Exception Grades

Run Date - 2/3/2026 12:56:03 PM

SitusAMC   Customer   Seller     Investor   Unique   Loan       Exception  Exception  Exception  Exception      Exception      15E Category   Exception                                     Exception Detail                                     Exception Information                                     Compensating Factors                                     Compensating  Applying Party       Follow-               Cleared    Cured  Waived     Exception  Kroll      Kroll      S&P        S&P Final  Note  Property  Occupancy  Purpose       Exception   Originator  TPR QM Is
Loan ID    Loan ID    Loan ID    Loan       Loan ID  Exception  ID         Date       Type       Category       Subcategory                                                                                                                                                                                                                                         Factor                             up Comments           Date       Date   Date       Level      Initial    Final      Initial    Exception  Date  State                              Remediation QM ATR      ATR    Curable
                                 Number              ID                                                                                                                                                                                                                                                                                                             Information                                                                           Grade      Exception  Exception  Exception  Rating                                                          Status      Status
                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Rating     Rating     Rating

[redacted] [redacted] [redacted] [redacted] 71339934 31029138                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/02/2024 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76829318 31275203                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      08/05/2024 2          B          B          B          B                MD        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76829318 31275209                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  The file contained proof of receipt of the appraisal                                                                                                  Reviewer Comment      08/13/2024                   1          C          A          C          A                MD        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 prior to the report date of the appraisal in file.                                                                                                    (2024-08-13): XXXXX
                                                                                                                                                                                                                                                 Provide a copy of the preliminary appraisal provided
                                                                                                                                                                                                                                                 prior to the report date of the final appraisal to
                                                                                                                                                                                                                                                 determine if there were any changes in the value.                                                                                                     Seller Comment (2024-
                                                                                                                                                                                                                                                                                                                                                                                                       08-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 79606287 31863292                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2024 2          B          B          B          B                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79606287 31863293                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2024 2          B          B          B          B                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79606287 31912868                         Credit     Missing        General        Missing        Missing Document: Account Statements -                                                             Borrower is foreign national and per guides, the four                                                                                                 Reviewer Comment      01/09/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       Personal not provided                                                                              most recent months bank statements are required.  Only                                                                                                (2025-01-09): XXXXX
                                                                                                                                                                                                                                                 two were provided.

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-01-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 79606287 31912923                         Credit     Credit         Credit         Credit         Missing Document: Alternative Credit                                                               The borrower has no provided a traditional credit report  Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        02/04/2025 2          C          B          C          B                TX        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 Documentation not provided                                                                         due to being a foreign national.  The following is        exceed the amount required based on the guidelines by at                                    (2025-02-04): XXXXX
                                                                                                                Analysis                                                                                                                         required and was not provided: If no foreign credit       least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 report is available, all of the following is required: 2
                                                                                                                                                                                                                                                 credit reference letters written or translated in         Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment
                                                                                                                                                                                                                                                 English, (can include non-traditional credit sources,     this purchase transaction of at least 5% and $5,000.00.                                     (2025-01-09): XXXXX
                                                                                                                                                                                                                                                 i.e., utility company). Letter should reference time as a                                                                        SitusAMC
                                                                                                                                                                                                                                                 customer and is good standing; and One (1) bank reference The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                 letter written or translated in English: Letter should    than the guideline maximum by at least 10%.                                                 Reviewer Comment
                                                                                                                                                                                                                                                 reference time as a customer, type/number of accounts,                                                                                                (2024-11-25): XXXXX
                                                                                                                                                                                                                                                 and is good standing.                                     The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
[redacted] [redacted] [redacted] [redacted] 74867069 31827662                         Credit     Loan Package   Closing /      Loan Package   Missing Document: Rider - 1-4 Family not                                                           The files is missing a copy of Rider 1-4 family.                                                                                                      Reviewer Comment      10/11/2024                   1          C          A          C          A                LA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Title          Documentation  provided                                                                                                                                                                                                                                                 (2024-10-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2024-
                                                                                                                                                                                                                                                                                                                                                                                                       10-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 73732532 32696113                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      01/27/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73732532 32696137                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      01/31/2025                   1          D          A          D          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-01-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79285547 32643420                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification of appraisal was delivered to borrower was                                                                                                                                       01/17/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  not provided                                                                                                                                                                                                                                                                               Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business                                                                                                                                                                                                                                                                                               Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 79285547 32643425                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The file was missing a copy of the final title policy.    Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        01/17/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.                                                                        document.                                                Policy will                        (2026-02-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                    be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                                                                                                                                    as a trailing
                                                                                                                                                                                                                                                                                                                                                                    document
[redacted] [redacted] [redacted] [redacted] 78956583 33468134                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          Copy of Operating Agreement is missing.                                                                                                               Reviewer Comment      06/03/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-06-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-05-20): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       05-20): XXXXX
[redacted] [redacted] [redacted] [redacted] 75929660 33531806                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: The most recent                                                               The property is located in FEMA Disaster area.  Provide a                                                                                             Reviewer Comment      06/24/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  valuation inspection is dated prior to the                                                         post-disaster inspection verifying there was no damage.                                                                                               (2025-06-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              most recent FEMA disaster.                                                                         The inspection must include exterior photos and the                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 property must be re-inspected on or after XX/XX/XX
                                                                                                                                                                                                                                                 declared end date.  Most recent inspection provided is                                                                                                Seller Comment (2025-
                                                                                                                                                                                                                                                 dated XX/XX/XX.                                                                                                                                       06-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 79369293 32886940                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      02/21/2025 2          B          B          B          B                MA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79254428 32742976                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      02/03/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79254428 32743294                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            02/03/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 77083001 33118245                         Credit     Loan Package   Application /  Insurance      Missing Document: Flood Certificate not                                                            The file is missing copy of flood certificate                                                                                                         Reviewer Comment      04/01/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing                    provided                                                                                                                                                                                                                                                 (2025-04-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       04-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 71778617 34185032                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 71778617 34185813                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/15/2025 2          B          B          B          B                OH        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 76797364 34185189                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 75682495 33100857                         Credit     Loan Package   Loan File      Missing        Missing Document: Hazard Insurance Policy not                                                      As per 1003 the supplemental property insurance is                                                                                                    Reviewer Comment      02/20/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation                 Document       provided                                                                                           provided., however in final CD the supplemental insurance                                                                                             (2025-02-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount not provided. Hazard Insurance document is                                                                                                                                                                                                                                          Other
                                                                                                                                                                                                                                                 provided however premium does not match with Final 1003 &
                                                                                                                                                                                                                                                 final CD.                                                                                                                                             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       02-20): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-02-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       02-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-02-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       02-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 75682495 33100859                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    Project approval document is missing in file.                                                                                                         Reviewer Comment      01/27/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                                                                                                                                                                                    (2025-01-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              warrantable.                                                                                                                                                                                                                                                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       01-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 75682495 33100860                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Right To Receive Appraisal document is missing in file                                                                                                Reviewer Comment      02/11/2025                   1          B          A          B          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  within 3 days of initial application date.                                                                                                            (2025-02-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            disclosure to consumer.                                                                                                                                                                                                                                                                                                                         Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       02-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 74005303 33538599                         Property   Property -     Property       Property -     Valuation Issue: Subject use is illegal for   -                                                    Subject zoning is illegal per appraisal.                                                                                                              Reviewer Comment      07/30/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Eligibility -  Appraisal      zoning.                                                                                                                                                                                                                                                  (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                Zoning and                                                                                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                Usage
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-06-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 74005303 34043680                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/28/2025                   1                     A                     A                UT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77056720 33995007                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/24/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75453692 33995008                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/24/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77433869 33958428                         Credit     Property -     Appraisal      Property -     Missing Document: Appraisal not provided                                                           Appraisal is missing from file.                                                                                                                       Reviewer Comment      07/23/2025                   1          D          A          D          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal                                                                                                                                                                                                                                                               (2025-07-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 77433869 33958478                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Appraisal is                                                            The file was missing a copy of the Appraisal Report.                                                                                                  Reviewer Comment      07/23/2025                   1          D          A          D          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      missing. Sec ID: 1                                                                                                                                                                                                                                       (2025-07-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 77433869 33958510                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: Property is located in a                                                      The property is located in FEMA Disaster area. Provide a                                                                                              Reviewer Comment      07/25/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  FEMA Disaster area and has not been                                                                post-disaster inspection verifying there was no damage.                                                                                               (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              inspected.                                                                                         The inspection must include exterior photos and the                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 property must be re-inspected on or after XX/XX/XX
                                                                                                                                                                                                                                                 declared end date.
[redacted] [redacted] [redacted] [redacted] 77433869 34042879                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/31/2025                   1                     A                     A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77187999 34051003                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73951960 33818837                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      07/10/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-07-10): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 impact the business or meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 73951960 33818852                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: The most recent                                                               The property is located in FEMA Disaster area. Provide a                                                                                              Reviewer Comment      07/10/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  valuation inspection is dated prior to the                                                         post-disaster inspection verifying there was no damage.                                                                                               (2025-07-10): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              most recent FEMA disaster.                                                                         The inspection must include exterior photos and the
                                                                                                                                                                                                                                                 property must be re-inspected on or after XX/XX/XX
                                                                                                                                                                                                                                                 declared end date.                                                                                                                                    Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 73951960 33819314                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Excluded asset account provided due to missing Evidence                                                                                               Reviewer Comment      07/10/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          of Access to Funds,                                                                                                                                   (2025-07-10): XXXXX                                                                                                                  Rate/Term
                                                                                                                Analysis

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 73951960 33819317                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Excluded asset account provided due to missing Evidence                                                                                               Reviewer Comment      07/10/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       of Access to Funds,                                                                                                                                   (2025-07-10): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 76716360 34116339                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76716360 34120323                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor                                                                                                                                                                                                  08/06/2025 2          B          B          B          B                AR        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal                                                                                                                                                                                                                                                                                             Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business                                                                                                                                                                                                                                                                                               Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 73434681 34402148                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/15/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76973399 33633964                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: The most recent                                                               The property is located in FEMA Disaster area. Provide a                                                                                              Reviewer Comment      06/26/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  valuation inspection is dated prior to the                                                         post-disaster inspection verifying there was no damage.                                                                                               (2025-06-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              most recent FEMA disaster.                                                                         The inspection must include exterior photos and the                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 property must be re-inspected on or after XX/XX/XX
                                                                                                                                                                                                                                                 declared end date.                                                                                                                                    Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 70042263 33481358                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      05/21/2025 2          B          B          B          B                GA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70042263 33481411                         Credit     Credit         Credit         Missing        Missing Document: Credit Report not provided                                                       The file was missing a copy of the Credit Report.                                                                                                     Reviewer Comment      07/17/2025                   1          D          A          D          A                GA        Investment Purchase                              N/A    No
                                                                                                                Documentation  Document                                                                                                                                                                                                                                                                (2025-07-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-05-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       05-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 70042263 33481903                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       file is missing the evidence of access to funds from a                                                                                                Reviewer Comment      07/28/2025                   1          C          A          C          A                GA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       XXX.                                                                                                                                                  (2025-07-28): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 70042263 33481982                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $98,851.94                                                                                               Reviewer Comment      07/28/2025                   1          C          A          C          A                GA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          is less than Cash From Borrower $177,266.09 due to                                                                                                    (2025-07-28): XXXXX
                                                                                                                Analysis                                                                                                                         missing evidence of access to funds

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 71872306 33572807                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      06/06/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71872306 33572808                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide a copy of each valuation to                                                                                                                                          06/06/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          applicant three (3) business days prior to consummation.                                                                                                                                                                                                                                   Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71872306 34043691                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1                     A                     A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76821469 33707614                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      06/23/2025 2          B          B          B          B                IN        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76821469 33707640                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Rate lock document is missing from file.                                                                                                              Reviewer Comment      06/24/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-06-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72731500 33655206                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of rate lock document.                                                                                                    Reviewer Comment      08/27/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-08-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 72731500 33655209                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $73,500.00. Provide                                                                                                   Reviewer Comment      09/19/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage $XXXXX OR                                                                                                  (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 supporting current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-20): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 72731500 34043693                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/28/2025                   1                     A                     A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77748761 33787465                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      06/30/2025 2          B          B          B          B                UT        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77748761 33787528                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of initial rate lock                                                                                                      Reviewer Comment      09/26/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 77748761 34043694                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1                     A                     A                UT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74937159 33823285                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/08/2025                   1          D          A          D          A                GA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-08): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 74937159 33823287                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the document require to                                                                                                Reviewer Comment      07/10/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           Confirm Initial Rate Lock Date.                                                                                                                       (2025-07-10): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 74937159 33866844                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        07/08/2025 2                     B                     B                GA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-07-08): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                 as secondary valuation.                                   minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 73400335 33716512                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      06/24/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 71694351 33806712                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $49,179.20 Provide                                                                                                    Reviewer Comment      08/13/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-08-13): XXXXX
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate
                                                                                                                                                                                                                                                 supporting current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 71694351 33807190                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $0.00 is                                                                                                 Reviewer Comment      07/11/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          less than Cash From Borrower $123,507.40.                                                                                                             (2025-07-11): XXXXX
                                                                                                                Analysis
[redacted] [redacted] [redacted] [redacted] 71694351 33807199                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      07/11/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-07-11): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 71694351 33819337                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        07/11/2025 2          C          B          C          B                PA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    exceed the amount required based on the guidelines by at                                    (2025-07-11): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow  least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Reviewer Comment
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                                                 (2025-07-09): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 71694351 33819338                         Credit     Guideline      Guideline      Guideline      Funds From Business Account used, and                                                              Lender used business funds for EMD and reserves, however  Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        07/11/2025 2          C          B          C          B                PA        Investment Purchase                              N/A    No
                                                                                                                Issue                         borrower owns less than 100% of business.                                                          per guidelines borrower must be sole owner of the company exceed the amount required based on the guidelines by at                                    (2025-07-11): XXXXX
                                                                                                                                                                                                                                                 in order to use business funds for downpayment or         least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 reserves. Per operating agreement file borrower only owns
                                                                                                                                                                                                                                                 50% of the business.                                      The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 75159434 33872660                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/11/2025 2          B          B          B          B                OH        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 73380275 33695660                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        07/11/2025 2          C          B          C          B                MS        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    exceed the amount required based on the guidelines by at                                    (2025-07-11): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow  least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline                                         Seller Comment (2025-
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.                                                              07-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-06-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 73380275 33695668                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $0.00 is                                                                                                 Reviewer Comment      07/11/2025                   1          C          A          C          A                MS        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          less than Cash From Borrower $19,033.55. Missing letter                                                                                               (2025-07-11): XXXXX
                                                                                                                Analysis                                                                                                                         from company's XXX providing a statement indicating
                                                                                                                                                                                                                                                 withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-06-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 73380275 33695737                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      07/11/2025                   1          C          A          C          A                MS        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Missing letter                                                                                               (2025-07-11): XXXXX
                                                                                                                Guidelines                                                                                                                       from company's XXX providing a statement indicating
                                                                                                                Discrepancy                                                                                                                      withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-06-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 72812515 33589883                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      06/10/2025 2          B          B          B          B                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74360060 33995010                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/24/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76879372 33732259                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        06/26/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 76879372 33732270                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      06/26/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76879372 33781408                         Credit     Property -     Property       Property -     XXXXX Water Contamination: Property is                                                                                                                                                                                                                   Reviewer Comment                        07/01/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Eligibility -  Appraisal      located in XXXXX and could be subject to                                                                                                                                                                                                                 (2025-07-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                Site and                      contaminated water. Files does not contain                                                                                                                                                                                                                                                                                                                                                    Other
                                                                                                                Utilities                     evidence that water supply is serviced by a
                                                                                                                                              non-municipal water source (well water                                                                                                                                                                                                                   Seller Comment (2025-
                                                                                                                                              supply), or evidence from an independent                                                                                                                                                                                                                 06-30): XXXXX
                                                                                                                                              water quality analysis that confirms that
                                                                                                                                              water is free of all known environmental and
                                                                                                                                              safety hazards
[redacted] [redacted] [redacted] [redacted] 73815198 33662134                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: The subject property is                                                       The subject property is located in a FEMA disaster area                                                                                               Reviewer Comment      06/26/2025                   1          C          A          C          A                KY        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  located in a FEMA disaster that does not have                                                      that does not have a declared end date. Provide a post-                                                                                               (2025-06-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              a declared end date.                                                                               disaster inspection verifying there was no damage.                                                                                                                                                                                                                                         Other
                                                                                                                                                                                                                                                 Most recent inspection provided is dated XX/XX/XX.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 76515173 34007731                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/25/2025 2          B          B          B          B                VA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76515173 34050975                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/28/2025                   1          C          A          C          A                VA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78597319 33896614                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/14/2025 2          B          B          B          B                MI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 75403275 34047999                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71802227 34050987                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/28/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71275937 33707806                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      06/23/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77554323 34058036                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/05/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77554323 34062104                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/07/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 78265805 34043315                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/28/2025                   1                     A                     A                IN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77781790 33992176                         Credit     Loan Package   Closing /      Missing        Missing Document: Rider - Other not provided                                                       The file is missing a copy of fixed percentage rider.                                                                                                 Reviewer Comment      07/28/2025                   1          C          A          C          A                MT        Investment Purchase                              N/A    No
                                                                                                 Documentation  Title          Document                                                                                                                                                                                                                                                                (2025-07-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 71691339 33906334                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/14/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72798903 33637221                         Credit     Loan Package   Loan File      Missing        Missing Document: Hazard Insurance Policy not                                                      The file was missing a copy of the Hazard Insurance                                                                                                   Reviewer Comment      06/17/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Documentation                 Document       provided                                                                                           Policy document.                                                                                                                                      (2025-06-17): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 72798903 33637388                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the OFAC document.                                                                                                     Reviewer Comment      06/17/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-06-17): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 72798903 33637402                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock                                                                                                  Reviewer Comment      06/17/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-06-17): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 72798903 33637490                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated Available for Reserves of 2 is less than       The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        06/24/2025 2          C          B          C          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              Guideline Available for Reserves of 6.                    minimum by at least 40 points.                                                              (2025-06-24): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 72798903 33649976                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Loan to value          Calculated loan to value percentage of ___ exceeds   Calculated loan to value percentage of XXX% exceeds       The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        06/24/2025 2          C          B          C          B                FL        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Program        Mortgage       discrepancy.                                  Guideline loan to value percentage of ___.           Guideline loan to value percentage of 70.00000%. Due to   minimum by at least 40 points.                                                              (2025-06-24): XXXXX                                                                                                                  Rate/Term
                                                                                                 Eligibility    Eligibility    Eligibility                                                                                                       DSCR < 1.0 based on the estimated monthly rent per the
                                                                                                                                                                                                                                                 comparable rent schedule provided.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 72798903 33649977                         Credit     Credit         AUS            Guideline      Guideline Requirement: Combined loan to value Calculated combined loan to value percentage of ___  Calculated combined loan to value percentage of XXX%      The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        06/24/2025 2          C          B          C          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  exceeds Guideline combined loan to value percentage  exceeds Guideline combined loan to value percentage of    minimum by at least 40 points.                                                              (2025-06-24): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                  of ___.                                              70.00000%. Due to DSCR < 1.0 based on the estimated
                                                                                                                Discrepancy                                                                                                                      monthly rent per the comparable rent schedule provided.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 79251436 33634596                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: The most recent                                                               The property is located in FEMA Disaster area.  Provide a                                                                                             Reviewer Comment      06/24/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  valuation inspection is dated prior to the                                                         post-disaster inspection verifying there was no damage.                                                                                               (2025-06-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              most recent FEMA disaster.                                                                         The inspection must include exterior photos and the                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 property must be re-inspected on or after XX/XX/XX
                                                                                                                                                                                                                                                 declared end date. Most recent inspection provided is                                                                                                 Seller Comment (2025-
                                                                                                                                                                                                                                                 dated XX/XX/XX.                                                                                                                                       06-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 79251436 33634598                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      06/16/2025 2          B          B          B          B                MO        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 72620593 33781452                         Credit     Guideline      Guideline      Guideline      Ineligible borrower per guidelines.                                                                Borrowers who have lived in a rent-free situation are                                                                                                 Reviewer Comment      07/02/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                                Issue                                                                                                                            ineligible. Per LOE in file borrower is living rent free.                                                                                             (2025-07-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-01): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 79616843 33604813                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        06/11/2025 2          B          B          B          B                PA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 78518239 34003132                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      08/05/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Missing letter                                                                                               (2025-08-05): XXXXX
                                                                                                                Guidelines                                                                                                                       from company's XXX providing a statement indicating
                                                                                                                Discrepancy                                                                                                                      withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.                                                                                               Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 78518239 34003245                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        08/05/2025 2          C          B          C          B                TX        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                                                              (2025-08-05): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 78518239 34003606                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Debt Service Coverage  Calculated Debt Service Coverage Ratio (Subject      Calculated Debt Service Coverage Ratio (Subject DSCR) of  The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        08/05/2025 2          C          B          C          B                TX        Investment Purchase                              N/A    No
                                                                                                 Mortgage       Program        Mortgage       Ratio (Subject DSCR) discrepancy.             DSCR) of ___ does not meet Guideline Debt Service    0.99 does not meet Guideline Debt Service Coverage Ratio  minimum by at least 40 points.                                                              (2025-08-05): XXXXX
                                                                                                 Eligibility    Eligibility    Eligibility                                                  Coverage Ratio (Subject DSCR) ___.                   (Subject DSCR) 1.00.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-01): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-01): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 78518239 34003623                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $0 are                                                                                                        Reviewer Comment      08/05/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $52,188.23. Missing                                                                                             (2025-08-05): XXXXX
                                                                                                                Analysis                                                                                                                         letter from company's XXX providing a statement
                                                                                                                                                                                                                                                 indicating withdrawal of the funds will not negatively
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow                                                                                              Buyer Comment (2025-
                                                                                                                                                                                                                                                 analysis.                                                                                                                                             08-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 72362500 33876966                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/18/2025                   1          D          A          D          A                WA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 71809027 33640056                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        06/16/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 71217662 33733211                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/11/2025                   1          D          A          D          A                GA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 77342840 33530685                         Credit     Credit         Credit         Credit         A credit report was not pulled for all                                                             Provide updated mortgage histories for the following      Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        04/09/2025 2          C          B          C          B                PA        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 members of the borrowing entity as required                                                        mortgage loan reflecting on credit report. XXXXX. Payment exceed the amount required based on the guidelines by at                                    (2025-04-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              by guidelines.                                                                                     history must reflect 0 X 30 in the most recent 12 months  least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 including the month prior to closing.
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                                                 04-09): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.                                                          Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-03-28): XXXXX
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       03-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 77342840 33530687                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Provide updated mortgage histories for the following      Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        04/09/2025 2          C          B          C          B                PA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 mortgage loan reflecting on credit report. XXXXX. Payment exceed the amount required based on the guidelines by at                                    (2025-04-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 history must reflect 0 X 30 in the most recent 12 months  least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 including the month prior to closing.
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                                                 04-09): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.                                                          Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-03-28): XXXXX
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       03-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 76114664 33847115                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $124,940. Provide updated                                                                                             Reviewer Comment      07/23/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   policy reflecting minimum coverage of $XXXXX OR provide                                                                                               (2025-07-23): XXXXX
                                                                                                                                                                                                                                                 copy of insurer's replacement cost estimate supporting
                                                                                                                                                                                                                                                 current coverage amount.
[redacted] [redacted] [redacted] [redacted] 71772857 34071954                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated Available for Reserves of 0.00 is less than                                                                                                Reviewer Comment      08/06/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline Available for Reserves of 6.                                                                                                                (2025-08-06): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 71772857 34073342                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified Assets for Closing of  $24,499.20 is less than                                                                                               Reviewer Comment      08/06/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          Cash From Borrower $25,039.15.                                                                                                                        (2025-08-06): XXXXX
                                                                                                                Analysis

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 78578997 33902384                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/01/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-31): XXXXX
[redacted] [redacted] [redacted] [redacted] 78578997 34043350                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/28/2025                   1                     A                     A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76358829 33877642                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      07/22/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Missing letter                                                                                               (2025-07-22): XXXXX
                                                                                                                Guidelines                                                                                                                       from company's XXX providing a statement indicating
                                                                                                                Discrepancy                                                                                                                      withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.
[redacted] [redacted] [redacted] [redacted] 76358829 33877656                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $42,775.73                                                                                               Reviewer Comment      07/22/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          is less than Cash From Borrower $81,947.51. Missing                                                                                                   (2025-07-22): XXXXX
                                                                                                                Analysis                                                                                                                         letter from company's XXX providing a statement
                                                                                                                                                                                                                                                 indicating withdrawal of the funds will not negatively
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
[redacted] [redacted] [redacted] [redacted] 76358829 33904757                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        07/22/2025 2          C          B          C          B                NJ        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    this purchase transaction of at least 5% and $5,000.00.                                     (2025-07-22): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow                                                                         SitusAMC
                                                                                                                                                                                                                                                 analysis.                                                 The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.                                                              Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 75923532 33786430                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      06/30/2025 2          B          B          B          B                GA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 78923577 33828377                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification updated appraisal was delivered to borrower                                                                                                                                      07/07/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   was not provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 78923577 33828394                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Rate lock document is missing from file.                                                                                                              Reviewer Comment      07/10/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 71816893 33729534                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      06/26/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71816893 33729570                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/01/2025                   1          D          A          D          A                FL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 71816893 33729586                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File does not have rate lock document in file.                                                                                                        Reviewer Comment      06/30/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-06-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 71816893 33730651                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            06/26/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 71816893 33818570                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        07/01/2025 2                     B                     B                FL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-07-01): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 74107320 33974729                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/22/2025 2          B          B          B          B                GA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 74107320 33974731                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/25/2025                   1          D          A          D          A                GA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74107320 33974750                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate Lock rate date is not documented in file.                                                                                                Reviewer Comment      07/28/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 74107320 34008635                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/25/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 74107320 34047169                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        07/25/2025 2                     B                     B                GA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                                                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 73403593 33830740                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/08/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 76133764 34108428                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/05/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70887871 33756810                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      06/27/2025 2          B          B          B          B                MO        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78915084 34170008                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/12/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 73249452 33724213                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      06/25/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73249452 33724685                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      06/26/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Missing evidence                                                                                             (2025-06-26): XXXXX
                                                                                                                Guidelines                                                                                                                       the Borrower is the sole owner of the company and missing
                                                                                                                Discrepancy                                                                                                                      letter from company's XXX providing a statement
                                                                                                                                                                                                                                                 indicating withdrawal of the funds will not negatively
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
[redacted] [redacted] [redacted] [redacted] 73249452 33724837                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing evidence the Borrower is the sole owner of the    Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        06/26/2025 2          C          B          C          B                FL        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       company and missing letter from company's XXX providing a this purchase transaction of at least 5% and $5,000.00.                                     (2025-06-26): XXXXX
                                                                                                                                                                                                                                                 statement indicating withdrawal of the funds will not                                                                            SitusAMC
                                                                                                                                                                                                                                                 negatively impact the business OR meet XXXXX guidance for The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                 cash flow analysis.                                       minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 73249452 33724852                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $20,886.18                                                                                               Reviewer Comment      06/26/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          is less than Cash From Borrower $47,172.99. Missing                                                                                                   (2025-06-26): XXXXX
                                                                                                                Analysis                                                                                                                         evidence the Borrower is the sole owner of the company
                                                                                                                                                                                                                                                 and missing letter from company's XXX providing a
                                                                                                                                                                                                                                                 statement indicating withdrawal of the funds will not
                                                                                                                                                                                                                                                 negatively impact the business OR meet XXXXX guidance for
                                                                                                                                                                                                                                                 cash flow analysis.
[redacted] [redacted] [redacted] [redacted] 71158546 34040898                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/29/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75923406 33723199                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        06/25/2025 2          B          B          B          B                OH        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 the final title policy or an addendum to the preliminary                                                           be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                                                                                                                                 amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 76078660 33721413                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        06/25/2025 2          B          B          B          B                OH        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 77209719 33863379                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/10/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 77400036 33972576                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/22/2025 2          B          B          B          B                MO        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77400036 34008637                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/24/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 79404724 34141366                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74352919 34007900                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/25/2025 2          B          B          B          B                MO        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 72358495 34015346                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/13/2025                   1          D          A          D          A                MD        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 72358495 34048277                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78909451 33815368                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/03/2025 2          B          B          B          B                IL        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 72139539 33903033                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      07/22/2025                   1          C          A          C          A                IL        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          indicating withdrawal of the funds will not negatively                                                                                                (2025-07-22): XXXXX
                                                                                                                Analysis                                                                                                                         impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis. Guidelines also require that the borrower is
                                                                                                                                                                                                                                                 the sole owner. Per the LOE in file, the borrower has a                                                                                               Reviewer Comment
                                                                                                                                                                                                                                                 business partner.                                                                                                                                     (2025-07-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 72139539 33903039                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      07/22/2025                   1          C          A          C          A                IL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       indicating withdrawal of the funds will                                                                                                               (2025-07-22): XXXXX
                                                                                                                Guidelines                                                                                                                       not negatively impact the business OR meet XXXXX guidance
                                                                                                                Discrepancy                                                                                                                      for cash flow analysis. Guidelines also require that the
                                                                                                                                                                                                                                                 borrower is the sole owner. Per the LOE in file, the                                                                                                  Reviewer Comment
                                                                                                                                                                                                                                                 borrower has a business partner.                                                                                                                      (2025-07-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 72139539 34011397                         Credit     Guideline      Guideline      Guideline      Funds From Business Account used, and                                                              Lender used business funds for EMD and reserves, however  The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        07/22/2025 2                     B                     B                IL        Investment Purchase                              N/A    No
                                                                                                                Issue                         borrower owns less than 100% of business.                                                          per guidelines borrower must be sole owner of the company minimum by at least 40 points.                                                              (2025-07-22): XXXXX
                                                                                                                                                                                                                                                 to use business funds for downpayment or reserves. Per
                                                                                                                                                                                                                                                 letter in file borrower only owns 49% of the business.
                                                                                                                                                                                                                                                 Lender used balance sheet in lieu of XXX letter or cash
                                                                                                                                                                                                                                                 flow analysis. Lender exception provided in file.
[redacted] [redacted] [redacted] [redacted] 71198853 33764884                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated PITIA months reserves of 0.00 is less than     Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        08/15/2025 2          C          B          C          B                AL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              Guideline PITIA months reserves of 6.00. Business funds   this purchase transaction of at least 5% and $5,000.00.                                     (2025-08-15): XXXXX
                                                                                                                Guidelines                                                                                                                       were not qualified with statement that withdrawal of                                                                             SitusAMC
                                                                                                                Discrepancy                                                                                                                      funds won't negatively impact the business or with a cash The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                 flow analysis.  Further, the statement for account ending than the guideline maximum by at least 10%.                            SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                 in XXXXX reflects two large unsourced deposits ($50,000                                                                                               08-13): XXXXX
                                                                                                                                                                                                                                                 and $40826.20) that were not included available assets.   The Loan to Value (LTV) on the loan is less than the                   SitusAMC
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline                                         (2025-08-07): XXXXX
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-01): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-01): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 71198853 33764889                         Credit     Missing        General        Missing        Missing Document: Source of Funds/Deposit not                                                      Gift funds were not qualified with source of funds and                                                                                                Reviewer Comment      08/13/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       provided                                                                                           proof of deposit.  It should also be noted that per DSCR                                                                                              (2025-08-13): XXXXX
                                                                                                                                                                                                                                                 guides, due to the loan LTV being XX%, only 5% of the
                                                                                                                                                                                                                                                 loan amount is allowed to be used from the gifted funds.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 71198853 33764890                         Credit     Missing        General        Missing        Missing Document: Source of Funds/Deposit not                                                      Gift funds were not qualified with source of funds and                                                                                                Reviewer Comment      08/13/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       provided                                                                                           proof of deposit.  It should also be noted that per DSCR                                                                                              (2025-08-13): XXXXX
                                                                                                                                                                                                                                                 guides, due to the loan LTV being XX%, only 5% of the
                                                                                                                                                                                                                                                 loan amount is allowed to be used from the gifted funds.
[redacted] [redacted] [redacted] [redacted] 71198853 33764893                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $112,864.41 are                                                                                               Reviewer Comment      08/13/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $141,798.92.                                                                                                    (2025-08-13): XXXXX
                                                                                                                Analysis                                                                                                                         Business funds were not qualified with statement that
                                                                                                                                                                                                                                                 withdrawal of funds won't negatively impact the business
                                                                                                                                                                                                                                                 or with a cash flow analysis.   Further, the statement                                                                                                Reviewer Comment
                                                                                                                                                                                                                                                 for account ending in XXXXX reflects two large unsourced                                                                                              (2025-07-08): XXXXX
                                                                                                                                                                                                                                                 deposits ($50,000 and $40826.20) that were not included
                                                                                                                                                                                                                                                 available assets.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 71198853 33764928                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification receipt of appraisal was made no less than 3                                                                                                                                     06/27/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          business days prior to consummation was not in file.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70129205 33808042                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/02/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70129205 33808067                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/02/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                            final title policy or an addendum to the preliminary                                                               be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 70129205 33808101                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than The file is missing XXXXX statement XXXXX copy for        Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        08/05/2025 2          C          B          C          B                CA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              reserves.                                                 this purchase transaction of at least 5% and $5,000.00.                                     (2025-08-05): XXXXX
                                                                                                                Guidelines                                                                                                                                                                                                                                                        SitusAMC
                                                                                                                Discrepancy                                                                                                                                                                                The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                            SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-04): XXXXX
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 77541492 34017487                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/25/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 77541492 34021226                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $4,486.49 is                                                                                             Reviewer Comment      08/01/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          less than Cash From Borrower $34,506.18. Missing letter                                                                                               (2025-08-01): XXXXX
                                                                                                                Analysis                                                                                                                         from company's XXX providing a statement indicating
                                                                                                                                                                                                                                                 withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 77541492 34021228                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      08/01/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Missing letter                                                                                               (2025-08-01): XXXXX
                                                                                                                Guidelines                                                                                                                       from company's XXX providing a statement indicating
                                                                                                                Discrepancy                                                                                                                      withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.
[redacted] [redacted] [redacted] [redacted] 77541492 34021231                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      08/01/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will                                                                                                               (2025-08-01): XXXXX
                                                                                                                                                                                                                                                 not negatively impact the business OR meet XXXXX guidance
                                                                                                                                                                                                                                                 for cash flow analysis.
[redacted] [redacted] [redacted] [redacted] 70762824 33921350                         Property   Property -     Appraisal      Property -     Missing Document: Appraisal was made "subject -                                                    Appraisal was made subject to and 442 is not in images.                                                                                               Reviewer Comment      07/21/2025                   1          C          A          C          A                GA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      to" and Form 1004D/442 was not provided.                                                                                                                                                                                                                 (2025-07-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 71223833 34021425                         Compliance Compliance     State          State Defect   XXXXX Prepayment Penalty                      XXXXX Prepayment Penalty: Maximum calculated prepay  Maximum calculated prepay of $2,744.80 exceeds the state                                                                                              Reviewer Comment                        07/30/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                                                                  of $2,744.80 exceeds the state maximum of 1% of the  maximum of 1% of the original balance ($1,168.00).                                                                                                    (2025-07-30): XXXXX
                                                                                                                                                                                            original balance ($1,168.00).  Prepay language       Prepay language states prepay will not exceed maximum
                                                                                                                                                                                            states prepay will not exceed maximum permitted by   permitted by applicable law.
                                                                                                                                                                                            applicable law.                                                                                                                                                                                            Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 77316682 33988938                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Lender used business funds for reserves, however per                                                                                                  Reviewer Comment      07/29/2025                   1          C          A          C          A                CO        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       guidelines the borrower must be the sole owner of the                                                                                                 (2025-07-29): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                                                                       company in order to use business funds. Supporting
                                                                                                                Discrepancy                                                                                                                      documentation was not provided from XXX not provided.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 77316682 33988945                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                    Reviewer Comment      07/29/2025                   1          B          A          B          A                CO        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to consumer.                                                                                                                     (2025-07-29): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            disclosure to consumer.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 77316682 33988963                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing secondary valuation.                                                                                               Reviewer Comment      07/29/2025                   1          D          A          D          A                CO        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    The provided CU and/or LCA provide relief.                                                                                                            (2025-07-29): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 77316682 33988982                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File does not have Rate Lock document in flle.                                                                                                        Reviewer Comment      07/25/2025                   1          C          A          C          A                CO        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-25): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 77316682 33989754                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      XXX/XXX letter verifying use of business funds will not   The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Reviewer Comment                        07/29/2025 2          C          B          C          B                CO        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       not provided                                                                                       negatively impact the business or XXXXX Cash Flow         than the guideline maximum by at least 10%.                                                 (2025-07-29): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 analysis is required.                                                                                                            SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.                                     SitusAMC             Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-29): XXXXX
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 77316682 34008638                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/25/2025                   1          C          A          C          A                CO        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-25): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 77316682 34088022                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Reviewer Comment                        07/29/2025 2                     B                     B                CO        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  than the guideline maximum by at least 10%.                                                 (2025-07-29): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  guideline maximum by at least 10%.                                     SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 77316682 34088487                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor                                                                                                                                                                                                  07/29/2025 2                     B                     B                CO        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal                                                                                                                                                                                                                                                                                             Rate/Term
                                                                                                                                                                                            disclosure to applicant within three (3) business
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 79380180 33816404                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the document require to                                                                                                Reviewer Comment      07/09/2025                   1          C          A          C          A                NV        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           Confirm Initial Rate Lock Date.                                                                                                                       (2025-07-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 79380180 33816413                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/08/2025                   1          D          A          D          A                NV        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79380180 33816421                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/03/2025 2          B          B          B          B                NV        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 79380180 33866835                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        07/08/2025 2                     B                     B                NV        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  years.                                                                                      (2025-07-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at               SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
[redacted] [redacted] [redacted] [redacted] 77042336 34058594                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71225967 33932159                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/17/2025 2          B          B          B          B                VA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 74175592 34034549                         Credit     Loan Package   Application /  Loan Package   Missing Document: Missing Final 1003                                                               Final 1003 is missing.                                                                                                                                Reviewer Comment      07/29/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation                                                                                                                                                                                                                                                           (2025-07-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 74175592 34047973                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/31/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74461459 33959559                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/21/2025 2          B          B          B          B                WI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 74715642 33902592                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification for appraisal was delivered to borrower was                                                                                                                                      07/14/2025 2          B          B          B          B                RI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          not provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74649015 34133855                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Verified as per source document.                                                                                                                      Reviewer Comment      08/11/2025                   1          C          A          C          A                IN        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-08-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 78097248 33956311                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/21/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 78097248 33956365                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/21/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 78097248 33992945                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/24/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 71160987 34008639                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/25/2025                   1          C          A          C          A                CT        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 74013972 34128558                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/07/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76841618 34159485                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                KS        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76841618 34161346                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/12/2025 2          B          B          B          B                KS        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73555169 33992946                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/24/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 70207977 34051022                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                ME        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74251601 34058465                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/05/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71324478 34116924                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71324478 34119491                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/06/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76700221 34048554                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77115075 34097995                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Seller has not held title for the 90-day minimum          Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        08/01/2025 2          C          B          C          B                IL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 requirement per guidelines.                               exceed the amount required based on the guidelines by at                                    (2025-08-01): XXXXX
                                                                                                                                                                                                                                                                                                           least 4 months.                                                        SitusAMC

                                                                                                                                                                                                                                                                                                           Borrowers made a down payment from their own funds on                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                           this purchase transaction of at least 5% and $5,000.00.                                     (2025-07-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 75678481 34007117                         Credit     Credit         Credit         Credit         Borrower has active Tradelines which are less                                                      Guides require each borrower have a minimum of 3          Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        07/25/2025 2          C          B          C          B                FL        Investment Purchase                              N/A    No
                                                                                                                Eligibility                   than the minimum required by guidelines.                                                           tradelines reporting for at least 24 months and at least  exceed the amount required based on the guidelines by at                                    (2025-07-25): XXXXX
                                                                                                                                                                                                                                                 one of those tradelines must be open and active for the   least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 prior 12 months.  Borrower has five tradelines however,
                                                                                                                                                                                                                                                 only two of them have been reporting for 24 months.       Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment
                                                                                                                                                                                                                                                 Lender approved exception in file.                        this purchase transaction of at least 5% and $5,000.00.                                     (2025-07-22): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
[redacted] [redacted] [redacted] [redacted] 75843040 34092386                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/06/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75843040 34092409                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/01/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 72112638 34116921                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76576304 34129600                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76576304 34130949                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/06/2025 2          B          B          B          B                NY        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74216299 34140463                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72641299 34498913                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75271135 33795626                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of initial rate lock                                                                                                      Reviewer Comment      07/10/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-07-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 78838062 33967523                         Credit     Title          Document Error Title          The Preliminary/Commitment does not reflect a                                                      The preliminary title report in file did not disclose the                                                                                             Reviewer Comment      07/31/2025                   1          C          A          C          A                HI        Investment Purchase                              N/A    No
                                                                                                                                              coverage amount (no final title policy in                                                          amount of title insurance coverage. Provide a copy of the                                                                                             (2025-07-31): XXXXX
                                                                                                                                              file). Unable to determine if appropriate                                                          final title policy or an addendum to the preliminary
                                                                                                                                              coverage is provided.                                                                              report verifying title insurance of at least the loan
                                                                                                                                                                                                                                                 amount.                                                                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 77742407 33861887                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/10/2025 2          B          B          B          B                IN        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76530284 34042685                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72578493 33822026                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/07/2025 2          B          B          B          B                MA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72578493 33822040                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/07/2025 2          B          B          B          B                MA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2025-12-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 71667080 34104619                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/07/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71667080 34105166                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/04/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 79906792 33992947                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/24/2025                   1          C          A          C          A                IA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76600896 34008645                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/28/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-28): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76600896 34036883                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                       Enhanced diligence review is being conducted on this                                                                                                  Reviewer Comment      07/28/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                      loan.                                                                                                                                                 (2025-07-28): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 77690008 33966799                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the OFAC Report.                                                                                                       Reviewer Comment      07/23/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-07-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 77690008 33995015                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/25/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 76761099 34003983                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/25/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76761099 34008647                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/28/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76761099 34036971                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                       Enhanced diligence review is being conducted on this                                                                                                  Reviewer Comment      07/28/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                      loan.                                                                                                                                                 (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73752472 33876989                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/14/2025 2          B          B          B          B                GA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business                                                                                                                                                                                                                                                                                               Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 78100738 34093232                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/07/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78100738 34097073                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      08/04/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 78100738 34097132                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/04/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            final title policy or an addendum to the preliminary                                                               be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 72427913 33822972                         Compliance Compliance     Federal        Missing        Notice of Special Flood Hazard Disclosure Not FDPA Notification Rule: Creditor did not provide a   Creditor did not provide a Notice of Special Flood Hazard                                                                                             Reviewer Comment                        07/09/2025 2          B          B          B          B                LA        Investment Purchase                              N/A    No
                                                                                                                Compliance     Disclosure     Provided Timely                               Notice of Special Flood Hazard Disclosure within a   Disclosure within a reasonable time prior to closing.                                                                                                 (2025-07-09): XXXXX
                                                                                                                                                                                            reasonable time prior to closing.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 72427913 33823003                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing secondary valuation.                                                                                               Reviewer Comment      08/06/2025                   1          D          A          D          A                LA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                                                                                                                                                                          (2025-08-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 70993622 34186851                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79378370 34042169                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79378370 34042777                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/29/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 72986627 33931600                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/17/2025 2          B          B          B          B                MO        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 72986627 33931649                         Credit     Missing        General        Missing        Missing Document: Cash-Out Utilization not                                                         Cash-Out Utilization is missing.                                                                                                                      Reviewer Comment      08/14/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       provided                                                                                                                                                                                                                                                 (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 72986627 34043351                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/28/2025                   1                     A                     A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77638544 33902847                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/14/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 73236067 34107299                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/07/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78563196 33786291                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                    Reviewer Comment      07/09/2025                   1          B          A          B          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to consumer.                                                                                                                     (2025-07-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            disclosure to consumer.                                                                                                                                                                                                                                                                                                                         Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 78563196 33786349                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File does not have rate lock document in file.                                                                                                        Reviewer Comment      07/03/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 78563196 33786895                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                File does not have OFAC document in file.                                                                                                             Reviewer Comment      07/03/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-07-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 78563196 33877819                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor                                                                                                                                                                                                  07/09/2025 2                     B                     B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal                                                                                                                                                                                                                                                                                             Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business                                                                                                                                                                                                                                                                                               Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 71465687 33732828                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                Copy of OFAC is missing.                                                                                                                              Reviewer Comment      06/30/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-06-30): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 71465687 33733031                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated PITIA months reserves of 4.29 is less than     The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        07/11/2025 2          C          B          C          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              Guideline PITIA months reserves of 6.00.                  minimum by at least 40 points.                                                              (2025-07-11): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 71465687 33733146                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Rate lock is missing.                                                                                                                                 Reviewer Comment      07/01/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-01): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 71465687 33733152                         Credit     Legal /        Title / Lien   Title          Title Policy is Preliminary or Commitment,                                                         The file was missing a copy of the final title policy.                                                                                                Reviewer Comment      07/11/2025                   1          A          A          A          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Regulatory /   Defect                        and not a Final Title Policy.                                                                                                                                                                                                                            (2025-07-11): XXXXX                                                                                                                  Rate/Term
                                                                                                 Compliance
[redacted] [redacted] [redacted] [redacted] 71465687 33733159                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $18,000.00. Provide       The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        10/14/2025 2          C          B          C          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR   minimum by at least 40 points.                           1.07 is                            (2025-10-14): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate                                                                greater than  Aggregator
                                                                                                                                                                                                                                                 supporting current coverage amount.                       The qualifying DSCR on the loan is greater than the      the minimum
                                                                                                                                                                                                                                                                                                           guideline minimum.                                       required DSCR                      Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                    of 1.00.                           10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-01): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 71465687 33733162                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing secondary valuation.                                                                                               Reviewer Comment      07/11/2025                   1          D          A          D          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                                                                                                                                                                          (2025-07-11): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71465687 33909317                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        07/11/2025 2                     B                     B                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                                                              (2025-07-11): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 71465687 34043700                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1                     A                     A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 79068486 33974411                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            07/22/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 79068486 33974447                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the required OFAC                                                                                                      Reviewer Comment      07/23/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                    document.                                                                                                                                             (2025-07-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 79068486 33974457                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate Lock rate date is not documented in file.                                                                                                Reviewer Comment      07/23/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 79068486 33974463                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/25/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 79068486 33995017                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/25/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 79068486 34006425                         Credit     Credit         AUS            Credit         Guideline Issue:  Ineligible borrower                                                              Borrowers who have lived in a rent-free situation are     Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        07/25/2025 2          C          B          C          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                                                                                                                    ineligible. Per LOE in file borrower is living rent free. years.                                                                                      (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                                                                                                                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                Discrepancy                                                                                                                                                                                Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                                                                           exceed the amount required based on the guidelines by at               SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           least 4 months.                                                                             07-25): XXXXX

