Eligibility

Credit

Borrower has

Credit Report: Original // Borrower: XXXX 2 open Tradelines which is less than the minimum required by guidelines.

only two active trade lines which based on the lender G.L three is required.

Reviewer Comment (2021-05-07): VOR/VOM is third tradeline. Buyer Comment (2021-05-06): The Credit report has two tradelines B/A, XXXX plus the subject property rating.

05/07/2021

1

A

XXXX

WA

Investment

Refinance - Rate/Term

D

A

D

A

A

A

No

XXXX

433319734

XXXX

XXXX

21179740

2102059581-2827

05/03/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Deeds / Warranty / Grant / Quit-Claim not provided

Reviewer Comment (2021-05-12): Received Buyer Comment (2021-05-11): Recorded Deed Buyer Comment (2021-05-11): Final Title policy Reviewer Comment (2021-05-07): Current vesting on title is not the borrower/business entity name. Buyer Comment (2021-05-06): Please explain, this transaction is a refinance. what deed do you want

05/12/2021

1

A

XXXX

WA

Investment

Refinance - Rate/Term

D

A

D

A

A

A

No

XXXX

433319734

XXXX

XXXX

21179741

2102059581-4062

05/03/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

Missing Company Resolution.

Reviewer Comment (2021-05-07): Provided.

05/07/2021

1

A

XXXX

WA

Investment

Refinance - Rate/Term

D

A

D

A

A

A

No

XXXX

433319734

XXXX

XXXX

21179742

2102059581-18356

05/03/2021

Credit

Credit

Miscellaneous

Credit

Reverification of mortgage is inconsistent with original VOM

Verification of current primary rent and Mortgages as reflected on bank statements in loan file are not supported with Verification of Rent (VOR) and VOM from an institutional third party.

Reviewer Comment (2021-05-07): Payments and LOX provided. Buyer Comment (2021-05-06): Please clarify what institutional 3rd part what is the inconsistency, how is it not supported missing payment verification ?

05/07/2021

1

A

XXXX

WA

Investment

Refinance - Rate/Term

D

A

D

A

A

A

No

XXXX

433150344

XXXX

XXXX

21180094

2102058670-22166

04/13/2021

Property

Property - Appraisal

Appraisal Data Integrity

Property - Appraisal

Appraiser's license or certification was not active at the time of the appraisal.

Valuation Type: Appraisal / Valuation Report Date: XXXX

The appraiser's license appears to have renewed shortly after the loan closing and the prior license information is not available in asc.gov.  Provide evidence appraiser was licensed at the time of the report.

Reviewer Comment (2021-04-15): Received info from Nevada RE Division website validating prior dates of appraiser's license. Buyer Comment (2021-04-14): Appraiser's license uploaded for your review.

04/15/2021

1

A

XXXX

NV

Primary

Purchase

C

B

C

B

B

B

C

A

Non QM

Non QM

No

XXXX

433150344

XXXX

XXXX

21180101

2102058670-3495

04/13/2021

Compliance

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Provided Prior to Date Performed

ECOA Valuations Rule (Dodd-Frank 2014): Date valuation provided to applicant is prior to the date when valuation was performed.  Unable to determine compliance with appraisal timing requirements. (Type:Primary/XXXX)

Date appraisal was provided to the borrower is before valuation was performed. Unable to determine timing requirements

Buyer Comment (2021-04-15): XXXX has elected to waive this EV2 Compliance exception.

04/15/2021

2

B

XXXX

NV

Primary

Purchase

C

B

C

B

B

B

C

A

Non QM

Non QM

No

XXXX

433150344

XXXX

XXXX

21180102

2102058670-3831

04/13/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Loan file does not contain 3rd party verification of the start date of the borrower's business.

The qualifying DTI on the loan is at least 10% less than the guideline maximum. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. The representative FICO score exceeds the guideline minimum by at least 40 points.

lender granted exception

Owner Owner Owner,Originator

Reviewer Comment (2021-04-29): Lender granted exception Buyer Comment (2021-04-28): Exception uploaded for your review. Reviewer Comment (2021-04-21): This has been done after the note date, which is not allowed per XXXXs guidelines. Reviewer Comment (2021-04-20): Received tax preparer letter verifying start date of borrower's business. Buyer Comment (2021-04-19): CPA letter with business dates uploaded for your review

04/29/2021

2

B

XXXX

NV

Primary

Purchase

C

B

C

B

B

B

C

A

Non QM

Non QM

No

XXXX

433367223

XXXX

XXXX

21181778

2102057786-29187

04/12/2021

Credit

Guideline

Guideline Issue

Guideline

Aged document: Asset Account date is more than 90 days prior to Closing.

Financial Institution: XXXX // Account Type: Checking / Account Number: XXXX, Financial Institution: XXXX // Account Type: Savings / Account Number: XXXX

Reviewer Comment (2021-04-19): More recent statement provided.

04/19/2021

1

A

XXXX

NJ

Investment

Refinance - Rate/Term

D

A

D

A

A

A

No

XXXX

433367223

XXXX

XXXX

21181779

2102057786-18356

04/12/2021

Credit

Credit

Miscellaneous

Credit

Reverification of mortgage is inconsistent with original VOM

Missing 3rd party verification of mortgage for subject investment property. Pay history provided however unable to determine if any payments listed were late.

Reviewer Comment (2021-04-14): Cleared. Buyer Comment (2021-04-13): There are no late fees listed on the pay history. You can see that all payments were made before the EOM.

04/14/2021

1

A

XXXX

NJ

Investment

Refinance - Rate/Term

D

A

D

A

A

A

No

XXXX

433367223

XXXX

XXXX

21181780

2102057786-3831

04/12/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Compliance Report not provided.

Reviewer Comment (2021-04-14): Cleared Buyer Comment (2021-04-13): not required on non trid loans

04/14/2021

1

A

XXXX

NJ

Investment

Refinance - Rate/Term

D

A

D

A

A

A

No

XXXX

433367223

XXXX

XXXX

21181781

2102057786-4747

04/12/2021

Credit

Loan Package Documentation

Closing / Title

Missing, Incorrect, or Incomplete HUD-1

Missing Final HUD-1

Missing Final HUD-1 / Closing Statement.

Reviewer Comment (2021-05-05): Cleared

05/05/2021

1

A

XXXX

NJ

Investment

Refinance - Rate/Term

D

A

D

A

A

A

No

XXXX

433319735

XXXX

XXXX

21181789

2103059760-7038

05/05/2021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing. (Initial/XXXX)

Initial Closing Disclosure provided ot borrower on XXXX, not at least 3 business days prior to Closing date of XXXX.

Reviewer Comment (2021-05-16): SitusAMC received XXXX CD. Buyer Comment (2021-05-14): Please clear Buyer Comment (2021-05-11): Please see attached initial CD dated XXXX

05/16/2021

1

A

XXXX

CA

Primary

Refinance - Rate/Term

No Defined Cure

C

B

A

A

C

B

A

A

Non QM

Non QM

No

XXXX

433319735

XXXX

XXXX

21181790

2103059760-6542

05/05/2021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points.  Fee Amount of $5,910.00 exceeds tolerance of $3,025.00.  Insufficient or no cure was provided to the borrower. (7200)

Loan Discount points fee $5910, exceeds tolerance of $3025. No Cure located in file.

Reviewer Comment (2021-05-19): SitusAMC received  VCC, exception is cleared. Buyer Comment (2021-05-17): See attached VCOC Buyer Comment (2021-05-17): See attached XXXX CD Reviewer Comment (2021-05-16): SitusAMC received XXXX COC however a corresponding disclosure is not in file. Additionally the fee also increased XXXX CD without a VCC. Please provide VCCs if available or please provide a corrected CD, LOE, refund check, and proof of mailing to cure. Buyer Comment (2021-05-14): See attached VCOC Reviewer Comment (2021-05-12): SitusAMC Received Rate Lock; however, rate lock does not show the Change date. Discount point fee increased on CD dated XXXX and XXXX. Please provide Valid COC's or provide PCCD, LOE, Refund Check and Proof of Mailing to Cure. Buyer Comment (2021-05-11): See attached lock confirmations in the file. Document the 2 loan amount changes, Loan locked  and rate lock extended.

