EX-99.5 6 ex99-5.htm AMC EXCEPTION GRADES

 

CSMC 2022-NQM4 Trust ABS-15G

Exhibit 99.5

 

 

 

Customer 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
220067296-001 25971373 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A MD Investment Refinance - Rate/Term D A C A D A No
220067296-001 25971374 Credit Credit Miscellaneous Guideline Credit Exception: Missing access letter for joint account owner to verify this person is the Borrower's spouse to give full value for the account to use for closing costs/reserves. Reviewer Comment (2022-05-05): joint bank statement owned by spouses, no access letter is required


Buyer Comment (2022-05-05): The guarantor attested to being married on the application and the bank statements show two individuals with the same last name and an address that is confirmed to be the primary residence of the guarantor via the application and driver's license.  [redacted] is comfortable using 100% of the funds.
 05/05/2022 1 A MD Investment Refinance - Rate/Term D A C A D A No
220068040-001 25971376 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A UT Investment Refinance - Cash-out - Other D A A A D A No
220066622-001 25971378 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A NJ Investment Purchase D B C B D A No
220066622-001 25971379 Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy. Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___. An exception was not provided for being past the guidelines limits.  Appraised value $[redacted].  Loan amount $[redacted] = [redacted]% LTV.  Appears the Lender used the purchase price of $[redacted] vs the  lower appraised value for LTV calculation. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

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

The representative FICO score exceeds the guideline minimum by at least 40 points.		 lender has commented in [redacted] portal to waive guideline exception, with comp factors Owner

Owner

Owner,Originator		 Reviewer Comment (2022-06-10): lender has commented in [redacted] portal to waive guideline exception, with comp factors


Buyer Comment (2022-06-10): Providing compensating factors for the [redacted]% leverage overage.  Property cash flow is strong at [redacted]5x DSCR.  Qualifying median high FICO is [redacted] with no repayment issues. Validated liquidity is in excess of $[redacted] even after factoring in, cash-in portion of transaction to show a vested equity stake in the project and ample reserves.


Buyer Comment (2022-05-06): Reviewing internally...
 06/10/2022 2 B NJ Investment Purchase D B C B D A No
220064531-001 25971381 Credit Title General Title Title Policy Coverage is less than Original Loan Amount. The Title Policy Amount of ___ is less than the note amount of ___ based on the ___ in file. Title policy less than loan amount. Reviewer Comment (2022-05-17): Exception Cleared : Received Revised Title Commitment Report Dated : [redacted] reflecting Policy Amount of $[redacted]. (Doc ID : D0136)


Buyer Comment (2022-05-16): updated commitment uploaded


Buyer Comment (2022-05-06): reached out.
 05/17/2022 1 A ID Investment Refinance - Cash-out - Other D A B A D A No
220064531-001 25971382 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A ID Investment Refinance - Cash-out - Other D A B A D A No
220068037-001 25971384 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A UT Investment Refinance - Cash-out - Other D A A A D A No
220068064-001 25971391 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A TX Investment Refinance - Cash-out - Other D A A A D A No
220067521-001 25971386 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A MD Investment Purchase D A A A D A No
210046345-001 25971393 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A MD Investment Purchase D B C B D A No
210046345-001 25971394 Credit Credit Miscellaneous Guideline Credit Exception: The address on the automated rental valuation (D0163) is not the subject property address. Reviewer Comment (2022-05-09): updated Housecanary value received, with correct property address, D0208


Buyer Comment (2022-05-06): See attached.
 05/09/2022 1 A MD Investment Purchase D B C B D A No
210046345-001 25971395 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 rent loss coverage amount on the evidence of insurance in file is insufficient to cover the required 6 months. Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.		 lender has added comments in [redacted] portal to waive guideline exception, with comp factors Owner

Owner,Originator		 Reviewer Comment (2022-05-09): lender has added comments in [redacted] portal to waive guideline exception, with comp factors


Buyer Comment (2022-05-06): [redacted] deems this as immaterial to the loan file.   Borrower contributed more than [redacted] of their own funds to the purchase of the property.  DSCR potentially yielding a  DSCR [redacted]X. when the minimum is [redacted]x.
 05/09/2022 2 B MD Investment Purchase D B C B D A No
220066939-001 25971388 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary Valuation is not provided. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A CO Investment Refinance - Rate/Term D A C A D A No
220066939-001 25971389 Credit Credit Miscellaneous Guideline Credit Exception: Notary acknowledgment on DOT/Security Agreement is incomplete.  Missing date and name of person acknowledged. Reviewer Comment (2022-04-29): notary affidavit received


Buyer Comment (2022-04-29): see attached,.


Buyer Comment (2022-04-27): reached out
 04/29/2022 1 A CO Investment Refinance - Rate/Term D A C A D A No
210060749-001 25971397 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-04-05): CDA's were batch uploaded by deal set-up team
 04/05/2022 1 A IL Investment Refinance - Cash-out - Other D A A A D A No
210060279-001 25971399 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-04-05): CDA's were batch uploaded by deal set-up team
 04/05/2022 1 A TX Investment Refinance - Cash-out - Other D A A A D A No
210056098-001 25971401 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A TX Investment Refinance - Cash-out - Other D A A A D A No
220064109-001 25971403 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-04-21): CDA was batch uploaded by deal set-up team
 04/21/2022 1 A NJ Investment Purchase D A A A D A No
210059235-001 25971405 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-03-03): CDA's were batch uploaded by deal set-up team
 03/03/2022 1 A LA Investment Refinance - Rate/Term D B C B D A No
210059235-001 25971406 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided Missing operating agreement for [redacted] as business funds were used for this entity. Reviewer Comment (2022-03-02): non-guarantor assets not utilized for liquidity per lender


Buyer Comment (2022-03-02): Please cancel.  The statement referenced was provided only for sourcing purposes only and not used for qualifying liquidity.
 03/02/2022 1 A LA Investment Refinance - Rate/Term D B C B D A No
210059235-001 25971407 Credit Missing Document General Missing Document Missing Document: Bank Statements - Business not provided Missing additional, consecutive month's statement for [redacted]. Reviewer Comment (2022-03-02): non-guarantor assets not utilized for liquidity per lender


Buyer Comment (2022-03-02): Please cancel...Statement was provided for sourcing purposes only.  Not used for liquidity.
 03/02/2022 1 A LA Investment Refinance - Rate/Term D B C B D A No
210059235-001 25971408 Credit Asset Asset Documentation Asset Insufficient funds for Reserves. Guidelines require ___, and verified reserves are ___. With only $[redacted] in verified funds in file, the loan is short the reserve requirement The Loan to Value (LTV) on the loan is less than the guideline maximum by at least 10%.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 [redacted] deems this as immaterial to the loan file.  Guarantors qualifying credit score of [redacted].  Subject property to yield an approximate DSCR of 3.2x. Owner

Owner

Owner,Originator		 Reviewer Comment (2022-03-11): [redacted] deems this as immaterial to the loan file.  Guarantors qualifying credit score of [redacted].  Subject property to yield an approximate DSCR of [redacted]x.