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.                                                              Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 79068486 34046992                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        07/25/2025 2                     B                     B                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  years.                                                                                      (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at               SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 76394290 34148053                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76401205 34148712                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76292094 34148882                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76292094 34150452                         Credit     Loan Package   Application /  Insurance      Missing Document: Flood Certificate not                                                            Flood Certificate was missing in the file.                                                                                                            Reviewer Comment      08/13/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing                    provided                                                                                                                                                                                                                                                 (2025-08-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 76292094 34150558                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      08/08/2025 2          B          B          B          B                AL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 77297827 33943699                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/18/2025 2          B          B          B          B                RI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77297827 33943700                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/18/2025 2          B          B          B          B                RI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77297827 33943701                         Compliance Compliance     State          State Defect   XXXXX Prepayment Penalty NonPurchase Test     XXXXX Prepayment Penalty:  Non-purchase loan         XXXXX Prepayment Penalty document is missing .                                                                                                        Reviewer Comment                        07/24/2025 2          B          B          B          B                RI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                                                                  contains a prepayment penalty which was not                                                                                                                                                                (2025-07-24): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            disclosed to the borrower in writing.
[redacted] [redacted] [redacted] [redacted] 77297827 33943716                         Property   Appraisal      Value          Appraisal      Loan is to be securitized. Highest level                                                           The secondary valuation provided has a value variance > -                                                                                             Reviewer Comment      07/28/2025                   1          C          A          C          A                RI        Investment Refinance -                           N/A    No
                                                                                                 Reconciliation Discrepancy    Reconciliation secondary valuation does not support the                                                           10% and does not meet guidelines.                                                                                                                     (2025-07-28): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              value used to qualify. Sec ID: 7

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 77297827 33993040                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/24/2025                   1                     A                     A                RI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 77297827 34062963                         Property   Appraisal      Value          Appraisal      Loan is to be securitized. Highest level      Note Date:  ___; Lien Position: ___                                                                                                                                                                        Reviewer Comment                        07/29/2025 2                     A                     B                RI        Investment Refinance -                           N/A    No
                                                                                                 Reconciliation Discrepancy    Reconciliation secondary valuation supports the value. There                                                                                                                                                                                                            (2025-07-29): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              is a lower level tertiary product that does
                                                                                                                                              not support the qualifying value. Sec ID: 22
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 79905071 34128987                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74203693 34159592                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/13/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70848884 34099362                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Evidence of borrower's receipt of the appraisal three (3)                                                                                                                                     08/04/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          business days prior to consummation is missing from the
                                                                                                                                              Consummation                                  applicant three (3) business days prior to           loan file.
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74905254 34153231                         Credit     Loan Package   Application /  Loan Package   Missing Document: Verification of                                                                  Driving License is missing                                                                                                                            Reviewer Comment      08/13/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  Identification not provided                                                                                                                                                                                                                              (2025-08-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 77063192 33724824                         Credit     Loan Package   Application /  Missing        Missing Document: Other not provided                                                               OFAC was not provided for the borrowing entity.           Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        06/09/2025 2          C          B          D          B                FL        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                                                                                    exceed the amount required based on the guidelines by at                                    (2025-06-09): XXXXX
                                                                                                                                                                                                                                                                                                           least 4 months.                                                        SitusAMC

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline                                         Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.                                                              06-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 77063192 33724825                         Credit     Loan Package   Application /  Loan Package   Missing Document: Deeds / Warranty / Grant /                                                       Executed Transfer Deed was not provided.                                                                                                              Reviewer Comment      06/09/2025                   1          D          A          D          A                FL        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  Quit-Claim not provided                                                                                                                                                                                                                                  (2025-06-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 73570675 33922748                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/17/2025 2          B          B          B          B                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 72111066 33937910                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain documentation from lender/seller                                                                                                Reviewer Comment      08/04/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              confirming the condo is warrantable.                                                                                                                  (2025-08-04): XXXXX
                                                                                                                                              warrantable.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 77593719 33956133                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/22/2025 2          B          B          B          B                GA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 73433043 33832819                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing copy of rate lock document.                                                                                                           Reviewer Comment      07/11/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 73433043 33832833                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $12,000.  Provide updated                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   policy reflecting minimum coverage of $XXXXX OR provide                                                                                               (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 copy of insurer's replacement cost estimate supporting                                                                                                                                                                                                                                     Other
                                                                                                                                                                                                                                                 current coverage amount.  A copy of the checklist of
                                                                                                                                                                                                                                                 coverage in this case is acceptable.                                                                                                                  Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-12): XXXXX
[redacted] [redacted] [redacted] [redacted] 73433043 34043354                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1                     A                     A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75521641 33932280                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible Mortgage loan contains an impermissible prepayment                                                                                                    Reviewer Comment                        07/24/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum  penalty; however Note or Prepay Addendum provides                                                                                                     (2025-07-24): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            provides specific language that prepayment penalty   specific language that prepayment penalty will not exceed
                                                                                                                                                                                            will not exceed maximum permitted by applicable law. maximum permitted by applicable law.
[redacted] [redacted] [redacted] [redacted] 75521641 33932292                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Appraisal is                                                            The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/22/2025                   1          D          A          D          A                MD        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      missing. Sec ID: 1                                                                                 required for securitization purposes.                                                                                                                 (2025-07-22): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 75521641 33932321                         Credit     Property -     Appraisal      Property -     Missing Document: Appraisal not provided                                                           The provided appraisal is having blank pages and no data                                                                                              Reviewer Comment      07/21/2025                   1          D          A          D          A                MD        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal                                                                                                         is mentioned and no other appraisal is present in file.                                                                                               (2025-07-21): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 75521641 33932330                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missing rate lock document.                                                                                                               Reviewer Comment      07/21/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-21): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 75521641 33932335                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: Property is located in a                                                      The property is located in FEMA Disaster area. Provide a                                                                                              Reviewer Comment      07/21/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  FEMA Disaster area and has not been                                                                post-disaster inspection verifying there was no damage.                                                                                               (2025-07-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              inspected.                                                                                         The inspection must include exterior photos and the
                                                                                                                                                                                                                                                 property must be re-inspected on or after XX/XX/XX03
                                                                                                                                                                                                                                                 declared end date.                                                                                                                                    Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 75521641 33996323                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/21/2025 2                     B                     B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75521641 33996356                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $13,856.00. Provide                                                                                                   Reviewer Comment      08/01/2025                   1                     A                     A                MD        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-08-01): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate
                                                                                                                                                                                                                                                 supporting current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-31): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 75521641 33996358                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/11/2025                   1                     A                     A                MD        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-11): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 75521641 34022517                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/08/2025                   1                     A                     A                MD        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-08): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 71219940 34063660                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78615714 34075768                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/05/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75240893 34402501                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/15/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73623388 33874283                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification updated appraisal was delivered to borrower                                                                                                                                      07/14/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   was not provided.                                                                                                                                                                                                                                                                          Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 73623388 33874293                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/14/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 70020157 34092073                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/07/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 70020157 34092210                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/01/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 77875261 34149350                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71961051 34485754                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/22/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75567048 34070244                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/05/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 75108401 34146801                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/08/2025 2          B          B          B          B                NV        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 73752468 34056856                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 73752468 34057694                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/30/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72215001 34194037                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/20/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 78455066 33874784                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/14/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 79466283 33807498                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $635,013.60. Provide                                                                                                  Reviewer Comment      07/22/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-07-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 supporting current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 79466283 33807514                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Copy of Rate lock is missing.                                                                                                                         Reviewer Comment      07/08/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 79466283 33807544                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/02/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 79466283 34043703                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1                     A                     A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79576942 33950104                         Credit     Guideline      Guideline      Guideline      Minimum of 600 square feet of gross living                                                         Subject is less than 600 square living feet and does not  Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        07/22/2025 2          C          B          C          B                FL        Investment Purchase                              N/A    No
                                                                                                                Issue                         area required per company guidelines.                                                              meet guidelines.                                          exceed the amount required based on the guidelines by at                                    (2025-07-22): XXXXX
                                                                                                                                                                                                                                                                                                           least 4 months.                                                        SitusAMC

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline                                         Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.                                                              07-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 79576942 33950138                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                                                                                                                                                                          Reviewer Comment      07/18/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                                                                                                                                                                                    (2025-07-18): XXXXX
                                                                                                                                              warrantable.
[redacted] [redacted] [redacted] [redacted] 72811698 33991216                         Credit     Loan Package   Closing /      Missing        Missing Document: Security Instrument -                                                            The file is missing a copy of Security Instrument.                                                                                                    Reviewer Comment      07/29/2025                   1          D          A          D          A                PA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Document       Subject Lien not provided                                                                                                                                                                                                                                (2025-07-29): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 72811698 33991351                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $56,000.00. Provide                                                                                                   Reviewer Comment      08/15/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-08-15): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate
                                                                                                                                                                                                                                                 supporting current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 72811698 33995020                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/25/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-25): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 77958346 34062053                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77495322 33994850                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/31/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 78822581 34129848                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73747517 34276650                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/02/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73747517 34278329                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible Mortgage loan contains an impermissible prepayment                                                                                                    Reviewer Comment                        09/03/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum  penalty; however, Note or Prepay Addendum provides                                                                                                    (2025-09-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            provides specific language that prepayment penalty   specific language that prepayment penalty will not exceed                                                                                                                                                                                                                                  Other
                                                                                                                                                                                            will not exceed maximum permitted by applicable law. maximum permitted by applicable law.
[redacted] [redacted] [redacted] [redacted] 73747517 34278356                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File does not have Rate Lock document in file.                                                                                                        Reviewer Comment      09/03/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 78938275 34177330                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 78938275 34177439                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The file was missing a copy of the final title policy.    Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/15/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                                                                                     document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                                                                                                                                               be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                                                                                                                                           as a trailing
                                                                                                                                              is provided.                                                                                                                                                                                                          document
[redacted] [redacted] [redacted] [redacted] 75356029 34141141                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                NJ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70464259 34047151                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79157630 34042168                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78847698 34129490                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/07/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78897565 34204771                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      08/19/2025 2          B          B          B          B                CT        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 78897565 34204772                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      08/19/2025 2          B          B          B          B                CT        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70901087 33993044                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/24/2025                   1                     A                     A                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 72330364 33993045                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/24/2025                   1                     A                     A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 74170462 33960892                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/21/2025 2          B          B          B          B                MT        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74170462 33960893                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/21/2025 2          B          B          B          B                MT        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70634381 34004367                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/24/2025 2          B          B          B          B                IN        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78133627 34047715                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 78133627 34048411                         Credit     Loan Package   Application /  Loan Package   Missing Document: Verification of                                                                  Verification of Identification is missing                                                                                                             Reviewer Comment      08/01/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Identification not provided                                                                                                                                                                                                                              (2025-08-01): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-31): XXXXX
[redacted] [redacted] [redacted] [redacted] 77477031 33819287                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                                                                                                                                                                                     Reviewer Comment      07/11/2025                   1          D          A          D          A                WA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                                                                                                                                                                          (2025-07-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76595228 33995021                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/25/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-25): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 75100771 33944647                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/17/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75100771 33944649                         Compliance Compliance     Federal        Missing        Notice of Special Flood Hazard Disclosure Not FDPA Notification Rule: Creditor did not provide a   Evidence of earlier receipt of Notice of Special Flood                                                                                                Reviewer Comment                        07/24/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance     Disclosure     Provided Timely                               Notice of Special Flood Hazard Disclosure within a   Hazard Disclosure was not located in file.                                                                                                            (2025-07-24): XXXXX
                                                                                                                                                                                            reasonable time prior to closing.

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 70247393 33970457                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/22/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70247393 33995022                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/25/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 79025365 34121262                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/06/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73493728 34043318                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1                     A                     A                IN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 77539457 34129736                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70489147 34139077                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                NV        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70489147 34139587                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of Rate lock document.                                                                                                    Reviewer Comment      08/15/2025                   1          C          A          C          A                NV        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-08-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 70489147 34139649                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/15/2025                   1          D          A          D          A                NV        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 75609581 34019517                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/28/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 75609581 34042841                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76302614 34042512                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76302614 34042590                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/29/2025 2          B          B          B          B                PA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 75831000 34479821                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/22/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79041983 33995025                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/25/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 72071135 34548551                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Debt
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Consolidation
[redacted] [redacted] [redacted] [redacted] 72253196 34176932                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/14/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72253196 34179450                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/14/2025 2          B          B          B          B                IL        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 71177206 34159804                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                CO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71177206 34179076                         Credit     Loan Package   Application /  Loan Package   Missing Document: Note Addendum - Prepayment                                                       Missing prepayment addendum to the Note.                                                                                                              Reviewer Comment      08/15/2025                   1          C          A          C          A                CO        Investment Refinance -                           N/A    Yes
                                                                                                 Documentation  Processing     Documentation  not provided                                                                                                                                                                                                                                             (2025-08-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 73948013 33987090                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/23/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73948013 33987122                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing a copy of Initial Rate Lock Date                                                                                                      Reviewer Comment      07/24/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-07-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 73948013 33987128                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/25/2025                   1          D          A          D          A                AL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 73948013 34047320                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        07/25/2025 2                     B                     B                AL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-07-25): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 74508163 33969659                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of Rate lock document.                                                                                                    Reviewer Comment      07/23/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 74508163 33969692                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/22/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74508163 33995026                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/25/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 33858441                         Credit     Credit         Credit         Missing        Missing Document: Credit Report not provided                                                       Credit report is missing in the file.                                                                                                                 Reviewer Comment      07/11/2025                   1          D          A          D          A                CA        Investment Purchase                              N/A    No
                                                                                                                Documentation  Document                                                                                                                                                                                                                                                                (2025-07-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 33858444                         Credit     Loan Package   Application /  Insurance      Missing Document: Flood Certificate not                                                            Flood certificate is missing in the file.                                                                                                             Reviewer Comment      07/11/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing                    provided                                                                                                                                                                                                                                                 (2025-07-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 33858450                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                Fraud report is missing in the file.                                                                                                                  Reviewer Comment      07/11/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-07-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 33858451                         Credit     Property -     Appraisal      Property -     Missing Document: Appraisal not provided                                                           Appraisal is missing from file.                                                                                                                       Reviewer Comment      07/14/2025                   1          D          A          D          A                CA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal                                                                                                                                                                                                                                                               (2025-07-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 33858460                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      07/14/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-07-14): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 33858475                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $0.00 are                                                                                                     Reviewer Comment      07/25/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $127,316.95.                                                                                                    (2025-07-25): XXXXX
                                                                                                                Analysis

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 33858478                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial rate lock date is not documented in file.                                                                                                     Reviewer Comment      07/11/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 33858487                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Appraisal is                                                            The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/14/2025                   1          D          A          D          A                CA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      missing. Sec ID: 1                                                                                 required for securitization purposes.                                                                                                                 (2025-07-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 33858493                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: Property is located in a                                                      The property is located in FEMA Disaster area. Provide a                                                                                              Reviewer Comment      07/14/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  FEMA Disaster area and has not been                                                                post-disaster inspection verifying there was no damage.                                                                                               (2025-07-14): XXXXX
                                                                                                                                              inspected.                                                                                         The inspection must include exterior photos and the
                                                                                                                                                                                                                                                 property must be re-inspected on or after XX/XX/XX
                                                                                                                                                                                                                                                 declared end Date.                                                                                                                                    Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 33858510                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     Unable to determine compliance with timing           Unable to determine compliance with timing requirements                                                                                                                                       07/10/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      requirements due to missing Initial Loan Application due to missing Initial Loan Application Date.
                                                                                                                                                                                            Date.
[redacted] [redacted] [redacted] [redacted] 75536146 33858511                         Compliance Compliance     Federal        Missing        Missing Initial Loan Application              The initial loan application was missing from the    The initial loan application was missing from the loan                                                                                                Reviewer Comment      07/11/2025                   1          B          A          B          A                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance     Application                                                  loan file.                                           file.                                                                                                                                                 (2025-07-11): XXXXX
                                                                                                                               Date

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 33858512                         Compliance Compliance     Federal        Missing        Missing Initial Loan Application Testing      No evidence of application date located in file.     No evidence of application date located in file.                                                                                                      Reviewer Comment      07/14/2025                   1          B          A          B          A                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance     Application                                                  Compliance tests were run using an application date  Compliance tests were run using an application date of                                                                                                (2025-07-14): XXXXX
                                                                                                                               Date                                                         of XX/XX/XX which is 1 months prior to consummation. XX/XX/XX which is 1 months prior to consummation. A
                                                                                                                                                                                            A lookback was performed to determine this           lookback was performed to determine this application date
                                                                                                                                                                                            application date using the following dates:          using the following dates: XX/XX/XX, XX/XX/XX, XX/XX/XX,                                                                                              Seller Comment (2025-
                                                                                                                                                                                            XX/XX/XX, XX/XX/XX, XX/XX/XX, XX/XX/XX.  Lookback    XX/XX/XX. Lookback testing performed up to one of the                                                                                                 07-11): XXXXX
                                                                                                                                                                                            testing performed up to one of the following: TRID   following: TRID start date, TIL/MDIA XXXXX start date,
                                                                                                                                                                                            start date, TIL/MDIA XXXXX start date, RESPA XXXXX   RESPA XXXXX start date, TIL/MDIA XXXXX start date, LOS
                                                                                                                                                                                            start date,  TIL/MDIA XXXXX start date, LOS          Application Date, Broker Application Date, or six months
                                                                                                                                                                                            Application Date, Broker Application Date, or six    prior to consummation.
                                                                                                                                                                                            months prior to consummation.
[redacted] [redacted] [redacted] [redacted] 75536146 33911869                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/11/2025 2                     B                     B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided.
                                                                                                                                                                                            disclosure to applicant within three (3) business
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 75536146 33922525                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      07/14/2025 2                     B                     B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75536146 33922651                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/25/2025                   1                     A                     A                CA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 75536146 34047360                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        07/25/2025 2                     B                     B                CA        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  this purchase transaction of at least 5% and $5,000.00.                                     (2025-07-25): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  minimum by at least 40 points.
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 79940401 33933029                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/17/2025 2          B          B          B          B                IN        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 79940401 33933086                         Credit     Hazard         Insufficient   Hazard         The Hazard Insurance Policy Effective Date is                                                      Hazard Insurance Policy Effective Date XX/XX/XX,                                                                                                      Reviewer Comment      07/21/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                 Insurance      Coverage       Insurance      after closing.                                                                                     Disbursement Date: XX/XX/XX.                                                                                                                          (2025-07-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 79940401 33933089                         Credit     Compliance     Miscellaneous  Compliance     Patriot Act Disclosure is missing             -                                                    Copy of Patriot Act Disclosure is missing.                                                                                                            Reviewer Comment      07/25/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                                Compliance                                                                                                                                                                                                                                                                             (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 79940401 33933118                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            07/17/2025 2          B          B          B          B                IN        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 79940401 34042625                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1                     A                     A                IN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73046133 34131449                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/06/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73046133 34131529                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/08/2025                   1          D          A          D          A                OH        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 73046133 34131562                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock rate                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           date.                                                                                                                                                 (2025-08-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 73046133 34144019                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           File is missing a XXX Letter or Cash Flow Analysis                                                                                                    Reviewer Comment      08/08/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          verifying that use of Business Funds will not harm the                                                                                                (2025-08-08): XXXXX
                                                                                                                Analysis                                                                                                                         Business.
[redacted] [redacted] [redacted] [redacted] 73046133 34144020                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       File is missing a XXX Letter or Cash Flow Analysis                                                                                                    Reviewer Comment      08/08/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       verifying that use of Business Funds will not harm the                                                                                                (2025-08-08): XXXXX
                                                                                                                Guidelines                                                                                                                       Business.
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 73046133 34171227                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per Guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        08/08/2025 2                     B                     B                OH        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                                                              (2025-08-08): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR a 2nd full appraisal. Lender provided CU score
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 73046133 34171284                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        08/08/2025 2                     B                     B                OH        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                                                              (2025-08-08): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
[redacted] [redacted] [redacted] [redacted] 76423996 34161600                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/12/2025 2          B          B          B          B                IA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 76423996 34161682                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/13/2025                   1          C          A          C          A                IA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-13): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 79699683 34167243                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/13/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 73231217 33987182                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/23/2025 2          B          B          B          B                MI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70524318 34043320                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/28/2025                   1                     A                     A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73135569 34109545                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/05/2025 2          B          B          B          B                NJ        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74983284 34129055                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74983284 34129154                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain documentation confirming the condo                                                                                              Reviewer Comment      08/08/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              is warrantable.                                                                                                                                       (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              warrantable.                                                                                                                                                                                                                                                                                                                                                                                  Other
[redacted] [redacted] [redacted] [redacted] 79069133 34131414                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                WA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71091644 34158549                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76895818 33923598                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missing a copy of Initial Rate Lock                                                                                                       Reviewer Comment      07/22/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-07-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 76895818 33923611                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/16/2025 2          B          B          B          B                NY        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2025-12-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 76895818 33923714                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Cash reserves required. The bank statement on file is not                                                                                             Reviewer Comment      07/22/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       of our borrower nor there is evidence of access to funds                                                                                              (2025-07-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                       letter on file.                                                                                                                                                                                                                                                                            Other
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 76895818 33950668                         Credit     Guideline      Guideline      Guideline      Minimum of 600 square feet of gross living                                                         Unit two of the subject is noted to be 378 square feet of Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        07/25/2025 2          C          B          C          B                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         area required per company guidelines.                                                              gross living area which is less than guides require.      exceed the amount required based on the guidelines by at                                    (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                           least 4 months.                                                                                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 76895818 34043358                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1                     A                     A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71744406 34179277                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/14/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71744406 34180635                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/14/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 78724947 34070783                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/05/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 73013304 34058555                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Lender Exception in file approving Seller being on file   Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        08/01/2025 2          C          B          C          B                AL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 only since XX/XX/XX. There is no LLPA for this Exception. exceed the amount required based on the guidelines by at                                    (2025-08-01): XXXXX
                                                                                                                                                                                                                                                                                                           least 4 months.

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 74705577 34108165                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 74705577 34108418                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/05/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 74705577 34108429                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/05/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74854036 34188730                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 74854036 34189666                         Compliance Compliance     Federal        Missing        Notice of Special Flood Hazard Disclosure     FDPA Notification Rule: Creditor did not provide a   Creditor did not provide a Notice of Special Flood Hazard                                                                                             Reviewer Comment                        08/21/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Disclosure     Missing                                       Notice of Special Flood Hazard Disclosure for        Disclosure for property located in a flood zone.                                                                                                      (2025-08-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            property located in a flood zone.                                                                                                                                                                                                                                                                                                               Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 74854036 34189671                         Credit     Insurance      Insurance      Insurance      Missing Document: Flood Insurance Policy not                                                       The file was missing a copy of the required flood                                                                                                     Reviewer Comment      08/15/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 provided                                                                                           insurance document.                                                                                                                                   (2025-08-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 74854036 34189711                         Credit     Title          Document Error Title          The Preliminary/Commitment does not reflect a                                                      The preliminary title report in file did not disclose the                                                                                             Reviewer Comment      08/20/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              coverage amount (no final title policy in                                                          amount of title insurance coverage. Provide a copy of the                                                                                             (2025-08-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              file). Unable to determine if appropriate                                                          final title policy or an addendum to the preliminary                                                                                                                                                                                                                                       Other
                                                                                                                                              coverage is provided.                                                                              report verifying title insurance of at least the loan
                                                                                                                                                                                                                                                 amount.                                                                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 79367207 34158558                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75860358 34129313                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73615718 34273426                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  The Borrower's previous housing payment history is        The Loan to Value (LTV) on the loan is less than the                   SitusAMC             Reviewer Comment                        08/22/2025 2                     B                     B                FL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 required. The file must contain verification of the       guideline maximum by at least 10%.                                                          (2025-08-22): XXXXX
                                                                                                                                                                                                                                                 Borrower's 12 month payment history on the primary                                                                               SitusAMC
                                                                                                                                                                                                                                                 residence.  If the Borrower previously paid rent for      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 their residence, then the Borrower's rental housing       exceed the amount required based on the guidelines by at               SitusAMC
                                                                                                                                                                                                                                                 payment history is required. Payments must be documented  least 4 months.
                                                                                                                                                                                                                                                 via an institutional Verification of Rent (VOR)/ credit
                                                                                                                                                                                                                                                 supplement, or cancelled checks/bank records. A VOR from  The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                 an individual or a private party landlord does            minimum by at least 40 points.
                                                                                                                                                                                                                                                 not meet the requirement of verifying the Borrower's
                                                                                                                                                                                                                                                 prior housing payment history. Borrowers who live rent
                                                                                                                                                                                                                                                 free are ineligible.
[redacted] [redacted] [redacted] [redacted] 77209435 34204711                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/20/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77127272 34189328                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per borrower LOE, she has lived rent free.  Per guides,   Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        08/15/2025 2          C          B          C          B                FL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 borrower's who live rent free are not eligible.           exceed the amount required based on the guidelines by at                                    (2025-08-15): XXXXX
                                                                                                                                                                                                                                                                                                           least 4 months.                                                        SitusAMC

                                                                                                                                                                                                                                                                                                           Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                                                                           this purchase transaction of at least 5% and $5,000.00.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                            SitusAMC

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 77487582 34273398                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  The Borrower's previous housing payment history is        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        08/22/2025 2                     B                     B                FL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 required. The file must contain verification of the       exceed the amount required based on the guidelines by at                                    (2025-08-22): XXXXX
                                                                                                                                                                                                                                                 Borrower's 12 month payment history on the primary        least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 residence.  If the Borrower previously paid rent for
                                                                                                                                                                                                                                                 their residence, then the Borrower's rental housing       The representative FICO score exceeds the guideline                    SitusAMC
                                                                                                                                                                                                                                                 payment history is required. Payments must be documented  minimum by at least 40 points.
                                                                                                                                                                                                                                                 via an institutional Verification of Rent (VOR)/ credit
                                                                                                                                                                                                                                                 supplement, or cancelled checks/bank records. A VOR from  The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                 an individual or a private party landlord does            guideline maximum by at least 10%.
                                                                                                                                                                                                                                                 not meet the requirement of verifying the Borrower's
                                                                                                                                                                                                                                                 prior housing payment history. Borrowers who live rent
                                                                                                                                                                                                                                                 free are ineligible.
[redacted] [redacted] [redacted] [redacted] 71781583 34070785                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/05/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77879367 34171151                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/13/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76067717 34129810                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70135616 34019994                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/28/2025 2          B          B          B          B                MI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76349946 34058467                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 76349946 34058862                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/07/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 71240564 34038899                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification revised appraisal was delivered to borrower                                                                                                                                      07/29/2025 2          B          B          B          B                IN        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   was not provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 71240564 34038900                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification secondary appraisal product was delivered to                                                                                                                                     07/29/2025 2          B          B          B          B                IN        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   borrower was not provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 73144353 34002420                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      07/31/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will  not negatively                                                                                               (2025-07-31): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 73144353 34025059                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Borrower is currently renting and a VOR is required per   Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        08/01/2025 2          C          B          C          B                OH        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 guides.                                                   exceed the amount required based on the guidelines by at                                    (2025-08-01): XXXXX
                                                                                                                                                                                                                                                                                                           least 4 months.                                                        SitusAMC

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline                                         Seller Comment (2025-
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.                                                              07-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 73144353 34025064                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Evidence the borrower was provided a copy of the                                                                                                                                              07/24/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          appraisal was not in file.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73144353 34025065                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Business funds are being used to purchase the subject                                                                                                 Reviewer Comment      07/31/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       property. per guidelines Funds from a business account                                                                                                (2025-07-31): XXXXX
                                                                                                                Guidelines                                                                                                                       (if the Borrower is the sole owner (or other owner is
                                                                                                                Discrepancy                                                                                                                      non-borrowing spouse) of the company and the company's
                                                                                                                                                                                                                                                 XXX provides a statement indicating withdrawal of the                                                                                                 Seller Comment (2025-
                                                                                                                                                                                                                                                 funds will not negatively impact the business OR meet                                                                                                 07-30): XXXXX
                                                                                                                                                                                                                                                 XXXXX guidance for cash flow analysis) XXXXX be used for
                                                                                                                                                                                                                                                 down payment and reserves.  File is not documented with
                                                                                                                                                                                                                                                 either acceptable document therefore the funds were not
                                                                                                                                                                                                                                                 included as available assets.
[redacted] [redacted] [redacted] [redacted] 73144353 34025068                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Business funds are being used to purchase the subject                                                                                                 Reviewer Comment      07/31/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          property. per guidelines Funds from a business account                                                                                                (2025-07-31): XXXXX
                                                                                                                Analysis                                                                                                                         (if the Borrower is the sole owner (or other owner is
                                                                                                                                                                                                                                                 non-borrowing spouse) of the company and the company's
                                                                                                                                                                                                                                                 XXX provides a statement indicating withdrawal of the                                                                                                 Seller Comment (2025-
                                                                                                                                                                                                                                                 funds will not negatively impact the business OR meet                                                                                                 07-30): XXXXX
                                                                                                                                                                                                                                                 XXXXX guidance for cash flow analysis) XXXXX be used for
                                                                                                                                                                                                                                                 down payment and reserves.  File is not documented with
                                                                                                                                                                                                                                                 either acceptable document therefore the funds were not
                                                                                                                                                                                                                                                 included as available assets.
[redacted] [redacted] [redacted] [redacted] 79669677 34068317                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71326373 33956379                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/23/2025                   1          D          A          D          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 71326373 33995027                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/24/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71862028 34194185                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 75373964 34044109                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79093927 34187376                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      08/18/2025                   1          C          A          C          A                MO        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-08-18): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 79093927 34187436                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $0.00 are                                                                                                     Reviewer Comment      08/19/2025                   1          C          A          C          A                MO        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $22,617.94. Missing                                                                                             (2025-08-19): XXXXX
                                                                                                                Analysis                                                                                                                         letter from company's XXX providing a statement
                                                                                                                                                                                                                                                 indicating withdrawal of the funds will not negatively
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow                                                                                              Seller Comment (2025-
                                                                                                                                                                                                                                                 analysis.                                                                                                                                             08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 79093927 34187440                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      08/18/2025                   1          C          A          C          A                MO        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Missing letter                                                                                               (2025-08-18): XXXXX
                                                                                                                Guidelines                                                                                                                       from company's XXX providing a statement indicating
                                                                                                                Discrepancy                                                                                                                      withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 72705792 33919258                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     Unable to determine compliance with timing           Unable to determine compliance with timing requirements                                                                                                                                       07/15/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      requirements due to missing Initial Loan Application due to missing Initial Loan Application Date.                                                                                                                                                                                                                                              Cash-out -
                                                                                                                                                                                            Date.                                                                                                                                                                                                                                                                                                                                           Other
[redacted] [redacted] [redacted] [redacted] 72705792 33919259                         Compliance Compliance     Federal        Missing        Missing Initial Loan Application              The initial loan application was missing from the    The initial loan application was missing from the loan                                                                                                Reviewer Comment      07/23/2025                   1          B          A          B          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Application                                                  loan file.                                           file.                                                                                                                                                 (2025-07-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                               Date                                                                                                                                                                                                                                                                                                                                                                                                         Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 72705792 33919260                         Compliance Compliance     Federal        Missing        Missing Initial Loan Application Testing      No evidence of application date located in file.     No evidence of application date located in file.                                                                                                      Reviewer Comment      07/23/2025                   1          B          A          B          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Application                                                  Compliance tests were run using an application date  Compliance tests were run using an application date of                                                                                                (2025-07-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                               Date                                                         of XX/XX/XXX, XX/XX/XXX, XX/XX/XX.  Lookback testing XX/XX/XXX, XX/XX/XXX, XX/XX/XX. Lookback testing                                                                                                                                                                                                                                           Other
                                                                                                                                                                                            performed up to one of the following: TRID start     performed up to one of the following: TRID start date,
                                                                                                                                                                                            date, TIL/MDIA XXXXX start date, RESPA XXXXX start   TIL/MDIA XXXXX start date, RESPA XXXXX start date,                                                                                                    Reviewer Comment
                                                                                                                                                                                            date,  TIL/MDIA XXXXX start date, LOS Application    TIL/MDIA XXXXX start date, LOS Application Date, Broker                                                                                               (2025-07-18): XXXXX
                                                                                                                                                                                            Date, Broker Application Date, or six months prior   Application Date, or six months prior to consummation.
                                                                                                                                                                                            to consummation.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 72705792 33919279                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/22/2025                   1          D          A          D          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 72705792 34023076                         Compliance Compliance     Federal        Missing        Initial Loan Application - Signed and Dated   The initial loan application was not signed and      The initial loan application was not signed by the                                                                                                    Reviewer Comment      07/25/2025                   1                     A                     A                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Application                                                  dated.                                               borrower.                                                                                                                                             (2025-07-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                               Date                                                                                                                                                                                                                                                                                                                                                                                                         Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 72705792 34043359                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/30/2025                   1                     A                     A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 75667667 34364401                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/10/2025                   1          C          A          C          A                VT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75667667 34364487                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification revised appraisal was delivered to borrower                                                                                                                                      09/11/2025 2          B          B          B          B                VT        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   was not provided.                                                                                                                                                                                                                                                                          Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76308490 34168190                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/13/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76308490 34168219                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock rate                                                                                             Reviewer Comment      08/15/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           date.                                                                                                                                                 (2025-08-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 76308490 34168220                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/14/2025                   1          D          A          D          A                AL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 76308490 34208739                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        08/14/2025 2                     B                     B                AL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-08-14): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 71741185 34133966                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/07/2025 2          B          B          B          B                RI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71741185 34133967                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/07/2025 2          B          B          B          B                RI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71741185 34152569                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       PITIA months reserves of 5.76 is less than Guideline                                                                                                  Reviewer Comment      09/09/2025                   1          C          A          C          A                RI        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       PITIA months reserves of 6.00.                                                                                                                        (2025-09-09): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-20): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 71741185 34152587                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Fil eis missing evidence of access to funds stating use   Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        09/09/2025 2          C          B          C          B                RI        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       of business funds will not have negative impact on        this purchase transaction of at least 5% and $5,000.00.                                     (2025-09-09): XXXXX
                                                                                                                                                                                                                                                 business                                                                                                                         SitusAMC
                                                                                                                                                                                                                                                                                                           Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                                                                           exceed the amount required based on the guidelines by at                                    Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           least 4 months.                                                                             09-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-20): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 74355580 34096853                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/01/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 74355580 34096863                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/01/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78407476 34207816                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/20/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78407476 34208235                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/20/2025 2          B          B          B          B                OK        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77522269 34194009                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 79185871 34129542                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79185871 34130986                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/07/2025 2          B          B          B          B                AZ        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 74318243 34446600                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/18/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70211323 34622839                         Credit     Compliance     Miscellaneous  Compliance     Patriot Act Disclosure is missing             -                                                    Patriot Act Disclosure is missing in the file.                                                                                                        Reviewer Comment      10/09/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                                                                                                                                                                                                                                                                             (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 78969250 34042170                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/31/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78969250 34043864                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        07/29/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 76557777 34042160                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      07/31/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-07-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71955089 34149746                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/11/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 71955089 34149752                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/11/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74715192 34193496                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 74715192 34194571                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Borrower with VOM completed by an individual not a        The qualifying DSCR on the loan is greater than the      The DSCR of   SitusAMC,Aggregator  Reviewer Comment                        08/19/2025 2          C          B          C          B                NY        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 Financial institution as required by the Guidelines.      guideline minimum.                                       2.63 is                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 Compensating factors are DSCR of 2.79, Borrower has owned                                                          greater than                                                                                                                                                            Other
                                                                                                                                                                                                                                                 the subject for over 2 years and lived in their primary                                                            the minimum
                                                                                                                                                                                                                                                 residence for over two years with no lates. Lender                                                                 required DSCR
                                                                                                                                                                                                                                                 exception in file required that cancelled checks or proof                                                          of 1.00.
                                                                                                                                                                                                                                                 of auto w/d are required to support and were not provided
                                                                                                                                                                                                                                                 in the file.
[redacted] [redacted] [redacted] [redacted] 75436259 33948307                         Compliance Loan Package   Closing /      Missing,       (Doc Error) HUD Error: Disbursement date is                                                        Disbursement / Settlement date is missing in HUD-1.                                                                                                   Reviewer Comment      05/20/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Incorrect, or  earlier than notary/security instrument date.                                                      Unable to confirm and test final closing statement                                                                                                    (2025-05-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                               Incomplete                                                                                                                                                                                                                                                                                                                                                                                                   Other
                                                                                                                               HUD-1
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       05-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 77132954 34158873                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                KS        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77132954 34161656                         Credit     Loan Package   Application /  Loan Package   Missing Document: Employer Identification                                                          The file is missing a copy of EIN document.                                                                                                           Reviewer Comment      08/15/2025                   1          C          A          C          A                KS        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Number (EIN) not provided                                                                                                                                                                                                                                (2025-08-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 71482251 34204287                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/20/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-20): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71482251 34204978                         Credit     Title          Document Error Title          The Preliminary/Commitment does not reflect a                                                      The preliminary title report in file disclosed an amount                                                                                              Reviewer Comment      08/21/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                                              coverage amount (no final title policy in                                                          of title insurance coverage that is less than the loan                                                                                                (2025-08-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              file). Unable to determine if appropriate                                                          amount.  Provide a copy of the final title policy or an
                                                                                                                                              coverage is provided.                                                                              addendum to the preliminary report verifying title
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                                                                Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 79450638 34249201                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/25/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79450638 34249479                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            08/22/2025 2          B          B          B          B                AZ        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 79450638 34249651                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain documentation from lender/seller                                                                                                Reviewer Comment      08/26/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              confirming the condo is warrantable.                                                                                                                  (2025-08-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              warrantable.                                                                                                                                                                                                                                                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 72814194 34030077                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Evidence of earlier receipt not found in file                                                                                                                                                 07/25/2025 2          B          B          B          B                AZ        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal                                                                                                                                                                                                                                                                                             Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business                                                                                                                                                                                                                                                                                               Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 76069511 34157470                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            08/11/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 76069511 34157478                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain documentation confirming the condo                                                                                              Reviewer Comment      08/12/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              is warrantable.                                                                                                                                       (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              warrantable.                                                                                                                                                                                                                                                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-12): XXXXX
[redacted] [redacted] [redacted] [redacted] 76827679 33965609                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof the Right to Receive a Copy                                                                                                                                        07/22/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure was provided to the borrower(s)                                                                                                                                                                                                                                       Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    within 3 days of the application date.                                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 75658038 34092646                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/06/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78321605 34166236                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/14/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73523667 34118820                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/07/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76431261 34106599                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/07/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76431261 34107854                         Credit     Loan Package   Closing /      Missing        Missing Document: Rider - Other not provided                                                       The file is missing a copy of Rider - Other Document.                                                                                                 Reviewer Comment      08/14/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Document                                                                                                                                                                                                                                                                (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 73658518 34176549                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/18/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72324116 34182772                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/14/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72061415 34069281                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated PITIA months reserves of 4.44 is less than     Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        08/05/2025 2          C          B          C          B                CT        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              Guideline PITIA months reserves of 6.00.                  this purchase transaction of at least 5% and $5,000.00.                                     (2025-08-05): XXXXX
                                                                                                                Guidelines                                                                                                                                                                                                                                                        SitusAMC
                                                                                                                Discrepancy                                                                                                                                                                                The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 71834074 34128948                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification of appraisal was delivered to borrower was                                                                                                                                       08/07/2025 2          B          B          B          B                SC        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          not provided
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74355370 34106588                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/06/2025                   1          C          A          C          A                NE        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74163069 34149655                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 74163069 34150323                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/11/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 the final title policy or an addendum to the preliminary                                                           be provided
                                                                                                                                                                                                                                                 report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                                                                                                                                 amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 77232064 34129723                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/08/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-08): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 73281787 34108842                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/05/2025 2          B          B          B          B                MO        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71902194 34148718                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70992237 34172763                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/13/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70992237 34172888                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate lock Rate date is not documented in File -                                                                                               Reviewer Comment      08/14/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           Rate lock Doc not present in File                                                                                                                     (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 70992237 34172891                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                                                                                                                                                                                     Reviewer Comment      08/14/2025                   1          D          A          D          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                                                                                                                                                                          (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70992237 34173080                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain the documentation from                                                                                                          Reviewer Comment      08/20/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              Lender/Seller confirming the condo is warrantable.                                                                                                    (2025-08-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              warrantable.                                                                                                                                                                                                                                                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 70992237 34208746                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        08/14/2025 2                     B                     B                OH        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  years.                                                                                      (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at               SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                            SitusAMC

