CSMC 2022-NQM1 Trust ABS-15G

Exhibit 99.17

Rating Agency Exceptions Report: 1/11/2022                                  

Loan Information

Exception Information

Initial Overall Grades

Final Overall Grades

Event Level

Loan Number

Loan Number 2

Property State

Purpose

Occupancy

Property Type

DTI

DSCR

FICO

LTV

Note Original Balance

Exception ID

Exception Type

Exception Description

Exception Note

Exception General Comment

Compensating Factors

Exception Status

DBRS

Fitch

Moody's

S&P

DBRS

Fitch

Moody's

S&P

Grade

XXXXXXXXXX

433621400

NJ

Purchase

Non-Owner Occupied

Single Family Detached

0

0.8871

788

74.99 %

XXX

207071

Credit

Debt Service Coverage Ratio

The Debt Service Calculation Worksheet is missing from the loan file.

Documentation provided to cure.

Cleared Exception

D

D

D

D

A

A

A

A

1

XXXXXXXXXX

433621400

NJ

Purchase

Non-Owner Occupied

Single Family Detached

0

0.8871

788

74.99 %

XXX

209436

Credit

Debt Service Coverage Ratio

According to the underwriting guidelines, a minimum DSCR of 1.00 was required. In this case, the DSCR is 0.887.

Updated matrix date 02/01/2021 allows a minimum DSCR of .75

Cleared Exception

D

D

D

D

A

A

A

A

1

XXXXXXXXXX

433621450

NV

Refi - Cash Out

Non-Owner Occupied

PUD

0

0.9327

808

50.00 %

XXX

208247

Credit

Asset Verification

The final Closing Disclosure reflects the borrower was required to bring XXXXXXXX to close. The file did not include any assets, leaving the borrower short funds to close in the amount of $3,434.43.

10/1/2021:  Signed settlement statement in file shows cash from the borrower required.  Unable to locate settlement statement showing cash to borrower, please upload to file.  10/7:  Final settlement statement provided to cure.  Statement confirms cash out.

Cleared Exception

C

C

C

C

A

A

A

A

1

XXXXXXXXXX

433621472

GA

Purchase

Owner Occupied

PUD

36.5

659

72.60 %

XXX

207737

Credit

Income

According to the underwriting guidelines, 2 most recent paystubs dated within 30 days are required. In this case the paystub in file was dated XX/XX/XXXX, the loan closed on XX/XX/XXXX.

10/11/2021:  Seller granted an exception allowing the pay-stubs 15 days outside of document aging requirements.

Disposable Income - Monthly disposable income of $6,160.38, DTI - 36.54% DTI is 18,46 points below the guideline maximum of 55%.

Client Accepted

C

C

C

C

B

B(e)

B

B

2

XXXXXXXXXX

433621472

GA

Purchase

Owner Occupied

PUD

36.5

659

72.60 %

XXX

207738

Credit

Employment

According to the underwriting guidelines, a verbal VOE within 3 calendar days of closing is required on all full documentation loans. In this case, the VOE is missing from the loan file

10/1/2021:  VOE provided is not dated and likelihood of continuance is also not provided.  10/8/2021:  Fully completed VOE provided showing employment verified the day of closing.

Cleared Exception

C

C

C

C

B

B

B

B

1

XXXXXXXXXX

433621496

CA

Purchase

Owner Occupied

Condo Detached

33

723

85.00 %

XXX

207475

Compliance

Loan Estimate

The Application date says XX/XX/XXXX and the SPL, LE and HCO has a date of XX/XX/XXXX. Need LE SPL and HCO dated within three business days of the application date.

Per Seller, valid.  No obvious cure, EV3.

Months Of Reserves - 18.84 months reserves., Disposable Income - Monthly disposable income of $6,495.43, DTI - 32.99% DTI is 22.01 points below guideline maximum DTI of 55%.

Client Accepted

C

C

C

C

C

C

C

C

3

4

XXXXXXXXXX

433621479

FL

Refi - Cash Out

Owner Occupied

Single Family Detached

32.7

740

75.00 %

XXX

A

A

A

A

1