EX-99.52 53 ex99-52.htm OPUS EXCEPTION REPORT

 

CSMC 2022-NQM3 Trust ABS-15G

 

Exhibit 99.52

 

Seller Loan ID Customer Loan ID Loan Exception ID Exception ID Exception Category Exception Sub Category Exception Description Exception Comments Seller Response Reviewer Response Compensating Factors Exception Status Initial Exception Grade Final Exception Grade Initial DBRS Exception Grade Final DBRS Exception Grade Initial Moodys Exception Grade Final Moodys Exception Grade Initial Fitch Exception Grade Final Fitch Exception Grade Initial Kroll Exception Grade Final Kroll Exception Grade Initial S&P Exception Grade Final S&P Exception Grade Subject to Predatory Lending HUD Category
119070122 119070122 101_303_11992 11992 Credit   Asset Verification is dated greater than 45 days from Note Date Summary: A personal account statement from XXX XXXXX XXXX in the name the Guarantor, dated XX/XX/XXXX, with an ending balance of $XX,XXX.XX; however, the account statement is stale dated over 45 days from the loan origination date of XX/XX/XXXX. Please provide updated account statement dated within 45 days of the loan origination date of XX/XX/XXXX.
  The exception 'Asset Verification is dated greater than 45 days from Note Date' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 661 FICO. Guidelines require 4 months reserves and the borrower has 22.27 months reserves. Cleared 3 1 C A C A C A C A C A No  
119070122 119070122 101_303_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XX XXXXXXX XXXXXX XXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 661 FICO. Guidelines require 4 months reserves and the borrower has 22.27 months reserves. Cleared 3 1 C A C A C A C A C A No  
119070122 119070122 101_303_13303 13303 Credit   Pending Valuation Review - Missing Desk Review - Property 2 Summary: Missing Desk Review for property address XX XX XXXXXX XX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 661 FICO. Guidelines require 4 months reserves and the borrower has 22.27 months reserves. Cleared 3 1 C A C A C A C A C A No  
119070133 119070133 101_154_15086 15086 Property   Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1 Property 1 is in a recent disaster area and there is no post incident inspection.   The exception 'Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 691 FICO. Guidelines require 4 months reserves and the borrower has 119.2 months reserves. Cleared 3 1 C A C A C A C A C A No  
119070133 119070133 101_154_15074 15074 Credit   FEMA: Property is in recent hazard area - Property 1 Summary: The following disasters were found:
-XXXXXXXXX XXXXXX from XX/XX/XXXX 8:00:00 AM to XX/XX/XXXX 12:00:00 AM eception is currently marked as Material.
The exeception status is currently Active.
Client Response: XXX Review - FEMA declared disaster area from XX/XX/XXXX to XX/XX/XXXX. Loan closed XX/XX/XXXX prior to incident.  Opus Response:  Client agrees; Finding remains.
06.25.2020: Client Response: Post Disaster Inspection Uploaded.  Opus Response: Documentation not uploaded. Finding remains
  The exception 'FEMA: Property is in recent hazard area - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 691 FICO. Guidelines require 4 months reserves and the borrower has 119.2 months reserves. Cleared 3 1 C A C A C A C A C A No  
119070251 119070251 101_150_15086 15086 Property   Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1 Property 1 is in a recent disaster area and there is no post incident inspection.   The exception 'Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 700 FICO. Guidelines require 4 months reserves and the borrower has 268.85 months reserves. Cleared 3 1 C A C A C A C A C A No  
119070251 119070251 101_150_15074 15074 Credit   FEMA: Property is in recent hazard area - Property 1 The following disasters were found:
-XXXXXXXXX XXXXX from XX/XX/XXXX 1:46:00 AM to XX/XX/XXXX 3:59:00 AM-XXXXXXXXX XXXXXX from XX/XX/XXXX 12:00:00 PM to XX/XX/XXXX 4:00:00 AM
  No disasters found in this area within the time frame. Guidelines require a minimum FICO of 600 and the borrower has a 700 FICO. Guidelines require 4 months reserves and the borrower has 268.85 months reserves. Cleared 3 1 C A C A C A C A C A No  
119070251 119070251 101_150_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXX XXX XXXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 700 FICO. Guidelines require 4 months reserves and the borrower has 268.85 months reserves. Cleared 3 1 C A C A C A C A C A No  
119079972 119079972 101_146_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Missing Desk Review for property address XXXX XXXXXX XXXXX.   Summary: Missing Desk Review for property address XXXX XXXXXX XXXXX.
Guidelines require a minimum FICO of 600 and the borrower has a 650 FICO. Guidelines require 4 months reserves and the borrower has 30.28 months reserves. Cleared 3 1 C A C A C A C A C A No  
119080418 119080418 101_164_12674 12674 Credit   Missing two months of rent checks for month to month lease - Property 1 Missing two months of rent checks for month to month lease for property address XXX X XXXX XX.   The exception 'Missing two months of rent checks for month to month lease - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 646 FICO. Guidelines require 4 months reserves and the borrower has 10.65 months reserves. Cleared 3 1 D A D A D A D A D A No  
119080418 119080418 101_164_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXX X XXXX XX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 646 FICO. Guidelines require 4 months reserves and the borrower has 10.65 months reserves. Cleared 3 1 C A C A C A C A C A No  
119080692 119080692 101_222_12009 12009 Credit   Borrower credit report dated greater than 90 days from Note Date Summary: Lender Guidelines require for (i) each borrower (if natural person), (ii) each guarantor and managing member, and (iii) owners of the borrower with an interest of 51% or greater, the originator must obtain a credit history from at least two bureaus within 90 days of loan origination.  The credit report for guarantor XXXXX XXXXXXX XXXXX  is dated XX/XX/XXXX, which is greater than 90 days prior to the loan origination date of XX/XX/XXXX.
  Change status of 'Borrower credit report dated greater than 90 days from Note Date' from Rescind to Cleared.
Opus response: Finding cleared. Desk review received.
Guidelines require a minimum FICO of 600 and the borrower has a 674 FICO. Guidelines require 4 months reserves and the borrower has 13.33 months reserves. Rescind 3 1 C A C A C A C A C A No  
119080956 119080956 101_200_15086 15086 Property   Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1 Property 1 is in a recent disaster area and there is no post incident inspection.   The exception 'Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 650 FICO. Guidelines require 4 months reserves and the borrower has 7.4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119080956 119080956 101_200_15074 15074 Credit   FEMA: Property is in recent hazard area - Property 1 The following disasters were found:
-XXXXXXXXX XXXXXX from XX/XX/XXXX 8:00:00 AM to XX/XX/XXXX 12:00:00 AM
  The exception 'FEMA: Property is in recent hazard area - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 650 FICO. Guidelines require 4 months reserves and the borrower has 7.4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119080956 119080956 101_200_12866 12866 Credit   Missing Closing Instructions Summary: Missing Closing Instructions
  The exception 'Missing Closing Instructions' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 650 FICO. Guidelines require 4 months reserves and the borrower has 7.4 months reserves. Rescind 3 1 D A D A D A D A D A No  
119080956 119080956 101_200_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Missing Desk Review for property address XXXX XXXXXXXXX XXXXXX.   The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 650 FICO. Guidelines require 4 months reserves and the borrower has 7.4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119080956 119080956 101_200_11771 11771 Credit   Reserves Insufficient Verified assets of $XX,XXX.XX minus the cash to close of $7341.50, unverified earnest money deposit of $0.00, total judgments over $15K of $0.00, and unfinanced budget of $0.00 equates to 3.12 months of reserves totaling $4527.36 which is less than the required 4.00 months reserves, totaling $5807.69.   The exception 'Reserves Insufficient' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 650 FICO. Guidelines require 4 months reserves and the borrower has 7.4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091221 119091221 101_270_10182 10182 Credit   Failure to Investigate Background History - Borrower 1 Summary: The fraud report in file shows the Guarantor was convicted of criminal offense(s); however, no additional details of the criminal record were provided to confirm the Guarantor was eligible. Please provide evidence of dismissal of the criminal offense. Additional findings may apply.
Borrower Name: XXXX XXXXXXX
Fraud Report: Lexis Nexis
State: TN
Offense: Disorderly Conduct - Case XXXXXXX
Criminal Record Date: XX/XX/XXXX
  The exception 'Failure to Investigate Background History - Borrower 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 666 FICO. Guidelines require 4 months reserves and the borrower has 14.36 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091221 119091221 101_270_10217 10217 Credit   Missing Borrowing Entity of Evidence of Good Standing Missing Evidence of Good Standing for XXXXXXX XXXXXX, XXX.
  The exception 'Missing Borrowing Entity of Evidence of Good Standing' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 666 FICO. Guidelines require 4 months reserves and the borrower has 14.36 months reserves. Cleared 3 1 D A D A D A D A D A No  
119091221 119091221 101_270_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXX XXXXXX XXXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 666 FICO. Guidelines require 4 months reserves and the borrower has 14.36 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091221 119091221 101_270_13303 13303 Credit   Pending Valuation Review - Missing Desk Review - Property 2 Summary: Missing Desk Review for property address XXX XXXXXX XXXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 666 FICO. Guidelines require 4 months reserves and the borrower has 14.36 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091439 119091439 101_134_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Missing Desk Review for property address XXXX XXXX XXXXXX XXXXX.   The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 693 FICO. Guidelines require 4 months reserves and the borrower has 101.84 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091566 119091566 101_53_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Missing Desk Review for property address XXXX XXXXXX XX XX.   The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 688 FICO. Guidelines require 4 months reserves and the borrower has 61.4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091566 119091566 101_53_13291 13291 Credit   Prepayment penalty does not conform to lender guidelines Summary: Prepayment penalty does not conform to lender guidelines.  Prepayment penalty is 1% 2% 3%. Guidelines require a declining prepayment penalty.