05/19/2021

1

A

XXXX

CA

Primary

Refinance - Rate/Term

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

C

B

A

A

C

B

A

A

Non QM

Non QM

Yes

XXXX

433319735

XXXX

XXXX

21181791

2103059760-28407

05/05/2021

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

Loan is Non Compliant, higher prived mortgage loan.

Buyer Comment (2021-05-11): XXXX elects to waive this exception.

05/11/2021

2

B

XXXX

CA

Primary

Refinance - Rate/Term

C

B

A

A

C

B

A

A

Non QM

Non QM

No

XXXX

431841836

XXXX

XXXX

21416239

571310-20378

06/01/2018

Credit

Insurance

Insurance Analysis

Insurance

Hazard Insurance Policy expires within 90 days of the Note Date.

Hazard Insurance Policy Expiration Date 01/13/2018, Note Date XXXX

Policy reflects expiration date of 1/13/18; closing date is XXXX; policy should be good through XXXX 60 days after the note date.

Reviewer Comment (2018-06-01): HOI policy on Automatic renewal premium paid at closing in the amount of 1846 makes policy good thru 01/14/2019.

12/15/2017

1

A

XXXX

FL

Primary

Refinance - Rate/Term

D

B

C

A

D

B

A

A

Non QM

Non QM

No

XXXX

431841836

XXXX

XXXX

21416241

571310-6297

06/01/2018

Compliance

Compliance

Federal Compliance

TRID

TRID Esign Consent Agreement Status

ESIGN Act – Loan file does not contain evidence of borrower’s consent to receive electronic disclosures.

Reviewer Comment (2018-06-01): Seller provided the e-consent dated 10/11/2017.

12/15/2017

1

A

XXXX

FL

Primary

Refinance - Rate/Term

No Defined Cure

D

B

C

A

D

B

A

A

Non QM

Non QM

No

XXXX

431841836

XXXX

XXXX

21416243

571310-5340

06/01/2018

Compliance

Compliance

Federal Compliance

Flood

Flood Insurance Escrow - Flood not Escrowed for Property in Flood Zone

Loan originated post December 2015, the subject property  is in a flood zone, flood insurance is not escrowed.

Flood is covered by Master Insurance Policy.

Reviewer Comment (2018-06-01): XXXX has elected to waive this exception.

12/15/2017

2

B

XXXX

FL

Primary

Refinance - Rate/Term

D

B

C

A

D

B

A

A

Non QM

Non QM

No

XXXX

431841836

XXXX

XXXX

21416245

571310-7038

06/01/2018

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing. (Initial/XXXX)

Initial CD dated XXXX is not executed by borrower; calculated received date is XXXX; closing date is XXXX.

Reviewer Comment (2018-06-01): Seller provided the discl tracking e-receipt for the initial CD on XXXX. Reviewer Comment (2018-06-01): No CD tracking provided. Exception remains open.

12/20/2017

1

A

XXXX

FL

Primary

Refinance - Rate/Term

No Defined Cure

D

B

C

A

D

B

A

A

Non QM

Non QM

No

XXXX

431841836

XXXX

XXXX

21416247

571310-4357

06/01/2018

Compliance

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Assumption

TILA-RESPA Integrated Disclosure - Loan Disclosures: Final Closing Disclosure provided on XXXX incorrectly disclosed whether the loan allows for Assumption. (Final/XXXX)

Final CD reflects "Will Allow" assumption; note does not reflect assumption verbiage.

Reviewer Comment (2018-06-01): XXXX has elected to waive this exception.

12/15/2017

2

B

XXXX

FL

Primary

Refinance - Rate/Term

Letter of Explanation & Corrected Closing Disclosure

D

B

C

A

D

B

A

A

Non QM

Non QM

Yes

XXXX

431841836

XXXX

XXXX

21416248

571310-5195

06/01/2018

Compliance

Compliance

Federal Compliance

TRID Defect

TRID - the file contains an illegible TRID disclosure. Testing is incomplete

There is an incomplete CD located on page 230 missing the issued date, payments, terms as well as pages 4 and 5 completed. Please provide an attestation letter stating the borrower not receive a copy of this disclosure.

Reviewer Comment (2018-06-01): Seller provided the attestation letter the borrower dud not received the incomplete CD.

12/15/2017

1

A

XXXX

FL

Primary

Refinance - Rate/Term

Letter of Explanation & Corrected Closing Disclosure

D

B

C

A

D

B

A

A

Non QM

Non QM

Yes

XXXX

431841826

XXXX

XXXX

21417381

571290-2842

06/01/2018

Credit

Loan Package Documentation

Loan File

Missing Document

Missing Document: Hazard Insurance Policy not provided

Reviewer Comment (2018-06-01): Seller provided the HOI policy with an effective date 1/15/2017-11/15/2017.

11/28/2017

1

A

XXXX

FL

Investment

Purchase

C

A

C

A

A

A

No

XXXX

431841830

XXXX

XXXX

21417397

571295-4513

06/01/2018

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

Reviewer Comment (2018-06-01): Seller provided copy of LexisNexis for LLC established 2016. Reviewer Comment (2018-06-01): Requested

12/13/2017

1

A

XXXX

CT

Investment

Refinance - Rate/Term

C

A

C

A

A

A

No

XXXX

431841830

XXXX

XXXX

21417398

571295-5381

06/01/2018

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Employer Identification Number (EIN) not provided

Reviewer Comment (2018-06-01): Per CPA letter LLC does not have a EIN number and is filed under her SSN#. Reviewer Comment (2018-06-01): Requested

12/11/2017

1

A

XXXX

CT

Investment

Refinance - Rate/Term

C

A

C

A

A

A

No

XXXX

431841830

XXXX

XXXX

21417400

571295-7000

06/01/2018

Credit

Property - Appraisal

Property Eligibility - Site and Utilities

Property - Appraisal

Subject property has environmental problems noted by appraiser or visible in the photos

Valuation Type: Appraisal / Valuation Report Date: XXXX

Ongoing Construction as shown on photo of rear of building.

Reviewer Comment (2018-06-01): Seller has provided a 442 with subject rear wall showing as improved with plastic removed dated XXXX. Reviewer Comment (2018-06-01): Seller provided a disaster inspection however photos of subject are of the property located next door which is yellow and brown in color and subject property is white. Exception remains open. Seller Comment (2018-06-01): XXXX 442 ordered Reviewer Comment (2018-06-01): Please provide a 442 completion cert from the appraisal reflecting the rear of the subject property is complete as upper level windows and back porch are under construction as well as appears lower lever door is missing. Exception remains open. Seller Comment (2018-06-01): XXXX Appraisal is marked as-is and seems cosmetic

11/27/2017

1

A

XXXX

CT

Investment

Refinance - Rate/Term

C

A

C

A

A

A

No

XXXX

431841830

XXXX

XXXX

21417402

571295-4507

06/01/2018

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Certificate of Good Standing not provided

Reviewer Comment (2018-06-01): Seller provided a copy of the Lexis Nexis reflecting the LLC is in active status with a formation date of XXXX.

12/13/2017

1

A

XXXX

CT

Investment

Refinance - Rate/Term

C

A

C

A

A

A

No

XXXX

431841830

XXXX

XXXX

21417403

571295-3831

06/01/2018

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing 3 year Prepay Penalty as required per the SPI5 loan program.

Reviewer Comment (2018-06-01): Seller provided the 36 months PP rider and addendum. Seller Comment (2018-06-01): Requested

12/13/2017

1

A

XXXX

CT

Investment

Refinance - Rate/Term

C

A

C

A

A

A

No

XXXX

431842301

XXXX

XXXX

21417386

572517-4060

06/01/2018

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Business Purpose Certificate not provided

Reviewer Comment (2018-06-01): Seller provided the signed business purpose certificate.