Buyer Comment (2022-03-11): [redacted] deems this as immaterial to the loan file.   Guarantors qualifying credit score of [redacted].  Subject property to yield an approximate DSCR of [redacted]x.
 03/11/2022 2 B LA Investment Refinance - Rate/Term D B C B D A No
210059235-001 25971409 Credit 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 ___. Reviewer Comment (2022-03-18): duplicate of other asset exception which was waived
 03/18/2022 1 A LA Investment Refinance - Rate/Term D B C B D A No
210054431-001 25971410 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2021-12-03): CDA's were batch uploaded by deal set up team
 12/03/2021 1 A GA Investment Refinance - Cash-out - Other D A A A D A No
220066923-001 25971411 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A PA Investment Refinance - Cash-out - Other D A A A D A No
220064661-001 25971413 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A MO Investment Refinance - Cash-out - Other D A A A D A No
210062747-001 25971421 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A MA Investment Refinance - Cash-out - Other D A A A D A No
220067347-001 25971419 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A NM Investment Refinance - Cash-out - Other D A A A D A No
220067977-001 25971428 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A UT Investment Refinance - Cash-out - Other D A A A D A No
210061064-001 25971425 Credit Guideline Guideline Issue Guideline Hazard Insurance Coverage Amount is insufficient per guidelines. Original Loan Amount: ___; Estimated Cost New: ___; Lender Documented Insured Value: ___ The rent loss coverage provided on the evidence of insurance in file does not equal 6 months coverage as required by guidelines.  Market rent is $[redacted] per month or $[redacted] over six months, while the rental coverage is $[redacted]. The representative FICO score exceeds the guideline minimum by at least 40 points.

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

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.		 lender has commented in [redacted] portal to waive guideline exception, with comp factors Owner

Owner

Owner,Originator		 Reviewer Comment (2022-05-09): lender has commented in [redacted] portal to waive guideline exception, with comp factors


Buyer Comment (2022-05-06): [redacted] deems this as immaterial to the loan file as it is short approximately 1 month coverage.  Guarantors qualifying credit score of [redacted].  DSCR [redacted] when the guideline minimum is 1.15x.
 05/09/2022 2 B NJ Investment Refinance - Cash-out - Other D B C B D A No
210061064-001 25971426 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Note Date:  ___; Lien Position: ___ Reviewer Comment (2022-05-16): CDA received
 05/16/2022 1 A NJ Investment Refinance - Cash-out - Other D B C B D A No
220064741-001 25971415 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A FL Investment Refinance - Cash-out - Other D B B B D A No
220064741-001 25971417 Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy. Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___. Exception with comp factors granted for [redacted]% LTV.  Guidelines require 180 days seasoning or a max of 65%. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Exception with comp factors granted for [redacted]% LTV.  Guidelines require 180 days seasoning or a max of 65%. Owner

Owner,Aggregator		 Reviewer Comment (2022-04-25): lender granted guideline exception, with comp factors, D0236
 04/25/2022 2 B FL Investment Refinance - Cash-out - Other D B B B D A No
220066507-001 25971423 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A IL Investment Refinance - Cash-out - Other D A A A D A No
220067467-001 25971429 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A MI Investment Refinance - Rate/Term D A C A D A No
220067467-001 25971431 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided A COGS is missing for the state of [redacted] dated within 30 days of closing. Reviewer Comment (2022-05-09): COGS in file is acceptable


Buyer Comment (2022-05-06): Please cancel.  Certificate of Good standing in file along with verbal verification of the good standing dated [redacted].  p357 D0166.
 05/09/2022 1 A MI Investment Refinance - Rate/Term D A C A D A No
220067467-001 25971432 Property Appraisal Reconciliation Value Discrepancy Appraisal Reconciliation Loan is to be securitized.  Highest level secondary valuation does not support the value used to qualify.; Sec ID: 7 Note Date:  ___; Lien Position: ___ CDA did not support the original appraised value and another valuation product must be obtained that is within 10% of the appraised value. Reviewer Comment (2022-05-20): Eval.com report received, supporting the original appraised value within 10%


Buyer Comment (2022-05-20): Please see attached eval
 05/20/2022 1 A MI Investment Refinance - Rate/Term D A C A D A No
220066483-001 25971434 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A MS Investment Refinance - Cash-out - Other D B B B D A No
220066483-001 25971435 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Requirement: Minimum Loan Amount discrepancy. Note loan amount of ___ is less than Guideline minimum loan amount of ___. Exception granted to allow a minimum property value below $[redacted] which created an exception of a loan amount of <$[redacted]. Guidelines require min value of $[redacted] and min loan amount of $[redacted]. Comp factors: [redacted] credit score, DSCR >[redacted]. The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.

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

The representative FICO score exceeds the guideline minimum by at least 40 points.		 FICO [redacted] Owner

Owner

Owner,Originator		 Reviewer Comment (2022-04-25): Exception granted to allow a minimum property value below $[redacted] which created an exception of a loan amount of <$[redacted]. Guidelines require min value of $[redacted] and min loan amount of $[redacted]. Comp factors: [redacted] credit score, DSCR >[redacted].
 04/25/2022 2 B MS Investment Refinance - Cash-out - Other D B B B D A No
220067568-001 25971437 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A SC Investment Purchase D A A A D A No
220065856-001 25971440 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A CT Investment Refinance - Cash-out - Other D A A A D A No
220068604-001 25971439 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A TX Investment Refinance - Cash-out - Other D A A A D A No
220068407-001 25971443 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A IL Investment Refinance - Cash-out - Other D A C A D A No
220068407-001 25971444 Credit Guideline Guideline Issue Guideline Hazard Insurance Coverage Amount is insufficient per guidelines. Original Loan Amount: ___; Estimated Cost New: ___; Lender Documented Insured Value: ___ The loan file does not document that the hazard insurance is 100% replacement costs and/or the TIV amount of the property. Reviewer Comment (2022-05-09): DP3 policy and coverage exceeds loan amount, and deemed acceptable


Buyer Comment (2022-05-06): Please cancel.  Policy is DP3 and has $[redacted] in coverage which is sufficient per guidelines.
 05/09/2022 1 A IL Investment Refinance - Cash-out - Other D A C A D A No
220068252-001 25971446 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A UT Investment Refinance - Cash-out - Other D A C A D A No
220068252-001 25971447 Credit Credit Miscellaneous Guideline Credit Exception: COGS is dated [redacted] which is outside of the required 30 day within closing. Reviewer Comment (2022-05-09): Exception Cleared: Associated Received Certificate of Good Standing. Dated: [redacted] Doc ID: D0199.