  The exception 'Prepayment penalty does not conform to lender guidelines' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 688 FICO. Guidelines require 4 months reserves and the borrower has 61.4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091663 119091663 101_274_12880 12880 Credit   Appraisal in file is not signed - Property 3 Summary: Appraisal in file is not signed for property address XXX XXXX XXXX XXXXX.
  The exception 'Appraisal in file is not signed - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 115.52 months reserves. Cleared 3 1 D A D A D A D A D A No  
119091663 119091663 101_274_10344 10344 Credit   Appraisal not obtained from an approved vendor - Property 1 Summary: Appraisal for property address ___ was not obtained from an approved vendor. Safe Haven Appraisals is not listed on Appendix B: Approved Valuation Vendors as per Lender guidelines.
  The exception 'Appraisal not obtained from an approved vendor - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 115.52 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091663 119091663 101_274_10584 10584 Credit   Appraisal not obtained from an approved vendor - Property 2
Summary: Appraisal for property address XXXX X XXXXXXX XXXXXX XXXX XXX was not obtained from an approved vendor. Citywide Appraisal Services is not listed on Appendix B: Approved Valuation Vendors as per Lender guidelines.

  The exception 'Appraisal not obtained from an approved vendor - Property 2
' is cleared.
Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 115.52 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091663 119091663 101_274_10585 10585 Credit   Appraisal not obtained from an approved vendor - Property 3
Summary: Appraisal for property address XXX XXXX XXXX XXXXX was not obtained from an approved vendor.  Brennan and Assoc. Appraisal Services is not listed on Appendix B: Approved Valuation Vendors as per Lender guidelines.
  The exception 'Appraisal not obtained from an approved vendor - Property 3
' is cleared.
Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 115.52 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091663 119091663 101_274_10215 10215 Credit   Missing Evidence of Entity Percentage Ownership Missing Evidence of Entity Percentage Ownership for each guarantor.
  The exception 'Missing Evidence of Entity Percentage Ownership' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 115.52 months reserves. Cleared 3 1 D A D A D A D A D A No  
119091663 119091663 101_274_12206 12206 Credit   Missing Rent Comparable Schedule - Property 1 Summary: Missing rent comparable schedule for property address ___.
  The exception 'Missing Rent Comparable Schedule - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 115.52 months reserves. Cleared 3 1 D A D A D A D A D A No  
119091663 119091663 101_274_12207 12207 Credit   Missing Rent Comparable Schedule - Property 2 Summary: Missing rent comparable schedule for property address XXXX X XXXXXXX XXXXXX XXXX XXX.
  The exception 'Missing Rent Comparable Schedule - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 115.52 months reserves. Cleared 3 1 D A D A D A D A D A No  
119091663 119091663 101_274_12209 12209 Credit   Missing Rent Comparable Schedule - Property 3 Summary: Missing rent comparable schedule for property address XXX XXXX XXXX XXXXX.
  The exception 'Missing Rent Comparable Schedule - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 115.52 months reserves. Cleared 3 1 D A D A D A D A D A No  
119091663 119091663 101_274_12859 12859 Credit   Property does not have adequate rights of access to public utilities/right of way Property does not have adequate rights of access to public utilities/right of way.   The exception 'Property does not have adequate rights of access to public utilities/right of way' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 115.52 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091663 119091663 101_274_10246 10246 Credit   Subject Property in Declining Market - Property 3 Summary: Subject property at property address XXX XXXX XXXX XXXXX is in a declining market and therefore, ineligible for financing.

  The exception 'Subject Property in Declining Market - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 115.52 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091663 119091663 101_274_12007 12007 Credit   Missing signed settlement statement Summary: Settlement Statement is Not Executed by Borrower or certified by title company.
  Change status of 'Missing signed settlement statement' from Cleared to Rescind.
Opus Response:  Settlement statement in file stamped by title company.  Finding Rescinded.  
Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 115.52 months reserves. Rescind 3 1 D A D A D A D A D A No  
119091691 119091691 101_309_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXXXX XXX XX. Client exception not found in file.   The exception 'Appraisal is missing interior Inspection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119091691 119091691 101_309_10572 10572 Credit   Loan-to-Value exceeds guidelines Lender guidelines requires a maximum LTV of 90.00 % however the current LTV of the subject is 94.88% .   The exception 'Loan-to-Value exceeds guidelines' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091691 119091691 101_309_12164 12164 Credit   Missing Lease Agreement - Property 4 Summary: Missing Lease Agreement for property address XXXX XXXX XXXXXX XX.

The exeception status is currently Active.
Client response: XXXX review - Provide lease agreement for XXXX XXXX XXXXXX XX
Opus response - Finding remains.
06/25/2020 - XXXX Review - Lease agreements for XXXX XXXX XXXXXX XX not required as property was vacant at time of loan origination.  Market rents used to qualify per UW guidelines
06/25/2020 - Opus Review - Per the appraiser's comments, "All units are currently leased...Leases appear typical.", the lease agreements are required. Exception remains.
  Change status of 'Missing Lease Agreement - Property 4' from Open Rebuttal to Acknowledged by Client.
Leases provided are dated after closing. 
Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119091691 119091691 101_309_12711 12711 Credit   Missing one month of evidence of rent collection - Property 2 Summary: Missing one month of evidence of rent collection for month to month lease for property address XXXX XXXXXXX XXX XX.
  The exception 'Missing one month of evidence of rent collection - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Rescind 3 1 D A D A D A D A D A No  
119091691 119091691 101_309_12712 12712 Credit   Missing one month of evidence of rent collection - Property 3 Missing one month of evidence of rent collection for month to month lease for property address XXXX XXXXXXX XXX XX.   The exception 'Missing one month of evidence of rent collection - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Cleared 3 1 D A D A D A D A D A No  
119091691 119091691 101_309_12211 12211 Credit   Missing Property Management Questionnaire Missing Property Management Questionnaire.   The exception 'Missing Property Management Questionnaire' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Cleared 3 1 D A D A D A D A D A No  
119091691 119091691 101_309_12675 12675 Credit   Missing two months of rent checks for month to month lease - Property 2 Summary: Missing two months of rent checks for month to month lease for property address XXXX XXXXXXX XXX XX.
  The exception 'Missing two months of rent checks for month to month lease - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Rescind 3 1 D A D A D A D A D A No  
119091691 119091691 101_309_12676 12676 Credit   Missing two months of rent checks for month to month lease - Property 3 Missing two months of rent check for month to month lease for property address XXXX XXXXXXX XXX XX.   The exception 'Missing two months of rent checks for month to month lease - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Cleared 3 1 D A D A D A D A D A No  
119091691 119091691 101_309_10295 10295 Credit   Non-Subject Mortgage lates not within guidelines Summary:  Non-Subject Property Mortgage Lates not within guidelines. Guidelines state no non-subject mortgage lates allowed. Credit Report reflects late payments.

  Change status of 'Non-Subject Mortgage lates not within guidelines' from Open Rebuttal to Acknowledged by Client.
Finding waived by client. Credit Lates Exception is approved for downgrade to B – Seller provided a LOE (link below) for the derogatory credit and further explains:  Per UW guidelines (pg 9-10 / Credit Profile) the representative score for the mortgage loan is determined based on the credit scores of each Investor/Sponsor and is used to determine loan eligibility and for pricing purposes.  If there are multiple Investors/Sponsors, the highest applicable score from the group will be used as the representative credit score.  UW relies heavily on the credit worthiness of the borrower in which the representative score is used to determine ability and intent to repay XXXX (685 FICO / 22 Years Active Credit / 3 minor consumer derogs in 2013/ $137,952 – Secured Debt / $123,520 – Unsecured Debt).  Derogatory credit for the borrower with the 498 FICO was addressed in an LOE (see attached).  Derogs appears to be all related to one incident that was identified by the borrower and has a plan of action to correct and prevent from happening again in the future.  Net tangible benefit to borrowers:  Rate Reduction.  
Comp Factors include: Borrower REO Experience, current cash flowing rental properties; Interest Holdback – 3 Months (to mitigate risk associated with 498 FICO borrower); Collateral Location;  Co-Borrower owns primary residence.
Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Acknowledged 3 2 C B C B C B C B C B No  
119091691 119091691 101_309_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXXXX XXX XX.   The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091691 119091691 101_309_13303 13303 Credit   Pending Valuation Review - Missing Desk Review - Property 2 Summary: Missing Desk Review for property address XXXX XXXXXXX XXX XX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091691 119091691 101_309_13306 13306 Credit   Pending Valuation Review - Missing Desk Review - Property 3 Summary: Missing Desk Review for property address XXXX XXXXXXX XXX XX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091691 119091691 101_309_13307 13307 Credit   Pending Valuation Review - Missing Desk Review - Property 4 Summary: Missing Desk Review for property address XXXX XXXX XXXXXX XX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 4' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091691 119091691 101_309_11771 11771 Credit   Reserves Insufficient Verified assets of $XX,XXX.XX minus the cash to close of $0.00, unverified earnest money deposit of $0.00, total judgments over $15K of $0.00, and unfinanced budget of $0.00 equates to 3.99 months of reserves totaling $18700.61 which is less than the required 3.98 months reserves, totaling $18674.86.   The exception 'Reserves Insufficient' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 685 FICO. Guidelines require 4 months reserves and the borrower has 4 months reserves. Cleared 3 1 C A C A C A C A C A No  
119091769 119091769 101_153_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXXX XXXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 700 FICO. Guidelines require 4 months reserves and the borrower has 18.68 months reserves. Cleared 3 1 C A C A C A C A C A No  
119101893 119101893 101_10_12020 12020 Credit   Appraisal is dated after loan closing - Property 1 The Appraisal provided is dated XX/XX/XXXX after the closing date XX/XX/XXXX.   The exception 'Appraisal is dated after loan closing - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 658 FICO. Guidelines require 4 months reserves and the borrower has 6.42 months reserves. Cleared 3 1 C A C A C A C A C A No  
119101893 119101893 101_10_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXX XXXXXXXXX XXXXX. Client exception not found in file.   The exception 'Appraisal is missing interior Inspection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 658 FICO. Guidelines require 4 months reserves and the borrower has 6.42 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119101893 119101893 101_10_11146 11146 Credit   Hazard Insurance  Coverage  Insufficient
The hazard insurance policy in file reflected dwelling coverage of $X,XXX.XX.  The loan amount is $X,XXX.XX which leaves a shortage of hazard insurance coverage for $ -65900.00. The estimated cost new is $ 204000.00.   The exception 'Hazard Insurance  Coverage  Insufficient
' is cleared.
Guidelines require a minimum FICO of 600 and the borrower has a 658 FICO. Guidelines require 4 months reserves and the borrower has 6.42 months reserves. Cleared 3 1 C A C A C A C A C A No  
119101893 119101893 101_10_10232 10232 Credit   Missing Condo Questionnaire - Property 1  The Condo Questionnaire is missing from the loan file for property address XXX XXXXXXXXX XXXXX.  Additional conditions may apply.
  The exception 'Missing Condo Questionnaire - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 658 FICO. Guidelines require 4 months reserves and the borrower has 6.42 months reserves. Cleared 3 1 D A D A D A D A D A No  
119101893 119101893 101_10_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Missing Desk Review for property address XXX XXXXXXXXX XXXXX.   The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 658 FICO. Guidelines require 4 months reserves and the borrower has 6.42 months reserves. Cleared 3 1 C A C A C A C A C A No  
119101893 119101893 101_10_13291 13291 Credit   Prepayment penalty does not conform to lender guidelines Prepayment penalty does not conform to lender guidelines.  Prepayment penalty is 1% 2% 3%. Guidelines require a declining prepayment penalty.   The exception 'Prepayment penalty does not conform to lender guidelines' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 658 FICO. Guidelines require 4 months reserves and the borrower has 6.42 months reserves. Cleared 3 1 C A C A C A C A C A No  
119102039 119102039 101_2_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXX XXXXXX XXXXX XXX XXXXXXXXXX. Client exception not found in file.   The exception 'Appraisal is missing interior Inspection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 646 FICO. Guidelines require 4 months reserves and the borrower has 13.29 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119102039 119102039 101_2_12280 12280 Credit   Lease contains a purchase option Lease provided shows rent has an option to purchase.   Change status of 'Lease contains a purchase option' from Cleared to Rescind.
Client Response: OPUS review - Lease on pg 143 doesn't appear to include any rent/lease to own option.  Opus Response: Finding rescinded.
Guidelines require a minimum FICO of 600 and the borrower has a 646 FICO. Guidelines require 4 months reserves and the borrower has 13.29 months reserves. Rescind 3 1 C A C A C A C A C A No  
119102133 119102133 101_27_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXXX XXXXXX XXXXX. Client exception not found in file.   The exception 'Appraisal is missing interior Inspection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 715 FICO. Guidelines require 4 months reserves and the borrower has 8.66 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119102133 119102133 101_27_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Missing Desk Review for property address XXXX XXXXXX XXXXXX XXXXX.   The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 715 FICO. Guidelines require 4 months reserves and the borrower has 8.66 months reserves. Cleared 3 1 C A C A C A C A C A No  
119102300 119102300 101_216_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XX-XX XXXXXXX XX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 719 FICO. Guidelines require 4 months reserves and the borrower has 39.09 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119102300 119102300 101_216_11992 11992 Credit   Asset Verification is dated greater than 45 days from Note Date Summary: A personal account statement from XXXXX XXXXXX in the name the Guarantor, dated XX/XX/XXXX, with an ending balance of $ XX,XXX.XX; however, the account statement is stale dated over 45 days from the loan origination date of XX/XX/XXXX. Please provide updated account statement dated within 45 days of the loan origination date of XX/XX/XXXX.
  The exception 'Asset Verification is dated greater than 45 days from Note Date' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 719 FICO. Guidelines require 4 months reserves and the borrower has 39.09 months reserves. Cleared 3 1 C A C A C A C A C A No  
119102300 119102300 101_216_10182 10182 Credit   Failure to Investigate Background History - Borrower 1 The fraud report in file shows the Guarantor was convicted of criminal offense(s); however, no additional details of the criminal record were provided to confirm the Guarantor was eligible. Please provide evidence of dismissal of the criminal offense. Additional findings may apply.
Borrower Name: XXXXXXXXX XXXX XXXXX
Fraud Report: Lexis Nexis
State: CA
Offense: Not provided by source
Criminal Record Date: XX/XX/XXXX
  The exception 'Failure to Investigate Background History - Borrower 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 719 FICO. Guidelines require 4 months reserves and the borrower has 39.09 months reserves. Cleared 3 1 C A C A C A C A C A No  
119102300 119102300 101_216_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XX-XX XXXXXXX XX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 719 FICO. Guidelines require 4 months reserves and the borrower has 39.09 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112444 119112444 101_57_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXX XXXXXXX XXXXX. Client exception not found in file.   The exception 'Appraisal is missing interior Inspection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 703 FICO. Guidelines require 4 months reserves and the borrower has 278.12 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119112444 119112444 101_57_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXX XXXXXXX XXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 703 FICO. Guidelines require 4 months reserves and the borrower has 278.12 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112568 119112568 101_99_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX-XX XXXXXXXX XXXXX XXXXX. Client exception not found in file.   The exception 'Appraisal is missing interior Inspection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 638 FICO. Guidelines require 4 months reserves and the borrower has 81.93 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119112568 119112568 101_99_10182 10182 Credit   Failure to Investigate Background History - Borrower 1 The fraud report in file shows the Guarantor was convicted of criminal offense(s); however, no additional details of the criminal record were provided to confirm the Guarantor was eligible. Please provide evidence of dismissal of the criminal offense. Additional findings may apply.
Borrower Name: XXXX XXXXXX XXXXX
Fraud Report: Lexis Nexis
State: FL
Offense: Felony
Criminal Record Date: XX/XX/XXXX
  The exception 'Failure to Investigate Background History - Borrower 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 638 FICO. Guidelines require 4 months reserves and the borrower has 81.93 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112568 119112568 101_99_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Missing Desk Review for property address XXXX-XX XXXXXXXX XXXXX XXXXX.   Summary: Missing Desk Review for property address XXXX-XX XXXXXXXX XXXXX XXXXX.
Guidelines require a minimum FICO of 600 and the borrower has a 638 FICO. Guidelines require 4 months reserves and the borrower has 81.93 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112589 119112589 101_31_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XX-XX XXXXXXX XX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 719 FICO. Guidelines require 4 months reserves and the borrower has 43.56 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119112726 119112726 101_49_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XX-XX XXXXXXX XX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 719 FICO. Guidelines require 4 months reserves and the borrower has 39.67 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119112726 119112726 101_49_10182 10182 Credit   Failure to Investigate Background History - Borrower 1 The fraud report in file shows the Guarantor was convicted of criminal offense(s); however, no additional details of the criminal record were provided to confirm the Guarantor was eligible. Please provide evidence of dismissal of the criminal offense. Additional findings may apply.
Borrower Name: XXXXXXXXX XXXXX
Fraud Report: Lexis Nexis
State: CA
Offense: Not Provided
Criminal Record Date: XX/XX/XXXX
  The exception 'Failure to Investigate Background History - Borrower 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 719 FICO. Guidelines require 4 months reserves and the borrower has 39.67 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112726 119112726 101_49_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XX-XX XXXXXXX XX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 719 FICO. Guidelines require 4 months reserves and the borrower has 39.67 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112820 119112820 101_107_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXXXXX XXXXX XXX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 741 FICO. Guidelines require 4 months reserves and the borrower has 194.04 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119112820 119112820 101_107_10326 10326 Credit   Ineligible Transaction
Transaction is ineligible due to: Borrower is a non-permanaebt resident alien.
  The exception 'Ineligible Transaction' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 741 FICO. Guidelines require 4 months reserves and the borrower has 194.04 months reserves. Acknowledged 3 2 C B C B C B C B C B No  
119112820 119112820 101_107_10214 10214 Credit   Missing Operating Agreement not executed The operating agreement in file for XXXXXXXX XXXXXXXX XXXXXXXXXX XXX is not executed.
