EX-99.12 13 ex99-12.htm AMC EXCEPTION GRADES

Exhibit 99.12

Exception Grades

Run Date - 12/1/2021 8:11:58 AM

AMC 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

215949002

[REDACTED]

23047261

Credit

Missing Document

General

Missing Document

Missing Document: Borrower Ability to Repay Attestation not provided

Attestation not provided

Reviewer Comment (2021-06-23): Doc provided. Condition Clear.

06/23/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047262

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Sufficient assets for closing not documented in file.

Reviewer Comment (2021-06-10): Cleared

Buyer Comment (2021-06-08): Please note the attached Statement printout as of[REDACTED]]howing the balance as of[REDACTED][REDACTED]. Please note the transaction history on the [REDACTED] Bank statement starting on[REDACTED]withdrawals matching the printout. Please note the deposits and withdrawals on the [REDACTED] statement subsequent to the printout dates resulting in a balance of [REDACTED] on the day of closing AFTER the funds to close were withdrawn. Attached is a analysis of the bank account for easy reference showing the running balance totals up through the day of closing to document sufficient reserves and funds to close.

Reviewer Comment (2021-06-07): how are you arriving at the balance listed below? The bank statements do not list a daily balance, and using the [REDACTED] statement still leaves you short closing.

Buyer Comment (2021-06-04): Please also note that the EMD of $[REDACTED] cleared the [REDACTED] account on[REDACTED]

Buyer Comment (2021-06-04): Final CD funds to close from borrower were [REDACTED]. Final Settlement statement confirms this amount. Per the attached [REDACTED] Bank statement the balance in the [REDACTED] account on the day of closing[REDACTED]]as $[REDACTED]. Subtracting the funds to close of [REDACTED] results in remaining funds of [REDACTED] available for reserves. Reserve requirement was 6 months PITIA = [REDACTED] therefore the borrower had more than sufficient funds to close on the da of closing in the [REDACTED] account and had sufficient reserves post closing to meet the reserve requirement of 6 months PITI.

06/10/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047263

Property

Property - Appraisal

Appraisal Documentation

Property - Appraisal

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

AVM not provided

Reviewer Comment (2021-07-08): [REDACTED] provided. Clear.

07/08/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047264

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Matc[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Non QM designation

Reviewer Comment (2021-08-04): Cleared

Buyer Comment (2021-07-26): This loan was switch to J10. The transcripts are not required. Please clear

Reviewer Comment (2021-07-26): This is a waterfall exception for the DTI and [REDACTED] tax transcripts, which cannot be waived based on the lender exception.

Reviewer Comment (2021-06-23): Excessive DTI.

08/04/2021

Primary

Purchase

Lender to provide updated ATR/QM status

Non QM

215949002

[REDACTED]

23047265

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision [REDACTED] Test

Abili[REDACTED]epay (Do[REDACTED]k 2014): Unable to verify current [REDACTED] status using reasonably reliable thi[REDACTED]y records.

Third party verification not provided for Sch C [REDACTED]

Reviewer Comment (2021-08-04): Cleared

Buyer Comment (2021-07-26): This loan was switch to J10. The transcripts are not required. Please clear

Reviewer Comment (2021-07-26): Compliance exceptions cannot be waived by lender exception to not provide the [REDACTED] tax transcripts.

Buyer Comment (2021-07-19): Please see uploaded exception

Reviewer Comment (2021-07-02): [REDACTED] transcripts are still required.

Buyer Comment (2021-06-28): What does the DTI issue have to do with this exception? Please explain what is required to clear this exception.

Reviewer Comment (2021-06-23): Uploaded document received. DTI issue requires the exception to remain.

Buyer Comment (2021-06-21): Please see uploaded doc

Reviewer Comment (2021-06-07): 1099s can not be used as third party verification.

Buyer Comment (2021-06-04): Please see attached 1099s for both [REDACTED] and [REDACTED] from [REDACTED]. Borrower works as [REDACTED] and is paid via non employee compensation on 1099. Please note that the amounts of total income showing on [REDACTED] match the 1099 exactly so there is no separate [REDACTED] it is simply the borrower claiming their 1099 income from [REDACTED].

08/04/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047266

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Asset[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Unable to verify assets using reasonably reliable thi[REDACTED]y records.

exception set for assets short to close

Reviewer Comment (2021-07-02): Sufficient assets verified.

Buyer Comment (2021-06-28): Please revisit this again and pay close attention to the running balance in the borrower's bank account in the Month of [REDACTED].  Please look at the full [REDACTED] statement provided.  It is very clear that if you look at where the balance was on[REDACTED]]fter the borrower already sent all funds to title for closing the resulting balance on[REDACTED]]as more than the required reserves.   If he had more money in the account on the day of closing and after closing after all fudns to close where paid then the reserve requirement was met.  I took the time to break down the bank statement very clearly. Please look at the balance where it was on[REDACTED]taking the beginning balance and adding the deposits and subtracting the withdrawals and you will se that there were sufficient funds in the account to meet both funds to close and reserves on the day of closing and the day after closing.

Running balance breakdown from [REDACTED] Statement starting on[REDACTED]                                                                        Resulting Balance
Deposit[REDACTED]
Deposit[REDACTED]
Debit[REDACTED]
Debit[REDACTED]
Debit[REDACTED]
Debit[REDACTED]
Debit[REDACTED]
Debit[REDACTED]

Debit[REDACTED]
Debit[REDACTED]                     [REDACTED]      Day after closing after ALL funds required were already sent to title.   That meets the reserve requirement.

Balance as the day after closing on[REDACTED]as $[REDACTED]
This balance meets the reserve requirements for funds available post closing AND the funds to close are accounted foreign withdrawn from the account on the day prior to closing.
Borrower had sufficient funds to close AND for 6 months reserves

Reviewer Comment (2021-06-23): Reserves of $[REDACTED] + $[REDACTED] (cash to close) = $[REDACTED] required. Borrower has $[REDACTED]. Short $[REDACTED]. The EMD is not considered because it has already been counted on the final CD, line pg 3 L(01), which results in the Cash to Close at the bottom of the Summaries of Transactions Table, pg 3.

Reviewer Comment (2021-06-10): using the [REDACTED] we are short reserves still

Buyer Comment (2021-06-08): Please note the attached Statement printout as of[REDACTED]]howing the balance as of[REDACTED][REDACTED].  Please note the transaction history on the [REDACTED] Bank statement starting on[REDACTED]withdrawals matching the printout.  Please note the deposits and withdrawals on the [REDACTED] statement subsequent to the printout dates resulting in a balance of [REDACTED] on the day of closing AFTER the funds to close were withdrawn.  Attached is a analysis of the bank account for easy reference showing the running balance totals up through the day of closing to document sufficient reserves and funds to close.

Reviewer Comment (2021-06-07): please see my response under the same exception.

Buyer Comment (2021-06-04): Borrower was not short of funds to close. Please see documentation submitted under the exception for Available for closing insufficient.  Balance in the [REDACTED] account as of[REDACTED]the [REDACTED] Bank statement was [REDACTED] minus the funds to close of [REDACTED] = [REDACTED] funds available for reserves on the day of closing after subtracting the funds to close.  The borrower had sufficient funds to close AND for reserves in the [REDACTED] account on the day of closing.

07/02/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047270

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Non Escrowed Property Costs Year 1

TI[REDACTED]A Integrated Disclosur[REDACTED]n Disclosures: Final Closing Disclosure provided on [REDACTE[REDACTED] did not disclouse Amount of N[REDACTED]owed Property Costs over Year 1

HOA dues not disclosed as n[REDACTED]owed property costs.

Reviewer Comment (2021-07-13): [REDACTED] received PCCD and LOE; exception is cured.

07/13/2021

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

215949002

[REDACTED]

23047271

Compliance

Federal Compliance

ATR/QM Defect

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

Ability to Repay (Do[REDACTED]k 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 52.25894% moderately exceeds the guideline maximum of [REDACTED]. (DTI Exception is eligible to be regraded with compensating factors.)

HOA payment of $[REDACTED] not included in loan approvals qualifying calculation.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $[REDACTED].

Borrower has worked in the same position for more than [REDACTED].

Owner

Owner

Reviewer Comment (2021-08-04): Comp factors used to waive exception

Reviewer Comment (2021-08-04): Lender exception in the file

Reviewer Comment (2021-08-04): reopen

Reviewer Comment (2021-06-23): included in excessive DTI.

08/04/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047272

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Abili[REDACTED]epay (Do[REDACTED]k 2014): General Abili[REDACTED]epay requirements not satisfied.

HOA payment of $[REDACTED] not included in loan approvals qualifying calculation, DTI increased.

Reviewer Comment (2021-08-04): Cleared

08/04/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047273

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

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

HOA monthly payment of $[REDACTED] not included in DTI calculation.

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

Compensating factor considered to waive exception.

Owner,Originator

Reviewer Comment (2021-07-26): Lender granted exception approval in file.

Buyer Comment (2021-07-19): Please see uploaded exception

Reviewer Comment (2021-07-02): Income and debts are now reconciled, DTI is [REDACTED], which exceeds the maximum allowed of [REDACTED].

Buyer Comment (2021-06-28): Your DTI is showing over [REDACTED] now when the condition above clearly says [REDACTED] which is what we were using. Why is the DTI showing higher now and why was the 1099 [REDACTED] income removed in your system?

Buyer Comment (2021-06-28): Why is the income from the borrower's [REDACTED] not being considered? It was previously showing and the DTI was [REDACTED] and now you are not including that income. Please advise why the income was removed as the borrower has received it for over [REDACTED].

07/26/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047274

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Exception set for insufficient assets to close, Insufficient assets for reserve also.

Reviewer Comment (2021-07-02): Clarification on asset verification provided.

Buyer Comment (2021-06-28): Please see the comments and breakdown as well as the documentation uploaded under the other exception above that details the reserves and funds available to close. That should clear this exception as well.

Reviewer Comment (2021-06-23): Reserves of $[REDACTED] + $[REDACTED] (cash to close) = $[REDACTED] required. Borrower has $[REDACTED]. Short $[REDACTED]. The EMD is not considered because it has already been counted on the final CD, line pg 3 L(01), which results in the Cash to Close at the bottom of the Summaries of Transactions Table, pg 3.

Buyer Comment (2021-06-21): Please again look at the breakdown I have provided to show what the balance was in the account on the day of closing.  If you look at the transactions starting at beginning of [REDACTED] and subtract the withdrawals and add the deposits you will not that the balance in the account on[REDACTED]]as sufficient to cover the funds to close and the reserves and that the balance in the account on the day after closing was [REDACTED] which is more than is necessary for the reserves.  Thank you.

Reviewer Comment (2021-06-10): using the [REDACTED] we are short reserves still

Buyer Comment (2021-06-08): Please note the attached Statement printout as of[REDACTED]]howing the balance as of[REDACTED]]eing [REDACTED].  Please note the transaction history on the [REDACTED] Bank statement starting on[REDACTED]]ith withdrawals matching the printout.  Please note the deposits and withdrawals on the [REDACTED] statement subsequent to the printout dates resulting in a balance of [REDACTED] on the day of closing AFTER the funds to close were withdrawn.  Attached is a analysis of the bank account for easy reference showing the running balance totals up through the day of closing to document sufficient reserves and funds to close.

Reviewer Comment (2021-06-07): See commentary under the other exception.

Buyer Comment (2021-06-04): Borrower had sufficient reserves post closing o the day of closing[REDACTED]]Please note that per the [REDACTED] Bank statement in file the balance in the [REDACTED] account as of[REDACTED]]as [REDACTED] prior to the funds to close being wired to title.  The remaining balance after subtracting the funds to close per final CD of [REDACTED] were [REDACTED].   Reserve requirement of 6 months PITIA = [REDACTED]   Borrower has [REDACTED] on[REDACTED]]fter the funds to close were wired therefore the reserve requirements were met.

07/02/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047275

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Do[REDACTED]k 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

DTI is greater than lenders calculation

Reviewer Comment (2021-07-26): Lender granted exception approval provided.

Buyer Comment (2021-07-19): Please see uploaded exception

07/26/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047276

Property

Appraisal Reconciliation

Value Discrepancy

Appraisal Reconciliation

Loan is missing secondary valuation product required for securitization.

Reviewer Comment (2021-07-08): [REDACTED] provided. Clear.

07/08/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047277

Credit

Credit Documentation

Guideline

The Verification of Rent (VOR[REDACTED]erification of Mortgage (VOM) is required and was not found in file.

Missing VOR or lender exception.

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

Compensating factor considered to waive exception.

Owner,Originator

Reviewer Comment (2021-07-26): Lender granted exception approval in file.

Buyer Comment (2021-07-19): Please see uploaded exception

07/26/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047278

Credit

Insurance

Insurance Documentation

Insurance

Missing Document: Mortgage Insurance Certificate (MIC) not provided

The CD lists Mortgage Insurance for years[REDACTED]

Reviewer Comment (2021-06-07): this has been removed, but ahs resulted in Trid exceptions

Buyer Comment (2021-06-04): There is no mortgage insurance. This is a J10 and mortgage insurance is not required.

06/07/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047279

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

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

Compensating factor considered to waive exception.

Owner,Originator

Reviewer Comment (2021-07-26): Lender granted exception approval in file.

Buyer Comment (2021-07-19): Please see uploaded exception

Reviewer Comment (2021-06-23): Third Party verification provided, not Transcripts.

Buyer Comment (2021-06-21): Please see uploaded doc

Reviewer Comment (2021-06-07): 1099s can not be sued as third party verification.

Buyer Comment (2021-06-04): Borrower's [REDACTED] is simply where the borrower claims the 1099 income from his [REDACTED] work with [REDACTED] as evidenced by the 1099s attached for [REDACTED] and [REDACTED]. Please note that the amounts showing as total income on [REDACTED] consulting match exactly to the amount on the 1099 thus there is no separate [REDACTED], simply the way the borrower accounts for the 1099 income that receives and account for his expenses. Please also note the deposits on the bank statements Direct Deposit in [REDACTED], [REDACTED], and [REDACTED] from [REDACTED] proving that the borrower continued to be employed as a [REDACTED] and receive income from [REDACTED] which is the [REDACTED] income.

07/26/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047280

Credit

Missing Document

General

Missing Document

Missing Document: Source of Fun[REDACTED]posit not provided

Reviewer Comment (2021-06-07): Cleared

Buyer Comment (2021-06-04): What source of fund[REDACTED]eposit is this in reference to?

06/07/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047281

Credit

Guideline

Guideline Issue

Guideline

Borrower has been on current job less than [REDACTED]s, and prior employment history was not documented as required.

The borrower's prior employment or gap of employment is not listed on the loan application or documented in the file. It lists current W2 employment and then [REDACTED] from [REDACTE[REDACTED[REDACTED]DACTE[REDACTED]. No explanation or documentation for [REDACTED] through hire date of current employer. Borrower is currently employed W2 for 1 month without the prior [REDACTED] history documented.

Reviewer Comment (2021-06-07): cleared

Buyer Comment (2021-06-04): Final 1003 is uploaded for reference. Borrower works 1099 for [REDACTED] via [REDACTED] and also W2 with [REDACTED]. Same field same line of work, [REDACTED] Aquired [REDACTED] and borrower woks as [REDACTED] for [REDACTED] via 1099 shown on [REDACTED] and also earns a W2 income from [REDACTED]. There is no Gap in employment. Thank you,

06/07/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047282

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Mortgage Insurance Payment

TI[REDACTED]A Integrated Disclosur[REDACTED]jected Payments: Final Closing Disclosure provided on [REDACTE[REDACTED] disclosed a mortgage insurance payment for payment stream 1 that does not match the actual payment for the loan.

Mi removed

Reviewer Comment (2021-07-13): [REDACTED] received PCCD and LOE; exception is cured.

07/13/2021

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

Non QM

215949002

[REDACTED]

23047283

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Projected P&I Min Payment Fixed Rate Subsequent Payments

TI[REDACTED]A Integrated Disclosur[REDACTED]jected Payments: Final Closing Disclosure provided on [REDACTE[REDACTED] disclosed a periodic principal and interest payment for payment stream 2 that does not match the actual payment for the loan.

Mi removed

Reviewer Comment (2021-07-13): [REDACTED] received PCCD and LOE; exception is cured.

07/13/2021

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

Non QM

215949002

[REDACTED]

23047284

Compliance

Federal Compliance

ATR/QM Defect

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

Ability to Repay (Do[REDACTED]k 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 60.02285% significantly exceeds the guideline maximum of [REDACTED]. (DTI Exception requires compelling compensating factors to consider regrading to E[REDACTED])

With the borrower not having a [REDACTED] history of holding 2 jobs, the impact on the [REDACTED] income is unknown and cannot be used.

Reviewer Comment (2021-07-02): Clarification provided addressing consulting and current employment with no gap.

07/02/2021

Primary

Purchase

Non QM

215949002

[REDACTED]

23047285

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Matc[REDACTED] Risk

Ability to Repay (Do[REDACTED]k 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Reviewer Comment (2021-08-04): Cleared

08/04/2021

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

Non QM

215949584

[REDACTED]

23047334

Credit

Title

Document Error

Title

There is no dollar amount noted on the title policy.

Final Title provided in incomplete. Final Title does not reflect the day that the title policy was issued for the Date of Policy, field is blank.

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

Buyer Comment (2021-07-02): Uploaded Title docs.

07/07/2021

Investment

Purchase

215949584

[REDACTED]

23047335

Credit

Missing Document

General

Missing Document

Missing Document: Lease Agreement not provided

Appraisal reflects units 1 and 2 are currently rented. Lease agreements not provided.

Reviewer Comment (2021-08-05): Purchase agreement is not subject to [REDACTED]. 1007 is in appraisal, meets guidelines.

Buyer Comment (2021-07-30): Our guidelines state that we only need leases when the property is being sold subject to [REDACTED]. The purchase agreement does not state subject to.

08/05/2021

Investment

Purchase

215949584

[REDACTED]

23047336

Credit

Miscellaneous

Guideline

Credit Exception:

Compliance report not provided.

Reviewer Comment (2021-05-25): Cleared

Buyer Comment (2021-05-24): [REDACTED] uploaded.

05/25/2021

Investment

Purchase

215949584

[REDACTED]

23047337

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

1003 Error: O[REDACTED]nt was not provided

Final 1003 for B1 does not reflect current property owned in Section 3A.

Reviewer Comment (2021-08-23): cleared

Buyer Comment (2021-08-13): 1003 uploaded.

Reviewer Comment (2021-08-03): Received final 1003 which is not signed and dated. Provide Final 1003 signed and dated. Condition Remains.

Buyer Comment (2021-08-02): 3a for B2 [REDACTED] has been updated.

Reviewer Comment (2021-06-07): ignored

Buyer Comment (2021-06-03): Please ignore previous comment looking at wrong loan

Buyer Comment (2021-06-03): Tax bill uploaded does not show B2 listed on property. Therefore section 3a should not be filled in for B2 for this property.

Reviewer Comment (2021-05-25): Final 1003 for B2 does not reflect property owned in Sec 3A. for [REDACTED]. Condition remains open.

Buyer Comment (2021-05-24): [REDACTED] is listed on section 3a.

08/23/2021

Investment

Purchase

216127598

[REDACTED]

23236291

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

The Lender's Approval was not provided in file, only the submission form.

Reviewer Comment (2019-03-01): Seller provided the lenders approval dated [REDACTED]

09/12/2018

Primary

Purchase

Non QM

216127598

[REDACTED]

23236292

Credit

Credit Eligibility

Guideline

Public Record Issue:

Credit Report: Origina[REDACTED]Public Record Type: Char[REDACTED]: [REDACTED], Credit Report: Origina[REDACTED]Public Record Type: Char[REDACTED]: [REDACTED]

Borrower has 2 [REDACTED] accounts with [REDACTED] ([REDACTED] installment loans in the aggregate amount of $[REDACTED]) with dates last active on credit in [REDACTED]. Borrower is unable to obtain any documentation nor settle the accounts as [REDACTED] is currently involved in a [REDACTED] and will not be able to provide any such documentation nor can they negotiate with anyone. Exception is to not require proof that [REDACTED] account [REDACTED] $[REDACTED] and account #[REDACTED] $[REDACTED] are paid or released. Lender approved exception in file.

No public records.

Borrower is a XXXXXX for the past [REDACTED].

Reserves are [REDACTED] months, [REDACTED] months > program requirement of 3 months.

Credit score is [REDACTED], 34 points > program requirement of [REDACTED].

Reviewer Comment (2019-03-01): [REDACTED] has elected to waive this exception based on compensating factors.

08/22/2018

Primary

Purchase

Non QM

216127598

[REDACTED]

23236293

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Selle[REDACTED]al Closing Costs Exceeds Limits

TI[REDACTED]A Integrated Disclosur[REDACTED]culating Cash to Close: Final Closing Disclosure provided on [REDACTED] disclosed an inaccurate value of the dollar amount by which the Total Closing Costs exceeded the legal limit. ([REDACTED])

Cure for various 0% tolerance violations $750 was not provided.

Buyer Comment (2019-03-01): EV2 Compliance

09/06/2018

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127598

[REDACTED]

23236294

Compliance

Federal Compliance

TRID Defect

TRID Lender Credit Tolerance Violation

TI[REDACTED]A Integrated Disclosure: Zero Percent Tolerance exceeded for Lender Credits. Final Lender Credit of[REDACTED]00 is less than amount of binding Lender Credit previously disclosed in the amount of[REDACTED]0.00. (9300)

Lender Credit disclosed as $1500 on the CD dated [REDACTED]; but disclosed as $750 on the Final Closing Disclosure.

Reviewer Comment (2019-03-01): Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD provided.

Buyer Comment (2019-03-01): LOX, refund check and tracking info for cure delivery provided. Please clear [REDACTED] (delivery scheduled for [REDACTED] )

Reviewer Comment (2019-03-01): Seller provided a PCCD, missing the LOX, refund check and proof of delivery. Exception remains.

Buyer Comment (2019-03-01): PC CD provided.

09/17/2018

Primary

Purchase

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

Non QM

216127598

[REDACTED]

23236295

Compliance

Federal Compliance

TRID

TRID Seller Closing Disclosure

TI[REDACTED]A Integrated Disclosure: Seller Closing Disclosure not located in the file. ([REDACTED])

The Seller CD was not provided in file.

Buyer Comment (2019-03-01): EV2 Compliance

09/06/2018

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127598

[REDACTED]

23236296

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 6.86900% or Final Disclosure APR of 6.96400% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 6.06000%. Compliant Higher Priced Mortgage Loan.

Disclosure reflects APR as[REDACTED]; calculated is[REDACTED]; threshold is[REDACTED].

Reviewer Comment (2019-03-01): [REDACTED] mortgage purchases HPML compliant loans.

08/22/2018

Primary

Purchase

Non QM

216127598

[REDACTED]

23236297

Compliance

State Compliance

State HPML

(State HPML Disclosure) New York Subprime Loan (Counseling Disclosure Not Provided)

[REDACTED] Subprime Loan: Counseling Disclosure not provided to borrower.

Copy of disclosure not provided in file.

Reviewer Comment (2019-03-01): Seller provided the [REDACTED] disclosure dated [REDACTED]

09/05/2018

Primary

Purchase

No obvious cure

Non QM

216127598

[REDACTED]

23236298

Compliance

State Compliance

State HPML

[REDACTED] Subprime Home Loan Threshold Fixed N[REDACTED]liant

[REDACTED] Subprime Loan: APR on subject loan of 6.86900% or Final Disclosure APR of 6.96400% is in excess of allowable threshold of Prime Mortgage Market Rate 4.53000 +[REDACTED], or 6.28000%. N[REDACTED]liant SubPrime Loan.

Disclosure reflects APR as[REDACTED]; calculated is[REDACTED]; threshold is[REDACTED].

Reviewer Comment (2019-03-01): Seller provided the [REDACTED] disclosure dated [REDACTED]

09/13/2018

Primary

Purchase

While considered narrow in its defense, the cure provisions under the NY Subprime law allows lenders, when acting in good faith, to make appropriate restitution to the borrower to satisfy the subprime home loan requirements and remove the loan from subprime status. Cure may be made through refund if (1) there is bona fide evidence of good faith (i.e, lender has controls and policies in place to avoid making subprime loans); and (2) the borrower has not yet brought any action against lender. There is no time limit for which such restitution must be made.

Non QM

216127598

[REDACTED]

23236299

Credit

Income / Employment

Income Documentation

Income / Employment

The verbal verification of employment was obtained more than 10 days prior to the note date.

Letter from the employer was provided in file indicating the Borrower had accepted a [REDACTED] position and was estimated to start on [REDACTED] or sooner. Verification of starting not provided; closing date is [REDACTED].

Reviewer Comment (2019-03-01): Seller provided the VVOE dated [REDACTED]

09/13/2018

Primary

Purchase

Non QM

216127598

[REDACTED]

23236300

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Borrower: [REDACTED]

There is no evidence in file that a verification of employment was obtained from the Borrower's previous employer to confirm employment dates.

Reviewer Comment (2019-03-01): Seller provided the VVOE dated [REDACTED]

09/13/2018

Primary

Purchase

Non QM

216127598

[REDACTED]

23236301

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Loan Underwriting and Transmittal Summary (1008[REDACTED]CAW not provided

Reviewer Comment (2019-03-01): Seller provided the 1008 dated [REDACTED] with a [REDACTED] DTI.

09/12/2018

Primary

Purchase

Non QM

216127598

[REDACTED]

23236302

Compliance

State Compliance

State HPML

(State HPML Disclosure) New York Subprime Loan (Counseling Disclosure Not Provided within Three Days of Application)

[REDACTED] Subprime Loan: Counseling Disclosure not provided to borrower within three days of application.