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 73059212 34141453                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock date                                                                                             Reviewer Comment      08/14/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-08-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 73059212 34141513                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the OFAC document.                                                                                                     Reviewer Comment      08/14/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-08-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 73059212 34141526                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/08/2025 2          B          B          B          B                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73059212 34141527                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/08/2025 2          B          B          B          B                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73059212 34152346                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof Right to Receive a Copy                                                                                                                                            08/08/2025 2          B          B          B          B                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure was provided to the borrower(s)
                                                                                                                                                                                            disclosure to applicant within three (3) business    within 3 days of the application date.
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 79471397 34128988                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79471397 34131764                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification revised appraisal was delivered to borrower                                                                                                                                      08/07/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          was not provided.                                                                                                                                                                                                                                                                          Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79471397 34131786                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing a copy of Initial Rate Lock Date                                                                                                      Reviewer Comment      08/11/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 79471397 34131817                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/07/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 75243174 34148615                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75243174 34149172                         Credit     Loan Package   Application /  Loan Package   Missing Document: Note Addendum - Prepayment                                                       The file is missing copy of Note prepayment addendum                                                                                                  Reviewer Comment      08/21/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    Yes
                                                                                                 Documentation  Processing     Documentation  not provided                                                                                       document.                                                                                                                                             (2025-08-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 75243174 34149180                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/29/2025                   1          D          A          D          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 78268003 34784586                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/29/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-29): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 73738855 34155028                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70320262 34176539                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/14/2025                   1          C          A          C          A                KY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77718347 34038894                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/12/2025                   1          D          A          D          A                CA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 77718347 34191225                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        08/12/2025 2                     B                     B                CA        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-08-12): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
[redacted] [redacted] [redacted] [redacted] 74520256 34108122                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/05/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74520256 34108672                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. One valuation was provided.                                                                                                Reviewer Comment      08/12/2025                   1          D          A          D          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                                                                                                                                                                          (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74520256 34108743                         Credit     Hazard         Insufficient   Hazard         The Hazard Insurance Policy Effective Date is                                                      The homeowner's insurance declarations page in the file                                                                                               Reviewer Comment      08/13/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Insurance      Coverage       Insurance      after closing.                                                                                     verified an effective date of XX/XX/XX. Provide a revised                                                                                             (2025-08-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 homeowner's insurance declaration page or policy                                                                                                                                                                                                                                           Other
                                                                                                                                                                                                                                                 verifying coverage in effect at or prior to consummation.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 74520256 34191236                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        08/12/2025 2                     B                     B                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  years.                                                                                      (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.
[redacted] [redacted] [redacted] [redacted] 71882550 34106929                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/06/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-06): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71882550 34107315                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/05/2025 2          B          B          B          B                NC        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71882550 34138133                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than                                                           The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        09/18/2025 2          C          B          C          B                NC        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.                                                                        minimum by at least 40 points.                                                              (2025-09-18): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 72793811 34167526                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/14/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72793811 34168163                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76438403 34165697                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/14/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 76438403 34166181                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification of appraisal was delivered to borrower was                                                                                                                                       08/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          not provided                                                                                                                                                                                                                                                                               Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76438403 34166182                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification of appraisal was delivered to borrower was                                                                                                                                       08/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  not provided                                                                                                                                                                                                                                                                               Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business                                                                                                                                                                                                                                                                                               Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 70732902 34108688                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/06/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70732902 34109060                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower                                                                                                                                                                                                  08/05/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at                                                                                                                                                                                                                                                                                              Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70732902 34109061                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Waiver Less than 3 ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Borrower provided appraisal waiver less than three (3)                                                                                                Reviewer Comment                        08/14/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Days From Consummation                        provided appraisal waiver less than three (3)        business days prior to consummation.                                                                                                                  (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            business days prior to consummation.                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 70732902 34109070                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/05/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            final title policy or an addendum to the preliminary                                                               be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 70732902 34109074                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/12/2025                   1          D          A          D          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 70732902 34191262                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        08/12/2025 2                     B                     B                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   than the guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
[redacted] [redacted] [redacted] [redacted] 71603037 34042387                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/05/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 71603037 34043262                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. One valuation was provided.                                                                                                Reviewer Comment      08/12/2025                   1          D          A          D          A                NY        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    The provided CU provide relief                                                                                                                        (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 71603037 34065819                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      07/29/2025 2          B          B          B          B                NY        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 71603037 34191276                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        08/12/2025 2                     B                     B                NY        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                 as secondary valuation.                                   minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 73436230 34323037                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/05/2025                   1          C          A          C          A                NJ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-05): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 73436230 34323965                         Compliance Compliance     State          State Defect   XXXXX Prepayment Penalty Test                 XXXXX Prepayment Penalty: No prepayment penalties    No prepayment penalties are permissible in the state of                                                                                               Reviewer Comment                        09/10/2025 2          B          B          B          B                NJ        Investment Refinance -                           N/A    No
                                                                                                                Compliance                                                                  are permissible in the state of XXXXX. Prepay        XXXXX. Prepay language states prepay will not exceed                                                                                                  (2025-09-10): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            language states prepay will not exceed maximum       maximum permitted by applicable law.
                                                                                                                                                                                            permitted by applicable law.
[redacted] [redacted] [redacted] [redacted] 73436230 34489722                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/17/2025                   1                     A                     A                NJ        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-17): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 73436230 34489743                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and       .             Aggregator,SitusAMC  Reviewer Comment                        09/17/2025 2                     B                     B                NJ        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-09-17): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   than the guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 77031300 34043817                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/12/2025                   1          D          A          D          A                NJ        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 77031300 34043874                         Compliance Compliance     State          State Defect   XXXXX Prepayment Penalty                      XXXXX Prepayment Penalty: No prepayment penalties    No prepayment penalties are permissible in the state of                                                                                               Reviewer Comment                        08/07/2025 2          B          B          B          B                NJ        Investment Purchase                              N/A    No
                                                                                                                Compliance                                                                  are permissible in the state of XXXXX. Prepay        XXXXX. Prepay language states prepay will not exceed                                                                                                  (2025-08-07): XXXXX
                                                                                                                                                                                            language states prepay will not exceed maximum       maximum permitted by applicable law.
                                                                                                                                                                                            permitted by applicable law.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 77031300 34191291                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        08/12/2025 2                     B                     B                NJ        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-08-12): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 79743226 34187057                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          File does not have Operating Agreement document in file.                                                                                              Reviewer Comment      08/18/2025                   1          C          A          C          A                MI        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-08-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 79950882 34177111                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/14/2025 2          B          B          B          B                NY        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79950882 34177168                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $86,900.00.  Provide                                                                                                  Reviewer Comment      09/02/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-09-02): XXXXX
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate
                                                                                                                                                                                                                                                 supporting current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 79950882 34202708                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Bank statement for account ending in XXXXX reflects a                                                                                                 Reviewer Comment      08/26/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       large deposit in the amount of $30,000 that is noted to                                                                                               (2025-08-26): XXXXX
                                                                                                                Guidelines                                                                                                                       have be from the borrower's business account.  Per guides
                                                                                                                Discrepancy                                                                                                                      when business funds are being used to purchase the
                                                                                                                                                                                                                                                 subject property:  Funds from a business account (if the                                                                                              Seller Comment (2025-
                                                                                                                                                                                                                                                 Borrower is the sole owner (or other owner is non-                                                                                                    08-26): XXXXX
                                                                                                                                                                                                                                                 borrowing spouse) of the company and the company's XXX
                                                                                                                                                                                                                                                 provides a statement indicating withdrawal of the funds
                                                                                                                                                                                                                                                 will not negatively impact the business OR meet XXXXX
                                                                                                                                                                                                                                                 guidance for cash flow analysis) XXXXX be used for down
                                                                                                                                                                                                                                                 payment and reserves.  File is not documented with either
                                                                                                                                                                                                                                                 acceptable document therefore the funds were not included
                                                                                                                                                                                                                                                 as available assets.
[redacted] [redacted] [redacted] [redacted] 79950882 34202711                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Bank statement for account ending in XXXXX reflects a                                                                                                 Reviewer Comment      08/26/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          large deposit in the amount of $30,000 that is noted to                                                                                               (2025-08-26): XXXXX
                                                                                                                Analysis                                                                                                                         have be from the borrower's business account.  Per guides
                                                                                                                                                                                                                                                 when business funds are being used to purchase the
                                                                                                                                                                                                                                                 subject property:  Funds from a business account (if the                                                                                              Seller Comment (2025-
                                                                                                                                                                                                                                                 Borrower is the sole owner (or other owner is non-                                                                                                    08-26): XXXXX
                                                                                                                                                                                                                                                 borrowing spouse) of the company and the company's XXX
                                                                                                                                                                                                                                                 provides a statement indicating withdrawal of the funds
                                                                                                                                                                                                                                                 will not negatively impact the business OR meet XXXXX
                                                                                                                                                                                                                                                 guidance for cash flow analysis) XXXXX be used for down
                                                                                                                                                                                                                                                 payment and reserves.  File is not documented with either
                                                                                                                                                                                                                                                 acceptable document therefore the funds were not included
                                                                                                                                                                                                                                                 as available assets.
[redacted] [redacted] [redacted] [redacted] 71197947 34356326                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           All Borrowers must also provide evidence that business                                                                                                Reviewer Comment      09/23/2025                   1          C          A          C          A                MS        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          has been in existence for at least two (2) years via                                                                                                  (2025-09-23): XXXXX
                                                                                                                Analysis                                                                                                                         XXX/XXX letter and that using business funds will not
                                                                                                                                                                                                                                                 have a negative impact on the company.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 71197947 34356330                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       XXX letter missing                                                                                                                                    Reviewer Comment      09/23/2025                   1          C          A          C          A                MS        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                                                                                                                                                                             (2025-09-23): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 71197947 34373862                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      In order to use business funds  guidelines require that                                                                                               Reviewer Comment      09/23/2025                   1          C          A          C          A                MS        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       the Borrower is the sole owner (or other owner is non-                                                                                                (2025-09-23): XXXXX
                                                                                                                                                                                                                                                 borrowing spouse) of the company and the company's XXX
                                                                                                                                                                                                                                                 provides a statementindicating withdrawal of the funds
                                                                                                                                                                                                                                                 will not negatively impact the business OR meet                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                 XXXXX guidance for cash flow analysis.                                                                                                                09-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 73018323 34204630                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/20/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73018323 34205093                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $108,143.80  Provide      Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/23/2025 2          C          B          C          B                MO        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX.     exceed the amount required based on the guidelines by at                                    (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 Insurer's replacement cost estimate reflects $254,456     least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 replacement cost.
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Reviewer Comment
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                                                 (2025-09-17): XXXXX

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.                                                          Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 73018323 34215760                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/19/2025 2          B          B          B          B                MO        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 74593336 34159972                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                VA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78033964 34654519                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71681710 34133691                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/07/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                            final title policy or an addendum to the preliminary                                                               be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 73911586 34205562                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      08/19/2025 2          B          B          B          B                NY        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 72976372 34145927                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75931740 34268885                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/27/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74825704 34194064                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76871515 34415693                         Credit     Hazard         Insufficient   Hazard         The Hazard Insurance Policy Effective Date is Hazard Insurance Policy Effective Date ___,          The Hazard Insurance Policy Effective Date is after the                                                                                               Reviewer Comment      09/18/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                 Insurance      Coverage       Insurance      after closing.                                Disbursement Date: ___                               later of the note or transaction date.                                                                                                                (2025-09-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 74409625 34212478                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/21/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71619080 34171575                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/13/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-13): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 78244973 34167991                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/14/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78244973 34171448                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/13/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 74183006 34158854                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 74198550 34448666                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The title report in file disclosed an amount of title     Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/22/2025 2          B          B          B          B                GA        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              insurance coverage that is less than the loan amount.     document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                                                                                                                                 Provide a copy of the final title policy or an addendum                                                            be provided
                                                                                                                                                                                                                                                 to the report verifying title insurance of at least the                                                            as a trailing
                                                                                                                                                                                                                                                 loan amount.                                                                                                       document
[redacted] [redacted] [redacted] [redacted] 78268569 34167131                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/14/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 78877818 34205591                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/20/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78877818 34207474                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      08/19/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 78877818 34207626                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/19/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 79089936 34194084                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79089936 34194718                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/15/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 79089936 34215158                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      08/15/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76898556 34480404                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/23/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-23): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 70978297 34169649                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/14/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74623840 34162312                         Compliance Note           General        Note           Prepayment Penalty Discrepancy                                                                     Final TIL / CD indicates loan has prepayment penalty,                                                                                                 Reviewer Comment      08/19/2025                   1          B          A          B          A                UT        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 however file does not contain prepayment penalty                                                                                                      (2025-08-19): XXXXX
                                                                                                                                                                                                                                                 addendum. Missing prepay data XXXXX result in invalid
                                                                                                                                                                                                                                                 high cost, XXXXX, and/or QM points and fees findings.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 75226297 34196648                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74437391 34143552                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 74948176 34148287                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/11/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74850850 34143230                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/12/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 74599118 34471850                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/19/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77859968 34194436                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77859968 34197355                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        08/18/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 74426085 34491993                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79685640 34186850                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 76153503 34391454                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-14): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 76153503 34391829                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     Unable to determine compliance with timing           Unable to determine compliance with timing requirements                                                                                                                                       09/15/2025 2          B          B          B          B                OH        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      requirements due to missing Initial Loan Application due to missing Initial Loan Application Date.                                                                                                                                                                                                                                              Rate/Term
                                                                                                                                                                                            Date.
[redacted] [redacted] [redacted] [redacted] 76153503 34391830                         Compliance Compliance     Federal        Missing Non-   Missing Final HUD-1 Not Subject to APL        Missing Final HUD-1:  No document containing points  No document containing points and fees provided.                                                                                                      Reviewer Comment      09/16/2025                   1          A          A          A          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Required Data  Testing (Business Purpose Loan)               and fees provided.  Investment occupancy with        Investment occupancy with business purpose cert in file.                                                                                              (2025-09-16): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            business purpose cert in file.  Loan is not subject  Loan is not subject to APL tests in scope requiring
                                                                                                                                                                                            to APL tests in scope requiring points and fees.     points and fees.
[redacted] [redacted] [redacted] [redacted] 76153503 34391831                         Compliance Compliance     Federal        Missing        Missing Initial Loan Application              The initial loan application was missing from the    The initial loan application was missing from the loan                                                                                                Reviewer Comment      09/16/2025                   1          B          A          B          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Application                                                  loan file.                                           file.                                                                                                                                                 (2025-09-16): XXXXX                                                                                                                  Rate/Term
                                                                                                                               Date
[redacted] [redacted] [redacted] [redacted] 76153503 34391832                         Compliance Compliance     Federal        Missing        Missing Initial Loan Application No Fees Test No evidence of application date located in file.     No evidence of application date located in file.                                                                                                      Reviewer Comment      09/16/2025                   1          B          A          B          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Application                                                  Compliance tests were run using an application date  Compliance tests were run using an application date of                                                                                                (2025-09-16): XXXXX                                                                                                                  Rate/Term
                                                                                                                               Date                                                         of XX/XX/XX which is 1 months prior to consummation. XX/XX/XX which is 1 months prior to consummation. A
                                                                                                                                                                                            A lookback was performed to determine this           lookback was performed to determine this application date
                                                                                                                                                                                            application date using the following dates:          using the following dates: XX/XX/XX, XX/XX/XX, XX/XX/XX,
                                                                                                                                                                                            XX/XX/XX, XX/XX/XX, XX/XX/XX, XX/XX/XX, XX/XX/XX,    XX/XX/XX, XX/XX/XX, XX/XX/XX, XX/XX/XX. Lookback testing
                                                                                                                                                                                            XX/XX/XX, XX/XX/XX.  Lookback testing performed up   performed up to one of the following: TRID start date,
                                                                                                                                                                                            to one of the following: TRID start date, TIL/MDIA   TIL/MDIA XXXXX start date, RESPA XXXXX start date,
                                                                                                                                                                                            XXXXX start date, RESPA XXXXX start date,  TIL/MDIA  TIL/MDIA XXXXX start date, LOS Application Date, Broker
                                                                                                                                                                                            XXXXX start date, LOS Application Date, Broker       Application Date, or six months prior to consummation.
                                                                                                                                                                                            Application Date, or six months prior to             Due to missing HUD-1 or Closing Disclosure, no fees were
                                                                                                                                                                                            consummation.  Due to missing HUD-1 or Closing       used in testing.
                                                                                                                                                                                            Disclosure, no fees were used in testing.
[redacted] [redacted] [redacted] [redacted] 76153503 34391854                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Appraisal is                                                            Appraisal is missing. Appraisal provided is not for the                                                                                               Reviewer Comment      09/16/2025                   1          D          A          D          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      missing. Sec ID: 1                                                                                 subject property.                                                                                                                                     (2025-09-16): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76153503 34391856                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Rate Lock document is missing.                                                                                                                        Reviewer Comment      09/17/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-17): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76153503 34391861                         Credit     Legal /        Title / Lien   Legal /        Final Title Policy is missing. No evidence of                                                      Title Evidence is Missing.                                                                                                                            Reviewer Comment      09/16/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Regulatory /   Defect         Regulatory /   title in file.                                                                                                                                                                                                                                           (2025-09-16): XXXXX                                                                                                                  Rate/Term
                                                                                                 Compliance                    Compliance
[redacted] [redacted] [redacted] [redacted] 76153503 34391870                         Credit     Loan Package   Closing /      Title          Title: Evidence of title is missing                                                                Title document is missing.                                                                                                                            Reviewer Comment      09/16/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title                                                                                                                                                                                                                                                                                  (2025-09-16): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76153503 34391874                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: Property is located in a                                                      The property is located in FEMA Disaster area.  Provide a                                                                                             Reviewer Comment      09/16/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  FEMA Disaster area and has not been                                                                post-disaster inspection verifying there was no damage.                                                                                               (2025-09-16): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              inspected.                                                                                         The inspection must include exterior photos and the
                                                                                                                                                                                                                                                 property must be re-inspected on or after XX/XX/XX
                                                                                                                                                                                                                                                 declared end date.  No recent inspection provided.
[redacted] [redacted] [redacted] [redacted] 76153503 34391878                         Credit     Loan Package   Application /  Loan Package   Missing Document: Articles of                                                                      Articles of Organization/Formation is missing.                                                                                                        Reviewer Comment      09/16/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Organization/Formation not provided                                                                                                                                                                                                                      (2025-09-16): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76153503 34391891                         Credit     Loan Package   Application /  Loan Package   Missing Document: Certificate of Good                                                              Certificate of Good Standing document is missing          Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/14/2025 2          C          B          C          B                OH        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Standing not provided                                                                                                                                        exceed the amount required based on the guidelines by at                                    (2025-10-14): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                                                                           least 4 months.                                                        SitusAMC

                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Seller Comment (2025-
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                                                 10-14): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.                                                          Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 76153503 34391897                         Credit     Loan Package   Application /  Loan Package   Missing Document: Corporate Resolution not                                                         Corporate Resolution document is missing.                                                                                                             Reviewer Comment      09/16/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-09-16): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76153503 34391901                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              HUD/CD document is missing.                                                                                                                           Reviewer Comment      09/16/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-09-16): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76153503 34391908                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          Operating Agreement is missing.                                                                                                                       Reviewer Comment      09/16/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-09-16): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76153503 34391912                         Credit     Property -     Appraisal      Property -     Missing Document: Appraisal not provided                                                           Appraisal document is missing. Appraisal provided is not                                                                                              Reviewer Comment      09/16/2025                   1          D          A          D          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal                                                                                                         for the subject property.                                                                                                                             (2025-09-16): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76153503 34391915                         Credit     Property -     General        Property -     Rent schedule is missing on lease property    -                                                    Appraisal document is missing. Appraisal provided is not                                                                                              Reviewer Comment      09/16/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Appraisal      Appraisal                                                                                                         for the subject property.                                                                                                                             (2025-09-16): XXXXX                                                                                                                  Rate/Term
                                                                                                                Requirements
[redacted] [redacted] [redacted] [redacted] 76153503 34479019                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                                                                                                                                                                                     Reviewer Comment      09/23/2025                   1                     A                     A                OH        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                                                                                                                                                                          (2025-09-23): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76153503 34533569                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/23/2025 2                     B                     B                OH        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-09-23): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   than the guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 74216735 34131007                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock                                                                                                  Reviewer Comment      08/11/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-08-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 71874775 34093052                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/05/2025                   1          D          A          D          A                AL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 71874775 34093056                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of Rate lock document.                                                                                                    Reviewer Comment      08/05/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-08-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 71874775 34093075                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/04/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71874775 34146210                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        08/05/2025 2                     B                     B                AL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-08-05): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 76807365 34134160                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower                                                                                                                                              08/07/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          applicant three (3) business days prior to consummation
                                                                                                                                              Consummation                                  applicant three (3) business days prior to           was not in file.
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76807365 34134785                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than                                                           Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        08/15/2025 2          C          B          C          B                FL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.                                                                        this purchase transaction of at least 5% and $5,000.00.                                     (2025-08-15): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75054233 34247373                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/25/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73128754 34186391                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/19/2025                   1          C          A          C          A                KS        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 77029408 34335373                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/09/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 77029408 34340594                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The title report in file disclosed an amount of title     Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/08/2025 2          B          B          B          B                WI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              insurance coverage that is less than the loan amount.     document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 Provide a copy of the final title policy or an addendum                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 to the report verifying title insurance of at least the                                                            as a trailing
                                                                                                                                                                                                                                                 loan amount.                                                                                                       document
[redacted] [redacted] [redacted] [redacted] 77029408 34375042                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Missing evidence that the 10 judgements reflected on                                                                                                  Reviewer Comment      09/29/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 title were paid off.                                                                                                                                  (2025-09-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 77029408 34593519                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: The most recent                                                               The property is located in FEMA Disaster area.  Provide a                                                                                             Reviewer Comment      10/09/2025                   1                     A                     A                WI        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  valuation inspection is dated prior to the                                                         post-disaster inspection verifying there was no damage.                                                                                               (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              most recent FEMA disaster.                                                                         The inspection must include exterior photos and the                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 property must be re-inspected on or after XX/XX/XX
                                                                                                                                                                                                                                                 declared end date.  Most recent inspection provided is                                                                                                Seller Comment (2025-
                                                                                                                                                                                                                                                 dated XX/XX/XX.                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 74494071 34391809                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/15/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71626870 34587848                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79430481 34414880                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/16/2025                   1          C          A          C          A                NV        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77533202 34491520                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 77533202 34494846                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/24/2025 2          B          B          B          B                IL        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 70337538 34273693                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/29/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70337538 34298654                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Loan to value                                                                                                                                                                                                                     Reviewer Comment      09/26/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Program        Mortgage       discrepancy.                                                                                                                                                                                                                                             (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                 Eligibility    Eligibility    Eligibility                                                                                                                                                                                                                                                                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 70337538 34298655                         Credit     Credit         AUS            Guideline      Guideline Requirement: Combined loan to value                                                                                                                                                                                                            Reviewer Comment      09/26/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                                                                                                                                                                             (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 70337538 34514985                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Loan to value                                                               Please provide Minimum 12-month rental history for short                                                                                              Reviewer Comment      09/26/2025                   1                     A                     A                TX        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Program        Mortgage       discrepancy.                                                                                       term rental income as per the guideline requirement,                                                                                                  (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                 Eligibility    Eligibility    Eligibility                                                                                                       Exception Remains.                                                                                                                                                                                                                                                                         Other
[redacted] [redacted] [redacted] [redacted] 70337538 34514986                         Credit     Credit         AUS            Guideline      Guideline Requirement: Combined loan to value                                                      Please provide Minimum 12-month rental history for short                                                                                              Reviewer Comment      09/26/2025                   1                     A                     A                TX        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       term rental income as per the guideline requirement,                                                                                                  (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                       Exception Remains.                                                                                                                                                                                                                                                                         Other
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 75089628 34427391                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/17/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-17): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 75089628 34428806                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible                                                                                                                                                       Reviewer Comment                        09/25/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum                                                                                                                                                        (2025-09-25): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            provides specific language that prepayment penalty
                                                                                                                                                                                            will not exceed maximum permitted by applicable law.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 78305647 34581914                         Credit     Missing        General        Missing        Incomplete Document: 1003 Final is incomplete                                                      Final 1003 is missing the first page.                                                                                                                 Reviewer Comment      10/06/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 77961190 34414786                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/16/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73845984 34587957                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/03/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76870054 34430142                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        09/18/2025 2          C          B          C          B                FL        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                           1.87 is                            (2025-09-18): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow                                                           greater than  Aggregator
                                                                                                                                                                                                                                                 analysis.                                                 The qualifying DSCR on the loan is greater than the      the minimum
                                                                                                                                                                                                                                                                                                           guideline minimum.                                       required DSCR
                                                                                                                                                                                                                                                                                                                                                                    of 1.00
[redacted] [redacted] [redacted] [redacted] 76870054 34430150                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      09/18/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          indicating withdrawal of the funds will not negatively                                                                                                (2025-09-18): XXXXX
                                                                                                                Analysis                                                                                                                         impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
[redacted] [redacted] [redacted] [redacted] 76870054 34430159                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      09/18/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-09-18): XXXXX
                                                                                                                Guidelines                                                                                                                       impact the business OR meet XXXXX guidance for cash flow
                                                                                                                Discrepancy                                                                                                                      analysis.
[redacted] [redacted] [redacted] [redacted] 73393414 34356862                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to      Documented qualifying Assets for Closing of  ___ is  Documented qualifying Assets for Closing of  $165,528.00  The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        09/18/2025 2          C          B          C          B                UT        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                     less than Cash From Borrower ___.                    is less than Cash From Borrower $205,119.42.              minimum by at least 40 points.                           1.33 is                            (2025-09-18): XXXXX
                                                                                                                Analysis                                                                                                                                                                                                                                            greater than  Aggregator
                                                                                                                                                                                                                                                                                                           The qualifying DSCR on the loan is greater than the      the minimum
                                                                                                                                                                                                                                                                                                           guideline minimum.                                       required DSCR                      Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                    of 1.00.                           (2025-09-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 74172175 34536745                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/29/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74172175 34593861                         Credit     Credit         Credit         Guideline      Guideline Requirement: Representative FICO    Representative FICO score of ___ is less than                                                                  Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/03/2025 2          C          B          C          B                PA        Investment Refinance -                           N/A    No
                                                                                                                Calculation /                 score discrepancy.                            Guideline representative FICO score of ___.                                                                    exceed the amount required based on the guidelines by at                                    (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                Analysis                                                                                                                                                                                   least 4 months.                                                                                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 79718623 34493073                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/24/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73449106 34170052                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Copy of Rate Lock is missing.                                                                                                                         Reviewer Comment      08/14/2025                   1          C          A          C          A                IN        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 72793428 34527685                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/26/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72793428 34590685                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof the disclosure was provided to                                                                                                                                     09/29/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  the borrower(s) within 3 days of the application date.                                                                                                                                                                                                                                     Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business                                                                                                                                                                                                                                                                                               Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 70106773 34480022                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/23/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70106773 34480350                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/24/2025 2          B          B          B          B                NC        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 71374071 34372070                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/12/2025                   1          C          A          C          A                CT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71374071 34372816                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/15/2025 2          B          B          B          B                CT        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70788679 34395563                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/12/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-12): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 78479955 34472283                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/19/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77121678 34322965                         Credit     Hazard         Insufficient   Hazard         The Hazard Insurance Policy effective date is Hazard Insurance Policy Effective Date ___;          The Hazard Insurance Policy Effective Date of XX/XX/XX.   Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/30/2025 2          C          B          C          B                NV        Investment Purchase                              N/A    No
                                                                                                 Insurance      Coverage       Insurance      after the funds disbursed.                    Disbursement Date: ___; Note Date: ___; Transaction                                                            exceed the amount required based on the guidelines by at                                    (2025-09-30): XXXXX
                                                                                                                                                                                            Date: ___                                                                                                      least 4 months.                                                        SitusAMC

                                                                                                                                                                                                                                                                                                           Borrowers made a down payment from their own funds on                  SitusAMC             Seller Comment (2025-
                                                                                                                                                                                                                                                                                                           this purchase transaction of at least 5% and $5,000.00.                                     09-24): XXXXX

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.                                                              Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 77121678 34357923                         Credit     Guideline      Guideline      Guideline      Minimum of 600 square feet of gross living                                                         Unit two and three are less than 600 square feet and do   Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/09/2025 2          C          B          C          B                NV        Investment Purchase                              N/A    No
                                                                                                                Issue                         area required per company guidelines.                                                              not meet guidelines.                                      exceed the amount required based on the guidelines by at                                    (2025-09-09): XXXXX
                                                                                                                                                                                                                                                                                                           least 4 months.                                                        SitusAMC

                                                                                                                                                                                                                                                                                                           Borrowers made a down payment from their own funds on                  SitusAMC             Seller Comment (2025-
                                                                                                                                                                                                                                                                                                           this purchase transaction of at least 5% and $5,000.00.                                     09-08): XXXXX

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 70230960 34537277                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/29/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75544412 34276176                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/29/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77182809 34682506                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77182809 34683010                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/13/2025 2          B          B          B          B                MO        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73503712 34689728                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/15/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73503712 34712502                         Credit     Missing        General        Missing        Missing Document: Lease Agreement not                                                              Rent from lease used to qualify, but lease is missing                                                                                                 Reviewer Comment      10/15/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       provided                                                                                           from file. Only the lease addendum was provided and the                                                                                               (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 rent amount on the lease addendum is blank.                                                                                                                                                                                                                                                Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 71051721 34482130                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/25/2025                   1          D          A          D          A                FL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 71051721 34529772                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    e does not contain documentation from lender/seller                                                                                                   Reviewer Comment      09/29/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              confirming the condo is warrantable.                                                                                                                  (2025-09-29): XXXXX
                                                                                                                                              warrantable.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 76150228 34413488                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/17/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 73530291 34491347                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/23/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75143911 34498265                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75143911 34502818                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/25/2025 2          B          B          B          B                NC        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 78983566 34540324                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible Mortgage loan contains an impermissible prepayment                                                                                                    Reviewer Comment                        10/01/2025 2          B          B          B          B                MD        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum  penalty; however Note or Prepay Addendum provides                                                                                                     (2025-10-01): XXXXX
                                                                                                                                                                                            provides specific language that prepayment penalty   specific language that prepayment penalty will not exceed
                                                                                                                                                                                            will not exceed maximum permitted by applicable law. maximum permitted by applicable law.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 70604432 34277489                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/28/2025 2          B          B          B          B                LA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70604432 34277533                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      09/24/2025                   1          C          A          C          A                LA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-09-24): XXXXX
                                                                                                                                                                                                                                                 impact the business.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 70604432 34277570                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $0.00 are                                                                                                     Reviewer Comment      09/24/2025                   1          C          A          C          A                LA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $$42,298.98.  Final                                                                                             (2025-09-24): XXXXX
                                                                                                                Analysis                                                                                                                         1008 reflects $77,121.03 verified, however, Missing
                                                                                                                                                                                                                                                 letter from company's XXX providing a statement
                                                                                                                                                                                                                                                 indicating withdrawal of the funds will not negatively                                                                                                Seller Comment (2025-
                                                                                                                                                                                                                                                 impact the business.                                                                                                                                  09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 70604432 34277622                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      09/24/2025                   1          C          A          C          A                LA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Assets not                                                                                                   (2025-09-24): XXXXX
                                                                                                                Guidelines                                                                                                                       considered since XXX letter mentioning withdrawal of the
                                                                                                                Discrepancy                                                                                                                      funds will not negatively impact the business is missing.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 77978879 34498326                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/26/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 76727192 34442211                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/19/2025                   1          C          A          C          A                NJ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 76684213 34516590                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77968141 34371952                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/11/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77968141 34373750                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the document require to                                                                                                Reviewer Comment      09/25/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           Confirm Initial Rate Lock Date.                                                                                                                       (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 77968141 34373754                         Credit     Title          Document Error Title          The Preliminary/Commitment does not reflect a                                                      The preliminary title report in file did not disclose the                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                                              coverage amount (no final title policy in                                                          amount of title insurance coverage.  Provide a copy of                                                                                                (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              file). Unable to determine if appropriate                                                          the final title policy or an addendum to the preliminary                                                                                                                                                                                                                                   Other
                                                                                                                                              coverage is provided.                                                                              report verifying title insurance of at least the loan
                                                                                                                                                                                                                                                 amount.                                                                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 76959632 34517161                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/29/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 76959632 34520305                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/29/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70829811 34428819                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/17/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70829811 34495664                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Evidence of receipt of appraisal three (3) business days                                                                                                                                      09/18/2025 2          B          B          B          B                GA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          prior to consummation was not in file.                                                                                                                                                                                                                                                     Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75017890 34674781                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/13/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74204564 34699968                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/20/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74204564 34700240                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $95,950.00 Provide                                                                                                    Reviewer Comment      10/17/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 supporting current coverage amount.
[redacted] [redacted] [redacted] [redacted] 74329175 34426438                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        09/25/2025 2          C          B          C          B                TX        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                           1.16 is                            (2025-09-25): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow                                                           greater than  Aggregator
                                                                                                                                                                                                                                                 analysis.                                                 The qualifying DSCR on the loan is greater than the      the minimum
                                                                                                                                                                                                                                                                                                           guideline minimum.                                       required DSCR                      Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                    of 1.00.                           09-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 74329175 34426449                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/23/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 74329175 34493301                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $44,938.04                                                                                               Reviewer Comment      09/25/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          is less than Cash From Borrower $60,341.46. Missing                                                                                                   (2025-09-25): XXXXX
                                                                                                                Analysis                                                                                                                         letter from company's XXX providing a statement
                                                                                                                                                                                                                                                 indicating withdrawal of the funds will not negatively
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow                                                                                              Buyer Comment (2025-
                                                                                                                                                                                                                                                 analysis.                                                                                                                                             09-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 74329175 34493306                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      09/25/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Missing letter                                                                                               (2025-09-25): XXXXX
                                                                                                                Guidelines                                                                                                                       from company's XXX providing a statement indicating
                                                                                                                Discrepancy                                                                                                                      withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.                                                                                               Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 73919215 34412826                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/16/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77184841 34526332                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/26/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74955033 34597110                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/03/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74955033 34600995                         Property   Property -     Appraisal      Property -     Missing Document: Appraisal was made "subject -                                                    Appraisal was made subject to and 442 is not in images.                                                                                               Reviewer Comment      10/09/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      to" and Form 1004D/442 was not provided.                                                                                                                                                                                                                 (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 74955033 34600999                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/03/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76493513 34530980                         Credit     Title          Document Error Title          The Preliminary/Commitment does not reflect a                                                      The preliminary title report in file did not disclose the                                                                                             Reviewer Comment      09/30/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                                                              coverage amount (no final title policy in                                                          amount of title insurance coverage. Provide a copy of the                                                                                             (2025-09-30): XXXXX
                                                                                                                                              file). Unable to determine if appropriate                                                          final title policy or an addendum to the preliminary
                                                                                                                                              coverage is provided.                                                                              report verifying title insurance of at least the loan
                                                                                                                                                                                                                                                 amount.                                                                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 74286994 34498118                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 74286994 34511530                         Credit     Loan Package   Application /  Loan Package   Missing Document: Corporate Resolution not                                                         Corporate Resolution document was missing on this file.                                                                                               Reviewer Comment      09/29/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-09-29): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 74286994 34511533                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          Operating Agreement was missing on this file.                                                                                                         Reviewer Comment      09/26/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-09-26): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 74286994 34511575                         Credit     Loan Package   Application /  Loan Package   Missing Document: Articles of                                                                      Business document was missing on this file.                                                                                                           Reviewer Comment      09/26/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Organization/Formation not provided                                                                                                                                                                                                                      (2025-09-26): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 74286994 34511586                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing a copy of Initial Rate Lock Date                                                                                                      Reviewer Comment      09/26/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-09-26): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 74286994 34511631                         Compliance Compliance     State          State Defect   XXXXX Prepayment Penalty                      XXXXX Prepayment Penalty: Maximum calculated prepay  Maximum calculated prepay of $18,400.00 exceeds the state                                                                                             Reviewer Comment                        10/01/2025 2          B          B          B          B                OH        Investment Refinance -                           N/A    No
                                                                                                                Compliance                                                                  of $18,400.00 exceeds the state maximum of 1% of the maximum of 1% of the original balance ($3,680.00). Prepay                                                                                             (2025-10-01): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            original balance ($3,680.00).  Prepay language       language states prepay will not exceed maximum permitted
                                                                                                                                                                                            states prepay will not exceed maximum permitted by   by applicable law.
                                                                                                                                                                                            applicable law.
[redacted] [redacted] [redacted] [redacted] 73264441 34472891                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/19/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70970568 34710389                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/20/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75936073 34676039                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/13/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74707030 34650654                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71012749 34607293                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/06/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76796705 34577137                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76932955 34400463                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      09/24/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          indicating withdrawal of the funds will not negatively                                                                                                (2025-09-24): XXXXX
                                                                                                                Analysis                                                                                                                         impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 76932955 34400589                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      09/24/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-09-24): XXXXX
                                                                                                                Guidelines                                                                                                                       impact the business OR meet XXXXX guidance for cash flow
                                                                                                                Discrepancy                                                                                                                      analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 76932955 34400871                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      09/24/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-09-24): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 76272392 34429700                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the document require to                                                                                                Reviewer Comment      09/22/2025                   1          C          A          C          A                GA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           Confirm Initial Rate Lock Date.                                                                                                                       (2025-09-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 76272392 34429715                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              The file was missing a copy of the last Closing                                                                                                       Reviewer Comment      09/26/2025                   1          C          A          C          A                GA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document                                                                                                          Disclosure dated within 60 days of closing.                                                                                                           (2025-09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 76272392 34429736                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof the disclosure was provided to                                                                                                                                     09/18/2025 2          B          B          B          B                GA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  the borrower(s) within 3 days of the application date.
                                                                                                                                                                                            disclosure to applicant within three (3) business
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 77728159 34450630                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate Lock rate date is not documented in file.                                                                                                Reviewer Comment      09/22/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 77728159 34450642                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing secondary valuation.                                                                                               Reviewer Comment      09/26/2025                   1          D          A          D          A                CA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    The provided CU and/or LCA provide relief.                                                                                                            (2025-09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 77728159 34450655                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain documentation confirming the condo                                                                                              Reviewer Comment      10/03/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              is warrantable.                                                                                                                                       (2025-10-03): XXXXX
                                                                                                                                              warrantable.
[redacted] [redacted] [redacted] [redacted] 77728159 34450698                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/19/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77728159 34450701                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        09/25/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.              minimum of 10 days.                                                                                                                                   (2025-09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 77728159 34495181                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            09/19/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 76541002 34526298                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/29/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 73758120 34339928                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing copy of Rate lock document.                                                                                                           Reviewer Comment      09/12/2025                   1          C          A          C          A                MN        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 77942992 34546078                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77942992 34547036                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/30/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77942992 34547067                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/03/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 77942992 34600845                         Credit     Guideline      Guideline      Guideline      Ineligible borrower per guidelines.                                                                Borrowers who have lived in a rent-free situation are     Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        10/03/2025 2          C          B          C          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                                                                                                                            ineligible. Per LOE in file borrower is living rent free. years.                                                                                      (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                                                                           Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                                                                           exceed the amount required based on the guidelines by at               SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           least 4 months.                                                                             10-02): XXXXX

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 77942992 34642467                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        10/03/2025 2                     B                     B                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  years.                                                                                      (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at               SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 77880735 34353639                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Subject has a legal non-conforming zoning.  Lender        The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        09/05/2025 2          C          B          C          B                MS        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 exception in file.                                        minimum by at least 40 points.                                                              (2025-09-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 77880735 34353648                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Business funds are being used to purchase the subject                                                                                                 Reviewer Comment      09/19/2025                   1          C          A          C          A                MS        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       property. Per guidelines Funds from a business account                                                                                                (2025-09-19): XXXXX
                                                                                                                Guidelines                                                                                                                       (if the Borrower is the sole owner (or other owner is
                                                                                                                Discrepancy                                                                                                                      non-borrowing spouse) of the company and the company's
                                                                                                                                                                                                                                                 XXX provides a statement indicating withdrawal of the                                                                                                 Seller Comment (2025-
                                                                                                                                                                                                                                                 funds will not negatively impact the business OR meet                                                                                                 09-17): XXXXX
                                                                                                                                                                                                                                                 XXXXX guidance for cash flow analysis) XXXXX be used for
                                                                                                                                                                                                                                                 down payment and reserves.  File is not documented with
                                                                                                                                                                                                                                                 either acceptable document therefore the funds were not                                                                                               Reviewer Comment
                                                                                                                                                                                                                                                 included as available assets.                                                                                                                         (2025-09-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-12): XXXXX
[redacted] [redacted] [redacted] [redacted] 77880735 34353655                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Business funds are being used to purchase the subject                                                                                                 Reviewer Comment      09/19/2025                   1          C          A          C          A                MS        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          property. Per guidelines Funds from a business account                                                                                                (2025-09-19): XXXXX
                                                                                                                Analysis                                                                                                                         (if the Borrower is the sole owner (or other owner is
                                                                                                                                                                                                                                                 non-borrowing spouse) of the company and the company's
                                                                                                                                                                                                                                                 XXX provides a statement indicating withdrawal of the                                                                                                 Seller Comment (2025-
                                                                                                                                                                                                                                                 funds will not negatively impact the business OR meet                                                                                                 09-17): XXXXX
                                                                                                                                                                                                                                                 XXXXX guidance for cash flow analysis) XXXXX be used for
                                                                                                                                                                                                                                                 down payment and reserves.  File is not documented with
                                                                                                                                                                                                                                                 either acceptable document therefore the funds were not                                                                                               Reviewer Comment
                                                                                                                                                                                                                                                 included as available assets.                                                                                                                         (2025-09-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-12): XXXXX
[redacted] [redacted] [redacted] [redacted] 77880735 34353656                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      XXX statement or cash flow analysis indicating withdrawal                                                                                             Reviewer Comment      09/19/2025                   1          C          A          C          A                MS        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       of the funds will not negatively impact the business is                                                                                               (2025-09-19): XXXXX
                                                                                                                                                                                                                                                 missing from file.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-12): XXXXX
[redacted] [redacted] [redacted] [redacted] 77650513 34518864                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/29/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 77650513 34518866                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/29/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 75523830 34225895                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      08/20/2025 2          B          B          B          B                WI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70749917 34482029                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/24/2025 2          B          B          B          B                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70749917 34482054                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock rate                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           date.                                                                                                                                                 (2025-09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 76189720 34372875                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/12/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77744982 34639078                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            10/07/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 76581419 34530952                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/29/2025 2          B          B          B          B                MI        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 73474850 34414619                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/16/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74382177 34674650                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing a copy of Initial Rate Lock Date                                                                                                      Reviewer Comment      10/20/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-10-20): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 74382177 34674673                         Credit     Loan Package   Closing /      Loan Package   Missing Document: Rider - PUD not provided                                                         Rider - PUD is missing in the file.                                                                                                                   Reviewer Comment      10/20/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                 Documentation  Title          Documentation                                                                                                                                                                                                                                                           (2025-10-20): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 71263469 34401632                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/15/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-15): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71263469 34404721                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Rate lock document is not provided in the file                                                                                                        Reviewer Comment      09/17/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-17): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 71263469 34404722                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/19/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-19): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71263469 34404740                         Credit     Compliance     Miscellaneous  Compliance     Patriot Act Disclosure is missing             -                                                    Patriot Act Disclosure Document is missing in the file.                                                                                               Reviewer Comment      09/17/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                                                                                                                                                                                                                                                                             (2025-09-17): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 71263469 34513285                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/19/2025 2                     B                     B                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-09-19): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   than the guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 78297336 34398165                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/15/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78297336 34401591                         Credit     Compliance     Miscellaneous  Compliance     Patriot Act Disclosure is missing             -                                                    The file was missing a copy of the Patriot Act Disclosure                                                                                             Reviewer Comment      09/17/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                                                                                                                                                                                                                                                                             (2025-09-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 78297336 34401606                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/19/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78297336 34401608                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the document require to                                                                                                Reviewer Comment      09/17/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           Confirm Initial Rate Lock Date.                                                                                                                       (2025-09-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 78297336 34513316                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/19/2025 2                     B                     B                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                 as secondary valuation.                                   minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 70181097 34401317                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing a copy of Initial Rate Lock Date                                                                                                      Reviewer Comment      09/17/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-09-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 70181097 34401321                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/19/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 70181097 34513347                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/19/2025 2                     B                     B                TX        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-09-19): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 71000221 34522394                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/26/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71000221 34522429                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated PITIA months reserves of 4.26 is less than     Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        10/31/2025 2          C          B          C          B                OH        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              Guideline PITIA months reserves of 6.00.                  this purchase transaction of at least 5% and $5,000.00.                                     (2025-10-31): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 79823249 34749545                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72456703 34531696                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        10/01/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.              minimum of 10 days.                                                                                                                                   (2025-10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 72456703 34590759                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof the disclosure was provided to                                                                                                                                     09/29/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  the borrower(s) within 3 days of the application date.
                                                                                                                                                                                            disclosure to applicant within three (3) business
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 76252772 34371808                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/12/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75691829 34364081                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/11/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75691829 34364214                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/12/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76079956 34659886                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/10/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75708262 34540013                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/29/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75708262 34540242                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/02/2025                   1          D          A          D          A                AZ        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 76715204 34519807                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73368881 34525822                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/29/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73368881 34530421                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/29/2025 2          B          B          B          B                TN        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 78788526 34598938                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/03/2025 2          B          B          B          B                NC        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 78991313 34710778                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/20/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71106766 34548850                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/09/2025                   1          C          A          C          A                IL        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-10-09): XXXXX
                                                                                                                                                                                                                                                 impact the business.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 71106766 34548858                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $0 are                                                                                                        Reviewer Comment      10/09/2025                   1          C          A          C          A                IL        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $17,424.91.  Final                                                                                              (2025-10-09): XXXXX
                                                                                                                Analysis                                                                                                                         1008 reflects $28,908.06 verified, however, unable to use
                                                                                                                                                                                                                                                 business funds $28,908.06 from XXXXX. XXX letter
                                                                                                                                                                                                                                                 indicating withdrawal of the funds will not negatively                                                                                                Seller Comment (2025-
                                                                                                                                                                                                                                                 impact the business is required.                                                                                                                      10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 71106766 34548877                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Verified assets in the amount of $0 are insufficient to                                                                                               Reviewer Comment      10/09/2025                   1          C          A          C          A                IL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       meet reserves requirement of $18,815.92.  Final 1008                                                                                                  (2025-10-09): XXXXX
                                                                                                                Guidelines                                                                                                                       reflects $28,908.06 verified, however, unable to use
                                                                                                                Discrepancy                                                                                                                      business funds $28,908.06 from XXXXX. XXX letter
                                                                                                                                                                                                                                                 indicating withdrawal of the funds will not negatively                                                                                                Seller Comment (2025-
                                                                                                                                                                                                                                                 impact the business is required.                                                                                                                      10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 74465574 34767077                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/27/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73981823 34767060                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/27/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76280945 34366869                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/16/2025                   1          D          A          D          A                VA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 76280945 34478872                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/16/2025 2                     B                     B                VA        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-09-16): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                            SitusAMC

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 78821856 34491760                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                CT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78821856 34492060                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    The file is missing documentation confirming the condo                                                                                                Reviewer Comment      10/01/2025                   1          C          A          C          A                CT        Investment Refinance -                           N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              project is warrantable.                                                                                                                               (2025-10-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              warrantable.                                                                                                                                                                                                                                                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 78821856 34539147                         Credit     Guideline      Guideline      Guideline      Ineligible borrower per guidelines.                                                                Borrowers who have lived in a rent-free situation are     Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/30/2025 2          C          B          C          B                CT        Investment Refinance -                           N/A    No
                                                                                                                Issue                                                                                                                            ineligible. Per LOE in file borrower is living rent free. exceed the amount required based on the guidelines by at                                    (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                           least 4 months.                                                        SitusAMC                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Reviewer Comment
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                                                 (2025-09-29): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 73058173 34517311                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                NV        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73058173 34519016                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/03/2025                   1          D          A          D          A                NV        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73058173 34642452                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        10/03/2025 2                     B                     B                NV        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  years.                                                                                      (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at               SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                            SitusAMC