  The exception 'Missing Operating Agreement not executed' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 741 FICO. Guidelines require 4 months reserves and the borrower has 194.04 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112820 119112820 101_107_11332 11332 Credit   Unable to determine residency status - Borrower 1 Unable to determine residency status for XXXXXX XXXXXX XXXXXX.   The exception 'Unable to determine residency status - Borrower 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 741 FICO. Guidelines require 4 months reserves and the borrower has 194.04 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112874 119112874 101_103_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXX XXXX XXXX XXXX XXXXX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 640 FICO. Guidelines require 4 months reserves and the borrower has 41.75 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119112874 119112874 101_103_12149 12149 Credit   Missing Lease Agreement - Property 1 Summary: Missing Lease Agreement for property address XXX XXXX XXXX XXXX XXXXX.
  The exception 'Missing Lease Agreement - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 640 FICO. Guidelines require 4 months reserves and the borrower has 41.75 months reserves. Rescind 3 1 D A D A D A D A D A No  
119112874 119112874 101_103_12211 12211 Credit   Missing Property Management Questionnaire Missing Property Management Questionnaire.   The exception 'Missing Property Management Questionnaire' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 640 FICO. Guidelines require 4 months reserves and the borrower has 41.75 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112874 119112874 101_103_12007 12007 Credit   Missing signed settlement statement Settlement Statement is Not Executed by Borrower or certified by title company.   The exception 'Missing signed settlement statement' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 640 FICO. Guidelines require 4 months reserves and the borrower has 41.75 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112929 119112929 101_293_12866 12866 Credit   Missing Closing Instructions Missing Closing Instructions   The exception 'Missing Closing Instructions' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 46.24 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112929 119112929 101_293_12149 12149 Credit   Missing Lease Agreement - Property 1 Summary: Missing Lease Agreement for property address XXXX XXXXXXXXX XXXXX.
  The exception 'Missing Lease Agreement - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 46.24 months reserves. Rescind 3 1 D A D A D A D A D A No  
119112929 119112929 101_293_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXXXXXX XXXXX
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 46.24 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112929 119112929 101_293_13303 13303 Credit   Pending Valuation Review - Missing Desk Review - Property 2 Summary: Missing Desk Review for property address XXX XXXXXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 46.24 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_15086 15086 Property   Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1 Summary: Property 1 is in a recent disaster area and there is no post incident inspection.
  The exception 'Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_15087 15087 Property   Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 2 Summary: Property 2 is in a recent disaster area and there is no post incident inspection.
  The exception 'Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXX XXXXXX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119112939 119112939 101_290_15074 15074 Credit   FEMA: Property is in recent hazard area - Property 1 The following disasters were found:
-XXXXXX XXXXXX, XXXXXXXX-XXXX XXXXX, XXX XXXXXXXX from XX/XX/XXXX 4:00:01 AM to XX/XX/XXXX 4:00:00 AM-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXXX XXXXX, XXX XXXXXXXX from XX/XX/XXXX 5:01:00 AM to XX/XX/XXXX 5:59:00 PM
  No disasters found in this area within the time frame. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_15075 15075 Credit   FEMA: Property is in recent hazard area - Property 2 The following disasters were found:
-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXXXSXXXXXX, XXX XXXXXXXX from XX/XX/XXXX 12:01:00 AM to XX/XX/XXXX 12:59:00 PM
  User manually cleared exception Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_15076 15076 Credit   FEMA: Property is in recent hazard area - Property 3 The following disasters were found:
-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXX XXXXX, XXX XXXXXXXX from XX/XX/XXXX 12:01:00 AM to XX/XX/XXXX 12:59:00 PM
  The exception 'FEMA: Property is in recent hazard area - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_15077 15077 Credit   FEMA: Property is in recent hazard area - Property 4 The following disasters were found:
-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXX XXXXX, XXX XXXXXXXX from XX/XX/XXXX 4:00:01 AM to XX/XX/XXXX 4:00:00 AM-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXXX XXXXX,  XXX XXXXXXXX from XX/XX/XXXX 5:01:00 AM to XX/XX/XXXX 5:59:00 PM
  No disasters found in this area within the time frame. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_13188 13188 Credit   Lease does not comply with legal requirements - Property 1 Summary: Lease does not comply with legal requirements for property address XXXX XXXX XXXXXX.
  The exception 'Lease does not comply with legal requirements - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_13189 13189 Credit   Lease does not comply with legal requirements - Property 2 Summary: Lease does not comply with legal requirements for property address XXX XX XXXXXX XXXXXX.
  The exception 'Lease does not comply with legal requirements - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_13191 13191 Credit   Lease does not comply with legal requirements - Property 3 Summary: Lease does not comply with legal requirements for property address XXXX XXXX XXXXXXX X.
  The exception 'Lease does not comply with legal requirements - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_13193 13193 Credit   Lease does not comply with legal requirements - Property 4 Summary: Lease does not comply with legal requirements for property address XXXX XXXXXXXXXX XXXXX.
  The exception 'Lease does not comply with legal requirements - Property 4' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_12709 12709 Credit   Missing one month of evidence of rent collection - Property 1 Missing one month of evidence of rent collection for month to month lease for property address XXXX XXXX XXXXXXX.   The exception 'Missing one month of evidence of rent collection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112939 119112939 101_290_12711 12711 Credit   Missing one month of evidence of rent collection - Property 2 Missing one month of evidence of rent collection for month to month lease for property address XXX XX XXXXXX XXXXXX.   The exception 'Missing one month of evidence of rent collection - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112939 119112939 101_290_12712 12712 Credit   Missing one month of evidence of rent collection - Property 3 Missing one month of evidence of rent collection for month to month lease for property address XXXX XXXX XXXXXX X.   The exception 'Missing one month of evidence of rent collection - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112939 119112939 101_290_12713 12713 Credit   Missing one month of evidence of rent collection - Property 4 Missing one month of evidence of rent collection for month to month lease for property address XXXX XXXXXXXXXXX XXXXX.   The exception 'Missing one month of evidence of rent collection - Property 4' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112939 119112939 101_290_10213 10213 Credit   Missing Operating Agreement Summary: The loan file is missing an operating agreement or other documentation for XXXX XXXX to verify ownership.  As a result, there is no evidence that the full recourse guarantee was provided by at least 51% of the legal entity.
  The exception 'Missing Operating Agreement' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112939 119112939 101_290_12674 12674 Credit   Missing two months of rent checks for month to month lease - Property 1 Missing two months of rent checks for month to month lease for property address XXXX XXXX XXXXXX.   The exception 'Missing two months of rent checks for month to month lease - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112939 119112939 101_290_12675 12675 Credit   Missing two months of rent checks for month to month lease - Property 2 Missing two months of rent checks for month to month lease for property address XXX XX XXXXXX XXXXXX.   The exception 'Missing two months of rent checks for month to month lease - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112939 119112939 101_290_12676 12676 Credit   Missing two months of rent checks for month to month lease - Property 3 Missing two months of rent check for month to month lease for property address XXXX XXXX XXXXXX X.   The exception 'Missing two months of rent checks for month to month lease - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112939 119112939 101_290_12677 12677 Credit   Missing two months of rent checks for month to month lease - Property 4 Missing two months of rent check for month to month lease for property address XXXX XXXXXXXXX XXXXX.   The exception 'Missing two months of rent checks for month to month lease - Property 4' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 D A D A D A D A D A No  
119112939 119112939 101_290_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXX XXXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_13303 13303 Credit   Pending Valuation Review - Missing Desk Review - Property 2 Summary: Missing Desk Review for property address XXX XX XXXXXX XXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_13306 13306 Credit   Pending Valuation Review - Missing Desk Review - Property 3 Summary: Missing Desk Review for property address XXXX XXXX XXXXXX X.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_13307 13307 Credit   Pending Valuation Review - Missing Desk Review - Property 4 Summary: Missing Desk Review for property address XXXX XXXXXXXXXXX XXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 4' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_15088 15088 Credit   Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 3 Summary: Property 3 is in a recent disaster area and there is no post incident inspection.
  The exception 'Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112939 119112939 101_290_15089 15089 Credit   Property in Disaster Area - Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 4 Summary: Property 4 is in a recent disaster area and there is no post incident inspection.
  The exception 'Property in Disaster Area - Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 4' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 55.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112951 119112951 101_271_15086 15086 Property   Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1 Summary: Property 1 is in a recent disaster area and there is no post incident inspection.