State counseling disclosure provided[REDACTED][REDACTED] > origination date plus 3 days [REDACTED].

Reviewer Comment (2019-03-01): Seller provided the [REDACTED] disclosure dated [REDACTED]

09/13/2018

Primary

Purchase

No obvious cure

Non QM

216127598

[REDACTED]

23236303

Compliance

State Compliance

State HPML

[REDACTED] Subprime Home Loan Threshold Fixed Compliant

Buyer Comment (2019-03-01): [REDACTED] decision to Waive

09/14/2018

Primary

Purchase

Non QM

216127598

[REDACTED]

23236304

Compliance

State Compliance

State HPML

(State HPML Disclosure) New York Subprime Loan (Counseling Disclosure Not Provided at Application but within Three Days)

[REDACTED] Subprime Loan: Counseling Disclosure not provided to borrower at the time of application, but within three days of application.

Disclosure provided [REDACTED] originator date [REDACTED] and disclosure provided [REDACTED] <= origination date plus 3 days [REDACTED]

Buyer Comment (2019-03-01): [REDACTED] decision to Waive

09/14/2018

Primary

Purchase

No obvious cure

Non QM

216127599

[REDACTED]

23236330

Credit

Guideline

Guideline Issue

Guideline

Aged document: Primary Valuation is older than guidelines permit

Valuation Type: Appraisa[REDACTED]valuation Report Date: [Redacted] ___

Reviewer Comment (2019-03-01): Appraisal is within xxx per guides as appraisal dated[REDACTED][REDACTED] and consummation date[REDACTED]expiration date[REDACTED][REDACTED].

06/05/2018

Primary

Refinance - Cash-out - Other

Non QM

216127599

[REDACTED]

23236332

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 7.24730% or Final Disclosure APR of 7.32200% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 6.01000%. Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2019-03-01): (Redacted) mortgage purchases HPML compliant loans.

06/01/2018

Primary

Refinance - Cash-out - Other

Non QM

216127599

[REDACTED]

23236333

Compliance

State Compliance

State HPML

(State HPML Disclosure) New York Subprime Loan (Counseling Disclosure Not Provided)

[REDACTED] Loan: Counseling Disclosure not provided to borrower.

Missing evidence of the borrower's receipt of the [REDACTED] Counseling Disclosure.

Reviewer Comment (2019-03-01): Seller provided the [REDACTED] Disclosure dated[REDACTED][REDACTED].

Reviewer Comment (2019-03-01): (j) No lending without providing information on the availability of counseling. A lender or mortgage broker must deliver, place in the mail, fax or electronically transmit the following notice in at least twelve point type to the borrower of a [REDACTED] home loan at the time of application: "You should consider financial counseling prior to executing loan documents. The enclosed list of counselors is provided by the [REDACTED] [REDACTED]." In the event of a telephone application, the disclosures must be made immediately after receipt of the application by telephone. Such disclosure shall be on a separate form. In order to utilize an electronic transmission, the lender or broker must first obtain either written or electronically transmitted permission from the borrower. A list of approved counselors, available from the [REDACTED][REDACTED], shall be provided to the borrower by the lender or the mortgage broker at the time that this disclosure is given. Exception remains.

Reviewer Comment (2019-03-01): Seller provided the Homeownership Counseling Disclosure with out the following verbiage :"You should consider financial counseling prior to executing loan documents. The enclosed list of counselors is provided by the [REDACTED] Banking Department." Document supplied was not the [REDACTED].

07/25/2018

Primary

Refinance - Cash-out - Other

No obvious cure

Non QM

216127599

[REDACTED]

23236334

Compliance

State Compliance

State HPML

(State HPML Disclosure) New York Subprime Loan (Subprime Legend Not on Mortgage)

[REDACTED] Loan: Mortgage does not contain a legend stating that the subprime loan is subject to Section[REDACTED] the Banking Law.

Missing evidence of the Mortgage containing legend stating that the subprime loan is subject to Section[REDACTED] the Banking Law.

Reviewer Comment (2019-03-01): Seller provided the xst page of the Loan Security Agreement containing the [REDACTED] Legend and Intent to re-record dated [REDACTED]].

Reviewer Comment (2019-03-01): Seller provided page x of the mortgage with legend. Missing the following: Letter of Explanation, and Proof of Delivery. Best Practice would be to have signed and re-recorded Mortgage. Exception remains.

Reviewer Comment (2019-03-01): The [REDACTED] legend is a requirement under x of the [REDACTED] and the exception is valid.
x. Required legend. [REDACTED] home loan mortgages shall include a legend on top of the mortgage in twelve-point type stating that the mortgage is a [REDACTED] home loan subject to this section. Exception remains.

Reviewer Comment (2019-03-01): Escalated

07/25/2018

Primary

Refinance - Cash-out - Other

Provide the following: Letter of Explanation, corrected Mortgage (with required Legend), and proof of mailing. Best Practice would be to have signed and re-recorded Mortgage. (This will overwrite the existing Exception Remediation which reads: Provide the following: Corrected Mortgage (with required Legend), Letter of Explanation, and Proof of Delivery. Best Practice would be to have signed and re-recorded Mortgage.).

Non QM

216127599

[REDACTED]

23236335

Compliance

State Compliance

State HPML

(State HPML Provision) New York Subprime Loan (Escrow Not Established)

[REDACTED] Loan: Mandatory escrow account not established for the collection of property taxes and insurance. (Note: Does not apply to a subordinate lien when the taxes and insurance are escrowed through another home loan. It also does not apply if the borrower can demonstrate a record of [REDACTED] of timely payments of taxes and insurance on a previous home loan.)

Final Disclosure reflects No escrows.

Reviewer Comment (2019-03-01): lender opened the escrow account post-closing to meet the [REDACTED] requirement. The documentation is sufficient to cure the exception PCCD dated (Redacted) IEAD dated[REDACTED]].

Reviewer Comment (2019-03-01): Though the financial statements show that the borrower is not paying the taxes and insurance directly (which is what we would expect), this does not provide evidence that the maintenance fees being paid by our borrower are not used to pay the taxes and insurance. Any amount paid by the borrower that is used toward the taxes and insurance would be required to be escrowed. Exception remains.

Reviewer Comment (2019-03-01): The tax disclosure relates to the escrow requirement in that there are taxes and insurance required on [REDACTED], they are just generally not paid by the borrower. However, when incorporated into the monthly maintenance fees, the maintenance fees should then be escrowed. If they are paid another way, please advise. Exception remains.

Reviewer Comment (2019-03-01): If tax[REDACTED]surance are included in the monthly maintenance fees or dues, then that amount would be required to be escrowed. Unlike federal HPML, [REDACTED] does not exempt [REDACTED] from the escrow requirement. Please provide evidence that there are no taxes or insurance paid by the borrower or included in the monthly maintenance fee subject to review. Exception remains.

Reviewer Comment (2019-03-01): Escalated

09/04/2018

Primary

Refinance - Cash-out - Other

Non QM

216127599

[REDACTED]

23236336

Compliance

State Compliance

State HPML

[REDACTED] Home Loan Threshold Fixed N[REDACTED]liant

[REDACTED] Loan: APR on subject loan of x.xxxxx% or Final Disclosure APR of x.xxxxx% is in excess of allowable threshold of Prime Mortgage Market Rate x.xxxxx +[REDACTED], or x.xxxxx%. [REDACTED] SubPrime Loan.

Loan is a compliant [REDACTED] loan.

Buyer Comment (2019-03-01): (Redacted) has elected to waive

Reviewer Comment (2019-03-01): Loan exception has been downgraded EVx-B compliant [REDACTED] loan .

Buyer Comment (2019-03-01): Please advise if cleared?

Reviewer Comment (2019-03-01): Escalated

09/17/2018

Primary

Refinance - Cash-out - Other

Non QM

216127599

[REDACTED]

23236337

Compliance

State Compliance

State HPML

(State HPML Disclosure) New York Subprime Loan (Notice of Taxes and Insurance Not Provided)

[REDACTED] Loan: Borrower not provided with Notice of Taxes and Insurance on 1st lien, subprime loan.

Missing evidence of the borrower's receipt of the [REDACTED] Tax Disclosure.

Reviewer Comment (2019-03-01): Taxes and insurance and HOA disclosed on the initial LE dated[REDACTED][REDACTED].

Reviewer Comment (2019-03-01): The tax disclosure relates to the escrow requirement in that there are taxes and insurance required on [REDACTED], they are just generally not paid by the borrower. However, when incorporated into the monthly maintenance fees, the maintenance fees should then be escrowed. If they are paid another way, please advise. Exception remains.

Reviewer Comment (2019-03-01): If tax[REDACTED]surance are included in the monthly maintenance fees or dues, then that amount would be required to be escrowed. Unlike federal HPML, [REDACTED] does not exempt [REDACTED] from the escrow requirement. Please provide evidence that there are no taxes or insurance paid by the borrower or included in the monthly maintenance fee subject to review. Exception remains.

Reviewer Comment (2019-03-01): Escalated

06/19/2018

Primary

Refinance - Cash-out - Other

No obvious cure

Non QM

216127599

[REDACTED]

23236338

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Without Selle[REDACTED]al Closing Costs Exceeds Limits

TI[REDACTED]A Integrated Disclosur[REDACTED]culating Cash to Close: Final Closing Disclosure provided on [Redacted] disclosed an inaccurate value of the dollar amount by which the Total Closing Costs exceeded the legal limit. (Fin[REDACTED]edacted])

A Cure for (Titl[REDACTED]mination Fee) of ([Redacted]was not provided.

Reviewer Comment (2019-03-01): After fee review entry fee was listed on CD only and not LE paid to same service provider.

06/05/2018

Primary

Refinance - Cash-out - Other

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127599

[REDACTED]

23236339

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]mination Fee. Fee Amount of [Redacted] exceeds tolerance of [Redacted]. Insufficient or no cure was provided to the borrower.

Fee was not disclosed on Loan Estimate.

Reviewer Comment (2019-03-01): After fee review entry fee was listed on CD only and not LE paid to same service provider.

06/05/2018

Primary

Refinance - Cash-out - Other

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

Non QM

216127599

[REDACTED]

23236340

Credit

Property - Appraisal

Property Eligibility - Subject and Improvements

Property - Appraisal

Guideline Issue: Property type not allowed per credit guidelines

Lender approved exception to allow Property type is Cooperative.

[REDACTED]ower [Redacted]for x years at [Redacted]

Borrower [Redacted] with xx years in same line of work

Credit score is xxx, xx points > program requirement of xxx

LTV is xx.xxx%, x.xxx% < program maximum of xx%

Reviewer Comment (2019-03-01): (Redacted) has elected to waive this requirement based on compensating factors.

06/01/2018

Primary

Refinance - Cash-out - Other

Non QM

216127599

[REDACTED]

23236341

Compliance

Federal Compliance

TRID Defect

TRID Post Close Closing Disclosure Finance Charge

TI[REDACTED]A Integrated Disclosur[REDACTED]t Closing Disclosure: Finance Charge of [Redacted] disclosed on the Final Closing Disclosure dated [Redacted] is und[REDACTED]losed by more than $35 compared to the Financed Charge calculated based on fees disclosed on the Post Closing Disclosure of $[Redacted] provided on [Redacted], a difference of $[Redacted]. (Po[REDACTED]edacted])

Calculated PC finance charge [Redacted] > final CD finance charge[Redacted]

Reviewer Comment (2019-03-01): Post Close CD reflects appropriate finance charge.

Buyer Comment (2019-03-01): The Title examination fee is not an APR fee so this is invalid. Please waive.

Reviewer Comment (2019-03-01): Fees included in APR: Application fee $xxx, Flood Cert (life of loan) $x.xx, Loan Disc Points $xxx, Prepaid Interest $xxx.xx, Processing Fee $xxx, Title - Couri[REDACTED]press Ma[REDACTED]ssenger Fee $xxx, Title -Recording Service Fee $xxx, Title - Settleme[REDACTED]osi[REDACTED]crow Fee $xxx.xx. (total APR fees $[REDACTED].xx). It appears the difference is Title - Examination Fee of $xxx.

Buyer Comment (2019-03-01): Could you pleas send me your figures on why we are under disclosed on the PC CD?

Reviewer Comment (2019-03-01): Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed equivalent amount, Corrected CD, and Re-open Rescission if Applicable

09/14/2018

Primary

Refinance - Cash-out - Other

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Refund check for underdisclosed equivalent amount, Corrected CD, and Re-open Rescission if Applicable

Non QM

216127603

[REDACTED]

23236351

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Title

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

Reviewer Comment (2018-10-29): Received Final Title

10/15/2018

Primary

Refinance - Cash-out - Home Improvement

Non QM

216127603

[REDACTED]

23236352

Compliance

Federal Compliance

ATR/QM

[REDACTED] Tax Return Recenc[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): [REDACTED] Tax Return[REDACTED] [REDACTED] or [REDACTED] tax returns provided are not the most recent. Application Date [REDACTED], Most Recent Tax Return End Date [REDACTED], Tax Return Due Date [REDACTED]. ([REDACTED])

[REDACTED] [REDACTED] and [REDACTED] Tax Extensions in file

Reviewer Comment (2019-01-09): duplicate

Seller Comment (2018-12-07): Documentation provided was acceptable, loan is still non-QM and not an ATR fail

01/09/2019

Primary

Refinance - Cash-out - Home Improvement

Non QM

216127603

[REDACTED]

23236353

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Reserves are stated on the application but missing bank statements

Reviewer Comment (2019-01-08): Net proceeds from cash out used for reserves, allowable per guidelines.

Buyer Comment (2018-10-29): Cash Out of [REDACTED] is acceptable to use for reserves

01/08/2019

Primary

Refinance - Cash-out - Home Improvement

Non QM

216127603

[REDACTED]

23236354

Credit

Title

General

Title

Title Policy Coverage is less than Original Loan Amount.

Reviewer Comment (2018-10-29): Received Final Title

10/15/2018

Primary

Refinance - Cash-out - Home Improvement

Non QM

216127603

[REDACTED]

23236355

Compliance

Federal Compliance

ATR/QM

[REDACTED] Tax Return Recenc[REDACTED]

To remain EV2

Reviewer Comment (2019-01-10): Ok to waive per client.

Reviewer Comment (2019-01-10): We are unable to waive ATR items, we need to have the proper documentation in order to clear the ATR fail. We need the full [REDACTED] returns or an audited [REDACTED].

Seller Comment (2019-01-09): please waive

01/10/2019

Primary

Refinance - Cash-out - Home Improvement

Non QM

216127605

[REDACTED]

23236372

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 7.48090% or Final Disclosure APR of 7.54100% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 6.18000%. Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2018-10-29): [Redacted] mortgage purchases HPML compliant loans.

08/13/2018

Primary

Purchase

Non QM

216127605

[REDACTED]

23236373

Compliance

State Compliance

State HPML

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

Maryland High[REDACTED]ed Mortgage Loan: Borrower not provided with written disclosure of n[REDACTED] priced loans otherwise qualified for.

Buyer Comment (2018-10-29): please waive

Reviewer Comment (2018-10-29): PCCD and LOX do not cure exception - exception remains for [REDACTED] DPML Disclosure

Buyer Comment (2018-10-29): Documentation provided, PCCD, LOX, CHECK [REDACTED] cured all other exceptions, loan is no longer non compliant

08/30/2018

Primary

Purchase

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.

Non QM

216127605

[REDACTED]

23236374

Compliance

State Compliance

State HPML

Maryland HPML Threshold Test N[REDACTED]liant

Maryland High[REDACTED]ed Mortgage Loan: APR on subject loan of [Redacted]% or Final Disclosure APR of [Redacted]% is in excess of allowable threshold of APOR [Redacted]% + 1.5%, or [Redacted]%. N[REDACTED]liant Higher Priced Loan.

Buyer Comment (2018-10-29): please waive

Reviewer Comment (2018-10-29): Loan is non compliant for APR EVx - exception remains

Buyer Comment (2018-10-29): Documentation provided, PCCD, LOX, CHECK [REDACTED] cured all other exceptions, loan is no longer non compliant

08/30/2018

Primary

Purchase

Non QM

216127605

[REDACTED]

23236375

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Assumption

TI[REDACTED]A Integrated Disclosur[REDACTED]n Disclosures: Final Closing Disclosure provided on [Redacted] incorrectly disclosed whether the loan allows for Assumption. [Redacted]

Assumable ARM loan but final CD shows not assumable.

Reviewer Comment (2018-10-29): Seller provided the PCCD and LOX

Buyer Comment (2018-10-29): Please see [REDACTED], PCCD LOX

08/27/2018

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127605

[REDACTED]

23236376

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Selle[REDACTED]al Closing Costs Exceeds Limits

Final disclosure reflects an increase in total costs exceeding the legal limit, insufficient cure provided at closing

Reviewer Comment (2018-10-29): Seller provided the corrected PCCD, LOX, refund and shipping label received on [Redacted]

Buyer Comment (2018-10-29): please see PCCD 2, LOX 2, [REDACTED] 2

Reviewer Comment (2018-10-29): Seller provided the PCCD, refund, LOX and shipping label however the PCCD is missing the tolerance cure on page 3 in the calculating cash to close section for -199.00. Exception remains

Buyer Comment (2018-10-29): Please see [REDACTED], CHECK, PCCD LOX

09/05/2018

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127605

[REDACTED]

23236377

Compliance

Federal Compliance

TRID

TRID Invalid Section B Combinations

TI[REDACTED]A Integrated Disclosur[REDACTED]n Costs: Final Closing Disclosure provided on [Redacted] reflects a fee Paid To lender or broker for fee within Services Borrower Did Not Shop For section. [Redacted]

Both the admin fee and processing fee on Section B of final CD shows payee as Broker.

Buyer Comment (2018-10-29): please waive

Buyer Comment (2018-10-29): please see PCCD 2, LOX 2, [REDACTED] 2

Reviewer Comment (2018-10-29): Exception remains as fees remain as paid to Broker.

09/05/2018

Primary

Purchase

Good Faith Redisclosure

Non QM

216127605

[REDACTED]

23236378

Compliance

Federal Compliance

TRID

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

TI[REDACTED]A Integrated Disclosure: the Seller's final CD contained fees not reflected on the consumer's CD. (Fin[REDACTE[REDACTED]

TRID n[REDACTED]liant. Seller paid fees on Seller's Closing Disclosure are not consistent with those reflected on the Borrower's Final Closing Disclosure. Seller CD fees total $ [Redacted], while closing CD seller's fees total $0.00

Reviewer Comment (2018-10-29): Seller provided the PCCD and LOX

Buyer Comment (2018-10-29): Please see [REDACTED], CHECK, PCCD LOX

08/27/2018

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127605

[REDACTED]

23236379

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]trac[REDACTED]itle Search. Fee Amount of [Redacted] exceeds tolerance of [Redacted]. Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Titl[REDACTED]trac[REDACTED]itle Search. Fee Amount of [Redacted] exceeds tolerance of [Redacted]. Missing proof of valid change, insufficient or no cure was provided to the borrower.

Reviewer Comment (2018-10-29): Seller provided the corrected PCCD, LOX, refund and shipping label received on [Redacted]

Buyer Comment (2018-10-29): please see PCCD x, LOX x, [REDACTED] x

Reviewer Comment (2018-10-29): Seller provided the PCCD, refund, LOX and shipping label however the PCCD is missing the tolerance cure on page x in the calculating cash to close section for -xxx.xx. Exception remains

Buyer Comment (2018-10-29): Please see [REDACTED], CHECK, PCCD LOX

09/05/2018

Primary

Purchase

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

Non QM

216127605

[REDACTED]

23236380

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

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

Lender approved

No public records

Borrower has been [REDACTED] owner of [Redacted] for the past 8.3[REDACTED] and in the profession for the past [REDACTED]

xxxx months reserves >xx months guideline minimum

Credit score xxx, xx points > program requirement of xxx

Reviewer Comment (2018-10-29): [Redacted] has elected to waive this exception based on compensating factors.

09/13/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236475

Compliance

Federal Compliance

TRID

TRID Revised Loan Estimate Received Date > Closing Disclosure Received Date

TI[REDACTED]A Integrated Disclosure: Revised Loan Estimate [REDACTED] received on or after the date the Closing Disclosure [REDACTED] 12:00:00 AM was received. ([REDACTED])

Reviewer Comment (2018-10-29): LE rec'd by the borrower [REDACTED], CD sent to borrower 5:00 pm (doc [REDACTED], [REDACTED]).

08/15/2018

Primary

Purchase

No Defined Cure

Non QM

216127612

[REDACTED]

23236476

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Timing Before Closing

TI[REDACTED]A Integrated Disclosure: Revised Loan Estimate provided on [REDACTED] not received by borrower at least four (4) [REDACTED] days prior to closing. ([REDACTED])

LE rec'd by borrower [REDACTED]. Loan closed [REDACTED].

Reviewer Comment (2018-12-12): Duplicate

12/12/2018

Primary

Purchase

No Defined Cure

Non QM

216127612

[REDACTED]

23236477

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Matc[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

DTI

Reviewer Comment (2019-06-03): Underlying doc exceptions have been cleared, diligence designation is now Non-QM.

Reviewer Comment (2018-12-12): DTI

Seller Comment (2018-12-10): This is Non-QM as it doesn't meet the appendix Q income documentation requirements which is why we designated it non-QM

06/03/2019

Primary

Purchase

Lender to provide updated ATR/QM status

Non QM

216127612

[REDACTED]

23236478

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Asset[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Unable to verify[REDACTED] income using reasonably reliable thi[REDACTED]y records. ([REDACTED])

Missing third party verification and [REDACTED]

Reviewer Comment (2018-12-12): Rec'd SOS printout dated [REDACTED]

Seller Comment (2018-12-10): this was in the file

12/12/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236479

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Asset[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Unable to verify [REDACTED] income using reasonably reliable thi[REDACTED]y records. ([REDACTED])

Missing third party verification and [REDACTED]

Reviewer Comment (2018-12-12): Rec'd SOS printout dated [REDACTED]

Seller Comment (2018-12-10): this was in the file

12/12/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236480

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Abili[REDACTED]epay (Do[REDACTED]k 2014): General Abili[REDACTED]epay requirements not satisfied.

DTI

Reviewer Comment (2019-05-15): Cleared with compliance re-run.

05/15/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236481

Compliance

Federal Compliance

ATR/QM

[REDACTED] Tax Return Recenc[REDACTED]

Verified and entered information provided.

Reviewer Comment (2018-12-12): Duplicate

Seller Comment (2018-12-10): Documentation provided was acceptable, loan is still non-QM and not an ATR fail

12/12/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236482

Compliance

Federal Compliance

ATR/QM

[REDACTED] Tax Return Recenc[REDACTED]

Verified and entered information provided.

Reviewer Comment (2018-12-12): Duplicate

Seller Comment (2018-12-10): Documentation provided was acceptable, loan is still non-QM and not an ATR fail

12/12/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236483

Compliance

Federal Compliance

TRID

TRID Seller Closing Disclosure

TI[REDACTED]A Integrated Disclosure: Seller Closing Disclosure not located in the file. ([REDACTED])

Missing seller's CD.

Reviewer Comment (2018-12-12): Duplicate

12/12/2018

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127612

[REDACTED]

23236484

Credit

Credit Documentation

Credit

No evidence of fraud report in file

Credit Report: Origina[REDACTED]Borrower: [REDACTED]

Reviewer Comment (2018-12-12): Rec'd fraud report.

12/12/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236486

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

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

*******************PLEASE CLEAR*****************Valuation conducted [REDACTED] after start date and disaster fully contained. Property does not have damage related to the event

Reviewer Comment (2018-12-12): Valuation conducted five months after start date and disaster fully contained. Property does not have damage related to the event

Seller Comment (2018-12-10): *******************PLEASE CLEAR*****************Valuation conducted five months after start date and disaster fully contained. Property does not have damage related to the event

12/12/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236487

Credit

Miscellaneous

Guideline

Credit Exception:

Unable to include assets from [REDACTED]. The funds are held in a [REDACTED]. Missing [REDACTED] and evidence borrower has full access to the funds.

Borrower has job stability for 7.9[REDACTED] as XXXXXX

0 X 30 housing history over [REDACTED]

Originator

Originator

Reviewer Comment (2019-04-24): Lender approved exception for allow a reserve shortage of 1 month due to [REDACTED] of a gift was not sourced.

Reviewer Comment (2019-04-04): Updated [REDACTED] acct [REDACTED] with interim print out, new balance [REDACTED]. However, still short 1 month. Variance appears to be from Gift Funds. Gift Letter for [REDACTED], but only [REDACTED] was sourced.

Seller Comment (2019-04-01): reserves are as follows: [REDACTED] acct [REDACTED] - Gift [REDACTED] [REDACTED] acct [REDACTED] [REDACTED] acct [REDACTED] - [REDACTED] acct [REDACTED] [REDACTED]- [REDACTED] acct [REDACTED] - [REDACTED] acct [REDACTED] [REDACTED]= [REDACTED] - [REDACTED] (cash to close) = [REDACTED] [REDACTED]

Reviewer Comment (2019-01-18): Allowing the [REDACTED] to be used however, still short the full [REDACTED] months reserves requirement. Using these funds only allows a little over [REDACTED] months reserves after funds from closing.

Seller Comment (2019-01-18): The bank statements has that the borrower is the [REDACTED] therefore we wouldn't ask for the trust

04/24/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236488

Credit

Asset

Asset Documentation

Asset

Asset Issue: [REDACTED]funds are missing evidence of receipt

$[REDACTED] not reflected on final CD.