Buyer Comment (2022-05-06): Updated COGS uploaded
 05/09/2022 1 A UT Investment Refinance - Cash-out - Other D A C A D A No
220065772-001 25971449 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A CT Investment Refinance - Cash-out - Other D A A A D A No
220068608-001 25971451 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A TX Investment Refinance - Cash-out - Other D A A A D A No
220067514-001 25971453 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A PA Investment Refinance - Cash-out - Other D A A A D A No
220065487-001 25971461 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A TX Investment Refinance - Cash-out - Other D B C B D A No
220065487-001 25971462 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Requirement: Minimum Loan Amount discrepancy. Note loan amount of ___ is less than Guideline minimum loan amount of ___. Exception granted for a loan of $[redacted]. Guidelines require a minimum loan amount of $[redacted]. Comp factors: [redacted] credit score, > [redacted] DSCR. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.		 DSCR [redacted] guideline requirement [redacted]. Owner

Owner,Originator		 Reviewer Comment (2022-04-26): Exception granted for a loan of $[redacted]. Guidelines require a minimum loan amount of $[redacted]. Comp factors: [redacted] credit score, > [redacted] DSCR.
 04/26/2022 2 B TX Investment Refinance - Cash-out - Other D B C B D A No
220065487-001 25971463 Credit Credit Miscellaneous Guideline Credit Exception: Exception granted to treat this Borrower as a foreign national with a CO8 Visa. Guidelines do not allow an aslyum applicant. Comp factors: [redacted] credit score, >[redacted] DSCR. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.		 DSCR [redacted] guideline requirement [redacted]. Owner

Owner,Originator		 Reviewer Comment (2022-04-26): Exception granted to treat this Borrower as a foreign national with a CO8 Visa. Guidelines do not allow an aslyum applicant. Comp factors: [redacted] credit score, >[redacted] DSCR.
 04/26/2022 2 B TX Investment Refinance - Cash-out - Other D B C B D A No
220065487-001 25971464 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided The COGS in file is not dated within 30 days of closing as required by guidelines. Reviewer Comment (2022-05-10): Certificate of Good Standing is provided within 30 days of closing Doc ID: D0259, Hence Cleared the Exception.


Buyer Comment (2022-05-09): COGS uploaded
 05/10/2022 1 A TX Investment Refinance - Cash-out - Other D B C B D A No
210062520-001 25971455 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A NC Investment Refinance - Cash-out - Other D B B B D A No
210062520-001 25971456 Credit Credit Miscellaneous Guideline Credit Exception: Exception granted for borrower not having a US bank account set up in the name of the borrowing entity. Guidelines require a US bank account in the name of the borrowing entity that has been open for 60 days. Comp factors: [redacted]credit score, part of a multi pack, borrower has an individual account that is based in the US for over 6 months. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. Reserves [redacted] Owner,Originator Reviewer Comment (2022-04-28): Exception granted for borrower not having a US bank account set up in the name of the borrowing entity. Guidelines require a US bank account in the name of the borrowing entity that has been open for 60 days. Comp factors: [redacted] credit score, part of a multi pack, borrower has an individual account that is based in the US for over 6 months.
 04/28/2022 2 B NC Investment Refinance - Cash-out - Other D B B B D A No
210062523-001 25971458 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A NC Investment Refinance - Cash-out - Other D B B B D A No
210062523-001 25971459 Credit Credit Miscellaneous Guideline Credit Exception: Approved lender exception in file with comp factors for borrower not having a US based bank account set up in the name of the borrowing entity.    Guides require a US based account in the name of the borrowing entity that has been open for 60 days.  Comp factors, FICO [redacted], multi-pack, borrower has individual US bank account for over 6 months. The representative FICO score exceeds the guideline minimum by at least 40 points.

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

Borrower's Experience/Track Record		 Approved lender exception in file with comp factors for borrower not having a US based bank account set up in the name of the borrowing entity.    Guides re3quire a US based account in the name of the borrowing entity that has been open for 60 days.  Comp factors, FICO [redacted], multi-pack, borrower has individual US bank account for over 6 months. Owner

Owner

Aggregator		 Reviewer Comment (2022-04-28): lender granted guideline exception, with comp factors
 04/28/2022 2 B NC Investment Refinance - Cash-out - Other D B B B D A No
220065292-001 25971470 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A GA Investment Refinance - Cash-out - Other D A A A D A No
210062517-001 25971466 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A NC Investment Refinance - Cash-out - Other D A A A D A No
220069226-001 25971468 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A IL Investment Refinance - Cash-out - Other D A A A D A No
220065491-001 25971475 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A GA Investment Refinance - Cash-out - Other D A A A D A No
220068034-001 25971478 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A ID Investment Refinance - Cash-out - Other D A A A D A No
220064069-001 25971477 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A MA Investment Refinance - Cash-out - Other D A A A D A No
220066935-001 25971472 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): cda recieved
 05/16/2022 1 A MI Investment Purchase D A C A D A No
220066935-001 25971473 Credit Missing Document General Missing Document Missing Document: HUD/CD (Asset) not provided The loan file does not contain a fully executed closing statement for the transaction where proceeds are being used for closing/reserves for the subject property. Reviewer Comment (2022-05-10): docs received


Buyer Comment (2022-05-10): 2 month's of bank statements uploaded.  Hud used for large deposit sourcing.
 05/10/2022 1 A MI Investment Purchase D A C A D A No
220066194-001 25971481 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A FL Investment Refinance - Cash-out - Other D A A A D A No
220066940-001 25971483 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A IL Investment Refinance - Cash-out - Other D A C A D A No
220066940-001 25971484 Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy. The LTV of [redacted]% exceeds guidelines of 65% for loan approved using a DSCR of  < [redacted]. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Lender has commented in [redacted] portal to waive guideline exception, with comp factors Owner

Owner,Originator		 Reviewer Comment (2022-05-20): The LTV limit has been updated, based on the updated DSCR calculation


Reviewer Comment (2022-05-20): Lender has commented in [redacted] portal to waive guideline exception, with comp factors


Buyer Comment (2022-05-20): [redacted] deems this as immaterial to the loan file.  Borrower's credit score of [redacted] exceeds the guideline minimum.   Experienced investor with 18 properties.
 05/20/2022 1 A IL Investment Refinance - Cash-out - Other D A C A D A No
220066940-001 25971485 Credit Insurance Insurance Documentation Insurance The Blanket Coverage for a Condo does not meet guidelines. The loan file is missing the blanket insurance policy for the subject property. Reviewer Comment (2022-05-20): Documentation provided. Exception cleared


Buyer Comment (2022-05-20): Please cancel.  Property is a townhouse and not a condo.
 05/20/2022 1 A IL Investment Refinance - Cash-out - Other D A C A D A No
220066745-001 25971494 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220066745-001 25971496 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided Missing OFAC for [redacted] dated within 30 days of closing. Reviewer Comment (2022-05-10): clear OFAC received


Buyer Comment (2022-05-10): All OFACs uploaded.
 05/10/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220066746-001 25971499 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220068042-001 25971501 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A UT Investment Refinance - Cash-out - Other D A A A D A No
220068450-001 25971502 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A GA Investment Refinance - Cash-out - Other D A A A D A No
220068438-001 25971504 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A IL Investment Refinance - Cash-out - Other D A A A D A No
220068869-001 25971508 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A MI Investment Refinance - Cash-out - Other D A A A D A No
220067604-001 25971505 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A WI Investment Purchase D A C A D A No
220067604-001 25971507 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided The COGS in file is not dated within 30 days of closing as required by guidelines. Reviewer Comment (2022-05-19): Exception Cleared : Received Certificate of Good Standing dated within 30 days to closing date. (Doc ID : D0247)


Buyer Comment (2022-05-18): [redacted] COGS uploaded.
 05/19/2022 1 A WI Investment Purchase D A C A D A No
220066780-001 25971511 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A CA Investment Refinance - Cash-out - Other D A C A D A No
220066780-001 25971512 Credit Loan Package Documentation Closing / Title Loan Package Documentation Mising Document: Closing Protection Letter not provided. The CPL in file is not for the subject entity/Guarantor. Reviewer Comment (2022-05-25): Closing Protection Letter is present in the file with Doc Id D0233, hence clear the exception.