  The exception 'Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112951 119112951 101_271_15087 15087 Property   Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 2 Property 2 is in a recent disaster area and there is no post incident inspection.   The exception 'Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112951 119112951 101_271_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXX XXXXXX X. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119112951 119112951 101_271_15074 15074 Credit   FEMA: Property is in recent hazard area - Property 1 Summary: The following disasters were found:
-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXXX XXXXX, XXX XXXXXXXX from XX/XX/XXXX 12:01:00 AM to XX/XX/XXXX 12:59:00 PM
  The exception 'FEMA: Property is in recent hazard area - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112951 119112951 101_271_15075 15075 Credit   FEMA: Property is in recent hazard area - Property 2 Summary: The following disasters were found:
-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXXX XXXXX, XXX XXXXXXXX from XX/XX/XXXX 12:01:00 AM to XX/XX/XXXX 12:59:00 PM
  No disasters found in this area within the time frame. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112951 119112951 101_271_15076 15076 Credit   FEMA: Property is in recent hazard area - Property 3 The following disasters were found:
-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXXX XXXXX, XXX XXXXXXXX from XX/XX/XXXX 4:00:01 AM to XX/XX/XXXX 4:00:00 AM-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXXX XXXXX, XXX XXXXXXXX from XX/XX/XXXX 5:01:00 AM to XX/XX/XXXX 5:59:00 PM
  No disasters found in this area within the time frame. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112951 119112951 101_271_15077 15077 Credit   FEMA: Property is in recent hazard area - Property 4 The following disasters were found:
-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXXX XXXXX, XXX XXXXXXXX from XX/XX/XXXX 4:00:01 AM to XX/XX/XXXX 4:00:00 AM-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXXX XXXXX, XXX XXXXXXXX from XX/XX/XXXX 5:01:00 AM to XX/XX/XXXX 5:59:00 PM
  No disasters found in this area within the time frame. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112951 119112951 101_271_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Missing Desk Review for property address XXXX XXXX XXXXXX X.   The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112951 119112951 101_271_13303 13303 Credit   Pending Valuation Review - Missing Desk Review - Property 2 Missing Desk Review for property address XXXX XXXX XXX X.   The exception 'Pending Valuation Review - Missing Desk Review - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112951 119112951 101_271_13306 13306 Credit   Pending Valuation Review - Missing Desk Review - Property 3 Summary: Missing Desk Review for property address XXXX XXXX XXXXXX X.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112951 119112951 101_271_13307 13307 Credit   Pending Valuation Review - Missing Desk Review - Property 4 Summary: Missing Desk Review for property address XX XXXX XXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 4' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112951 119112951 101_271_15088 15088 Credit   Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 3 Property 3 is in a recent disaster area and there is no post incident inspection.   The exception 'Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 3' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 720 FICO. Guidelines require 4 months reserves and the borrower has 22.86 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112997 119112997 101_282_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXX XX XXXX XXXXX. Client exception not found in file.   The exception 'Appraisal is missing interior Inspection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 696 FICO. Guidelines require 4 months reserves and the borrower has 26.17 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119112997 119112997 101_282_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Missing Desk Review for property address XXX XX XXXX XXXXX.   The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 696 FICO. Guidelines require 4 months reserves and the borrower has 26.17 months reserves. Cleared 3 1 C A C A C A C A C A No  
119112997 119112997 101_282_13303 13303 Credit   Pending Valuation Review - Missing Desk Review - Property 2 Missing Desk Review for property address XXXX XXXXXXXXX XXXXXXXX XXXXX.   The exception 'Pending Valuation Review - Missing Desk Review - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 696 FICO. Guidelines require 4 months reserves and the borrower has 26.17 months reserves. Cleared 3 1 C A C A C A C A C A No  
119123142 119123142 101_286_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXX XXXXX XXXXXXX XXXXXX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 693 FICO. Guidelines require 4 months reserves and the borrower has 5.67 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119123142 119123142 101_286_1175 1175 Credit   Credit score does not meet guidelines Summary: Credit score of 0 is less than  600, the minimum credit score required per lender guidelines
  The exception 'Credit score does not meet guidelines' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 693 FICO. Guidelines require 4 months reserves and the borrower has 5.67 months reserves. Cleared 3 1 C A C A C A C A C A No  
119123142 119123142 101_286_11990 11990 Credit   Missing Business Purpose Affidavit Summary: The loan file is missing the Business Purpose Affidavit as required by Lender guidelines.
  The exception 'Missing Business Purpose Affidavit' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 693 FICO. Guidelines require 4 months reserves and the borrower has 5.67 months reserves. Cleared 3 1 D A D A D A D A D A No  
119123142 119123142 101_286_10215 10215 Credit   Missing Evidence of Entity Percentage Ownership Missing Evidence of Entity Percentage Ownership for each guarantor.
  The exception 'Missing Evidence of Entity Percentage Ownership' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 693 FICO. Guidelines require 4 months reserves and the borrower has 5.67 months reserves. Cleared 3 1 D A D A D A D A D A No  
119123142 119123142 101_286_11981 11981 Credit   Missing Guaranty Agreement - Borrower 1 Summary: Missing Guarantor Agreements for guarantor XXXXXX XXXXXX. Operating Agreement provided for XXXXXX XX XXXXXXXXXX, XXX reflect guarantor XXXXXXX XXXXXX owns ___% of XXXXXX XX XXXXXXXXXX, XXX. Lender Guidelines reflect that guarantors who directly or indirectly own at least 51% of the Borrowing Entity, should have Guarantor Agreements, unless approved by the Lender. The loan file is missing evidence the Lender waived the Guarantor Agreement requirement for guarantor XXXXXXX XXXXXX.
  The exception 'Missing Guaranty Agreement - Borrower 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 693 FICO. Guidelines require 4 months reserves and the borrower has 5.67 months reserves. Rescind 3 1 D A D A D A D A D A No  
119123142 119123142 101_286_11983 11983 Credit   Missing Guaranty Agreement - Borrower 2 Summary: Missing Guarantor Agreements for guarantor DXXXXX XXXXX. Operating Agreement provided for XXXXXX XX XXXXXXXXXX, XXX reflect guarantor XXXXX XXXXX owns ___% of XXXXXX XX XXXXXXXXXX, XXX. Lender Guidelines reflect that guarantors who directly or indirectly own at least 51% of the Borrowing Entity, should have Guarantor Agreements, unless approved by the Lender. The loan file is missing evidence the Lender waived the Guarantor Agreement requirement for guarantor XXXXXX XXXXXX.
  The exception 'Missing Guaranty Agreement - Borrower 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 693 FICO. Guidelines require 4 months reserves and the borrower has 5.67 months reserves. Rescind 3 1 D A D A D A D A D A No  
119123142 119123142 101_286_12207 12207 Credit   Missing Rent Comparable Schedule - Property 2 Summary: Missing rent comparable schedule for property address XXX XXXXX XXXXXXX XXXXXX XX.
  The exception 'Missing Rent Comparable Schedule - Property 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 693 FICO. Guidelines require 4 months reserves and the borrower has 5.67 months reserves. Cleared 3 1 D A D A D A D A D A No  
119123142 119123142 101_286_12856 12856 Credit   Property consists of more than one parcel/tax lot Summary: Property consists of more than one parcel/tax lot.
  The exception 'Property consists of more than one parcel/tax lot' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 693 FICO. Guidelines require 4 months reserves and the borrower has 5.67 months reserves. Cleared 3 1 C A C A C A C A C A No  
119123259 119123259 101_60_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXX XXXXXX. Client exception not found in file.   Summary: The exception 'Appraisal is missing interior Inspection - Property 1' is cleared.
From fields in template:
Interior Inspection ---- Yes
Guidelines require a minimum FICO of 600 and the borrower has a 670 FICO. Guidelines require 4 months reserves and the borrower has 81.33 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119123259 119123259 101_60_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXX XXXXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 670 FICO. Guidelines require 4 months reserves and the borrower has 81.33 months reserves. Cleared 3 1 C A C A C A C A C A No  
119123376 119123376 101_3_12020 12020 Credit   Appraisal is dated after loan closing - Property 1 The Appraisal provided is dated XX/XX/XXXX after the closing date XX/XX/XXXX.   Change status of 'Appraisal is dated after loan closing - Property 1' from Open Rebuttal to Acknowledged by Seller.
 Valuations - BPO > 90 days old at funding.  New BPO to be obtained post-closing.  Compensating Factors:  1. Collateral Location; 2. Reserves.
Guidelines require a minimum FICO of 600 and the borrower has a 700 FICO. Guidelines require 4 months reserves and the borrower has 19.84 months reserves. Acknowledged 3 2 C B C B C B C B C B No  
119123376 119123376 101_3_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXX-XXX XXXXXX XXXXXXX XXX. Client exception not found in file.   The exception 'Appraisal is missing interior Inspection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 700 FICO. Guidelines require 4 months reserves and the borrower has 19.84 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119123376 119123376 101_3_12012 12012 Credit   Borrower 2 credit report dated greater than 90 days from Note Date Lender Guidelines require for (i) each borrower (if natural person), (ii) each guarantor and managing member, and (iii) owners of the borrower with an interest of 51% or greater, the originator must obtain a credit history from at least two bureaus within 90 days of loan origination.  The credit report for guarantor XXXX X XXXXXX  is dated XX/XX/XXXX, which is greater than 90 days prior to the loan origination date of XX/XX/XXXX.   The exception 'Borrower 2 credit report dated greater than 90 days from Note Date' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 700 FICO. Guidelines require 4 months reserves and the borrower has 19.84 months reserves. Cleared 3 1 C A C A C A C A C A No  
119123376 119123376 101_3_12068 12068 Credit   Credit Report is dated after loan closing - Borrower 1 Credit report for XXXXX X XXXXX is dated XX/XX/XXXX after the closing date XX/XX/XXXX.   The exception 'Credit Report is dated after loan closing - Borrower 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 700 FICO. Guidelines require 4 months reserves and the borrower has 19.84 months reserves. Acknowledged 3 2 C B C B C B C B C B No  
119123376 119123376 101_3_12070 12070 Credit   Credit Report is dated after loan closing - Borrower 2 Credit report for XXXX X XXXXXX is dated XX/XX/XXXX after the closing date XX/XX/XXXX.   The exception 'Credit Report is dated after loan closing - Borrower 2' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 700 FICO. Guidelines require 4 months reserves and the borrower has 19.84 months reserves. Acknowledged 3 2 C B C B C B C B C B No  
119123376 119123376 101_3_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Missing Desk Review for property address XXX-XXX XXXXXX XXXXXXX XXX.   The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 700 FICO. Guidelines require 4 months reserves and the borrower has 19.84 months reserves. Cleared 3 1 C A C A C A C A C A No  
119123376 119123376 101_3_11771 11771 Credit   Reserves Insufficient Verified assets of $X,XXX.XX minus the cash to close of $204.99, unverified earnest money deposit of $0.00, total judgments over $15K of $0.00, and unfinanced budget of $0.00 equates to 3.15 months of reserves totaling $8188.10 which is less than the required 4.00 months reserves, totaling $10394.92.   The exception 'Reserves Insufficient' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 700 FICO. Guidelines require 4 months reserves and the borrower has 19.84 months reserves. Cleared 3 1 C A C A C A C A C A No  
119123452 119123452 101_63_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXXX XXXXXXX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 727 FICO. Guidelines require 4 months reserves and the borrower has 16.88 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119123452 119123452 101_63_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXXX XXXXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 727 FICO. Guidelines require 4 months reserves and the borrower has 16.88 months reserves. Cleared 3 1 C A C A C A C A C A No  
119123458 119123458 101_83_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXX XXXXX XXXXX. Client exception not found in file.   Summary: The exception 'Appraisal is missing interior Inspection - Property 1' is cleared.