Reviewer Comment (2018-12-17): Rec'd revised gift letter of [REDACTED]

Reviewer Comment (2018-12-12): Gift letter [REDACTED], escrow deposit receipt [REDACTED].

Seller Comment (2018-12-11): they were wired directly to escrow see escrow receipt in file

12/17/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236489

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Reviewer Comment (2018-12-17): Rec'd approval

12/17/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236490

Credit

Asset

Asset Calculation / Analysis

Asset

Guideline Requirement: Available for Reserves discrepancy.

Borrower has job stability for 7.9[REDACTED] as XXXXXX

0 X 30 housing history over [REDACTED]

Originator

Originator

Reviewer Comment (2019-04-24): Lender approved exception for allow a reserve shortage of 1 month due to [REDACTED] of a gift was not sourced.

Seller Comment (2019-04-22): Borrower is short 1 month reserves - exception approval uploaded

04/24/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236491

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Unable to include [REDACTED] income. [REDACTED] [REDACTED] were from the sale of real estate: sufficient assets to show the borrower will continue receiving the [REDACTED] for a minimum of [REDACTED] from the note date have not been documented. Borrower owns rental properties, however, the [REDACTED] has been used in qualifying.

Reviewer Comment (2019-05-15): Guidelines allow [REDACTED] year for [REDACTED]. DTI is < [REDACTED]

Reviewer Comment (2019-04-24): Per underwriter worksheet and final 1003, borrower was qualified with monthly [REDACTED] income of [REDACTED] calculated using the sale of [REDACTED] reported on Schedule [REDACTED] of the [REDACTED] personal tax return. [REDACTED] and [REDACTED] personal returns were not provided to verify a history of receipt of this type of [REDACTED] and a [REDACTED] continuance cannot be verified. Therefore, this income has been excluded and the DTI remains at [REDACTED].

Reviewer Comment (2018-12-17): Rec'd income analysis worksheet which reflects [REDACTED] as well as rent losses subtracted from income rather than added to debt. [REDACTED] DTI > max allowed of [REDACTED]

Seller Comment (2018-12-12): The [REDACTED] was not used, see attached income worksheet as the [REDACTED] properties that were used are still owned by the borrower

05/15/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236492

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Unable to include assets from [REDACTED]. The funds are held in a [REDACTED]. Missing [REDACTED] and evidence borrower has full access to the funds.

Reviewer Comment (2019-04-24): Verified assets of [REDACTED] are sufficient to cover the funds to close of [REDACTED]

Reviewer Comment (2018-12-17): Revised commentary based on updated gift letter of [REDACTED]: Assets for Closing of [REDACTED] is less than Cash From Borrower [REDACTED]. Earnest money of [REDACTED] is not included; the account is held in trust.

Seller Comment (2018-12-12): The borrower came in with [REDACTED] - [REDACTED] was gift and the remaining [REDACTED] was from the borrower. The escrow deposits and settlement statement in the file reflect this same amount

04/24/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236494

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Loan Originator Compensation (Do[REDACTED]k 2014[REDACTED]n Originator Compensation disclosure not provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Reviewer Comment (2019-01-18): Attestation approved by [REDACTED] in file.

Seller Comment (2019-01-18): please waive

Reviewer Comment (2018-12-12): Please provide copy of broker agreement, unable to locate in file.

Seller Comment (2018-12-11): We have provided our broker agreement which shows that all transactions are based on a set compensation and not subject to terms of the transaction

01/18/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236495

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employmen[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Unable to verify current[REDACTED] employment status using reasonably reliable thi[REDACTED]y records. ([REDACTED])

Missing third party verification of [REDACTED], [REDACTED].

Reviewer Comment (2018-12-12): Duplicate

12/12/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236496

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employmen[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Unable to verify current [REDACTED] employment status using reasonably reliable thi[REDACTED]y records. ([REDACTED])

Missing third party verification of [REDACTED], [REDACTED].

Reviewer Comment (2018-12-12): Duplicate

12/12/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236497

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Do[REDACTED]k 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

DTI

Reviewer Comment (2019-05-15): Cleared with compliance re-run.

05/15/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236498

Credit

Miscellaneous

Guideline

Credit Exception:

[REDACTED] borrower. Missing evidence of the existence of the [REDACTED] within [REDACTED] days of closing verified through a disinterested third party such as CPA, regulatory agency, applicable licensing bureau, or verification of a phone and address listing using the internet. ([REDACTED]).

Reviewer Comment (2019-05-23): Rec'd SOS and DRE printouts dated [REDACTED]

Reviewer Comment (2019-05-14): Rec'd SOS ([REDACTED]) and DRE ([REDACTED]) printouts dated [REDACTED], which are not within [REDACTED] of the [REDACTED] closing date.

Reviewer Comment (2019-04-24): Received a [REDACTED] entity filing for [REDACTED]. with the borrower's name handwritten in. A valid 3rd party verification for both this [REDACTED] and a copy of the borrower's [REDACTED] for the [REDACTED] [REDACTED] are required to clear this exception.

05/23/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236499

Credit

Miscellaneous

Guideline

Credit Exception:

Missing rate lock.

Reviewer Comment (2019-01-18): Rec'd rate lock.

01/18/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236500

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Reviewer Comment (2018-12-17): rec'd fraud report

12/17/2018

Primary

Purchase

Non QM

216127612

[REDACTED]

23236501

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Asset[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Unable to verify[REDACTED] income using reasonably reliable thi[REDACTED]y records. ([REDACTED])

Revised commentary: Missing most recent tax transcripts, most recent signed, dated 1040s, audited [REDACTED], most recent [REDACTED] tax transcripts or most recent signed,dated [REDACTED] returns. Rec'd additional copy of [REDACTED].

Reviewer Comment (2019-05-15): Cleared with compliance re-run.

Reviewer Comment (2019-04-24): Income for [REDACTED] was verified with [REDACTED] and [REDACTED] [REDACTED] [REDACTED] returns and a [REDACTED] [REDACTED] statement. As of [REDACTED], still have not received a [REDACTED] YTD [REDACTED] through [REDACTED] as required by [REDACTED] full documentation guidelines.

05/15/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236502

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Income and Asset[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Unable to verify [REDACTED] income using reasonably reliable thi[REDACTED]y records. ([REDACTED])

Reviewer Comment (2019-05-15): Cleared with compliance re-run.

Reviewer Comment (2019-04-24): Income for [REDACTED] was verified with a [REDACTED] personal tax return and a [REDACTED] [REDACTED] statement. As of [REDACTED], still have not received a [REDACTED] YTD [REDACTED] through [REDACTED] as required by [REDACTED] full documentation guidelines.

05/15/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236503

Compliance

Federal Compliance

ATR/QM

[REDACTED] Tax Return Recenc[REDACTED]

Missing most recent tax returns. The returns in file are from [REDACTED]

Reviewer Comment (2019-01-22): Waive per client.

01/22/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236504

Compliance

Federal Compliance

ATR/QM

[REDACTED] Tax Return Recenc[REDACTED]

Missing most recent tax returns. The returns in file are from [REDACTED]

Reviewer Comment (2019-01-22): Waive per client.

01/22/2019

Primary

Purchase

Non QM

216127612

[REDACTED]

23236505

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Timing Before Closing

TI[REDACTED]A Integrated Disclosure: Revised Loan Estimate provided on [REDACTED] not received by borrower at least four (4) [REDACTED] days prior to closing. ([REDACTED])

LE rec'd by borrower [REDACTED]. Loan closed [REDACTED].

Reviewer Comment (2019-05-22): [REDACTED] received evidence of earlier receipt.

Reviewer Comment (2019-05-16): LE rec'd by borrower [REDACTED]. Loan closed [REDACTED]. Dates confirmed from disclosure tracking. Revised Loan Estimate provided on [REDACTED] not received by borrower at least [REDACTED] [REDACTED] days prior to closing.

05/22/2019

Primary

Purchase

No Defined Cure

Non QM

216127612

[REDACTED]

23236506

Compliance

Federal Compliance

TRID

TRID Seller Closing Disclosure

TI[REDACTED]A Integrated Disclosure: Seller Closing Disclosure not located in the file. ([REDACTED])

Missing seller's CD.

Reviewer Comment (2019-01-22): Waive per client.

01/22/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127612

[REDACTED]

23236507

Compliance

Federal Compliance

TRID

TRID Revised Loan Estimate Received Date > Closing Disclosure Received Date

TI[REDACTED]A Integrated Disclosure: Revised Loan Estimate [REDACTED] received on or after the date the Closing Disclosure [REDACTED] 12:00:00 AM was received. ([REDACTED])

Reviewer Comment (2019-01-22): Waive per client.

01/22/2019

Primary

Purchase

No Defined Cure

Non QM

216127612

[REDACTED]

23236508

Compliance

Federal Compliance

ATR/QM Defect

QM Originator Loan Designation Info Not Provided

Qualified Mortgage (Do[REDACTED]k 2014): Originator Loan Designation not provided.

Bid tape is blank.

Reviewer Comment (2019-05-15): Non-QM

05/15/2019

Primary

Purchase

Non QM

216127616

[REDACTED]

23236557

Compliance

Federal Compliance

TRID

TRID Appraisal Disclosur[REDACTED]A Status

ECO[REDACTED] does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure.

Borrower was not provided with the right to receive a copy of the Appraisal Disclosure

Reviewer Comment (2019-05-31): Appraisal Disclosure provided.

02/25/2019

Primary

Purchase

Good faith redisclosure

Non QM

216127616

[REDACTED]

23236558

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 8.22480% or Final Disclosure APR of 8.26900% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 6.00000%. N[REDACTED]liant Higher Priced Mortgage Loan.

Reviewer Comment (2019-05-31): .

02/25/2019

Primary

Purchase

Non QM

216127616

[REDACTED]

23236559

Compliance

Federal Compliance

TRID

TRID Appraisal Disclosur[REDACTED]L Status

HPM[REDACTED]e does not evidence the consumer was provided with the right to receive a copy of the Appraisal Disclosure.

Borrower's right to receive a copy of the Appraisal Disclosure not in file.

Reviewer Comment (2019-05-31): Appraisal Disclosure provided.

02/25/2019

Primary

Purchase

Good faith redisclosure

Non QM

216127616

[REDACTED]

23236560

Compliance

Federal Compliance

TRID

TRID Servicing Disclosure Status

File does not evidence the consumer was provided with the Servicing Disclosure.

Servicing disclosure not provided to Borrower

Reviewer Comment (2019-05-31): [REDACTED] received required documents, exception is cleared.

02/25/2019

Primary

Purchase

Good faith redisclosure

Non QM

216127616

[REDACTED]

23236561

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Do[REDACTED]k 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

List of Homeownership Counseling Organization not provided to Borrower

Reviewer Comment (2019-05-31): Homeownership Counseling List provided.

02/25/2019

Primary

Purchase

Non QM

216127616

[REDACTED]

23236562

Compliance

Federal Compliance

TRID Defect

TILA-RESPA Integrated Disclosure: application date on or after 10/3/2015, no Loan Estimates in the Loan File

TI[REDACTED]A Integrated Disclosure: Loan Estimate not provided within loan images to evidence delivery to the Borrower(s). The earliest Closing Disclosure provided in the loan file was used as the estimated baseline for Tolerance Testing. Depending on the actual values on the initial Loan Estimate, a fee tolerance cure of up to $6,841.13 may be required.

Missing LE

Reviewer Comment (2019-05-31): [REDACTED] received required documents, exception is cleared.

02/25/2019

Primary

Purchase

No Defined Cure

Non QM

216127616

[REDACTED]

23236564

Compliance

Federal Compliance

TRID

TRID Home Loan Toolkit Provided

Truth in Lending Act (2015): Creditor or broker did not provide Your Home Loan Toolkit Disclosure to applicant.

Creditor did not provide Borrower with Home Loan Toolkit

Reviewer Comment (2019-05-31): Home Loan Toolkit Provided

02/25/2019

Primary

Purchase

No Defined Cure

Non QM

216127616

[REDACTED]

23236565

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TI[REDACTED]A Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) [REDACTED] days prior to closing. ([REDACTED])

Evidence of earlier borrower receipt was not found in file.

Reviewer Comment (2019-05-31): .

02/25/2019

Primary

Purchase

No Defined Cure

Non QM

216127616

[REDACTED]

23236566

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Partial Payments

TI[REDACTED]A Integrated Disclosur[REDACTED]n Disclosures: Final Closing Disclosure provided on [REDACTED] incorrectly disclosed whether the loan allows for Partial Payments. ([REDACTED])

Final CD disclosed both that it may accept and that it does not accept partial payments.

Reviewer Comment (2019-05-31): [REDACTED] received Letter of Explanation & Corrected Closing Disclosure.

02/25/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127616

[REDACTED]

23236567

Credit

1003

Missing Document

1003

Missing Lender's Intial 10[REDACTED]plication.

Reviewer Comment (2019-05-31): Lender's Initial [REDACTED].

02/26/2019

Primary

Purchase

Non QM

216127616

[REDACTED]

23236568

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Provided Prior to Date Performed

ECOA Valuations Rule (Do[REDACTED]k 2014): Date valuation provided to applicant is prior to the date when valuation was performed. Unable to determine compliance with appraisal timing requirements.

Appraisal received [REDACTED] after effective date [REDACTED] and before the report date [REDACTED].

Buyer Comment (2019-05-31): [REDACTED] has elected to waive

02/25/2019

Primary

Purchase

Non QM

216127616

[REDACTED]

23236570

Compliance

Federal Compliance

TRID

TRID Esign Consent Agreement Status

ESIGN Ac[REDACTED]sing esign consent. TRID disclosures provided electronically will not be used to set or rebaseline fees for tolerance purposes. Disclosures sent electronically may result in a fee tolerance violation of up to $6,841.13 and disclosure timing violations.

E-sign Consent Agreement not provided.

Reviewer Comment (2019-05-31): [REDACTED] received E Consent dated [REDACTED] . Exception Cleared.

02/26/2019

Primary

Purchase

No Defined Cure

Non QM

216127616

[REDACTED]

23236571

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Selle[REDACTED]al Closing Costs Exceeds Limits

Buyer Comment (2019-05-31): [REDACTED] has elected to waive

02/25/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127616

[REDACTED]

23236572

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $310.00 exceeds tolerance of $0.00 plus 10% or $0.00. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-05-31): [REDACTED] received PCCD. Fees included in the 10% tolerance do not have tolerances besides the Recording Fee that stayed the same. Exception Cleared.

02/26/2019

Primary

Purchase

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

Non QM

216127616

[REDACTED]

23236573

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points. Fee Amount of $3,480.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-05-31): [REDACTED] received E Consent dated [REDACTED] . Exception Cleared.

02/26/2019

Primary

Purchase

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

Non QM

216127616

[REDACTED]

23236574

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Underwriting Fee. Fee Amount of $995.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-05-31): [REDACTED] received E Consent dated [REDACTED] . Exception Cleared.

02/26/2019

Primary

Purchase

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

Non QM

216127616

[REDACTED]

23236575

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Processing Fee. Fee Amount of $495.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-05-31): [REDACTED] received E Consent dated [REDACTED] . Exception Cleared.

02/26/2019

Primary

Purchase

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

Non QM

216127616

[REDACTED]

23236576

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee. Fee Amount of $96.93 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-05-31): [REDACTED] received E Consent dated [REDACTED] Exception Cleared.

02/26/2019

Primary

Purchase

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

Non QM

216127616

[REDACTED]

23236577

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Flood Certification (Life Of Loan). Fee Amount of $14.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-05-31): [REDACTED] received E Consent dated [REDACTED] . Exception Cleared.

02/26/2019

Primary

Purchase

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

Non QM

216127616

[REDACTED]

23236578

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]tlemen[REDACTED]losin[REDACTED]scrow Fee. Fee Amount of $200.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-05-31): [REDACTED] received required documents, exception is cleared.

02/25/2019

Primary

Purchase

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

Non QM

216127616

[REDACTED]

23236579

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]sing Protection Letter Fee. Fee Amount of $25.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-05-31): [REDACTED] received required documents, exception is cleared.

02/25/2019

Primary

Purchase

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

Non QM

216127616

[REDACTED]

23236580

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]ument Preparation Fee. Fee Amount of $200.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-05-31): [REDACTED] received required documents, exception is cleared.

02/25/2019

Primary

Purchase

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

Non QM

216127616

[REDACTED]

23236581

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]orsement Fee. Fee Amount of $150.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-05-31): [REDACTED] received required documents, exception is cleared.

02/25/2019

Primary

Purchase

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

Non QM

216127616

[REDACTED]

23236582

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]der's Title Insurance. Fee Amount of $875.20 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-05-31): [REDACTED] received required documents, exception is cleared.

02/25/2019

Primary

Purchase

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

Non QM

216127616

[REDACTED]

23236583

Compliance

Federal Compliance

TRID

TRID Alternate Table Usage

TI[REDACTED]A Integrated Disclosur[REDACTED]ts at Closi[REDACTED]calculating Cash to Close: Alternate tables not used consistently throughout the transaction.

Per testing

Reviewer Comment (2019-05-31): [REDACTED] received required documents, exception is cleared.

02/25/2019

Primary

Purchase

Good Faith Redisclosure

Non QM

216127623

[REDACTED]

23236669

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 7.55510% or Final Disclosure APR of 7.55900% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 6.48000%. Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2019-05-31): [REDACTED] mortgage purchases HPML compliant loans.

12/06/2018

Primary

Purchase

Non QM

216127623

[REDACTED]

23236670

Compliance

State Compliance

State HPML

(State HPML) California Higher-Priced Mortgage Loan (APR Exceeds HPML Threshold)

[REDACTED] High[REDACTED]ed Loan: APR on subject loan of 7.55510% or Final Disclosure APR of 7.55900% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 6.48000%. Compliant Higher Priced Loan.

Reviewer Comment (2019-05-31): [REDACTED] mortgage purchases HPML compliant loans.

12/06/2018

Primary

Purchase

Based on the loan being a compliant California HPML, with no violations of prohibited practices, borrower choice letter is not required for cure given there are no further actions to be taken to make the loan compliant. Loan may be cured so the loan is no longer an HPML as follows:

Within 90 days of closing: (1) notify borrower; (2) copy of refund check for overage so the loan is no longer HPML; and (3) proof of delivery.

(Narrow Defense - CHD Approval Required): Within 120 days of discovery or receipt of complaint, which compliance failure was not intentional and resulted from a bona fide error notwithstanding the maintanence of procedures reasonably adapted to avoid such errors, the creditor provides: (1) Lender Attestation to AMC attesting (i) 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 higher-priced loan was made despite procredures to prevent); and (ii) the lender has not received any notice from borrower of the failure; (2) notification to borrower; (3) copy of refund check for overage so the loan is no longer HPML; and (4) proof of delivery.

Non QM

216127623

[REDACTED]

23236671

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TI[REDACTED]A Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) [REDACTED] days prior to closing. ([REDACTED])

Evidence of earlier receipt missing from file, initial CD not signed by borrower.

Reviewer Comment (2019-05-31): [REDACTED] received Disclosure Tracking indicating receipt of the [REDACTED] CD on [REDACTED] Exception Cleared.

Buyer Comment (2019-05-31): Uploaded For Review

12/10/2018

Primary

Purchase

No Defined Cure

Non QM

216127623

[REDACTED]

23236673

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

ECOA Valuations Rule (Do[REDACTED]k 2014): Date valuation provided to applicant is prior to the date when valuation was performed. Unable to determine compliance with appraisal timing requirements. (Type:Prima[REDACTED]XXXX)

Appraisal timing waiver signed, no evidence of when report was provided.

Buyer Comment (2019-05-31): [REDACTED] has elected to waive this exception.

12/07/2018

Primary

Purchase

Non QM

216127623

[REDACTED]

23236674

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

Short funds to close, assets listed on 1003 credited [REDACTED]funds twice.

All accounts are paid as agreed since discharge of a [REDACTED] bankruptcy XXXXXX

Borrower has been [REDACTED] for the past [REDACTED] in XXXXXX

Credit score [REDACTED], 16 points > program requirement of [REDACTED]

[REDACTED] DTI on this Alt documentation loan < [REDACTED] guideline ma[REDACTED] below program guideline maximum

LTV is [REDACTED], 5% < program maximum of [REDACTED]

Originator

Originator

Originator

Originator

Originator

Reviewer Comment (2019-05-31): [REDACTED] has elected to waive this exception based on compensating factors.

Reviewer Comment (2019-05-31): Incorrectly cleared.

Reviewer Comment (2019-05-31): Most recent bank statement provided in trailing docs for [REDACTED] reflects funds transfer to title company.

Reviewer Comment (2019-05-31): Neither statement reflects a transfer of funds to a title company, only a transfer of [REDACTED] from one account to the other.

Buyer Comment (2019-05-31): Uploaded For Review-Bank statements

Reviewer Comment (2019-05-31): Most recent banks statements provided show transfer of funds from [REDACTED] to [REDACTED] , which also indicates a lower amount of the funds available for reserves. Exception remains.

Buyer Comment (2019-05-31): Bank statements uploaded

Reviewer Comment (2019-05-31): No additional assets have been provided.

Buyer Comment (2019-05-31): Disregard prior comments, please.

Buyer Comment (2019-05-31): At time of closing, borrower's required funds were [REDACTED] . As of [REDACTED] , he had [REDACTED] on deposit with [REDACTED] acct.,[REDACTED] and [REDACTED] on deposit with [REDACTED] , acct., [REDACTED] On [REDACTED] , the gift funds in the amount of [REDACTED] were deposited into borrower's [REDACTED] , [REDACTED] There were two deposits in the amount of [REDACTED] each as evidenced by gift check [REDACTED] an gift check [REDACTED] . Total funds available to borrower were [REDACTED] [REDACTED] in reserves with a reserve requirement of [REDACTED]

02/26/2019

Primary

Purchase

Non QM

216127623

[REDACTED]

23236675

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS Findings: All conditions were not met

Short funds to close, assets listed on 1003 credited [REDACTED]funds twice.

Reviewer Comment (2019-05-31): Most recent bank statement provided in trailing docs for [REDACTED]  reflects funds transfer to title company.

Reviewer Comment (2019-05-31): Neither statement reflects a transfer of funds to a title company, only a transfer of [REDACTED]  from one account to the other.

Buyer Comment (2019-05-31): Uploaded For Your Review: Bank statements

Reviewer Comment (2019-05-31): No additional assets have been provided.

Buyer Comment (2019-05-31): Disregard prior comments, please.

Buyer Comment (2019-05-31): At time of closing, borrower's required funds were [REDACTED]  As of [REDACTED] he had [REDACTED] on deposit with [REDACTED] , acct., [REDACTED]  and [REDACTED]  on deposit with [REDACTED]  acct., [REDACTED]  On [REDACTED] the gift funds in the amount of [REDACTED]  were deposited into borrower's [REDACTED]  [REDACTED]  There were two deposits in the amount of [REDACTED]  each as evidenced by gift check [REDACTED] an gift check [REDACTED]  . Total funds available to borrower were [REDACTED] in reserves with a reserve requirement of [REDACTED]

02/11/2019

Primary

Purchase

Non QM

216127623

[REDACTED]

23236676

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Short funds to close, assets listed on 1003 credited [REDACTED]funds twice.

Reviewer Comment (2019-05-31): Most recent bank statement provided in trailing docs for [REDACTED]  reflects funds transfer to title company.

Buyer Comment (2019-05-31): Please see attached statement including highlighted area which clearly shows funds fro closing in the amount of [REDACTED]  ( which matches the CD)  being wired to [REDACTED].

Reviewer Comment (2019-05-31): Neither statement reflects a transfer of funds to a title company, only a gtransfer of [REDACTED]  from one account to the other.

Buyer Comment (2019-05-31): Uploaded For Your Review- Bank statement showing funds transferred to title agent for closing. Final CD shows that borrower's required funds to close were needed [REDACTED]  vs. [REDACTED] notes of [REDACTED]

Reviewer Comment (2019-05-31): No additional assets have been provided.

Buyer Comment (2019-05-31): Final Hud-1 shows required funds from Borrower of [REDACTED]  Please confirm.

Buyer Comment (2019-05-31): At time of closing, borrower's required funds were [REDACTED] . As of [REDACTED] , he had [REDACTED]  on deposit with[REDACTED]  and [REDACTED]  on deposit with [REDACTED]  the gift funds in the amount of [REDACTED]  were deposited into borrower's [REDACTED] . There were two deposits in the amount of [REDACTED]  each as evidenced by gift check [REDACTED]  an gift check [REDACTED] . Total funds available to borrower were [REDACTED] in reserves with a reserve requirement of [REDACTED]

02/11/2019

Primary

Purchase

Non QM

216127623

[REDACTED]

23236677

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: PITIA reserves months discrepancy.

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

Lender approved

Originator

Originator

Originator

Originator

Originator

Reviewer Comment (2019-05-31): [REDACTED] has elected to waive this exception based on compensating factors.

02/26/2019

Primary

Purchase

Non QM

216127642

[REDACTED]

23236893

Credit

Miscellaneous

Guideline

Credit Exception:

Lender acknowledged exception to allow [REDACTED]er who is a [REDACTED] vs. program requirement of family member

Guideline variance approved by lender at time of origination. Mortgage history perfect since inception XXXXXX. No public records

[REDACTED] DTI on this Full documentation loan < [REDACTED] guideline [REDACTED] below program guideline maximum

Borrower is [REDACTED] 7.29 year[REDACTED]XXX

Reserves are [REDACTED] months, [REDACTED] months > program requirement of 6 months

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Reviewer Comment (2019-05-31): [REDACTED] has elected to waive this exception based on compensating factors.