Buyer Comment (2022-05-24): Please see attached.


Buyer Comment (2022-05-18): Reached Out
 05/25/2022 1 A CA Investment Refinance - Cash-out - Other D A C A D A No
220067127-001 25971514 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A TX Investment Refinance - Rate/Term D A A A D A No
220069693-001 25971518 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A SC Investment Purchase D A A A D A No
220065506-001 25971516 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-13): CDA's were batch uploaded by deal set up team
 05/13/2022 1 A TX Investment Refinance - Cash-out - Other D A A A D A No
220066548-001 25971519 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A TX Investment Purchase D A A A D A No
220066537-001 25971522 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A NJ Investment Refinance - Cash-out - Other D A C A D A No
220066537-001 25971523 Credit Insurance Insurance Documentation Insurance Insurance Policy Expiration Date is less than 30 days of the Note Date and does not have automatic renewal. Premium collected on HUD but no confirmation of renewal. Reviewer Comment (2022-06-09): Documentation provided. Exception cleared


Buyer Comment (2022-06-09): Please refer to the closing statement in file which shows it was paid at closing.


Reviewer Comment (2022-06-07): invoice received, but it does not indicate this was paid


Buyer Comment (2022-06-07): See attached which shows invoice paid at closing was for renewal.


Buyer Comment (2022-05-16): reached out.
 06/09/2022 1 A NJ Investment Refinance - Cash-out - Other D A C A D A No
220067256-001 25971525 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A FL Investment Refinance - Cash-out - Other D B C B D A No
220067256-001 25971527 Credit Credit Miscellaneous Guideline Credit Exception: Approved lender exception in file with comp factors. Exception for condo complex allows rentals less than 30 days.  Guidelines do not allow condo complex to allow daily or weekly rentals.  Comp factors; FICO [redacted], calling condo non-warrantable; DSCR > 1.25. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrower has owned the subject property for at least 5 years.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 s than 30 days.  Guidelines do not allow condo complex to allow daily or weekly rentals.  Comp factors; FICO [redacted], calling condo non-warrantable; DSCR > 1.25. Owner

Owner

Owner,Aggregator		 Reviewer Comment (2022-05-03): lender granted guideline exception, with comp factors, D0178
 05/03/2022 2 B FL Investment Refinance - Cash-out - Other D B C B D A No
220067256-001 25971528 Credit Credit Miscellaneous Guideline Credit Exception: Appraisal, note, security agreement reflect Pinellas county. Title, Exhibit A legal description of premises, declaration of condo, taxes, all deeds, flood cert all reflect [redacted] County.  Please provide corrected documents and ensure the new mortgage is recorded in the correct county of [redacted] County as reflected on title and other legal documents within the file. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

Borrower has owned the subject property for at least 5 years.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 s than 30 days.  Guidelines do not allow condo complex to allow daily or weekly rentals.  Comp factors; FICO [redacted], calling condo non-warrantable; DSCR > 1.25. Owner

Owner

Owner,Aggregator		 Reviewer Comment (2022-06-03): lender has commented in [redacted] portal to waive exception, with comp factors


Buyer Comment (2022-06-03): [redacted] deems this as immaterial to the loan file as the legal description is correct and is most important to secure our lien.  Guarantors qualifying credit score of [redacted].  Additionally.  Experienced investor with 4 currently held rentals.


Buyer Comment (2022-05-19): reached out.
 06/03/2022 2 B FL Investment Refinance - Cash-out - Other D B C B D A No
220069307-001 25971530 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A GA Investment Purchase D A A A D A No
220065731-001 25971532 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A OK Investment Refinance - Cash-out - Other D A A A D A No
220067600-001 25971533 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-17): CDA's were batch uploaded by deal set up team
 05/17/2022 1 A WI Investment Purchase D A C A D A No
220067600-001 25971534 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided COGS in file is dated [redacted].  Not dated within 30 days of closing as required by guidelines. Reviewer Comment (2022-05-20): Certificate of Good Standing is provided Doc Id : D0224, Hence Exception cleared.


Buyer Comment (2022-05-19): COGS.
 05/20/2022 1 A WI Investment Purchase D A C A D A No
220067196-001 25971537 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-17): CDA's were batch uploaded by deal set up team
 05/17/2022 1 A AR Investment Refinance - Rate/Term D A A A D A No
220065534-001 25971539 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A OH Investment Purchase D B C B D A No
220065534-001 25971540 Credit Asset Asset Documentation Asset Guideline Issue:Insufficient asset documentation. The bank statements in file are not consecutive months [redacted] and [redacted][redacted] statement not in file. The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.

Borrowers made a down payment from their own funds on this purchase transaction of at least 5% and $5,000.00.

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

The representative FICO score exceeds the guideline minimum by at least 40 points.		 lender commented in [redacted] portal to waive guideline exception, with comp factors Owner

Owner

Owner

Owner,Originator		 Reviewer Comment (2022-05-25): lender commented in [redacted] portal to waive guideline exception, with comp factors


Buyer Comment (2022-05-25): [redacted] deems this as immaterial to the loan file.  With this being an IRA account and not a regular depository account there were no significant jumps in balances.   Guarantor credit qualifying score of [redacted]. Borrower contributed more than $[redacted] of their own funds to the purchase of the property.


Reviewer Comment (2022-05-25): This is in reference to the Q[redacted]


Buyer Comment (2022-05-24): Please give additional information...Which account are you missing a december statement?
 05/25/2022 2 B OH Investment Purchase D B C B D A No
220068419-001 25971542 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A CO Investment Refinance - Cash-out - Other D A A A D A No
210060228-001 25971543 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A CA Investment Refinance - Rate/Term D A A A D A No
220065732-001 25971546 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A MA Investment Purchase D A A A D A No
220067523-001 25971547 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A MD Investment Refinance - Cash-out - Other D A A A D A No
220069001-001 25971549 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A MA Investment Purchase D A A A D A No
220065286-001 25971552 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): cda received
 05/19/2022 1 A OH Investment Refinance - Cash-out - Other D A A A D A No
220068231-001 25971554 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A OH Investment Refinance - Cash-out - Other D A A A D A No
220066749-001 25971556 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220065631-001 25971558 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A IL Investment Refinance - Cash-out - Other D B C B D A No
220065631-001 25971559 Credit Credit AUS Discrepancy / Guidelines Discrepancy Credit Guideline Requirement: Minimum Loan Amount discrepancy. Note loan amount of ___ is less than Guideline minimum loan amount of ___. The loan amount is below the guideline minimum and the Underwriter Overview is not provided. The lender exception and compensating factors were not provided. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The Debt Service Coverage Ratio (DSCR) is greater than the guideline requirement by .50.		 lender granted guideline exception with comp factors, D0155 Owner

Owner,Originator		 Reviewer Comment (2022-06-03): lender granted guideline exception with comp factors, D0155


Buyer Comment (2022-06-03): Please see attached U/O with exception commentary.