09/29/2017

1

A

XXXX

NJ

Investment

Purchase

C

A

C

A

A

A

No

XXXX

431842301

XXXX

XXXX

21417388

572517-3831

06/01/2018

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

LTV is 75% vs program maximum of 70% for a 4-family. Lender acknowledged.

Reviewer Comment (2018-06-01): Received evidence that guidelines allow for LTV up to  80% on loans with loan amount up to $750,000 Exception cleared.

10/10/2017

1

A

XXXX

NJ

Investment

Purchase

C

A

C

A

A

A

No

XXXX

431842301

XXXX

XXXX

21417389

572517-3831

06/01/2018

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Missing final 1008, loan approval and DSC calculator with correct note rate of 7.625%.

Reviewer Comment (2018-06-01): Seller provided a copy of the final 1008, DSC calculator and approval with interest rate of 7.625.

09/29/2017

1

A

XXXX

NJ

Investment

Purchase

C

A

C

A

A

A

No

XXXX

431841958

XXXX

XXXX

21417436

571629-3831

06/01/2018

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender approved exception: Property was listed for sale in the last 3 months (listed for sale on XXXX and taken off market XXXX) vs program requirement that the subject property may not have been listed for sale during the three month period preceding the date of the loan.

DSC 126% > 100% program requirement Self-employed for 5 years.

Reviewer Comment (2018-06-01): XXXX has elected to waive this requirement based on compensating factors.

01/12/2018

2

B

XXXX

FL

Investment

Refinance - Cash-out - Debt Consolidation

C

B

C

B

A

A

No

XXXX

431841957

XXXX

XXXX

21417450

571628-4513

06/01/2018

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Articles of Organization/Formation not provided

Reviewer Comment (2018-06-01): Seller provided Articles of organization for LLC dated XXXX.

01/23/2018

1

A

XXXX

FL

Investment

Refinance - Rate/Term

C

A

C

A

A

A

No

XXXX

431841957

XXXX

XXXX

21417451

571628-4062

06/01/2018

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

Reviewer Comment (2018-06-01): Not required as formation is LLC.

01/23/2018

1

A

XXXX

FL

Investment

Refinance - Rate/Term

C

A

C

A

A

A

No

XXXX

431841957

XXXX

XXXX

21417452

571628-5380

06/01/2018

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Operating Agreement not provided

Reviewer Comment (2018-06-01): Seller provided the operating agreement dated XXXX.

01/23/2018

1

A

XXXX

FL

Investment

Refinance - Rate/Term

C

A

C

A

A

A

No

XXXX

431841957

XXXX

XXXX

21417453

571628-2808

06/01/2018

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Loan submissions forms in file marked as approval. One 1008 in file; however, it reflects incorrect loan amount/terms.

Reviewer Comment (2018-06-01): Seller provided the Loan approval dated XXXX. Reviewer Comment (2018-06-01): Seller provided the 1008. Please provide copy of the final loan approval. Exception remains.

01/24/2018

1

A

XXXX

FL

Investment

Refinance - Rate/Term

C

A

C

A

A

A

No

XXXX

431841957

XXXX

XXXX

21417454

571628-7900

06/01/2018

Credit

Asset

Asset Documentation

Asset

Insufficient funds for Reserves. Guidelines require

$9,704.87, and verified reserves are $5,644.55.

Required reserves for this program are 3 months PITI plus 1% of outstanding investment mortgages. Calculation comes from using the recent HUD1s in file for 2 of the properties, The remaining 5 were taken from the final 1003 as only 2 mortgages appear on the credit report, one of which it the Borrower's primary mortgage. Insufficient reserves may be recalculated upon receipt of mortgage balance clarification documentation.

Reviewer Comment (2018-06-01): Seller provided HUD from refinance of additional owned property with 37,978.49 and $32,624.84 reflected.

01/23/2018

1

A

XXXX

FL

Investment

Refinance - Rate/Term

C

A

C

A

A

A

No

XXXX

431841963

XXXX

XXXX

21417455

571641-3831

06/01/2018

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Guidelines required a copy of the XXXX Calculator # SP 15 - Investor DSC that was not provided.

Reviewer Comment (2018-06-01): Seller provided the DSC income calculator with minimum 100 ratio dated 12/27/2017.

01/24/2018

1

A

XXXX

PA

Investment

Purchase

C

A

C

A

A

A

No

XXXX

431841963

XXXX

XXXX

21417456

571641-4188

06/01/2018

Compliance

Compliance

Miscellaneous Compliance

Compliance

Other Compliance Exception (Manual Add)

Missing 3 year PP Penalty as required for the SPI5 loan program.

Reviewer Comment (2018-06-01): PP Penalty not allowed in State of PA on loan amount < $241,324.

01/24/2018

1

A

XXXX

PA

Investment

Purchase

C

A

C

A

A

A

Yes

XXXX

431841991

XXXX

XXXX

21417476

571703-2905

06/01/2018

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Verification of Identification not provided

Reviewer Comment (2018-06-01): Seller provided the ID drivers license expiration date XXXX.

02/01/2018

1

A

XXXX

NJ

Investment

Purchase

C

A

C

A

A

A

No

XXXX

431841991

XXXX

XXXX

21417482

571703-2919

06/01/2018

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

Missing DSC XXXX calculator as required by guidelines.

Reviewer Comment (2018-06-01): Seller provided DSC dated 1/21/2018 with ratio of 220.845% meets guides.

02/01/2018

1

A

XXXX

NJ

Investment

Purchase

C

A

C

A

A

A

No

XXXX

431841991

XXXX

XXXX

21417484

571703-4506

06/01/2018

Credit

Asset

Asset Documentation

Asset

Missing Document: Asset Documentation not provided

Borrower received two gifts of $6,000 and $5,000 from two different donors. Missing proof of donor's ability to provide the gifts.

Reviewer Comment (2018-06-01): Exception has been cleared with evidence of deposit into borrowers XXXX acct XXXX on 12/18/2017. Reviewer Comment (2018-06-01): Seller provided the gift letters and copies of the cancelled check however missing proof of availability of funds to donate. Exception remains open.

02/01/2018

1

A

XXXX

NJ

Investment

Purchase

C

A

C

A

A

A

No

XXXX

431842349

XXXX

XXXX

21417517

572651-5809

06/01/2018

Credit

Credit

Credit Documentation

Credit

A summary review of all the documentation in the loan file casts doubt on the business purpose of the loan.

Final signed application shows the co-borrower intends to occupy.

Reviewer Comment (2018-06-01): Seller provided corrected 1003 reflecting both borrowers do not intend to occupy the subject property. Reviewer Comment (2018-06-01): Seller provided the business purpose cert. Please provided a corrected 1003 declaration for the co-borrower as they have stated they intend to occupy the premises. Exception remains.

03/13/2018

1

A

XXXX

FL

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431842349

XXXX

XXXX

21417518

572651-3831

06/01/2018

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception in file for use of business funds without a CPA letter for funds to close to and reserves vs program requirement to obtain a statement from a CPA stating that the withdrawal of funds will not have a negative impact on the business.

No public records DSC is 105.597%, 5.597% > program requirement of 100% Reserves are 12 months, 9 months > program requirement of 3 months Credit Score 714, 34 points > program requirement of 680 Borrower self employed for 5.5 years, owner of XXXX

Reviewer Comment (2018-06-01): XXXX has elected to waive this requirement based on compensating factors.

03/08/2018

2

B

XXXX

FL

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431842432

XXXX

XXXX

21417569

572941-2904

06/01/2018

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Guarantor Agreement not provided

Reviewer Comment (2018-06-01): Seller provided the Guarantor agreements signed and dated XXXX for the borrower and co-borrower.

04/16/2018

1

A

XXXX

NJ

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

No

XXXX

431842432

XXXX

XXXX

21417570

572941-23687

06/01/2018

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Flood insurance coverage amount is insufficient.

Flood insurance coverage of $100,000 is insufficient to cover the lessor of the full replacement cost coverage of $XXXX or the max cost coverage available under the NFIP of $250,000.