04/25/2019

Primary

Refinance - Cash-out - Other

Non QM

216127642

[REDACTED]

23236895

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 7.14340% or Final Disclosure APR of 7.16700% is in excess of allowable threshold of APOR[REDACTED] + 2.5%, or 7.14000%. Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2019-05-31): [REDACTED] mortgage purchases HPML compliant loans.

04/25/2019

Primary

Refinance - Cash-out - Other

Non QM

216127642

[REDACTED]

23236896

Compliance

Federal Compliance

ATR/QM

[REDACTED] Tax Return Recenc[REDACTED]

Loan closed XXXXX[REDACTED] [REDACTED] Tax Returns The tax returns used were not current based on the closing date. the filing of the extension does not make the stale returns current, it just means the consumer is deferring their filing with the IRS. Specifically the income being used to qualify is not based on recent returns.

Buyer Comment (2019-05-31): [REDACTED] has elected to waive

04/26/2019

Primary

Refinance - Cash-out - Other

Non QM

216127642

[REDACTED]

23236897

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Without Selle[REDACTED]al Closing Costs Exceeds Limits

Not provided, field not shown on CD. No cure provided for transfer tax overage.

Buyer Comment (2019-05-31): [REDACTED] has elected to waive

04/26/2019

Primary

Refinance - Cash-out - Other

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127642

[REDACTED]

23236898

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Transfer Tax. Fee Amount of $[REDACTED] exceeds tolerance of $24,995.00. Insufficient or no cure was provided to the borrower.

Transfer Tax Fee increased to $[REDACTED] without a valid change circumstance. Tolerance exceeded. No evidence cure was provided to borrower.

Reviewer Comment (2019-05-31): Change of circumstance provided - loan amount increase

Buyer Comment (2019-05-31): Proof LE and change of circumstance with increased loan amount and fees sent to borrowers

04/26/2019

Primary

Refinance - Cash-out - Other

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

Non QM

216127643

[REDACTED]

23236886

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Qualifying interest rate discrepancy.

Based on Bas[REDACTED] (amortized over 360 months[REDACTED]IO payment) qualifying P&I used [REDACTED] qualifying rate 8.01[REDACTED]der qualified at Note rate[REDACTED] [REDACTED].

Reviewer Comment (2019-05-31): Corrected qualifying rate.

Buyer Comment (2019-05-31): Based off [REDACTED]. This is a [REDACTED] loan

04/25/2019

Primary

Purchase

Non QM

216127643

[REDACTED]

23236887

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Qualification Method not Matching ATR

Ability to Repay (Do[REDACTED]k 2014): The Qualification Method used by the lender does not match the ATR payment calculation methods under 1026.43(c)(5).

Based on Bas[REDACTED] (amortized over 360 months[REDACTED]IO payment) qualifying P&I used [REDACTED] qualifying rate[REDACTED]

Buyer Comment (2019-05-31): [REDACTED] has elected to waive

04/24/2019

Primary

Purchase

Non QM

216127643

[REDACTED]

23236888

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Closing Date

TI[REDACTED]A Integrated Disclosur[REDACTED]eral Information: Final Closing Disclosure provided on [REDACTED] disclosed a Closing Date that did not match the actual date of consummation.

Final CD reflects a closing date of [REDACTED] yet date of consummation is [REDACTED].

Buyer Comment (2019-05-31): [REDACTED] has elected to waive

04/24/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127643

[REDACTED]

23236889

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Based on Bas[REDACTED] (amortized over 360 months[REDACTED]IO payment) qualifying P&I used [REDACTED] qualifying rate[REDACTED]

Reviewer Comment (2019-05-31): Corrected qualifying rate.

Buyer Comment (2019-05-31): Based off [REDACTED]. This is a [REDACTED] loan

04/25/2019

Primary

Purchase

Non QM

216127643

[REDACTED]

23236890

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Matc[REDACTED] Risk

Ability to Repay (Do[REDACTED]k 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Based on Bas[REDACTED] (amortized over 360 months[REDACTED]IO payment) qualifying P&I used [REDACTED] qualifying rate[REDACTED]

Reviewer Comment (2019-05-31): Corrected qualifying rate.

Buyer Comment (2019-05-31): Based off [REDACTED]. This is a [REDACTED] loan

04/25/2019

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

Non QM

216127643

[REDACTED]

23236891

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor DTI moderately exceeds Guidelines

Ability to Repay (Do[REDACTED]k 2014): The DTI calculated in accordance with the Lenders Guidelines of [REDACTED] moderately exceeds the guideline maximum of [REDACTED]. (DTI Exception is eligible to be regraded with compensating factors.)

Based on Bas[REDACTED] (amortized over 360 months[REDACTED]IO payment) qualifying P&I used [REDACTED] qualifying rate[REDACTED] DTI [REDACTED]

Reviewer Comment (2019-05-31): Corrected qualifying rate.

Buyer Comment (2019-05-31): Based off [REDACTED]. This is a [REDACTED] loan

04/25/2019

Primary

Purchase

Non QM

216127643

[REDACTED]

23236892

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Do[REDACTED]k 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Based on Bas[REDACTED] (amortized over 360 months[REDACTED]IO payment) qualifying P&I used [REDACTED] qualifying rate[REDACTED]

Reviewer Comment (2019-05-31): Corrected qualifying rate.

Buyer Comment (2019-05-31): Based off [REDACTED]. This is a [REDACTED] loan

04/25/2019

Primary

Purchase

Non QM

216127649

[REDACTED]

23237004

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Selle[REDACTED]al Closing Costs Exceeds Limits

Cure on final CD of 34.00 not sufficient to cure overages.

Buyer Comment (2019-05-31): [REDACTED] has elected to waive

05/14/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127649

[REDACTED]

23237005

Compliance

Federal Compliance

TRID

TRID Home Loan Toolkit Provided

Truth in Lending Act (2015): Creditor or broker did not provide Your Home Loan Toolkit Disclosure to applicant.

Missing from file.

Buyer Comment (2019-05-31): [REDACTED] has elected to waive

05/14/2019

Primary

Purchase

No Defined Cure

Non QM

216127649

[REDACTED]

23237006

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]orney's Fee (Closing Agent Only). Fee Amount of $250.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

No cure provided for overage, attorney's fee added without VCC.

Reviewer Comment (2019-05-31): Borrower shopped title fees - no tolerance

Buyer Comment (2019-05-31): The title review fee is also [REDACTED] who is not on our sspl. Therefore shouldn't be held to a tolerance

05/14/2019

Primary

Purchase

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

Non QM

216127649

[REDACTED]

23237007

Compliance

Federal Compliance

ECOA

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

ECOA Valuations Rule (Do[REDACTED]k 2014): Creditor did not provide a copy of each valuation to applicant three (3) [REDACTED] days prior to consummation.

Evidence when preliminary and final reports were provided to borrower missing from file, borrower acknowledged receipt 3 days prior to close.

Reviewer Comment (2019-05-31): [REDACTED] appraisal is only appraisal used for qualifying.

Buyer Comment (2019-05-31): There is only 1 appraisal report obtained for this loan that was delivered to the Borrower within 3 days of consummation with the effective date of [REDACTED]

Reviewer Comment (2019-05-31): Email confirmation is needed for initial appraisal dated [REDACTED]

Reviewer Comment (2019-05-31): Email confirmation of appraisal sent to borrower not provided.

05/21/2019

Primary

Purchase

Non QM

216127649

[REDACTED]

23237008

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 8.44730% or Final Disclosure APR of 8.55400% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 5.71000%. N[REDACTED]liant Higher Priced Mortgage Loan.

Reviewer Comment (2019-05-31): [REDACTED] appraisal is only appraisal used for qualifying.

Reviewer Comment (2019-05-31): Email confirmation is needed for initial appraisal dated [REDACTED]

Reviewer Comment (2019-05-31): Email confirmation of appraisal sent to borrower not provided.

05/21/2019

Primary

Purchase

Non QM

216127649

[REDACTED]

23237009

Compliance

Federal Compliance

Federal HPML

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

TILA HPML Appraisal Rule (Do[REDACTED]k 2014): Creditor did not provide a copy of each valuation to applicant three (3) [REDACTED] days prior to consummation.

Evidence when preliminary and final reports were provided to borrower missing from file, borrower acknowledged receipt 3 days prior to close.

Reviewer Comment (2019-05-31): [REDACTED] appraisal is only appraisal used for qualifying.

Buyer Comment (2019-05-31): There was a single appraiser [REDACTED], only 1 appraisal performed.

Reviewer Comment (2019-05-31): Email confirmation is needed for initial appraisal dated [REDACTED]

Reviewer Comment (2019-05-31): Email confirmation of appraisal sent to borrower not provided.

05/21/2019

Primary

Purchase

Non QM

216127649

[REDACTED]

23237010

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]orney Review Fee. Fee Amount of $350.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

No cure provided for overage, title review fee added without VCC.

Reviewer Comment (2019-05-31): After review of fee entry name - name has been corrected from Title Attorney review feeto Title review fee.

05/10/2019

Primary

Purchase

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

Non QM

216127649

[REDACTED]

23237011

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Title Review Fee. Fee Amount of $350.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

No cure provided for overage, title review fee added without VCC.

05/14/2019

Primary

Purchase

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

Non QM

216127660

[REDACTED]

23237108

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Reviewer Comment (2019-06-03): [REDACTED] Underwriting Decisi[REDACTED]an Approval provided

01/29/2019

Primary

Purchase

Non QM

216127660

[REDACTED]

23237110

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Loan Originator Compensation disclosure not provided.

Reviewer Comment (2019-06-03): Attestation approved by [REDACTED] in file.

01/22/2019

Primary

Purchase

Non QM

216127660

[REDACTED]

23237111

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Closing Date

TI[REDACTED]A Integrated Disclosur[REDACTED]eral Information: Final Closing Disclosure provided on [REDACTED] disclosed a Closing Date that did not match the actual date of consummation. ([REDACTED])

Final CD reflects closing date of [REDACTED]. Loan was consummated on [REDACTED].

Reviewer Comment (2019-06-03): Waive per client.

01/22/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127660

[REDACTED]

23237112

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Selle[REDACTED]al Closing Costs Exceeds Limits

TI[REDACTED]A Integrated Disclosur[REDACTED] Cash to Close: Final Closing Disclosure provided on [REDACTED] disclosed an inaccurate value of the dollar amount by which the Total Closing Costs exceeded the legal limit. ([REDACTED])

Final CD does not reflect an amount by which total closing costs exceeded the legal limit. Calculated amount is $25.00

Reviewer Comment (2019-06-03): Waive per client.

01/22/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127660

[REDACTED]

23237113

Compliance

Federal Compliance

TRID

TRID Seller Closing Disclosure Fees seller paid fees do not match Consumer's Final CD

TI[REDACTED]A Integrated Disclosure: the Seller's final CD total seller paid fee amounts do not match the values used for compliance testing. ([REDACTED])

TRID n[REDACTED]liant. Seller paid fees on Seller CD are not consistent with those on Borrower Final CD. Seller CD reflects $[REDACTED] in seller paid fees. Borrower Final CD reflects $[REDACTED] in seller paid fees.

Reviewer Comment (2019-06-03): Waive per client.

01/22/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127660

[REDACTED]

23237114

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee. Fee Amount of $425.00 exceeds tolerance of $400.00. Insufficient or no cure was provided to the borrower. (7506)

LE reflects appraisal fee of $400. CD reflects appraisal fee of $425. Valid change of circumstance not provided. Cure to borrower not provided.

Reviewer Comment (2019-06-03): Valid COC was in file and allowed for increase.

03/01/2019

Primary

Purchase

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

Non QM

216127660

[REDACTED]

23237115

Credit

Miscellaneous

Guideline

Credit Exception:

An insurance policy was provided for a property located at [REDACTED]. Provide documentation confirming if this property has since been sold. If it is retained, confirm the PITIA to be included in qualification.

Reviewer Comment (2019-06-03): Property profile confirms borrowers have never been had ownership interest in this property address.

Buyer Comment (2019-06-03): this must have been a typo from the insurance agent as you can see the borrowers have never had interest in that property

01/29/2019

Primary

Purchase

Non QM

216127660

[REDACTED]

23237116

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Borrower: [REDACTED]

Missing bank statements to support receipt of $[REDACTED].[REDACTED] in [REDACTED] income for [REDACTED]. Bank stmts provided reflect [REDACTED] deposits of [REDACTED].[REDACTED], however UTD if this is the same [REDACTED] income as noted on 1099.

Reviewer Comment (2019-06-03): [REDACTED] and Lender's response documents [REDACTED] "[REDACTED]" income used to qualify is a combination of [REDACTED] ([REDACTED]) income and [REDACTED] ([REDACTED]) [REDACTED] income. PERS 1099 and Bank Statement support PERS [REDACTED] income. EV3 added for missing [REDACTED]and recent 1099s for [REDACTED] income ([REDACTED]).

Reviewer Comment (2019-06-03): .

Reviewer Comment (2019-06-03): [REDACTED] indicates [REDACTED] and [REDACTED]PERS deposits supporting [REDACTED] total PERS monthly income

Buyer Comment (2019-06-03): she gets 2 deposits one from [REDACTED] one for [REDACTED] and the other from [REDACTED] for [REDACTED]

01/29/2019

Primary

Purchase

Non QM

216127660

[REDACTED]

23237117

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Missing [REDACTED] and recent 1099s for [REDACTED] [REDACTED] income ([REDACTED].50). [REDACTED] (D0216) and Lender's response documents $[REDACTED] "[REDACTED]" income used to qualify is a combination of [REDACTED] [REDACTED] income and [REDACTED] ($[REDACTED]) [REDACTED] income.

Reviewer Comment (2019-06-03): Removed from qualifying income as lender did not use this in original income calculations and not needed to qualify.

03/01/2019

Primary

Purchase

Non QM

216127662

[REDACTED]

23237142

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

DTI can go to 55% with exception. However, exception approval was not provided.

[REDACTED] reserves > 66 months guideline minimu[REDACTED]rowers have verified reserves of $[REDACTED]

Ownership of subject property of [REDACTED] or greater with no late payments.

Aggregator

Aggregator

Reviewer Comment (2019-06-03): Lender provided exception with compensating factors.

Reviewer Comment (2019-06-03): Need to add compensating factors.

Reviewer Comment (2019-06-03): Exception provided for over [REDACTED] DTI and [REDACTED] less than [REDACTED].

05/07/2019

Primary

Purchase

Non QM

216127662

[REDACTED]

23237143

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

A copy of approval is not in file.

Reviewer Comment (2019-06-03): Approval provided.

01/18/2019

Primary

Purchase

Non QM

216127662

[REDACTED]

23237145

Credit

Credit Documentation

Credit

No evidence of fraud report in file

Credit Report: Origina[REDACTED]Borrower: [REDACTED]

Fraud report is not in file.

Reviewer Comment (2019-06-03): Fraud report provided.

01/25/2019

Primary

Purchase

Non QM

216127662

[REDACTED]

23237146

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Matc[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

DTI exceeds maximum allowed without an approved exception. Additionally, an exception approval was not provided for less than [REDACTED]s [REDACTED] in same line of work.

Reviewer Comment (2019-06-03): Added compensating factors.

Reviewer Comment (2019-06-03): Need to add compensating factors.

Reviewer Comment (2019-06-03): Ok to waive per client.

Reviewer Comment (2019-06-03): The loan continues to show as ATR fail as the income used for qualifying was off the borrower prepared [REDACTED] with no other income source provided. This [REDACTED] will need to be either audited or 3rd party reviewed in order to be used for income.

05/07/2019

Primary

Purchase

Lender to provide updated ATR/QM status

Non QM

216127662

[REDACTED]

23237148

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Do[REDACTED]k 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

DTI is exceeds maximum allowable and Borrower [REDACTED] less than [REDACTED]s. Exception approval is missing.

Reviewer Comment (2019-06-03): Exception provided for DTI exceeding [REDACTED] and [REDACTED] less than [REDACTED].

01/25/2019

Primary

Purchase

Non QM

216127662

[REDACTED]

23237150

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Closing Date

TI[REDACTED]A Integrated Disclosur[REDACTED]eral Information: Final Closing Disclosure provided on [REDACTED] disclosed a Closing Date that did not match the actual date of consummation. ([REDACTED])

Final CD closing date was [REDACTED]. Documents were signed at [REDACTED]

Buyer Comment (2019-06-03): AZ loan documents are not date sensitive

01/18/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127662

[REDACTED]

23237152

Compliance

Federal Compliance

ATR/QM

[REDACTED] Tax Return Recenc[REDACTED]

Borrower was not SE the entire year.

Reviewer Comment (2019-06-03): Lender provided exception with compensating factors.

05/07/2019

Primary

Purchase

Non QM

216127666

[REDACTED]

23237186

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Reviewer Comment (2019-06-03): document provided

02/28/2019

Primary

Purchase

Non QM

216127666

[REDACTED]

23237187

Property

Property - Appraisal

Appraisal Reconciliation

Property - Appraisal

Missing secondary valuation product required for securitization.

Client will order secondary valuation at time of securitization.

Reviewer Comment (2019-06-03): Desk review provided.

Buyer Comment (2019-06-03): this is in the file

01/18/2019

Primary

Purchase

Non QM

216127666

[REDACTED]

23237189

Compliance

Federal Compliance

TRID

TRID Seller Closing Disclosure

TI[REDACTED]A Integrated Disclosure: Seller Closing Disclosure not located in the file. ([REDACTED])

Reviewer Comment (2019-06-03): Waive per client.

01/18/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127666

[REDACTED]

23237190

Compliance

Federal Compliance

RESPA

RESPA - Initial Escrow Account statement Inaccurate

RESPA: Initial escrow account statement does not match charges on HUD[REDACTED]nal Closing Disclosure.

Initial Escrow Account Disclosure amount $[REDACTED] < $[REDACTED] sum of escrow fees at closing. Post Closing CD dated[REDACTE[REDACTED] reflects adjusted impounds and reflecting $[REDACTED] sum of escrow fees.

Reviewer Comment (2019-06-03): Waive per client.

01/18/2019

Primary

Purchase

Non QM

216127666

[REDACTED]

23237191

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Seller Chang[REDACTED]osit

TI[REDACTED]A Integrated Disclosur[REDACTED]culating Cash to Close: Final Closing Disclosure provided on [REDACTED] incorrectly disclosed whether there was a change in the Deposit. ([REDACTED])

Rounding. Closing Disclosure Loan Estimate Deposit Amoun[REDACTED. Closing Disclosure Final Deposit Amoun[REDACTED].

Reviewer Comment (2019-06-03): Waive per client.

01/18/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127666

[REDACTED]

23237192

Compliance

Federal Compliance

TRID Defect

TRID Initial Closing Disclosure Timing without Waiver

TI[REDACTED]A Integrated Disclosure: Closing Disclosure not provided to Borrower(s) at least three (3) [REDACTED] days prior to closing. (Initi[REDACTE[REDACTED]ACTED]18)

Initial Closing Disclosure dated [REDACTED] received [REDACTED] > [REDACTED] ([REDACTED] closing date less 6)

Reviewer Comment (2019-06-03): [REDACTED] reviewed [REDACTED] CD received the same day. Exception Cleared.

Buyer Comment (2019-06-03): this is signed the date that it was sent

02/28/2019

Primary

Purchase

No Defined Cure

Non QM

216127666

[REDACTED]

23237193

Compliance

Federal Compliance

TRID Defect

TRID Revised Loan Estimate Timing Before Closing

TI[REDACTED]A Integrated Disclosure: Revised Loan Estimate provided on [REDACTED] not received by borrower at least four (4) [REDACTED] days prior to closing. ([REDACTED])

Revised Loan Estimate dated [REDACTED] received [REDACTED] > [REDACTED] ([REDACTED] closing date less 3)

Reviewer Comment (2019-06-03): [REDACTED] reviewed [REDACTED] LE received the same day. Exception Cleared.

Buyer Comment (2019-06-03): this was signed the day it was sent

02/28/2019

Primary

Purchase

No Defined Cure

Non QM

216127666

[REDACTED]

23237194

Compliance

Federal Compliance

ATR/QM

[REDACTED] Tax Return Recenc[REDACTED]

Missing [REDACTED][REDACTED]r [REDACTED]

Reviewer Comment (2019-06-03): Waive per client.

01/18/2019

Primary

Purchase

Non QM

216127666

[REDACTED]

23237195

Compliance

Federal Compliance

Missing Non-Required Data

(Missing Data) Last Rate Set Date

Last Date Rate Set was not provided. In order to determine Average Prime Offer Rate (APOR), the worst case scenario was used between Application Date and Transaction Date.

Missing Rate Lock

Reviewer Comment (2019-06-03): Waive per client.

01/18/2019

Primary

Purchase

Non QM

216127666

[REDACTED]

23237196

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Borrower: [REDACTED]

Missing [REDACTED][REDACTED]r [REDACTED]

Reviewer Comment (2019-06-03): [REDACTED] [REDACTED] provided

Buyer Comment (2019-06-03): this was in the file

02/28/2019

Primary

Purchase

Non QM

216127666

[REDACTED]

23237197

Credit

Credit Documentation

Credit

No evidence of fraud report in file

Credit Report: Origina[REDACTED]Borrower: [REDACTED], Credit Report: Origina[REDACTED]Borrower: [REDACTED]

Reviewer Comment (2019-06-03): document provided

02/28/2019

Primary

Purchase

Non QM

216127671

[REDACTED]

23237267

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Reviewer Comment (2019-06-03): Approval provided.

04/03/2019

Investment

Refinance - Cash-out - Home Improvement

N/A

216127671

[REDACTED]

23237268

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Reviewer Comment (2019-06-03): Fraud guard provided and is acceptable.

04/03/2019

Investment

Refinance - Cash-out - Home Improvement

N/A

216127671

[REDACTED]

23237269

Compliance

Federal Compliance

GSE

FNMA Points and Fees

FNMA Points and Fees on subject loan of 5.00296% is in excess of the allowable maximum of the greater of 5.00000% of the Original Loan Amount and $1000.00 ([REDACTED]). FNMA Finance Charge total $18,561.00 on a Original Loan Amount of $[REDACTED] vs. an allowable total of $[REDACTED] and $1000.00 ([REDACTED]) (an overage of $11.00 or .00296%).

Reviewer Comment (2019-06-03): Provided compliance run.

Buyer Comment (2019-06-03): this was in the file that shows pass on a;;

04/03/2019

Investment

Refinance - Cash-out - Home Improvement

N/A

216127671

[REDACTED]

23237270

Credit

Data Verification

General

Data Verification

The Investor's qualifying total debt ratio is less than the QM qualifying total debt ratio.

Investor's qualifying DTI: ___
QM qualifying DTI: ___

Investor is qualifying on the greater of the note rate and fully indexed rate, which in this case is the note rate. QM qualifying is based on 2% higher than the note rate.

Buyer Comment (2019-06-03): borrower was qualified off rate of [REDACTED] with DTI of [REDACTED] which is over the [REDACTED] for QM

04/02/2019

Investment

Refinance - Cash-out - Home Improvement

N/A

216127671

[REDACTED]

23237271

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Not Provided at or Before Closing (3-Day Waiver In File)

Buyer Comment (2019-06-03): Appraisal Acknowledgement Form states the borrower has received the appraisal and this is dated [REDACTED] closing took place [REDACTED] all is acceptable

04/02/2019

Investment

Refinance - Cash-out - Home Improvement

N/A

216127673

[REDACTED]

23237280

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Hazard insurance coverage of $[REDACTED] is insufficient to cover the estimated cost new of $[REDACTED] reported on the appraisal; $[REDACTED] shortage.

Reviewer Comment (2019-06-03): Agent provided cost estimator.

04/05/2019

Investment

Refinance - Cash-out - Other

N/A

216127673

[REDACTED]

23237281

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Reviewer Comment (2019-06-03): Approval provided.

04/03/2019

Investment

Refinance - Cash-out - Other

N/A

216127673

[REDACTED]

23237283

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Reviewer Comment (2019-06-03): Fraud guard provided and is acceptable.

04/03/2019

Investment

Refinance - Cash-out - Other

N/A

216127673

[REDACTED]

23237285

Credit

Data Verification

General

Data Verification

The Investor's qualifying total debt ratio is less than the QM qualifying total debt ratio.

Investor's qualifying DTI: ___
QM qualifying DTI: ___

This is due to the difference in the primary residence expense reflected on the final loan application of $[REDACTED], as compared to the verified expense of $[REDACTED]. The qualifying total debt ratio is still below the maximum of 50%.

Buyer Comment (2019-06-03): with primary payment at [REDACTED] borrower's DTI is still under [REDACTED] and acceptable

04/02/2019

Investment

Refinance - Cash-out - Other

N/A

216127677

[REDACTED]

23237298

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

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

Qualifying monthly income from [REDACTED] bank statements was used for income verification per guides. Calculated income $[REDACTED] did not equal UW disclosed income $[REDACTED] monthly. This income appears to be an average of the income noted on the borrower's contact, which was effective [REDACTED]18.

$[REDACTED] residual income

Originator

Reviewer Comment (2019-06-03): Rec'd exception for DTI.

Buyer Comment (2019-06-03): exception attached

05/21/2019

Primary

Refinance - Rate/Term

Non QM

216127677

[REDACTED]

23237300

Credit

Asset

Asset Documentation

Asset

Guideline Issue:Insufficient asset documentation.