Buyer Comment (2022-05-19): Reached out
 06/03/2022 2 B IL Investment Refinance - Cash-out - Other D B C B D A No
220067883-001 25971561 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A IN Investment Purchase D A A A D A No
220066975-001 25971563 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A VA Investment Refinance - Rate/Term D A C A D A No
220066975-001 25971564 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided The COGS in file does not have date stamp listed and therefore, unable to determine if pulled within 30 days of closing as required by guidelines. Reviewer Comment (2022-05-17): Certificate of Good Standing of borrowing entity is present in the file with Doc ID D0201, hence cleared the exception


Buyer Comment (2022-05-16): COGS [redacted] uploaded
 05/17/2022 1 A VA Investment Refinance - Rate/Term D A C A D A No
220067454-001 25971566 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A IN Investment Refinance - Cash-out - Other D A C A D A No
220067454-001 25971567 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Certificate of Good Standing not provided Missing the COGS for the state of [redacted] dated within 30 days of closing as required by guidelines. Reviewer Comment (2022-05-17): Certificate of Good Standing of Borrowing Entity is present in the file with Doc ID D0221, Hence Cleared the Exception.


Buyer Comment (2022-05-16): Indiana COGS uploaded
 05/17/2022 1 A IN Investment Refinance - Cash-out - Other D A C A D A No
220066664-001 25971569 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A PA Investment Refinance - Cash-out - Other D A C A D A No
220066664-001 25971570 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided Missing OFAC for 50% owner[redacted]. Reviewer Comment (2022-05-17): OFAC is provided for ( XXX ), Doc ID: D0280, Hence Cleared the Exception.


Buyer Comment (2022-05-16): [redacted] OFAC uploaded
 05/17/2022 1 A PA Investment Refinance - Cash-out - Other D A C A D A No
220069593-001 25971571 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-17): CDA's were batch uploaded by deal set up team
 05/17/2022 1 A NJ Investment Refinance - Cash-out - Other D A A A D A No
220064796-001 25971573 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-19): CDA received
 05/19/2022 1 A RI Investment Purchase D A A A D A No
220067761-001 25971576 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA received
 05/19/2022 1 A IN Investment Purchase D A A A D A No
210062418-001 25971578 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A MO Investment Refinance - Cash-out - Other D A A A D A No
220066358-001 25971580 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-19): cda received
 05/19/2022 1 A GA Investment Purchase D A A A D A No
220068766-001 25971587 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A TX Investment Purchase D A A A D A No
220067473-001 25971581 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A MD Investment Refinance - Cash-out - Other D A A A D A No
220068722-001 25971584 Credit Credit Credit Documentation Credit OFAC was not checked and required per guidelines. - OFAC not in file for Borrower dated within 30 days of closing Reviewer Comment (2022-05-16): OFAC included in fraud report, D0040


Buyer Comment (2022-05-16): OFAC for [redacted] can be seen in the fraud report. D0040 108
 05/16/2022 1 A GA Investment Refinance - Cash-out - Other D A C A D A No
220068722-001 25971585 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A GA Investment Refinance - Cash-out - Other D A C A D A No
220064724-001 25971595 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-17): CDA's were batch uploaded by deal set up team
 05/17/2022 1 A RI Investment Purchase D A C A D A No
220064724-001 25971596 Credit Guideline Guideline Issue Guideline Hazard Insurance Coverage Amount is insufficient per guidelines. Original Loan Amount: ___; Estimated Cost New: ___; Lender Documented Insured Value: ___ The loan file does not document that the homeowners insurance premium was paid. Reviewer Comment (2022-05-23): D0041 shows ins. premium paid in full


Buyer Comment (2022-05-20): Please cancel...Certificate of liability insurance lists PAID IN FULL.
 05/23/2022 1 A RI Investment Purchase D A C A D A No
220068606-001 25971589 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A GA Investment Refinance - Rate/Term D A A A D A No
220067393-001 25971591 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-17): CDA's were batch uploaded by deal set up team
 05/17/2022 1 A PA Investment Refinance - Cash-out - Other D A A A D A No
220064879-001 25971593 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A PA Investment Refinance - Cash-out - Other D A A A D A No
220065933-001 25971599 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A GA Investment Refinance - Rate/Term D A A A D A No
220069848-001 25971601 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A MD Investment Refinance - Rate/Term D A A A D A No
220068642-001 25971604 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A FL Investment Refinance - Rate/Term D A A A D A No
220067345-001 25971606 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-17): CDA's were batch uploaded by deal set up team
 05/17/2022 1 A PA Investment Purchase D A C A D A No
220067345-001 25971607 Credit Credit Credit Documentation Credit Background check is missing. Missing for Business Entity. Reviewer Comment (2022-05-16): business is less than 180 days old and does not require a background report


Buyer Comment (2022-05-13): [redacted] was created [redacted] and does not require a background as a newly created entity.
 05/16/2022 1 A PA Investment Purchase D A C A D A No
220066758-001 25971608 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A HI Investment Purchase D A C A D A No
220066758-001 25971610 Credit Guideline Guideline Issue Guideline Hazard Insurance Coverage Amount is insufficient per guidelines. Original Loan Amount: ___; Estimated Cost New: ___; Lender Documented Insured Value: ___ Email in file from insurance agent states for dwelling coverage that no replacement cost coverage applies it is ACV which per guidelines is not acceptable. In addition, the loan file does not document that the insurance premium has been paid. Reviewer Comment (2022-06-07): receipt showing insurance was paid has been received


Buyer Comment (2022-06-07): Please see attached receipt showing invoice was paid.


Buyer Comment (2022-05-23): reached out.


Reviewer Comment (2022-05-23): coverage is sufficient, please provide evidence that the hazard premium has been paid in full


Buyer Comment (2022-05-20): Dwelling coverage of $[redacted].   Coverage provided exceeds our loan loan amount.
 06/07/2022 1 A HI Investment Purchase D A C A D A No
220067370-001 25971611 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-17): CDA's were batch uploaded by deal set up team
 05/17/2022 1 A PA Investment Refinance - Cash-out - Other D A A A D A No
220066725-001 25971614 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A NJ Investment Refinance - Cash-out - Other D A C A D A No
220066725-001 25971615 Credit Guideline Guideline Issue Guideline Hazard Insurance Coverage Amount is insufficient per guidelines. Original Loan Amount: ___; Estimated Cost New: ___; Lender Documented Insured Value: ___ The loan does not document that the remaining balance of the hazard insurance premium of $[redacted] was paid, as required by the guidelines. Reviewer Comment (2022-05-23): D0060, hazard insurance has been paid in full


Buyer Comment (2022-05-20): Please cancel.  P438 invoice shows statmp of PAID IN FULL.
 05/23/2022 1 A NJ Investment Refinance - Cash-out - Other D A C A D A No
220066381-001 25971617 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A FL Investment Purchase D A C A D A No
220066381-001 25971618 Credit Credit Credit Documentation Guideline Missing Document: Asset not provided Please provide the Operating Agreement for [redacted] .   Proceeds from CD from loan #[redacted] being used for subject transaction.  Borrower on that CD is [redacted] which is different than borrower on subject transaction.  This is required to confirm access to funds. Reviewer Comment (2022-05-17): Operating Agreement is provided for ( [redacted] )Doc ID: 231 Hence exception cleared.