From fields in template:
Interior Inspection ---- Yes
Guidelines require a minimum FICO of 600 and the borrower has a 659 FICO. Guidelines require 4 months reserves and the borrower has 36.35 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
119123458 119123458 101_83_13006 13006 Credit   Missing Spousal Consent Missing Spousal Consent   The exception 'Missing Spousal Consent' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 659 FICO. Guidelines require 4 months reserves and the borrower has 36.35 months reserves. Cleared 3 1 D A D A D A D A D A No  
120013715 120013715 101_75_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXX XXXXX XX. Client exception not found in file.   Summary: The exception 'Appraisal is missing interior Inspection - Property 1' is cleared.
From fields in template:
Interior Inspection ---- Yes
Guidelines require a minimum FICO of 600 and the borrower has a 708 FICO. Guidelines require 4 months reserves and the borrower has 94.98 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120013715 120013715 101_75_10325 10325 Credit   Missing Required Documentation The loan file is missing:
a BPO as required for properties located in the State of Texas
  The exception 'Missing Required Documentation' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 708 FICO. Guidelines require 4 months reserves and the borrower has 94.98 months reserves. Cleared 3 1 D A D A D A D A D A No  
120013715 120013715 101_75_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXX XXXXX XX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 708 FICO. Guidelines require 4 months reserves and the borrower has 94.98 months reserves. Cleared 3 1 C A C A C A C A C A No  
120013721 120013721 101_85_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXX XXXX XXXXXXXX XXXX. Client exception not found in file.   Summary: The exception 'Appraisal is missing interior Inspection - Property 1' is cleared.
From fields in template:
Interior Inspection ---- Yes
Guidelines require a minimum FICO of 600 and the borrower has a 609 FICO. Guidelines require 4 months reserves and the borrower has 12.42 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120013721 120013721 101_85_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXX XXXX XXXXXXXX XXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 609 FICO. Guidelines require 4 months reserves and the borrower has 12.42 months reserves. Cleared 3 1 C A C A C A C A C A No  
120013721 120013721 101_85_10487 10487 Credit   Seasoning Requirements for Bankruptcy not met
The Lender's guidelines require 2 years seasoning after a Bankruptcy.  Per the credit report the borrowers were discharged from Bankruptcy XX/XX/XXXX, which is less than the minimum requirement.   Change status of 'Seasoning Requirements for Bankruptcy not met
' from Open Rebuttal to Acknowledged by Seller.
Borrower's bankruptcy was dismissed and therefore is not considered active.  Dismissal did occur within the last 24 months and was addressed with LOE from borrower.  UW deemed explanation acceptable and proceeded with the transaction.  No additional documentation required.
Guidelines require a minimum FICO of 600 and the borrower has a 609 FICO. Guidelines require 4 months reserves and the borrower has 12.42 months reserves. Acknowledged 3 2 C B C B C B C B C B No  
120013724 120013724 101_76_15086 15086 Property   Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1 Property 1 is in a recent disaster area and there is no post incident inspection.   The exception 'Property in Disaster Area – Property located in a FEMA declared disaster area. Inspection post incident date was not provided - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 686 FICO. Guidelines require 4 months reserves and the borrower has 39.33 months reserves. Cleared 3 1 C A C A C A C A C A No  
120013724 120013724 101_76_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXXXX XXXX. Client exception not found in file.   Summary: The exception 'Appraisal is missing interior Inspection - Property 1' is cleared.
From fields in template:
Interior Inspection ---- Yes
Guidelines require a minimum FICO of 600 and the borrower has a 686 FICO. Guidelines require 4 months reserves and the borrower has 39.33 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120013724 120013724 101_76_15074 15074 Credit   FEMA: Property is in recent hazard area - Property 1 Summary: The following disasters were found:
-XXXXXX XXXXXX, XXXXXXXXX, XXXXXXXX-XXXX XXXXX, XXX XXXXXXXX from XX/XX/XXXX 12:01:00 AM to XX/XX/XXXX 12:59:00 PM

The exeception is currently marked as Material.
The exeception status is currently Active.
This is an auto populated finding and there is not indication in file of a post appraisal FEMA disaster. I ran this by XXXXXXX and it appears finding is not legit.
Client Response:  XXXX review - provide post disaster inspection.  Opus Response:  Client agrees; Finding remains.
06.26.2020: Post Disaster Inspection Uploaded.  Opus Response: No documentation received. Finding remains.
  The exception 'FEMA: Property is in recent hazard area - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 686 FICO. Guidelines require 4 months reserves and the borrower has 39.33 months reserves. Cleared 3 1 C A C A C A C A C A No  
120013724 120013724 101_76_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXXXX XXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 686 FICO. Guidelines require 4 months reserves and the borrower has 39.33 months reserves. Cleared 3 1 C A C A C A C A C A No  
120013785 120013785 101_82_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXXXXXXX XXXX XXXXX. Client exception not found in file.   Summary: The exception 'Appraisal is missing interior Inspection - Property 1' is cleared.
From fields in template:
Interior Inspection ---- Yes
Guidelines require a minimum FICO of 600 and the borrower has a 662 FICO. Guidelines require 4 months reserves and the borrower has 58.45 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120013785 120013785 101_82_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXXXXXXX XXXX XXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 662 FICO. Guidelines require 4 months reserves and the borrower has 58.45 months reserves. Cleared 3 1 C A C A C A C A C A No  
120013792 120013792 101_65_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXX XXXXX XXX. Client exception not found in file.   Summary: The exception 'Appraisal is missing interior Inspection - Property 1' is cleared.
From fields in template:
Interior Inspection ---- Yes
Guidelines require a minimum FICO of 600 and the borrower has a 646 FICO. Guidelines require 4 months reserves and the borrower has 11.96 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120013792 120013792 101_65_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXX XXXXX XXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 646 FICO. Guidelines require 4 months reserves and the borrower has 11.96 months reserves. Cleared 3 1 C A C A C A C A C A No  
120013861 120013861 101_74_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXXXXX XXX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 634 FICO. Guidelines require 4 months reserves and the borrower has 165.54 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120013861 120013861 101_74_11219 11219 Credit   Missing Credit History from at least two bureaus Lender Guidelines requires the originator to obtain a credit history from at least two bureaus within 90 days of loan origination for the sole guarantor. The credit report dated ___ reflects a credit score from only one bureau.
  Change status of 'Missing Credit History from at least two bureaus' from Cleared to Rescind.
Client Response:  XXXX Review - Missing Credit History from at least 2 bureaus - See 3 bureau merged credit report Page 108 of UW file dated XX/XX/XXXX  XXXX Response:  Finding rescinded.
Guidelines require a minimum FICO of 600 and the borrower has a 634 FICO. Guidelines require 4 months reserves and the borrower has 165.54 months reserves. Rescind 3 1 D A D A D A D A D A No  
120013861 120013861 101_74_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXXXXX XXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 634 FICO. Guidelines require 4 months reserves and the borrower has 165.54 months reserves. Cleared 3 1 C A C A C A C A C A No  
120013878 120013878 101_143_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXX XXXXXXXXX XXXXXX. Client exception not found in file.   The exception 'Appraisal is missing interior Inspection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 714 FICO. Guidelines require 4 months reserves and the borrower has 139.75 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120013878 120013878 101_143_12149 12149 Credit   Missing Lease Agreement - Property 1 Missing Lease Agreement for property address XXX XXXXXXXXX XXXXXX.   Rental Lease in file is expired XX/XX/XXXX.     Change status of 'Missing Lease Agreement - Property 1' from Open Rebuttal to Acknowledged by Client.
Lease agreement dated X/X/XXXX goes month to month explicitly, no max period to extend. $1250/mo rent is <20% of market rent at $1096. UWG have no requirement or restriction on month to month.
Buyer approved downgrade to Grade B.
Comp factors include Tier 1 investor, FICO 714.
Guidelines require a minimum FICO of 600 and the borrower has a 714 FICO. Guidelines require 4 months reserves and the borrower has 139.75 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120013878 120013878 101_143_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Missing Desk Review for property address XXX XXXXXXXXX XXXXXX.   Summary: Missing Desk Review for property address XXX XXXXXXXXX XXXXXX.