Financial Institution: XXXXX[REDACTED]nd Date: XXXXX[REDACTED]Account Type: XXXXX[REDACTED]ccount Number: [REDACTED]

Monthly statement provided ending [REDACTED], Gap from statement ending date to account update [REDACTED]

Reviewer Comment (2019-06-03): funds not required for closing a[REDACTED] reserves

Buyer Comment (2019-06-03): [REDACTED]

05/21/2019

Primary

Refinance - Rate/Term

Non QM

216127677

[REDACTED]

23237301

Credit

Credit Eligibility

Guideline

Public Record Issue:

Credit Report: Origina[REDACTED]Public Record Type: Collection[REDACTED]: [REDACTED], Credit Report: Origina[REDACTED]Public Record Type: Collection[REDACTED]: [REDACTED]

All charge-off, repossessions, collections, judgments, and liens must be paid off or satisfied in writing by the Borrower. Per guidelines anything [REDACTED] or more needs to be paid in full.

Reviewer Comment (2019-06-03): Okay to waive per client.

04/26/2019

Primary

Refinance - Rate/Term

Non QM

216127677

[REDACTED]

23237302

Credit

Credit Eligibility

Guideline

Public Record Issue:

Credit Report: Origina[REDACTED]Public Record Type: Collection[REDACTED]: [REDACTED]

All charge-off, repossessions, collections, judgments, and liens must be paid off or satisfied in writing by the Borrower. Proof was not provided.

Reviewer Comment (2019-06-03): Okay to waive per client.

04/26/2019

Primary

Refinance - Rate/Term

Non QM

216127677

[REDACTED]

23237303

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Matc[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Exception firing due to DTI not meeting guidelines.

Reviewer Comment (2019-06-03): Underlying doc exceptions have been cleared, diligence designation is Non-QM

Reviewer Comment (2019-06-03): Ok to waive per client.

06/03/2019

Primary

Refinance - Rate/Term

Lender to provide updated ATR/QM status

Non QM

216127677

[REDACTED]

23237304

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Do[REDACTED]k 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

DTI exceed program limit 50%

Reviewer Comment (2019-06-03): Rec'd DTI exception.

Buyer Comment (2019-06-03): exception attached

05/21/2019

Primary

Refinance - Rate/Term

Non QM

216127677

[REDACTED]

23237305

Compliance

Federal Compliance

ATR/QM Defect

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

Ability to Repay (Do[REDACTED]k 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 51.78547% moderately exceeds the guideline maximum of [REDACTED]. (DTI Exception is eligible to be regraded with compensating factors.)

DTI exceed program limit 50%

$[REDACTED] residual income

Originator

Reviewer Comment (2019-06-03): Rec'd exception for DTI.

Buyer Comment (2019-06-03): exception attached

05/21/2019

Primary

Refinance - Rate/Term

Non QM

216127677

[REDACTED]

23237306

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Abili[REDACTED]epay (Do[REDACTED]k 2014): General Abili[REDACTED]epay requirements not satisfied.

DTI exceed program limit 50%

Reviewer Comment (2019-06-03): Rec'd license and exception for DTI > [REDACTED]

05/21/2019

Primary

Refinance - Rate/Term

Non QM

216127677

[REDACTED]

23237307

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Assumption

TI[REDACTED]A Integrated Disclosur[REDACTED]n Disclosures: Final Closing Disclosure provided on [REDACTED] incorrectly disclosed whether the loan allows for Assumption. ([REDACTED])

Note contains assumption language and Final CD disclosed not assumable. There is no documentation in the file showing the loan is not assumable.

Reviewer Comment (2019-06-03): Okay to waive per client.

04/26/2019

Primary

Refinance - Rate/Term

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127677

[REDACTED]

23237308

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Closing Date

TI[REDACTED]A Integrated Disclosur[REDACTED]eral Information: Final Closing Disclosure provided on [REDACTED] disclosed a Closing Date that did not match the actual date of consummation. ([REDACTED])

Note is dated [REDACTED]. Consummation date [REDACTED].

Buyer Comment (2019-06-03): [REDACTED] closing documents are not date sensitive therefore it's ok if the borrower doesn't sign the date they're generated.

Regulation Z defines consummation as: "the time that a consumer becomes contractually obligated on a credit transaction. See 12 CFR 1026.2(a)(13). The Commentary to Regulation Z states further that the point at which a "contractual obligation … is created" is a matter of state law. 12 CFR 1026.2(a)(13)-2. In [REDACTED], consummation occurs when the borrower signs the loan documents.

Reviewer Comment (2019-06-03): The commentary is not relevant to this exception. Still missing CD with correct consummation date.

Buyer Comment (2019-06-03): pages from appraisal and appraisal review noting reason listings not provided

Buyer Comment (2019-06-03): Appraisal page 3 of 6 states "the land value is by extraction and deemed appropriate since there are no recent vacant land sales in the subjects immediate market area. The subjects site value is typical for this market area.

the appraisal review also notes on page 3 that the appraisal provides 3 property comparisons, but no listing due to lack of similar sized homes in the market

Buyer Comment (2019-06-03): final settlement statement

Reviewer Comment (2019-06-03): [REDACTED] received PCCD however the close date is not corrected. The date of consummation per security instrument is [REDACTED]]. Please provide corrected CD and LOE to cure.

05/21/2019

Primary

Refinance - Rate/Term

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127677

[REDACTED]

23237309

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Fee Acronyms or Abbreviations

TI[REDACTED]A Integrated Disclosure: Final Closing Disclosure provided on [REDACTED] used abbreviated fees or fees listed as an acronym that are not reasonably understood by the consumer. ([REDACTED])

Final CD reflects a the charge for the closing protection fee as Tit[REDACTED]fee

Reviewer Comment (2019-06-03): Okay to waive per client.

04/26/2019

Primary

Refinance - Rate/Term

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127677

[REDACTED]

23237310

Compliance

Federal Compliance

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

TILA Rescission - Disbursement Date Less than 3 Business Days From Transaction Date

Truth in Lending Act: Subject loan transaction disbursed on [REDACTED], prior to three (3) [REDACTED] days from transaction date of [REDACTED]

Expected disbursement is [REDACTED].

Reviewer Comment (2019-06-03): Rec'd final CD and LOE to the borrower. Loan disbursed [REDACTED].

Buyer Comment (2019-06-03): loan disbursed on the [REDACTED]

05/21/2019

Primary

Refinance - Rate/Term

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

Non QM

216127677

[REDACTED]

23237311

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employmen[REDACTED]k Statements

Abili[REDACTED]epay (Do[REDACTED]k 2014): Unable to verify current employment status using reasonably reliable thi[REDACTED]y records. ([REDACTED])

Income and employment verified using bank statements.

Reviewer Comment (2019-06-03): Rec'd license

Buyer Comment (2019-06-03): [REDACTED] attached

05/21/2019

Primary

Refinance - Rate/Term

Non QM

216127677

[REDACTED]

23237312

Credit

Miscellaneous

Guideline

Credit Exception:

Per guidelines, the appraiser must provided two pending sales or current listings which were not noted. Additionally it is noted the borrower is newly [REDACTED], operating in the same line of work, however an exception was not noted in file.

$[REDACTED] residual income

Originator

Reviewer Comment (2019-06-03): Rec'd exception for missing pending sale[REDACTED]istings.

05/21/2019

Primary

Refinance - Rate/Term

Non QM

216127677

[REDACTED]

23237313

Credit

Guideline

Guideline Issue

Guideline

Aged document: Primary Valuation is older than guidelines permit

Valuation Type: Appraisa[REDACTED]aluation Report Date: [REDACTED] ___

Appraisal is greater than 90 days old at the time of closing

Reviewer Comment (2019-06-03): Guidelines allow [REDACTED].

Buyer Comment (2019-06-03): appraisal expires after [REDACTED].

05/21/2019

Primary

Refinance - Rate/Term

Non QM

216127677

[REDACTED]

23237314

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Matc[REDACTED] Risk

Ability to Repay (Do[REDACTED]k 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

N[REDACTED]

Reviewer Comment (2019-06-03): Non QM

05/21/2019

Primary

Refinance - Rate/Term

Lender to provide updated ATR/QM Loan Designation

Non QM

216127677

[REDACTED]

23237315

Compliance

Federal Compliance

ATR/QM Defect

QM Originator Loan Designation Info Not Provided

Qualified Mortgage (Do[REDACTED]k 2014): Originator Loan Designation not provided.

Non QM

Reviewer Comment (2019-06-03): Non QM

05/21/2019

Primary

Refinance - Rate/Term

Non QM

216127682

[REDACTED]

23237336

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

Missing 1 month Bank Statement (either ending in [REDACTED] or ending in [REDACTED]). Currently the file has [REDACTED] and it needs a total of 24 months Bank Statements for the income calculations.

[REDACTED] representative FICO score >[REDACTED] guideline minimum.

[REDACTED] LTV < [REDACTED] guideline max.

Originator

Originator

Reviewer Comment (2019-06-03): Rec'd exception for use of partial bank statement.

Reviewer Comment (2019-06-03): Rec'd pages 1, 3, 5, 7 of the [REDACTED]16 statement. Missing pages 2, 4, 6.

05/28/2019

Primary

Refinance - Cash-out - Other

Non QM

216127683

[REDACTED]

23237339

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Reviewer Comment (2019-06-03): Rec'd fraud report.

05/20/2019

Primary

Purchase

Non QM

216127683

[REDACTED]

23237340

Credit

Credit Documentation

Credit

No evidence of fraud report in file

The fraud report is missing from the loan file.

Reviewer Comment (2019-06-03): Rec'd fraud report

05/20/2019

Primary

Purchase

Non QM

216127683

[REDACTED]

23237342

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

The bank statement for the month of [REDACTED] [REDACTED] is missing from loan file.

Reviewer Comment (2019-06-03): Rec'd [REDACTED] statement.

05/20/2019

Primary

Purchase

Non QM

216127686

[REDACTED]

23237360

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Assumption

TI[REDACTED]A Integrated Disclosur[REDACTED]n Disclosures: Final Closing Disclosure provided on [REDACTED] incorrectly disclosed whether the loan allows for Assumption.

Final Closing Disclosure disclosed the lender will not allow the loan to be Assumed however, the Note contains an Assumption Clause.

Reviewer Comment (2019-06-03): Waive per client request.

05/11/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127687

[REDACTED]

23237363

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___

File is missing insurance verifications for these rental properties and statements verify taxes and insurance payments were not escrowed. Upon receipt of the missing insurance verifications, additional conditions may apply.

Reviewer Comment (2019-06-03): Rec'd verification of PITIA for all REO.

Buyer Comment (2019-06-03): eoi and mortgage statements for all requested. [REDACTED] no mortgage holder

05/28/2019

Investment

Purchase

N/A

216127692

[REDACTED]

23237371

Credit

Income / Employment

Income Documentation

Missing Document

REO Documents are missing.

- ___
___

File is missing insurance verifications for these rental properties along with mortgage statements for the properties at

Reviewer Comment (2019-06-07): Rec'd evidence of PITIA for all REO.

Reviewer Comment (2019-06-07): Updated commentary: Missing hazard insurance for all properties mentioned above. Missing evidence both properties on [REDACTED] are owned F & C (property history report shows mortgages).

05/29/2019

Investment

Purchase

N/A

216127692

[REDACTED]

23237372

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Borrowers were qualified with a DTI of [REDACTED] which increased to [REDACTED] due to file is missing lease agreements for several of the borrowers rental properties. Upon receipt of the missing lease agreements, additional conditions may apply.

Reviewer Comment (2019-06-07): [REDACTED] was purchased after the subject transaction; PITIA should not be included in DTI.

05/13/2019

Investment

Purchase

N/A

216127692

[REDACTED]

23237373

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

Borrower was qualified with [REDACTED] income however, file is missing the [REDACTED] to verify the amount and continuance. Upon receipt of the missing [REDACTED], additional conditions may apply.

Reviewer Comment (2019-06-07): Rec'd bank statement reflecting [REDACTED] deposit.

Buyer Comment (2019-06-07): [REDACTED] [REDACTED] deposit and account

Reviewer Comment (2019-06-07): Rec'd [REDACTED]for [REDACTED]. Missing [REDACTED] [REDACTED].

06/04/2019

Investment

Purchase

N/A

216127697

[REDACTED]

23237464

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Borrower: [REDACTED], Borrower: [REDACTED]

Per approval VOE must be ordered within 5 days prior to closing however VVOE's are missing from file.

Reviewer Comment (2019-06-07): Settlement statement in file.

Buyer Comment (2019-06-07): the loan didnt fund until the 18th - see attached

Reviewer Comment (2019-06-07): Loan closed on[REDACTED]VVOE's are dated[REDACTED]]

Buyer Comment (2019-06-07): these were in the file

04/26/2019

Primary

Refinance - Cash-out - Other

Non QM

216127697

[REDACTED]

23237465

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

The LO Compensation disclosure was not provided in file.

Buyer Comment (2019-06-07): We have provided our broker agreement which shows that all transactions are based on a set compensation and not subject to terms of the transaction

01/12/2019

Primary

Refinance - Cash-out - Other

Non QM

216127697

[REDACTED]

23237466

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Matc[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

ATR fail due to missing VVOE for B1 second job within 90 days of Note date.

Reviewer Comment (2019-06-07): Using two recent paystubs to document borrower works approx. [REDACTED] per week on average. Defaulted to lender's more conservative figure of [REDACTED] per week. DTI < [REDACTED].

Buyer Comment (2019-06-07): exception

Buyer Comment (2019-06-07): lender voe [REDACTED]. dated[REDACTED], done for closing

Buyer Comment (2019-06-07): [REDACTED] (2nd job) paystubs and voe attached.

$[REDACTED] per hour, start date[REDACTED]

Reviewer Comment (2019-06-07): Updated comments[REDACTED]19: Need lender exception allowing use of 2nd job income with < [REDACTED] history. Also need verification of employment from 2nd job at [REDACTED]to verify average hours worked per week in order to calculate 2nd job income. Please note, per conversation with [REDACTED] on[REDACTED]]confirmed 2nd job is with [REDACTED]. Rec'd clarification of borrower's employment history. He does not have a [REDACTED] history of part time employment, therefore updated income, creating DTI issues. The file contains page 1 of a WVOE ([REDACTED]), but unable to determine if the WVOE was prepared by the employer or the lender. Unable to determine average hours per week for part-time income. Will need exception to allow use of 2nd job income.

Buyer Comment (2019-06-07): 2nd job is with [REDACTED], please disregard last comment.

Buyer Comment (2019-06-07): per loe in file borrowers 2nd job is with [REDACTED]

Reviewer Comment (2019-06-07): Unable to waive.

Reviewer Comment (2019-06-07): Ok to waive per client.

06/03/2019

Primary

Refinance - Cash-out - Other

Lender to provide updated ATR/QM status

Non QM

216127697

[REDACTED]

23237467

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employmen[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Unable to verify current Wag[REDACTED]2 employment status using reasonably reliable thi[REDACTED]y records. ([REDACTED])

The Work Number provided in file for B1 second job is >90 days from Note date, an updated VVOE was not provided in file as required by ATR guidelines.

Reviewer Comment (2019-06-07): Rec'd updated employment info.  See additional exceptions regarding borrower's part-time employment.

Reviewer Comment (2019-06-07): Per the documentation provided in the file, the borrower's primary job is at[REDACTED]which has been fully verified. Borrower was also qualified with income from a second job of $[REDACTED]. The second job was only verified with a [REDACTED] dated [REDACTED]that reflects the employer as [REDACTED]. File is missing the guideline required current paystub and most recent W-2 for [REDACTED]. This was also required by the lender's approval conditions #32 and 36. A  current paystub, most recent W-2 and [REDACTED] VVOE dated within 5 days of closing for [REDACTED] are required to clear this exception.

Buyer Comment (2019-06-07): B1 works at 2 jobs one is the [REDACTED] and one is at the [REDACTED] - see attached VVOE's - they are located right next door to each other but are not the same employer

Reviewer Comment (2019-06-07): Borrower was qualified with income from a 2nd job at [REDACTED]which was verified with [REDACTED] dated [REDACTED]and. As of [REDACTED]], still have not received the most recent [REDACTED] paystub and  [REDACTED] as required by [REDACTED] Full Doc guidelines.

05/15/2019

Primary

Refinance - Cash-out - Other

Non QM

216127697

[REDACTED]

23237468

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Abili[REDACTED]epay (Do[REDACTED]k 2014): General Abili[REDACTED]epay requirements not satisfied.

Missing VVOE for B1 second job within 90 days of Note date.

Reviewer Comment (2019-06-07): Rec'd VVOE

Reviewer Comment (2019-06-07): VVOE in file. Unable to use 2nd job income.

05/23/2019

Primary

Refinance - Cash-out - Other

Non QM

216127697

[REDACTED]

23237469

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

AUS Findings: All conditions were not met

Borrower most recent year[REDACTED] for employment as required by guidelines.

Reviewer Comment (2019-06-07): document provided

03/01/2019

Primary

Refinance - Cash-out - Other

Non QM

216127697

[REDACTED]

23237470

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Assumption

TI[REDACTED]A Integrated Disclosur[REDACTED]n Disclosures: Final Closing Disclosure provided on [REDACTED] incorrectly disclosed whether the loan allows for Assumption. ([REDACTED])

The Final CD reflects loan is not assumable however the Note reflects assumable language.

Buyer Comment (2019-06-07): This was a system glitch and has now been fixed

01/12/2019

Primary

Refinance - Cash-out - Other

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127697

[REDACTED]

23237471

Compliance

Federal Compliance

ATR/QM Defect

Income Data was not provided

Income Source and Qualifying Monthly Income Amount are required.

Reviewer Comment (2019-06-07): Using 2 paystubs in file results in average hours per week of [REDACTED].  Used lender's more conservative figure of [REDACTED] per week.

Buyer Comment (2019-06-07): please see uploads

Reviewer Comment (2019-06-07): Updated comments[REDACTED]:  Need lender exception allowing use of 2nd job income with < [REDACTED] history.  Also need verification of employment from 2nd job at [REDACTED] to verify average hours worked per week in order to calculate 2nd job income.  Please note, per conversation with [REDACTED] on[REDACTED]]confirmed 2nd job is with [REDACTED].    Rec'd clarification of borrower's employment history.  He does not have a [REDACTED] history of part time employment, therefore updated income, creating DTI issues.  The file contains page 1  of a WVOE ([REDACTED]), but unable to determine if the WVOE was prepared by the employer or the lender.  Unable to determine average hours per week for part-time income.   Will need exception to allow use of 2nd job income.

Buyer Comment (2019-06-07): documentation  provided.  [REDACTED] is owned by [REDACTED]

Reviewer Comment (2019-06-07): Unable to determine average [REDACTED].  Unable to use 2nd job income, < [REDACTED] history.

06/03/2019

Primary

Refinance - Cash-out - Other

Non QM

216127697

[REDACTED]

23237472

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Employmen[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Unable to verify current Wag[REDACTED]2 employment status using reasonably reliable thi[REDACTED]y records.

Missing WVOE reflecting average hours per week for borrower's pa[REDACTED] job.

Reviewer Comment (2019-06-07): Rec'd VVOE

05/23/2019

Primary

Refinance - Cash-out - Other

Non QM

216127697

[REDACTED]

23237473

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Unable to use borrower's pa[REDACTED] income, missing two year history of a 2nd job.

06/03/2019

Primary

Refinance - Cash-out - Other

Non QM

216127697

[REDACTED]

23237474

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Missing WVOE from borrower's part time job, including average hours worked per week.

Reviewer Comment (2019-06-07): Using two recent paystubs to document borrower works approx. [REDACTED] per week on average. Defaulted to lender's more conservative figure of [REDACTED] per week. DTI < [REDACTED].

Buyer Comment (2019-06-07): please see uploads.

Reviewer Comment (2019-06-07): Updated comments[REDACTED]: Need lender exception allowing use of 2nd job income with < [REDACTED] history. Also need verification of employment from 2nd job at [REDACTED]to verify average hours worked per week in order to calculate 2nd job income. Please note, per conversation with [REDACTED]on[REDACTED]]confirmed 2nd job is with [REDACTED]. Rec'd clarification of borrower's employment history. He does not have a [REDACTED] history of part time employment, therefore updated income, creating DTI issues. The file contains page 1 of a WVOE ([REDACTED]), but unable to determine if the WVOE was prepared by the employer or the lender. Unable to determine average hours per week for part-time income. Will need exception to allow use of 2nd job income.

Reviewer Comment (2019-06-07): Rec'd VVOE. Missing WVOE from borrower's part time job, including average hours worked per week.

Buyer Comment (2019-06-07): voe for[REDACTED] uploaded

06/03/2019

Primary

Refinance - Cash-out - Other

Non QM

216127697

[REDACTED]

23237475

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Do[REDACTED]k 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Unable to include 2nd job income.

06/03/2019

Primary

Refinance - Cash-out - Other

Non QM

216127700

[REDACTED]

23237476

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Estimated cos[REDACTED] is [REDACTED] Coverage of $[REDACTED] is insufficient. Insurance coverage should be in the lesser of 100% of the insurable value (replacement cost estimate needs to be provided) or the unpaid balance of the mortgage, as long as it equals 80% of the insurable value of the improvements.

Borrower has a disposable income of $[REDACTED].

[REDACTED] LTV < [REDACTED] guideline max.

Originator

Originator

Reviewer Comment (2019-06-07): Rec'd exception for insufficient hazard insurance coverage.

Reviewer Comment (2019-06-07): Estimated cost - new is $[REDACTED] x [REDACTED] = $[REDACTED] Coverage of $[REDACTED] is insufficient. Insurance coverage should be in the lesser of [REDACTED] of the insurable value (replacement cost estimate needs to be provided) or the unpaid balance of the mortgage, as long as it equals [REDACTED] of the insurable value of the improvements.

Buyer Comment (2019-06-07): loan amount is $[REDACTED]. policy has coverage of $[REDACTED] + additional structures $[REDACTED]=$[REDACTED]

Reviewer Comment (2019-06-07): As of [REDACTED]], still have not received the a revised policy with coverage to match the loan amount, or insurance company replacement cost estimator to verify that the amount of coverage is sufficient.

Reviewer Comment (2019-06-07): Hazard insurance amount of $[REDACTED] is not enough to cover the loan amount of $[REDACTED] or appraisal replacement cost of $[REDACTED]. As of [REDACTED]], still have not received the insurance company replacement cost estimator to verify that the amount of coverage is sufficient.

06/03/2019

Investment

Refinance - Rate/Term

N/A

216127700

[REDACTED]

23237478

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Fraud Report not provided

Not provided in file.

Reviewer Comment (2019-06-07): Received the full Fraud Report with all red flags addressed.

Buyer Comment (2019-06-07): see attached

Reviewer Comment (2019-06-07): As of [REDACTED]], still have not received the borrower's required Fraud Report.

04/26/2019

Investment

Refinance - Rate/Term

N/A

216127700

[REDACTED]

23237480

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Reviewer Comment (2019-06-07): Received lender's approval.

Buyer Comment (2019-06-07): approval

04/22/2019

Investment

Refinance - Rate/Term

N/A

216127700

[REDACTED]

23237481

Credit

Miscellaneous

Guideline

Credit Exception:

Missing credit refres[REDACTED]ap report dated within [REDACTED] days prior to closing.

Reviewer Comment (2019-06-07): Received credit report comparison.

Buyer Comment (2019-06-07): GAP credit attached

04/22/2019

Investment

Refinance - Rate/Term

N/A

216127710

[REDACTED]

23237570

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Title Error: Title vesting does not concur with deed

Title vesting reflects [REDACTED] yet the Security Instrument shows [REDACTED] without a grant deed changing the borrower's name.

Reviewer Comment (2019-06-14): Corrected Title commitment provided

Reviewer Comment (2019-06-14): Upload is still not legible. Entire document is blacked out.

Reviewer Comment (2019-06-14): Title commitment provided in trailing docs is not legible.

05/31/2019

Primary

Refinance - Cash-out - Other

Non QM

216127710

[REDACTED]

23237572

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 7.78030% or Final Disclosure APR of 7.82500% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 6.20000%. Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2019-06-14): [REDACTED] mortgage purchases HPML compliant loans.

05/29/2019

Primary

Refinance - Cash-out - Other

Non QM

216127710

[REDACTED]

23237573

Compliance

State Compliance

Misc. State Level

[REDACTED] CMPA Home Loan Toolkit Status

[REDACTED] Consumer Mortgage Protection Act: Home Loan Toolkit not provided to borrower.

Missing evidence borrower was provided a copy of the Home Loan Toolkit at time of application.

Reviewer Comment (2019-06-14): Disclosure summary provided.

05/30/2019

Primary

Refinance - Cash-out - Other

Non QM

216127710

[REDACTED]

23237574

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Without Selle[REDACTED]sing Costs Financed

TI[REDACTED]A Integrated Disclosur[REDACTED]culating Cash to Close: Final Closing Disclosure provided on [REDACTED] disclosed Closing Costs Financed that does not match actual amount of closing costs financed.

The final CD disclosed $0 for financed costs.

Buyer Comment (2019-06-14): [REDACTED] has elected to waive

05/30/2019

Primary

Refinance - Cash-out - Other

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127710

[REDACTED]

23237575

Compliance

Federal Compliance

TRID

TRID Settlement Service Provider Status

TI[REDACTED]A Integrated Disclosure: Borrower not provided with list of service providers.

Missing evidence borrower was provided a copy of the Settlement Service Provider List at time of application.

Reviewer Comment (2019-06-14): Disclosure summary provided.

05/30/2019

Primary

Refinance - Cash-out - Other

No Defined Cure

Non QM

216127710

[REDACTED]

23237576

Compliance

Federal Compliance

TRID

TRID Service Provide[REDACTED]pliant

TI[REDACTED]A Integrated Disclosure: Settlement Service Provider List did not provide at least one available provider for each settlement service borrower is entitled to shop for or inform borrower they may choose different provider from list.