Buyer Comment (2022-05-16): Operating Agreement uploaded
 05/17/2022 1 A FL Investment Purchase D A C A D A No
220068096-001 25971620 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A WA Investment Refinance - Cash-out - Other D A A A D A No
220065978-001 25971622 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-16): CDA's were batch uploaded by deal set up team
 05/16/2022 1 A FL Investment Refinance - Cash-out - Other D A A A D A No
220067104-001 25971624 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220067670-001 25971626 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A IL Investment Refinance - Cash-out - Other D A A A D A No
220067105-001 25971628 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220067668-001 25971630 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A IL Investment Refinance - Cash-out - Other D A A A D A No
220065911-001 25971632 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A LA Investment Refinance - Cash-out - Other D A A A D A No
220067153-001 25971635 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Secondary valuation not provided. Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220067084-001 25971637 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team


Buyer Comment (2022-05-19): appraisal
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220067084-001 25971638 Credit Credit Credit Documentation Credit Background check is missing. Missing for Business Entity. Reviewer Comment (2022-05-20): business entity is less than 180 days old, therefore background check is not required


Buyer Comment (2022-05-19): New entity - background not required
 05/20/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220067096-001 25971640 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220067014-001 25971642 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220067164-001 25971643 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided Reviewer Comment (2022-05-20): OFAC is provided Doc ID: D0182, Hence Cleared the Exception.


Buyer Comment (2022-05-19): OFAC
 05/20/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220067164-001 25971646 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220067149-001 25971648 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220067151-001 25971649 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220067151-001 25971651 Property Appraisal Reconciliation Value Discrepancy Appraisal Reconciliation Loan is to be securitized.  Highest level secondary valuation does not support the value used to qualify.; Sec ID: 7 Note Date:  ___; Lien Position: ___ CDA did not support appraised value within -10%.  Another valuation product must be received that is within 10% of the original appraised value. Reviewer Comment (2022-06-03): BPO with value -2.63% of the appraised value received, supporting the appraised value


Buyer Comment (2022-06-03): Please see attached Eval.
 06/03/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220069958-001 25971652 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A OH Investment Refinance - Cash-out - Other D A A A D A No
220067455-001 25971654 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A NM Investment Refinance - Cash-out - Other D A C A D A No
220067455-001 25971656 Credit Credit Miscellaneous Guideline Credit Exception: The title commitment in file does not reflect current Borrower(s) as currently owning property. Deed and purchase contract in file reflect property transfer but need updated title supplement reflecting current owners (refinance). Reviewer Comment (2022-05-25): Exception Cleared : In title Commitment page 6 Chain of title reflects Borrower is current Owner of Subject property. (Doc ID : D0198 & D0152)


Buyer Comment (2022-05-24): Please see 24 mo. chain of title on page 5.


Reviewer Comment (2022-05-20): will review once updated documents or comments are received


Buyer Comment (2022-05-19): SEnt  request
 05/25/2022 1 A NM Investment Refinance - Cash-out - Other D A C A D A No
220067163-001 25971657 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220066947-001 25971660 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A IL Investment Refinance - Cash-out - Other D A A A D A No
220067712-001 25971663 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A PA Investment Refinance - Cash-out - Other D A A A D A No
220070072-001 25971664 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided [redacted], a [redacted] limited liability company is the sole 100% member of borrowing entity.  Please provide Articles of formation, EIN, Operating Agreement , COGS and OFAC for this 100% member. Reviewer Comment (2022-05-23): [redacted] docs received, D0309 - 0314


Buyer Comment (2022-05-20): [redacted] documents


Reviewer Comment (2022-05-20): Articles of formation, EIN, Operating Agreement , COGS and OFAC for [redacted], a [redacted] limited liability company is not provided, Hence Exception Remains.


Buyer Comment (2022-05-19): Entity docs
 05/23/2022 1 A FL Investment Purchase D A D A D A No
220070072-001 25971666 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A FL Investment Purchase D A D A D A No
220070072-001 25971667 Credit Credit Miscellaneous Guideline Credit Exception: Please provide documentation that states the percentage of ownership the two (2) Guarantors, [redacted] and  [redacted] have of [redacted], which is the 100% sole member of borrowing entity. Reviewer Comment (2022-05-23): D0316 shows each guarantor owns 50% of [redacted]


Buyer Comment (2022-05-20): Operating agreement for [redacted] is pages 15-28 of the uploaded pdf.


Reviewer Comment (2022-05-20): Operating Agreement for [redacted] is not provided, Hence Exception Remains.


Buyer Comment (2022-05-19): Officers


Buyer Comment (2022-05-19): Formation


Buyer Comment (2022-05-19): Operating agreement
 05/23/2022 1 A FL Investment Purchase D A D A D A No
220067165-001 25971669 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220069238-001 25971671 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A NC Investment Purchase D A A A D A No
220065196-001 25971673 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A WA Investment Refinance - Cash-out - Other D A A A D A No
220067011-001 25971674 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Reviewer Comment (2022-05-18): tax info came from title commitment, which is allowed


Buyer Comment (2022-05-17): [redacted] used the taxes located on Schedule B-II of the Title Commitment, see pg 313 in the loan file at the bottom of the page. [redacted] taxes total $[redacted] for county and city.
 05/18/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220067011-001 25971676 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220066254-001 25971678 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A PA Investment Purchase D A A A D A No
220069826-001 25971680 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A NJ Investment Refinance - Cash-out - Other D A A A D A No
220069216-001 25971682 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A FL Investment Purchase D A D A D A No
220069216-001 25971683 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Other not provided [redacted] is 100% member of borrowing entity.  Please provide the Articles of formation, Operating Agreement and the certificate of good standing for this entity. Reviewer Comment (2022-05-20): The Articles of formation, Operating Agreement and the certificate of good standing for [redacted] is present in the file, hence cleared the exception.


Buyer Comment (2022-05-19): [redacted] legal documents.
 05/20/2022 1 A FL Investment Purchase D A D A D A No
220065901-001 25971691 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A LA Investment Refinance - Rate/Term D A C A D A No
220065901-001 25971692 Credit Insurance Insurance Documentation Insurance Rent loss insurance is required on all properties and there is no evidence of this insurance in the file. Reviewer Comment (2022-05-18): sufficient rent loss coverage is in file


Buyer Comment (2022-05-17): Rent loss coverage is [redacted]% of the dwelling amount, see pg 376 in the loan file
 05/18/2022 1 A LA Investment Refinance - Rate/Term D A C A D A No
220065901-001 25971695 Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower. Approval indicated cash out refinance from other properties would be utilized for cash to close and reserves for this loan.  No evidence of those cash out refinances in file Reviewer Comment (2022-05-18): Closing Statements are provided for loan # ( [redacted] ) Doc ID: D0177, D0179, Hence Cleared the Exception.