Guidelines require a minimum FICO of 600 and the borrower has a 714 FICO. Guidelines require 4 months reserves and the borrower has 139.75 months reserves. Cleared 3 1 C A C A C A C A C A No  
120013945 120013945 101_71_12149 12149 Credit   Missing Lease Agreement - Property 1 Missing Lease Agreement for property address XXXX XXXXX XXXXX XXXXX XX XXX X.  The lease provided expired on XX/XX/XXXX.   The exception 'Missing Lease Agreement - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 684 FICO. Guidelines require 4 months reserves and the borrower has 7.15 months reserves. Cleared 3 1 D A D A D A D A D A No  
120013945 120013945 101_71_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXX XXXXX XXXXX XX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 684 FICO. Guidelines require 4 months reserves and the borrower has 7.15 months reserves. Cleared 3 1 C A C A C A C A C A No  
120014011 120014011 101_123_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXXXXX XXXXXX. Client exception not found in file.   The exception 'Appraisal is missing interior Inspection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 668 FICO. Guidelines require 4 months reserves and the borrower has 109.35 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120014034 120014034 101_79_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXX XXXXXXXXX XXXXX. Client exception not found in file.   The exception 'Appraisal is missing interior Inspection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 666 FICO. Guidelines require 4 months reserves and the borrower has 80.59 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120014034 120014034 101_79_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXX XXXXXXXXX XXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 666 FICO. Guidelines require 4 months reserves and the borrower has 80.59 months reserves. Cleared 3 1 C A C A C A C A C A No  
120014055 120014055 101_237_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXXXXX XXXXX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 708 FICO. Guidelines require 4 months reserves and the borrower has 113.74 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120014055 120014055 101_237_13097 13097 Credit   Debt Service Coverage Ratio below minimum Summary: Debt Service Coverage Ratio is below minimum of 0.070.

The exeception is currently marked as Non-Material.
DSCR is 1.3 per manual calculation
  The exception 'Debt Service Coverage Ratio below minimum' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 708 FICO. Guidelines require 4 months reserves and the borrower has 113.74 months reserves. Rescind 3 1 C A C A C A C A C A No  
120014055 120014055 101_237_12149 12149 Credit   Missing Lease Agreement - Property 1 Summary: Missing Lease Agreement for property address XXXX XXXXXXXX XXXXX.
  The exception 'Missing Lease Agreement - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 708 FICO. Guidelines require 4 months reserves and the borrower has 113.74 months reserves. Rescind 3 1 D A D A D A D A D A No  
120014055 120014055 101_237_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXXXXX XXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 708 FICO. Guidelines require 4 months reserves and the borrower has 113.74 months reserves. Cleared 3 1 C A C A C A C A C A No  
120014146 120014146 101_59_12709 12709 Credit   Missing one month of evidence of rent collection - Property 1 Missing one month of evidence of rent collection for month to month lease for property address XXXX XXXX XXXXXX XXXXX.   The exception 'Missing one month of evidence of rent collection - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 749 FICO. Guidelines require 4 months reserves and the borrower has 20.13 months reserves. Rescind 3 1 D A D A D A D A D A No  
120014146 120014146 101_59_12674 12674 Credit   Missing two months of rent checks for month to month lease - Property 1 Missing two months of rent checks for month to month lease for property address XXXX XXXX XXXXXX XXXXX.   Change status of 'Missing two months of rent checks for month to month lease - Property 1' from Cleared to Rescind.
06.29.2020 Client Response: Evidence of rents received not required due to <20% variance between actual rents ($2,676) and market rents ($2,670).  
Guidelines require a minimum FICO of 600 and the borrower has a 749 FICO. Guidelines require 4 months reserves and the borrower has 20.13 months reserves. Rescind 3 1 D A D A D A D A D A No  
120014146 120014146 101_59_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXX XXXXXX XXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 749 FICO. Guidelines require 4 months reserves and the borrower has 20.13 months reserves. Cleared 3 1 C A C A C A C A C A No  
120014158 120014158 101_248_12149 12149 Credit   Missing Lease Agreement - Property 1 Missing Lease Agreement for property address XXXX XXXXXX XXXXX. Subject is vacant.   The exception 'Missing Lease Agreement - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 656 FICO. Guidelines require 4 months reserves and the borrower has 9.99 months reserves. Cleared 3 1 D A D A D A D A D A No  
120014162 120014162 101_251_12149 12149 Credit   Missing Lease Agreement - Property 1 Summary: Missing Lease Agreement for property address XXXX XXXXXXXXXXXXX XXXX.
  The exception 'Missing Lease Agreement - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 656 FICO. Guidelines require 4 months reserves and the borrower has 24.3 months reserves. Cleared 3 1 D A D A D A D A D A No  
120014162 120014162 101_251_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXXXXXXXXXXX XXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 656 FICO. Guidelines require 4 months reserves and the borrower has 24.3 months reserves. Cleared 3 1 C A C A C A C A C A No  
120014283 120014283 101_242_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXX XX X. Client exception not found in file.   Summary: The exception 'Appraisal is missing interior Inspection - Property 1' is cleared.
From fields in template:
Interior Inspection ---- Yes

CDA in file contains interior photos
Guidelines require a minimum FICO of 600 and the borrower has a 717 FICO. Guidelines require 4 months reserves and the borrower has 185.56 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120014283 120014283 101_242_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX XXXX XX X.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 717 FICO. Guidelines require 4 months reserves and the borrower has 185.56 months reserves. Cleared 3 1 C A C A C A C A C A No  
120024297 120024297 101_250_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX XXXXXX X XXXXX XXXX XX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 604 FICO. Guidelines require 4 months reserves and the borrower has 39.04 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120024297 120024297 101_250_10725 10725 Credit   Title Coverage Insufficient
Guidelines require a Title Insurance Commitment or Title Insurance Policy to be obtained at or prior to closing with Title Insurance issued for $ 149250.00. Despite this requirement, the Title Insurance Commitment was issued in the amount of $ 139300.00 and does not reflect the required minimum coverage.   The exception 'Title Coverage Insufficient
' is cleared.
Guidelines require a minimum FICO of 600 and the borrower has a 604 FICO. Guidelines require 4 months reserves and the borrower has 39.04 months reserves. Cleared 3 1 C A C A C A C A C A No  
120024309 120024309 101_226_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXXX X XXXXXXXX XXXX. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 28.53 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120024309 120024309 101_226_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXXX X XXXXXXXX XXXXX.
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 28.53 months reserves. Cleared 3 1 C A C A C A C A C A No  
120024468 120024468 101_247_10345 10345 Credit   Appraisal is missing interior Inspection - Property 1 Guidelines require an interior appraisal unless exception approved by client. File only contains a Other for property address XXX XXXXXXXX XX X. Client exception not found in file.   Change status of 'Appraisal is missing interior Inspection - Property 1' from Active to Acknowledged by Client.
Although the appraisal reviewed within the loan file was not completed on the requisite GSE form, the required physical interior inspection of the property was performed along with a secondary valuation confirming value within 10%.
Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 5.55 months reserves. Acknowledged 3 2 D B D B D B D B D B No  
120024468 120024468 101_247_12042 12042 Credit   Incomplete Hazard Declaration - Property 1 All pages of the hazard insurance were not provided for property address XXX XXXXXXXX XX X..   The exception 'Incomplete Hazard Declaration - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 5.55 months reserves. Cleared 3 1 D A D A D A D A D A No  
120024468 120024468 101_247_10213 10213 Credit   Missing Operating Agreement The loan file is missing an operating agreement or other documentation for ___ to verify ownership.  As a result, there is no evidence that the full recourse guarantee was provided by at least 51% of the legal entity.   The exception 'Missing Operating Agreement' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 5.55 months reserves. Cleared 3 1 D A D A D A D A D A No  
120024468 120024468 101_247_13302 13302 Credit   Pending Valuation Review - Missing Desk Review - Property 1 Summary: Missing Desk Review for property address XXX XXXXXXXX XX X..