Buyer Comment (2019-06-14): [REDACTED] has elected to waive

05/30/2019

Primary

Refinance - Cash-out - Other

No Defined Cure

Non QM

216127713

[REDACTED]

23237593

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Selle[REDACTED]al Closing Costs Exceeds Limits

The dollar amount by which costs exceeded legal limits was not disclosed.

Buyer Comment (2019-06-14): [REDACTED] has elected to waive this exception.

04/30/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127713

[REDACTED]

23237594

Compliance

Federal Compliance

TRID

TRID Home Loan Toolkit Provided

Truth in Lending Act (2015): Creditor or broker did not provide Your Home Loan Toolkit Disclosure to applicant.

Evidence borrower received disclosure not provided.

Buyer Comment (2019-06-14): [REDACTED] has elected to waive this exception.

04/30/2019

Primary

Purchase

No Defined Cure

Non QM

216127713

[REDACTED]

23237595

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal [REDACTED]ection Fee. Fee Amount of $175.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

Zero Percent Fee Tolerance exceeded for Appraisal [REDACTED]ection Fee. Fee Amount of $175.00 exceeds tolerance of $0.00. Missing proof of valid change., insufficient or no cure was provided to the borrower.

Reviewer Comment (2019-06-14): [REDACTED] received required documents, exception is cleared.

Buyer Comment (2019-06-14): COC provided

04/30/2019

Primary

Purchase

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

Non QM

216127713

[REDACTED]

23237596

Compliance

Federal Compliance

TILA

ARM Disclosure Status Test

TIL variable rate disclosure: ARM loan program disclosure not provided to the borrower.

Evidence borrower received disclosure not provided.

Reviewer Comment (2019-06-14): [REDACTED] received required documents, exception is cleared.

Buyer Comment (2019-06-14): ARM disclosure provided

04/30/2019

Primary

Purchase

No Defined Cure

Non QM

216127713

[REDACTED]

23237597

Compliance

Federal Compliance

TILA

CHARM Booklet Disclosure Status

TIL variable rate disclosure: Consumer Handbook on Adjustable Rate Mortgages, CHARM Booklet, not provided to the borrower.

Evidence borrower received disclosure not provided.

Reviewer Comment (2019-06-14): [REDACTED] received required documents, exception is cleared.

Buyer Comment (2019-06-14): CHARM booklet provided

04/30/2019

Primary

Purchase

No Defined Cure

Non QM

216127713

[REDACTED]

23237598

Credit

AUS Discrepancy / Guidelines Discrepancy

Credit

Guideline Requirement: Qualifying interest rate discrepancy.

Per guides Greater of the note rate or fully indexed rate Lender used[REDACTED].

Reviewer Comment (2019-06-14): Corrected Qualifying interest rate

Buyer Comment (2019-06-14): See trailing documents

04/30/2019

Primary

Purchase

Non QM

216127713

[REDACTED]

23237599

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

Per the [REDACTED] 3 owners borrower is only[REDACTED]ownership CPA letter does not state otherwise and only has right to 50% of[REDACTED]of [REDACTED] income.

Reviewer Comment (2019-06-14): [REDACTED] received the CPA letter dated[REDACTED]with ownership percentage of [REDACTED].

Buyer Comment (2019-06-14): See updated CPA letter provided confirming borrower is [REDACTED] owner of [REDACTED]

Reviewer Comment (2019-06-14): Once we have confirmation of [REDACTED], it will reduce the usability of the [REDACTED] bank statement income further by [REDACTED] of the ownership %.

Reviewer Comment (2019-06-14): Nowhere on [REDACTED] on inc does it state borrower has [REDACTED] ownership, which is reflected on the bank statement worksheet. Also, these are [REDACTED] bank statement which require [REDACTED] usage, which is stated on page 1 of the bank statement analysis and per guide.

Buyer Comment (2019-06-14): Page 1 of [REDACTED] reflects [REDACTED] as [REDACTED] Ownership of [REDACTED]

Buyer Comment (2019-06-14): [REDACTED] reflect 4 owners, borrower is [REDACTED] [REDACTED] of the company. Please clear.

06/05/2019

Primary

Purchase

Non QM

216127713

[REDACTED]

23237600

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Matc[REDACTED] Risk

Ability to Repay (Do[REDACTED]k 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Per the [REDACTED] 3 owners borrower is only[REDACTED]ownership CPA letter does not state otherwise and only has right to 50% of[REDACTED]of [REDACTED] income.

Reviewer Comment (2019-06-14): [REDACTED] received the CPA letter dated[REDACTED]with ownership percentage of [REDACTED].

Reviewer Comment (2019-06-14): Once we have confirmation of [REDACTED], it will reduce the usability of the [REDACTED] bank statement income further by [REDACTED] of the ownership %.

Reviewer Comment (2019-06-14): Nowhere on [REDACTED] on inc does it state borrower has [REDACTED] ownership, which is reflected on the bank statement worksheet. Also, these are [REDACTED] bank statement which require [REDACTED] usage, which is stated on page 1 of the bank statement analysis and per guide.

Buyer Comment (2019-06-14): See trailing documents provided

06/05/2019

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

Non QM

216127713

[REDACTED]

23237601

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Do[REDACTED]k 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

Per the [REDACTED] 3 owners borrower is only[REDACTED]ownership CPA letter does not state otherwise and only has right to 50% of[REDACTED]of [REDACTED] income.

06/05/2019

Primary

Purchase

Non QM

216127713

[REDACTED]

23237602

Compliance

Federal Compliance

ATR/QM Defect

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

Ability to Repay (Do[REDACTED]k 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 92.71271% significantly exceeds the guideline maximum of [REDACTED]. (DTI Exception requires compelling compensating factors to consider regrading to E[REDACTED])

Per the [REDACTED] 3 owners borrower is only[REDACTED]ownership CPA letter does not state otherwise and only has right to 50% of[REDACTED]of [REDACTED] income.

Reviewer Comment (2019-06-14): [REDACTED] received the CPA letter dated[REDACTED]]ith borrower [REDACTED] of LLC verified at [REDACTED].

Reviewer Comment (2019-06-14): Once we have confirmation of [REDACTED], it will reduce the usability of the [REDACTED] bank statement income further by [REDACTED] of the ownership %.

Reviewer Comment (2019-06-14): Nowhere on [REDACTED] on inc does it state borrower has [REDACTED] ownership, which is reflected on the bank statement worksheet. Also, these are [REDACTED] bank statement which require [REDACTED] usage, which is stated on page 1 of the bank statement analysis and per guide.

Buyer Comment (2019-06-14): See trailing documents provided

06/05/2019

Primary

Purchase

Non QM

216127716

[REDACTED]

23237636

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Without Selle[REDACTED]sing Costs Financed

The final CD disclosed Closing Costs Financed as $0.00; calculated Closing Costs Financed is $[REDACTED].

Buyer Comment (2019-06-14): [REDACTED] has elected to waive this exception.

05/22/2019

Primary

Refinance - Cash-out - Debt Consolidation

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127716

[REDACTED]

23237637

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Without Selle[REDACTED]al Closing Costs Exceeds Limits

The final CD provided a tolerance cure of $77.60; calculated tolerance cure is $227.60.

Buyer Comment (2019-06-14): [REDACTED] has elected to waive this exception.

05/22/2019

Primary

Refinance - Cash-out - Debt Consolidation

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127716

[REDACTED]

23237638

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $268.00 exceeds tolerance of $214.00 plus 10% or $235.40. Insufficient or no cure was provided to the borrower.

The final CD increased the Recording Fees without a valid change of circumstance.

Reviewer Comment (2019-06-14): [REDACTED] received PCCD indicating cure, LOE, Refund Check, and Proof of Mailing. Exception Cured.

Buyer Comment (2019-06-14): Final CD Section J. reflects Lender Credit of $77.60 for closing cost above legal limit. Please clear.

Reviewer Comment (2019-06-14): [REDACTED] received COCs. An interest rate change and recording fees are not related therefore the[REDACTED] COC is not valid for the increase. Please provide corrected CD, LOE, Refund Check, and Proof of Delivery to cure.

Buyer Comment (2019-06-14): See L[REDACTED]OC provided

05/23/2019

Primary

Refinance - Cash-out - Debt Consolidation

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

Non QM

216127716

[REDACTED]

23237639

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee. Fee Amount of $695.00 exceeds tolerance of $650.00. Insufficient or no cure was provided to the borrower.

The CD issued on [REDACTED] increased the Appraisal Fee without a valid change of circumstance.

05/23/2019

Primary

Refinance - Cash-out - Debt Consolidation

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

Non QM

216127716

[REDACTED]

23237640

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Collateral Desktop Analysis. Fee Amount of $150.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

The Collateral Desk Review was added to the CD issued on [REDACTED] without a valid change of circumstance.

Reviewer Comment (2019-06-14): [REDACTED] received PCCD indicating cure, LOE, Refund Check, and Proof of Mailing. Exception Cured.

Buyer Comment (2019-06-14): See cure documents provided

05/23/2019

Primary

Refinance - Cash-out - Debt Consolidation

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

Non QM

216127716

[REDACTED]

23237641

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 7.58340% or Final Disclosure APR of 7.58800% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 5.62000%. Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2019-06-14): [REDACTED] mortgage purchases HPML compliant loans.

05/08/2019

Primary

Refinance - Cash-out - Debt Consolidation

Non QM

216127716

[REDACTED]

23237642

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Loan Discount Points. Fee Amount of $5,025.00 exceeds tolerance of $4,912.50. Insufficient or no cure was provided to the borrower.

A Change of Circumstance was provided for the increase to the Discount Points.

Reviewer Comment (2019-06-14): [REDACTED] received [REDACTED] COC. Exception Cleared.

05/14/2019

Primary

Refinance - Cash-out - Debt Consolidation

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

Non QM

216127716

[REDACTED]

23237643

Credit

Guideline

Guideline Issue

Guideline

Borrower does not have the minimum active tradelines per guidelines.

Borrower has only 1 current active tradeline (1st mortgage [REDACTED] mortgage VOM shows that it is a no payment loan, so it cannot be counted as there is no payment history) and 6 inactive tradelines open for [REDACTED] vs program requirement of 2 active tradelines and 1 inactive tradeline open for [REDACTED].

No credit late payments in the past [REDACTED] (since XXXXXX) and no public records.

Borrower has been se[REDACTED]oyed as XXXXXX for the past [REDACTED].

DTI is [REDACTED], 6.03243% < program maximum of [REDACTED].

Reserves are [REDACTED] months , [REDACTED] months > program requirement of 3 months.

Credit score is [REDACTED], 48 points > program requirement of [REDACTED].

LTV is [REDACTED], [REDACTED] < program maximum of [REDACTED].

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Reviewer Comment (2019-06-14): [REDACTED] has elected to waive this exception based on compensating factors.

05/08/2019

Primary

Refinance - Cash-out - Debt Consolidation

Non QM

216127719

[REDACTED]

23237653

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Provided Prior to Date Performed

ECOA Valuations Rule (Do[REDACTED]k 2014): Date valuation provided to applicant is prior to the date when valuation was performed. Unable to determine compliance with appraisal timing requirements.

Email evidences initial, unprovided, report receipt.

Reviewer Comment (2019-06-14): Effective date [REDACTED]]

05/24/2019

Primary

Refinance - Cash-out - Other

Non QM

216127719

[REDACTED]

23237654

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 7.33560% or Final Disclosure APR of 7.40000% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 5.74000%. Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2019-06-14): [REDACTED] mortgage purchases HPML compliant loans.

05/16/2019

Primary

Refinance - Cash-out - Other

Non QM

216127719

[REDACTED]

23237655

Compliance

State Compliance

State Defect

(State High Cost Disclosure) New Jersey High-Cost Loan (Borrower Notice Not Provided)

[REDACTED] Hi[REDACTED] Loan: Notice to Borrower not provided to borrower.

Reviewer Comment (2019-06-14): [REDACTED] High-Cost Loan: Notice to Borrower provided to borrower.

Buyer Comment (2019-06-14): See trailing documents

05/24/2019

Primary

Refinance - Cash-out - Other

Within 45 days of closing, provide: (1) Letter of Explanation; (2) refund of amount over the high-cost threshold maximum; and (3) proof of delivery.

(Narrow Defense - CHD Approval Required) Within 365 days of closing, and prior to lender receiving any notice from borrower of the compliance failure, provide: (1) Lender Attestation to AMC attesting (i) the failure was not intentional and was a bona fide error notwithstanding procedures in place to prevent such loans from being made and (ii) the lender has not received any notice from borrower of the failure; (2) refund of amount over the high-cost threshold maximum; and (3) proof of delivery.

Non QM

216127719

[REDACTED]

23237656

Compliance

State Compliance

State Defect

(State High Cost Provision) New Jersey High-Cost Loan (Counseling Requirement)

[REDACTED] Hi[REDACTED] Loan: Proof of counseling from H[REDACTED]oved nonprofit credit counselor not obtained.

Reviewer Comment (2019-06-14): [REDACTED] High Cost Counseling provided.

Buyer Comment (2019-06-14): See trailing documents

05/24/2019

Primary

Refinance - Cash-out - Other

Non QM

216127719

[REDACTED]

23237657

Compliance

State Compliance

State Defect

(State High Cost Provision) New Jersey High-Cost Loan (Financed Fees Exceeds Threshold)

[REDACTED] Hi[REDACTED] Loan: Lender financed points and fees in excess of 2% of the total loan amount.

Reviewer Comment (2019-06-14): LOE, PPCD and refund check have been provided to cure.

Buyer Comment (2019-06-14): Cure documents provided

Reviewer Comment (2019-06-14): Fees charges of $7,044.50 exceed maximum allowable of 6,837.99 please provide a refund of the overage within [REDACTED] of closing in the amount of 206.51.

Reviewer Comment (2019-06-14): Disclosure provided dated [REDACTED]but not signed and dated by borrower.

Buyer Comment (2019-06-14): See trailing documents

05/30/2019

Primary

Refinance - Cash-out - Other

Non QM

216127719

[REDACTED]

23237658

Compliance

State Compliance

State Defect

(State High Cost) New Jersey High-Cost Loan (Points and Fees)

[REDACTED] Home Ownership Security Act: Points and Fees on subject loan of 4.63590% is in excess of the allowable maximum of 4.50000% of the Total Loan Amount. Points and Fees total $7,044.50 on a Total Loan Amount of [REDACTED] vs. an allowable total of $6,837.99 (an overage of $206.51 or .13590%). N[REDACTED]liant High Cost Loan.

Reviewer Comment (2019-06-14): LOE, PPCD and refund check have been provided.

Reviewer Comment (2019-06-14): Fees charges of $7,044.50 exceed maximum allowable of 6,837.99 please provide a refund of the overage within [REDACTED] of closing in the amount of 206.51.

Reviewer Comment (2019-06-14): Disclosure provided dated [REDACTED]but not signed and dated by borrower.

Buyer Comment (2019-06-14): See trailing documents

05/30/2019

Primary

Refinance - Cash-out - Other

Non QM

216127719

[REDACTED]

23237659

Compliance

State Compliance

State Defect

(State High Cost Disclosure) New Jersey High-Cost Loan (Borrower Notice Not Signed/Dated)

[REDACTED] Hi[REDACTED] Loan: Mortgage loan file does not contain evidence that borrower received Notice to Borrower at least three (3) [REDACTED] days prior to closing (evidenced by signature and date).

Reviewer Comment (2019-06-14): [REDACTED] received the Notice to Borrower signed and dated[REDACTED]].

Buyer Comment (2019-06-14): See trailing documents

Reviewer Comment (2019-06-14): Disclosure provided dated [REDACTED]]

05/28/2019

Primary

Refinance - Cash-out - Other

Non QM

216127722

[REDACTED]

23237695

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Buyer Comment (2019-06-14): [REDACTED] has elected to waive this exception.

06/03/2019

Primary

Purchase

Non QM

216127722

[REDACTED]

23237696

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Selle[REDACTED]al Closing Costs Exceeds Limits

Not provided, field not shown on CD. No cure provided for survey fee overage.

Reviewer Comment (2019-06-14): Letter of Explanation & Corrected Closing Disclosure provided

Buyer Comment (2019-06-14): Please see PCCD,LOX,Check-Label

06/05/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127722

[REDACTED]

23237697

Compliance

Federal Compliance

TRID

TRID Seller Closing Disclosure

TI[REDACTED]A Integrated Disclosure: Seller Closing Disclosure not located in the file.

Seller CD missing from file.

Reviewer Comment (2019-06-14): Seller CD provided

Buyer Comment (2019-06-14): Please see Seller CD

06/05/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127722

[REDACTED]

23237698

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Survey Fee. Fee Amount of $300.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

No cure provided for overage, survey fee added without VCC.

Reviewer Comment (2019-06-14): Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD provided

Buyer Comment (2019-06-14): Please see PCCD,LOX,Check-Label

06/05/2019

Primary

Purchase

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

Non QM

216127722

[REDACTED]

23237700

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Survey Fee. Fee Amount of $300.00 exceeds tolerance of $0.00. Sufficient or excess cure was provided to the borrower.

Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD provided

Reviewer Comment (2019-06-14): Letter of Explanation, Proof of Delivery, Copy of Refund Check, and Corrected CD provided

06/05/2019

Primary

Purchase

Non QM

216127723

[REDACTED]

23237702

Credit

Insurance

Insurance Documentation

Insurance

Hazard Insurance Error: Subject hazard insurance policy number is missing from evidence of insurance.

Only the Binder was provided in file and did not disclose the actual policy number.

Reviewer Comment (2019-06-14): Updated HOI policy with policy number provided.

Buyer Comment (2019-06-14): HOI policy uploaded.

06/04/2019

Primary

Refinance - Cash-out - Debt Consolidation

Non QM

216127723

[REDACTED]

23237703

Credit

Credit Documentation

Credit

Insufficient Verification of Rental History.

Loan program guidelines require that the use of [REDACTED] is documented with the lease agreement along with verification of 3 months receipt of rental payments. The Borrower is unable to provide proof of the rental receipts, however, a Lender Exception was granted to allow loan to proceed.

One open mortgage reporting 0x30 since inception XXXXXX. Two closed mortgages reporting paid as agreed. Perfect credit history since inception of earliest account opened XXXXXXand no public records.

Borrower has been XXXXXX for just under [REDACTED] and employed in the same line of business for 2[REDACTED].

Reserves of [REDACTED] months are [REDACTED] months greater than the 11 months minimum required.

Borrower FICO is [REDACTED], 15 points > minimum requirement of [REDACTED].

LTV is [REDACTED] and is [REDACTED]< program max of [REDACTED].

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Reviewer Comment (2019-06-14): [REDACTED] has elected to waive this exception based on compensating factors.

06/03/2019

Primary

Refinance - Cash-out - Debt Consolidation

Non QM

216127723

[REDACTED]

23237704

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 6.86080% or Final Disclosure APR of 6.86800% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 6.09000%. Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2019-06-14): [REDACTED] mortgage purchases HPML compliant loans.

06/03/2019

Primary

Refinance - Cash-out - Debt Consolidation

Non QM

216127723

[REDACTED]

23237705

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Unable to locate the LO Compensation Disclosure in file.

Buyer Comment (2019-06-14): [REDACTED] has elected to waive this exception.

06/03/2019

Primary

Refinance - Cash-out - Debt Consolidation

Non QM

216127726

[REDACTED]

23237729

Credit

Credit Documentation

Missing Document

Missing Document: Credit Report not provided

Reviewer Comment (2019-06-14): Credit reports provided.

Buyer Comment (2019-06-14): Credit reports uploaded.

06/07/2019

Primary

Purchase

Non QM

216127726

[REDACTED]

23237731

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Buyer Comment (2019-06-14): [REDACTED] has elected to waive this exception.

06/06/2019

Primary

Purchase

Non QM

216127726

[REDACTED]

23237732

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Matc[REDACTED]

Ability to Repay (Do[REDACTED]k 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Fail.

Loan does not meet ATR requirements due to missing credit report.

Reviewer Comment (2019-06-14): Credit reports provided.

Buyer Comment (2019-06-14): Credit reports uploaded.

06/07/2019

Primary

Purchase

Lender to provide updated ATR/QM status

Non QM

216127726

[REDACTED]

23237733

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Credit History

Ability to Repay (Do[REDACTED]k 2014): Unable to verify debt obligations using reasonably reliable thi[REDACTED]y records.

Loan does not meet ATR requirements due to missing credit report.

Reviewer Comment (2019-06-14): Credit reports provided.

Buyer Comment (2019-06-14): Credit reports uploaded.

06/07/2019

Primary

Purchase

Non QM

216127726

[REDACTED]

23237735

Compliance

Federal Compliance

ATR/QM

NonQM ATR

Abili[REDACTED]epay (Do[REDACTED]k 2014): General Abili[REDACTED]epay requirements not satisfied.

Loan does not meet ATR requirements due to missing credit report.

Reviewer Comment (2019-06-14): Credit reports provided.

06/07/2019

Primary

Purchase

Non QM

216127726

[REDACTED]

23237736

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Closing Date

TI[REDACTED]A Integrated Disclosur[REDACTED]eral Information: Final Closing Disclosure provided on [REDACTED] disclosed a Closing Date that did not match the actual date of consummation.

The final CD disclosed a closing date of [REDACTED]; two of the borrowers signed on [REDACTED].

Reviewer Comment (2019-06-14): [REDACTED] received PCCD correcting close date and LOE. Exception Cured.

Buyer Comment (2019-06-14): PC[REDACTED[REDACTED]l uploaded

06/07/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127726

[REDACTED]

23237737

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Total Closing Costs Exceeds Limits Amount

TI[REDACTED]A Integrated Disclosur[REDACTED]culating Cash to Close: Final Closing Disclosure provided on [REDACTED] disclosed a tolerance cure amount that does not match the amount disclosed in the Other Costs table.

Section J, page 2 of the final CD disclosed a tolerance cure of $2.30; the Calculating Cash to Close table on page 3 did not disclose a tolerance cure.

Reviewer Comment (2019-06-14): [REDACTED] received PCCD indicating cure on page 2 and LOE. Exception Cured.

Buyer Comment (2019-06-14): PC[REDACTED[REDACTED]l uploaded

06/07/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127726

[REDACTED]

23237738

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Selle[REDACTED]al Closing Costs Exceeds Limits

The Calculating Cash to Close table on page 3 of the final CD did not disclose the tolerance cure disclosed in Section J of page 2.

Buyer Comment (2019-06-14): [REDACTED] has elected to waive this exception.

Reviewer Comment (2019-06-14): [REDACTED] received PCCD however the cure amount is not indicated on page 3. Please provide corrected CD and LOE to cure.

Buyer Comment (2019-06-14): PC[REDACTED[REDACTED]l uploaded

06/11/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127726

[REDACTED]

23237739

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided At Closing

TI[REDACTED]A Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $406.00 exceeds tolerance of $367.00 plus 10% or $403.70. Sufficient or excess cure was provided to the borrower at Closing.

06/03/2019

Primary

Purchase

Final CD evidences Cure

Non QM

216127726

[REDACTED]

23237740

Credit

Credit Documentation

Guideline

Missing Document: Verification of Rent (VOR[REDACTED]erification of Mortgage (VOM) not provided

Provide VOR for [REDACTED]

Reviewer Comment (2019-06-14): [REDACTED] rent payments provided.

Buyer Comment (2019-06-14): Please see [REDACTED] rent payments for [REDACTED]. Letter of explanation stating [REDACTED] lived with the borrower.

06/12/2019

Primary

Purchase

Non QM

216127728

[REDACTED]

23237744

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Buyer Comment (2019-06-14): [REDACTED]has elected to waive

06/05/2019

Primary

Refinance - Cash-out - Other

Non QM

216127729

[REDACTED]

23237747

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Loan Originator Compensation disclosure not provided, Unable to determine if compensation was based in a term of the transaction

Buyer Comment (2019-06-14): [REDACTED] has elected to waive this exception.

06/07/2019

Primary

Purchase

Non QM

216127729

[REDACTED]

23237748

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Survey Fee. Fee Amount of $400.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

The Loan Estimates indicated the survey fee as a title fee while the Closing Disclosures disclosed this as a separate fee, not title related.

Reviewer Comment (2019-06-14): [REDACTED] received required documents, exception is cleared.

Buyer Comment (2019-06-14): Uploaded For Review-Attestation

06/10/2019

Primary

Purchase

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

Non QM

216127729

[REDACTED]

23237749

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Selle[REDACTED]al Closing Costs Exceeds Limits

The final CD does not disclose a dollar amount by which the total closing costs exceeded the legal limit.

Reviewer Comment (2019-06-14): [REDACTED] received required documents, exception is cleared.

06/10/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127729

[REDACTED]

23237750

Credit

Missing Document

General

Missing Document

Missing Document: Verification of N[REDACTED]itizen Status not provided

Documentation in file confirms the Borrower is a [REDACTED], however, the Borrower's [REDACTED] Card was not provided in file.

Reviewer Comment (2019-06-14): [REDACTED] Card was provided.

Buyer Comment (2019-06-14): Uploaded For Review-[REDACTED] Card

06/11/2019

Primary

Purchase

Non QM

216127729

[REDACTED]

23237751

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

1003 Error: Citizenship Source Documentation was not provided

The declarations of the Final 1003 confirms the Borrower is not a [REDACTED], however, their [REDACTED] card was not provided in file.

Reviewer Comment (2019-06-14): [REDACTED] Card was provided.