Reviewer Comment (2018-06-01): Flood insurance only overs lowest floor above ground level being XXXX of living space or 40% of this totaling 70,460 coverage is greater at 100,000. Reviewer Comment (2018-06-01): Estimated replacement cost XXXX, loan amount XXXX, flood coverage 100,000 - per guides full replacement cost coverage for the improvements on the subject is required or the maximum coverage available under the National Flood Insurance administrative program. Insurance coverage is short to cover improvements and National flood maximum amount not provided. Exception remains.

04/19/2018

1

A

XXXX

NJ

Investment

Refinance - Cash-out - Other

D

A

D

A

A

A

No

XXXX

431842433

XXXX

XXXX

21417583

572943-3831

06/01/2018

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Lender approved exception: Bulk  HOI policy instead of an individual policy for each property. Exception for the use of a master policy instead of an individual policy for each property. Additionally, the master policy is only paid monthly.

No public records Mortgage history is 0x30 Self-employed for 30 years DSC 121% Credit score of 721 LTV 65%

Reviewer Comment (2018-06-01): XXXX has elected to waive this requirement based on compensating factors.

04/10/2018

2

B

XXXX

OK

Investment

Refinance - Rate/Term

C

B

C

B

A

A

No

XXXX

431842433

XXXX

XXXX

21417584

572943-7900

06/01/2018

Credit

Asset

Asset Documentation

Asset

Insufficient funds for Reserves. Guidelines require

$8,539.19, and verified reserves are $0.00.

Reviewer Comment (2018-06-01): Cash out loan proceeds of XXXX on subject transaction allowed on loan program SPI5.

04/12/2018

1

A

XXXX

OK

Investment

Refinance - Rate/Term

C

B

C

B

A

A

No

XXXX

431842433

XXXX

XXXX

21417585

572943-17724

06/01/2018

Credit

Asset

Asset Documentation

Asset

Borrower has insufficient or no assets to close.

Reviewer Comment (2018-06-01): Cash out proceed of 111,741.82 from subject transaction allowed on loan program SPI5.

04/12/2018

1

A

XXXX

OK

Investment

Refinance - Rate/Term

C

B

C

B

A

A

No

XXXX

431842434

XXXX

XXXX

21417587

572944-3831

06/01/2018

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Bulk HOI policy instead of an individual policy for each property. Exception for the use of a master policy instead of an individual policy for each property. Additionally, the master policy is only paid monthly. Lender approved.

No public records Experienced investor Subject mortgage history is 0x30 since inception (2/2015) Borrower is a self-employed XXXX for 30 years FICO of 721 > program requirement of 640 DSC of 122% > program requirement of 100% LTV of 65% < program maximum of 75%

Reviewer Comment (2018-06-01): XXXX has elected to waive this requirement based on compensating factors.

04/19/2018

2

B

XXXX

OK

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

No

XXXX

431842434

XXXX

XXXX

21417588

572944-22708

06/01/2018

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy Coverage is less than Original Loan Amount.

The Title Policy Amount of $227,500.00 is less than the note amount of $XXXX based on the title evidence in file.

Reviewer Comment (2018-06-01): Seller provided updated title with coverage of XXXX.

04/23/2018

1

A

XXXX

OK

Investment

Refinance - Cash-out - Other

C

B

C

B

A

A

No

XXXX

432590394

XXXX

XXXX

21430872

2102057790-3831

03/10/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The compliance report was not provided in the loan file.

Reviewer Comment (2021-03-16): Cleared Buyer Comment (2021-03-15): Submitted Final Compliance Report

03/16/2021

1

A

XXXX

FL

Investment

Purchase

C

A

C

A

A

A

No

XXXX

431956920

XXXX

XXXX

21430885

2010053391-22769

01/27/2021

Credit

Missing Document

General

Missing Document

Missing Document: Lease Agreement not provided

Reviewer Comment (2021-02-09): Cleared Buyer Comment (2021-02-08): This is a purchase there does not need to be an inplace lease

02/09/2021

1

A

XXXX

CA

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431956920

XXXX

XXXX

21430886

2010053391-4064

01/27/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Assignment of Leases/Rents not provided

Reviewer Comment (2021-02-09): Assignment of rents is in the file, it is also the 1-4 family rider. Buyer Comment (2021-02-08): This is a purchase there does not need to be an inplace lease, per the contract all tenants must vacate with in 5 days

02/09/2021

1

A

XXXX

CA

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431956920

XXXX

XXXX

21430887

2010053391-5802

01/27/2021

Credit

Credit

Credit Documentation

Credit

There is no lease in place for the subject property and the absence of this document casts doubt on business purpose of loan.

Reviewer Comment (2021-02-09): cleared Buyer Comment (2021-02-08): There is an approved exception for the borrower living rent free and also owns another investment property

02/09/2021

1

A

XXXX

CA

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431956920

XXXX

XXXX

21430888

2010053391-23396

01/27/2021

Credit

Title

Document Error

Title

There is no dollar amount noted on the title policy.

Reviewer Comment (2021-02-10): Cleared Buyer Comment (2021-02-09): see Proposed insured

02/10/2021

1

A

XXXX

CA

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431956920

XXXX

XXXX

21430890

2010053391-28266

01/27/2021

Credit

Security Instrument

Document Error

Security Instrument

The Security Instrument ARM Rider does not contain fallback language.

Index: LIBOR - 1 Year (Daily)

Reviewer Comment (2021-02-10): This does not apply to DSCR loans Buyer Comment (2021-02-09): Please provide the guideline requiring verbiage

02/10/2021

1

A

XXXX

CA

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431956920

XXXX

XXXX

21430892

2010053391-7894

01/27/2021

Credit

Investment Product

General Exception

Investment Product

Security Instrument Error: Assignment of Leases/Rents is not in the file and required by guidelines

Document: Assignment of Leases/Rents

Reviewer Comment (2021-02-09): Assignments of rent is in file, it is also the 1-4 family rider. Buyer Comment (2021-02-09): Please provide guideline you are citing

02/09/2021

1

A

XXXX

CA

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431956920

XXXX

XXXX

21430893

2010053391-2919

01/27/2021

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Other not provided

No current housing history due to borrower is living rent free with his parents vs program restriction borrowers without mortgage or rental housing history including borrowers living rent free are not eligible, but will be considered on exception basis.  Lender granted exception approval in file.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. The representative FICO score exceeds the guideline minimum by at least 40 points.

Credit score is 737, 57 points > program requirement of 680.

Owner Owner,Originator Pre-Close

Reviewer Comment (2021-01-25): Lender granted exception approval in file.

01/25/2021

2

B

XXXX

CA

Investment

Purchase

C

B

C

B

A

A

No

XXXX

431956920

XXXX

XXXX

21430894

2010053391-3831

01/27/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The ability to repay disclosure is not provided in the loan file.

Reviewer Comment (2021-02-09): Cleared Buyer Comment (2021-02-08): This is not required on business purpose loans

02/09/2021

1

A

XXXX

CA

Investment

Purchase

C

B

C

B

A

A

No

XXXX

432590393

XXXX

XXXX

21431317

2101057081-890

03/15/2021

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Questionable Occupancy: Valuation occupancy differs from occupancy on loan approval.

Loan documents reflect subject property as an investment however the appraisal reflects subject as owner occupied.

Reviewer Comment (2021-04-14): Clear Buyer Comment (2021-04-13): Uploaded appraisal

04/14/2021

1

A

XXXX

FL

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

No

XXXX

432590384

XXXX

XXXX

21431318

2010052710-22708

03/09/2021

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

Title Policy Coverage is less than Original Loan Amount.

The Title Policy Amount of $272,300.00 is less than the note amount of $XXXX based on the title evidence in file.

Reviewer Comment (2021-03-18): Cleared - Updated Title Commitment provided.

03/18/2021

1

A

XXXX

GA

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

No

XXXX

432590384

XXXX

XXXX

21431320

2010052710-4062

03/09/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Corporate Resolution not provided

Reviewer Comment (2021-03-15): cleared

03/15/2021

1

A

XXXX

GA

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

No

XXXX

432590384

XXXX

XXXX

21431321

2010052710-7917

03/09/2021

Credit

Credit

Credit Documentation

Credit

A credit report was not pulled for all members of the borrowing entity as required by guidelines.