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 73139154 34342236                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     Unable to determine compliance with timing           Unable to determine compliance with timing requirements                                                                                                                                       09/05/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      requirements due to missing Initial Loan Application due to missing Initial Loan Application Date.
                                                                                                                                                                                            Date.
[redacted] [redacted] [redacted] [redacted] 73139154 34342237                         Compliance Compliance     Federal        Missing        Missing Initial Loan Application              The initial loan application was missing from the    The initial loan application was missing from the loan                                                                                                Reviewer Comment                        09/10/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance     Application                                                  loan file.                                           file.                                                                                                                                                 (2025-09-10): XXXXX
                                                                                                                               Date
[redacted] [redacted] [redacted] [redacted] 73139154 34342238                         Compliance Compliance     Federal        Missing        Missing Initial Loan Application Testing      No evidence of application date located in file.     No evidence of application date located in file.                                                                                                      Reviewer Comment                        09/10/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance     Application                                                  Compliance tests were run using an application date  Compliance tests were run using an application date of                                                                                                (2025-09-10): XXXXX
                                                                                                                               Date                                                         of XX/XX/XX which is 1 months prior to consummation. XX/XX/XX which is 1 months prior to consummation. A
                                                                                                                                                                                            A lookback was performed to determine this           lookback was performed to determine this application date
                                                                                                                                                                                            application date using the following dates:          using the following dates: XX/XX/XX, XX/XX/XX, XX/XX/XX,
                                                                                                                                                                                            XX/XX/XX, XX/XX/XX, XX/XX/XX, XX/XX/XX, XX/XX/XX,    XX/XX/XX, XX/XX/XX, XX/XX/XX. Lookback testing performed
                                                                                                                                                                                            XX/XX/XX.  Lookback testing performed up to one of   up to one of the following: TRID start date, TIL/MDIA
                                                                                                                                                                                            the following: TRID start date, TIL/MDIA XXXXX start XXXXX start date, RESPA XXXXX start date, TIL/MDIA XXXXX
                                                                                                                                                                                            date, RESPA XXXXX start date,  TIL/MDIA XXXXX start  start date, LOS Application Date, Broker Application
                                                                                                                                                                                            date, LOS Application Date, Broker Application Date, Date, or six months prior to consummation.
                                                                                                                                                                                            or six months prior to consummation.
[redacted] [redacted] [redacted] [redacted] 73139154 34342242                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified assets in the amount of $70,808.94 are                                                                                                       Reviewer Comment      09/19/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet reserves requirement of $21,972.12.                                                                                              (2025-09-19): XXXXX
                                                                                                                Analysis                                                                                                                         Final 1008 does not reflect assets required or verified.
                                                                                                                                                                                                                                                 However, 6 months are required.
[redacted] [redacted] [redacted] [redacted] 73139154 34342247                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Rate Lock is missing.                                                                                                                                 Reviewer Comment      09/09/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 73139154 34342259                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Verified assets in the amount of $70,808.94 are                                                                                                       Reviewer Comment      09/19/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       insufficient to meet reserves requirement of $21,972.12.                                                                                              (2025-09-19): XXXXX
                                                                                                                Guidelines                                                                                                                       Final 1008 does not reflect assets required or verified.
                                                                                                                Discrepancy                                                                                                                      However, 6 months are required.
[redacted] [redacted] [redacted] [redacted] 73139154 34503179                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor                                                                                                                                                                                                  09/19/2025 2                     B                     B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal
                                                                                                                                                                                            disclosure to applicant within three (3) business
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 73139154 34503180                         Compliance Compliance     Federal        Missing        Initial Loan Application - Signed and Dated   The initial loan application was not signed and                                                                                                                                                            Reviewer Comment                        09/19/2025 2                     B                     B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance     Application                                                  dated.                                                                                                                                                                                                     (2025-09-19): XXXXX
                                                                                                                               Date
[redacted] [redacted] [redacted] [redacted] 70837849 34498397                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70837849 34511947                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated PITIA months reserves of 3.81 is less than     The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        09/30/2025 2          C          B          C          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              Guideline PITIA months reserves of 6.00.                  minimum by at least 40 points.                                                              (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 71580729 34392166                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/15/2025 2          B          B          B          B                IN        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 73977384 34486097                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/23/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71812033 34577421                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71812033 34580728                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/01/2025 2          B          B          B          B                TN        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 78943097 34446153                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/18/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78943097 34447073                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/19/2025 2          B          B          B          B                GA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 75810161 34400999                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/15/2025                   1          C          A          C          A                OR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75810161 34401508                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Copy of Rate Lock is missing.                                                                                                                         Reviewer Comment      09/17/2025                   1          C          A          C          A                OR        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 75810161 34401541                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/16/2025 2          B          B          B          B                OR        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 75411796 34390586                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/15/2025                   1          C          A          C          A                RI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-15): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 75411796 34390634                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/16/2025 2          B          B          B          B                RI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.26                                                                                                                                                                                                                                                                                Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75411796 34390635                         Compliance Compliance     State          State Defect   XXXXX Prepayment Penalty NonPurchase Test     XXXXX Prepayment Penalty:  Non-purchase loan         Non-purchase loan contains a prepayment penalty which was                                                                                             Reviewer Comment                        09/25/2025 2          B          B          B          B                RI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                                                                  contains a prepayment penalty which was not          not disclosed to the borrower in writing.                                                                                                             (2025-09-25): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            disclosed to the borrower in writing.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 75417998 34673592                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/13/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76418513 34676057                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76418513 34676142                         Property   Valuation      Valuation      Valuation      The desk review has a effective date that is                                                       The Desk Review or Field Review effective date does not                                                                                               Reviewer Comment      10/24/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         other than what the appraisal effective date                                                       match the Appraisals effective date.                                                                                                                  (2025-10-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              is. The desk review should have the same                                                                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                              effective date as the appraisal
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 71655340 34650576                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77139385 34519059                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77139385 34519101                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/29/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 77139385 34519129                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/29/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            final title policy or an addendum to the preliminary                                                               be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 79203877 34539912                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/29/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 73057768 34698565                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/15/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73057768 34698908                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/14/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 73057768 34702808                         Credit     Loan Package   Application /  Loan Package   The Initial Application was not signed and                                                         Initial application not signed or dated.                                                                                                              Reviewer Comment      10/15/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  dated by the borrower, co-borrowers, and the                                                                                                                                                                                                             (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              lender.                                                                                                                                                                                                                                                                                                                                                                                       Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 73057768 34702827                         Compliance Compliance     Federal        Missing        Initial Loan Application - Signed and Dated   The initial loan application was not signed and      The initial loan application was not signed and dated.                                                                                                Reviewer Comment      10/15/2025                   1          B          A          B          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Application                                                  dated.                                                                                                                                                                                                     (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                               Date                                                                                                                                                                                                                                                                                                                                                                                                         Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 72199285 34637191                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75273025 34446465                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/18/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-18): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 79415699 34363887                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/10/2025                   1          C          A          C          A                KY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79415699 34366138                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Rate lock document.                                                                                                Reviewer Comment      09/12/2025                   1          C          A          C          A                KY        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 79415699 34366161                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $6,600.00 Provide updated                                                                                             Reviewer Comment      09/23/2025                   1          C          A          C          A                KY        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   policy reflecting minimum coverage of $XXXXX OR provide                                                                                               (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 copy of insurer's replacement cost estimate supporting                                                                                                                                                                                                                                     Other
                                                                                                                                                                                                                                                 current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 79415699 34366177                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the OFC document.                                                                                                      Reviewer Comment      09/12/2025                   1          C          A          C          A                KY        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-09-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 79415699 34402780                         Credit     Loan Package   Application /  Loan Package   Missing Document: Note Addendum - Prepayment                                                                                                                                                                                                             Reviewer Comment      09/12/2025                   1          C          A          C          A                KY        Investment Refinance -                           N/A    Yes
                                                                                                 Documentation  Processing     Documentation  not provided                                                                                                                                                                                                                                             (2025-09-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 70998242 34498041                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72728582 34527375                         Compliance Compliance     State          State Defect   XXXXX Prepayment Penalty Test                 XXXXX Prepayment Penalty: Loan prepay term of 24     Loan prepay term of 24 months exceeds state maximum of 12                                                                                             Reviewer Comment                        10/01/2025 2          B          B          B          B                RI        Investment Purchase                              N/A    No
                                                                                                                Compliance                                                                  months exceeds state maximum of 12 months.  Prepay   months. Prepay language states prepay will not exceed                                                                                                 (2025-10-01): XXXXX
                                                                                                                                                                                            language states prepay will not exceed maximum       maximum permitted by applicable law.
                                                                                                                                                                                            permitted by applicable law.
[redacted] [redacted] [redacted] [redacted] 72728582 34527386                         Compliance Loan Package   Closing /      Missing,       Missing Document: Note - Subject Lien not                                                          The file is missing a copy of Note - Subject Lien                                                                                                     Reviewer Comment      10/03/2025                   1          D          A          D          A                RI        Investment Purchase                              N/A    No
                                                                                                 Documentation  Title          Incorrect, or  provided                                                                                           Document.                                                                                                                                             (2025-10-03): XXXXX
                                                                                                                               Incomplete
                                                                                                                               Note
[redacted] [redacted] [redacted] [redacted] 72728582 34548789                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/29/2025 2          B          B          B          B                RI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71368185 34446956                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/19/2025 2          B          B          B          B                GA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71773997 34479965                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 73543126 34480548                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/23/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 73543126 34480549                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                              Reviewer Comment                        10/01/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                             (2025-10-01): XXXXX
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 73543126 34480550                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        10/01/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.              minimum of 10 days.                                                                                                                                   (2025-10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 78409261 34366087                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/11/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78409261 34367802                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the required OFAC                                                                                                      Reviewer Comment      09/16/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                    document.                                                                                                                                             (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 78409261 34367818                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing secondary valuation.                                                                                               Reviewer Comment      09/19/2025                   1          D          A          D          A                IL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    The provided CU and/or LCA provide relief.                                                                                                            (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78409261 34367832                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate Lock rate date is not documented in file.                                                                                                Reviewer Comment      09/16/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 78409261 34514255                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/19/2025 2                     B                     B                IL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                                                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 78409261 34514318                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Missing VOR for borrower's primary residence. Lease                                                                                                   Reviewer Comment      09/30/2025                   1                     A                     A                IL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 provided in file however missing 12 month payment                                                                                                     (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 history.                                                                                                                                                                                                                                                                                   Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 71205836 34537270                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/29/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-29): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71205836 34540277                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/03/2025 2          C          B          C          B                OK        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                                                              (2025-10-03): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 71205836 34540333                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for closing of $0.00 is less                                                                                             Reviewer Comment      10/03/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          than Cash From Borrower $21,013.48. Missing letter from                                                                                               (2025-10-03): XXXXX                                                                                                                  Rate/Term
                                                                                                                Analysis                                                                                                                         company's XXX providing a statement indicating withdrawal
                                                                                                                                                                                                                                                 of the funds will not negatively impact the business OR
                                                                                                                                                                                                                                                 meet XXXXX guidance for cash flow analysis.                                                                                                           Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 71205836 34540373                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      10/03/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Missing letter                                                                                               (2025-10-03): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                                                                       from company's XXX providing a statement indicating
                                                                                                                Discrepancy                                                                                                                      withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.                                                                                               Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 71205836 34540389                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/29/2025 2          B          B          B          B                OK        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71205836 34540391                         Compliance Compliance     Federal        Missing        Missing Initial Loan Application              The initial loan application was missing from the                                                                                                                                                          Reviewer Comment      09/30/2025                   1          B          A          B          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Application                                                  loan file.                                                                                                                                                                                                 (2025-09-30): XXXXX                                                                                                                  Rate/Term
                                                                                                                               Date

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 71205836 34540392                         Compliance Compliance     Federal        Missing        Missing Initial Loan Application Testing      No evidence of application date located in file.                                                                                                                                                           Reviewer Comment      10/03/2025                   1          B          A          B          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Application                                                  Compliance tests were run using an application date                                                                                                                                                        (2025-10-03): XXXXX                                                                                                                  Rate/Term
                                                                                                                               Date                                                         of XX/XX/XX which is 1 months prior to consummation.
                                                                                                                                                                                            A lookback was performed to determine this
                                                                                                                                                                                            application date using the following dates:                                                                                                                                                                Seller Comment (2025-
                                                                                                                                                                                            XX/XX/XX, XX/XX/XX, XX/XX/XX, XX/XX/XX, XX/XX/XX,                                                                                                                                                          10-02): XXXXX
                                                                                                                                                                                            XX/XX/XX, XX/XX/XX.  Lookback testing performed up
                                                                                                                                                                                            to one of the following: TRID start date, TIL/MDIA
                                                                                                                                                                                            XXXXX start date, RESPA XXXXX start date,  TIL/MDIA
                                                                                                                                                                                            XXXXX start date, LOS Application Date, Broker
                                                                                                                                                                                            Application Date, or six months prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71205836 34544566                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     Unable to determine compliance with timing                                                                                                                                                                                                         09/29/2025 2          B          B          B          B                OK        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      requirements due to missing Initial Loan Application                                                                                                                                                                                                                                                                                            Rate/Term
                                                                                                                                                                                            Date.
[redacted] [redacted] [redacted] [redacted] 71205836 34593678                         Credit     Guideline      Guideline      Guideline      Funds From Business Account used, and                                                              Lender used business funds for EMD and reserves, however  The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/03/2025 2          C          B          C          B                OK        Investment Refinance -                           N/A    No
                                                                                                                Issue                         borrower owns less than 100% of business.                                                          per guidelines borrower must be sole owner of the company minimum by at least 40 points.                                                              (2025-10-03): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 in order to use business funds for downpayment or
                                                                                                                                                                                                                                                 reserves. Per operating agreement in file borrower is not
                                                                                                                                                                                                                                                 sole owner of the business.                                                                                                                           Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 71205836 34702501                         Credit     Guideline      Guideline      Guideline      The number of financed properties exceeds                                                          DSCR guides allow for 20 financed properties, borrower    The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/15/2025 2                     B                     B                OK        Investment Refinance -                           N/A    No
                                                                                                                Issue                         guidelines.                                                                                        has 24.                                                   minimum by at least 40 points.                                                              (2025-10-15): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                                                                           exceed the amount required based on the guidelines by at
                                                                                                                                                                                                                                                                                                           least 4 months.
[redacted] [redacted] [redacted] [redacted] 71205836 34702517                         Credit     Missing        General        Missing        Incomplete Document: 1003 Final is incomplete                                                      Borrower has 24 financed properties, please provide                                                                                                   Reviewer Comment      10/15/2025                   1                     A                     A                OK        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                          updated 1003 properly reflecting all borrower owed REOs.                                                                                              (2025-10-15): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72254859 34471859                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                NV        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 72254859 34476231                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $5,000. Provide updated                                                                                               Reviewer Comment      09/24/2025                   1          C          A          C          A                NV        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   policy reflecting minimum coverage of $XXXXX OR provide                                                                                               (2025-09-24): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 copy of insurer's replacement cost estimate supporting
                                                                                                                                                                                                                                                 current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 75547925 34493508                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/24/2025 2          B          B          B          B                OR        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75547925 34493528                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Rate Lock is missing from file.                                                                                                                       Reviewer Comment      09/25/2025                   1          C          A          C          A                OR        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 74980260 34574660                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74980260 34574729                         Credit     Loan Package   Closing /      Missing        Missing Document: Security Instrument -                                                            Security Instrument - Subject Lien is missing                                                                                                         Reviewer Comment      10/01/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Document       Subject Lien not provided                                                                                                                                                                                                                                (2025-10-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 74980260 34574740                         Credit     Compliance     Miscellaneous  Compliance     Patriot Act Disclosure is missing             -                                                    Patriot Act Disclosure is missing                                                                                                                     Reviewer Comment      10/01/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                                                                                                                                                                                                                                                                             (2025-10-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 74980260 34574824                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/30/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71052429 34347563                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/09/2025                   1          C          A          C          A                CO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71052429 34347593                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing a copy of the "Right to Receive a                                                                                                                                        09/09/2025 2          B          B          B          B                CO        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  Copy" appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                   Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application date.                                                                                                                                                                                                                                                         Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 71052429 34347613                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock rate                                                                                             Reviewer Comment      09/17/2025                   1          C          A          C          A                CO        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           date.                                                                                                                                                 (2025-09-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79413356 34491519                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79413356 34491752                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/24/2025 2          B          B          B          B                NY        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79413356 34491753                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/24/2025 2          B          B          B          B                NY        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71025094 34498235                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                OR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71025094 34499287                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Evidence of Access to Funds is missing.                   The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        09/30/2025 2          C          B          C          B                OR        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       not provided                                                                                                                                                 minimum by at least 40 points.                                                              (2025-09-30): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 71025094 34499307                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.08 is less than                                                                                                 Reviewer Comment      09/30/2025                   1          C          A          C          A                OR        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-09-30): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 70172892 34363788                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/11/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70172892 34365660                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/19/2025                   1          D          A          D          A                AZ        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 70172892 34497189                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The Combined Loan to Value (CLTV) on the loan is less    The DSCR of   SitusAMC             Reviewer Comment                        09/18/2025 2                     B                     B                AZ        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  than the guideline maximum by at least 10%.              1.27 is                            (2025-09-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                               greater than  SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      The Loan to Value (LTV) on the loan is less than the     the minimum
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  guideline maximum by at least 10%.                       required DSCR Aggregator
                                                                                                                                                                                                                                                 as secondary valuation.                                                                                            of 1.0
                                                                                                                                                                                                                                                                                                           The qualifying DSCR on the loan is greater than the
                                                                                                                                                                                                                                                                                                           guideline minimum.
[redacted] [redacted] [redacted] [redacted] 74042431 34512530                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      File is missing Evidence of access to fund                Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        09/30/2025 2          C          B          C          B                TX        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                                                                                 this purchase transaction of at least 5% and $5,000.00.                                     (2025-09-30): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 74042431 34512552                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Loan to value          Calculated loan to value percentage of ___ exceeds   Calculated loan to value percentage of XXX% exceeds       Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        09/30/2025 2          C          B          C          B                TX        Investment Purchase                              N/A    No
                                                                                                 Mortgage       Program        Mortgage       discrepancy.                                  Guideline loan to value percentage of ___.           Guideline loan to value percentage of 70.00000%.          this purchase transaction of at least 5% and $5,000.00.                                     (2025-09-30): XXXXX
                                                                                                 Eligibility    Eligibility    Eligibility                                                                                                                                                                                                                                        SitusAMC
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 74042431 34512553                         Credit     Credit         AUS            Guideline      Guideline Requirement: Combined loan to value Calculated combined loan to value percentage of ___  Calculated combined loan to value percentage of XXX%      Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        09/30/2025 2          C          B          C          B                TX        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  exceeds Guideline combined loan to value percentage  exceeds Guideline combined loan to value percentage of    this purchase transaction of at least 5% and $5,000.00.                                     (2025-09-30): XXXXX
                                                                                                                Guidelines                                                                  of ___.                                              70.00000%.                                                                                                                       SitusAMC
                                                                                                                Discrepancy                                                                                                                                                                                The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 74042431 34512554                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 2.26 is less than                                                                                                 Reviewer Comment      09/30/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00                                                                                                               (2025-09-30): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 75518828 34372410                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/11/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73743519 34498279                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/26/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73743519 34498413                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/25/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 74120943 34696081                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/16/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71790158 34674057                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/13/2025                   1          C          A          C          A                LA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75131400 34697078                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/17/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75131400 34697610                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                    Reviewer Comment                        10/23/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to consumer.                                                                                                                     (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            disclosure to consumer.                                                                                                                                                                                                                                                                                                                         Other
[redacted] [redacted] [redacted] [redacted] 75131400 34726505                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Rate Lock agreement not provided                                                                                                                      Reviewer Comment      10/16/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78445015 34580630                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/01/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71592629 34960142                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/18/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71592629 34960863                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/17/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77328164 34472288                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/22/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 74919149 34488971                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74919149 34489134                         Property   Valuation      Valuation      Valuation      The desk review has a effective date that is                                                       The Desk Review or Field Review effective date does not                                                                                               Reviewer Comment      10/08/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         other than what the appraisal effective date                                                       match the Appraisals effective date                                                                                                                   (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              is. The desk review should have the same                                                                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                              effective date as the appraisal
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 74919149 34489142                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/23/2025 2          B          B          B          B                PA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 73775971 34687919                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/15/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76265531 34784867                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/29/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77327326 34446870                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/18/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77327326 34447877                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/22/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            final title policy or an addendum to the preliminary                                                               be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 77327326 34447880                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the OFAC.                                                                                                              Reviewer Comment      09/30/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 77327326 34447893                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated Available for Reserves of 5.66 is less than                                                                                                Reviewer Comment      09/25/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline Available for Reserves of 6.00.                                                                                                             (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 79880129 34550239                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                KY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77008129 34447669                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/08/2025                   1          C          A          C          A                VA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-10-08): XXXXX
                                                                                                                Guidelines                                                                                                                       impact the business OR meet XXXXX guidance for cash flow
                                                                                                                Discrepancy                                                                                                                      analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 77008129 34447671                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/08/2025                   1          C          A          C          A                VA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          indicating withdrawal of the funds will not negatively                                                                                                (2025-10-08): XXXXX
                                                                                                                Analysis                                                                                                                         impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 77008129 34491645                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/08/2025                   1          C          A          C          A                VA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-10-08): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 79976198 34636114                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79976198 34640807                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of OFAC report.                                                                                                           Reviewer Comment      10/14/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 74532786 34397988                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/15/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74532786 34398035                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $20,088.54. Provide                                                                                                   Reviewer Comment      10/08/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 supporting current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 75906675 34591120                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73960280 34580168                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79996270 34500063                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79717066 34426932                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/18/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74231684 34367628                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/11/2025                   1          C          A          C          A                ME        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74231684 34367677                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The title report in file disclosed an amount of title     Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/12/2025 2          B          B          B          B                ME        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              insurance coverage that is less than the loan amount.     document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 Provide a copy of the final title policy or an addendum                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 to the report verifying title insurance of at least the                                                            as a trailing
                                                                                                                                                                                                                                                 loan amount.                                                                                                       document
[redacted] [redacted] [redacted] [redacted] 74231684 34413779                         Credit     Loan Package   Application /  Missing        Missing Document: Approval not provided                                                            File is missing a copy of the loan approval.                                                                                                          Reviewer Comment      09/15/2025                   1          C          A          C          A                ME        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                                                                                                                                                                                (2025-09-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 71667185 34550933                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72567043 34499205                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70508320 34653742                         Credit     Missing        General        Missing        Missing Document: Rider - Acknowledgment and                                                       The file was missing a copy of the Rider-Acknowledgment                                                                                               Reviewer Comment      10/10/2025                   1          C          A          C          A                GA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       Waiver of Borrower's Rights not provided                                                           and waiver of borrower's rights.                                                                                                                      (2025-10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 70508320 34689939                         Credit     Guideline      Guideline      Guideline      Loan does not meet guideline requirements                                                          Lender approved exception in file.                        The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/10/2025 2          C          B          C          B                GA        Investment Purchase                              N/A    No
                                                                                                                Issue                         regarding non-arm's length investment                                                                                                                        minimum by at least 40 points.                                                              (2025-10-10): XXXXX
                                                                                                                                              property transactions.

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 74683329 34690120                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/13/2025 2          B          B          B          B                CT        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74683329 34690121                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/13/2025 2          B          B          B          B                CT        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74683329 34690167                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing a copy of Initial Rate Lock Date                                                                                                      Reviewer Comment      10/16/2025                   1          C          A          C          A                CT        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 73680374 34492408                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/24/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74279558 34525645                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/26/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76812455 34661921                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/10/2025                   1          C          A          C          A                MN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75295411 34547700                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77516102 34365929                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/12/2025 2          B          B          B          B                NC        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77516102 34365955                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated Available for Reserves of 5.51 is less than    Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        09/19/2025 2          C          B          C          B                NC        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              Guideline Available for Reserves of  6.Need More Assets   this purchase transaction of at least 5% and $5,000.00.                                     (2025-09-19): XXXXX
                                                                                                                Guidelines                                                                                                                       for the Reserve Requirement.                                                                                                     SitusAMC
                                                                                                                Discrepancy                                                                                                                                                                                The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.                                                              Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 73445221 34472106                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/23/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75798926 34598630                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/03/2025 2          B          B          B          B                IL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72352042 34517276                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77145026 34430756                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/18/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 72274704 34398631                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/16/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77543200 34589538                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75735292 34348087                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           File is missing a XXX Letter or Cash Flow Analysis                                                                                                    Reviewer Comment      10/15/2025                   1          C          A          C          A                IL        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          verifying that use of Business Funds will not harm the                                                                                                (2025-10-15): XXXXX
                                                                                                                Analysis                                                                                                                         Business.

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 75735292 34348091                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      File is missing a XXX Letter or Cash Flow Analysis        The qualifying DSCR on the loan is greater than the      The DSCR of   SitusAMC,Aggregator  Reviewer Comment                        01/28/2026 2          C          B          C          B                IL        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       verifying that use of Business Funds will not harm the    guideline minimum.                                       1.02 is                            (2025-10-10): XXXXX
                                                                                                                                                                                                                                                 Business.                                                                                                          greater than
                                                                                                                                                                                                                                                                                                                                                                    the minimum
                                                                                                                                                                                                                                                                                                                                                                    required DSCR                      Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                    of 1.00                            10-08): XXXXX
                                                                                                                                                                                                                                                                                                                                                                    .

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 79935556 34577737                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75675771 34687850                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/15/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75675771 34688666                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              The file was missing a copy of the HUD/ CD / Closing                                                                                                  Reviewer Comment      10/30/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                          Statement .                                                                                                                                           (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 75675771 34688668                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock                                                                                                  Reviewer Comment      10/15/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           Document.                                                                                                                                             (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75675771 34688745                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75675771 34688746                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                    Reviewer Comment                        10/16/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to consumer.                                                                                                                     (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            disclosure to consumer.                                                                                                                                                                                                                                                                                                                         Other
[redacted] [redacted] [redacted] [redacted] 75675771 34688747                         Compliance Compliance     Federal        TRID Defect    Missing Closing Disclosure:  No Document Used Missing Final Closing Disclosure. No document        No document containing fees provided. Any applicable                                                                                                  Reviewer Comment      10/30/2025                   1          D          A          D          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    For Fee Testing                               containing fees provided. Any applicable Federal,    Federal, State or Local compliance testing is unreliable.                                                                                             (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            State or Local compliance testing is unreliable.                                                                                                                                                                                                                                                                                                Other
[redacted] [redacted] [redacted] [redacted] 75675771 34688774                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated Available for Reserves of 0.00 is less than                                                                                                Reviewer Comment      10/30/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline Available for Reserves of 6.                                                                                                                (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 75675771 34688775                         Credit     Credit         AUS            Guideline      Guideline Requirement: Total cash-out                                                              HUD-1 total cash-out of is greater than Guideline total                                                                                               Reviewer Comment      10/30/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       cash-out of $5,000.00.                                                                                                                                (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 75397820 34549256                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Loan to value                                                               Calculated loan to value percentage of XXX% exceeds                                                                                                   Reviewer Comment      10/06/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                 Mortgage       Program        Mortgage       discrepancy.                                                                                       Guideline loan to value percentage of 70.00000%. Due to                                                                                               (2025-10-06): XXXXX
                                                                                                 Eligibility    Eligibility    Eligibility                                                                                                       less than 1.0 DSCR.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 75397820 34549257                         Credit     Credit         AUS            Guideline      Guideline Requirement: Combined loan to value                                                      Calculated combined loan to value percentage of XXX%                                                                                                  Reviewer Comment      10/06/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       exceeds Guideline combined loan to value percentage of                                                                                                (2025-10-06): XXXXX
                                                                                                                Guidelines                                                                                                                       70.00000%. Due to less than 1.0 DSCR.
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 77382037 34412253                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/16/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77382037 34412268                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/17/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77382037 34412269                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing a copy of the Right to Receive a                                                                                                 Reviewer Comment                        09/25/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  Copy appraisal.                                                                                                                                       (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            disclosure to consumer.                                                                                                                                                                                                                                                                                                                         Other
[redacted] [redacted] [redacted] [redacted] 77382037 34412301                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the rate lock document.                                                                                                Reviewer Comment      09/24/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 79528327 34641872                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/07/2025 2          B          B          B          B                TN        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided.
                                                                                                                                                                                            disclosure to applicant within three (3) business
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 72457082 34577074                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                NV        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79757485 34728074                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74890846 34444531                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      09/25/2025                   1          C          A          C          A                MO        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-09-25): XXXXX
                                                                                                                Guidelines                                                                                                                       impact the business OR meet XXXXX guidance for cash flow
                                                                                                                Discrepancy                                                                                                                      analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 74890846 34444532                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      09/25/2025                   1          C          A          C          A                MO        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          indicating withdrawal of the funds will not negatively                                                                                                (2025-09-25): XXXXX
                                                                                                                Analysis                                                                                                                         impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 74890846 34491621                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      09/25/2025                   1          C          A          C          A                MO        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-09-25): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 78933676 34636778                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                KY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76817647 34546679                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72759511 34415447                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/16/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72759511 34415777                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible Mortgage loan contains an impermissible prepayment                                                                                                    Reviewer Comment                        09/25/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum  penalty; however Note or Prepay Addendum provides                                                                                                     (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            provides specific language that prepayment penalty   specific language that prepayment penalty will not exceed                                                                                                                                                                                                                                  Other
                                                                                                                                                                                            will not exceed maximum permitted by applicable law. maximum permitted by applicable law.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 72759511 34415791                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/18/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 74064635 34580166                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                NV        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71371407 34402946                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 5.31 is less than                                                                                                 Reviewer Comment      09/19/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-09-19): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 74798952 34516997                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73790691 34391071                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/15/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73790691 34393474                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/16/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 71630837 34427046                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/18/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78142671 34471853                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/23/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78142671 34473336                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/22/2025 2          B          B          B          B                UT        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74294508 34761417                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79350146 34777289                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/28/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79350146 34778242                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/24/2025 2          B          B          B          B                AR        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 73275597 34777848                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/28/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72494427 34730257                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79801964 34517147                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74818546 34596094                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/03/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75981555 34449213                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/18/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77999061 34546673                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77928984 34605279                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/07/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78455338 34448532                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/22/2025 2          B          B          B          B                MO        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78686745 34549230                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71355818 34636274                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                NJ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71355818 34640966                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification revised appraisal was delivered to borrower                                                                                                                                      10/08/2025 2          B          B          B          B                NJ        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          was not provided.                                                                                                                                                                                                                                                                          Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71355818 34640967                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification original appraisal was delivered to borrower                                                                                                                                     10/08/2025 2          B          B          B          B                NJ        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          was not provided.                                                                                                                                                                                                                                                                          Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79621072 34449961                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/23/2025                   1          D          A          D          A                MI        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 79621072 34533609                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/23/2025 2                     B                     B                MI        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-09-23): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 75883728 34492226                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75883728 34494990                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/25/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 72517868 34710356                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/20/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77410145 34629749                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/08/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73736095 34690239                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/13/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74300717 34577334                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74635505 34430279                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/18/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74635505 34430417                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/23/2025                   1          D          A          D          A                PA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 77870901 34540370                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/30/2025 2          B          B          B          B                KY        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70415214 34340866                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/19/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 70415214 34343412                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The Preliminary title policy missing proposed policy      Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/05/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount.                                                   document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                                                                                                                                               be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                                                                                                                                           as a trailing
                                                                                                                                              is provided.                                                                                                                                                                                                          document
[redacted] [redacted] [redacted] [redacted] 79350988 34912116                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof the appraisal disclosure was                                                                                                                                       11/07/2025 2          B          B          B          B                MD        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided to the borrower(s) within 3 days of the
                                                                                                                                                                                            disclosure to applicant within three (3) business    application date.
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 79350988 34912186                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missing a copy of Initial Rate Lock rate.                                                                                                 Reviewer Comment      11/11/2025                   1          C          A          C          A                MD        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 79350988 34912201                         Credit     Missing        General        Missing        Missing Document: 1007 Rent Comparison                                                             The file is missing a copy of 1007 Rent Comparison                                                                                                    Reviewer Comment      11/11/2025                   1          C          A          C          A                MD        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       Schedule not provided                                                                              Schedule.                                                                                                                                             (2025-11-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 79350988 34915003                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 4.02 is less than                                                                                                 Reviewer Comment      11/12/2025                   1          C          A          C          A                MD        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Missing letter                                                                                               (2025-11-12): XXXXX
                                                                                                                Guidelines                                                                                                                       from company's XXX providing a statement indicating
                                                                                                                Discrepancy                                                                                                                      withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 79350988 34915075                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      11/12/2025                   1          C          A          C          A                MD        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-11-12): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 72526905 34659929                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of Rate lock document.                                                                                                    Reviewer Comment      10/10/2025                   1          C          A          C          A                TN        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 72526905 34659939                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the OFAC document.                                                                                                     Reviewer Comment      10/10/2025                   1          C          A          C          A                TN        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 72526905 34659942                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/17/2025                   1          C          A          C          A                TN        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-10-17): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 72526905 34659947                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/10/2025                   1          D          A          D          A                TN        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 72526905 34659969                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of 1,450.00 are                                                                                                  Reviewer Comment      10/17/2025                   1          C          A          C          A                TN        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $$43,974.34.  Final                                                                                             (2025-10-17): XXXXX
                                                                                                                Analysis                                                                                                                         1008 reflects $134,330.00 verified.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 72526905 34659993                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated Available for Reserves of 0.00 is less than                                                                                                Reviewer Comment      10/17/2025                   1          C          A          C          A                TN        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline Available for Reserves of 6.                                                                                                                (2025-10-17): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 72526905 34704834                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        10/10/2025 2                     B                     B                TN        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                           1.30 is                            (2025-10-10): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                               greater than  Aggregator
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      The qualifying DSCR on the loan is greater than the      the minimum
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  guideline minimum.                                       required DSCR
                                                                                                                                                                                                                                                 as secondary valuation.                                                                                            of 1.0
[redacted] [redacted] [redacted] [redacted] 73000469 34395650                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/16/2025 2          B          B          B          B                OK        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73000469 34395691                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missing a copy of Initial rate lock                                                                                                       Reviewer Comment      09/17/2025                   1          C          A          C          A                OK        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           agreement.                                                                                                                                            (2025-09-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 73000469 34395696                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/19/2025                   1          D          A          D          A                OK        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 73000469 34514561                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        09/19/2025 2                     B                     B                OK        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                           1.37 is                            (2025-09-19): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                               greater than  SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and       the minimum
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at required DSCR Aggregator
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.                                          of 1.0

                                                                                                                                                                                                                                                                                                           The qualifying DSCR on the loan is greater than the
                                                                                                                                                                                                                                                                                                           guideline minimum.
[redacted] [redacted] [redacted] [redacted] 78982814 34546722                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 73940035 34521929                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/26/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71293146 34431052                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/25/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 71293146 34475404                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated PITIA months reserves of 1.59 is less than     The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        09/25/2025 2          C          B          C          B                TX        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              Guideline PITIA months reserves of 6.00.                  minimum by at least 40 points.                           1.15 is                            (2025-09-25): XXXXX
                                                                                                                Guidelines                                                                                                                                                                                                                                          greater than  Aggregator
                                                                                                                Discrepancy                                                                                                                                                                                The qualifying DSCR on the loan is greater than the      the minimum
                                                                                                                                                                                                                                                                                                           guideline minimum.                                       required DSCR                      Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                    of 1.00.                           09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 79485691 34784492                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/29/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-29): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 79485691 34784825                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      11/03/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-11-03): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
[redacted] [redacted] [redacted] [redacted] 79485691 34784830                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Available for Closing is insufficient to cover Cash From                                                                                              Reviewer Comment      11/03/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          Borrower. Documented qualifying Assets for Closing of                                                                                                 (2025-11-03): XXXXX                                                                                                                  Rate/Term
                                                                                                                Analysis                                                                                                                         $0.00 is less than Cash From Borrower $3,259.27. Please
                                                                                                                                                                                                                                                 Provide additional assets.
[redacted] [redacted] [redacted] [redacted] 79485691 34786065                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      11/03/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-11-03): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 74160166 34446082                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/19/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74160166 34446881                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/19/2025 2          B          B          B          B                PA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 74531812 34516685                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/26/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70449386 34577524                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70449386 34577807                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/01/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 70025411 34427822                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/17/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70025411 34431229                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/18/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74464511 34471921                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/19/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74464511 34471987                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/23/2025 2          B          B          B          B                GA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 74464511 34472005                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/23/2025 2          B          B          B          B                GA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 76056730 34711484                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/17/2025                   1          C          A          C          A                IL        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-10-17): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 76056730 34711515                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $0 are                                                                                                        Reviewer Comment      10/17/2025                   1          C          A          C          A                IL        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $21,029.79.                                                                                                     (2025-10-17): XXXXX
                                                                                                                Analysis                                                                                                                         Business funds not adequately documented.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 76056730 34711560                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      10/17/2025                   1          C          A          C          A                IL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-10-17): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 77608224 34480331                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77608224 34481180                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible Mortgage loan contains an impermissible prepayment                                                                                                    Reviewer Comment                        09/23/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum  penalty; however, Note or Prepay Addendum provides                                                                                                    (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            provides specific language that prepayment penalty   specific language that prepayment penalty will not exceed                                                                                                                                                                                                                                  Other
                                                                                                                                                                                            will not exceed maximum permitted by applicable law. maximum permitted by applicable law.
[redacted] [redacted] [redacted] [redacted] 76953716 34551116                         Compliance Compliance     State          State Defect   XXXXX Prepayment Penalty                      XXXXX Prepayment Penalty: No prepayment penalties    No prepayment penalties are permissible in the state of                                                                                               Reviewer Comment                        10/08/2025 2          B          B          B          B                NJ        Investment Purchase                              N/A    No
                                                                                                                Compliance                                                                  are permissible in the state of XXXXX. Prepay        XXXXX. Prepay language states prepay will not exceed                                                                                                  (2025-10-08): XXXXX
                                                                                                                                                                                            language states prepay will not exceed maximum       maximum permitted by applicable law.
                                                                                                                                                                                            permitted by applicable law.
[redacted] [redacted] [redacted] [redacted] 76899843 34472726                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/23/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77922644 34577033                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79835857 34546788                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                NH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75538942 34577134                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75538942 34580156                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/01/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72700208 34491971                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/25/2025                   1          D          A          D          A                FL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 72700208 34491996                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain documentation confirming the condo                                                                                              Reviewer Comment      09/26/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              is warrantable.                                                                                                                                       (2025-09-26): XXXXX
                                                                                                                                              warrantable.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 78952276 34624361                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/07/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79366304 34482012                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                RI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79366304 34482031                         Compliance Compliance     State          State Defect   XXXXX Prepayment Penalty NonPurchase Test     XXXXX Prepayment Penalty:  Non-purchase loan         Non-purchase loan contains a prepayment penalty which was                                                                                             Reviewer Comment                        10/01/2025 2          B          B          B          B                RI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                                                                  contains a prepayment penalty which was not          not disclosed to the borrower in writing.                                                                                                             (2025-10-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            disclosed to the borrower in writing.                                                                                                                                                                                                                                                                                                           Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 79200381 34605136                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/06/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79200381 34605542                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/06/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 74405493 34750044                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/21/2025 2          B          B          B          B                CO        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74405493 34750336                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    The file is missing documentation confirming the condo                                                                                                Reviewer Comment      10/23/2025                   1          C          A          C          A                CO        Investment Purchase                              N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              project is warrantable.                                                                                                                               (2025-10-23): XXXXX
                                                                                                                                              warrantable.
[redacted] [redacted] [redacted] [redacted] 75432201 34605135                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/06/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74077386 34629766                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/08/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79030397 34761710                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                KS        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70798022 34654546                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76130182 34499659                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/26/2025                   1          D          A          D          A                CT        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 79781130 34762733                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/04/2025                   1          C          A          C          A                NH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-04): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 79781130 34845104                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Business funds used however there is no XXX letter                                                                                                    Reviewer Comment      11/06/2025                   1          C          A          C          A                NH        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       not provided                                                                                       stating, "there is no negative impact to the business if                                                                                              (2025-11-06): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 the funds are used from business account." Please provide
                                                                                                                                                                                                                                                 the XXX letter for review.
[redacted] [redacted] [redacted] [redacted] 79781130 34845128                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide a copy of each valuation to                                                                                                                                          11/03/2025 2          B          B          B          B                NH        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          applicant three (3) business days prior to consummation.                                                                                                                                                                                                                                   Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79781130 34845129                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            11/03/2025 2          B          B          B          B                NH        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Rate/Term
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 74777900 34687520                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71294943 34472902                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/24/2025                   1          D          A          D          A                FL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 77475418 34498687                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77475418 34515766                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Provided Prior to  ECOA Valuations Rule (Dodd-Frank XXXXX): Date                                                                                                                                                              Reviewer Comment                        10/01/2025 2          B          B          B          B                GA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Date Performed                                valuation provided to applicant is prior to the date                                                                                                                                                       (2025-10-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            when valuation was performed.  Unable to determine                                                                                                                                                                                                                                                                                              Other
                                                                                                                                                                                            compliance with appraisal timing requirements.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 76870110 34643648                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76870110 34643763                         Credit     Loan Package   Closing /      Missing        Missing Document: Security Instrument -                                                            Security Instrument is missing                                                                                                                        Reviewer Comment      10/09/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Document       Subject Lien not provided                                                                                                                                                                                                                                (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76870110 34643767                         Credit     Loan Package   Closing /      Loan Package   Missing Document: Rider - PUD not provided                                                         Rider - PUD is missing                                                                                                                                Reviewer Comment      10/09/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Documentation                                                                                                                                                                                                                                                           (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76886110 34496217                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/25/2025 2          B          B          B          B                CT        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79959955 34525528                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/29/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79959955 34525877                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/29/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 78005398 34689929                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The Preliminary title policy amount is missing proposed   Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/13/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           policy amount.                                            document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                                                                                                                                               be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                                                                                                                                           as a trailing
                                                                                                                                              is provided.                                                                                                                                                                                                          document
[redacted] [redacted] [redacted] [redacted] 75745233 34479849                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75745233 34485770                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/26/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 78909764 34650816                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78909764 34650838                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/27/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-10-27): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 78909764 34650876                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $2,000.00 are                                                                                                 Reviewer Comment      10/27/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $31,188.39.  Final                                                                                              (2025-10-27): XXXXX
                                                                                                                Analysis                                                                                                                         1008 reflects $181,686.09 verified.

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 78909764 34650893                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated Available for Reserves of 0.00 is less than                                                                                                Reviewer Comment      10/27/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline Available for Reserves of 6.00.                                                                                                             (2025-10-27): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 72887493 34471852                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/23/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72887493 34472071                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/30/2025                   1          D          A          D          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72887493 34603519                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/30/2025 2                     B                     B                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   than the guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 74089884 34491518                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78049908 34446760                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/18/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73460232 34605438                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/06/2025                   1          C          A          C          A                CT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73460232 34605697                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/07/2025                   1          D          A          D          A                CT        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73460232 34605732                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    The file is missing documentation confirming the condo                                                                                                Reviewer Comment      10/21/2025                   1          C          A          C          A                CT        Investment Refinance -                           N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              project is warrantable.                                                                                                                               (2025-10-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              warrantable.                                                                                                                                                                                                                                                                                                                                                                                  Other
[redacted] [redacted] [redacted] [redacted] 73460232 34667990                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/07/2025 2                     B                     B                CT        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   than the guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
[redacted] [redacted] [redacted] [redacted] 76814721 34491761                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                NV        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 76814721 34492780                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/30/2025                   1          D          A          D          A                NV        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for Securitization purpose.                                                                                                                  (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76814721 34603499                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        09/30/2025 2                     B                     B                NV        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  years.                                                                                      (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at               SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 72566565 34498276                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72566565 34498755                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/30/2025                   1          D          A          D          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72566565 34604287                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/30/2025 2                     B                     B                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                 as secondary valuation.                                   minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 73737205 34577257                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/03/2025                   1          D          A          D          A                NY        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 73737205 34577698                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $544,071.66                                                                                              Reviewer Comment      10/07/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          is less than Cash From Borrower $550,192.68.                                                                                                          (2025-10-07): XXXXX
                                                                                                                Analysis
[redacted] [redacted] [redacted] [redacted] 73737205 34577713                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      10/07/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-10-07): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 73737205 34577723                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing evidence the Borrower is the sole owner of the    Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        10/07/2025 2          C          B          C          B                NY        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       company and missing letter from company's XXX providing a this purchase transaction of at least 5% and $5,000.00.                                     (2025-10-07): XXXXX
                                                                                                                                                                                                                                                 statement indicating withdrawal of the funds will not                                                                            SitusAMC
                                                                                                                                                                                                                                                 negatively impact the business OR meet XXXXX guidance for The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                 cash flow analysis.                                       than the guideline maximum by at least 10%.                            SitusAMC             Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-03): XXXXX
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the                   SitusAMC
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline                                         10-02): XXXXX
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 73737205 34642453                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        10/03/2025 2                     B                     B                NY        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  this purchase transaction of at least 5% and $5,000.00.                                     (2025-10-03): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  than the guideline maximum by at least 10%.                            SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the                   SitusAMC
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 72856340 34732862                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/22/2025                   1          D          A          D          A                FL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 72856340 34775945                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per Guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/22/2025 2                     B                     B                FL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-10-22): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR a 2nd full appraisal. Lender provided CU score  The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                 as secondary valuation.                                   minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 77784135 34649157                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/15/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77784135 34649605                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77784135 34649641                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/14/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77784135 34727810                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        10/14/2025 2                     B                     B                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  years.                                                                                      (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at               SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 76616679 34517143                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/26/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76616679 34520690                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/26/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76616679 34520724                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/03/2025                   1          D          A          D          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76616679 34642455                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/06/2025 2                     B                     B                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   than the guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 75454308 34526242                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/29/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70013549 34588626                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/08/2025                   1          D          A          D          A                CA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 77430270 34475059                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/23/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78305907 34711074                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Lender Exception approving Condo project associated with  Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/17/2025 2          C          B          C          B                VA        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 the subject property to be a Condo conversion.            exceed the amount required based on the guidelines by at                                    (2025-10-17): XXXXX
                                                                                                                                                                                                                                                                                                           least 4 months.