06/11/2019

Primary

Purchase

Non QM

216127741

[REDACTED]

23237837

Compliance

Federal Compliance

ATR/QM

[REDACTED] Tax Return Recenc[REDACTED]

Loan closed XXXXX[REDACTED]ssing [REDACTED] Tax Returns The tax returns used were not current based on the closing date. the filing of the extension does not make the stale returns current, it just means the consumer is deferring their filing with the IRS. Specifically the income being used to qualify is not based on recent returns.

Buyer Comment (2019-06-25): [REDACTED] has elected to waive

06/19/2019

Primary

Refinance - Cash-out - Debt Consolidation

Non QM

216127741

[REDACTED]

23237838

Compliance

State Compliance

State HPML

(State HPML Disclosure) New York Subprime Loan (Counseling Disclosure Not Provided at Application but within Three Days)

[REDACTED] Subprime Loan: Counseling Disclosure not provided to borrower at the time of application, but within three days of application.

The NY Counseling Disclosure was provided to the borrower on [REDACTED]; initial application date [REDACTED]

Buyer Comment (2019-06-25): [REDACTED] has elected to waive

06/19/2019

Primary

Refinance - Cash-out - Debt Consolidation

No obvious cure

Non QM

216127741

[REDACTED]

23237840

Compliance

State Compliance

State HPML

[REDACTED] Subprime Home Loan Threshold Greater than 3 Year ARM Compliant

[REDACTED] Subprime Loan: APR on subject loan of 6.81540% is in excess of allowable threshold of Prime Mortgage Market Rate 3.66000% +[REDACTED], or 5.41000%. Compliant SubPrime Loan.

Buyer Comment (2019-06-25): [REDACTED] has elected to waive

06/19/2019

Primary

Refinance - Cash-out - Debt Consolidation

Non QM

216127741

[REDACTED]

23237841

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Without Selle[REDACTED]al Closing Costs Exceeds Limits

No amount disclosed for tolerance cure.

Buyer Comment (2019-06-25): [REDACTED] has elected to waive

06/19/2019

Primary

Refinance - Cash-out - Debt Consolidation

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127741

[REDACTED]

23237842

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]ording Service Fee. Fee Amount of $25.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

No VCC or cure provided.

Reviewer Comment (2019-06-25): [REDACTED] received PCCD indicating cure, LOE, and Refund Check. Exception Cleared.

06/19/2019

Primary

Refinance - Cash-out - Debt Consolidation

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

Non QM

216127741

[REDACTED]

23237843

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]ording Service Fee. Fee Amount of $25.00 exceeds tolerance of $0.00. Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2019-06-25): [REDACTED] received PCCD indicating cure, LOE, and Refund Check. Exception Cured.

06/19/2019

Primary

Refinance - Cash-out - Debt Consolidation

Non QM

216127742

[REDACTED]

23237812

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Buyer Comment (2019-06-25): [REDACTED]has elected to waive this exception.

06/19/2019

Primary

Purchase

Non QM

216127742

[REDACTED]

23237814

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee. Fee Amount of $650.00 exceeds tolerance of $465.00. Sufficient or excess cure was provided to the borrower at Closing.

Evidence of sufficient cure for increase in appraisal fee not provided.

06/14/2019

Primary

Purchase

Final CD evidences Cure

Non QM

216127742

[REDACTED]

23237815

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided At Closing

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Credit Report Fee. Fee Amount of $117.00 exceeds tolerance of $65.00. Sufficient or excess cure was provided to the borrower at Closing.

Evidence of sufficient cure for increase in credit report fee not provided.

06/14/2019

Primary

Purchase

Final CD evidences Cure

Non QM

216127742

[REDACTED]

23237816

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Summaries Of Transaction[REDACTED]h From To Borrower

TI[REDACTED]A Integrated Disclosur[REDACTED]maries of Transactions: Final Closing Disclosure provided on [REDACTED] disclosed an Amount of Cash to Close that does not match the Final value of Cash to Close in the Calculating Cash to Close table.

Summaries of Transactions: Final Closing Disclosure provided on [REDACTED] disclosed an Amount of Cash to Close that does not match the Final value of Cash to Close. Amount of cash to close is disclosed as $[REDACTED] which does not account for funds paid towards other debt.

Buyer Comment (2019-06-25): [REDACTED] has elected to waive this exception.

06/19/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127742

[REDACTED]

23237817

Compliance

Federal Compliance

ATR/QM

[REDACTED] Tax Return Recenc[REDACTED]

Buyer Comment (2019-06-25): [REDACTED] has elected to waive this exception.

06/20/2019

Primary

Purchase

Non QM

216127749

[REDACTED]

23237983

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Right to Receive Copy of Appraisal Disclosure Not Provided Timely

ECOA Valuations Rule (Do[REDACTED]k 2014): Creditor did not provide "Right to Receive a Copy" appraisal disclosure disclosure to applicant within three (3) [REDACTED] days of application or determination of first lien status.

Evidence of earlier receipt missing from file.

Buyer Comment (2019-07-03): [REDACTED] has elected to waive this exception.

06/21/2019

Investment

Purchase

N/A

216127752

[REDACTED]

23237978

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Minimum Loan Amount discrepancy.

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

Loan amount of $[REDACTED] is less than the minimum of $[REDACTED] required per guidelines. Approved Lender Exception in file.

Perfect credit history since earliest inception date of XXXXXX. No public records. Subject property was owned free and clear

Credit score is [REDACTED], 25 points > program requirement of [REDACTED].

LTV is [REDACTED], [REDACTED] < program maximum of [REDACTED].

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Reviewer Comment (2019-07-03): [REDACTED] has elected to waive this exception based on compensating factors.

05/24/2019

Primary

Refinance - Cash-out - Other

Non QM

216127752

[REDACTED]

23237979

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Buyer Comment (2019-07-03): [REDACTED]has elected to waive this exception.

05/24/2019

Primary

Refinance - Cash-out - Other

Non QM

216127752

[REDACTED]

23237980

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 8.34300% or Final Disclosure APR of 8.37000% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 5.71000%. Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2019-07-03): [REDACTED] mortgage purchases HPML compliant loans.

05/24/2019

Primary

Refinance - Cash-out - Other

Non QM

216127752

[REDACTED]

23237981

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

- ___

Missing proof of ownership % as required for [REDACTED]

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Reviewer Comment (2019-07-03): Client elects to waive the exception with verified compensation factors.

Buyer Comment (2019-07-03): Uploaded For Review-Exception Approval

Reviewer Comment (2019-07-03): Understand borrower is a[REDACTED] with no [REDACTED] designation, however [REDACTED] guide states for A5 must have documentation for % owned. Since no [REDACTED] formation exist, a CPA letter is required that states such or waive the requirement.

Buyer Comment (2019-07-03): Sent escalation email. Per the [REDACTED] independent contractor letters obtained from the Borrower clients, he is [REDACTED] that provides [REDACTED] ([REDACTED]) to several establishments.

The borrower is not [REDACTED]or a [REDACTED], merely an individual [REDACTED] in the [REDACTED] industry, the letters additionally confirm that it is [REDACTED] as an individual that performs the services provided.

Please reconsider this exception for clearance.

06/26/2019

Primary

Refinance - Cash-out - Other

Non QM

216127753

[REDACTED]

23237954

Credit

AUS Discrepancy / Guidelines Discrepancy

Guideline

Guideline Requirement: Investor qualifying total debt ratio discrepancy.

DTI exceeds program maximum due to discrepancy in income calculation. Calculated income is $[REDACTED]. Lender's analysis disclosed income of $[REDACTED]; however, 3 large transfers in the[REDACTE[REDACTED]tatement were not excluded by the lender. An explanation was not provided.

Reviewer Comment (2019-07-03): Received additional information to reduce debt ratio. Condition cleared.

Buyer Comment (2019-07-03): Updated income worksheet provided, missing bank statement [REDACTED] also provided. new DTI [REDACTED]. Please clear.

06/10/2019

Primary

Purchase

Non QM

216127753

[REDACTED]

23237955

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee. Fee Amount of $675.00 exceeds tolerance of $650.00. Insufficient or no cure was provided to the borrower.

The CD issued on [REDACTED] increased the Appraisal Fee without a valid change of circumstance.

Reviewer Comment (2019-07-03): [REDACTED] reviewed exception. A cure is indicated on the Final CD. Exception Cured.

Buyer Comment (2019-07-03): Final CD section J. reflects a Lender credit of $136.30 issued to the borrower for increase in closing cost above legal limit. Please clear.

06/19/2019

Primary

Purchase

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

Non QM

216127753

[REDACTED]

23237956

Compliance

Federal Compliance

ATR/QM Defect

General Ability To Repay Provision Investor Guidelines

Ability to Repay (Do[REDACTED]k 2014): Based on the loan failing one or more guideline components, the loan is at ATR risk.

The loan is at ATR risk due to the DTI exceeding program maximum.

Reviewer Comment (2019-07-03): Not able to use post-close bank statement worksheet, approval and 1008 to change DTI, however exception is cleared.

Buyer Comment (2019-07-03): Final DTI under guideline maximum - please clear.

06/12/2019

Primary

Purchase

Non QM

216127753

[REDACTED]

23237958

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Selle[REDACTED]al Closing Costs Exceeds Limits

The final CD provided a tolerance cure of $136.30; calculated cure is $216.93.

Buyer Comment (2019-07-03): [REDACTED] has elected to waive this exception.

06/18/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127753

[REDACTED]

23237959

Compliance

Federal Compliance

ATR/QM Defect

Check Loan Designation Matc[REDACTED] Risk

Ability to Repay (Do[REDACTED]k 2014): Originator Loan Designation of Non QM does not match Due Diligence Loan Designation of ATR Risk.

Loan is at ATR risk due to DTI exceeding program maximum.

06/12/2019

Primary

Purchase

Lender to provide updated ATR/QM Loan Designation

Non QM

216127753

[REDACTED]

23237960

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 8.04920% or Final Disclosure APR of 8.06400% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 6.08000%. Compliant Higher Priced Mortgage Loan.

Reviewer Comment (2019-07-03): Client has elected to waive this exception.

06/06/2019

Primary

Purchase

Non QM

216127753

[REDACTED]

23237961

Compliance

Federal Compliance

ATR/QM Defect

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

Ability to Repay (Do[REDACTED]k 2014): The DTI calculated in accordance with the Lenders Guidelines and 1026.43(c)(5) of 51.86378% moderately exceeds the guideline maximum of [REDACTED]. (DTI Exception is eligible to be regraded with compensating factors.)

Exception with compensating factors not provided as lender's income calculation resulted in a lower DTI.

Reviewer Comment (2019-07-03): Reviewed additional information provided. Condition cleared.

06/10/2019

Primary

Purchase

Non QM

216127753

[REDACTED]

23237962

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $1,337.00 exceeds tolerance of $1,162.00 plus 10% or $1,278.20. Insufficient or no cure was provided to the borrower.

The CD issued on [REDACTED] increased the Title Fees without a valid change of circumstance.

06/19/2019

Primary

Purchase

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

Non QM

216127753

[REDACTED]

23237963

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Extension Fee. Fee Amount of $133.13 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower.

The Extension Fee was added to the CD issued on [REDACTED] without a valid change of circumstance.

Reviewer Comment (2019-07-03): [REDACTED] received PCCD indicating cure, LOE, and Refund Check. Exception Cleared.

Buyer Comment (2019-07-03): Cure documents provided

Reviewer Comment (2019-07-03): [REDACTED] received [REDACTED] COC however the fee was disclosed on the [REDACTED] CD. Please provide corrected CD, LOE, and Refund Check to cure. An additional cure of $80.63 is due.

Buyer Comment (2019-07-03): See VCC provided

06/21/2019

Primary

Purchase

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

Non QM

216127753

[REDACTED]

23237964

Compliance

Federal Compliance

TRID

TRID Ten Percent Tolerance Violation With Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $1,337.00 exceeds tolerance of $1,162.00 plus 10% or $1,278.20. Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2019-07-03): [REDACTED] received PCCD indicating cure, LOE, and Refund Check. Exception Cured.

06/21/2019

Primary

Purchase

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

Non QM

216127753

[REDACTED]

23237965

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Extension Fee. Fee Amount of $133.13 exceeds tolerance of $0.00. Sufficient or excess cure was provided to the borrower.

[REDACTED] received PCCD indicating cure, LOE, and Refund Check. Exception Cured.

Reviewer Comment (2019-07-03): [REDACTED] received PCCD indicating cure, LOE, and Refund Check. Exception Cured.

06/21/2019

Primary

Purchase

Non QM

216127753

[REDACTED]

23237966

Compliance

Federal Compliance

TRID

TRID Zero Percent Tolerance Violation With Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Appraisal Fee. Fee Amount of $675.00 exceeds tolerance of $650.00. Sufficient or excess cure was provided to the borrower.

Reviewer Comment (2019-07-03): [REDACTED] received PCCD indicating cure, LOE, and Refund Check. Exception Cured.

06/21/2019

Primary

Purchase

Non QM

216127756

[REDACTED]

23237918

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Buyer Comment (2019-07-03): [REDACTED] has elected to waive this exception.

06/24/2019

Primary

Purchase

Non QM

216127756

[REDACTED]

23237920

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - Anti-Steering Disclosure Not Provided: Unable to determine Anti-Steering compliance/Safe Harbor

Loan Originator Compensation: An[REDACTED]rin[REDACTED]ble to determine Safe Harbor due to An[REDACTED]ring Disclosure not provided to borrower.

Missing evidence borrower was provided a copy of the Anti Steering Disclosure at time of application.

Buyer Comment (2019-07-03): [REDACTED] has elected to waive this exception.

06/24/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237921

Credit

Miscellaneous

Guideline

Credit Exception:

Lender acknowledged exception to allow Borrower's [REDACTED] for the past [REDACTED] vs. program requirement of 24 months [REDACTED]

Perfect credit always paid as agreed and no public records

[REDACTED] DTI on this Alt documentation loan < 43% guideline ma[REDACTED] below program guideline maximum

Borrower is the owner of XXXXXX for the past [REDACTED] and has [REDACTED] in the same line of work.

Reserves are [REDACTED] months, [REDACTED] months > program requirement of 3 months

Credit score is [REDACTED], 76 points > program requirement of [REDACTED]

LTV is [REDACTED], 10% < program maximum of [REDACTED]

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Reviewer Comment (2019-07-03): [REDACTED] has elected to waive this exception based on compensating factors.

06/04/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237922

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Reviewer Comment (2019-07-03): Approval provided

Buyer Comment (2019-07-03): Approval provided

06/06/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237923

Credit

Missing Document

General

Missing Document

Missing Document: Borrower Ability to Repay Attestation not provided

Reviewer Comment (2019-07-03): [REDACTED] received the signed, initialed and dated ATR attestation.

Buyer Comment (2019-07-03): Borrower ATR Attestation provided

06/18/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237924

Credit

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal not provided

Reviewer Comment (2019-07-03): Appraisal provided

Buyer Comment (2019-07-03): Appraisal provided

06/06/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237925

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.

Appraisal is missing from file

Reviewer Comment (2019-07-03): Appraisal provided.

06/06/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237927

Compliance

Federal Compliance

ECOA

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

ECOA Valuations Rule (Do[REDACTED]k 2014): Creditor did not provide a copy of each valuation to applicant three (3) [REDACTED] days prior to consummation.

Reviewer Comment (2019-07-03): Documentation confirming Receipt of Appraisal provided.

06/06/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237928

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 6.02510% or Final Disclosure APR of 6.03000% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 5.97000%. N[REDACTED]liant Higher Priced Mortgage Loan.

Reviewer Comment (2019-07-03): Documentation confirming Receipt of Appraisal provided.

06/06/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237929

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.

Reviewer Comment (2019-07-03): Documentation confirming Receipt of Appraisal provided.

06/06/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237930

Compliance

Federal Compliance

Federal HPML

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

TILA HPML Appraisal Rule (Do[REDACTED]k 2014): Appraisal not obtained by physical visit to property.

Reviewer Comment (2019-07-03): Documentation confirming Receipt of Appraisal provided.

06/06/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237931

Compliance

Federal Compliance

Missing Required Data (other than HUD-1 or Note)

Appraisal Flipped Property Missing Information

Last Sales Price or Last Sales Date from the Primary Valuation or Contract Sales Price or Contract Sales Date are missing. Unable to determine compliance with TIL HPML Flipped Property Requirements.

Reviewer Comment (2019-07-03): Documentation confirming Receipt of Appraisal provided.

06/06/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237932

Compliance

Federal Compliance

RESPA

RESPA Disclosure - List of Homeownership Counseling Organizations Missing

RESPA Disclosure Rule (Do[REDACTED]k 2014): Creditor did not provide List of Homeownership Counseling Organizations to borrower.

Buyer Comment (2019-07-03): [REDACTED] has elected to waive this exception.

06/18/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237933

Compliance

State Compliance

State Defect

Rhode Island Home Loan (Prohibited Acts and Practices Regarding High-Cost Home Loans Disclosure Not Provided)

Rhode Island Home Loan: Prohibited Acts and Practices Regarding Hi[REDACTED] Home Loans disclosure not provided.

Reviewer Comment (2019-07-03): [REDACTED] received the [REDACTED] Acts disclosure signed and dated[REDACTED]]y the borrower.

Buyer Comment (2019-07-03): See trailing documents

06/18/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237934

Compliance

State Compliance

State Defect

Rhode Island Home Loan (High Cost Analysis Not In File)

Rhode Island Home Loan: Loan file did not contain record(s) documenting hi[REDACTED] home loan analysis.

Reviewer Comment (2019-07-03): Valid CoC form dated [REDACTED] form program change from fixed to ARM

Reviewer Comment (2019-07-03): Document was not provided.

Buyer Comment (2019-07-03): See trailing documents

06/21/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237935

Compliance

State Compliance

State Defect

Rhode Island Home Loan (Prohibited Acts and Practices Regarding Home Loans Disclosure Not Provided)

Rhode Island Home Loan: Prohibited Acts and Practices Regarding Home Loans disclosure not provided.

Reviewer Comment (2019-07-03): [REDACTED] received the [REDACTED] Acts disclosure signed and dated[REDACTED]]y the borrower.

Buyer Comment (2019-07-03): See trailing documents

06/18/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237936

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure AIR Table Minimum Interest Rate

TI[REDACTED]A Integrated Disclosur[REDACTED]ustable Interest Rate Table: Final Closing Disclosure provided on [REDACTED] disclosed a Minimum Interest Rate that does not match the actual minimum interest rate for the loan.

The Note indicates the minimum interest rate is equal to the Margin of[REDACTED]. Final CD indicates the minimum interest rate is[REDACTED]

Reviewer Comment (2019-07-03): Corrected Note and ARM rider provided.

Reviewer Comment (2019-07-03): Letter of Explanation & Corrected Closing Disclosure required to cure. Note reflects minim rate to be the margin which is [REDACTED]. Page 4 of the Final CD reflects [REDACTED]. Trailing documents does not address this issue as the documents received were a 1003 and Change of Circumstance Form

Buyer Comment (2019-07-03): See updated signed Note and ARM rider showing correct floor rate.

06/25/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127758

[REDACTED]

23237937

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Projected P&I Min Payment Adjustable Rate Subsequent Payments

TI[REDACTED]A Integrated Disclosur[REDACTED]jected Payments: Final Closing Disclosure provided on XXXXX disclosed a periodic principal and interest payment for payment stream 2 that does not match the actual payment for the loan.

The Note indicates the minimum interest rate is equal to the Margin of[REDACTED]. Final CD indicates the minimum interest rate is[REDACTED] which is affecting the P&I payments disclosed.

Reviewer Comment (2019-07-03): Corrected Note and ARM rider provided.

Reviewer Comment (2019-07-03): Letter of Explanation, Proof of Delivery, and Corrected CD required to cure. Note reflects minim rate to be the margin which is [REDACTED]. Page 4 of the Final CD reflects [REDACTED]. Trailing documents does not address this issue as the documents received were a 1003 and Change of Circumstance Form

Buyer Comment (2019-07-03): See trailing documents

06/25/2019

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

Non QM

216127758

[REDACTED]

23237938

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Projected P&I Min Payment Adjustable Rate Subsequent Payments

The Note indicates the minimum interest rate is equal to the Margin of[REDACTED]. Final CD indicates the minimum interest rate is[REDACTED] which is affecting the P&I payments disclosed.

06/25/2019

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

Non QM

216127758

[REDACTED]

23237939

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Projected P&I Min Payment Adjustable Rate Subsequent Payments

The Note indicates the minimum interest rate is equal to the Margin of[REDACTED]. Final CD indicates the minimum interest rate is[REDACTED] which is affecting the P&I payments disclosed.

06/25/2019

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

Non QM

216127758

[REDACTED]

23237940

Compliance

Federal Compliance

TRID

TRID Home Loan Toolkit Provided

Truth in Lending Act (2015): Creditor or broker did not provide Your Home Loan Toolkit Disclosure to applicant.

Home Loan Toolkit Disclosure not located in fle.

Buyer Comment (2019-07-03): [REDACTED] has elected to waive this exception.

06/18/2019

Primary

Purchase

No Defined Cure

Non QM

216127758

[REDACTED]

23237941

Compliance

Federal Compliance

Federal HPML

TIL Higher Priced Mortgage Loan Safe Harbor

TILA HPML appraisal Rule (Do[REDACTED]k 2014): Safe Harbor requirements not satisfied.

Buyer Comment (2019-07-03): [REDACTED] has elected to waive this exception.

06/18/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237943

Compliance

Federal Compliance

TILA

ARM Disclosure Timing Test

TIL variable rate disclosure: ARM loan program disclosure not provided to the borrower within three (3) days of application.

Reviewer Comment (2019-07-03): Valid CoC form dated [REDACTED] form program change from fixed to ARM

Buyer Comment (2019-07-03): Please see valid change form dated [REDACTED] and signed initial 1003 showing fixed product

Reviewer Comment (2019-07-03): ARM disclosure dated[REDACTED]]ot within 3 days of application date[REDACTED]]s multiple applications in file stating both Fixed and ARM.

Buyer Comment (2019-07-03): See ARM disclosure provided

06/21/2019

Primary

Purchase

No Defined Cure

Non QM

216127758

[REDACTED]

23237944

Compliance

Federal Compliance

TILA

CHARM Booklet Disclosure Timing

TIL variable rate disclosure: Consumer Handbook on Adjustable Rate Mortgages, CHARM Booklet, not provided to the borrower within three (3) days of application.

Reviewer Comment (2019-07-03): Valid CoC form dated [REDACTED] form program change from fixed to ARM

Buyer Comment (2019-07-03): See valid change form provided

Reviewer Comment (2019-07-03): A[REDACTED]ARM disclosure dated[REDACTED]]ot within 3 days of application date[REDACTED]multiple applications in file stating both Fixed and ARM.

Buyer Comment (2019-07-03): ARM disclosure provided also denotes acknowledgment of receipt of CHARM booklet on last page.

Buyer Comment (2019-07-03): Program changed from Fixed To ARM as of [REDACTED]]hange of Circumstance Form in file - see LE dated[REDACTED]

06/21/2019

Primary

Purchase

No Defined Cure

Non QM

216127758

[REDACTED]

23237946

Compliance

State Compliance

State Defect

Rhode Island Home Loan (Prohibited Acts and Practices Regarding High-Cost Home Loans Disclosure Not Provided Timely)

Rhode Island Home Loan: Prohibited Acts and Practices Regarding Hi[REDACTED] Home Loans disclosure not provided within three (3) days of application.

Disclosure dated [REDACTED] application date plus 3 days [REDACTED].

Reviewer Comment (2019-07-03): Valid CoC form dated [REDACTED] form program change from fixed to ARM

Buyer Comment (2019-07-03): See valid change form changing program

06/21/2019

Primary

Purchase

Non QM

216127758

[REDACTED]

23237947

Compliance

State Compliance

State Defect

Rhode Island Home Loan (Prohibited Acts and Practices Regarding Home Loans Disclosure Not Provided Timely)

Rhode Island Home Loan: Prohibited Acts and Practices Regarding Home Loans disclosure not provided within three (3) [REDACTED] days of application.

Disclosure dated [REDACTED] application date plus 3 days [REDACTED].

Reviewer Comment (2019-07-03): Valid CoC form dated [REDACTED] form program change from fixed to ARM

Buyer Comment (2019-07-03): See valid change form provided

06/21/2019

Primary

Purchase

Non QM

216127760

[REDACTED]

23237976

Compliance

Federal Compliance

Missing Disclosure

Possible Federal Loan Originator Compensation - LO Comp Disclosure Not Provided: Unable to determine from evidence in the loan file if compensation was based on a term of the transaction.

Buyer Comment (2019-07-03): [REDACTED]has elected to waive this exception.

06/26/2019

Primary

Purchase

Non QM

216127772

[REDACTED]

23238061

Credit

Loan Package Documentation

Application / Processing

Missing Document

Missing Document: Approval not provided

Reviewer Comment (2019-07-19): Approval provided.

04/03/2019

Primary

Purchase

Non QM

216127772

[REDACTED]

23238062

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Provided Prior to Date Performed

Reviewer Comment (2019-07-19): Updated information provided.

Buyer Comment (2019-07-19): the appraisal was completed [REDACTED]and it was sent to the borrower [REDACTED] the reason the appraisers signature date on the report is the 30th is because that is the revised report

04/03/2019

Primary

Purchase

Non QM

216127772

[REDACTED]

23238063

Compliance

Federal Compliance

Federal HPML

Federal HPML 2014 Non Compliant

Federal High[REDACTED]ed Mortgage Loan: APR on subject loan of 6.88630% or Final Disclosure APR of 6.96600% is in excess of allowable threshold of APOR[REDACTED] + 1.5%, or 6.44000%. N[REDACTED]liant Higher Priced Mortgage Loan.