Credit Report for business entity not provided.

Reviewer Comment (2021-03-18): Cleared Buyer Comment (2021-03-17): Not required

03/18/2021

1

A

XXXX

GA

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

No

XXXX

432590384

XXXX

XXXX

21431322

2010052710-3831

03/09/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Verification of Mortgage from 3rd party not provided for subject property. File contains cancelled checks and bank statements.

Reviewer Comment (2021-03-15): Cleared Buyer Comment (2021-03-12): 12 months cancelled checks can be used in Lieu of a VOM

03/15/2021

1

A

XXXX

GA

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

No

XXXX

432590384

XXXX

XXXX

21431323

2010052710-3831

03/09/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The compliance report was not provided in the loan file.

Reviewer Comment (2021-03-15): Provided

03/15/2021

1

A

XXXX

GA

Investment

Refinance - Cash-out - Other

C

A

C

A

A

A

No

XXXX

433150350

XXXX

XXXX

21431330

2102059024-28265

04/06/2021

Credit

Note

General

Note

Loans with an application date after 10/01/2020 using a LIBOR Index are not Agency Salable.

Index: LIBOR - 1 Year (Daily); Note Date: XXXX

Buyer Comment (2021-04-09): replacement index and margin verbiage are included on the Note, section 4/H. Please waive. Buyer Comment (2021-04-09): see attached with replacement index and margin explanation - this verbiage is in the body of the Note, paragraph 4, section H

04/09/2021

2

B

XXXX

CA

Primary

Refinance - Rate/Term

C

B

C

B

A

A

A

A

Non QM

Non QM

No

XXXX

433150350

XXXX

XXXX

21431331

2102059024-3831

04/06/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Loan size requires 2 full appraisals plus either a CDA or an ARR.  The file did not contain a second full appraisal.

Reviewer Comment (2021-04-08): Cleared Buyer Comment (2021-04-07): APPRAISAL 2 ADDED Buyer Comment (2021-04-07): APPRAISAL 1 ADDED Buyer Comment (2021-04-07): Please note that the note does contain the replacement verbiage in the event that libor goes away.  See Note, section 4(h) Replacement Index and Replacement Margin which details what happens if the index or margin are deemed no longer available.

04/08/2021

1

A

XXXX

CA

Primary

Refinance - Rate/Term

C

B

C

B

A

A

A

A

Non QM

Non QM

No

XXXX

433150350

XXXX

XXXX

21431332

2102059024-6583

04/06/2021

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Second Appraisal Fee.  Fee Amount of $645.00 exceeds tolerance of $0.00.  Sufficient or excess cure was provided to the borrower at Closing. (7507)

Reviewer Comment (2021-04-06): Sufficient Cure Provided At Closing

04/06/2021

1

A

XXXX

CA

Primary

Refinance - Rate/Term

Final CD evidences Cure

C

B

C

B

A

A

A

A

Non QM

Non QM

Yes

XXXX

432590385

XXXX

XXXX

21431355

2010053253-23383

03/10/2021

Credit

Insurance

Insurance Analysis

Insurance

Insurance address does not match Note address.

Insurance XXXX does not match the Note address XXXX

Reviewer Comment (2021-04-15): updated docs provided Buyer Comment (2021-04-15): Uploaded corrected Note & DOT Reviewer Comment (2021-03-12): Do not see email from title co. Condition stands. Buyer Comment (2021-03-11): Email to Title to resolve issue with the city name. Also called XXXX.

04/15/2021

1

A

XXXX

AZ

Second Home

Refinance - Rate/Term

C

A

C

A

A

A

A

A

Non QM

Non QM

No

XXXX

432590385

XXXX

XXXX

21431356

2010053253-23387

03/10/2021

Credit

System

General

Flood

Flood Certificate Subject Address does not match Note address.

Insurance XXXX does not match the Note address XXXX

Reviewer Comment (2021-04-15): updated docs provided Buyer Comment (2021-04-15): Uploaded corrected Note & DOT Reviewer Comment (2021-03-12): Do not see email from title co. Condition stands.

04/15/2021

1

A

XXXX

AZ

Second Home

Refinance - Rate/Term

C

A

C

A

A

A

A

A

Non QM

Non QM

No

XXXX

432590385

XXXX

XXXX

21431357

2010053253-29618

03/10/2021

Credit

Credit

Credit Documentation

Guideline

The Verification of Rent (VOR) / Verification of Mortgage (VOM) is required and was not found in file.

Housing pay history for primary residence not provided

Reviewer Comment (2021-03-12): Documentation provided. Condition cleared. Buyer Comment (2021-03-11): Provided VOM and receipts for December & January payments.

03/12/2021

1

A

XXXX

AZ

Second Home

Refinance - Rate/Term

C

A

C

A

A

A

A

A

Non QM

Non QM

No

XXXX

432590385

XXXX

XXXX

21431358

2010053253-23385

03/10/2021

Credit

System

General

Appraisal Reconciliation

Valuation address does not match Note address.

Valuation Type: Appraisal / Valuation Report Date: XXXX, Valuation Type: Desk Review / Valuation Report Date: XXXX

Valuation XXXX does not match the Note address XXXX

Reviewer Comment (2021-04-15): updated docs provided Buyer Comment (2021-04-15): Uploaded corrected Note & DOT Reviewer Comment (2021-03-12): once provided condition will be cleared Buyer Comment (2021-03-12): Ordered re-draw to correct city name on Note & mortgage.

04/15/2021

1

A

XXXX

AZ

Second Home

Refinance - Rate/Term

C

A

C

A

A

A

A

A

Non QM

Non QM

No

XXXX

432590385

XXXX

XXXX

21431360

2010053253-28862

03/10/2021

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

Financial Institution: XXXX // Account Type: Checking / Account Number: XXXX

Assets accounts require a minimum of  months statements. Account XXXX only contained 1 statement for review.

Reviewer Comment (2021-03-12): Cleared Buyer Comment (2021-03-11): Provided additional documents for asset verification.

03/12/2021

1

A

XXXX

AZ

Second Home

Refinance - Rate/Term

C

A

C

A

A

A

A

A

Non QM

Non QM

No

XXXX

432590385

XXXX

XXXX

21431361

2010053253-6583

03/10/2021

Compliance

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TILA-RESPA Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee.  Fee Amount of $1,349.00 exceeds tolerance of $695.00.  Sufficient or excess cure was provided to the borrower at Closing. (7506)

Reviewer Comment (2021-03-09): Sufficient Cure Provided At Closing

03/09/2021

1

A

XXXX

AZ

Second Home

Refinance - Rate/Term

Final CD evidences Cure

C

A

C

A

A

A

A

A

Non QM

Non QM

Yes

XXXX

432590396

XXXX

XXXX

21431404

2102057907-25838

03/08/2021

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

Address: XXXX HOA Verification

Missing HOA Verification for XXXX

Reviewer Comment (2021-03-09): evidence of HOA dues provided. Buyer Comment (2021-03-09): see HOA dues

03/09/2021

1

A

XXXX

CA

Primary

Purchase

D

B

C

B

D

B

A

A

Non QM

Non QM

No

XXXX

432590396

XXXX

XXXX

21431405

2102057907-3829

03/08/2021

Compliance

Loan Package Documentation

Loan File

Incomplete File

(Missing Doc) Incomplete loan images/file

Grant Deed from XXXX and XXXX, husband and wife, as joint tenants to XXXX, a single man is not signed and notarized

Reviewer Comment (2021-03-09): Grant Deed provided. Signed and dated. Condition cleared. Buyer Comment (2021-03-09): see grant deed

03/09/2021

1

A

XXXX

CA

Primary

Purchase

D

B

C

B

D

B

A

A

Non QM

Non QM

No

XXXX

432590396

XXXX

XXXX

21431406

2102057907-26263

03/08/2021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Escrowed Property Costs Year 1 -  October 2018 Test

TILA-RESPA Integrated Disclosure - Loan Disclosures: Amount of Escrowed Property Costs over Year 1 of 22,973.94 on Final Closing Disclosure provided on XXXX not accurate. (Final/XXXX)

Disclosed $250.00 monthly per month Homeowner’s Insurance is based on a estimated $3,000.00 Homeowner’s Insurance Premium.   Actual monthly amount $106.25 based on a $1,275.00 Homeowner’s Insurance Premium documented in file.