  The exception 'Pending Valuation Review - Missing Desk Review - Property 1' is cleared. Guidelines require a minimum FICO of 600 and the borrower has a 682 FICO. Guidelines require 4 months reserves and the borrower has 5.55 months reserves. Cleared 3 1 C A C A C A C A C A No  
BC2019-006552   dc8586dc-3ff0-e911-94d7-f4e9d4a75ba2 1615 Credit   Failure to Investigate Credit History An OFAC search is required to be run on all guarantors. The origination file does not contain OFAC information.  We do not run OFAC searches. Please advise if the Background check x the Credit are sufficient. Provided XX/XX/XXXX. 02/07/2020: Client Agrees. Exception remains.  11/10/19 - Finding remains. OFAC not located in upload10/24/19 - Finding remains. Guidelines state that borrowers must be run through OFAC. No Mortgage Lates No mortgage lates FICO is higher than guideline minimum 665 > 640 Active 3 3 C C C C C C C C C C No  
BC2019-006552   1ea1282f-47f0-e911-94d7-f4e9d4a75ba2 6 Credit   Insufficient Reserves Lender requires 6 months reserves totaling $13,562.52. The file contains 1 account statement in the name the XXXXXXX XXX dated XX/XX/XXXX.  This statement had ending balances totaling $XX,XXX.XX.  However, this statement is over 60 days from the loan origination date of XX/XX/XXXX.  Please provide account statements dated within 60 days of the loan origination date of XX/XX/XXXX.  Uploaded 11.21.2019 12/5/19 - Finding remains. Statements provided are dated after closing. No Mortgage Lates No mortgage lates FICO is higher than guideline minimum 665 > 640 Active 3 3 C C C C C C C C C C No  
BC2019-006552   11ac8d22-40f0-e911-94d7-f4e9d4a75ba2 2 Credit   LTV exceeds guidelines Lender guidelines requires a maximum LTV of 65.00% however the current LTV of the subject is 70.00%.  The max LTV for a cash-out refinance is 65% with a 665 credit score and a DSCR >1.15 with a loan amount less than or equal to $750,000. Agreed 02/07/2020: Client Agrees. Exception remains.    No Mortgage Lates No mortgage lates FICO is higher than guideline minimum 665 > 640 Active 3 3 C C C C C C C C C C No  
BC2019-006552   e4cfc83b-31f0-e911-94d7-f4e9d4a75ba2 915 Credit   Missing asset documentation The loan file is missing the Use of Proceeds / Use of Cash-out Disclosure as required by Lender guidelines.   10/17/19 - Finding rescinded as BPA supports cash out to be used for business purposes only. No Mortgage Lates No mortgage lates FICO is higher than guideline minimum 665 > 640 Rescind 1 1 A A A A A A A A A A No  
BC2019-006552   a95b5525-48f0-e911-94d7-f4e9d4a75ba2 912 Credit   Missing credit report Lender Guidelines requires the originator to obtain a credit history from at least two bureaus within 90 days of loan origination for the sole guarantor. The credit report dated XX/XX/XXXX for the sole guarantor reflects a credit score from only one bureau.  We provide both a hard and soft pull. The soft pull reflecting just one bureau will be the most recent. Please advise if this is sufficient.   10/24/19 - Finding remains. Guidelines require at least 2 bureaus. No Mortgage Lates No mortgage lates FICO is higher than guideline minimum 665 > 640 Active 3 3 D D D D D D D D D D No  
BC2019-006552   e42777fe-3ff0-e911-94d7-f4e9d4a75ba2 724 Credit   Missing Documentation The loan file is missing evidence of the Guarantor's track record to qualify for the Experienced Customers loan product utilizing public records. Please provide supporting documentation reflecting the borrower/ guarantor’s experience with (2) or more properties. Additional findings may apply. Uploaded again on 11.21.2019 12/5/19 - Finding remains. Guidelines require proof of rents received. Data Tree is not sufficient. No Mortgage Lates No mortgage lates FICO is higher than guideline minimum 665 > 640 Active 3 3 D D D D D D D D D D No  
BC2019-007863   49d85c20-7df0-e911-94d7-f4e9d4a75ba2 741 Credit   Failure to obtain Documentation Lender guidelines require personal identification of all guarantors (driver's license, passport or other government issued photo identification). The loan file is missing the personal identification for the guarantor. The driver's license provided is illegible. 10/18/2019 - There is a notarized Name Affidavit in the closing file - does this not meet the requirements? Please advise. 10/18/2019 - Finding cleared.  Notarized name affidavit received in place of illegible ID. No Mortgage Lates No lates FICO is higher than guideline minimum 784 > 640 Cleared 3 1 D A D A D A D A D A No  
BC2019-007863   110cbec4-6cf0-e911-94d7-f4e9d4a75ba2 15 Credit   Failure to obtain Hazard Insurance Declaration A hazard insurance declaration for the subject property was not provided. The insurance binder provided does not reflect the premium amount and is missing a minimum of 6 months rent loss coverage as required by lender guidelines. Agreed 02/07/2020: Client Agrees. Exception remains. No Mortgage Lates No lates FICO is higher than guideline minimum 784 > 640 Active 3 3 D D D D D D D D D D No  
BC2019-007863   fda36bf3-7bf0-e911-94d7-f4e9d4a75ba2 2 Credit   LTV exceeds guidelines 70.35% is greater than 70% maximum LTV for the Experienced Investor Cash Out refinance program. Agreed 02/07/2020: Client Agrees. Exception remains. No Mortgage Lates No lates FICO is higher than guideline minimum 784 > 640 Active 3 3 C C C C C C C C C C No  
BC2019-007863   bb36c9cf-7df0-e911-94d7-f4e9d4a75ba2 915 Credit   Missing asset documentation The Final HUD / Settlement Statement is missing from the loan file. The Final HUD / Settlement Statement provided is illegible. Uploaded 12/5/19 - Finding cleared. HUD provided No Mortgage Lates No lates FICO is higher than guideline minimum 784 > 640 Cleared 3 1 D A D A D A D A D A No  
BC2019-007865   2ae0cb9e-20f1-e911-94d7-f4e9d4a75ba2 2 Credit   LTV exceeds guidelines Lender guidelines requires a maximum LTV of 65.00% however the current LTV of the subject is 75.00%. The max LTV for a cash-out refinance is 65% with a FICO score of 640-699, DSCR <1.15, and a loan amount between $1,000,001 and $5,000,000. Agreed 02/07/2020: Client Agrees. Exception remains. No Mortgage Lates No lates Reserves are higher than guideline minimum 80 > 6 months required FICO is higher than guideline minimum 683 > 640 required Active 3 3 C C C C C C C C C C No  
BC2019-007865   f0aa2dea-20f1-e911-94d7-f4e9d4a75ba2 24 Credit   Missing appraisal The appraisal was not obtained from an approved vendor. Diversified Realty Appraisal is not listed on the guidelines as an Approved Valuation Vendor. This file was outsourced by Appraisal Nation (an approved Vendor) 10/24/19 - Finding remains. Please provide evidence that Appraisal Nation outsourced. No Mortgage Lates No lates Reserves are higher than guideline minimum 80 > 6 months required FICO is higher than guideline minimum 683 > 640 required Active 3 3 D D D D D D D D D D No  
BC2019-007876   756979c9-b2f1-e911-94d7-f4e9d4a75ba2 1615 Credit   Failure to Investigate Credit History An OFAC search is required to be run on all guarantors. The origination file does not contain OFAC information.  Borrower's are Foreign Nationals - background checks have been uploaded. Kindly advise if these are sufficient.  10/24/19 - Finding remains. Background checks not located in upload. No Mortgage Lates No lates Reserves are higher than guideline minimum 12 > 6 months required Active 3 3 C C C C C C C C C C No  
BC2019-007876   f24acb98-b1f1-e911-94d7-f4e9d4a75ba2 23 Credit   Failure to obtain Credit Report A credit report for the borrower and co-borrower were not provided. Additional findings may apply. Agreed - need to request a guideline exception 11.21.2019 11/21/19 - Finding waived by client with compensating factors of compensating factors of 70 LTV (vs 75 max) and 2.95 DSCR No Mortgage Lates No lates Reserves are higher than guideline minimum 12 > 6 months required Acknowledged 3 2 D B D B D B D B D B No  
BC2019-007876   e7b95fc5-c4f1-e911-94d7-f4e9d4a75ba2 15 Credit   Failure to obtain Hazard Insurance Declaration A hazard insurance declaration for the subject property was not provided. The evidence of hazard insurance in file reflects the incorrect property address of XXX X XXXXX XXXXXXXX, XX XXXXX rather than the actual property address of XXX XXXXXX XXXXXX XXXXXX, XX XXXXX.     12/5/19 - Finding cleared. Dec page provided No Mortgage Lates No lates Reserves are higher than guideline minimum 12 > 6 months required Cleared 3 1 D A D A D A D A D A No  
BC2019-007876   0a0c3110-b4f1-e911-94d7-f4e9d4a75ba2 1 Credit   General Credit Exception The file is missing evidence of the property net cash flow statement (6 units) with annual property taxes.  Unable to accurately calculate DSCR due to the missing rent schedule at XXXX XXXX XXXXX and the property tax information.   Rent Schedules have been uploaded 12/5/19 - Finding cleared. Rent schedule provided No Mortgage Lates No lates Reserves are higher than guideline minimum 12 > 6 months required Cleared 3 1 D A D A D A D A D A No  
BC2019-007876   3d0a1d57-b2f1-e911-94d7-f4e9d4a75ba2 24 Credit   Missing appraisal The file does not contain a full appraisal for all 6 of the properties. Once the appraisals are received additional findings or valuation products may be required. All appraisals and appraisal reviews have been uploaded 12/5/19 - Finding cleared. Appraisals provided No Mortgage Lates No lates Reserves are higher than guideline minimum 12 > 6 months required Cleared 3 1 D A D A D A D A D A No  
BC2019-007876   b78ff6c0-b1f1-e911-94d7-f4e9d4a75ba2 724 Credit   Missing Documentation The loan file is missing evidence of the Guarantor's track record to qualify for the Experienced Customers loan product utilizing public records. Please provide supporting documentation reflecting the borrower/ guarantor’s experience with (2) or more investment properties. Additional findings may apply. Please see borrower's REO Schedule and kindly advise if this is sufficient 12/5/19 - Finding remains. Spreadsheet and 3rd party Data Tree are not sufficient. Guidelines indicate that at least 1 property must have 12 months of documented rental income. Rental income for one of the REO's was not provided. No Mortgage Lates No lates Reserves are higher than guideline minimum 12 > 6 months required Active 3 3 D D D D D D D D D D No