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 76020125 34659535                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/10/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70759855 34491921                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $2,500 are                                                                                                    Reviewer Comment      10/09/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $30,015.15. Due to                                                                                              (2025-10-09): XXXXX
                                                                                                                Analysis                                                                                                                         business funds not being adequately documented.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 70759855 34491945                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $2,500.00 are                                                                                                 Reviewer Comment      10/09/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $30,015.15. Final                                                                                               (2025-10-09): XXXXX
                                                                                                                Analysis                                                                                                                         1008 reflects $70,258.29 verified, however, Business
                                                                                                                                                                                                                                                 funds excluded due to missing XXX Letter/Cash flow
                                                                                                                                                                                                                                                 Analysis Docs.                                                                                                                                        Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 70759855 34491960                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Business funds require a XXX letter confirming use of                                                                                                 Reviewer Comment      10/09/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       funds won't harm the business or a cashflow analysis                                                                                                  (2025-10-09): XXXXX
                                                                                                                                                                                                                                                 meeting XXXXX standards.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 70759855 34491998                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      10/09/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.  Final 1008                                                                                                  (2025-10-09): XXXXX
                                                                                                                Guidelines                                                                                                                       reflects $70,258.29 verified, however, Business funds
                                                                                                                Discrepancy                                                                                                                      excluded due to missing XXX Letter/Cash flow Analysis
                                                                                                                                                                                                                                                 Docs.                                                                                                                                                 Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 75612413 34891997                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/10/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75612413 34892041                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      11/06/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 75612413 34892042                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Borrower waived right to receive a copy of the appraisal                                                                                              Reviewer Comment                        11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   at least three (3) business days prior to closing, and                                                                                                (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and  appraisal was not provided at or before closing.                                                                                                                                                                                                                                           Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 75612413 34892045                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof the appraisal disclosure was                                                                                                                                       11/06/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided to the borrower(s) within 3 days of the                                                                                                                                                                                                                                           Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    application date.                                                                                                                                                                                                                                                                          Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 75612413 34892064                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.              minimum of 10 days.                                                                                                                                   (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75612413 34892142                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missing a copy of initial rate lock.                                                                                                      Reviewer Comment      11/10/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77285610 34597108                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/03/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77285610 34597180                         Property   Appraisal      Value          Appraisal      Loan is to be securitized. Highest level                                                           Loan is to be securitized. Highest level secondary                                                                                                    Reviewer Comment      10/11/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                 Reconciliation Discrepancy    Reconciliation secondary valuation does not support the                                                           valuation does not support the value used to qualify.                                                                                                 (2025-10-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              value used to qualify. Sec ID: 7                                                                                                                                                                                                                                                                                                                                                              Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 77285610 34597214                         Property   Valuation      Valuation      Valuation      The desk review has a effective date that is                                                       The Desk Review or Field Review effective date does not                                                                                               Reviewer Comment      10/11/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         other than what the appraisal effective date                                                       match the Appraisals effective date.                                                                                                                  (2025-10-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              is. The desk review should have the same                                                                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                              effective date as the appraisal
[redacted] [redacted] [redacted] [redacted] 78180640 34577138                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/03/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79576154 34515164                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79576154 34515228                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/25/2025 2          B          B          B          B                NY        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74737689 34660873                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2025 2          B          B          B          B                AL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74737689 34660948                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/10/2025                   1          D          A          D          A                AL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 74737689 34704893                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and       The DSCR of   SitusAMC             Reviewer Comment                        10/10/2025 2                     B                     B                AL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at 1.38 is                            (2025-10-10): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                          greater than  SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field                                                               the minimum
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The representative FICO score exceeds the guideline      required DSCR SitusAMC,Aggregator
                                                                                                                                                                                                                                                 as secondary valuation.                                   minimum by at least 40 points.                           of 1.0.

                                                                                                                                                                                                                                                                                                           The qualifying DSCR on the loan is greater than the
                                                                                                                                                                                                                                                                                                           guideline minimum.
[redacted] [redacted] [redacted] [redacted] 74808488 34597112                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/06/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74808488 34598860                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/10/2025                   1          D          A          D          A                NC        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 75739962 34763581                         Compliance Compliance     Federal        RESPA          Missing Final HUD-1 RESPA  Investment         RESPA:  Missing Final HUD-1 GFE used to source fees. Missing Final HUD-1 GFE used to source fees. Investment                                                                                               Reviewer Comment      10/27/2025                   1          B          A          B          A                CO        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Occupancy No Business Purpose Cert (Not       Investment occupancy witrh no business purpose cert  occupancy witrh no business purpose cert in file. Loan is                                                                                             (2025-10-27): XXXXX
                                                                                                                                              subject to APL)                               in file.  Loan is not subject to APL tests in scope  not subject to APL tests in scope requiring points and
                                                                                                                                                                                            requiring points and fees.                           fees.
[redacted] [redacted] [redacted] [redacted] 71740668 34589104                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification XXXXX was delivered to borrower was not                                                                                                                                          10/02/2025 2          B          B          B          B                IN        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71740668 34589162                         Property   Appraisal      Value          Appraisal      Loan is to be securitized. Highest level                                                           XXXXX value does not support the appraised value.                                                                                                     Reviewer Comment      10/17/2025                   1          C          A          C          A                IN        Investment Purchase                              N/A    No
                                                                                                 Reconciliation Discrepancy    Reconciliation secondary valuation does not support the                                                                                                                                                                                                                 (2025-10-17): XXXXX
                                                                                                                                              value used to qualify. Sec ID: 7

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 71740668 34589168                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of $5,523.61 is                                                                                              Reviewer Comment      10/22/2025                   1          C          A          C          A                IN        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          less than Cash from Borrower $56,451.53.  File is missing                                                                                             (2025-10-22): XXXXX
                                                                                                                Analysis                                                                                                                         XXXXX statement for acct ending in XXXXX as noted on the
                                                                                                                                                                                                                                                 file 1003.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 71740668 34589171                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      10/22/2025                   1          C          A          C          A                IN        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. File is missing                                                                                              (2025-10-22): XXXXX
                                                                                                                Guidelines                                                                                                                       PNC statement for acct ending in XXXXX as noted on the
                                                                                                                Discrepancy                                                                                                                      file 1003.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 74843137 34659761                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2025 2          B          B          B          B                MO        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 72125299 34762100                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72125299 34762218                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing a copy of right to receive appraisal                                                                                             Reviewer Comment                        10/30/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  disclosure.                                                                                                                                           (2025-10-30): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            disclosure to consumer.
[redacted] [redacted] [redacted] [redacted] 72125299 34762219                         Compliance Compliance     Federal        Missing Non-   Missing Final HUD-1 Not Subject to APL        Missing Final HUD-1:  No document containing points  The file was missing a copy of HUD document.                                                                                                          Reviewer Comment      11/07/2025                   1          A          A          A          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Required Data  Testing (Business Purpose Loan)               and fees provided.  Investment occupancy with                                                                                                                                                              (2025-11-07): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            business purpose cert in file.  Loan is not subject
                                                                                                                                                                                            to APL tests in scope requiring points and fees.
[redacted] [redacted] [redacted] [redacted] 72125299 34762222                         Credit     Loan Package   Application /  Loan Package   Missing Document: Employer Identification                                                          The file was missing a copy of employer identification                                                                                                Reviewer Comment      10/24/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Number (EIN) not provided                                                                          number (EIN).                                                                                                                                         (2025-10-24): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72125299 34762238                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of initial rate lock                                                                                                      Reviewer Comment      10/24/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-10-24): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72125299 34888090                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              Missing HUD/CD from subject property.                                                                                                                 Reviewer Comment      11/07/2025                   1                     A                     A                FL        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-07): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71513131 34664355                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2025 2          B          B          B          B                MD        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 71513131 34664417                         Property   Property -     Appraisal      Property -     Missing Document: Appraisal was made "subject -                                                    Appraisal was made subject to and 442 is not in images.                                                                                               Reviewer Comment      10/15/2025                   1          C          A          C          A                MD        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      to" and Form 1004D/442 was not provided.                                                                                                                                                                                                                 (2025-10-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 71428649 34699426                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/14/2025 2          B          B          B          B                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 78794289 34659888                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/10/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-10): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 75395249 34597211                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/06/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75395249 34598538                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/15/2025                   1          D          A          D          A                SC        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75097171 34626097                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/08/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71708327 34498188                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71708327 34499575                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate  Lock Agreement not provided                                                                                                             Reviewer Comment      09/26/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 71708327 34499606                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $24,300. Provide updated                                                                                              Reviewer Comment      10/01/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   policy reflecting minimum coverage of $XXXXX OR provide                                                                                               (2025-10-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 copy of insurer's replacement cost estimate supporting                                                                                                                                                                                                                                     Other
                                                                                                                                                                                                                                                 current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 72050434 34593741                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/03/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72050434 34593905                         Property   Property -     Appraisal      Property -     Missing Document: Appraisal was made "subject -                                                    Appraisals was made subject to and 442 is not in images                                                                                               Reviewer Comment      10/07/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      to" and Form 1004D/442 was not provided.                                                                                                                                                                                                                 (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70154037 34764187                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76036053 34678064                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78042509 34683018                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/15/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77300953 34480568                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/23/2025 2          B          B          B          B                MD        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 79221494 34699028                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/16/2025                   1          C          A          C          A                CT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79688615 34491516                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/24/2025                   1          C          A          C          A                VA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70541235 34751400                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73608252 34723613                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/31/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73608252 34723992                         Credit     Credit         Credit         Credit         There is no lease in place for the subject                                                         Lease Agreement is not available in file.                 Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/31/2025 2          C          B          C          B                NC        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 property and the absence of this document                                                                                                                    exceed the amount required based on the guidelines by at                                    (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              casts doubt on business purpose of loan.                                                                                                                     least 4 months.                                                        SitusAMC                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline                                         Reviewer Comment
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.                                                              (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 73608252 34724049                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/16/2025 2          B          B          B          B                NC        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74480208 34520428                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/26/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77177078 34716201                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77177078 34716416                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/15/2025 2          B          B          B          B                NY        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76219286 34549406                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76219286 34549591                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/30/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 76733751 34676224                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/13/2025 2          B          B          B          B                AR        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 73474379 34579246                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/03/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75342840 34537772                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/30/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70857463 34588446                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70857463 34591109                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Provided Prior to  ECOA Valuations Rule (Dodd-Frank XXXXX): Date        Verification appraisal was delivered to borrower was not                                                                                              Reviewer Comment                        10/08/2025 2          B          B          B          B                NY        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Date Performed                                valuation provided to applicant is prior to the date provided.                                                                                                                                             (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            when valuation was performed.  Unable to determine                                                                                                                                                                                                                                                                                              Other
                                                                                                                                                                                            compliance with appraisal timing requirements.
[redacted] [redacted] [redacted] [redacted] 76521613 34728790                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76516717 34793440                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock                                                                                                  Reviewer Comment      10/29/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           Document.                                                                                                                                             (2025-10-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 76516717 34793449                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/28/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76516717 34793450                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/28/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71191755 34537266                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/30/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72345582 34725200                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/17/2025                   1          C          A          C          A                VA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75561012 34651543                         Credit     Loan Package   Application /  Loan Package   Missing Document: Verification of                                                                  The file was missing a copy of the Verification of                                                                                                    Reviewer Comment      10/14/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  Identification not provided                                                                        Identification.                                                                                                                                       (2025-10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 75561012 34651549                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock rate                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           date.                                                                                                                                                 (2025-10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 75561012 34651555                         Credit     Compliance     Miscellaneous  Compliance     Patriot Act Disclosure is missing             -                                                    The file was missing a copy of the Patriot Act                                                                                                        Reviewer Comment      10/14/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                                                                                                                       Disclosure.                                                                                                                                           (2025-10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 75561012 34651579                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain documentation from lender/seller                                                                                                Reviewer Comment      10/14/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              confirming the condo is warrantable.                                                                                                                  (2025-10-14): XXXXX
                                                                                                                                              warrantable.
[redacted] [redacted] [redacted] [redacted] 75561012 34693170                         Credit     Business       General        Business       Verification of Borrower's identity is        -                                                    Missing verification of borrower's identity.                                                                                                          Reviewer Comment      10/14/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                 Purpose                       Purpose        missing.                                                                                                                                                                                                                                                 (2025-10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 73664421 34650186                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/15/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 75806550 34457543                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/22/2025                   1          C          A          C          A                NE        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75759497 34710258                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/17/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-17): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 75759497 34711999                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/15/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70189811 34518767                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 70189811 34520354                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        09/29/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 70820892 34660981                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible Mortgage loan contains an impermissible prepayment                                                                                                    Reviewer Comment                        10/16/2025 2          B          B          B          B                MD        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum  penalty; however Note or Prepay Addendum provides                                                                                                     (2025-10-16): XXXXX
                                                                                                                                                                                            provides specific language that prepayment penalty   specific language that prepayment penalty will not exceed
                                                                                                                                                                                            will not exceed maximum permitted by applicable law. maximum permitted by applicable law.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 70822613 34944426                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/19/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-19): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 70822613 34944614                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              The Final HUD or CD document is missing in the file.                                                                                                  Reviewer Comment      11/14/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-14): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 70822613 34944647                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate lock Document is not present in the file.                                                                                                Reviewer Comment      11/14/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-14): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 70822613 34944677                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70822613 34944679                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        11/20/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.              minimum of 10 days.                                                                                                                                   (2025-11-20): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 75465861 34547515                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75465861 34549680                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/30/2025 2          B          B          B          B                UT        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75465861 34549681                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            09/30/2025 2          B          B          B          B                UT        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien   lien status
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 75465861 34549682                         Compliance Compliance     Federal        Missing Non-   Missing Final HUD-1 Not Subject to APL        Missing Final HUD-1:  No document containing points  No document containing points and fees provided.                                                                                                      Reviewer Comment      10/07/2025                   1          A          A          A          A                UT        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Required Data  Testing (Business Purpose Loan)               and fees provided.  Investment occupancy with        Investment occupancy with business purpose cert in file.                                                                                              (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            business purpose cert in file.  Loan is not subject  Loan is not subject to APL tests in scope requiring                                                                                                                                                                                                                                        Other
                                                                                                                                                                                            to APL tests in scope requiring points and fees.     points and fees.
[redacted] [redacted] [redacted] [redacted] 75465861 34549760                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              File is missing HUD/CD document.                                                                                                                      Reviewer Comment      10/07/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75465861 34549779                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $22,600. Provide updated                                                                                              Reviewer Comment      10/01/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   policy reflecting minimum coverage of $XXXXX OR provide                                                                                               (2025-10-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 copy of insurer's replacement cost estimate supporting                                                                                                                                                                                                                                     Other
                                                                                                                                                                                                                                                 current coverage amount.
[redacted] [redacted] [redacted] [redacted] 75465861 34549910                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing Secondary Valuation.                                                                                               Reviewer Comment      10/13/2025                   1          D          A          D          A                UT        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    The provided CU and/or LCA provide relief.                                                                                                            (2025-10-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 75465861 34550365                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of is less than                                                                                                      Reviewer Comment      10/07/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 78285738 34771762                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Copy of Rate Lock is missing.                                                                                                                         Reviewer Comment      10/28/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 78285738 34771900                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            10/23/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 71004120 34808661                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/04/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71004120 34808684                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              HUD/CD docuement is missing                                                                                                                           Reviewer Comment      11/06/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71004120 34808723                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/29/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 71004120 34808724                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            10/29/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 71004120 34808725                         Compliance Compliance     Federal        Missing Non-   Missing Final HUD-1 Not Subject to APL        Missing Final HUD-1:  No document containing points  Missing Final HUD-1: No document containing points and                                                                                                Reviewer Comment      11/05/2025                   1          A          A          A          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Required Data  Testing (Business Purpose Loan)               and fees provided.  Investment occupancy with        fees provided. Investment occupancy with business purpose                                                                                             (2025-11-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            business purpose cert in file.  Loan is not subject  cert in file. Loan is not subject to APL tests in scope                                                                                                                                                                                                                                    Other
                                                                                                                                                                                            to APL tests in scope requiring points and fees.     requiring points and fees.
[redacted] [redacted] [redacted] [redacted] 71004120 34808726                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        11/06/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.              minimum of 10 day                                                                                                                                     (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77515204 34703739                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/17/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77515204 34703783                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/14/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72518041 34517974                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $1,000.00 are                                                                                                 Reviewer Comment      10/14/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $26,255.08.  Final                                                                                              (2025-10-14): XXXXX
                                                                                                                Analysis                                                                                                                         1008 reflects $92,201.11 verified, however, business
                                                                                                                                                                                                                                                 funds not being adequately documented. Due to missing XXX
                                                                                                                                                                                                                                                 letter or cash flow analysis for business funds.
[redacted] [redacted] [redacted] [redacted] 72518041 34518064                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      10/14/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Due to missing                                                                                               (2025-10-14): XXXXX
                                                                                                                Guidelines                                                                                                                       XXX letter or cash flow analysis for business funds.
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 72518041 34518108                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        10/14/2025 2          C          B          C          B                TX        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                           1.30 is                            (2025-10-14): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow                                                           greater than  Aggregator
                                                                                                                                                                                                                                                 analysis.                                                 The qualifying DSCR on the loan is greater than the      the minimum
                                                                                                                                                                                                                                                                                                           guideline minimum.                                       required DSCR
                                                                                                                                                                                                                                                                                                                                                                    of 1.0.
[redacted] [redacted] [redacted] [redacted] 72518041 34518242                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      09/30/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-09-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 72454048 34577531                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/03/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73507761 34775291                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/24/2025 2          B          B          B          B                ME        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73438207 34626776                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/07/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76343608 34729782                         Compliance Compliance     Federal        Missing        Notice of Special Flood Hazard Disclosure     FDPA Notification Rule: Creditor did not provide a   The file is missing copy of Flood insurance document.                                                                                                 Reviewer Comment      10/21/2025                   1          B          A          B          A                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance     Disclosure     Missing                                       Notice of Special Flood Hazard Disclosure for                                                                                                                                                              (2025-10-21): XXXXX
                                                                                                                                                                                            property located in a flood zone.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 76088973 34767219                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/28/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73050275 34680583                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $147,340.92                                                                                              Reviewer Comment      10/22/2025                   1          C          A          C          A                MA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          is less than Cash From Borrower $147,948.05.                                                                                                          (2025-10-22): XXXXX
                                                                                                                Analysis

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 71155691 34738743                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74696951 34675098                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            Hazard coverage is insufficient by $20,000.00.  Provide                                                                                               Reviewer Comment      10/28/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-10-28): XXXXX
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate
                                                                                                                                                                                                                                                 supporting current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 79183369 34650299                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2025 2          B          B          B          B                LA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73686681 34740568                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73686681 34743765                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/20/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            final title policy or an addendum to the preliminary                                                               be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 75278836 34650972                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/10/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75278836 34655680                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/09/2025 2          B          B          B          B                MO        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 76050449 34654979                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78175689 34607310                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/07/2025                   1          C          A          C          A                CO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78175689 34611891                         Property   Property -     Appraisal      Property -     Missing Document: Appraisal was made "subject -                                                    Appraisal was made subject to and 442 is not in images.                                                                                               Reviewer Comment      10/14/2025                   1          C          A          C          A                CO        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      to" and Form 1004D/442 was not provided.                                                                                                                                                                                                                 (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 71538193 34548810                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73204321 34803275                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/30/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73204321 34803921                         Credit     Loan Package   Application /  Loan Package   Missing Document: Articles of                                                                      The file is missing a copy of Articles of                                                                                                             Reviewer Comment      10/31/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Organization/Formation not provided                                                                Organization/Formation document.                                                                                                                      (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73204321 34803923                         Credit     Loan Package   Application /  Loan Package   Missing Document: Certificate of Good                                                              The file is missing a copy of Certificate of Good                                                                                                     Reviewer Comment      10/31/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Standing not provided                                                                              Standing Document.                                                                                                                                    (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77651464 34654286                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing a copy of Initial Rate Lock Date                                                                                                      Reviewer Comment      10/10/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 77651464 34691189                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        10/15/2025 2          C          B          C          B                CA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                           1.41 is                            (2025-10-15): XXXXX
                                                                                                                Guidelines                                                                                                                       impact the business OR documentation that meets XXXXX                                                              greater than  Aggregator
                                                                                                                Discrepancy                                                                                                                      guidance for cash flow analysis; therefore, business      The qualifying DSCR on the loan is greater than the      the minimum
                                                                                                                                                                                                                                                 funds were not included by review.  Further, per DSCR     guideline minimum.                                       required DSCR                      Reviewer Comment
                                                                                                                                                                                                                                                 guides, for a loan with an LTV of 80% a gift of 5% of                                                              of 1.00.                           (2025-10-14): XXXXX
                                                                                                                                                                                                                                                 purchase price is allowed.  File was submitted with total
                                                                                                                                                                                                                                                 gift funds of $XXXXX when only $XXXXX is allowed.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 77651464 34691213                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/14/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          indicating withdrawal of the funds will not negatively                                                                                                (2025-10-14): XXXXX
                                                                                                                Analysis                                                                                                                         impact the business OR documentation that meets XXXXX
                                                                                                                                                                                                                                                 guidance for cash flow analysis; therefore, business
                                                                                                                                                                                                                                                 funds were not included by review.  Further, per DSCR                                                                                                 Buyer Comment (2025-
                                                                                                                                                                                                                                                 guides, for a loan with an LTV of 80% a gift of 5% of                                                                                                 10-14): XXXXX
                                                                                                                                                                                                                                                 purchase price is allowed.  File was submitted with total
                                                                                                                                                                                                                                                 gift funds of $XXXXX when only $XXXXX is allowed.
[redacted] [redacted] [redacted] [redacted] 77651464 34691303                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        10/14/2025 2          C          B          C          B                CA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                           1.41 is                            (2025-10-14): XXXXX
                                                                                                                                                                                                                                                 impact the business OR documentation that meets XXXXX                                                              greater than  Aggregator
                                                                                                                                                                                                                                                 guidance for cash flow analysis.                          The qualifying DSCR on the loan is greater than the      the minimum
                                                                                                                                                                                                                                                                                                           guideline minimum.                                       required DSCR                      Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                    of 1.00.                           10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 76783162 34630347                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing a copy of the "Right to Receive a                                                                                                                                        10/07/2025 2          B          B          B          B                OR        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  Copy" appraisal disclosure to applicant within three (3)
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application date.
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 76783162 34630366                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: Property is located in a                                                      The property is located in FEMA Disaster area. Provide a                                                                                              Reviewer Comment      10/09/2025                   1          C          A          C          A                OR        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  FEMA Disaster area and has not been                                                                post-disaster inspection verifying there was no damage.                                                                                               (2025-10-09): XXXXX
                                                                                                                                              inspected.                                                                                         The inspection must include exterior photos, and the
                                                                                                                                                                                                                                                 property must be re-inspected on or after XX/XX/XX
                                                                                                                                                                                                                                                 declared end date.                                                                                                                                    Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 76783162 34630374                         Credit     Legal /        Title / Lien   Title          Title Policy is Preliminary or Commitment,                                                         The file was missing a copy of the final title policy.                                                                                                Reviewer Comment      10/09/2025                   1          A          A          A          A                OR        Investment Purchase                              N/A    No
                                                                                                 Regulatory /   Defect                        and not a Final Title Policy.                                                                                                                                                                                                                            (2025-10-09): XXXXX
                                                                                                 Compliance
[redacted] [redacted] [redacted] [redacted] 76783162 34630375                         Credit     Title          Document Error Title          The Preliminary/Commitment does not reflect a                                                      The preliminary title report in file did not disclose the                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                OR        Investment Purchase                              N/A    No
                                                                                                                                              coverage amount (no final title policy in                                                          amount of title insurance coverage. Provide a copy of the                                                                                             (2025-10-09): XXXXX
                                                                                                                                              file). Unable to determine if appropriate                                                          final title policy or an addendum to the preliminary
                                                                                                                                              coverage is provided.                                                                              report verifying title insurance of at least the loan
                                                                                                                                                                                                                                                 amount.                                                                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 76783162 34630379                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Appraisal is                                                            The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/09/2025                   1          D          A          D          A                OR        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      missing. Sec ID: 1                                                                                 required for securitization purposes.                                                                                                                 (2025-10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 76783162 34630402                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Debt Service Coverage  Calculated Debt Service Coverage Ratio (Subject                                                                The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/14/2025 2          C          B          C          B                OR        Investment Purchase                              N/A    No
                                                                                                 Mortgage       Program        Mortgage       Ratio (Subject DSCR) discrepancy.             DSCR) of ___ does not meet Guideline Debt Service                                                              minimum by at least 40 points.                                                              (2025-10-14): XXXXX
                                                                                                 Eligibility    Eligibility    Eligibility                                                  Coverage Ratio (Subject DSCR) ___.                                                                                                                                                    SitusAMC
                                                                                                                                                                                                                                                                                                           Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                                                                           exceed the amount required based on the guidelines by at                                    Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           least 4 months.                                                                             10-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 76783162 34630403                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                                                                                                                                                                             Reviewer Comment      10/13/2025                   1          C          A          C          A                OR        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                                                                                                                                                                             (2025-10-13): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 76783162 34639036                         Credit     Property -     Appraisal      Property -     Missing Document: Appraisal not provided                                                           Appraisal is missing from file.                                                                                                                       Reviewer Comment      10/09/2025                   1          D          A          D          A                OR        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal                                                                                                                                                                                                                                                               (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 76783162 34691330                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2025 2                     B                     B                OR        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76783162 34691350                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/10/2025                   1                     A                     A                OR        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 76783162 34704917                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/10/2025 2                     B                     B                OR        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                                                              (2025-10-10): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 76068904 34592010                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Rate Lock document not present in the file                                                                                                            Reviewer Comment      10/03/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 76068904 34592016                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/03/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 76068904 34592024                         Credit     Compliance     Miscellaneous  Compliance     Patriot Act Disclosure is missing             -                                                    Patriot Act Disclosure document is missing in the file                                                                                                Reviewer Comment      10/03/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                                                                                                                                                                                                                                                                             (2025-10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 76068904 34642468                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        10/03/2025 2                     B                     B                TX        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  this purchase transaction of at least 5% and $5,000.00.                                     (2025-10-03): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  minimum by at least 40 points.
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 72432043 34636379                         Credit     Hazard         Insufficient   Hazard         The Hazard Insurance Policy Effective Date is Hazard Insurance Policy Effective Date ___,          The Hazard Insurance Policy Effective Date is after the                                                                                               Reviewer Comment      10/09/2025                   1          C          A          C          A                OK        Investment Purchase                              N/A    No
                                                                                                 Insurance      Coverage       Insurance      after closing.                                Disbursement Date: ___                               later of the note or disbursement date.                                                                                                               (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 72432043 34636384                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/10/2025                   1          D          A          D          A                OK        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 72432043 34636387                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of Rate lock document.                                                                                                    Reviewer Comment      10/09/2025                   1          C          A          C          A                OK        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 72432043 34636400                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the OFAC document.                                                                                                     Reviewer Comment      10/09/2025                   1          C          A          C          A                OK        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 72432043 34704945                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/10/2025 2                     B                     B                OK        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                                                              (2025-10-10): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at               SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
[redacted] [redacted] [redacted] [redacted] 72235012 34527687                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/29/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-29): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72235012 34530948                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate Lock rate date is blank.                                                                                                                 Reviewer Comment      09/30/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-09-30): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 72235012 34531206                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/07/2025 2          C          B          C          B                OK        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                                                              (2025-10-07): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis. Must also verify borrower is 100% owner of
                                                                                                                                                                                                                                                 XXXXX and XXXXX.                                                                                                                                      Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 72235012 34531236                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Verified assets in the amount of $0  are insufficient to                                                                                              Reviewer Comment      10/07/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       meet reserves requirement of $47,955.13 .  Final 1008                                                                                                 (2025-10-07): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                                                                       reflects $1,288,953.88  verified, however, unable to use
                                                                                                                Discrepancy                                                                                                                      funds  from businesses XXXXX and XXXXX. XXX letter
                                                                                                                                                                                                                                                 indicating withdrawal of the funds will not negatively
                                                                                                                                                                                                                                                 impact the business is required.
[redacted] [redacted] [redacted] [redacted] 72235012 34531253                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $0.00 are                                                                                                     Reviewer Comment      10/07/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $22,225.09. Final                                                                                               (2025-10-07): XXXXX                                                                                                                  Rate/Term
                                                                                                                Analysis                                                                                                                         1008 reflects $1,288,953.88 verified, however, evidence
                                                                                                                                                                                                                                                 of access to funds for all the business bank statements
                                                                                                                                                                                                                                                 are missing. XXX letter indicating withdrawal of the
                                                                                                                                                                                                                                                 funds will not negatively impact the business is
                                                                                                                                                                                                                                                 required.
[redacted] [redacted] [redacted] [redacted] 72235012 34701485                         Credit     Borrower and   Borrower       Borrower and   Guideline Issue: Number of properties                                                              DSCR guides allow for 20 financed properties, per 1003,   The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/15/2025 2                     B                     B                OK        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Eligibility    Mortgage       financed exceeds amount allowed by                                                                 borrower has 24 financed properties.                      minimum by at least 40 points.                                                              (2025-10-15): XXXXX                                                                                                                  Rate/Term
                                                                                                 Eligibility                   Eligibility    guidelines.                                                                                                                                                                                                                         SitusAMC
                                                                                                                                                                                                                                                                                                           Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                                                                           exceed the amount required based on the guidelines by at
                                                                                                                                                                                                                                                                                                           least 4 months.
[redacted] [redacted] [redacted] [redacted] 75412368 34551221                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      09/30/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided.
                                                                                                                                                                                            disclosure to applicant within three (3) business
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 75412368 34551270                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/03/2025                   1          D          A          D          A                FL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 75412368 34642469                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/03/2025 2                     B                     B                FL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                                                              (2025-10-03): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 71720500 34740119                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the OFAC.                                                                                                              Reviewer Comment      10/21/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 71720500 34740127                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of initial rate lock                                                                                                      Reviewer Comment      10/21/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-10-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 71720500 34740139                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/22/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 71720500 34776000                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per Guidelines loan amounts < $2,000,000 require a        Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        10/22/2025 2                     B                     B                TX        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  this purchase transaction of at least 5% and $5,000.00.                                     (2025-10-22): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Review OR a 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.
[redacted] [redacted] [redacted] [redacted] 79943372 34792605                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/29/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73266562 34543124                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/06/2025                   1          D          A          D          A                VA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 73266562 34543230                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/07/2025 2          C          B          C          B                VA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                                                              (2025-10-07): XXXXX
                                                                                                                                                                                                                                                 impact the business or cash flow analysis.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 73266562 34543235                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/07/2025                   1          C          A          C          A                VA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          indicating withdrawal of the funds will not negatively                                                                                                (2025-10-07): XXXXX
                                                                                                                Analysis                                                                                                                         impact the business or cash flow analysis document.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 73266562 34543243                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/07/2025 2          C          B          C          B                VA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                                                              (2025-10-07): XXXXX
                                                                                                                Guidelines                                                                                                                       impact the business or cash flow analysis.
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 79571603 34697438                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/17/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-17): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 77498453 34637267                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77590095 34664805                         Property   Property -     Appraisal      Property -     Missing Document: Appraisal was made "subject -                                                    The file was missing a copy of 422 Completion or update                                                                                               Reviewer Comment      10/15/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      to" and Form 1004D/442 was not provided.                                                           report.                                                                                                                                               (2025-10-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 77368345 34851468                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/04/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77368345 34851642                         Compliance Compliance     State          State Late     XXXXX First Lien Late Charge Grace Period     XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        11/06/2025 2          B          B          B          B                PA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         Testing                                       less than the state minimum of 15 days.              minimum of 15 days.                                                                                                                                   (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77368345 34851656                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate Lock rate date is blank. Provide Rate Lock                                                                                               Reviewer Comment      11/05/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-11-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77368345 34851659                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          Operating Agreement is missing from file.                                                                                                             Reviewer Comment      11/17/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-11-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-12): XXXXX
[redacted] [redacted] [redacted] [redacted] 78091774 34730916                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/20/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78091774 34732297                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/17/2025 2          B          B          B          B                AL        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 final title policy or an addendum to the preliminary                                                               be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                                                                                                                                 amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 77616537 34605138                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/06/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77616537 34605493                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/06/2025 2          B          B          B          B                TN        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 the final title policy or an addendum to the preliminary                                                           be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                                                                                                                                 amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 70762900 34710480                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/17/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75556772 34624898                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/08/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-08): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 75556772 34625958                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing secondary valuation.                                                                                               Reviewer Comment      10/14/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    The provided CU and/or LCA provide relief.                                                                                                            (2025-10-14): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 75556772 34671780                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Bank statement reflects a large unsourced deposit of                                                                                                  Reviewer Comment      10/10/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       $89,778 that was excluded from available assets by                                                                                                    (2025-10-10): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                                                                       review.
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 76436690 34588158                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/02/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76436690 34588160                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/08/2025                   1          D          A          D          A                FL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 79687495 34713408                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/17/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79687495 34713480                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification revised appraisal was delivered to borrower                                                                                                                                      10/15/2025 2          B          B          B          B                AL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   was not provided.                                                                                                                                                                                                                                                                          Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 79687495 34713481                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification XXXXX was delivered to borrower was not                                                                                                                                          10/15/2025 2          B          B          B          B                AL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 74371991 34795507                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/30/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74371991 34795654                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/28/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74371991 34795660                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                    Reviewer Comment      11/06/2025                   1          B          A          B          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to consumer.                                                                                                                     (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            disclosure to consumer.                                                                                                                                                                                                                                                                                                                         Other
[redacted] [redacted] [redacted] [redacted] 74371991 34795748                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missing a copy of Initial Rate Lock.                                                                                                      Reviewer Comment      10/29/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78854534 34639793                         Compliance Loan Package   Closing /      Missing,       Missing Document: Note - Subject Lien not                                                          Subject lien note document is missing in the file.                                                                                                    Reviewer Comment      01/28/2026                   1          D          A          D          A                IN        Investment Purchase                              N/A    No
                                                                                                 Documentation  Title          Incorrect, or  provided                                                                                                                                                                                                                                                 (2026-01-28): XXXXX
                                                                                                                               Incomplete
                                                                                                                               Note
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2026-
                                                                                                                                                                                                                                                                                                                                                                                                       01-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 78854534 34639804                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/08/2025 2          B          B          B          B                IN        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 72293666 34673379                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/13/2025 2          B          B          B          B                OK        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73766434 34704237                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/17/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73766434 34704417                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/15/2025 2          B          B          B          B                GA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70529114 34677516                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing secondary valuation.                                                                                               Reviewer Comment      10/29/2025                   1          D          A          D          A                FL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    The provided CU and/or LCA provide relief.                                                                                                            (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-20): XXXXX
[redacted] [redacted] [redacted] [redacted] 77885758 34697160                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/14/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73742881 34835406                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              File is missing a copy of HUD/CD document.                                                                                                            Reviewer Comment      11/04/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 73742881 34835444                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing a copy of Initial Rate Lock Date                                                                                                      Reviewer Comment      11/03/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 73742881 34835466                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/30/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70694869 34873269                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/07/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70694869 34879890                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      11/05/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70694869 34879891                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      11/05/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70694869 34879892                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            11/05/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 70694869 34879893                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.              minimum of 10 days.                                                                                                                                   (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70694869 34879927                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate Lock is missing.                                                                                                                         Reviewer Comment      11/10/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70694869 34891846                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              Missing the HUD-1/ Closing statement                                                                                                                  Reviewer Comment      11/13/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 78885881 34858961                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78885881 34862650                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Copy of Rate lock is missing.                                                                                                                         Reviewer Comment      11/06/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78885881 34862720                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            11/04/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 78885881 34862723                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is                                                                                                                                                          Reviewer Comment                        11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.                                                                                                                                                                    (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78885881 34894771                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                                                                                                                                                                                    Reviewer Comment      11/11/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78289306 34761056                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75524350 34739752                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/20/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 78564416 34659972                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/10/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73878349 34688803                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/15/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73878349 34690342                         Credit     Loan Package   Application /  Loan Package   Missing Document: Certificate of Good                                                              The file was missing a copy of the required Certificate                                                                                               Reviewer Comment      10/20/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Standing not provided                                                                              of Good standing.                                                                                                                                     (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 78106701 34606718                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/07/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78106701 34606908                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/06/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 73923096 34767059                         Credit     Loan Package   Loan File      Missing        Missing Document: Hazard Insurance Policy not                                                      Hazard Insurance Policy document not available in file.                                                                                               Reviewer Comment      10/24/2025                   1          C          A          C          A                MI        Investment Purchase                              N/A    No
                                                                                                 Documentation                 Document       provided                                                                                                                                                                                                                                                 (2025-10-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 76609168 34761874                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Waiver Less than 3 ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                              Reviewer Comment      10/27/2025                   1          B          A          B          A                MI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Days From Consummation                        provided appraisal waiver less than three (3)        provided.                                                                                                                                             (2025-10-27): XXXXX
                                                                                                                                                                                            business days prior to consummation.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 72378200 34659538                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/13/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79519645 34605800                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification revised appraisal was delivered to borrower                                                                                                                                      10/06/2025 2          B          B          B          B                TN        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          was not provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76632961 34740080                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76632961 34740152                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/20/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 the final title policy or an addendum to the preliminary                                                           be provided
                                                                                                                                                                                                                                                 report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                                                                                                                                 amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 78189132 34745626                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 78189132 34751307                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing evidence of the date Rate was locked.                                                                                                 Reviewer Comment      10/22/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-22): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76121260 34951865                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/18/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-18): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76121260 34954617                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Rate/Term
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 76121260 34954648                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Rate Lock is missing.                                                                                                                                 Reviewer Comment      11/14/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-14): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76121260 34954649                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              amount (no final title policy in file).                                                            final title policy or an addendum to the preliminary                                                               be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 74235836 34767223                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/27/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75984254 34781947                         Credit     Guideline      Guideline      Guideline      Ineligible borrower per guidelines.                                                                Borrowers who have lived in a rent-free situation are     The qualifying DSCR on the loan is greater than the      The DSCR of   SitusAMC,Aggregator  Reviewer Comment                        10/24/2025 2          C          B          C          B                MS        Investment Purchase                              N/A    No
                                                                                                                Issue                                                                                                                            ineligible. Per LOE in file borrower is living rent free. guideline minimum.                                       1.51 is                            (2025-10-24): XXXXX
                                                                                                                                                                                                                                                 Lender exception provided.                                                                                         greater than  SitusAMC
                                                                                                                                                                                                                                                                                                           Borrower's monthly reserves have been verified and       the minimum
                                                                                                                                                                                                                                                                                                           exceed the amount required based on the guidelines by at required DSCR                      Reviewer Comment
                                                                                                                                                                                                                                                                                                           least 4 months.                                          of 1.00.                           (2025-10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 72696929 34598754                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/03/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71012309 34762842                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/27/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-10-27): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 71012309 34762849                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $0.00 is                                                                                                 Reviewer Comment      10/27/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          less than Cash From Borrower $17,686.05.                                                                                                              (2025-10-27): XXXXX
                                                                                                                Analysis

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 71012309 34762864                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated Available for Reserves of 0.00 is less than                                                                                                Reviewer Comment      10/27/2025                   1          C          A          C          A                AL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline Available for Reserves of 6.00.                                                                                                             (2025-10-27): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 78085918 34674503                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78085918 34677593                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/15/2025                   1          D          A          D          A                AZ        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 79414559 34853279                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof the appraisal disclosure was                                                                                                                                       11/03/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided to the borrower(s) within 3 days of the                                                                                                                                                                                                                                           Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    application date.                                                                                                                                                                                                                                                                          Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 79414559 34853358                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              The file is missing a copy of HUD/ CD.                                                                                                                Reviewer Comment      11/05/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79414559 34853435                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78927100 34659534                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/13/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73150942 34511835                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor                                                                                                                                                                                                  09/24/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal
                                                                                                                                                                                            disclosure to applicant within three (3) business
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 73150942 34511836                         Compliance Compliance     State          State Defect   XXXXX Prepayment Penalty First Lien           XXXXX Prepayment Penalty: A prepayment penalty not                                                                                                                                                         Reviewer Comment                        10/01/2025 2          B          B          B          B                PA        Investment Purchase                              N/A    No
                                                                                                                Compliance                                                                  permissible on a first lien loan less than or equal                                                                                                                                                        (2025-10-01): XXXXX
                                                                                                                                                                                            to $319,777.00.  Prepay language states prepay will
                                                                                                                                                                                            not exceed maximum permitted by applicable law.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 73150942 34511880                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated Available for Reserves of  $15,387.83   is     Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        09/30/2025 2          C          B          C          B                PA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              less than Guideline Available for Reserves of             this purchase transaction of at least 5% and $5,000.00.                                     (2025-09-30): XXXXX
                                                                                                                Guidelines                                                                                                                       $114,160.97
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 73150942 34545783                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Bank statement for account ending in XXXXX reflects large                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          unsourced deposit of $115,375 that was not included in                                                                                                (2025-09-25): XXXXX
                                                                                                                Analysis                                                                                                                         available funds.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 77425794 34673192                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-14): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 77425794 34673748                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Verified assets in the amount of $5,302.56 are            The qualifying DSCR on the loan is greater than the      The DSCR of   SitusAMC,Aggregator  Reviewer Comment                        10/17/2025 2          C          B          C          B                AL        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              insufficient to meet reserves requirement of $4,053.35.   guideline minimum.                                       1.19 is                            (2025-10-17): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                                                                       Final 1008 reflects $5,767.77 verified However, the Cash                                                           greater than
                                                                                                                Discrepancy                                                                                                                      to Borrower $3,931.79 is less than the $4,460.00 used at                                                           the minimum
                                                                                                                                                                                                                                                 approval.                                                                                                          required DSCR                      Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                    of 1.00.                           (2025-10-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 73498476 34597237                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/03/2025 2          B          B          B          B                RI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 79631747 34723003                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Business funds used, but borrower does not own 100% of    Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/17/2025 2          C          B          C          B                IL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 the account. Approved lender exception is in file         exceed the amount required based on the guidelines by at                                    (2025-10-17): XXXXX
                                                                                                                                                                                                                                                 (D0251). Client to review.                                least 4 months.                                                        SitusAMC