Reviewer Comment (2021-03-16): SitusAMC received a corrected CD and LOE. Reviewer Comment (2021-03-12): SItusAMC is using the premium $1282 however the discrepancy is on page 4 escrowed property costs over 1 year amount as it indicates $22973.94. The monthly escrow costs are $1945.37/mo. The acceptable amounts are 10,11, or 12 months. Please provide verification if using an updated amount.  Letter of Explanation and Corrected CD required to cure. Buyer Comment (2021-03-09): See HOI premium reflecting annual $1282 or $106.83 per month. Confirm AMC concurs

03/16/2021

2

B

XXXX

CA

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

D

B

C

B

D

B

A

A

Non QM

Non QM

Yes

XXXX

432590396

XXXX

XXXX

21431417

2102057907-767

03/08/2021

Credit

Credit

Credit Eligibility

Guideline

Public Record Issue:

Credit Report: Original // Public Record Type: Collections / Balance: XXXX

Missing proof $XXXX $XXXX XXXX collection account is paid and released prior to closing.   Lender excluded payment/balance from total debt obligation in addition to XXXX account payment/balance.   XXXX  is not a 30 day account.

The qualifying DTI on the loan is at least 10% less than the guideline maximum.

DTI < 50%

Owner,Originator

Reviewer Comment (2021-03-29): Approved lender exception collection not being paid off. Buyer Comment (2021-03-26): see approved exception Reviewer Comment (2021-03-12): The Satisfaction of Judgement is required to clear this.  Condition remains open. Buyer Comment (2021-03-12): See confirmation payment of $50,000 paid from borrowers account and state attorney attestation of settlement Reviewer Comment (2021-03-09): O9 rating is a collection, or bad debt rating. See example of XXXX "O9" - states Collection. Account in good standing is rated a "1" account, like the XXXX - "O1" or XXXX - "R1". Buyer Comment (2021-03-09): See the credit report reflecting 001 x with a XXXX which denotes the account as a 30 day account, XXXX which is also a 30 day account reflects in the same manner. Per guidelines 30 day accounts can be excluded from the DTI, The account does not reflect as a collection or charge off as cited by AMC

03/29/2021

2

B

XXXX

CA

Primary

Purchase

D

B

C

B

D

B

A

A

Non QM

Non QM

No

XXXX

432590396

XXXX

XXXX

21431421

2102057907-28265

03/08/2021

Credit

Note

General

Note

Loans with an application date after 10/01/2020 using a LIBOR Index are not Agency Salable.

Index: LIBOR - 1 Year (Daily); Note Date: XXXX

Buyer Comment (2021-03-09): XXXX has elected to waive this exception

03/09/2021

2

B

XXXX

CA

Primary

Purchase

D

B

C

B

D

B

A

A

Non QM

Non QM

No

XXXX

432590396

XXXX

XXXX

21431424

2102057907-22154

03/08/2021

Credit

Insurance

Insurance Analysis

Insurance

The Hazard Insurance Policy effective date is after the Transaction Date.

Hazard Insurance Policy Effective Date 03/01/2021, Transaction Date:  XXXX

Hazard insurance policy effective date 3/1/2021 is after XXXX disbursement date

Reviewer Comment (2021-03-11): Received updated dec page reflecting an effective date of 2/26/21. Buyer Comment (2021-03-10): see revised HOI

03/11/2021

1

A

XXXX

CA

Primary

Purchase

D

B

C

B

D

B

A

A

Non QM

Non QM

No

XXXX

432590396

XXXX

XXXX

21431426

2102057907-23688

03/08/2021

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

$528,000.00 dwelling coverage < $XXXX minimum coverage required.    Evidence of Guaranteed Replacement Cost coverage is not documented in file.   Replacement cost estimator used by XXXX is not in file.

Reviewer Comment (2021-03-12): Received a Replacement Cost Estimator - coverage is sufficient. Buyer Comment (2021-03-11): See RCE Reviewer Comment (2021-03-09): If Coverage A is based upon the replacement cost as described in the policy, please provide a copy of the policy so the actual "description" is known (appraised value, actual cash value, stated value, guaranteed replacement value, etc.), as determined by the policy. Buyer Comment (2021-03-09): Per guidelines the insurance carrier determines the property replacement cost- See bottom of page two on HOI provided with initial file submission under NOTES, reflects Coverage A is based on replacement cost - as a result according to the insurance carrier the property is insured for replacement cost to rebuild, nothing additional is required

03/12/2021

1

A

XXXX

CA

Primary

Purchase

D

B

C

B

D

B

A

A

Non QM

Non QM

No

XXXX

432590396

XXXX

XXXX

21431427

2102057907-3831

03/08/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

The most recent bank statement, dated 1/31/2021, does not meet either calculation option for the covid-19 guideline requirement.

Reviewer Comment (2021-03-10): Cleared Buyer Comment (2021-03-09): XXXX account XXXX was used for income. See XXXX 9638 for January reflecting deposits of $914,695.

03/10/2021

1

A

XXXX

CA

Primary

Purchase

D

B

C

B

D

B

A

A

Non QM

Non QM

No

XXXX

432590396

XXXX

XXXX

21431430

2102057907-7115

04/13/2021

Compliance

Compliance

Federal Compliance

RESPA

RESPA -  Initial Escrow Account statement Inaccurate

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

Buyer Comment (2021-04-13): XXXX has elected to waive this exception

04/13/2021

2

B

XXXX

CA

Primary

Purchase

D

B

C

B

D

B

A

A

Non QM

Non QM

Yes

XXXX

432571841

XXXX

XXXX

21431408

2012056017-4961

03/01/2021

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Reviewer Comment (2021-03-30): Received Buyer Comment (2021-03-29): Payment history uploaded and present in file. Reviewer Comment (2021-03-17): provide 12 months cancelled checks to support the VOR. Buyer Comment (2021-03-16): Uploaded VOR. Thanks

03/30/2021

1

A

XXXX

NC

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

XXXX

432571841

XXXX

XXXX

21431414

2012056017-22694

03/01/2021

Compliance

Compliance

State Compliance

State HPML

North Carolina Rate Spread Threshold Test Compliant

North Carolina Rate Spread Home Loan: APR on subject loan of 5.41570% or Final Disclosure APR of 5.46400% is in excess of allowable threshold of APOR 2.84% + 1.5%, or 4.34000%.  Compliant Rate Spread Home Loan.

Reviewer Comment (2021-03-03): Lender has elected to waive. Buyer Comment (2021-03-02): XXXX elects to waive this exception

03/03/2021

2

B

XXXX

NC

Primary

Purchase

Within 90 days of closing and prior to institution of any action against the lender, (1) notify the borrower, and (2) make appropriate restitution at the option of the borrower to either (a) make the loan comply with prohibited acts and practices or (b) change the terms of the loan in a manner beneficial to the borrower so the loan is no longer rate spread.   (Narrow Defense - Requires CHD Approval) Within 120 days of discovery , which compliance failure was not intentional and resulted from a bona fide error,  creditor must: (1) provide Lender Attestation to AMC attesting the failure was not intentional and was a bona fide error notwithstanding procedures in place to prevent such loans from being made (specific details on how rate spread home loan was made despite procredures to prevent); (2) notify the borrower, and make appropriate restitution at the option of the borrower to either (a) make the loan comply with prohibited acts and practices or (b) change the terms of the loan in a manner beneficial to the borrower so the loan is no longer rate spread.