Reviewer Comment (2019-07-19): Updated information provided.

Buyer Comment (2019-07-19): the loan is HPML with impounds however we pass [REDACTED] high cost

04/03/2019

Primary

Purchase

Non QM

216127772

[REDACTED]

23238064

Compliance

Federal Compliance

Federal HPML

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

TILA HPML Appraisal Rule (Do[REDACTED]k 2014): Appraisal not obtained prior to consummation.

Reviewer Comment (2019-07-19): Updated information provided.

Buyer Comment (2019-07-19): the appraisal was received [REDACTED]

04/03/2019

Primary

Purchase

Non QM

216127772

[REDACTED]

23238066

Compliance

Federal Compliance

TRID Defect

TRID Closing Disclosure Lump Sum Allocation

Lump sum lend[REDACTED]ller credit disclosed on Closing Disclosure applied to offset n[REDACTED]nce charges first, then finance charges pursuant to client's election as permitted under SFIG RMBS 3.0 TRID Compliance Review Scope Version 2.0 (updated [REDACTED] [REDACTED]). An[REDACTED]atory lending points and fees testing are not impacted.

Buyer Comment (2019-07-19): please waive

06/19/2019

Primary

Purchase

Non QM

216127772

[REDACTED]

23238067

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure Assumption

TI[REDACTED]A Integrated Disclosur[REDACTED]n Disclosures: Final Closing Disclosure provided on [REDACTED] incorrectly disclosed whether the loan allows for Assumption. ([REDACTED])

Loan is ARM. Assumption verbiage on Note and CD marked not allowed

Buyer Comment (2019-07-19): This was a system glitch and has now been fixed

04/01/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127772

[REDACTED]

23238068

Compliance

Federal Compliance

TRID

TRID Final Closing Disclosure With Selle[REDACTED]al Closing Costs Exceeds Limits

Total cure amount $840.50

Reviewer Comment (2019-07-19): Upon further review, the exception is cleared.

04/02/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127772

[REDACTED]

23238069

Compliance

Federal Compliance

TRID

TRID Seller Closing Disclosure Fees Lesser than Final Closing Disclosure Seller Paid Fees

TI[REDACTED]A Integrated Disclosure: the Seller's final CD total seller paid fee amounts do not match the values used for compliance testing. ([REDACTED])

Consumer CD reflecting seller paid property tax at closing when No fees were reflecting on Seller CD.

Reviewer Comment (2019-07-19): Okay to waive per client.

04/26/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127772

[REDACTED]

23238070

Compliance

Federal Compliance

TRID Defect

TRID Ten Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Ten Percent Fee Tolerance exceeded. Total amount of $502.00 exceeds tolerance of $375.00 plus 10% or $412.50. Insufficient or no cure was provided to the borrower. (0)

Recording fee with 33% increased exceeded 10% tolerance

Reviewer Comment (2019-07-19): Upon further review, the exception is cleared.

04/02/2019

Primary

Purchase

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

Non QM

216127772

[REDACTED]

23238071

Compliance

Federal Compliance

TRID Defect

TRID Zero Percent Tolerance Violation Without Sufficient Cure Provided

TI[REDACTED]A Integrated Disclosure: Zero Percent Fee Tolerance exceeded for Titl[REDACTED]ers Coverage Premium. Fee Amount of $751.00 exceeds tolerance of $0.00. Insufficient or no cure was provided to the borrower. (7744)

LE placed fee in section H with "optional" when CD placed fee in section C without "optional" causing variance.

Reviewer Comment (2019-07-19): Upon further review, the exception is cleared.

Buyer Comment (2019-07-19): Section C is borrower shopped for therefore there is no tolerance

04/02/2019

Primary

Purchase

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

Non QM

216127772

[REDACTED]

23238073

Credit

Income / Employment

Income Documentation

Income / Employment

Income Docs Missing:

Borrower: [REDACTED]

Verification of [REDACTED] existence required which missing in file.

Reviewer Comment (2019-07-19): Verification provided.

04/03/2019

Primary

Purchase

Non QM

216127772

[REDACTED]

23238074

Credit

Guideline

Guideline Issue

Guideline

Asset qualifications not met per guidelines.

Total assets: ___; Reserves: ___

[REDACTED]Bank Statement Program Guideline requires All parties listed on each bank account must be included as borrowers on the loan. [REDACTED] is n[REDACTED]owing spouse who also is a joint account owner on [REDACTED] [REDACTED] used for income. Missing lender approved exception in file when guideline warrant for.

Borrower has a disposable income of $[REDACTED]

PITIA reserves above minimum by 6 months or greater. Number of PITIA Reserves: [REDACTED]

DTI below max by 5% or greater. DTI: [REDACTED]

Originator

Originator

Originator

Reviewer Comment (2019-07-19): Waived with comp factors noted

Reviewer Comment (2019-07-19): Exception provided however compensating factors do not seem to fall in line. First noted was low LTV however LTV on loan is [REDACTED] with the max for the program being [REDACTED]. Second was years on job however we only see [REDACTED] with any job history provided.

06/24/2019

Primary

Purchase

Non QM

216127772

[REDACTED]

23238075

Compliance

Federal Compliance

ECOA

ECOA Appraisal - Appraisal Waiver Less than 3 Days From Consummation

ECOA Valuations Rule (Do[REDACTED]k 2014): Borrower provided appraisal waiver less than three (3) [REDACTED] days prior to consummation. (Type:Seconda[REDACTED]XXXX)

waiver was signed [REDACTED].

Reviewer Comment (2019-07-19): Provided to borrower within proper time frame.

Buyer Comment (2019-07-19): the borrower received the original appraisal [REDACTED] see email in file

04/03/2019

Primary

Purchase

Non QM

216127772

[REDACTED]

23238076

Compliance

Federal Compliance

Missing Non-Required Data

(Missing Data) Last Rate Set Date

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

rate lock documents not provided.

Reviewer Comment (2019-07-19): Rate lock provided.

04/03/2019

Primary

Purchase

Non QM

216127772

[REDACTED]

23238077

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Escrowed Property Costs Year 1

TI[REDACTED]A Integrated Disclosur[REDACTED]n Disclosures: Amount of Escrowed Property Costs over Year 1 of [REDACTED] on Final Closing Disclosure provided on [REDACTED] not accurate. ([REDACTED])

Amount on CD reflects $527.85 vs calculated amount of $447.84.

Reviewer Comment (2019-07-19): Letter of Explanation & Corrected Closing Disclosure provided

Buyer Comment (2019-07-19): please see upload

06/27/2019

Primary

Purchase

Letter of Explanation & Corrected Closing Disclosure

Non QM

216127772

[REDACTED]

23238078

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Escrow Payment

TI[REDACTED]A Integrated Disclosur[REDACTED]jected Payments: Final Closing Disclosure provided on [REDACTED] disclosed an escrow payment for payment stream 1 that does not match the actual payment for the loan. ([REDACTED])

Amount on CD reflects $527.85 vs calculated amount of $447.84.

Reviewer Comment (2019-07-19): Letter of Explanation, Proof of Delivery, Corrected CD provided

Buyer Comment (2019-07-19): please see upload

06/27/2019

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

Non QM

216127772

[REDACTED]

23238079

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Escrow Payment

TI[REDACTED]A Integrated Disclosur[REDACTED]jected Payments: Final Closing Disclosure provided on [REDACTED] disclosed an escrow payment for payment stream 2 that does not match the actual payment for the loan. ([REDACTED])

Amount on CD reflects $527.85 vs calculated amount of $447.84.

Reviewer Comment (2019-07-19): Letter of Explanation, Proof of Delivery, Corrected CD provided

Buyer Comment (2019-07-19): please see upload

06/27/2019

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

Non QM

216127772

[REDACTED]

23238080

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Escrow Payment

TI[REDACTED]A Integrated Disclosur[REDACTED]jected Payments: Final Closing Disclosure provided on [REDACTED] disclosed an escrow payment for payment stream 3 that does not match the actual payment for the loan. ([REDACTED])

Amount on CD reflects $527.85 vs calculated amount of $447.84.

Reviewer Comment (2019-07-19): Letter of Explanation, Proof of Delivery, Corrected CD provided

Buyer Comment (2019-07-19): please see upload

06/27/2019

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

Non QM

216127772

[REDACTED]

23238081

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Escrow Payment

TI[REDACTED]A Integrated Disclosur[REDACTED]jected Payments: Final Closing Disclosure provided on [REDACTED] disclosed an escrow payment for payment stream 4 that does not match the actual payment for the loan. ([REDACTED])

Amount on CD reflects $527.85 vs calculated amount of $447.84.

Reviewer Comment (2019-07-19): Letter of Explanation, Proof of Delivery, Corrected CD provided

06/27/2019

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

Non QM

216127772

[REDACTED]

23238082

Compliance

Federal Compliance

TRID Defect

TRID Final Closing Disclosure Estimated Total Minimum Payment Adjustable Rate

TI[REDACTED]A Integrated Disclosur[REDACTED]jected Payments: Final Closing Disclosure provided on [REDACTED] disclosed an Estimated Total Monthly Payment for payment stream 1 that does not match the actual total payment for the loan. ([REDACTED])

Amount on CD reflects $527.85 vs calculated amount of $447.84.

Reviewer Comment (2019-07-19): Letter of Explanation, Proof of Delivery, Corrected CD provided

Buyer Comment (2019-07-19): please see upload

Buyer Comment (2019-07-19): pccd and loe to borrower

06/27/2019

Primary

Purchase

TILA Material Disclosure Cure - Provide the following: Letter of Explanation, Proof of Delivery, Corrected CD, and Re-open Rescission if Applicable

Non QM

216127788

[REDACTED]

23238225

Credit

Missing Document

General

Missing Document

Missing Document: Lease Agreement not provided

No lease agreement in doc[REDACTED]raisal is missing from loan document to confirm occupancy.

Reviewer Comment (2019-05-31): Agree with lender. [REDACTED] included in appraisal.

Buyer Comment (2019-05-31): Appraisal uploaded for review. Purchase transaction. [REDACTED] included in appraisal.

04/08/2019

Investment

Purchase

216127788

[REDACTED]

23238226

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: [REDACTED] Purpose Certificate not provided

No [REDACTED] purpose certificate located in docs

Reviewer Comment (2019-05-31): [REDACTED] Purpose Cert provided

Buyer Comment (2019-05-31): [REDACTED] Purpose Cert provided

04/24/2019

Investment

Purchase

216127788

[REDACTED]

23238227

Credit

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal not provided

Appraisal is missing from loan docs

Reviewer Comment (2019-05-31): Appraisal provided

Buyer Comment (2019-05-31): Appraisal uploaded for review.

04/08/2019

Investment

Purchase

216127788

[REDACTED]

23238231

Property

Missing Document

Appraisal Documentation

Missing Document

Loan is to go into a securitization, and full appraisal was not provided.

Appraisal is missing from loan docs

Reviewer Comment (2019-05-31): Appraisal provided

Buyer Comment (2019-05-31): Appraisal uploaded for review.

04/08/2019

Investment

Purchase

216127788

[REDACTED]

23238232

Credit

Property - Appraisal

General Appraisal Requirements

Property - Appraisal

Rent schedule is missing on lease property

No lease in doc[REDACTED] is missin[REDACTED]1007 located in docs

Reviewer Comment (2019-05-31): Agree with lender. [REDACTED] included in appraisal.

Buyer Comment (2019-05-31): Appraisal uploaded with [REDACTED] for review.

04/08/2019

Investment

Purchase

216127788

[REDACTED]

23238233

Credit

Credit Documentation

Credit

The appraisal does not contain rental analysis and thus casts doubt on the [REDACTED] purpose of the loan.

Appraisal is missin[REDACTED]1007 located in docs

Reviewer Comment (2019-05-31): Agree with lender. [REDACTED] included in appraisal.

Buyer Comment (2019-05-31): Appraisal uploaded with [REDACTED] for review.

04/08/2019

Investment

Purchase

216127788

[REDACTED]

23238234

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.

No lease in doc[REDACTED]raisal is missin[REDACTED]1007 located in docs

Reviewer Comment (2019-05-31): Agree with lender. [REDACTED] included in appraisal.

Buyer Comment (2019-05-31): Appraisal uploaded for review.

04/08/2019

Investment

Purchase

216127790

[REDACTED]

23238240

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Document: Closing Protection Letter not provided

Subject property is in [REDACTED]. The title agency preparing the title abstract must provide an E&O Policy with minimum coverage of $[REDACTED] per claim and $[REDACTED] in aggregate with a deductible of no more than $[REDACTED]. The title insurer must have an "A" or better rating from [REDACTED] rating service.

Reviewer Comment (2019-05-31): Closing Protection Letter provided

02/22/2019

Investment

Purchase

216127790

[REDACTED]

23238244

Credit

Credit Eligibility

Credit

Borrower has

Credit Report: Origina[REDACTED]Borrower: [REDACTED] ___ open Tradelines which is less than the minimum required by guidelines.

Guidelines require borrower must have a minimum of 2 trade lines that have been active within the [REDACTED] prior to the date of the credit report. Borrower only has 1 active trade line.

31 months reserves > 3 months guideline minimu[REDACTED]rowers have verified reserves of $[REDACTED]

[REDACTED] representative FICO score > 620 guideline minimu[REDACTED] points above guideline minimum

[REDACTED] LTV < 80 guideline ma[REDACTED] lower than required by program guidelines

Originator

Originator

Originator

Reviewer Comment (2019-05-31): 1 active and many inactive tgradelines vs program requirement of a minimum of 2 active and 1 inactive tradelines.

02/27/2019

Investment

Purchase

216127792

[REDACTED]

23238260

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Lien(s) negatively impacting title

Judgement on title for $[REDACTED] dated [REDACTED]

Reviewer Comment (2019-05-31): Notice of [REDACTED] provided.

Buyer Comment (2019-05-31): Uploaded For Review: Satisfaction

04/23/2019

Investment

Purchase

216127792

[REDACTED]

23238261

Credit

Asset

Asset Calculation / Analysis

Asset

Available for Closing is insufficient to cover Cash From Borrower.

Reviewer Comment (2019-05-31): Final CD for primary residence for closing and reserves.

Buyer Comment (2019-05-31): Uploaded For Review: CD for closinf and reserves

04/19/2019

Investment

Purchase

216127798

[REDACTED]

23238274

Credit

Insurance

Insurance Analysis

Insurance

Insufficient Coverage: Hazard insurance coverage amount is insufficient.

Coverage of [Redacted] does not meet minimum of [Redacted] estimated cost new ([Redacted] x [Redacted]=[Redacted])

Reviewer Comment (2019-03-01): Replacement Cost Estimator provided.

Buyer Comment (2019-03-01): Replacement Cost Estimator

12/17/2018

Investment

Purchase

216127802

[REDACTED]

23238302

Credit

Missing Document

General

Missing Document

Missing Document: Lease Agreement not provided

Subject is currently listed for sale and the Appraisal indicates the property is [REDACTED] occupied..

Reviewer Comment (2019-05-31): Agree with lender. SFR vacant property rider provided.

Buyer Comment (2019-05-31): This is a purchase. Lease not required.

02/04/2019

Investment

Purchase

216127802

[REDACTED]

23238304

Credit

Property - Appraisal

Appraisal Documentation

Property - Appraisal

Missing Document: Appraisal not provided

Transaction is a n[REDACTED]s length sale between family friends; per Guidelines (9.1, Purchase Transactions), two appraisals are required for a n[REDACTED]s length purcha[REDACTED]le.

DSC ratio is [REDACTED], [REDACTED] > program requirement of 100%

LTV is [REDACTED], 5% < max program of [REDACTED]

Credit score is [REDACTED], 63 points > program requirement of [REDACTED]

Originator

Originator

Originator

Reviewer Comment (2019-05-31): Do not require a second appraisal on subject non-arm's length purchase transaction vs program requirement 2 appraisals are required on non-arm's length transaction.

Buyer Comment (2019-05-31): Please see attached Exception.

03/14/2019

Investment

Purchase

216127802

[REDACTED]

23238305

Credit

Miscellaneous

Guideline

Credit Exception:

Loan is not Eligible for Investment occupancy. Subject transaction is n[REDACTED]s length and per Guidelines (Sec 9.1): If the purchase of the Subject Property is a "n[REDACTED] length transaction" as such term is described in [REDACTED] Guide, then (i) all [REDACTED] Mae requirements for n[REDACTED] length transactions, including that the Subject Property must be the Borrowers' primary residence apply, and (ii) two appraisal are required regardless of loan size.

DSC ratio is [REDACTED], [REDACTED] > program requirement of 100%

LTV is [REDACTED], 5% < max program of [REDACTED]

Credit score is [REDACTED], 63 points > program requirement of [REDACTED]

Originator

Originator

Originator

03/14/2019

Investment

Purchase

216127802

[REDACTED]

23238306

Credit

Loan Package Documentation

Application / Processing

Property - Appraisal

Missing Valuation:

Valuation Type: Appraisa[REDACTED]aluation Report Date: <empty> ___ is missing

Transaction is a n[REDACTED]s length sale between family friends; per Guidelines (9.1, Purchase Transactions), two appraisals are required for a n[REDACTED]s length purcha[REDACTED]le.

DSC ratio is [REDACTED], [REDACTED] > program requirement of 100%

LTV is [REDACTED], 5% < max program of [REDACTED]

Credit score is [REDACTED], 63 points > program requirement of [REDACTED]

Originator

Originator

Originator

03/14/2019

Investment

Purchase

216127804

[REDACTED]

23238294

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Document: Closing Protection Letter not provided

Missing E&O Policy with minimum coverage of $[REDACTED] per claim and $[REDACTED] in aggregate with a deductible of no more than $[REDACTED]. The title insurer must have an "A" or better rating from [REDACTED].

Reviewer Comment (2019-05-31): Closing Protection Letter provided

02/13/2019

Investment

Purchase

216127806

[REDACTED]

23238315

Credit

Miscellaneous

Guideline

Credit Exception:

Condo has fidelity of $[REDACTED] and the requirement is $[REDACTED]. Condo has more than 50% of the total units that are investor . There are 1,368 that are own[REDACTED]pied and 2,617 that are investor (1,617 owned by sponsor) Lender approved exception

No single entity owns more than 15% of the units

Subject is free and clear and borrower owns primary residence in [REDACTED]

Reserves are [REDACTED], [REDACTED] > program requirement of [REDACTED] (12 months required plus 2 months for 1 additional mortgaged investment property)

Long established condo, project marketed in [REDACTED], an no pending litigation

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Reviewer Comment (2019-05-31): [REDACTED] has elected to waive this exception based on compensating factors.

05/06/2019

Investment

Refinance - Cash-out - Other

216127806

[REDACTED]

23238316

Credit

Miscellaneous

Guideline

Credit Exception:

Allow the use of [REDACTED] account for all down payment, closing costs, reserves and the monthly ach payment as borrower does not have a [REDACTED] bank account vs program requirement that [REDACTED] funds used down payment and closing costs must be transferred to the borrower's [REDACTED] account. Lender acknowledged exception.

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Reviewer Comment (2019-05-31): [REDACTED] has elected to waive this exception based on compensating factors.

05/09/2019

Investment

Refinance - Cash-out - Other

216127809

[REDACTED]

23238322

Credit

Missing Document

General

Missing Document

Missing Document: Lease Agreement not provided

File is missing the lease agreement for the subject property. Appraisal reflects the property is [REDACTED].

[REDACTED] perfect mortgage history

Low LTV [REDACTED]

Originator

Originator

Reviewer Comment (2019-06-04): Waived with comp factors

Buyer Comment (2019-06-03): [REDACTED] funds , lease agreement was not required

06/04/2019

Investment

Purchase

216127811

[REDACTED]

23238323

Credit

Credit Calculation / Analysis

Guideline

Guideline Requirement: Representative FICO score discrepancy.

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

Lender exception for fico of [REDACTED], minimum [REDACTED] required.

Two open mortgages reporting 0x30 since inception of earliest opened XXXXXX. Borrower credit history shows paid as agreed since [REDACTED] discharge XXXXXX

DSC [REDACTED], [REDACTED] > program requirement of 100%

[REDACTED] months reserves > 3 months guideline minimum

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Reviewer Comment (2019-06-14): [REDACTED] has elected to waive this exception based on compensating factors.

06/04/2019

Investment

Refinance - Cash-out - Other

216127813

[REDACTED]

23238334

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Mising Document: Closing Protection Letter not provided.

The CPL does not reflect all property addresses

Reviewer Comment (2019-06-04): CPL with addendum that includes all property addresses provided.

12/05/2018

Investment

Refinance - Cash-out - Other

216127813

[REDACTED]

23238335

Credit

Insurance

Insurance Documentation

Insurance

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

The property on H[REDACTED] does not reflect any Rent Loss Insurance when 6 months is required.

Reviewer Comment (2019-06-04): Evidence of Rent loss coverage provided

12/05/2018

Investment

Refinance - Cash-out - Other

216127813

[REDACTED]

23238336

Credit

Insurance

Insurance Analysis

Insurance

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

Hazard Insurance Policy Expiration Date ___, Note Date ___

The policy on [REDACTED] expires on [REDACTED] and was not paid through close nor any automatic renewal noted.

Reviewer Comment (2019-06-04): Evidence of Rent loss coverage provided

12/05/2018

Investment

Refinance - Cash-out - Other

216127817

[REDACTED]

23238349

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Document: Title Preliminary not provided

Reviewer Comment (2019-06-14): [REDACTED] received the title commitment dated[REDACTED]].

06/05/2019

Investment

Refinance - Cash-out - Other

216127817

[REDACTED]

23238351

Credit

Insurance

Insurance Analysis

Insurance

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

Reviewer Comment (2019-06-14): [REDACTED] received the HOI policy containing the Mortgagee clause with ISAOA.

06/05/2019

Investment

Refinance - Cash-out - Other

216127817

[REDACTED]

23238352

Credit

Legal / Regulatory / Compliance

Title / Lien Defect

Legal / Regulatory / Compliance

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

Reviewer Comment (2019-06-14): [REDACTED] received the title commitment dated[REDACTED]].

06/05/2019

Investment

Refinance - Cash-out - Other

216127817

[REDACTED]

23238353

Credit

Miscellaneous

Guideline

Credit Exception:

Lender exception in file. Current appraisal with property rights as a Leasehold vs program requirement that a new appraisal showing property rights as Fee Simple with Fee Simple comparables

Leasehold property in XXXXXX which will become Fee Simple upon redecoration of the Leasehold Redemption which will be paid off with this transaction.

[REDACTED] months reserves > 3 months guideline minimum

Credit score [REDACTED], 31 points > program requirement of [REDACTED]

DSC [REDACTED], [REDACTED] > program requirement of 100%

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Originator Pre-Close

Reviewer Comment (2019-06-14): [REDACTED] has elected to waive this exception based on compensating factors.

06/04/2019

Investment

Refinance - Cash-out - Other

216127829

[REDACTED]

23238387

Credit

Loan Package Documentation

Closing / Title

Loan Package Documentation

Missing Document: Closing Protection Letter not provided

Missing the E&O Policy with minimum coverage of $[REDACTED] per claim and $[REDACTED] in aggregate with a deductible of no more than $[REDACTED]. The title insurer must have an "A" or better rating from [REDACTED].

Reviewer Comment (2019-07-03): Closing Protection Letter not provided

06/27/2019

Investment

Refinance - Cash-out - Other

216127831

[REDACTED]

23238390

Credit

Missing Document

General

Missing Document

Missing Document: Lease Agreement not provided

Subject is refinance 3 unit [REDACTED] occupied.

Reviewer Comment (2019-07-03): Agree with lender.

Buyer Comment (2019-07-03): Purchase transaction of [REDACTED] property - Operating Income Statement also reflects both units "[REDACTED]". Please clear.

06/14/2019

Investment

Purchase

216127831

[REDACTED]

23238391

Credit

Loan Package Documentation

Closing / Title

Missing, Incorrect, or Incomplete HUD-1

Missing Final HUD-1

H[REDACTED]t contained in the loan file.

Reviewer Comment (2019-07-03): Final HUD-1 provided.

Buyer Comment (2019-07-03): Final Alta provided

06/22/2019

Investment

Purchase

216127831

[REDACTED]

23238392

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: [REDACTED] Purpose Certificate not provided

[REDACTED] Purpose Certificate not contained in the loan file.

Reviewer Comment (2019-07-03): [REDACTED] Purpose Certificate provided

Buyer Comment (2019-07-03): [REDACTED] Purpose Cert provided

06/22/2019

Investment

Purchase

216127831

[REDACTED]

23238394

Credit

Insurance

Insurance Analysis

Insurance

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

Hazard Insurance effective date [REDACTED] vs Note date of [REDACTED]

Reviewer Comment (2019-07-03): [REDACTED] received the HOI policy dated[REDACTED]]ith elective dates[REDACTED][REDACTED].

Buyer Comment (2019-07-03): See revised EOI provided.

06/18/2019

Investment

Purchase

216127832

[REDACTED]

23238397

Credit

Loan Package Documentation

Application / Processing

Loan Package Documentation

Missing Document: Note Addendu[REDACTED]payment not provided

Missing the [REDACTED] Prepayment addendum and rider per the rate lock and loan approval.

Reviewer Comment (2019-07-03): [REDACTED] received the Prepayment addendum to note and revised Security Instrument including the Prepayment rider.

Buyer Comment (2019-07-03): Prepayment Penalty addendum to Note and PPP Rider to Mortgage provided.

06/28/2019

Investment

Refinance - Cash-out - Other