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 71634277 34514537                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/25/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-25): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 71634277 34514891                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain documentation from lender/seller                                                                                                Reviewer Comment      09/30/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              confirming the condo is warrantable                                                                                                                   (2025-09-30): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              warrantable.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 71634277 34514916                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      09/26/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 73906240 34682515                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/15/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73456901 34949966                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/18/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-18): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 78063329 34606031                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/06/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78063329 34607107                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $40,000.00 Provide                                                                                                    Reviewer Comment      10/10/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 supporting current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 79623747 34612242                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/06/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79623747 34612274                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/06/2025 2          B          B          B          B                OH        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 79623747 34612337                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/06/2025 2          B          B          B          B                OH        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 78147298 34714428                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/22/2025                   1          D          A          D          A                PA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 78995587 34598927                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/03/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                                                                                                                                 amount.  Provide a copy of the final title policy or an                                                            be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 72713385 34599748                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/03/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70546769 34751822                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70546769 34752286                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/21/2025 2          B          B          B          B                AL        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 70546769 34765607                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/21/2025 2          B          B          B          B                AL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 79140509 34638303                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                MS        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79140509 34640841                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/08/2025 2          B          B          B          B                MS        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 79140509 34640850                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/08/2025 2          B          B          B          B                MS        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76610756 34872933                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/07/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76610756 34880154                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file is missing copy of right to received copy of                                                                                                 Reviewer Comment      11/07/2025                   1          B          A          B          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  appraisal                                                                                                                                             (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            disclosure to consumer.                                                                                                                                                                                                                                                                                                                         Other
[redacted] [redacted] [redacted] [redacted] 76610756 34880156                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.              minimum of 10 days.                                                                                                                                   (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76610756 34880173                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      11/14/2025                   1          D          A          D          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-11-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76610756 34880174                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missin copy of rate lock document                                                                                                         Reviewer Comment      11/07/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76610756 34895865                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Appraisal Waiver provided was signed after Note date.                                                                                                                                         11/05/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at                                                                                                                                                                                                                                                                                              Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 76610756 34895866                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Appraisal Waiver provided was signed after Note date.                                                                                                 Reviewer Comment                        11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at                                                                                                                                                         (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 75501766 34813177                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/03/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-03): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 70568294 34664982                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/09/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 70164490 34674558                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70164490 34674706                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/13/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 74205381 34696354                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/16/2025                   1          C          A          C          A                VA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-16): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 75245058 34525817                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      09/29/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-09-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71144967 34605391                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/06/2025 2          B          B          B          B                NV        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 71906699 34639572                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77131014 34697092                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/20/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-20): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 77131014 34726695                         Credit     Guideline      Guideline      Guideline      Aged document: Asset Account date is more     -                                                    Per guidelines, for funds required for closing, the most                                                                                              Reviewer Comment      10/24/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         than 90 days prior to Closing.                                                                     recent statement is required. Account statements in file                                                                                              (2025-10-24): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 are not the most recent.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 77871034 34654684                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/10/2025                   1          C          A          C          A                MA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77871034 34654716                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2025 2          B          B          B          B                MA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 72803847 34701884                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/17/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-17): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72803847 34702092                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/14/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 72803847 34702150                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $400.00.  Provide updated                                                                                             Reviewer Comment      10/30/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   policy reflecting minimum coverage of $XXXXX OR provide                                                                                               (2025-10-30): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 copy of insurer's replacement cost estimate supporting
                                                                                                                                                                                                                                                 current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-20): XXXXX
[redacted] [redacted] [redacted] [redacted] 70667987 34727539                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Bank statement for account ending in XXXXX reflects a                                                                                                 Reviewer Comment      10/21/2025                   1          C          A          C          A                VA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       large deposit in the amount of $84K that is unsourced and                                                                                             (2025-10-21): XXXXX
                                                                                                                Guidelines                                                                                                                       was not included by review in available assets.
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 70667987 34727540                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Bank statement for account ending in XXXXX reflects a                                                                                                 Reviewer Comment      10/21/2025                   1          C          A          C          A                VA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          large deposit in the amount of $84K that is unsourced and                                                                                             (2025-10-21): XXXXX
                                                                                                                Analysis                                                                                                                         was not included by review in available assets.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-20): XXXXX
[redacted] [redacted] [redacted] [redacted] 79281220 34803816                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/31/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79281220 34805947                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/29/2025 2          B          B          B          B                WI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79281220 34805994                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/29/2025 2          B          B          B          B                WI        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 76596414 34731680                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/17/2025 2          B          B          B          B                GA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.
                                                                                                                                                                                            least three (3) business days prior to closing, and
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70555205 34909975                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/12/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70555205 34910410                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/07/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70555205 34910411                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/07/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70555205 34910412                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/07/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70555205 34910413                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is                                                                                                                                                          Reviewer Comment                        11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.                                                                                                                                                                    (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71474721 34528297                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            XXXXX requirements:  Replacement Cost Estimate not                                                                                                    Reviewer Comment      07/23/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   provided.  Need insurer's email confirmation stating                                                                                                  (2025-07-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 dwelling coverage amended RCE.                                                                                                                                                                                                                                                             Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 79028919 34528427                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Fraud Report is missing in file.                                                                                                                      Reviewer Comment      07/07/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-07-07): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 79028919 34528429                         Credit     Missing        General        Missing        Missing Document: Eligibility Certificate not                                                      Eligibility Certificate is missing in file.                                                                                                           Reviewer Comment      07/03/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       provided                                                                                                                                                                                                                                                 (2025-07-03): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 79028919 34528431                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                Missing OFAC.                                                                                                                                         Reviewer Comment      07/07/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-07-07): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 71451462 34528505                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Primary Residence XXXXX is missing XX/XX/XX payments.                                                                                                 Reviewer Comment      07/24/2025                   1          C          A          C          A                RI        Investment Purchase                              N/A    No
                                                                                                                Issue                         required.                                                                                          Investment Residence XXXXX lane is missing                                                                                                            (2025-07-24): XXXXX
                                                                                                                                                                                                                                                 XX/XX/XXpayments.
                                                                                                                                                                                                                                                 Investment Residence XXXXX  is missing XX/XX/XX payments.
                                                                                                                                                                                                                                                 Investment Residence XXXXX is missing XX/XX/XX payments.                                                                                              Buyer Comment (2025-
                                                                                                                                                                                                                                                 Investment Residence  XXXXX is missing XX/XX/XX payments.                                                                                             07-22): XXXXX
                                                                                                                                                                                                                                                 Investment Residence XXXXX is missing XX/XX/XX payments.
[redacted] [redacted] [redacted] [redacted] 74306055 34528556                         Credit     Missing        General        Missing        Missing Document: Source of Funds/Deposit not                                                      Required EMD deposit receipt of $50,000.                                                                                                              Reviewer Comment      06/13/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       provided                                                                                                                                                                                                                                                 (2025-06-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-12): XXXXX
[redacted] [redacted] [redacted] [redacted] 74306055 34528557                         Credit     Guideline      Guideline      Guideline      "Other" housing history reflects lates that                                                        Guidelines required a Verification of Mortgage for all                                                                                                Reviewer Comment      06/13/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Issue                         do not meet guidelines.                                                                            financed properties, including the month prior to                                                                                                     (2025-06-13): XXXXX
                                                                                                                                                                                                                                                 closing. Provide updated mortgage histories for XXXXX
                                                                                                                                                                                                                                                 XXXXX for the following mortgage loans reflecting on
                                                                                                                                                                                                                                                 credit report of  XXXXX & XXXXX.                                                                                                                      Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-12): XXXXX
[redacted] [redacted] [redacted] [redacted] 79140715 34528623                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      07/22/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-07-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-06-27): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-26): XXXXX
[redacted] [redacted] [redacted] [redacted] 70431489 34528667                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                As per guide, third-party fraud report is required for                                                                                                Reviewer Comment      07/22/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                    business entity XXXXX                                                                                                                                 (2025-07-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 70431489 34528668                         Credit     Loan Package   Application /  Loan Package   Missing Document: Certificate of Good                                                              provide Certificate of good standing for  business entity                                                                                             Reviewer Comment      07/15/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Standing not provided                                                                              XXXXX                                                                                                                                                 (2025-07-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 75740311 34528686                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      06/20/2025                   1          D          A          D          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-06-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-20): XXXXX
[redacted] [redacted] [redacted] [redacted] 75740311 34528687                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Loan to value                                                               Reduced maximum LTV/CLTV by ten (10%) for subject                                                                                                     Reviewer Comment      06/20/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Program        Mortgage       discrepancy.                                                                                       property located in an area of declining property values                                                                                              (2025-06-20): XXXXX                                                                                                                  Cash-out -
                                                                                                 Eligibility    Eligibility    Eligibility                                                                                                       as reported by XXX.                                                                                                                                                                                                                                                                        Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-20): XXXXX
[redacted] [redacted] [redacted] [redacted] 75740311 34528688                         Credit     Credit         AUS            Guideline      Guideline Requirement: Combined loan to value                                                      Reduced maximum LTV/CLTV by ten (10%) for subject                                                                                                     Reviewer Comment      06/20/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       property located in an area of declining property values                                                                                              (2025-06-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                       as reported by XXX.                                                                                                                                                                                                                                                                        Other
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-20): XXXXX
[redacted] [redacted] [redacted] [redacted] 79542501 34528692                         Credit     Credit         Credit         Credit         Absence of Business Purpose Certificate                                                            Business Purpose Certificate is missing in file.                                                                                                      Reviewer Comment      07/11/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 and/or Non-Owner Occupancy Declaration and/or                                                                                                                                                                                                            (2025-07-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              UW Business Purpose Analysis and thus casts                                                                                                                                                                                                                                                                                                                                                   Other
                                                                                                                                              doubt on the business purpose of the loan.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 77661115 34528696                         Compliance Compliance     Federal        Missing        Acknowledgement of Borrower Receipt of Notice FDPA Notification Rule: Creditor did not retain      Disclosure provided is not signed by the borrower.                                                                                                    Reviewer Comment      07/07/2025                   1          B          A          B          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Disclosure     of Special Flood Hazard Disclosure Missing    record of borrower's receipt of Notice of Special                                                                                                                                                          (2025-07-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            Flood Hazard Disclosure.                                                                                                                                                                                                                                                                                                                        Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 77661115 34528697                         Compliance Compliance     Federal        Missing        Notice of Special Flood Hazard Disclosure     Unable to determine compliance of Notice of Special  Disclosure is not dated or signed by the borrower.                                                                                                    Reviewer Comment      07/07/2025                   1          B          A          B          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Disclosure     Missing                                       Flood Hazard Disclosure due to missing information.                                                                                                                                                        (2025-07-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77661115 34528698                         Credit     Missing        General        Missing        Missing Document: Lease Agreement not                                                              Use the lower of the (a) executed lease agreement or (b)                                                                                              Reviewer Comment      07/08/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       provided                                                                                           market rent from appraisal. Lease agreement states $4,395                                                                                             (2025-07-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 vs market rent is $4,500.00. Lease expired XX/XX/XX with                                                                                                                                                                                                                                   Other
                                                                                                                                                                                                                                                 month to month; however, missing evidence of documented
                                                                                                                                                                                                                                                 increase to $4,500.                                                                                                                                   Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 77661115 34528699                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Debt Service Coverage                                                       Use the lower of the (a) executed lease agreement or (b)                                                                                              Reviewer Comment      07/08/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Program        Mortgage       Ratio (Subject DSCR) discrepancy.                                                                  market rent from appraisal. Lease agreement states $4,395                                                                                             (2025-07-08): XXXXX                                                                                                                  Cash-out -
                                                                                                 Eligibility    Eligibility    Eligibility                                                                                                       vs market rent is $4,500.00. Lease expired XX/XX/XX with                                                                                                                                                                                                                                   Other
                                                                                                                                                                                                                                                 month to month; however, missing evidence of documented
                                                                                                                                                                                                                                                 increase to $4,500.                                                                                                                                   Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 72858309 34529248                         Credit     Loan Package   Closing /      Loan Package   Missing Document: Rider - 1-4 Family not                                                           Please provide a copy of Rider 1-4 Family document.                                                                                                   Reviewer Comment      08/14/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Documentation  provided                                                                                                                                                                                                                                                 (2025-08-14): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72858309 34529250                         Compliance Loan Package   Closing /      Missing,       Missing Document: Note - Subject Lien not                                                          Available Note document has incorrect borrower name as                                                                                                Reviewer Comment      08/21/2025                   1          D          A          D          A                TN        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Incorrect, or  provided                                                                                           XXXXX, Please provide a copy of Note document with                                                                                                    (2025-08-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                               Incomplete                                                                                                        corrected spelling of XXXXX.
                                                                                                                               Note
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 72858309 34529251                         Credit     Loan Package   Closing /      Missing        Missing Document: Security Instrument -                                                            Available Security Instrument document has incorrect                                                                                                  Reviewer Comment      08/21/2025                   1          D          A          D          A                TN        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Document       Subject Lien not provided                                                                          borrower name as XXXXX, Please provide a copy of document                                                                                             (2025-08-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 with corrected spelling of XXXXX.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 72858309 34529252                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Loan to value                                                               Refinance with missing lease agreement required LTV to be                                                                                             Reviewer Comment      07/28/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Program        Mortgage       discrepancy.                                                                                       deducted by 5%. The lease agreement in file is not for                                                                                                (2025-07-28): XXXXX                                                                                                                  Rate/Term
                                                                                                 Eligibility    Eligibility    Eligibility                                                                                                       the subject property.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 72858309 34529253                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Missing evidence of XXXXX XXXXX payment for XXXXX. Per                                                                                                Reviewer Comment      07/30/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         required.                                                                                          guidelines, On the credit report date, the existing                                                                                                   (2025-07-30): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 mortgage(s) must be current, which means that no more
                                                                                                                                                                                                                                                 than 45 days have elapsed since the last paid installment
                                                                                                                                                                                                                                                 date.                                                                                                                                                 Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 72858309 34529254                         Credit     Credit         AUS            Guideline      Guideline Requirement: Combined loan to value                                                      Refinance with missing lease agreement required LTV to be                                                                                             Reviewer Comment      07/28/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       deducted by 5%. The lease agreement in file is not for                                                                                                (2025-07-28): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                                                                       the subject property.
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 72858309 34529255                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/28/2025                   1                     A                     A                TN        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-28): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 77583410 34529258                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Final 1003 reflects current address as 'XXXXX' and REO                                                                                                Reviewer Comment      07/29/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         required.                                                                                          section noted ' XXXXX' as a primary residence, however                                                                                                (2025-07-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 fraud report shows XXXXX does not belong to borrower and                                                                                                                                                                                                                                   Other
                                                                                                                                                                                                                                                 no evidence available to confirm ownership for XXXXX.
                                                                                                                                                                                                                                                 Require clarification along with ownership evidence of                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                 borrower's primary residence, additionally require 12                                                                                                 07-25): XXXXX
                                                                                                                                                                                                                                                 months housing history as per guide.

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 72545725 34529302                         Credit     Loan Package   Application /  Loan Package   Missing Document: Purchase Agreement / Sales                                                       Purchase contract is missing with seller signature and                                                                                                Reviewer Comment      08/04/2025                   1          D          A          D          A                CA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  Contract not provided                                                                              Sales Contract addendum for change in purchase price is                                                                                               (2025-08-04): XXXXX
                                                                                                                                                                                                                                                 missing with buyer(s) signature.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-31): XXXXX
[redacted] [redacted] [redacted] [redacted] 76338669 34529398                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Fraud Report is missing for XXXXX.                                                                                                                    Reviewer Comment      06/24/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-06-24): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 76338669 34529399                         Credit     Loan Package   Application /  Loan Package   Missing Document: Certificate of Good                                                              Certificate of Good Standing is missing for XXXXX.                                                                                                    Reviewer Comment      06/20/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Standing not provided                                                                                                                                                                                                                                    (2025-06-20): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-20): XXXXX
[redacted] [redacted] [redacted] [redacted] 76338669 34529401                         Credit     Missing        General        Missing        Missing Document: HUD/CD (Initial Purchase)                                                        Require Source of Funds (HUD-1) for the Initial Purchase                                                                                              Reviewer Comment      07/18/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       not provided                                                                                       of the subject property "XXXXX" to confirms that no                                                                                                   (2025-07-18): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 mortgage financing was used to obtain the subject
                                                                                                                                                                                                                                                 property. Loan is locked as rate and term, for  Rate and
                                                                                                                                                                                                                                                 Term Refinance , The mortgage amount XXXXX include the:                                                                                               Buyer Comment (2025-
                                                                                                                                                                                                                                                 Principal balance of the existing first lien. Subject                                                                                                 07-16): XXXXX
                                                                                                                                                                                                                                                 loan includes 10k in accrued interest and current higher
                                                                                                                                                                                                                                                 value $875k was used for LTV purposes versus lower recent
                                                                                                                                                                                                                                                 purchase price of $XXXXX from XX/XX/XX purchase.                                                                                                      Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-06-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-27): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-06-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-20): XXXXX
[redacted] [redacted] [redacted] [redacted] 76338669 34529404                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Asset documentation not provided, require at least 1                                                                                                  Reviewer Comment      06/20/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       month bank statement showing 3 mos reserves per                                                                                                       (2025-06-20): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                                                                       guideline.
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-20): XXXXX
[redacted] [redacted] [redacted] [redacted] 76338669 34529405                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/04/2025                   1                     A                     A                NY        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-04): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72036165 34529441                         Property   Property -     Appraisal      Property -     Missing Document: Appraisal was made "subject -                                                    Final Inspection / 442 / 100D not provided. appraise                                                                                                  Reviewer Comment      07/31/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      to" and Form 1004D/442 was not provided.                                                           value is subject to as per page 2                                                                                                                     (2025-07-31): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 72036165 34529442                         Credit     Loan Package   Application /  Loan Package   Missing Document: Note Addendum - Interest                                                         Require interest-only payment & date information updated                                                                                              Reviewer Comment      08/20/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Only not provided                                                                                  on Note document.                                                                                                                                     (2025-08-20): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 74217076 34529457                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Cash from borrower requirement is $172,012.32 and                                                                                                     Reviewer Comment      08/18/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          available asset are $160,802.66 XXX letter provided                                                                                                   (2025-08-18): XXXXX
                                                                                                                Analysis                                                                                                                         confirms business account is used for subject transaction
                                                                                                                                                                                                                                                 however supporting document is missing for business
                                                                                                                                                                                                                                                 account.                                                                                                                                              Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 74217076 34529460                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Additional Assets are required to meet the reserve                                                                                                    Reviewer Comment      08/18/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       requirement.                                                                                                                                          (2025-08-18): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 78536403 34529462                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/11/2025                   1          C          A          C          A                MN        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78536403 34529464                         Compliance Loan Package   Closing /      Loan Package   (Doc Error) Security Instrument Error: Notary                                                      Notary date on Security Instrument not provided. page 11                                                                                              Reviewer Comment      08/21/2025                   1          B          A          B          A                MN        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Documentation  Date was not provided                                                                              of 12 missing.                                                                                                                                        (2025-08-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 78536403 34529465                         Compliance Compliance     State          Misc. State    Minnesota Residential Mortgage Originator and XXXXX Residential Originator and Servicer Licensing  Financed Fees on subject loan in excess of 5% of Total                                                                                                Buyer Comment (2025-                    08/18/2025 2          B          B          B          B                MN        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Level          Servicer Licensing Act - Financed Points and  Act: Financed Fees on subject loan in excess of 5%   Loan Amount.                                                                                                                                          08-18): XXXXX                                                                                                                        Cash-out -
                                                                                                                                              Fees Exceeds 5% Threshold                     of Total Loan Amount.                                                                                                                                                                                                                                                                                                                           Other
[redacted] [redacted] [redacted] [redacted] 71715269 34529476                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary          Note Date:  ___; Lien Position: ___                  The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/13/2025                   1          D          A          D          A                CA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 79913656 34529529                         Credit     Loan Package   Application /  Loan Package   Missing Document: Spousal Consent Form not                                                         Spousal Consent not provided.                                                                                                                         Reviewer Comment      08/13/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-08-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 79913656 34529532                         Credit     System         General        Appraisal      Valuation address does not match Note         -                                                    Subject street address on page 1 of appraisal report show                                                                                             Reviewer Comment      08/06/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                               Reconciliation address.                                                                                           XXXXX not the Note street address XXXXX.                                                                                                              (2025-08-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 79913656 34529533                         Credit     Missing        General        Missing        Incomplete Document: 1003 Final is incomplete                                                      Per guidelines, each Guarantor must complete and sign a                                                                                               Reviewer Comment      08/11/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                          Loan Application as an individual. The section labelled                                                                                               (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 "Title will be held in what Name(s)" should be completed                                                                                                                                                                                                                                   Other
                                                                                                                                                                                                                                                 with the entity name.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 79913656 34529534                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/05/2025                   1                     A                     A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72132078 34529541                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/11/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70974635 34529551                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/05/2025                   1                     A                     A                IN        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78521048 34529565                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/18/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-18): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 78521048 34529568                         Compliance Compliance     Federal        Missing        Acknowledgement of Borrower Receipt of Notice FDPA Notification Rule: Creditor did not retain      Notice provided but is not signed or dated by Borrower                                                                                                Reviewer Comment      08/13/2025                   1          B          A          B          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Disclosure     of Special Flood Hazard Disclosure Missing    record of borrower's receipt of Notice of Special                                                                                                                                                          (2025-08-13): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            Flood Hazard Disclosure.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 78521048 34529569                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                The fraud report provided is for the borrower                                                                                                         Reviewer Comment      08/14/2025                   1                     A                     A                FL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                    "individually". Guides require a fraud report for the                                                                                                 (2025-08-14): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 entity. I have included vendors who can provide fraud
                                                                                                                                                                                                                                                 reports for businesses. Business Fraud reports: XXXXX,
                                                                                                                                                                                                                                                 XXXXX, XXXXX, XXXXX.                                                                                                                                  Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 78484183 34529573                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/31/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72640776 34529575                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/08/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72640776 34529576                         Credit     Title          General        Title          Title Policy Coverage is less than Original                                                        The Preliminary Title Report in file disclosed $XXXXX of                                                                                              Reviewer Comment      08/14/2025                   1          B          A          B          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                                                                       title insurance coverage; however this is less than the                                                                                               (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 loan amount of $XXXXX Provide a copy of the title policy                                                                                                                                                                                                                                   Other
                                                                                                                                                                                                                                                 or a supplemental title report verifying title insurance
                                                                                                                                                                                                                                                 of at least the loan amount.                                                                                                                          Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 72640776 34529577                         Credit     Legal /        Title / Lien   Title          Title Policy is Preliminary or Commitment,                                                                                                                                                                                                               Reviewer Comment      08/14/2025                   1          A          A          A          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Regulatory /   Defect                        and not a Final Title Policy.                                                                                                                                                                                                                            (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                 Compliance                                                                                                                                                                                                                                                                                                                                                                                                                                 Other
[redacted] [redacted] [redacted] [redacted] 71826525 34529578                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/12/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71826525 34529580                         Credit     Loan Package   Application /  Missing        Missing Document: Other not provided                                                               Mortgage Payoff Statement with XXXXX is missing in file.                                                                                              Reviewer Comment      08/14/2025                   1          C          A          D          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                                                                                                                                                                                (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 71826525 34529581                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Loan to value                                                               Property is Tenant occupied as per appraisal report and                                                                                               Reviewer Comment      08/14/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Program        Mortgage       discrepancy.                                                                                       1007 schedule however lease agreement not provided. As                                                                                                (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                 Eligibility    Eligibility    Eligibility                                                                                                       per guide, 5% reduction is considered (70%-5% = 65%) for                                                                                                                                                                                                                                   Other
                                                                                                                                                                                                                                                 unleased property and lease agreement not requested.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 71826525 34529582                         Credit     Credit         AUS            Guideline      Guideline Requirement: Combined loan to value                                                      Property is Tenant occupied as per appraisal report and                                                                                               Reviewer Comment      08/14/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       1007 schedule however lease agreement not provided. As                                                                                                (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                       per guide, 5% reduction is considered (70%-5% = 65%) for                                                                                                                                                                                                                                   Other
                                                                                                                Discrepancy                                                                                                                      unleased property and lease agreement not requested.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 72219960 34529606                         Credit     Loan Package   Closing /      Loan Package   Missing Document: Closing Protection Letter                                                        Closing Protection Letter is missing in the file.                                                                                                     Reviewer Comment      07/28/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Documentation  not provided                                                                                                                                                                                                                                             (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-25): XXXXX
[redacted] [redacted] [redacted] [redacted] 72219960 34529607                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      08/01/2025                   1          D          A          D          A                AZ        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-08-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-31): XXXXX
[redacted] [redacted] [redacted] [redacted] 72219960 34529608                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      07/28/2025                   1                     A                     A                AZ        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77438640 34529719                         Credit     Loan Package   Loan File      Missing        Missing Document: Hazard Insurance Policy not                                                      Require hazard insurance policy with annual premium of                                                                                                Reviewer Comment      08/13/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Documentation                 Document       provided                                                                                           $3,732 annually and $311 / month. annul premium invoice                                                                                               (2025-08-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 of $932 present and $77.67 / months.                                                                                                                                                                                                                                                       Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 72136528 34529727                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/05/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72136528 34529728                         Credit     Guideline      Guideline      Guideline      Minimum of 600 square feet of gross living                                                         Properties with less than 600 sq ft are ineligible.       Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        07/29/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         area required per company guidelines.                                                                                                                        years.                                                                                      (2025-07-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                                                                           Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                                                                           exceed the amount required based on the guidelines by at               SitusAMC
                                                                                                                                                                                                                                                                                                           least 4 months.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 72136528 34529729                         Credit     Missing        General        Missing        Missing Document: Lease Agreement not                                                              The appraisal shows the property is tenant occupied by a                                                                                              Reviewer Comment      08/01/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       provided                                                                                           relative for $500 per month. Lender correspondence in                                                                                                 (2025-08-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 file states this was the borrowers mother and she was                                                                                                                                                                                                                                      Other
                                                                                                                                                                                                                                                 moving out. Provide proof the mother moved out or a
                                                                                                                                                                                                                                                 lease.                                                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 78536307 34529731                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Provide pictures of the back of the house showing the                                                                                                 Reviewer Comment      08/12/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 back door installed and wall completed. Provide pictures                                                                                              (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 showing the interior window and breakfast room wall is                                                                                                                                                                                                                                     Other
                                                                                                                                                                                                                                                 completed. Provide proof the facia on the right side of
                                                                                                                                                                                                                                                 the home is not rotten.                                                                                                                               Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-07-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       07-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 73719854 34532386                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      08/14/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-08-14): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 73719854 34532388                         Credit     Insurance      Insurance      Insurance      Hazard Insurance Policy expires within 90                                                          The policy must be effective for at least 60 days after                                                                                               Reviewer Comment      08/22/2025                   1          B          A          B          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      days of the Note Date.                                                                             the date of funding. Hazard Insurance Policy Expiration                                                                                               (2025-08-22): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 Date XX/XX/XX and funding date is XX/XX/XX.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 75331878 34709973                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/20/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79878838 34682651                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/16/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75306349 34792447                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/30/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75306349 34793174                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/28/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 74416301 34710931                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/20/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77731331 34729098                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 77731331 34732008                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/17/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            final title policy or an addendum to the preliminary                                                               be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 77731331 34732016                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Copy of Rate lock is Missing.                                                                                                                         Reviewer Comment      10/21/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77731331 34732029                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                Copy of OFAC is missing.                                                                                                                              Reviewer Comment      10/21/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73729637 34546790                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/02/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-02): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 73729637 34547405                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing secondary valuation.                                                                                               Reviewer Comment      10/03/2025                   1          D          A          D          A                OK        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    The provided CU and/or LCA provide relief.                                                                                                            (2025-10-03): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 73729637 34547415                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File does not have Rate Lock document in file.                                                                                                        Reviewer Comment      10/01/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-01): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 73729637 34547454                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/07/2025 2          C          B          C          B                OK        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                                                              (2025-10-07): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 73729637 34547460                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of $0.00 is less                                                                                             Reviewer Comment      10/07/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          than Cash from Borrower $21,660.12. Missing letter from                                                                                               (2025-10-07): XXXXX                                                                                                                  Rate/Term
                                                                                                                Analysis                                                                                                                         company's XXX providing a statement indicating withdrawal
                                                                                                                                                                                                                                                 of the funds will not negatively impact the business OR
                                                                                                                                                                                                                                                 meet XXXXX guidance for cash flow analysis.
[redacted] [redacted] [redacted] [redacted] 73729637 34547467                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      10/07/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Missing letter                                                                                               (2025-10-07): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                                                                       from company's XXX providing a statement indicating
                                                                                                                Discrepancy                                                                                                                      withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.
[redacted] [redacted] [redacted] [redacted] 73729637 34642472                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/03/2025 2                     B                     B                OK        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                                                              (2025-10-03): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 73729637 34701422                         Credit     Borrower and   Borrower       Borrower and   Guideline Issue: Number of properties                                                              DSCR guides allow for 20 financed properties, per 1003,   The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/15/2025 2                     B                     B                OK        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Eligibility    Mortgage       financed exceeds amount allowed by                                                                 borrower has 24 financed properties.                      minimum by at least 40 points.                                                              (2025-10-15): XXXXX                                                                                                                  Rate/Term
                                                                                                 Eligibility                   Eligibility    guidelines.                                                                                                                                                                                                                         SitusAMC
                                                                                                                                                                                                                                                                                                           Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                                                                           exceed the amount required based on the guidelines by at
                                                                                                                                                                                                                                                                                                           least 4 months.
[redacted] [redacted] [redacted] [redacted] 73503551 34660154                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/10/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73503551 34660157                         Credit     Loan Package   Application /  Loan Package   Missing Document: Missing Final 1003                                                               Final 1003 is missing from file.                                                                                                                      Reviewer Comment      10/14/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation                                                                                                                                                                                                                                                           (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 73503551 34660172                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate Lock rate date is blank. Rate Lock document                                                                                              Reviewer Comment      10/14/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           is missing from the file.                                                                                                                             (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 79383171 34665289                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/10/2025 2          B          B          B          B                WI        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided.
                                                                                                                                                                                            disclosure to applicant within three (3) business
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 79383171 34665293                         Credit     Loan Package   Application /  Loan Package   Missing Document: Corporate Resolution not                                                         The file was missing a copy of the required corporate                                                                                                 Reviewer Comment      10/14/2025                   1          C          A          C          A                WI        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           Resolution.                                                                                                                                           (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 79383171 34665295                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the required OFAC.                                                                                                     Reviewer Comment      10/14/2025                   1          C          A          C          A                WI        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 79383171 34665313                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   Borrower's monthly reserves have been verified and       The DSCR of   SitusAMC             Reviewer Comment                        10/17/2025 2          C          B          C          B                WI        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    exceed the amount required based on the guidelines by at 1.24 is                            (2025-10-17): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow  least 4 months.                                          greater than  SitusAMC
                                                                                                                                                                                                                                                 analysis.                                                                                                          the minimum
                                                                                                                                                                                                                                                                                                           Borrowers made a down payment from their own funds on    required DSCR SitusAMC             Reviewer Comment
                                                                                                                                                                                                                                                                                                           this purchase transaction of at least 5% and $5,000.00.  of 1.00.                           (2025-10-15): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  Aggregator
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.                                                              Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
                                                                                                                                                                                                                                                                                                           The qualifying DSCR on the loan is greater than the
                                                                                                                                                                                                                                                                                                           guideline minimum.
[redacted] [redacted] [redacted] [redacted] 79383171 34665329                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Assets for Closing of  $0.00 is less than Cash From                                                                                                   Reviewer Comment      10/17/2025                   1          C          A          C          A                WI        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          Borrower $37,764.34. Due to missing additional assets.                                                                                                (2025-10-17): XXXXX
                                                                                                                Analysis

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 79383171 34665336                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate Lock rate date is not documented in file.                                                                                                Reviewer Comment      10/14/2025                   1          C          A          C          A                WI        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 79383171 34665342                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing secondary valuation.                                                                                               Reviewer Comment      10/14/2025                   1          D          A          D          A                WI        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    The provided CU and/or LCA provide relief.                                                                                                            (2025-10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 79383171 34727812                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        10/14/2025 2                     B                     B                WI        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                           1.24 is                            (2025-10-14): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                               greater than  SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and       the minimum
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at required DSCR Aggregator
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.                                          of 1.00.

                                                                                                                                                                                                                                                                                                           The qualifying DSCR on the loan is greater than the
                                                                                                                                                                                                                                                                                                           guideline minimum.
[redacted] [redacted] [redacted] [redacted] 73645093 34721384                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the document require to                                                                                                Reviewer Comment      10/17/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           Confirm Initial Rate Lock Date.                                                                                                                       (2025-10-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 73645093 34721398                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/16/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 73645093 34721405                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/20/2025                   1          D          A          D          A                CA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-20): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 73645093 34721452                         Credit     Hazard         Insufficient   Hazard         The Hazard Insurance Policy effective date is Hazard Insurance Policy Effective Date ___;          Effective date is after the disbursement date.            The representative FICO score exceeds the guideline      .             Aggregator,SitusAMC  Reviewer Comment                        01/28/2026 2          C          B          C          B                CA        Investment Purchase                              N/A    No
                                                                                                 Insurance      Coverage       Insurance      after the funds disbursed.                    Disbursement Date: ___; Note Date: ___; Transaction                                                            minimum by at least 40 points.                                                              (2025-10-17): XXXXX
                                                                                                                                                                                            Date: ___

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 79848886 34784358                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/29/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-29): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 79848886 34787600                         Credit     Credit         Credit         Guideline      Aged document: Credit Report  is more than 90 -                                                    Credit report is more than 120 days prior to the Note                                                                                                 Reviewer Comment      10/28/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 days prior to the note date.                                                                       date. Credit reports provided are dated XX/XX/XX.                                                                                                     (2025-10-28): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 74365190 34732473                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71928214 34761415                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72609397 34786976                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/27/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78028595 34786826                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/27/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 70327770 34606762                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/06/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70327770 34612269                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/06/2025 2          B          B          B          B                OH        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 70327770 34612287                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/16/2025                   1          D          A          D          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77028545 34659979                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/13/2025                   1          C          A          C          A                VA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77028545 34660719                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the OFAC document.                                                                                                     Reviewer Comment      10/15/2025                   1          C          A          C          A                VA        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 77028545 34660729                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/15/2025                   1          D          A          D          A                VA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 77567986 34784866                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/29/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77567986 34785256                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor                                                                                                                                                                                                  10/27/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to                                                                                                                                                                                                                                                                                                     Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75625786 34677103                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79295846 34673742                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77380287 34698450                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/16/2025                   1          C          A          C          A                VA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74402603 34860646                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74402603 34861653                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    The file is missing documentation confirming the condo                                                                                                Reviewer Comment      11/10/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              project is warrantable.                                                                                                                               (2025-11-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              warrantable.                                                                                                                                                                                                                                                                                                                                                                                  Other
[redacted] [redacted] [redacted] [redacted] 76211455 34858933                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                NJ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70897735 34713594                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      File is missing Evidence of Access to fund.                                                                                                           Reviewer Comment      10/17/2025                   1          C          A          C          A                MO        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                                                                                                                                                                             (2025-10-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 70897735 34713629                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $500.00 are                                                                                                   Reviewer Comment      10/17/2025                   1          C          A          C          A                MO        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $14,148.71. Final                                                                                               (2025-10-17): XXXXX
                                                                                                                Analysis                                                                                                                         1008 reflects $35,500 verified, however, XXXXX bank
                                                                                                                                                                                                                                                 statement not considered since Evidence of Access to fund
                                                                                                                                                                                                                                                 not provided.                                                                                                                                         Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 70897735 34713673                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      10/17/2025                   1          C          A          C          A                MO        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-10-17): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 75884356 34751935                         Credit     Loan Package   Application /  Insurance      Missing Document: Flood Certificate not                                                            File is missing a copy of Flood Certificate document.                                                                                                 Reviewer Comment      11/05/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing                    provided                                                                                                                                                                                                                                                 (2025-11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 75884356 34752088                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/21/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 75884356 34752211                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain documentation confirming the condo                                                                                              Reviewer Comment      11/05/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              is warrantable.                                                                                                                                       (2025-11-05): XXXXX
                                                                                                                                              warrantable.
[redacted] [redacted] [redacted] [redacted] 74964848 34950232                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/18/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74964848 34954476                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      11/13/2025 2          B          B          B          B                SC        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 74964848 34954477                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      11/13/2025 2          B          B          B          B                SC        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 74964848 34967830                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              Missing HUD or settlement statement.                                                                                                                  Reviewer Comment      11/18/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73405818 34953611                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/18/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73405818 34953783                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof the appraisal disclosure was                                                                                                                                       11/13/2025 2          B          B          B          B                SC        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided to the borrower(s) within 3 days of the                                                                                                                                                                                                                                           Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    application date.                                                                                                                                                                                                                                                                          Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 73405818 34953798                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missing a copy of Initial rate lock.                                                                                                      Reviewer Comment      11/14/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73405818 34953830                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              The file is missing a copy of Final Hud/CD.                                                                                                           Reviewer Comment      11/17/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74388546 34951554                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/19/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74388546 34954880                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                    Reviewer Comment      11/18/2025                   1          B          A          B          A                SC        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to consumer.                                                                                                                     (2025-11-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            disclosure to consumer.                                                                                                                                                                                                                                                                                                                         Other
[redacted] [redacted] [redacted] [redacted] 74388546 34954919                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          The file was missing a copy of the Operating Agreement.                                                                                               Reviewer Comment      11/14/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-11-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74388546 34954941                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock rate                                                                                             Reviewer Comment      11/14/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           date.                                                                                                                                                 (2025-11-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74388546 34967937                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              Missing HUD or settlement statement.                                                                                                                  Reviewer Comment      11/14/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74388546 34967957                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of is less than                                                                                                      Reviewer Comment      11/14/2025                   1          C          A          C          A                SC        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-11-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 76046349 34761346                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   The representative FICO score exceeds the guideline      The DSCR of   SitusAMC             Reviewer Comment                        10/27/2025 2          C          B          C          B                PA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    minimum by at least 40 points.                           1.62 is                            (2025-10-27): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow                                                           greater than  Aggregator
                                                                                                                                                                                                                                                 analysis.                                                 The qualifying DSCR on the loan is greater than the      the minimum
                                                                                                                                                                                                                                                                                                           guideline minimum.                                       required DSCR
                                                                                                                                                                                                                                                                                                                                                                    of 1.00.
[redacted] [redacted] [redacted] [redacted] 76046349 34761353                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $5,000.00 are                                                                                                 Reviewer Comment      10/27/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $48,586.01. Final                                                                                               (2025-10-27): XXXXX
                                                                                                                Analysis                                                                                                                         1008 reflects $63,322.39.
[redacted] [redacted] [redacted] [redacted] 76046349 34761355                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Verified liquid assets in the amount of $5,000.00 are                                                                                                 Reviewer Comment      10/27/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       insufficient to meet cash to close of $48,586.01. Final                                                                                               (2025-10-27): XXXXX
                                                                                                                Guidelines                                                                                                                       1008 reflects $63,322.39.
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 79090792 34772947                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/28/2025                   1          D          A          D          A                FL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 79090792 34773093                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate lock document is missing in the file.                                                                                                    Reviewer Comment      10/27/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-27): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 79090792 34837054                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/28/2025 2                     B                     B                FL        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-10-28): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 71286439 34659664                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/09/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71286439 34659665                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof the appraisal disclosure was                                                                                                                                       10/09/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided to the borrower(s) within 3 days of the
                                                                                                                                                                                            disclosure to applicant within three (3) business    application date.
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 71286439 34659721                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/10/2025                   1          D          A          D          A                CA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 71286439 34705045                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/10/2025 2                     B                     B                CA        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-10-10): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The Loan to Value (LTV) on the loan is less than the                   SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 78602111 34712341                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/20/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78602111 34712463                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock rate                                                                                             Reviewer Comment      10/17/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           date.                                                                                                                                                 (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 78602111 34712482                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/17/2025                   1          D          A          D          A                UT        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78602111 34712503                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of the OFAC document.                                                                                                     Reviewer Comment      10/17/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 78602111 34756816                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/17/2025 2                     B                     B                UT        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   than the guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 71565501 34633498                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/08/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-08): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71565501 34633573                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                                                                                                                                                                                     Reviewer Comment      10/10/2025                   1          D          A          D          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                                                                                                                                                                          (2025-10-10): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71565501 34633627                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate Lock rate date is missing                                                                                                                Reviewer Comment      10/09/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-09): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 71565501 34633639                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       Preliminary title document does not state the coverage    Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/07/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount.                                                   document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              amount (no final title policy in file).                                                                                                                                                                               be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                                                                                                                                           as a trailing
                                                                                                                                              is provided.                                                                                                                                                                                                          document
[redacted] [redacted] [redacted] [redacted] 71565501 34633697                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/07/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71565501 34705096                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/10/2025 2                     B                     B                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-10-10): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   than the guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 74633398 34762750                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Waiver Less than 3 ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal delivered to borrower was not                                                                                                  Reviewer Comment                        10/30/2025 2          B          B          B          B                OR        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Days From Consummation                        provided appraisal waiver less than three (3)        found in file.                                                                                                                                        (2025-10-30): XXXXX
                                                                                                                                                                                            business days prior to consummation.

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-27): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 74633398 34762754                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          The file was missing a copy of the required Operating                                                                                                 Reviewer Comment      10/28/2025                   1          C          A          C          A                OR        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           Agreement.                                                                                                                                            (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 75521430 34762585                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                MN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75521430 34762669                         Compliance Compliance     State          Misc. State    Minnesota Residential Mortgage Originator and XXXXX Residential Originator and Servicer Licensing  Financed Fees on subject loan in excess of 5% of Total                                                                                                Reviewer Comment                        10/30/2025 2          B          B          B          B                MN        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Level          Servicer Licensing Act - Financed Points and  Act: Financed Fees on subject loan in excess of 5%   Loan Amount.                                                                                                                                          (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              Fees Exceeds 5% Threshold                     of Total Loan Amount.                                                                                                                                                                                                                                                                                                                           Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-27): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 72959893 34757050                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74818508 34740076                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 74818508 34741953                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/20/2025 2          B          B          B          B                IL        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 78259851 34710040                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/20/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77663020 34717881                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/20/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77663020 34719747                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      10/16/2025 2          B          B          B          B                OH        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 72640834 34650005                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/09/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-09): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71388137 34889777                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/10/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71388137 34891570                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/06/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71388137 34891622                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          File does not have Operating Agreement document in file.                                                                                              Reviewer Comment      11/12/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-11-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 71388137 34891667                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File does not have Rate Lock document in file.                                                                                                        Reviewer Comment      11/07/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 71388137 34915861                         Credit     Hazard         Insufficient   Hazard         The Hazard Insurance Policy Effective Date is                                                      Hazard Insurance Policy effective date XX/XX/XX is after                                                                                              Reviewer Comment      11/12/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Insurance      Coverage       Insurance      after closing.                                                                                     the Note date XX/XX/XX.                                                                                                                               (2025-11-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 74813956 34803145                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/31/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72949364 34803541                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/31/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71656921 34804092                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/31/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71005376 34683024                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/15/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77875061 34950230                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/17/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77875061 34950690                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Appraisal Not Provided at or ECOA Valuations Rule (Dodd-Frank XXXXX): Borrower    Verification appraisal was delivered to borrower was not                                                                                                                                      11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Before Closing (3-Day Waiver In File)         waived right to receive a copy of the appraisal at   provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                                                                            least three (3) business days prior to closing, and                                                                                                                                                                                                                                                                                             Other
                                                                                                                                                                                            appraisal was not provided at or before closing.
[redacted] [redacted] [redacted] [redacted] 77875061 34950693                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        11/20/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.              minimum of 10 days.                                                                                                                                   (2025-11-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77875061 34950721                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      11/19/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-11-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 77875061 34968333                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              Missing HUD or settlement statement.                                                                                                                  Reviewer Comment      11/19/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72191359 34700625                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/16/2025                   1          C          A          C          A                MO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72191359 34700921                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/14/2025 2          B          B          B          B                MO        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72191359 34700943                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/14/2025 2          B          B          B          B                MO        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 77722367 34767080                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/27/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77722367 34768640                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible                                                                                                                                                       Reviewer Comment                        10/30/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum                                                                                                                                                        (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            provides specific language that prepayment penalty                                                                                                                                                                                                                                                                                              Other
                                                                                                                                                                                            will not exceed maximum permitted by applicable law.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 73214206 34795594                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/28/2025 2          B          B          B          B                TX        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71193686 34834539                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/03/2025                   1          C          A          C          A                CT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71193686 34835848                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the rate lock document.                                                                                                Reviewer Comment      11/03/2025                   1          C          A          C          A                CT        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71193686 34835945                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification of appraisal was delivered to borrower was                                                                                                                                       10/30/2025 2          B          B          B          B                CT        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          not provided.                                                                                                                                                                                                                                                                              Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71193686 34835963                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing a copy of the Right to Receive a                                                                                                 Reviewer Comment      11/06/2025                   1          B          A          B          A                CT        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  Copy appraisal.                                                                                                                                       (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            disclosure to consumer.                                                                                                                                                                                                                                                                                                                         Other
[redacted] [redacted] [redacted] [redacted] 71193686 34836007                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated Available for Reserves of 0.00 is less than                                                                                                Reviewer Comment      11/13/2025                   1          C          A          C          A                CT        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline Available for Reserves of 6.                                                                                                                (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 71231571 34727904                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                NJ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71231571 34729579                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification revised appraisal was delivered to borrower                                                                                                                                      10/17/2025 2          B          B          B          B                NJ        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          was not provided.                                                                                                                                                                                                                                                                          Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71231571 34729580                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/17/2025 2          B          B          B          B                NJ        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 77670423 34931712                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/13/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77670423 34933291                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        11/20/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.              minimum of 10 days.                                                                                                                                   (2025-11-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 77670423 34933345                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock rate                                                                                             Reviewer Comment      11/13/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           date.                                                                                                                                                 (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77670423 34933366                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated Available for Reserves of 0 is less than                                                                                                   Reviewer Comment      11/13/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline Available for Reserves of 6.                                                                                                                (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 77670423 34943227                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor                                                                                                                                                                                                  11/11/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal                                                                                                                                                                                                                                                                                             Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business                                                                                                                                                                                                                                                                                               Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 77670423 34954469                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              Missing HUD or settlement statement.                                                                                                                  Reviewer Comment      11/13/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74669303 34750380                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated Available for Reserves of 3.78 is less than                                                                                                Reviewer Comment      10/24/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline Available for Reserves of 6.                                                                                                                (2025-10-24): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 74679835 34745628                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                NJ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76501238 34660025                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Appraisal is                                                            The file is missing a copy of primary appraisal.                                                                                                      Reviewer Comment      10/15/2025                   1          D          A          D          A                PA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      missing. Sec ID: 1                                                                                                                                                                                                                                       (2025-10-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 76501238 34660078                         Credit     Loan Package   Application /  Loan Package   FEMA Disaster Issue: Property is located in a                                                      The property is located in FEMA Disaster area. Provide a                                                                                              Reviewer Comment      10/15/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  FEMA Disaster area and has not been                                                                post-disaster inspection verifying there was no damage.                                                                                               (2025-10-15): XXXXX
                                                                                                                                              inspected.                                                                                         The inspection must include exterior photos and the
                                                                                                                                                                                                                                                 property must be re-inspected on or after XX/XX/XX
                                                                                                                                                                                                                                                 declared end date.
[redacted] [redacted] [redacted] [redacted] 76501238 34660083                         Credit     Property -     Appraisal      Property -     Missing Document: Appraisal not provided                                                           The file was missing a copy of the primary appraisal.                                                                                                 Reviewer Comment      10/15/2025                   1          D          A          D          A                PA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal                                                                                                                                                                                                                                                               (2025-10-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 76501238 34690535                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/15/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-10-15): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 76501238 34690585                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $2,500.00 is                                                                                             Reviewer Comment      10/15/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          less than Cash From Borrower $47,068.07. Missing letter                                                                                               (2025-10-15): XXXXX
                                                                                                                Analysis                                                                                                                         from company's XXX providing a statement indicating
                                                                                                                                                                                                                                                 withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 76501238 34690594                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      10/15/2025                   1          C          A          C          A                PA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Missing letter                                                                                               (2025-10-15): XXXXX
                                                                                                                Guidelines                                                                                                                       from company's XXX providing a statement indicating
                                                                                                                Discrepancy                                                                                                                      withdrawal of the funds will not negatively impact the
                                                                                                                                                                                                                                                 business OR meet XXXXX guidance for cash flow analysis.                                                                                               Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 75267711 34911462                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        11/07/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                            final title policy or an addendum to the preliminary                                                               be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 75267711 34911464                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Rate lock document.                                                                                                Reviewer Comment      11/11/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75267711 34911813                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification of appraisal was delivered to borrower was                                                                                                                                       11/07/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          not provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75267711 34911814                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing a copy of the Right to Receive a                                                                                                 Reviewer Comment      11/11/2025                   1          B          A          B          A                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  Copy of the appraisal.                                                                                                                                (2025-11-11): XXXXX
                                                                                                                                                                                            disclosure to consumer.
[redacted] [redacted] [redacted] [redacted] 75267711 34911816                         Compliance Compliance     State          State Late     XXXXX Non Primary Residence Late Charge Grace XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        11/13/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance     Charge         Period Testing                                less than the state minimum of 10 days.              minimum of 10 days.                                                                                                                                   (2025-11-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 75267711 34911832                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              The file was missing a copy of the HUD/CD.                                                                                                            Reviewer Comment      11/17/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 72362121 34753248                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/29/2025                   1          D          A          D          A                FL        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 74324526 34849657                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/03/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79288753 34766566                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/27/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79597626 34784490                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/29/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79597626 34784706                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible Mortgage loan contains an impermissible prepayment                                                                                                    Reviewer Comment                        11/06/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum  penalty; however, Note or Prepay Addendum provides                                                                                                    (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            provides specific language that prepayment penalty   specific language that prepayment penalty will not exceed                                                                                                                                                                                                                                  Other
                                                                                                                                                                                            will not exceed maximum permitted by applicable law. maximum permitted by applicable law.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 73727805 34792327                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/30/2025                   1          C          A          C          A                VA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78188536 34766564                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/27/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78604859 34761464                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/27/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78604859 34761835                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/22/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 75230018 34775844                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/28/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72427509 34792326                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/30/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72427509 34792640                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/28/2025 2          B          B          B          B                IN        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72839101 34794447                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing the required XXX letter stating that use of funds                                                                                             Reviewer Comment      11/07/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       will not harm the business or cash flow analysis.                                                                                                     (2025-11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 72839101 34794540                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $3,500.00 is                                                                                             Reviewer Comment      11/07/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          less than Cash From Borrower $80,665.84.                                                                                                              (2025-11-07): XXXXX
                                                                                                                Analysis

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-31): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 72839101 34794650                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      11/07/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-11-07): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-31): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 79764636 34882837                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/05/2025 2          B          B          B          B                OK        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79764636 34882849                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      11/07/2025                   1          D          A          D          A                OK        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 73690832 34738561                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73690832 34751579                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $61,885.00. Provide                                                                                                   Reviewer Comment      10/31/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 supporting current coverage amount. Checklist of Coverage
                                                                                                                                                                                                                                                 can be accepted in lieu of RCE in XXXXX.                                                                                                              Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-31): XXXXX
[redacted] [redacted] [redacted] [redacted] 72282106 34890073                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/11/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-11): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72282106 34891038                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock.                                                                                                 Reviewer Comment      11/07/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-07): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 72282106 34891059                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated Available for Reserves of 2.54 is less than    The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        11/13/2025 2          C          B          C          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              Guideline Available for Reserves of  6.00.                minimum by at least 40 points.                                                              (2025-11-13): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 72299168 34785712                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification revised appraisal was delivered to borrower                                                                                                                                      10/27/2025 2          B          B          B          B                GA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          was not provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72299168 34785720                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing rate lock document                                                                                                                    Reviewer Comment      10/29/2025                   1          C          A          C          A                GA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 72299168 34785747                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/29/2025                   1          D          A          D          A                GA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 72299168 34843846                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/29/2025 2                     B                     B                GA        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-10-29): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 77483453 34785944                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing a copy of Initial Rate Lock Date                                                                                                      Reviewer Comment      10/29/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 77483453 34808038                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          A copy of the borrowing business entity Operating                                                                                                     Reviewer Comment      10/29/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           Agreement was missing from loan file.                                                                                                                 (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 77483453 34808048                         Credit     Loan Package   Application /  Loan Package   Missing Document: Corporate Resolution not                                                                                                                                                                                                               Reviewer Comment      11/07/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 78043428 34720151                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      10/27/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-10-27): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 78043428 34720168                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/17/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 78043428 34720192                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement                                                                                               Reviewer Comment      10/27/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively                                                                                                (2025-10-27): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meet XXXXX guidance for cash flow
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 78043428 34720199                         Credit     Asset          Asset          Asset          Missing Document: Gift Letter not provided                                                         The file was missing a copy of the Gift letter for                                                                                                    Reviewer Comment      10/27/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                    $78,500.00                                                                                                                                            (2025-10-27): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-20): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 78043428 34720212                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the rate lock document.                                                                                                Reviewer Comment      10/17/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 78043428 34722984                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $78,259.21 are                                                                                                Reviewer Comment      10/27/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $107,259.21.  Final                                                                                             (2025-10-27): XXXXX
                                                                                                                Analysis                                                                                                                         1008 reflects $106,724.21 verified.