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

XXXX

432571841

XXXX

XXXX

21431415

2012056017-26263

03/01/2021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Escrowed Property Costs Year 1 -  October 2018 Test

TILA-RESPA Integrated Disclosure - Loan Disclosures: Amount of Escrowed Property Costs over Year 1 of 3,367.07 on Final Closing Disclosure provided on XXXX not accurate. (Final/XXXX)

Documented taxes are $XXXX/mo and insurance is $91.58/mo for a total of $XXXX/mo or $XXXX annually.

Reviewer Comment (2021-03-19): SitusAMC received a corrected CD and LOE. Buyer Comment (2021-03-17): Tracking uploaded Buyer Comment (2021-03-16): Documents uploaded.

03/19/2021

2

B

XXXX

NC

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

XXXX

432571841

XXXX

XXXX

21431418

2012056017-24188

03/01/2021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Non Escrowed Property Costs Year 1

TILA-RESPA Integrated Disclosure - Loan Disclosures: Amount of Non-Escrowed Property Costs over Year 1 of 1,265.00 on Final Closing Disclosure provided on XXXX not accurate. (Final/XXXX)

The appraisal indicates the HOA dues are only $460 annually, not $1,265.

Reviewer Comment (2021-03-19): SitusAMC received a corrected CD and LOE. Buyer Comment (2021-03-17): Tracking uploaded. Buyer Comment (2021-03-16): Documents uploaded. Thanks

03/19/2021

2

B

XXXX

NC

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

XXXX

432571841

XXXX

XXXX

21431420

2012056017-5366

03/01/2021

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Calculated investor qualifying total debt ratio of 77.12625% exceeds Guideline total debt ratio of 50.00000%.

There were multiple large deposits over the 24 months of statements that were not addressed in any way and as such, they were removed from the qualifying income average.  Additionally, the Bank Statement Analysis document indicates the product submitted is for a 12 month analysis, but 24 months statements were provided.

Reviewer Comment (2021-03-31): Added back deposits that were not related to transfers.

03/31/2021

1

A

XXXX

NC

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

XXXX

432571841

XXXX

XXXX

21431423

2012056017-25029

03/01/2021

Compliance

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Match - ATR Risk

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

Reviewer Comment (2021-03-31): Added back deposits that were not related to transfers. Buyer Comment (2021-03-31): this is a Non QM Loan

03/31/2021

1

A

XXXX

NC

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

XXXX

432571841

XXXX

XXXX

21431425

2012056017-5695

03/01/2021

Compliance

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

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

Due to the DTI issue, the loan is considered to be at ATR Risk.

Reviewer Comment (2021-03-31): Added back deposits that were not related to transfers.

03/31/2021

1

A

XXXX

NC

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

XXXX

432571841

XXXX

XXXX

21431431

2012056017-28265

03/01/2021

Credit

Note

General

Note

Loans with an application date after 10/01/2020 using a LIBOR Index are not Agency Salable.

Index: LIBOR - 1 Year (Daily); Note Date: XXXX

Reviewer Comment (2021-03-03): Client has elected to waive. Buyer Comment (2021-03-02): XXXX elects to waive this exception

03/03/2021

2

B

XXXX

NC

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

XXXX

432571841

XXXX

XXXX

21431433

2012056017-25035

03/01/2021

Compliance

Compliance

Federal Compliance

ATR/QM Defect

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

Ability to Repay (Dodd-Frank 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 77.12625% significantly exceeds the guideline maximum of 50.00%. (DTI Exception requires compelling compensating factors to consider regrading to EV2-B.)

The 24 months of statements used to qualify contain multiple large deposits and none of them have been addressed.  As such, they were removed from the qualifying average.

Reviewer Comment (2021-03-31): Added back deposits that were not related to transfers.

03/31/2021

1

A

XXXX

NC

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

XXXX

432571841

XXXX

XXXX

21431435

2012056017-4245

03/01/2021

Credit

Borrower and Mortgage Eligibility

Mortgage / Program Eligibility

Borrower and Mortgage Eligibility

Guideline Requirement: Loan to value discrepancy.

Calculated loan to value percentage of 85.00000% exceeds Guideline loan to value percentage of 80.00000%.

When 12 months bank statements are used to qualify, the LTV/CLTV is capped at 80%.

Reviewer Comment (2021-03-30): Loan is a 24 month statement loan, the most recent 12 months is being utilized for calculations as worse case per guidelines. Buyer Comment (2021-03-29): 24 months were used see calculator

03/30/2021

1

A

XXXX

NC

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

XXXX

432571841

XXXX

XXXX

21431437

2012056017-4246

03/01/2021

Credit

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Combined loan to value discrepancy.

Calculated combined loan to value percentage of 85.00000% exceeds Guideline combined loan to value percentage of 80.00000%.

When 12 months bank statements are used to qualify, the LTV/CLTV is capped at 80%.

Reviewer Comment (2021-03-30): Loan is a 24 month statement loan, the most recent 12 months is being utilized for calculations as worse case per guidelines. Buyer Comment (2021-03-29): 24 months were used see calculator.

03/30/2021

1

A

XXXX

NC

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431451

2012054981-2922

03/02/2021

Credit

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal not provided

Reviewer Comment (2021-03-04): Received appraisal Buyer Comment (2021-03-03): Appraisal uploaded for your review.

03/04/2021

1

A

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431453

2012054981-3831

03/02/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

Blanket Policy does not list Lender it's successors and assigns and Borrower's full property address including unit number.

Reviewer Comment (2021-03-09): Cleared Buyer Comment (2021-03-08): Revised blanket policy uploaded for your review.

03/09/2021

1

A

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431454

2012054981-5404

03/02/2021

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Borrower: XXXX P&L Statement

Missing YTD P&L documenting 1/1/2020 to 12/31/2020 XXXX 1099 earnings to support income used to qualify using 1099 calculation method under A10 - Bank Statement 1099 program

The representative FICO score exceeds the guideline minimum by at least 40 points. Borrower has been employed in the same industry for more than 5 years. The qualifying DTI on the loan is at least 10% less than the guideline maximum.

Comp factor used to waive exception

Owner Owner Owner,Originator

Reviewer Comment (2021-03-22): comp factors used to waive exception Buyer Comment (2021-03-19): Exception uploaded. Reviewer Comment (2021-03-18): Did not receive lender exception Buyer Comment (2021-03-17): Exception to allow agent commission payout schedule to support 1009 income uploaded for your review. Reviewer Comment (2021-03-11): It does not necessarily have to be a P/L but guidelines require the file to contain the borrower's most recent compensation statements or similar documents to verify earnings over 30 calendar days including year to date earnings.  This is still missing for 2020. Condition remains open. Buyer Comment (2021-03-10): The Underwriter used an average of 2019 1099 $296,827.95x90% = $267,145.15/12= $22,262.09, support by 2020 earnings thru 11/19/2020. Therefore no YTD P&L  covering 1/2020-12/2020.

03/22/2021

2

B

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431455

2012054981-4961

03/02/2021

Credit

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided

Missing recent 12 months cancelled checks or bank statements for $975.00 interest only payments paid to XXXX.  XXXX purchased XXXX secures $XXXX held by private party XXXX.  Purchase Money Mortgage (D0274) documents $975.00 IO payments beginning 3/1/2020 until 2/21/2021 balloon payment due date.  Payoff statement documents interest due from 2/1/2021 to 2/26/2021.

Reviewer Comment (2021-03-04): Received the cancelled checks - no issues noted. Buyer Comment (2021-03-03): Cancelled checks uploaded for your review

03/04/2021

1

A

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431456

2012054981-4922

03/02/2021

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

FEMA Disaster Issue: Property is located in a FEMA Disaster area and has not been inspected.

Disaster Name: XXXX Disaster Declaration Date: XXXX Disaster End Date:  XXXX

Reviewer Comment (2021-03-04): Received appraisal which was completed post-disaster Buyer Comment (2021-03-03): Appraisal uploaded for your review.

03/04/2021

1

A

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431457

2012054981-27834

03/02/2021

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Loan is to be securitized.  Appraisal is missing.; Sec ID: 1

Note Date:  XXXX; Lien Position: 1

Reviewer Comment (2021-03-04): Received appraisal Buyer Comment (2021-03-03): Appraisal uploaded for your review.