Buyer Comment (2022-05-17): Closing statements from other loans have now been uploaded.
 05/18/2022 1 A LA Investment Refinance - Rate/Term D A C A D A No
220065901-001 25971696 Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. Approval indicated cash out refinance from other properties would be utilized for cash to close and reserves for this loan.  No evidence of those cash out refinances in file Reviewer Comment (2022-05-18): Closing Statements are provided for loan # ( 2[redacted] ) Doc ID: D0177, D0179, Hence Cleared the Exception.


Buyer Comment (2022-05-17): Closing statements from other loans have been uploaded, please clear
 05/18/2022 1 A LA Investment Refinance - Rate/Term D A C A D A No
220070013-001 25971699 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A CO Investment Refinance - Cash-out - Other D A A A D A No
220064716-001 25971685 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-27): CDA's were batch uploaded by deal setup team
 05/27/2022 1 A FL Investment Refinance - Rate/Term D A C A D A No
220064716-001 25971686 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. Due to missing appraisal Reviewer Comment (2022-05-20): Documentation provided. Exception cleared


Buyer Comment (2022-05-20): Please cancel.  We have an appraisal in the file dated after [redacted].  Please clear as this is not a valid exception.


Reviewer Comment (2022-05-18): Unable to clear exception.  Still missing appraisal.  Only 442 completion report was uploaded.


Buyer Comment (2022-05-17): Missing appraisal uploaded
 05/20/2022 1 A FL Investment Refinance - Rate/Term D A C A D A No
220064716-001 25971687 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Appraisal is missing.; Sec ID: 1 Reviewer Comment (2022-05-20): Documentation provided. Exception cleared
 05/20/2022 1 A FL Investment Refinance - Rate/Term D A C A D A No
220064716-001 25971689 Credit Property - Appraisal Appraisal Documentation Property - Appraisal Missing Document: Appraisal not provided Reviewer Comment (2022-05-20): Documentation provided. Exception cleared


Buyer Comment (2022-05-20): Duplicate please cancel.


Buyer Comment (2022-05-20): See attached
 05/20/2022 1 A FL Investment Refinance - Rate/Term D A C A D A No
220067125-001 25971698 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220067099-001 25971702 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220066052-001 25971704 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A FL Investment Refinance - Cash-out - Other D A A A D A No
220067145-001 25971706 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 The file is missing a copy of the secondary valuation required for securitization purposes. Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220067076-001 25971707 Credit Loan Package Documentation Application / Processing Missing Document  Missing Document: Tax Certificate not provided Reviewer Comment (2022-05-31): lender used title commitment, which is allowed


Buyer Comment (2022-05-31): Property taxes were taken from title commitment.  Please cancel.
 05/31/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220067076-001 25971709 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220067138-001 25971711 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220069396-001 25971712 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A FL Investment Refinance - Cash-out - Other D A A A D A No
220067679-001 25971714 Credit Borrower and Mortgage Eligibility Mortgage / Program Eligibility Borrower and Mortgage Eligibility Guideline Requirement: Loan to value discrepancy. Calculated loan to value percentage of ___ exceeds Guideline loan to value percentage of ___. Max LTV per guidelines for a property value <[redacted]is [redacted]%. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 lender commented in [redacted] portal to waive guideline with comp factors Owner

Owner,Originator		 Reviewer Comment (2022-06-07): lender commented in [redacted] portal to waive guideline with comp factors


Buyer Comment (2022-06-07): [redacted] deems this as immaterial to the loan file.  Guarantor's qualifying credit score of [redacted].  Post closing liquidity of $[redacted] when the required reserves are $[redacted].  DSCR if [redacted]x exceeding the minimum required of [redacted]x.


Buyer Comment (2022-05-19): Reaching out.
 06/07/2022 2 B AL Investment Purchase D B C B D A No
220067679-001 25971715 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-19): CDA's were batch uploaded by deal set up team
 05/19/2022 1 A AL Investment Purchase D B C B D A No
220067679-001 25971717 Credit Credit Miscellaneous Guideline Credit Exception: Guarantor XXX last name is misspelled on the signature lines of the  Note and Security instrument in file.  The correct spelling is listed on the guarantor's drivers license. Reviewer Comment (2022-05-24): lender legal department has deemed the doc set "acceptable as-is". per D0253


Buyer Comment (2022-05-23): Please see attached response from our legal counsel and clear.


Buyer Comment (2022-05-19): Reviewing internally.
 05/24/2022 1 A AL Investment Purchase D B C B D A No
220064705-001 25971719 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A FL Investment Refinance - Rate/Term D A A A D A No
220065966-001 25971721 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A AR Investment Refinance - Cash-out - Other D A A A D A No
220067759-001 25971725 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A MO Investment Purchase D B B B D A No
220067759-001 25971726 Credit Credit Miscellaneous Guideline Credit Exception: Lender exception granted with comp factor to treat this 4 unit property as fully occupied.  This is a 4 unit property, 1 unit is vacant and guidelines require this be treated as a vacant property. FICO [redacted], paid as agreed mtg since 2009. Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months.

The representative FICO score exceeds the guideline minimum by at least 40 points.		 Lender exception granted with comp factor to treat this 4 unit property as fully occupied.  This is a 4 unit property, 1 unit is vacant and guidelines require this be treated as a vacant property. FICO [redacted], paid as agreed mtg since [redacted]. Owner

Owner,Aggregator		 Reviewer Comment (2022-05-09): lender granted guideline exception with comp factors
 05/09/2022 2 B MO Investment Purchase D B B B D A No
220064000-001 25971723 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-26): CDA's were batch uploaded by deal set up team
 05/26/2022 1 A FL Investment Refinance - Cash-out - Other D A A A D A No
220067031-001 25971728 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220065907-001 25971730 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A LA Investment Refinance - Cash-out - Other D A A A D A No
220068397-001 25971732 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A OR Investment Refinance - Cash-out - Other D A A A D A No
220068397-001 25971733 Property Appraisal Reconciliation Value Discrepancy Appraisal Reconciliation Loan is to be securitized.  Highest level secondary valuation does not support the value used to qualify.; Sec ID: 7 Note Date:  ___; Lien Position: ___ [redacted] CDA did not support the original appraised value.  An additional valuation product is required, that is within -10% of the original appraised value. Reviewer Comment (2022-06-03): Eval.com report received, supporting the original appraised value


Buyer Comment (2022-06-03): Please see attached Eval
 06/03/2022 1 A OR Investment Refinance - Cash-out - Other D A A A D A No
220066828-001 25971735 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A IN Investment Refinance - Cash-out - Other D A A A D A No
220069285-001 25971743 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A MD Investment Refinance - Rate/Term D A A A D A No
220066094-001 25971736 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-26): CDA's were batch uploaded by deal set up team
 05/26/2022 1 A AZ Investment Purchase D A A A D A No
220069461-001 25971739 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A PA Investment Purchase D A A A D A No
220064111-001 25971741 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-27): cda received
 05/27/2022 1 A NJ Investment Refinance - Cash-out - Other D A A A D A No
220067790-001 25971746 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A OH Investment Purchase D A A A D A No
220063381-001 25971750 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A CT Investment Refinance - Cash-out - Other D A A A D A No
220067159-001 25971748 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220070360-001 25971752 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A CA Investment Refinance - Cash-out - Other D A A A D A No
220068836-001 25971754 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220069536-001 25971756 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A TX Investment Refinance - Cash-out - Other D A A A D A No
220066240-001 25971758 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A NJ Investment Refinance - Cash-out - Other D A A A D A No
220070096-001 25971760 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A CA Investment Refinance - Cash-out - Other D A A A D A No
220067172-001 25971762 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220067172-001 25971763 Credit Credit Miscellaneous Guideline Credit Exception: Certificate of Good standing is dated [redacted], which is not dated within 30 days of closing. Reviewer Comment (2022-05-25): Certificate of Good Standing is Provided Doc ID: D0204, Hence Cleared the Exception.