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-20): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 78043428 34756817                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Reviewer Comment                        10/17/2025 2                     B                     B                TX        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  than the guideline maximum by at least 10%.                                                 (2025-10-17): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  guideline maximum by at least 10%.                                     SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 73876992 34752250                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/21/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73876992 34752399                         Credit     Hazard         Insufficient   Hazard         The Hazard Insurance Policy effective date is                                                      The homeowner's insurance declarations page in the file                                                                                               Reviewer Comment      10/22/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                 Insurance      Coverage       Insurance      after the funds disbursed.                                                                         verified an effective date of XX/XX/XX which is after the                                                                                             (2025-10-22): XXXXX
                                                                                                                                                                                                                                                 consummation date of XX/XX/XX. Provide a revised
                                                                                                                                                                                                                                                 homeowner's insurance declaration page or policy
                                                                                                                                                                                                                                                 verifying coverage in effect at or prior to consummation.                                                                                             Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 73876992 34752407                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing a copy of Initial Rate Lock Date                                                                                                      Reviewer Comment      10/22/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-10-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 73876992 34752424                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/21/2025 2          B          B          B          B                CA        Investment Purchase                              N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                              amount (no final title policy in file).                                                            the final title policy or an addendum to the preliminary                                                           be provided
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 73876992 34752438                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/24/2025                   1          D          A          D          A                CA        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 73876992 34795817                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/24/2025 2                     B                     B                CA        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-10-24): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                 as secondary valuation.                                   minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 72276773 34723621                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72276773 34725015                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing secondary valuation.                                                                                               Reviewer Comment      10/17/2025                   1          D          A          D          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    The provided CU and/or LCA provide relief.                                                                                                            (2025-10-17): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72276773 34725023                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Initial Rate Lock rate date is not documented in file.                                                                                                Reviewer Comment      10/17/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-17): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 72276773 34725032                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain documentation confirming the condo                                                                                              Reviewer Comment      10/20/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              is warrantable.                                                                                                                                       (2025-10-20): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              warrantable.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 72276773 34756818                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/17/2025 2                     B                     B                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                                                              (2025-10-17): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 78756236 34879899                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification of appraisal was delivered to borrower was                                                                                                                                       11/05/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          not provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78756236 34896332                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            11/05/2025 2          B          B          B          B                FL        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 73743291 34762269                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/22/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              amount of title insurance coverage.  Provide a copy of    document.                                                Policy will                        (2026-01-21): XXXXX
                                                                                                                                                                                                                                                 the final title policy or an addendum to the preliminary                                                           be provided
                                                                                                                                                                                                                                                 report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                                                                                                                                 amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 79406987 34784629                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/27/2025 2          B          B          B          B                VA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79406987 34784633                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $6,535.33 are                                                                                                 Reviewer Comment      11/13/2025                   1          C          A          C          A                VA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $75,549.59.                                                                                                     (2025-11-13): XXXXX
                                                                                                                Analysis

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 79406987 34784635                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      11/13/2025                   1          C          A          C          A                VA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-11-13): XXXXX
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 78312474 34773780                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/27/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-27): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 78312474 34773820                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              HUD/Closing Disclosure is missing in the file.                                                                                                        Reviewer Comment      10/28/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-10-28): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 78312474 34773847                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal delivered to borrower was not                                                                                                                                          10/23/2025 2          B          B          B          B                NY        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78312474 34773849                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                    Reviewer Comment                        10/30/2025 2          B          B          B          B                NY        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to consumer.                                                                                                                     (2025-10-30): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            disclosure to consumer.
[redacted] [redacted] [redacted] [redacted] 78312474 34773850                         Compliance Compliance     Federal        TRID Defect    Missing Closing Disclosure:  No Document Used Missing Final Closing Disclosure. No document        No document containing fees provided. Any applicable                                                                                                  Reviewer Comment      10/28/2025                   1          D          A          D          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    For Fee Testing                               containing fees provided. Any applicable Federal,    Federal, State or Local compliance testing is unreliable.                                                                                             (2025-10-28): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            State or Local compliance testing is unreliable.

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 77556389 34720362                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71767158 34723016                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 70523309 34674215                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73750189 34719768                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/22/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78724044 34749564                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75419079 34872686                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $65,898.00 are                                                                                                Reviewer Comment      11/11/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $80,277.70.  Final                                                                                              (2025-11-11): XXXXX
                                                                                                                Analysis                                                                                                                         1008 reflects $47,391.39. Due to inadequate documentation
                                                                                                                                                                                                                                                 of business funds.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 75419079 34872687                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0.00 is less than                                                                                                 Reviewer Comment      11/11/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00. Due to                                                                                                       (2025-11-11): XXXXX
                                                                                                                Guidelines                                                                                                                       inadequate documentation of business funds.
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 75419079 34872694                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Missing letter from company's XXX providing a statement   Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        11/11/2025 2          C          B          C          B                TX        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       indicating withdrawal of the funds will not negatively    exceed the amount required based on the guidelines by at                                    (2025-11-11): XXXXX
                                                                                                                                                                                                                                                 impact the business OR meets XXXXX guidance for cash flow least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 analysis.
                                                                                                                                                                                                                                                                                                           Borrowers made a down payment from their own funds on                  SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           this purchase transaction of at least 5% and $5,000.00.                                     11-07): XXXXX

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 70910174 34793660                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/30/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70910174 34796715                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/28/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71794170 34762086                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/23/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71794170 34762123                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $60,800.00. Provide                                                                                                   Reviewer Comment      11/03/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-11-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate                                                                                                                                                                                                                                        Other
                                                                                                                                                                                                                                                 supporting current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 74181269 34761545                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/27/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72437257 34928253                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/10/2025 2          B          B          B          B                OH        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72197086 34776077                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/28/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77047049 34852247                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                CT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77047049 34852404                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification revised appraisal was delivered to borrower                                                                                                                                      11/03/2025 2          B          B          B          B                CT        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          was not provided.                                                                                                                                                                                                                                                                          Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 75154094 34861064                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Loan to value          Calculated loan to value percentage of ___ exceeds   Calculated loan to value percentage of XXX% exceeds       Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        11/07/2025 2          C          B          C          B                WI        Investment Purchase                              N/A    No
                                                                                                 Mortgage       Program        Mortgage       discrepancy.                                  Guideline loan to value percentage of ___.           Guideline loan to value percentage of 80.00000%           exceed the amount required based on the guidelines by at                                    (2025-11-07): XXXXX
                                                                                                 Eligibility    Eligibility    Eligibility                                                                                                                                                                 least 4 months.                                                        SitusAMC

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

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 75154094 34861065                         Credit     Credit         AUS            Guideline      Guideline Requirement: Combined loan to value Calculated combined loan to value percentage of ___  Calculated loan to value percentage of XXX% exceeds       Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        11/07/2025 2          C          B          C          B                WI        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  exceeds Guideline combined loan to value percentage  Guideline loan to value percentage of 80.00000%           exceed the amount required based on the guidelines by at                                    (2025-11-07): XXXXX
                                                                                                                Guidelines                                                                  of ___.                                                                                                        least 4 months.                                                        SitusAMC
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                           Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                                                                           this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 72014687 34767440                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/27/2025                   1          C          A          C          A                NJ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72014687 34772155                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/24/2025 2          B          B          B          B                NJ        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79042799 34733436                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      File is missing a XXX letter indicating withdrawal of     The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/24/2025 2          C          B          C          B                NY        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       business funds will not negatively impact the business OR minimum by at least 40 points.                                                              (2025-10-24): XXXXX
                                                                                                                                                                                                                                                 verification a cash flow analysis was completed to meet
                                                                                                                                                                                                                                                 XXXXX guidance.
[redacted] [redacted] [redacted] [redacted] 79042799 34733438                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation     The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment      10/24/2025                   1          D          A          D          A                NY        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                     minimum by at least 40 points.                                                              (2025-10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 79042799 34733444                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    File does not contain documentation from lender/seller                                                                                                Reviewer Comment      10/27/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              confirming the condo is warrantable.                                                                                                                  (2025-10-27): XXXXX
                                                                                                                                              warrantable.
[redacted] [redacted] [redacted] [redacted] 79042799 34733471                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Verified liquid assets in the amount of $0.00 are         The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment      11/06/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          insufficient to meet cash to close of $653,992.23. Final  minimum by at least 40 points.                                                              (2025-11-06): XXXXX
                                                                                                                Analysis                                                                                                                         1008 reflects $653,992.23 verified, however, missing a
                                                                                                                                                                                                                                                 XXX letter indicating withdrawal of business funds will
                                                                                                                                                                                                                                                 not negatively impact the business.                                                                                                                   Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 79042799 34733488                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Verified liquid assets in the amount of $0.00 are         The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment      11/06/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       insufficient to meet cash to close of $653,992.23. Final  minimum by at least 40 points.                                                              (2025-11-06): XXXXX
                                                                                                                Guidelines                                                                                                                       1008 reflects $653,992.23 verified, however, missing a
                                                                                                                Discrepancy                                                                                                                      XXX letter indicating withdrawal of business funds will
                                                                                                                                                                                                                                                 not negatively impact the business.                                                                                                                   Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 79042799 34795627                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/24/2025 2                     B                     B                NY        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                                                              (2025-10-24): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 78114938 34951330                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/18/2025                   1          C          A          C          A                RI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78114938 34951958                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/13/2025 2          B          B          B          B                RI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78114938 34956646                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/13/2025 2          B          B          B          B                RI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78114938 34956647                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/13/2025 2          B          B          B          B                RI        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79123545 34718891                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/17/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-17): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 79123545 34721849                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 2.78 is less than                                                                                                 Reviewer Comment      10/20/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Guideline PITIA months reserves of 6.00.                                                                                                              (2025-10-20): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 74040859 34950349                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/17/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78891747 34794328                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/04/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78891747 34794356                         Credit     Title          Document Error Title          The Preliminary title policy is within XXXXX                                                       The preliminary title report in file did not disclose the Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        10/28/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              or XXXXX and does not reflect a coverage                                                           amount of title insurance coverage. Provide a copy of the document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              amount (no final title policy in file).                                                            final title policy or an addendum to the preliminary                                                               be provided                                                                                                                                                             Other
                                                                                                                                              Unable to determine if appropriate coverage                                                        report verifying title insurance of at least the loan                                                              as a trailing
                                                                                                                                              is provided.                                                                                       amount.                                                                                                            document
[redacted] [redacted] [redacted] [redacted] 78891747 34794362                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock                                                                                                  Reviewer Comment      10/29/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71072183 34849190                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-06): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71072183 34852735                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        11/04/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 71467194 34851749                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71467194 34851871                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/04/2025 2          B          B          B          B                OH        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 71467194 34851884                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                    The file is missing documentation confirming the condo                                                                                                Reviewer Comment      11/12/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                              project is warrantable.                                                                                                                               (2025-11-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              warrantable.                                                                                                                                                                                                                                                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 71467194 34851887                         Credit     Loan Package   Application /  Loan Package   Missing Document: Missing Final 1003                                                               1003 Final document is missing in the file.                                                                                                           Reviewer Comment      11/10/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation                                                                                                                                                                                                                                                           (2025-11-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 76519561 34745944                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              Final HUD/CD is missing in file.                                                                                                                      Reviewer Comment      06/06/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-06-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-06-02): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       05-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 76519561 34745945                         Credit     Compliance     Miscellaneous  Compliance     Patriot Act Disclosure is missing             -                                                    Patriot Act Disclosure is missing in file                 Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        06/30/2025 2          C          B          C          B                NY        Investment Purchase                              N/A    No
                                                                                                                Compliance                                                                                                                                                                                 this purchase transaction of at least 5% and $5,000.00.                                     (2025-06-30): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.                                     SitusAMC

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 76519561 34745946                         Credit     Loan Package   Application /  Loan Package   The Initial Application was not signed and                                                         The file is missing initial application.                  Borrowers made a down payment from their own funds on                  SitusAMC             Reviewer Comment                        06/30/2025 2          C          B          C          B                NY        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  dated by the borrower, co-borrowers, and the                                                                                                                 this purchase transaction of at least 5% and $5,000.00.                                     (2025-06-30): XXXXX
                                                                                                                                              lender.                                                                                                                                                                                                                             SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.                                     SitusAMC

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 76519561 34745947                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Right to Receive a Copy" appraisal disclosure to                                                                                                      Reviewer Comment                        06/30/2025 2          B          B          B          B                NY        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  applicant within three (3) business days of application                                                                                               (2025-06-30): XXXXX
                                                                                                                                                                                            disclosure to applicant within three (3) business
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 76519561 34745948                         Compliance Compliance     Federal        Missing        Initial Loan Application - Signed and Dated   The initial loan application was not signed and      initial loan application was not signed and dated                                                                                                     Reviewer Comment                        06/30/2025 2          B          B          B          B                NY        Investment Purchase                              N/A    No
                                                                                                                Compliance     Application                                                  dated.                                                                                                                                                                                                     (2025-06-30): XXXXX
                                                                                                                               Date
[redacted] [redacted] [redacted] [redacted] 76849180 34746183                         Credit     Credit         Credit         Credit         There are red flags on the fraud report that  -                                                    There are red flags on the Fraud Report that were not                                                                                                 Reviewer Comment      06/11/2025                   1          C          A          C          A                GA        Investment Purchase                              N/A    No
                                                                                                                Eligibility                   have not been addressed                                                                            addressed.                                                                                                                                            (2025-06-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-06-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       06-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 76849180 34746184                         Credit     Compliance     Miscellaneous  Compliance     Patriot Act Disclosure is missing             -                                                                                                              Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        06/30/2025 2          C          B          C          B                GA        Investment Purchase                              N/A    No
                                                                                                                Compliance                                                                                                                                                                                 exceed the amount required based on the guidelines by at                                    (2025-06-30): XXXXX
                                                                                                                                                                                                                                                                                                           least 4 months.
[redacted] [redacted] [redacted] [redacted] 76849180 34746185                         Credit     Loan Package   Application /  Loan Package   The Initial Application was not signed and                                                         Initial Credit Application is missing in the file.        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        06/30/2025 2          C          B          C          B                GA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  dated by the borrower, co-borrowers, and the                                                                                                                 exceed the amount required based on the guidelines by at                                    (2025-06-30): XXXXX
                                                                                                                                              lender.                                                                                                                                                      least 4 months.
[redacted] [redacted] [redacted] [redacted] 76849180 34746188                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Right to Receive Copy of Appraisal is missing in the                                                                                                  Reviewer Comment                        06/30/2025 2          B          B          B          B                GA        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Missing                  did not provide "Right to Receive a Copy" appraisal  file.                                                                                                                                                 (2025-06-30): XXXXX
                                                                                                                                                                                            disclosure to consumer.
[redacted] [redacted] [redacted] [redacted] 76849180 34746189                         Compliance Compliance     Federal        Missing        Initial Loan Application - Signed and Dated   The initial loan application was not signed and      Initial Credit Application is missing in the file.                                                                                                    Reviewer Comment                        06/30/2025 2          B          B          B          B                GA        Investment Purchase                              N/A    No
                                                                                                                Compliance     Application                                                  dated.                                                                                                                                                                                                     (2025-06-30): XXXXX
                                                                                                                               Date
[redacted] [redacted] [redacted] [redacted] 73638603 34933109                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/13/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74885114 34925100                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof the appraisal disclosure was                                                                                                                                       11/10/2025 2          B          B          B          B                MD        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided to the borrower(s) within 3 days of the
                                                                                                                                                                                            disclosure to applicant within three (3) business    application date.
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 74885114 34925127                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missing a copy of Initial Rate Lock.                                                                                                      Reviewer Comment      11/12/2025                   1          C          A          C          A                MD        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75109803 34918461                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      11/11/2025                   1          D          A          D          A                OK        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75109803 34918464                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missing copy of Rate lock document.                                                                                                       Reviewer Comment      11/11/2025                   1          C          A          C          A                OK        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 75109803 34955695                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        11/11/2025 2                     B                     B                OK        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-11-11): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 76898787 34863438                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missing a copy of Initial rate lock.                                                                                                      Reviewer Comment      11/06/2025                   1          C          A          C          A                FL        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 76709454 34767229                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/27/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-27): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76709454 34767334                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      10/23/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76709454 34767335                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            10/23/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Rate/Term
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 76709454 34767422                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      Rate Lock is missing.                                                                                                                                 Reviewer Comment      10/24/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-10-24): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 76709454 34768238                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated PITIA months reserves of 4.38 is less than     The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        10/29/2025 2          C          B          C          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              Guideline PITIA months reserves of 6.00.                  minimum by at least 40 points.                                                              (2025-10-29): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines
                                                                                                                Discrepancy
[redacted] [redacted] [redacted] [redacted] 78772073 34910527                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/10/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-10): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 78772073 34914002                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file is missing a copy of OFAC report.                                                                                                            Reviewer Comment      11/11/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-11-11): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 78772073 34914007                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      11/11/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-11-11): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 78772073 34914010                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file is missing a copy of initial rate lock document.                                                                                             Reviewer Comment      11/11/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-11): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 78772073 34914025                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $17,030.00 Provide                                                                                                    Reviewer Comment      11/11/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   updated policy reflecting minimum coverage of $XXXXX OR                                                                                               (2025-11-11): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 provide copy of insurer's replacement cost estimate
                                                                                                                                                                                                                                                 supporting current coverage amount.
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 78772073 34914036                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Calculated Available for Reserves of 1.37 is less than    The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Reviewer Comment                        11/11/2025 2          C          B          C          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              Guideline Available for Reserves of 6.                    than the guideline maximum by at least 10%.                                                 (2025-11-11): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                                                                                                                                                                                                        SitusAMC
                                                                                                                Discrepancy                                                                                                                                                                                The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
[redacted] [redacted] [redacted] [redacted] 78772073 34955718                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Reviewer Comment                        11/11/2025 2                     B                     B                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  than the guideline maximum by at least 10%.                                                 (2025-11-11): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  guideline maximum by at least 10%.
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 75078333 34784723                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/29/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75078333 34785623                         Compliance Compliance     State          State Late     XXXXX First Lien Late Charge Grace Period     XXXXX Late Charge: Note grace period of 5 days is    Note grace period of 5 days is less than the state                                                                                                    Reviewer Comment                        10/30/2025 2          B          B          B          B                PA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         Testing                                       less than the state minimum of 15 days.              minimum of 15 days.                                                                                                                                   (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78046145 34852700                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78046145 34852917                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification revised appraisal was delivered to borrower                                                                                                                                      11/04/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          was not provided.                                                                                                                                                                                                                                                                          Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 73160284 34952985                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/18/2025                   1          C          A          C          A                LA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73160284 34954340                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            11/13/2025 2          B          B          B          B                LA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 73160284 34954341                         Compliance Compliance     Federal        Missing        Notice of Special Flood Hazard Disclosure Not FDPA Notification Rule: Creditor did not provide a   Creditor did not provide a Notice of Special Flood Hazard                                                                                             Reviewer Comment                        11/20/2025 2          B          B          B          B                LA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Disclosure     Provided Timely                               Notice of Special Flood Hazard Disclosure within a   Disclosure within a reasonable time prior to closing.                                                                                                 (2025-11-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            reasonable time prior to closing.                                                                                                                                                                                                                                                                                                               Other
[redacted] [redacted] [redacted] [redacted] 76345379 34950898                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/18/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76345379 34954667                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76345379 34954668                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Creditor did not provide "Right to Receive a Copy"                                                                                                                                            11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  appraisal disclosure to applicant within three (3)                                                                                                                                                                                                                                         Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    business days of application or determination of first                                                                                                                                                                                                                                     Other
                                                                                                                                                                                            days of application or determination of first lien   lien status.
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 76345379 34954677                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        11/13/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided                                                                                                                                                             Other
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 72894205 34960136                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/18/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-18): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72894205 34960868                         Credit     Title          General        Title          Title Policy Coverage is less than Original   The Title Policy Amount of ___ is less than the note The preliminary title report in file disclosed an amount  Final Title Policy will be provided as a trailing        Final Title   SitusAMC,Aggregator  Reviewer Comment                        11/14/2025 2          B          B          B          B                TX        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                  amount of ___ based on the ___ in file.              of title insurance coverage that is less than the loan    document.                                                Policy will                        (2026-01-21): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 amount. Provide a copy of the final title policy or an                                                             be provided
                                                                                                                                                                                                                                                 addendum to the preliminary report verifying title                                                                 as a trailing
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                             document
[redacted] [redacted] [redacted] [redacted] 79160151 34873153                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/07/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-07): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 79160151 34873399                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/05/2025 2          B          B          B          B                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 79160151 34873496                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                The file was missing a copy of OFAC.                                                                                                                  Reviewer Comment      11/07/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-11-07): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 79160151 34873525                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of initial rate lock                                                                                                      Reviewer Comment      11/07/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-11-07): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 79160151 34873542                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      11/07/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-11-07): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 79160151 34937009                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        11/07/2025 2                     B                     B                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  years.                                                                                      (2025-11-07): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable                                                                             SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  exceed the amount required based on the guidelines by at               SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   least 4 months.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 76125956 34864216                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                CO        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-06): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76125956 34864344                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      11/07/2025                   1          D          A          D          A                CO        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-11-07): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76125956 34864360                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The document that consist the information of Initial Rate                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                CO        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           Lock rate date is missing in the file. Please provide the                                                                                             (2025-11-06): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 same

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 76125956 34864363                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/04/2025 2          B          B          B          B                CO        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Rate/Term
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76125956 34891640                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Loan to value          Calculated loan to value percentage of ___ exceeds   Calculated loan to value percentage of XXX% exceeds       The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        11/07/2025 2          C          B          C          B                CO        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Program        Mortgage       discrepancy.                                  Guideline loan to value percentage of ___.           Guideline loan to value percentage of 70.00000%.          minimum by at least 40 points.                                                              (2025-11-07): XXXXX                                                                                                                  Rate/Term
                                                                                                 Eligibility    Eligibility    Eligibility

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 76125956 34891641                         Credit     Credit         AUS            Guideline      Guideline Requirement: Combined loan to value Calculated combined loan to value percentage of ___  Calculated combined loan to value percentage of XXX%      The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        11/07/2025 2          C          B          C          B                CO        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  exceeds Guideline combined loan to value percentage  exceeds Guideline combined loan to value percentage of    minimum by at least 40 points.                                                              (2025-11-07): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                  of ___.                                              70.00000%.
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 76125956 34937028                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        11/07/2025 2                     B                     B                CO        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  minimum by at least 40 points.                                                              (2025-11-07): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 79126736 34863973                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/07/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79126736 34864107                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Right to Receive Copy of     ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    The file was missing proof the appraisal disclosure was                                                                                                                                       11/04/2025 2          B          B          B          B                CA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Appraisal Disclosure Not Provided Timely      did not provide "Right to Receive a Copy" appraisal  provided to the borrower(s) within 3 days of the                                                                                                                                                                                                                                           Cash-out -
                                                                                                                                                                                            disclosure to applicant within three (3) business    application date.                                                                                                                                                                                                                                                                          Other
                                                                                                                                                                                            days of application or determination of first lien
                                                                                                                                                                                            status.
[redacted] [redacted] [redacted] [redacted] 79126736 34864145                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing initial rate lock.                                                                                                                    Reviewer Comment      11/06/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 78042781 34918544                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of Initial Rate lock.                                                                                                     Reviewer Comment      11/11/2025                   1          C          A          C          A                NV        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                                                                                                                                                                                 (2025-11-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 78042781 34918546                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      11/11/2025                   1          D          A          D          A                NV        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 78042781 34918568                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/10/2025 2          B          B          B          B                NV        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78042781 34955728                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        11/11/2025 2                     B                     B                NV        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-11-11): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 71237623 34925191                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      The file was missing a copy of the Initial Rate Lock rate                                                                                             Reviewer Comment      11/11/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                                              in file.                                                                                           date.                                                                                                                                                 (2025-11-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 71237623 34925207                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      11/11/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 71237623 34955755                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        11/11/2025 2                     B                     B                TX        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-11-11): XXXXX
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score  Borrowers made a down payment from their own funds on                  SitusAMC
                                                                                                                                                                                                                                                 as secondary valuation.                                   this purchase transaction of at least 5% and $5,000.00.
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                            SitusAMC

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 72932093 34889649                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/11/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72932093 34890035                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Loan is to be securitized. Missing secondary valuation.                                                                                               Reviewer Comment      11/07/2025                   1          D          A          D          A                PA        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    The provided CU and/or LCA provide relief.                                                                                                            (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72932093 34890064                         Credit     Credit         General        Credit         Initial Rate Lock rate date is not documented                                                      File is missing a copy of Initial Rate Lock Date                                                                                                      Reviewer Comment      11/11/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                                              in file.                                                                                           document.                                                                                                                                             (2025-11-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 72932093 34890077                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/06/2025 2          B          B          B          B                PA        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.                                                                                                                                                                                                                                                                                  Cash-out -
                                                                                                                                              Consummation                                  applicant three (3) business days prior to                                                                                                                                                                                                                                                                                                      Other
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 72932093 34937087                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Per guidelines loan amounts < $2,000,000 require a        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        11/07/2025 2                     B                     B                PA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 secondary valuation product. Secondary valuation must be  exceed the amount required based on the guidelines by at                                    (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 within -10% tolerance of appraised value. Acceptable      least 4 months.                                                                                                                                                                                                                  Other
                                                                                                                                                                                                                                                 products are: XXXXX or Enhanced Desk Review OR Field
                                                                                                                                                                                                                                                 Review OR A 2nd full appraisal. Lender provided CU score
                                                                                                                                                                                                                                                 as secondary valuation.
[redacted] [redacted] [redacted] [redacted] 78425166 34877756                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      11/10/2025                   1          D          A          D          A                AZ        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 78425166 34878511                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor    Verification appraisal was delivered to borrower was not                                                                                                                                      11/05/2025 2          B          B          B          B                AZ        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to          provided.
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 78425166 34880123                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  The file was missing a copy of the required appraisal                                                                                                 Reviewer Comment      11/13/2025                   1          C          A          C          A                AZ        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 form 1004report dated within 120days of Note date                                                                                                     (2025-11-13): XXXXX
                                                                                                                                                                                                                                                 (XX/XX/XX). Currently, present appraisal report in file
                                                                                                                                                                                                                                                 dated XX/XX/XXwhich is post Note date. Please provide
                                                                                                                                                                                                                                                 appraisal report dated within 120days of Note date.                                                                                                   Seller Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 78425166 34981154                         Compliance Compliance     Federal        ECOA           ECOA Appraisal - Copy of Appraisal Not        ECOA Valuations Rule (Dodd-Frank XXXXX): Creditor                                                                                                                                                                                                  11/13/2025 2                     B                     B                AZ        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Provided 3 Business Days Prior to             did not provide a copy of each valuation to
                                                                                                                                              Consummation                                  applicant three (3) business days prior to
                                                                                                                                                                                            consummation.
[redacted] [redacted] [redacted] [redacted] 76563712 34836117                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/08/2025                   1          C          A          C          A                LA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76563712 34836119                         Credit     Guideline      General        Guideline      DSCR does not meet guideline requirements.                                                         All documents in file reflects subject property street                                                                                                Reviewer Comment      09/09/2025                   1          C          A          C          A                LA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 address as "XXXXX" however as per collaterals documents                                                                                               (2025-09-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 (title, appraisal, HOI, Flood, CPL) street address is                                                                                                                                                                                                                                      Other
                                                                                                                                                                                                                                                 "XXXXX", XXXXX search is also reflecting same address as
                                                                                                                                                                                                                                                 collateral documents. Provide updated Note, Security                                                                                                  Buyer Comment (2025-
                                                                                                                                                                                                                                                 instrument, AUS, 1003, 1008, and CD with the correct                                                                                                  09-05): XXXXX
                                                                                                                                                                                                                                                 street address as "XXXXX Street".

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-26): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 76563712 34836120                         Credit     Loan Package   Application /  Loan Package   Missing Document: Missing Final 1003                                                               Section 5 of the 1003 states the borrower will occupy the                                                                                             Reviewer Comment      08/14/2025                   1                     A                     A                LA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation                                                                                                     subject property as a primary residence. Provide an                                                                                                   (2025-08-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 updated 1003.                                                                                                                                                                                                                                                                              Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 73405905 34836312                         Credit     Insurance      Insurance      Insurance      Insurance address does not match Note                                                              Required corrected Hazard Insurance to reflect correct                                                                                                Reviewer Comment      09/03/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Analysis                      address.                                                                                           Zip XXXXX.                                                                                                                                            (2025-09-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 73405905 34836314                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    The fraud report provided is for the borrower                                                                                                         Reviewer Comment      09/03/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                    "individually". Guides require a fraud report for the                                                                                                 (2025-09-03): XXXXX
                                                                                                                                                                                                                                                 entity. Required Business Fraud reports of "XXXXX" from
                                                                                                                                                                                                                                                 one of the following agencies: XXXXX, XXXXX, XXXXX,
                                                                                                                                                                                                                                                 XXXXX.                                                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 77491591 34836343                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/17/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-17): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 77455636 34836503                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/12/2025                   1          C          A          C          A                LA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77455636 34836504                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                Fraud report for the entity "XXXXX" is missing in file.                                                                                               Reviewer Comment      09/18/2025                   1          C          A          C          A                LA        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-09-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 77455636 34836506                         Compliance Compliance     Federal        Missing        Notice of Special Flood Hazard Disclosure Not FDPA Notification Rule: Creditor did not provide a   Creditor did not provide a Notice of Special Flood Hazard                                                                                             Reviewer Comment      09/18/2025                   1          B          A          B          A                LA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Disclosure     Provided Timely                               Notice of Special Flood Hazard Disclosure within a   Disclosure within a reasonable time. Flood cert is dated                                                                                              (2025-09-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            reasonable time prior to closing.                    XX/XX/XX.                                                                                                                                                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 73769557 35161187                         Credit     Guideline      General        Guideline      DSCR does not meet guideline requirements.                                                         Third party fraud report for business entity "XXXXX" not                                                                                              Reviewer Comment      09/24/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 provided as per guide                                                                                                                                 (2025-09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 73769557 35161188                         Credit     Guideline      Guideline      Guideline      Ineligible Property Type per the guidelines.                                                       Escrow Holdback in the amount of $20,784 present on                                                                                                   Reviewer Comment      10/27/2025                   1          C          A          C          A                OH        Investment Purchase                              N/A    No
                                                                                                                Issue                                                                                                                            Seller  Closing Disclosure (for repairs) & sales contract                                                                                             (2025-10-27): XXXXX
                                                                                                                                                                                                                                                 addendum. Escrow Holdback not allowed. Any inadequacies
                                                                                                                                                                                                                                                 determined by the appraisal must be remediated prior to
                                                                                                                                                                                                                                                 closing per guide. Client to review and advise for                                                                                                    Buyer Comment (2025-
                                                                                                                                                                                                                                                 acceptability.                                                                                                                                        10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 75621011 35161190                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/07/2025                   1          D          A          D          A                MI        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 75621011 35161191                         Credit     Loan Package   Application /  Loan Package   Missing Document: Certificate of Good                                                              Certificate of Good Standing is missing in file for                                                                                                   Reviewer Comment      10/07/2025                   1          C          A          C          A                MI        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  Standing not provided                                                                              XXXXX.                                                                                                                                                (2025-10-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 75621011 35161192                         Credit     Loan Package   Closing /      Loan Package   Missing Document: Closing Protection Letter                                                        Closing Protection Letter is missing in file.                                                                                                         Reviewer Comment      10/03/2025                   1          C          A          C          A                MI        Investment Purchase                              N/A    No
                                                                                                 Documentation  Title          Documentation  not provided                                                                                                                                                                                                                                             (2025-10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 75621011 35161194                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          Corporate Resolution/operating agreement is missing in                                                                                                Reviewer Comment      10/13/2025                   1          C          A          C          A                MI        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           file for XXXXX.                                                                                                                                       (2025-10-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 75621011 35161195                         Credit     Credit         Credit         Guideline      Missing Document: Asset not provided                                                               Required XXX letter indicating withdrawal of the funds                                                                                                Reviewer Comment      10/31/2025                   1          C          A          C          A                MI        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                    will not negatively impact the business.                                                                                                              (2025-10-31): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-31): XXXXX
[redacted] [redacted] [redacted] [redacted] 75621011 35161197                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                A third-party fraud report is required for the entity and                                                                                             Reviewer Comment      10/29/2025                   1          C          A          C          A                MI        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                    was not provided                                                                                                                                      (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 75621011 35161198                         Credit     Loan Package   Application /  Loan Package   Missing Document: Note Addendum - Prepayment                                                       Subject transaction locked with 1-year prepayment,                                                                                                    Reviewer Comment      10/09/2025                   1                     A                     A                MI        Investment Purchase                              N/A    Yes
                                                                                                 Documentation  Processing     Documentation  not provided                                                                                       calculated at 1%. Loan delivered with no prepayment                                                                                                   (2025-10-09): XXXXX
                                                                                                                                                                                                                                                 penalty documentation. Subject transaction will be re-
                                                                                                                                                                                                                                                 priced with no prepayment penalty. Please confirm subject
                                                                                                                                                                                                                                                 transaction has no prepayment penalty.
[redacted] [redacted] [redacted] [redacted] 72786580 35161200                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/08/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72786580 35161202                         Credit     Insurance      Insurance      Insurance      Insurance address does not match Note                                                              Provided HOI for the subject property reflects the                                                                                                    Reviewer Comment      10/24/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      address.                                                                                           address as "XXXXX", however, as per note and appraisal                                                                                                (2025-10-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 its reflecting as "XXXXX", provide an HOI with correct                                                                                                                                                                                                                                     Other
                                                                                                                                                                                                                                                 address.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 72786580 35161203                         Credit     Missing        General        Missing        Missing Document: Lease Agreement not                                                              Provided lease agreements are expired. Please provide                                                                                                 Reviewer Comment      10/31/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       provided                                                                                           current lease agreements as there is no month to month                                                                                                (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 verbiage.                                                                                                                                                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 73086928 35161206                         Compliance Compliance     Federal        Missing        Disparity In Occupancy - Investment Loans     Loan does not qualify for Investment Loans scope     As per appraisal 1004 document occupant type is                                                                                                       Reviewer Comment      10/16/2025                   1          C          A          C          A                NM        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Required Data                                                because the Final 1003 does not indicate that the    reflecting as "owner", however as per occupancy                                                                                                       (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                               (other than                                                  property will be an Investment Property or the Final certificate reflecting as "Not owner occupied," 1003's                                                                                                                                                                                                                                     Other
                                                                                                                               HUD-1 or Note)                                               1003 Declarations, Valuation or Occupancy            indicated will not occupy as primary residence, corrected
                                                                                                                                                                                            Certificate indicates the borrower intends to occupy appraisal required                                                                                                                                    Buyer Comment (2025-
                                                                                                                                                                                            the subject property.                                                                                                                                                                                      10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 73086928 35161207                         Credit     Hazard         Insufficient   Hazard         The Hazard Insurance Policy effective date is                                                      Insurance not active at time of closing                                                                                                               Reviewer Comment      10/03/2025                   1          C          A          C          A                NM        Investment Refinance -                           N/A    No
                                                                                                 Insurance      Coverage       Insurance      after the funds disbursed.                                                                                                                                                                                                                               (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-02): XXXXX
[redacted] [redacted] [redacted] [redacted] 73086928 35161208                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/30/2025                   1          C          A          C          A                NM        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76310715 35161209                         Credit     Credit         Credit         Credit         Absence of Business Purpose Certificate                                                            Business Purpose Certificate is missing in file.                                                                                                      Reviewer Comment      10/27/2025                   1          C          A          C          A                CT        Investment Purchase                              N/A    No
                                                                                                                Documentation                 and/or Non-Owner Occupancy Declaration and/or                                                                                                                                                                                                            (2025-10-27): XXXXX
                                                                                                                                              UW Business Purpose Analysis and thus casts
                                                                                                                                              doubt on the business purpose of the loan.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 76310715 35161210                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                Fraud Report is missing for XXXXX.                                                                                                                    Reviewer Comment      10/24/2025                   1          C          A          C          A                CT        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 76310715 35161212                         Credit     Loan Package   Application /  Loan Package   Missing Document: Certificate of Good                                                              Certificate of Good Standing is missing in file.                                                                                                      Reviewer Comment      10/14/2025                   1          C          A          C          A                CT        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  Standing not provided                                                                                                                                                                                                                                    (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 76310715 35161213                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Missing evidence Mtg ending XXXXX payment made                                                                                                        Reviewer Comment      10/16/2025                   1          C          A          C          A                CT        Investment Purchase                              N/A    No
                                                                                                                Issue                         required.                                                                                                                                                                                                                                                (2025-10-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 79236176 35161216                         Credit     Loan Package   Application /  Missing        Missing Document: Tax Certificate not                                                              Require Tax Certificate for subject property.                                                                                                         Reviewer Comment      10/24/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document       provided                                                                                                                                                                                                                                                 (2025-10-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 79236176 35161217                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/22/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74081900 35161219                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/02/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74081900 35161220                         Credit     Legal /        Title / Lien   Legal /        Final Title Policy is missing. No evidence of                                                      Final and Preliminary / Title commitment report is                                                                                                    Reviewer Comment      10/10/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                 Regulatory /   Defect         Regulatory /   title in file.                                                                                     missing in file                                                                                                                                       (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                 Compliance                    Compliance                                                                                                                                                                                                                                                                                                                                                                                                   Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 74081900 35161221                         Credit     Loan Package   Closing /      Loan Package   Mising Document: Closing Protection Letter                                                         Closing Protection Letter is missing in file                                                                                                          Reviewer Comment      10/10/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Documentation  not provided.                                                                                                                                                                                                                                            (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 74081900 35161222                         Credit     Loan Package   Closing /      Title          Title: Evidence of title is missing                                                                Final and Preliminary / Title commitment report is                                                                                                    Reviewer Comment      10/10/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title                                                                                                                            missing in file                                                                                                                                       (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 74081900 35161223                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                Fraud report for entity "XXXXX" is missing in file.                                                                                                   Reviewer Comment      10/24/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 74081900 35161225                         Credit     Missing        General        Missing        Missing Document: Lease Agreement not                                                              Lease agreement provided shows landlord name as XXXXX and                                                                                             Reviewer Comment      10/31/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       provided                                                                                           lease term as year, however end date of the lease                                                                                                     (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 provided as XX/XX/XX. Provide a valid lease that reflects                                                                                                                                                                                                                                  Other
                                                                                                                                                                                                                                                 the correct end date and landlord name.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 74081900 35161226                         Credit     Loan Package   Application /  Loan Package   Missing Document: Missing Final 1003                                                               Final 1003 is missing in file                                                                                                                         Reviewer Comment      10/10/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation                                                                                                                                                                                                                                                           (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 74081900 35161228                         Credit     Loan Package   Application /  Missing        Missing Document: Tax Certificate not                                                              Provide Tax certificate that confirms the annual tax as                                                                                               Reviewer Comment      10/14/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document       provided                                                                                           $XXXXX / $XXXXX monthly                                                                                                                               (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 74081900 35161229                         Credit     Missing        General        Missing        Missing Document: HUD/CD (Initial Purchase)                                                        Delayed financing - as per guide, provide settlement                                                                                                  Reviewer Comment      10/10/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       not provided                                                                                       statement or Final CD / Final HUD, which confirms that no                                                                                             (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 mortgage financing was used to obtain the subject                                                                                                                                                                                                                                          Other
                                                                                                                                                                                                                                                 property.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 74081900 35161230                         Credit     Missing        General        Missing        Missing Document: Source of Funds for the                                                          Delayed financing - The sources of funds for the purchase                                                                                             Reviewer Comment      10/16/2025                   1          C          A          C          A                AL        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       Initial Purchase not provided                                                                      transaction (initial purchase) such as bank statements,                                                                                               (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 personal loan documents, or a HELOC on another property                                                                                                                                                                                                                                    Other
                                                                                                                                                                                                                                                 is required.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 79524171 35161233                         Credit     Credit         Credit         Credit         Absence of Business Purpose Certificate                                                            The Business Purpose Certificate in the file was not                                                                                                  Reviewer Comment      10/14/2025                   1          C          A          C          A                UT        Investment Purchase                              N/A    No
                                                                                                                Documentation                 and/or Non-Owner Occupancy Declaration and/or                                                      filled out.                                                                                                                                           (2025-10-14): XXXXX
                                                                                                                                              UW Business Purpose Analysis and thus casts
                                                                                                                                              doubt on the business purpose of the loan.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 79524171 35161235                         Credit     Loan Package   Application /  Loan Package   Missing Document: Note Addendum - Prepayment                                                       The prepayment rider and addendum are missing.                                                                                                        Reviewer Comment      10/29/2025                   1          C          A          C          A                UT        Investment Purchase                              N/A    Yes
                                                                                                 Documentation  Processing     Documentation  not provided                                                                                                                                                                                                                                             (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 79524171 35161236                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Provide the updated credit history for the borrowers                                                                                                  Reviewer Comment      10/14/2025                   1          C          A          C          A                UT        Investment Purchase                              N/A    No
                                                                                                                Issue                         required.                                                                                          primary residence with XXXXX showing DLA XX/XX/XX.                                                                                                    (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 79524171 35161237                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Provide the updated credit history for the borrower's                                                                                                 Reviewer Comment      10/14/2025                   1                     A                     A                UT        Investment Purchase                              N/A    No
                                                                                                                Issue                         required.                                                                                          primary residence with XXXXX showing DLA XX/XX/XX.                                                                                                    (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 78067636 35161239                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Provide XXX letter or cash flow analysis indicating the                                                                                               Reviewer Comment      11/07/2025                   1                     A                     A                TX        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       not provided                                                                                       use withdrawal of funds in XXXXX will not negatively                                                                                                  (2025-11-07): XXXXX
                                                                                                                                                                                                                                                 impact the business.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 78355231 35161240                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/31/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71118353 35161242                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Fraud report is missing in file for XXXXX and entity                                                                                                  Reviewer Comment      10/17/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                    XXXXX                                                                                                                                                 (2025-10-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 71118353 35161244                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                OFAC is missing in file.                                                                                                                              Reviewer Comment      10/09/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 71118353 35161245                         Credit     Loan Package   Application /  Loan Package   Missing Document: Lender Exception(s) not                                                          Lender exception is provided in file for VOR however rent Borrower's monthly reserves have been verified and       31 vs 6       SitusAMC,Aggregator  Reviewer Comment                        10/09/2025 2          C          B          C          B                NY        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           receipts of last 12 months is provided. (Lender exception exceed the amount required based on the guidelines by at                                    (2025-10-09): XXXXX
                                                                                                                                                                                                                                                 request provided is not shown as approved). Confirm       least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 acceptable for downgrade consideration.
                                                                                                                                                                                                                                                                                                           Borrowers made a down payment from their own funds on                  SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           this purchase transaction of at least 5% and $5,000.00.                                     10-07): XXXXX