03/04/2021

1

A

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431458

2012054981-6446

03/02/2021

Compliance

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal Higher-Priced Mortgage Loan: APR on subject loan of 5.41130% or Final Disclosure APR of 5.42100% is in excess of allowable threshold of APOR 2.78% + 1.5%, or 4.28000%.  Non-Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2021-03-04): Received appraisal

03/04/2021

1

A

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431459

2012054981-5447

03/02/2021

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Appraisal Not Obtained Timely)

Unable to determine compliance with timely delivery of valuation to borrower due to missing information.

Missing Appraisal Report

Reviewer Comment (2021-03-04): Received appraisal Buyer Comment (2021-03-03): Appraisal uploaded for your review.

03/04/2021

1

A

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431460

2012054981-3506

03/02/2021

Compliance

Compliance

Federal Compliance

Federal HPML

(Fed HPML Provision) Federal Higher-Priced Mortgage Loan (Appraisal - Did Not Physically Visit)

TILA HPML Appraisal Rule (Dodd-Frank 2014): Appraisal not obtained by physical visit to property.

Missing Appraisal Report

Reviewer Comment (2021-03-04): Received appraisal Buyer Comment (2021-03-03): Appraisal uploaded for your review.

03/04/2021

1

A

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431461

2012054981-22638

03/02/2021

Compliance

Compliance

State Compliance

State HPML

Maryland HPML Threshold Test Non-Compliant

Maryland Higher-Priced Mortgage Loan: APR on subject loan of 5.41130% or Final Disclosure APR of 5.42100% is in excess of allowable threshold of APOR 2.78% + 1.5%, or 4.28000%.  Non-Compliant Higher Priced Loan.

Buyer Comment (2021-03-08): XXXX has elected to waive this EV2 Compliance exception.

03/08/2021

2

B

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431462

2012054981-28407

03/02/2021

Compliance

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor Test

TILA HPML appraisal Rule (Dodd-Frank 2014): Safe Harbor requirements not satisfied.

Missing Appraisal Report

Reviewer Comment (2021-03-04): Received appraisal. Buyer Comment (2021-03-03): Appraisal uploaded for your review.

03/04/2021

1

A

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431463

2012054981-1871

03/02/2021

Compliance

Compliance

State Compliance

State HPML

(State HPML Disclosure) Maryland Higher-Priced Mortgage Loan (Disclosure of Non-HPML Loans Borrower Qualifies For Not Provided)

Maryland Higher-Priced Mortgage Loan:  Borrower not provided with written disclosure of non-higher priced loans otherwise qualified for.

Buyer Comment (2021-03-08): XXXX has elected to waive this EV2 Compliance exception.

03/08/2021

2

B

XXXX

MD

Primary

Refinance - Rate/Term

Lender attestation indicating that (1) the borrower did not qualify for any non-higher-priced loans or (2) the lender does not offer non-higher-priced loans.

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431464

2012054981-4180

03/02/2021

Compliance

Compliance

State Compliance

Misc. State Level

Maryland Mortgage Lending Regulations (Tangible Net Benefit Worksheet Not Provided)

Maryland Mortgage Lending Regulations: Net Tangible Benefit Worksheet not provided to borrower.

Buyer Comment (2021-03-08): XXXX has elected to waive this EV2 Compliance exception.

03/08/2021

2

B

XXXX

MD

Primary

Refinance - Rate/Term

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571837

XXXX

XXXX

21431467

2012054981-7038

03/02/2021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TILA-RESPA Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) business days prior to closing. (Final/XXXX)

All the CD's in file were issued on same day as Closing date.

Reviewer Comment (2021-03-15): SitusAMC received 02/11 CD. Buyer Comment (2021-03-11): 2/11 Closing Disclosure and tracking receipt uploaded for your review. Reviewer Comment (2021-03-05): Please provide receipt for CD (and CD if not in file) if the initial CD was received by borrowers 3 business days prior to consummation for review. Buyer Comment (2021-03-03): CD tracking uploaded for your review.

03/15/2021

1

A

XXXX

MD

Primary

Refinance - Rate/Term

No Defined Cure

D

B

D

B

C

B

D

A

Non QM

Non QM

No

XXXX

432571839

XXXX

XXXX

21431529

2012055887-6451

02/25/2021

Credit

Credit

Credit Documentation

Credit

Missing Document: Compliance Report (Mavent, ComplianceEase, etc.) not provided

Compliance Report not provided

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%. The qualifying DTI on the loan is at least 10% less than the guideline maximum. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Owner Owner Owner Owner

Reviewer Comment (2021-03-15): Comp Factors for regrade with Lender Exception . Reviewer Comment (2021-03-01): Received Buyer Comment (2021-02-26): MAVENT ADDED FOR YOUR REVIEW

03/01/2021

1

A

XXXX

CA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

XXXX

432571839

XXXX

XXXX

21431531

2012055887-28265

02/25/2021

Credit

Note

General

Note

Loans with an application date after 10/01/2020 using a LIBOR Index are not Agency Salable.

Index: LIBOR - 1 Year (Daily); Note Date: XXXX

Loans with an application date after 10/01/2020 using LIBOR index are not Agency Salable

Buyer Comment (2021-03-08): this finding will need to be waived based on the information in the Note that there is a process for replacement index when LIBOR is no longer used. Reviewer Comment (2021-03-01): Exception cannot be cleared. Buyer Comment (2021-02-26): please review replacement index and margin data on the note, this allows for measures when libor goes away.

03/08/2021

2

B

XXXX

CA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No

XXXX

432571839

XXXX

XXXX

21431534

2012055887-6331

02/25/2021

Compliance

Compliance

Federal Compliance

TRID Defect

TRID Lender Credit Tolerance Violation

TILA-RESPA Integrated Disclosure: Zero Percent Tolerance exceeded for Lender Credits. Final Lender Credit of $0.00  is less than amount of binding Lender Credit previously disclosed in the amount of $-2,240.00. (9300)

Final Lender credit of $0.00 is less than the previously stated amount of $-2,240.

Reviewer Comment (2021-03-25): SitusAMC received copy of Refund check, proof of mailing,  Detailed Letter of Explanation & Corrected Closing Disclosure Buyer Comment (2021-03-19): pccd/loe/cure and shipment label for your review Reviewer Comment (2021-03-19): A PCCD, LOE, copy of refund check and proof of mailing required to cure. Buyer Comment (2021-03-16): can this be cured with a refund to the borrower? Reviewer Comment (2021-03-12): SitusAMC received XXXX COC indicating FICO score changed however the credit report in file is dated 01/06 over 3 business days prior to disclosure. Please provide VCC if available or please provide a corrected CD, LOE, refund check, and proof of mailing to cure. Buyer Comment (2021-03-09): coc form added for your review, borrower fico changed

03/25/2021

2

B

XXXX

CA

Primary

Purchase

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

C

B

C

B

C

B

A

A

Non QM

Non QM

Yes

XXXX

432571839

XXXX

XXXX

21431535

2012055887-3831

02/25/2021

Credit

Credit

Miscellaneous

Guideline

Credit Exception:

12 month rental history not provided as required by guides.

The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%. The qualifying DTI on the loan is at least 10% less than the guideline maximum. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Owner Owner Owner Owner

Reviewer Comment (2021-03-15): Lender Exception provided with Comp Factors. Reviewer Comment (2021-03-15): Comp Factors for regrade for Lender Exception. Buyer Comment (2021-03-12): See credit exception Reviewer Comment (2021-03-01): There is a gap between the mortgage last reported 02/2020 and first canceled check beginning 05/2020. Buyer Comment (2021-03-01): borrowers 12 months housing has been verified, borrower rented for 8 months, prior to that housing was a mortgage, see credit report for mortgage with XXXX reflecting zero balance.  LOE with UW notes added to finding for your review.

03/15/2021

2

B

XXXX

CA

Primary

Purchase

C

B

C

B

C

B

A

A

Non QM

Non QM

No