Buyer Comment (2022-05-24): Dated [redacted]
 05/25/2022 1 A TN Investment Refinance - Cash-out - Other D A C A D A No
220067597-001 25971765 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220070300-001 25971767 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A NC Investment Refinance - Cash-out - Other D A A A D A No
220070300-001 25971768 Property Appraisal Reconciliation Value Discrepancy Appraisal Reconciliation Loan is to be securitized.  Highest level secondary valuation does not support the value used to qualify.; Sec ID: 7 Note Date:  ___; Lien Position: ___ [redacted] CDA did not support the original appraised value.  An additional valuation product is required, that is within -10% of the original appraised value. Reviewer Comment (2022-06-03): Eval.com report, with value at -3% of appraised value received, D0320


Buyer Comment (2022-06-03): Please see attached Eval
 06/03/2022 1 A NC Investment Refinance - Cash-out - Other D A A A D A No
220067890-001 25971771 Credit Loan Package Documentation Application / Processing Loan Package Documentation Missing Document: Operating Agreement not provided Reviewer Comment (2022-05-25): Bylaws is provided Doc ID: D0219, Hence Cleared the Exception.


Buyer Comment (2022-05-24): Operation agreement/ Bylaws
 05/25/2022 1 A FL Investment Refinance - Cash-out - Other D A C A D A No
220067890-001 25971773 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A FL Investment Refinance - Cash-out - Other D A C A D A No
220066694-001 25971770 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A NJ Investment Purchase D A A A D A No
220067658-001 25971775 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-26): CDA's were batch uploaded by deal set up team
 05/26/2022 1 A MD Investment Refinance - Cash-out - Other D A A A D A No
220064258-001 25971777 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A WA Investment Refinance - Cash-out - Other D A A A D A No
220068299-001 25971781 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-26): CDA's were batch uploaded by deal set up team
 05/26/2022 1 A PA Investment Refinance - Cash-out - Other D A A A D A No
220068842-001 25971779 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A TN Investment Refinance - Cash-out - Other D A A A D A No
220066692-001 25971783 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A NJ Investment Purchase D A A A D A No
220066679-001 25971786 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A NJ Investment Purchase D A C A D A No
220066679-001 25971787 Credit Credit Miscellaneous Guideline Credit Exception: OFAC in file is dated [redacted], which is not dated within 30 days of closing  as required by guidelines.  Closing date wa s[redacted]. Reviewer Comment (2022-05-26): Documentation provided. Exception cleared


Buyer Comment (2022-05-26): ofac
 05/26/2022 1 A NJ Investment Purchase D A C A D A No
220066679-001 25971788 Property Appraisal Reconciliation Value Discrepancy Appraisal Reconciliation Loan is to be securitized.  Highest level secondary valuation does not support the value used to qualify.; Sec ID: 7 Note Date:  ___; Lien Position: ___ [redacted] CDA did not support the original appraised value.  An additional valuation product is required, that is within -10% of the original appraised value. Reviewer Comment (2022-06-03): Eval.com report received, supporting the original appraised value


Buyer Comment (2022-06-03): Please see attached Eval
 06/03/2022 1 A NJ Investment Purchase D A C A D A No
220069178-001 25971791 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A NC Investment Purchase D A A A D A No
220070815-001 25971798 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A IN Investment Refinance - Rate/Term D A A A D A No
220070814-001 25971793 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A CO Investment Purchase D A A A D A No
220065636-001 25971796 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A FL Investment Refinance - Cash-out - Other D A A A D A No
220064858-001 25971799 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-26): CDA's were batch uploaded by deal set up team
 05/26/2022 1 A TX Investment Purchase D A A A D A No
220065761-001 25971802 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Loan is to be securitized. Secondary valuation is missing; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A NY Investment Refinance - Cash-out - Other D A A A D A No
220069495-001 25971804 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A TX Investment Purchase D A A A D A No
220069627-001 25971806 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A NC Investment Refinance - Rate/Term D A C A D A No
220069627-001 25971807 Credit Credit Credit Documentation Credit Missing Document: OFAC not provided Not dated within 30 days. Reviewer Comment (2022-05-24): OFAC is provided within 30 days of Closing Doc ID: D0205, Hence Cleared the Exception.


Buyer Comment (2022-05-23): uploaded
 05/24/2022 1 A NC Investment Refinance - Rate/Term D A C A D A No
220069567-001 25971809 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A TX Investment Refinance - Cash-out - Other D A A A D A No
210062964-001 25971812 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-24): CDA's were batch uploaded by deal setup team
 05/24/2022 1 A NY Investment Refinance - Cash-out - Other D A A A D A No
220069904-001 25971815 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A GA Investment Purchase D A C A D A No
220069904-001 25971816 Credit Asset Asset Calculation / Analysis Asset Available for Closing is insufficient to cover Cash From Borrower. Reviewer Comment (2022-05-24): sufficinet assets now in file


Buyer Comment (2022-05-24): Please look at bank statements for [redacted] again as they show two accounts, a savings and a money market. The savings has a balance of $[redacted] and the money market $[redacted]. [redacted] used the [redacted] statements for a more conservative approach.


Reviewer Comment (2022-05-24): Bank statements which were uploaded are not sufficient to cover cash from borrower amount ($[redacted]). As per bank statements balance is ($[redacted]). Liquidity required as per approval is $[redacted]. Hence exception remains.


Buyer Comment (2022-05-23): Evidence of liquidity that was missing from the loan file has been uploaded
 05/24/2022 1 A GA Investment Purchase D A C A D A No
220069904-001 25971817 Credit Credit AUS Discrepancy / Guidelines Discrepancy Guideline Guideline Requirement: PITIA reserves months discrepancy. No asset documentation in file. Reviewer Comment (2022-05-24): sufficient assets now in file


Buyer Comment (2022-05-24): Please clear based on the bank statements provided
 05/24/2022 1 A GA Investment Purchase D A C A D A No
220068105-001 25971819 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-23): CDA's were batch uploaded by deal set up team
 05/23/2022 1 A TX Investment Refinance - Cash-out - Other D A A A D A No
220068828-001 25971821 Property Property - Appraisal Appraisal Documentation Property - Appraisal Loan is to be securitized.  Secondary  valuation is missing.; Sec ID: 2 Reviewer Comment (2022-05-27): CDA's were batch uploaded by deal setup team
 05/27/2022 1 A PA Investment Refinance - Cash-out - Other D A A A D A No