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 71118353 35161246                         Credit     Credit         Credit         Credit         Borrower does not own current residence and                                                        Missing: For DSCR loans, clarified 12 months investor                                                                                                 Reviewer Comment      10/17/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Documentation                 thus casts doubt on business purpose of loan.                                                      experience must be within the past 24 months.                                                                                                         (2025-10-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 71118353 35161247                         Credit     Credit         Credit         Guideline      Aged document: Credit Report  is more than 90 -                                                    Credit report was 121 days old at time of closing, Guides                                                                                             Reviewer Comment      10/24/2025                   1                     A                     A                NY        Investment Purchase                              N/A    No
                                                                                                                Documentation                 days prior to the note date.                                                                       allow up to 120 days.                                                                                                                                 (2025-10-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 74820669 35161253                         Credit     Loan Package   Application /  Loan Package   Missing Document: Bylaws not provided                                                              Require Bylaws for "XXXXX"                                                                                                                            Reviewer Comment      10/31/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation                                                                                                                                                                                                                                                           (2025-10-31): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 74820669 35161254                         Credit     Loan Package   Application /  Loan Package   Missing Document: Certificate of Good                                                              Require Certificate of Good Standing for "XXXXX"                                                                                                      Reviewer Comment      10/16/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  Standing not provided                                                                                                                                                                                                                                    (2025-10-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 74820669 35161255                         Credit     Loan Package   Application /  Loan Package   Missing Document: Corporate Resolution not                                                         Require Corporate Resolution for "XXXXX"                                                                                                              Reviewer Comment      10/31/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-10-31): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 74820669 35161256                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        The fraud report provided is for the borrower                                                                                                         Reviewer Comment      10/16/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          "individually". Guides require a fraud report for the                                                                                                 (2025-10-16): XXXXX
                                                                                                                                                                                                                                                 entity. Required Business Fraud reports of "XXXXX" from
                                                                                                                                                                                                                                                 one of the following agencies: XXXXX, XXXXX, XXXXX,
                                                                                                                                                                                                                                                 XXXXX.                                                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 74340019 35161257                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/16/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74340019 35161258                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        Missing fraud report for entity                                                                                                                       Reviewer Comment      10/22/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                                                                                                                                                                                (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 74340019 35161259                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Missing fraud report individual.                                                                                                                      Reviewer Comment      10/22/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 74340019 35161261                         Credit     Insurance      Insurance      Insurance      Rent loss insurance is required on all                                                             Rent loss coverage is not provided and is required.                                                                                                   Reviewer Comment      10/29/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 properties and there is no evidence of this                                                                                                                                                                                                              (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              insurance in the file.                                                                                                                                                                                                                                                                                                                                                                        Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-27): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 74340019 35161262                         Credit     Loan Package   Loan File      Missing        Missing Document: Hazard Insurance Policy not                                                      Hazard Insurance policy is incomplete with no premium                                                                                                 Reviewer Comment      10/21/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                 Documentation                 Document       provided                                                                                           amount mentioned, verify premium amount used, $9,884.57.                                                                                              (2025-10-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 73272336 35161264                         Credit     System         General        Appraisal      Valuation address does not match Note         -                                                    Appraisal Report Subject property address "XXXXX" not                                                                                                 Reviewer Comment      10/28/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                               Reconciliation address.                                                                                           matching with " Note address "XXXXX"                                                                                                                  (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 73272336 35161265                         Credit     System         General        Appraisal      Valuation address does not match Note         -                                                    XXXXX report Subject property address "XXXXX" not                                                                                                     Reviewer Comment      10/28/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                               Reconciliation address.                                                                                           matching with " Note address "XXXXX"                                                                                                                  (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 73272336 35161266                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Fraud report not provided for borrower "XXXXX"                                                                                                        Reviewer Comment      10/28/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 73272336 35161268                         Credit     Guideline      Guideline      Guideline      Experience level does not meet the guideline                                                       LENDER EXCEPTION Provided. Borrower living rent free is                                                                                               Reviewer Comment      10/29/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Issue                         requirements for an experienced investor.                                                          acceptable, as borrower whose spouse has the mortgage in                                                                                              (2025-10-29): XXXXX
                                                                                                                                                                                                                                                 only their name but can verify payments are coming from a
                                                                                                                                                                                                                                                 joint accounts or who have other mortgaged properties
                                                                                                                                                                                                                                                 with satisfactory most recent 12 month pay histories- are                                                                                             Buyer Comment (2025-
                                                                                                                                                                                                                                                 excluded from rent free restrictions. However, it does                                                                                                10-27): XXXXX
                                                                                                                                                                                                                                                 not appear that the borrower has the 12 months required
                                                                                                                                                                                                                                                 relevant experience which would require an investor
                                                                                                                                                                                                                                                 exception. Review for acceptability and downgrade
                                                                                                                                                                                                                                                 consideration.
[redacted] [redacted] [redacted] [redacted] 73719590 35161269                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/20/2025                   1          C          A          C          A                ID        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77074757 35161272                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/20/2025                   1          C          A          C          A                ID        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77074757 35161273                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Require a XXXXX with or without MLS from XXXXX for each                                                                                               Reviewer Comment      11/03/2025                   1          D          A          D          A                ID        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    loan that does not include two appraisals.                                                                                                            (2025-11-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-31): XXXXX
[redacted] [redacted] [redacted] [redacted] 78520966 35161279                         Credit     Credit         Credit         Credit         Absence of Business Purpose Certificate                                                            Business Purpose Certificate is missing in file.                                                                                                      Reviewer Comment      10/24/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 and/or Non-Owner Occupancy Declaration and/or                                                                                                                                                                                                            (2025-10-24): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              UW Business Purpose Analysis and thus casts
                                                                                                                                              doubt on the business purpose of the loan.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 78520966 35161280                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/08/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-08): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 78520966 35161281                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Provide updated history for subject property for XXXXX,                                                                                               Reviewer Comment      10/22/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         required.                                                                                          the credit report DLA is XX/XX/XX.                                                                                                                    (2025-10-22): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 70871765 35161284                         Credit     Loan Package   Application /  Loan Package   Missing Document: Note Addendum - Prepayment                                                       The CD reflects a prepay. Provide a rider or addendum                                                                                                 Reviewer Comment      10/29/2025                   1          C          A          C          A                UT        Investment Purchase                              N/A    Yes
                                                                                                 Documentation  Processing     Documentation  not provided                                                                                       showing the prepayment penalty.                                                                                                                       (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 70871765 35161285                         Compliance Note           General        Note           Prepayment Penalty Discrepancy                                                                     Subject transaction locked with 1-year prepayment,                                                                                                    Reviewer Comment      10/29/2025                   1                     A                     A                UT        Investment Purchase                              N/A    No
                                                                                                                                                                                                                                                 calculated at 5%. Loan delivered with no prepayment                                                                                                   (2025-10-29): XXXXX
                                                                                                                                                                                                                                                 penalty documentation. Subject transaction will be re-
                                                                                                                                                                                                                                                 priced with no prepayment penalty. Please confirm subject
                                                                                                                                                                                                                                                 transaction has no prepayment penalty                                                                                                                 Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 72592729 35161286                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/23/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72592729 35161288                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                The fraud report provided is for the borrower                                                                                                         Reviewer Comment      11/05/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                    "individually". Guides require a fraud report for the                                                                                                 (2025-11-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 entity XXXX.                                                                                                                                                                                                                                                                               Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 72592729 35161289                         Credit     Loan Package   Closing /      Loan Package   Title search shows negative impact on title.                                                       Title reflects a judgment for $XXX. Missing evidence this                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Documentation                                                                                                     judgment is satisfied or does not belong to our borrower.                                                                                             (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 72592729 35161290                         Credit     Credit         Credit         Credit         Absence of Business Purpose Certificate                                                            BPC provided, occupancy section "will not be                                                                                                          Reviewer Comment      10/29/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 and/or Non-Owner Occupancy Declaration and/or                                                      occupied"section was not completed.                                                                                                                   (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              UW Business Purpose Analysis and thus casts                                                                                                                                                                                                                                                                                                                                                   Other
                                                                                                                                              doubt on the business purpose of the loan.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 73083322 35161291                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Fraud report is missing in file for both borrowers.                                                                                                   Reviewer Comment      10/09/2025                   1          C          A          C          A                KS        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 73083322 35161293                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      10/24/2025                   1          D          A          D          A                KS        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-10-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 73083322 35161295                         Credit     Credit         Credit         Credit         Missing Document: OFAC not provided                                                                OFAC is missing in file.                                                                                                                              Reviewer Comment      10/09/2025                   1          C          A          C          A                KS        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 73083322 35161296                         Credit     Missing        General        Missing        Missing Document: Explanation Letter not                                                           Required LOX for large deposit of $168,191.51 for XXXXX                                                                                               Reviewer Comment      10/09/2025                   1          C          A          C          A                KS        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       provided                                                                                           of XX/XX/XX.                                                                                                                                          (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 73083322 35161297                         Credit     Loan Package   Application /  Loan Package   Missing Document: Purchase Agreement / Sales                                                       CPL, title report & purchase contract reflects subject                                                                                                Reviewer Comment      10/31/2025                   1          D          A          D          A                KS        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  Contract not provided                                                                              property address incorrect zip code, required updated                                                                                                 (2025-10-31): XXXXX
                                                                                                                                                                                                                                                 CPL, title report and purchase contract or sales addendum
                                                                                                                                                                                                                                                 with correct zip code as "XXXXX".
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-31): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-15): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 73083322 35161298                         Credit     Loan Package   Application /  Loan Package   Missing Document: Lender Exception(s) not                                                          Lender exception reflects real estate investor experience Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/10/2025 2          C          B          C          B                KS        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           is less than 12 months, exception not approved in file.   exceed the amount required based on the guidelines by at                                    (2025-10-10): XXXXX
                                                                                                                                                                                                                                                 Review and confirm if acceptable for downgrade            least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 consideration
                                                                                                                                                                                                                                                                                                           Borrowers made a down payment from their own funds on                  SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           this purchase transaction of at least 5% and $5,000.00.                                     10-09): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                            SitusAMC

                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 70971097 35161299                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/27/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70971097 35161301                         Credit     Loan Package   Loan File      Missing        Missing Document: Hazard Insurance Policy not                                                      Require Hazard Insurance Policy for subject property.                                                                                                 Reviewer Comment      10/31/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation                 Document       provided                                                                                                                                                                                                                                                 (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 70971097 35161302                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        The fraud report provided is for the borrower                                                                                                         Reviewer Comment      10/31/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          "individually". Guides require a fraud report for the                                                                                                 (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 entity. Required Business Fraud reports of "XXXXX" from                                                                                                                                                                                                                                    Other
                                                                                                                                                                                                                                                 one of the following agencies: XXXXX, XXXXX, XXXXX,
                                                                                                                                                                                                                                                 XXXXX.                                                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 70971097 35161303                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Lender has used appraisal value of $650,000, However                                                                                                  Reviewer Comment      10/31/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 there is no supporting document to support this value.                                                                                                (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 73576550 35161305                         Credit     Credit         Credit         Credit         Absence of Business Purpose Certificate                                                            Business Purpose Certificate is missing in file.                                                                                                      Reviewer Comment      10/30/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Documentation                 and/or Non-Owner Occupancy Declaration and/or                                                                                                                                                                                                            (2025-10-30): XXXXX
                                                                                                                                              UW Business Purpose Analysis and thus casts
                                                                                                                                              doubt on the business purpose of the loan.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 73576550 35161307                         Credit     Loan Package   Application /  Loan Package   Missing Document: Guarantor Agreement not                                                          Guarantor Agreement is missing in file. Per guidelines,                                                                                               Reviewer Comment      10/28/2025                   1          D          A          D          A                TX        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           One or more members representing at least 51% ownership                                                                                               (2025-10-28): XXXXX
                                                                                                                                                                                                                                                 of the entity must provide a Personal Guarantee. The
                                                                                                                                                                                                                                                 Guaranty must be executed as an individual at loan
                                                                                                                                                                                                                                                 closing and dated the same date as the Note or the loan                                                                                               Buyer Comment (2025-
                                                                                                                                                                                                                                                 will be ineligible for purchase.                                                                                                                      10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 73576550 35161308                         Credit     Guideline      Guideline      Guideline      Experience level does not meet the guideline                                                       First time investor, less than 12 months experience last  Borrower's monthly reserves have been verified and       87 vs 6       SitusAMC,Aggregator  Reviewer Comment                        10/09/2025 2                     B                     B                TX        Investment Purchase                              N/A    No
                                                                                                                Issue                         requirements for an experienced investor.                                                          24 months.                                                exceed the amount required based on the guidelines by at                                    (2025-10-09): XXXXX
                                                                                                                                                                                                                                                                                                           least 4 months.                                                        SitusAMC

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

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 75535464 35161309                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/16/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75535464 35161310                         Credit     Credit         Credit         Credit         Absence of Business Purpose Certificate                                                            Business Purpose Certificate not provided.                                                                                                            Reviewer Comment      10/29/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 and/or Non-Owner Occupancy Declaration and/or                                                                                                                                                                                                            (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              UW Business Purpose Analysis and thus casts                                                                                                                                                                                                                                                                                                                                                   Other
                                                                                                                                              doubt on the business purpose of the loan.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 75535464 35161312                         Credit     Fraud          General        Fraud          Medium - Fraud Alert identified on Fraud                                                           The fraud report provided is for the borrower                                                                                                         Reviewer Comment      10/27/2025                   1          B          A          B          A                PA        Investment Refinance -                           N/A    No
                                                                                                                                              Report                                                                                             "individually". Guides require a fraud report for the                                                                                                 (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 entity XXXXX.                                                                                                                                                                                                                                                                              Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 75535464 35161313                         Credit     Borrower and   Mortgage /     Borrower and   Guideline Requirement: Loan to value          Calculated loan to value percentage of ___ exceeds   Original LTV not meeting the guideline LTV. Refinances of The qualifying DSCR on the loan is greater than the      The DSCR of   SitusAMC,Originator  Reviewer Comment                        10/21/2025 2          C          B          C          B                PA        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Program        Mortgage       discrepancy.                                  Guideline loan to value percentage of ___.           Unleased Properties: 5% LTV reduction applied for         guideline minimum.                                       1.26 is       Pre-Close            (2025-10-21): XXXXX                                                                                                                  Cash-out -
                                                                                                 Eligibility    Eligibility    Eligibility                                                                                                       unleased property ( 75% - 5% = 70% ) as per Guideline's                                                            greater than                                                                                                                                                            Other
                                                                                                                                                                                                                                                 requirement.                                                                                                       the minimum
                                                                                                                                                                                                                                                                                                                                                                    required DSCR                      Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                    of 1.00.                           10-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 75535464 35161314                         Credit     Credit         AUS            Guideline      Guideline Requirement: Combined loan to value Calculated combined loan to value percentage of ___  Original CLTV not meeting the guideline LTV. Refinances   The qualifying DSCR on the loan is greater than the      The DSCR of   SitusAMC,Originator  Reviewer Comment                        10/21/2025 2          C          B          C          B                PA        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  exceeds Guideline combined loan to value percentage  of Unleased Properties: 5% CLTV reduction applied for     guideline minimum.                                       1.26 is       Pre-Close            (2025-10-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                  of ___.                                              unleased property ( XX% - 5% = XX% ) as per Guideline's                                                            greater than                                                                                                                                                            Other
                                                                                                                Discrepancy                                                                                                                      requirement.                                                                                                       the minimum
                                                                                                                                                                                                                                                                                                                                                                    required DSCR                      Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                    of 1.00.                           10-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 75535464 35161315                         Credit     Guideline      Guideline      Guideline      Experience level does not meet the guideline                                                       Borrower not meeting the guidelines requirement of 12     The qualifying DSCR on the loan is greater than the      The DSCR of   SitusAMC,Originator  Reviewer Comment                        11/06/2025 2          C          B          C          B                PA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         requirements for an experienced investor.                                                          months investor experience which must be within the past  guideline minimum.                                       1.26 is       Pre-Close            (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 24 months. Subject Investment property "XXXXX" purchased                                                           greater than                                                                                                                                                            Other
                                                                                                                                                                                                                                                 on XX/XX/XX. Other REO property have been sold in XXXXX   The representative FICO score exceeds the guideline      the minimum   Aggregator
                                                                                                                                                                                                                                                 and XXXXX prior to 24 months.                             minimum by XX points.                                    required DSCR                      Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                    of 1.00.                           11-05): XXXXX

                                                                                                                                                                                                                                                                                                                                                                    703 vs 680
[redacted] [redacted] [redacted] [redacted] 70000492 35161317                         Compliance Note           General        Note           Prepayment Penalty Discrepancy                                                                     Final CD indicates loan has prepayment penalty, however                                                                                               Reviewer Comment      10/28/2025                   1          B          A          B          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 file does not contain prepayment penalty addendum or                                                                                                  (2025-10-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 rider.                                                                                                                                                                                                                                                                                     Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 70000492 35161318                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/14/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77422702 35161319                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/30/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77422702 35161320                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               A XXXXX is required and was not provided. MS                                                                                                          Reviewer Comment      10/08/2025                   1          D          A          D          A                UT        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                                                                                                                                                                          (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 77422702 35161321                         Credit     Credit         Credit         Credit         Absence of Business Purpose Certificate                                                            Business Purpose Certificate is missing in file.                                                                                                      Reviewer Comment      10/08/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 and/or Non-Owner Occupancy Declaration and/or                                                                                                                                                                                                            (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              UW Business Purpose Analysis and thus casts                                                                                                                                                                                                                                                                                                                                                   Other
                                                                                                                                              doubt on the business purpose of the loan.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 77422702 35161323                         Credit     Missing        General        Missing        Missing Document: Cash-Out Utilization not                                                         Cash-Out Utilization document is missing in file. XXXXX                                                                                               Reviewer Comment      10/08/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       provided                                                                                           to clear this issue                                                                                                                                   (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 77422702 35161324                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Missing Verification of Mortgage for XXXXX & XXXXX for                                                                                                Reviewer Comment      10/13/2025                   1          C          A          C          A                UT        Investment Refinance -                           N/A    No
                                                                                                                Issue                         required.                                                                                          XXXXX XXXXX. Date of Last payment is XX/XX/XX. On the                                                                                                 (2025-10-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 Credit Report date, the existing mortgage(s) must be                                                                                                                                                                                                                                       Other
                                                                                                                                                                                                                                                 current, which means that no more than 45 days have
                                                                                                                                                                                                                                                 elapsed since the last paid installment date.                                                                                                         Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 76364902 35161326                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/28/2025                   1          C          A          C          A                VA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77783163 35161327                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/03/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71778824 35161328                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/28/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71778824 35161330                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Missing evidence of XXXXX payment for mortgage acct#                                                                                                  Reviewer Comment      11/05/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         required.                                                                                          XXXXX. (45 day lookback)                                                                                                                              (2025-11-05): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 71778824 35161331                         Credit     Loan           Guideline      Loan           Delayed Financing: Subject loan did not close                                                      Subject closed within 6 months of last purchase which was                                                                                             Reviewer Comment      10/30/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Eligibility    Issue          Eligibility    within the required time-frame (vs. previous                                                       XXXXX per XXX. New loan is XXXXX + costs meeting guide                                                                                                (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              transaction), per guideline requirements.                                                          requirements and was locked/priced as cash out. Missing                                                                                                                                                                                                                                    Other
                                                                                                                                                                                                                                                 settlement statement from XXXXX XXXXX purchase
                                                                                                                                                                                                                                                 documenting purchase was paid in cash and source funds                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                 for the purchase.                                                                                                                                     10-28): XXXXX
[redacted] [redacted] [redacted] [redacted] 76047687 35161332                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/31/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-31): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76047687 35161333                         Credit     Title          General        Title          Title Policy Coverage is less than Original                                                        The preliminary title report in file disclosed $XXXXX of                                                                                              Reviewer Comment      10/31/2025                   1          B          A          B          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              Loan Amount.                                                                                       title insurance coverage; however this is less than the                                                                                               (2025-10-31): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 loan amount of $XXXXX.  Provide a copy of the final title
                                                                                                                                                                                                                                                 policy or a supplemental title report verifying title
                                                                                                                                                                                                                                                 insurance of at least the loan amount.                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-31): XXXXX
[redacted] [redacted] [redacted] [redacted] 76047687 35161335                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $469,720.00. Must be the                                                                                              Reviewer Comment      10/31/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   lesser of: 100% of the replacement cost value of the                                                                                                  (2025-10-31): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 improvements as of the current property insurance policy
                                                                                                                                                                                                                                                 effective date, or the unpaid principal balance of the
                                                                                                                                                                                                                                                 loan, provided it equals no less than 80% of the                                                                                                      Buyer Comment (2025-
                                                                                                                                                                                                                                                 replacement cost value of the improvements as of the                                                                                                  10-30): XXXXX
                                                                                                                                                                                                                                                 current property insurance policy effective date.
[redacted] [redacted] [redacted] [redacted] 76566200 35161336                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Properties XXXXX & XXXXX are missing XX/XX/XX current                                                                                                 Reviewer Comment      10/31/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         required.                                                                                          payments, XXXXX and XXXXX.                                                                                                                            (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 76566200 35161338                         Credit     Loan Package   Application /  Missing        Missing Document: Tax Certificate not                                                              Require tax certificate reflecting the tax.                                                                                                           Reviewer Comment      10/28/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document       provided                                                                                                                                                                                                                                                 (2025-10-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 76566200 35161339                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/22/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73024426 35161341                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/09/2025                   1          C          A          C          A                OR        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73024426 35161342                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Per guidelines, a XXXXX is required with 1 appraisal.                                                                                                 Reviewer Comment      10/23/2025                   1          D          A          D          A                OR        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    Missing XXXXX.                                                                                                                                        (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-22): XXXXX
[redacted] [redacted] [redacted] [redacted] 73024426 35161344                         Credit     Loan Package   Closing /      Loan Package   Missing Document: Rider - 1-4 Family not                                                           Rider - 1-4 Family, MERS Rider and Prepayments Rider is                                                                                               Reviewer Comment      10/16/2025                   1          C          A          C          A                OR        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Documentation  provided                                                                                           available in file, however signature is missing.                                                                                                      (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 73024426 35161345                         Credit     Loan Package   Closing /      Missing        Missing Document: Security Instrument -                                                            Security Instrument - Subject Lien document available in                                                                                              Reviewer Comment      10/16/2025                   1          D          A          D          A                OR        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Document       Subject Lien not provided                                                                          file, however signature is missing.                                                                                                                   (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX
[redacted] [redacted] [redacted] [redacted] 73024426 35161346                         Credit     Missing        General        Missing        Missing Document: Lease Agreement not                                                              A lender exception request form was provided due to not   Borrower's monthly reserves have been verified and       13 vs 6       SitusAMC,Aggregator  Reviewer Comment                        10/24/2025 2          C          B          C          B                OR        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       provided                                                                                           having the original lease and only having the rent        exceed the amount required based on the guidelines by at                                    (2025-10-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 increase contract. Provide the exception approval.        least 4 months.                                                        SitusAMC                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                           Borrower has owned the subject property for at least 5                 SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           years.                                                                                      10-22): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Combined Loan to Value (CLTV) on the loan is less
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                            SitusAMC             Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-17): XXXXX
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline                                         10-15): XXXXX
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 73894506 35161349                         Credit     Missing        General        Missing        Missing Document: HUD/CD (Asset) not provided                                                      HUD/CD is missing for XXXXX for amount $200,000.00.                                                                                                   Reviewer Comment      10/29/2025                   1          C          A          C          A                GA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 73894506 35161353                         Credit     Loan Package   Application /  Missing        Missing Document: Other not provided                                                               Missing mortgage history no more than 45 days have                                                                                                    Reviewer Comment      10/29/2025                   1          C          A          D          A                GA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          elapsed since the last paid installment date.Acct# XXXXX                                                                                              (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 73894506 35161354                         Credit     Loan Package   Application /  Missing        Missing Document: Other not provided                                                               Missing mortgage history no more than 45 days have                                                                                                    Reviewer Comment      10/29/2025                   1          C          A          D          A                GA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          elapsed since the last paid installment date.Acct# XXXXX                                                                                              (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 73894506 35161355                         Credit     Loan Package   Application /  Missing        Missing Document: Other not provided                                                               Missing mortgage history no more than 45 days have                                                                                                    Reviewer Comment      10/29/2025                   1          C          A          D          A                GA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          elapsed since the last paid installment date.Acct# XXXXX                                                                                              (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 73894506 35161356                         Credit     Loan Package   Application /  Missing        Missing Document: Other not provided                                                               Missing mortgage history no more than 45 days have                                                                                                    Reviewer Comment      10/29/2025                   1          C          A          D          A                GA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          elapsed since the last paid installment date.Acct# XXXXX                                                                                              (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 73894506 35161357                         Credit     Loan Package   Application /  Missing        Missing Document: Other not provided                                                               Missing mortgage history no more than 45 days have                                                                                                    Reviewer Comment      10/28/2025                   1          C          A          D          A                GA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          elapsed since the last paid installment date.Acct# XXXXX                                                                                              (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 73983041 35161359                         Compliance Note           General        Note           Prepayment Penalty Discrepancy                Final TIL / CD indicates loan has PPP, however file  There are 2 different PPP Note Addendums and PPP Rider                                                                                                Reviewer Comment      10/24/2025                   1                     A                     A                AL        Investment Purchase                              N/A    No
                                                                                                                                                                                            does not contain prepayment penalty addendum.        calculated at 1 year 5% and 1 year 6 months. Require an                                                                                               (2025-10-24): XXXXX
                                                                                                                                                                                            Missing prepay data XXXXX result in invalid high     attestation letter to have the incorrect prepay addendum
                                                                                                                                                                                            cost, XXXXX, and/or QM points and fees findings.     destroyed with a corrected Security Instrument removing
                                                                                                                                                                                                                                                 the extra rider (if applicable) with a letter of intent                                                                                               Buyer Comment (2025-
                                                                                                                                                                                                                                                 to re-record along with a corrected PCCD with the updated                                                                                             10-22): XXXXX
                                                                                                                                                                                                                                                 prepayment calculations if applicable.
[redacted] [redacted] [redacted] [redacted] 77078368 35161360                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Missing fraud report.                                                                                                                                 Reviewer Comment      10/31/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-10-31): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 77078368 35161363                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/20/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74470932 35161364                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/23/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74470932 35161366                         Credit     Guideline      Guideline      Guideline      Red flag warning list hit.                    Additional review of county required.                Additional review of county required.                                                                                                                 Reviewer Comment      10/27/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                                                                                                                            Security Instrument County: XXXXX.                                                                                                                    (2025-10-27): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            Security Instrument County: ___.                                                                                                                                                                                                                                                                                                                Other
[redacted] [redacted] [redacted] [redacted] 72583771 35161367                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/03/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78742327 35161374                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      11/03/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-11-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-01): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-23): XXXXX
[redacted] [redacted] [redacted] [redacted] 78742327 35161375                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible Mortgage loan contains an impermissible prepayment                                                                                                    Buyer Comment (2025-                    10/22/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum  penalty; however, Note or Prepay Addendum provides                                                                                                    10-22): XXXXX                                                                                                                        Cash-out -
                                                                                                                                                                                            provides specific language that prepayment penalty   specific language that prepayment penalty will not exceed                                                                                                                                                                                                                                  Other
                                                                                                                                                                                            will not exceed maximum permitted by applicable law. maximum permitted by applicable law.
[redacted] [redacted] [redacted] [redacted] 78742327 35161377                         Credit     Guideline      Guideline      Guideline      Red flag warning list hit.                    Additional review of county required.                Additional review of county required.                                                                                                                 Reviewer Comment      11/03/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                                                                                                                            Security Instrument County: XXXXX.                                                                                                                    (2025-11-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            Security Instrument County: ___.                                                                                                                                                                                                                                                                                                                Other
[redacted] [redacted] [redacted] [redacted] 73524130 35161379                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/23/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73524130 35161380                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $13,260.00. Coverage must                                                                                             Reviewer Comment      11/06/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   be at least the lessor of the Cost new from the appraisal                                                                                             (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 or the loan amount.  Provide verification of policy with                                                                                                                                                                                                                                   Other
                                                                                                                                                                                                                                                 sufficient coverage OR provide copy of insurer's
                                                                                                                                                                                                                                                 replacement cost estimate supporting current coverage                                                                                                 Buyer Comment (2025-
                                                                                                                                                                                                                                                 amount.                                                                                                                                               11-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 73524130 35161382                         Credit     Property -     General        Property -     Valuation Error: XXX's  state certification                                                        Require valid XXX's License certificate.                                                                                                              Reviewer Comment      10/30/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Appraisal      Appraisal      or license number not provided.                                                                                                                                                                                                                          (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                Requirements                                                                                                                                                                                                                                                                                                                                                                                                                Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 75206151 35161384                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/29/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-29): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 75206151 35161385                         Compliance TRID           Document Error TRID           Closing Disclosure: Dates are not in          - Issue Date: ___; Received Date: ___; Signed Date:  Closing Disclosure dated XX/XX/XX was signed by the                                                                                                   Buyer Comment (2025-                    10/31/2025 2          B          B          B          B                AZ        Investment Refinance -                           N/A    No
                                                                                                                                              chronological order.                          ___                                                  borrower on XX/XX/XX.                                                                                                                                 10-31): XXXXX                                                                                                                        Rate/Term
[redacted] [redacted] [redacted] [redacted] 71823327 35161387                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        The fraud report provided is for the borrower                                                                                                         Reviewer Comment      10/24/2025                   1          C          A          C          A                LA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          "individually". Guides require a fraud report for the                                                                                                 (2025-10-24): XXXXX
                                                                                                                                                                                                                                                 entity XXXXX.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 71823327 35161388                         Credit     Loan Package   Application /  Missing        Missing Document: Tax Certificate not                                                              Tax Cert provided reflects $XXXXX/year and the actual                                                                                                 Reviewer Comment      10/28/2025                   1          C          A          C          A                LA        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Document       provided                                                                                           taxes used to qualify are $XXXXX/year. MS                                                                                                             (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 71823327 35161389                         Credit     Credit         Credit         Guideline      Missing Document: Asset not provided                                                               Guidelines require the source of any earnest money                                                                                                    Reviewer Comment      10/24/2025                   1          C          A          C          A                LA        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                    deposits must be verified with a copy of the Borrower's                                                                                               (2025-10-24): XXXXX
                                                                                                                                                                                                                                                 check or other evidence of payment (wire receipt) from a
                                                                                                                                                                                                                                                 third party unaffiliated with the transaction along with
                                                                                                                                                                                                                                                 one (1) month bank statements (up to and including the                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                 date the check was cleared). Bank statements must                                                                                                     10-24): XXXXX
                                                                                                                                                                                                                                                 evidence a sufficient average balance to support the
                                                                                                                                                                                                                                                 amount of the earnest money deposit. Missing Wire Receipt
                                                                                                                                                                                                                                                 from Third Party.
[redacted] [redacted] [redacted] [redacted] 73928874 35161393                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty XXXXX          XXXXX SB270:  Alternate prepayment penalty testing   Alternate prepayment penalty testing methodology utilized                                                                                             Buyer Comment (2025-                    10/24/2025 2          B          B          B          B                MD        Investment Purchase                              N/A    No
                                                                                                                Compliance                    Investment Test                               methodology utilized under {section}12-105(c)(4)     under {section}12-105(c)(4) allowing prepays over                                                                                                     10-24): XXXXX
                                                                                                                                                                                            allowing prepays over prescribed limits to be        prescribed limits to be treated as interest, with amounts
                                                                                                                                                                                            treated as interest, with amounts under the limit    under the limit not as interest.
                                                                                                                                                                                            not as interest.  Alternate testing was deemed
                                                                                                                                                                                            acceptable by SitusAMC outside counsel given the
                                                                                                                                                                                            ambiguity in the state law.
[redacted] [redacted] [redacted] [redacted] 78348364 35161394                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/29/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78348364 35161396                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        The fraud report provided is for the borrower                                                                                                         Reviewer Comment      11/04/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          "individually". Guides require a fraud report for the                                                                                                 (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 entity. Required Business Fraud reports of "XXXXX" from                                                                                                                                                                                                                                    Other
                                                                                                                                                                                                                                                 one of the following agencies: XXXXX, XXXXX, XXXXX,
                                                                                                                                                                                                                                                 XXXXX.                                                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 78348364 35161397                         Compliance Compliance     Federal        Missing        Notice of Special Flood Hazard Disclosure Not FDPA Notification Rule: Creditor did not provide a   Disclosure was provided at closing.                                                                                                                   Buyer Comment (2025-                    11/03/2025 2          B          B          B          B                PA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Disclosure     Provided Timely                               Notice of Special Flood Hazard Disclosure within a                                                                                                                                                         11-03): XXXXX                                                                                                                        Cash-out -
                                                                                                                                                                                            reasonable time prior to closing.                                                                                                                                                                                                                                                                                                               Other
[redacted] [redacted] [redacted] [redacted] 76494629 35161405                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/30/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73957249 35161411                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/23/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71173946 35278509                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/06/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71173946 35278511                         Credit     Loan Package   Closing /      Loan Package   Mising Document: Closing Protection Letter                                                         Closing Protection Letter is missing in file.                                                                                                         Reviewer Comment      08/12/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Documentation  not provided.                                                                                                                                                                                                                                            (2025-08-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 71173946 35278513                         Credit     Document       General        Document       Final Inspection / 442 does not reflect all                                                        XXX's comments states property has damaged sliding,                                                                                                   Reviewer Comment      09/29/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Inventory                     Inventory      required repairs or property completion                                                            broken planter, failing casement windows and peeling                                                                                                  (2025-09-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              requirements.                                                                                      exterior paint. Replacement windows have been purchased                                                                                                                                                                                                                                    Other
                                                                                                                                                                                                                                                 but not installed. Provide form 442 or updated appraisal
                                                                                                                                                                                                                                                 with XXX comments stating the issues have been addressed.                                                                                             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 74187753 35278522                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/02/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 74187753 35278523                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Guidelines require a XXXXX with 1 appraisal.  The XXXXX                                                                                               Reviewer Comment      10/07/2025                   1          D          A          D          A                AZ        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    was not provided.                                                                                                                                     (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 74187753 35278526                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Guidelines require a 12-month housing history on the                                                                                                  Reviewer Comment      09/09/2025                   1          C          A          C          A                AZ        Investment Refinance -                           N/A    No
                                                                                                                Issue                         required.                                                                                          subject property, primary residence and all additional                                                                                                (2025-09-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 financed properties. All payment histories must reflect                                                                                                                                                                                                                                    Other
                                                                                                                                                                                                                                                 0X30 measured from the credit report date. On the credit
                                                                                                                                                                                                                                                 report date, the existing mortgage(s) must be current,                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                 which means that no more than 45 days have elapsed since                                                                                              09-05): XXXXX
                                                                                                                                                                                                                                                 the last paid installment date. Credit Report Date is
                                                                                                                                                                                                                                                 XX/XX/XX. Missing VOM for XXXXX for XXXXX XXXXX.  No
                                                                                                                                                                                                                                                 Mortgage Statement provided.
[redacted] [redacted] [redacted] [redacted] 76856708 35278527                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/12/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76856708 35278529                         Property   Valuation      Valuation      Valuation      XXXXX program guidelines require a XXXXX                                                           Borrower's incorrect name "XXXXX" reflecting on XXXXX.                                                                                                Reviewer Comment      09/22/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         (Desk Review)                                                                                      Require corrected XXXXX to reflect correct name "XXXXX"                                                                                               (2025-09-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 77932336 35278539                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Documented qualifying Assets for Closing of  $503,918.48                                                                                              Reviewer Comment      10/01/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          is less than Cash From Borrower $506,042.70. Require more                                                                                             (2025-10-01): XXXXX
                                                                                                                Analysis                                                                                                                         assets to meet the requirement as assets are insufficient
                                                                                                                                                                                                                                                 for Closing.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 77932336 35278542                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Reserves not meeting the guideline requirement of 6                                                                                                   Reviewer Comment      10/01/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       months.                                                                                                                                               (2025-10-01): XXXXX
                                                                                                                Guidelines                                                                                                                       Documented qualifying Assets for Closing of  $503,918.48
                                                                                                                Discrepancy                                                                                                                      is less than Cash From Borrower $506,042.70. Require more
                                                                                                                                                                                                                                                 assets to meet the requirement as assets are insufficient                                                                                             Buyer Comment (2025-
                                                                                                                                                                                                                                                 for Closing.                                                                                                                                          09-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 72114018 35278543                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                Fraud Report is missing for XXXXX.                                                                                                                    Reviewer Comment      09/25/2025                   1          C          A          C          A                ID        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 72114018 35278546                         Credit     Loan Package   Application /  Loan Package   Missing Document: Articles of                                                                      Articles of Organization/Formation not found at time of                                                                                               Reviewer Comment      09/18/2025                   1          C          A          C          A                ID        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  Organization/Formation not provided                                                                review, (associated Certificate of Existence/Filing).                                                                                                 (2025-09-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 76289513 35278562                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/28/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-28): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76289513 35278563                         Credit     Insurance      Insurance      Insurance      Insurance Policy Expiration Date is less than                                                      Provided hazard insurance expires on XX/XX/XX. As per                                                                                                 Reviewer Comment      09/25/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 30 days of the Note Date and does not have                                                         Guideline, the policy must be effective for at least 60                                                                                               (2025-09-25): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              automatic renewal.                                                                                 days after the date of funding. Require updated hazard
                                                                                                                                                                                                                                                 insurance policy with correct policy duration.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 76289513 35278565                         Credit     Guideline      Guideline      Guideline      Short Term Rental Property and documentation                                                       Loan is a rate and term refinance. Property is being used Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/03/2025 2          C          B          C          B                AR        Investment Refinance -                           N/A    No
                                                                                                                Issue                         was not provided covering the prior 12 month                                                       a short term rental < 12 months STR history, Lender       exceed the amount required based on the guidelines by at                                    (2025-09-03): XXXXX                                                                                                                  Rate/Term
                                                                                                                                              period, the property is considered unleased                                                        exception provided to allow short term < 12 months and to least 4 months.                                                        SitusAMC
                                                                                                                                              and is only eligible for the No DSCR program.                                                      use market rents. Confirm acceptance for downgrade
                                                                                                                                              Verify the data or set the exception.                                                              consideration.                                            The Combined Loan to Value (CLTV) on the loan is less                  SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           than the guideline maximum by at least 10%.                                                 08-29): XXXXX
                                                                                                                                                                                                                                                                                                                                                                                  SitusAMC
                                                                                                                                                                                                                                                                                                           The Loan to Value (LTV) on the loan is less than the
                                                                                                                                                                                                                                                                                                           guideline maximum by at least 10%.

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 76289513 35278566                         Credit     Loan Package   Application /  Loan Package   Missing Document: Background Check not                                                             The fraud report provided is for the borrower                                                                                                         Reviewer Comment      09/10/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           "individually". Guides require a fraud report for the                                                                                                 (2025-09-10): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 entity. Required Business Fraud reports of "XXXXX" from
                                                                                                                                                                                                                                                 one of the following agencies: XXXXX, XXXXX, XXXXX,
                                                                                                                                                                                                                                                 XXXXX.                                                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 76289513 35278567                         Compliance Compliance     Federal        Missing        Disparity In Occupancy - Investment Loans     Loan does not qualify for Investment Loans scope     Subject occupancy is owner occupied as per Appraisal                                                                                                  Reviewer Comment      09/16/2025                   1          C          A          C          A                AR        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Required Data                                                because the Final 1003 does not indicate that the    report. Subject is refinance transaction, require updated                                                                                             (2025-09-16): XXXXX                                                                                                                  Rate/Term
                                                                                                                               (other than                                                  property will be an Investment Property or the Final appraisal report reflecting correct occupancy.
                                                                                                                               HUD-1 or Note)                                               1003 Declarations, Valuation or Occupancy
                                                                                                                                                                                            Certificate indicates the borrower intends to occupy                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                            the subject property.                                                                                                                                                                                      09-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 76731359 35278579                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/15/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76731359 35278581                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          Operating Agreement for ""XXXXX" not provided.                                                                                                        Reviewer Comment      09/24/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-09-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-19): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 76731359 35278583                         Credit     Guideline      General        Guideline      DSCR does not meet guideline requirements.                                                         Third-party fraud report is required for the entity                                                                                                   Reviewer Comment      09/19/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 "XXXXX" per guide.                                                                                                                                    (2025-09-19): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 76731359 35278584                         Credit     Guideline      Guideline      Guideline      Red flag warning list hit.                    Additional review of county required.                Loan has excluded party.                                                                                                                              Reviewer Comment      09/17/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                                                                                                                                                                                                                                                                                  (2025-09-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            Security Instrument County: ___.                                                                                                                                                                                                                                                                                                                Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-17): XXXXX
[redacted] [redacted] [redacted] [redacted] 76731359 35278585                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible XXXXX SB270 Prepayment Penalty Mortgage loan contains an                                                                                              Buyer Comment (2025-                    09/16/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum  impermissible prepayment penalty                                                                                                                      09-16): XXXXX                                                                                                                        Cash-out -
                                                                                                                                                                                            provides specific language that prepayment penalty                                                                                                                                                                                                                                                                                              Other
                                                                                                                                                                                            will not exceed maximum permitted by applicable law.
[redacted] [redacted] [redacted] [redacted] 73230557 35278586                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/12/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-12): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 73230557 35278588                         Credit     System         General        System         Flood Certificate Subject Address does not                                                         Flood cert reflects address as XXXXX instead of the                                                                                                   Reviewer Comment      09/25/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              match Note address.                                                                                property address "XXXXX. Corrected Flood cert with                                                                                                    (2025-09-25): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 updated subject property address is required.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 72532923 35278589                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/28/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72532923 35278591                         Credit     Guideline      Guideline      Guideline      Minimum of 600 square feet of gross living                                                         Property has Square ft size of 576 which is less than the Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        09/03/2025 2          B          B          B          B                WI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         area required per company guidelines.                                                              minimum of 600 square feet of gross living area required  exceed the amount required based on the guidelines by at                                    (2025-09-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 as per guidelines.                                        least 4 months.                                                        SitusAMC                                                                                                                                                  Other

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 72532923 35278592                         Property   Valuation      Valuation      Valuation      XXXXX program guidelines require a XXXXX                                                           A XXXXX is required and was not provided. An XXXXX                                                                                                    Reviewer Comment      10/03/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         (Desk Review)                                                                                      automated valuation model report by XXXXX was provided.                                                                                               (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 The XXXXX report is not a XXXXX.                                                                                                                                                                                                                                                           Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 77835198 35278650                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/12/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-12): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 77835198 35278652                         Credit     Missing        General        Missing        Incomplete Document: 1003 Final is incomplete                                                      1003 in file shows borrower to occupy property as primary                                                                                             Reviewer Comment      09/22/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                          residence, provide corrected 1003.                                                                                                                    (2025-09-22): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 74361512 35278653                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/09/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71312547 35278655                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/03/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71312547 35278656                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        The fraud report provided is for the borrower                                                                                                         Reviewer Comment      10/10/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          "individually". Guides require a fraud report for the                                                                                                 (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 entity. Required Business Fraud reports of "XXXXX" from                                                                                                                                                                                                                                    Other
                                                                                                                                                                                                                                                 one of the following agencies: XXXXX, XXXXX, XXXXX,
                                                                                                                                                                                                                                                 XXXXX.                                                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 71312547 35278657                         Credit     Business       General        Business       Missing Document: Spousal Consent not         -                                                    Spousal Consent form is missing and is required by                                                                                                    Reviewer Comment      10/21/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Purpose                       Purpose        provided.                                                                                          statute.                                                                                                                                              (2025-10-21): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-20): XXXXX
[redacted] [redacted] [redacted] [redacted] 71312547 35278660                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Borrower current address is XXXXX, No History Provided.                                                                                               Reviewer Comment      10/17/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Issue                         required.                                                                                                                                                                                                                                                (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-16): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 71312547 35278661                         Credit     Credit         Credit         Credit         Absence of Business Purpose Certificate                                                            Occupancy Certificate and Business purpose document is                                                                                                Reviewer Comment      10/10/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 and/or Non-Owner Occupancy Declaration and/or                                                      required as per guide.                                                                                                                                (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              UW Business Purpose Analysis and thus casts                                                                                                                                                                                                                                                                                                                                                   Other
                                                                                                                                              doubt on the business purpose of the loan.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 78661457 35278683                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/30/2025                   1          C          A          C          A                WA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78661457 35278685                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        Fraud report missing for borrower: XXXXX.                                                                                                             Reviewer Comment      10/08/2025                   1          C          A          C          A                WA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                                                                                                                                                                                (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 78661457 35278686                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Exception already raised through Doc inventory for                                                                                                    Reviewer Comment      10/08/2025                   1          C          A          C          A                WA        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                    missing fraud report for borrower: XXXXX.                                                                                                             (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 78661457 35278687                         Credit     Borrower and   Mortgage /     Borrower and   The asset/income documentation does not show                                                       XXXXX accounts provided reflect the borrowers address is                                                                                              Reviewer Comment      10/17/2025                   1          C          A          C          A                WA        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Program        Mortgage       the borrower(s) at an address different than                                                       the same as the subject property.                                                                                                                     (2025-10-17): XXXXX                                                                                                                  Cash-out -
                                                                                                 Eligibility    Eligibility    Eligibility    the subject property and thus casts doubt on                                                                                                                                                                                                                                                                                                                                                  Other
                                                                                                                                              the business purpose of the loan.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 76046129 35278691                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        The fraud report provided is for the borrower                                                                                                         Reviewer Comment      10/13/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          "individually". Guides require a fraud report for the                                                                                                 (2025-10-13): XXXXX
                                                                                                                                                                                                                                                 entity. Required Business Fraud reports of "XXXXX
                                                                                                                                                                                                                                                 " from one of the following agencies: XXXXX, XXXXX,
                                                                                                                                                                                                                                                 XXXXX, XXXXX.                                                                                                                                         Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 76046129 35278692                         Credit     Loan Package   Application /  Loan Package   Missing Document: Articles of                                                                      Articles of Organization/Formation required for " XXXXX"                                                                                              Reviewer Comment      10/13/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  Organization/Formation not provided                                                                                                                                                                                                                      (2025-10-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 76046129 35278693                         Credit     Loan Package   Application /  Loan Package   Missing Document: Certificate of Good                                                              Certificate of Good Standing required for "XXXXX"                                                                                                     Reviewer Comment      10/13/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  Standing not provided                                                                                                                                                                                                                                    (2025-10-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 76046129 35278694                         Credit     Loan Package   Application /  Loan Package   Missing Document: Corporate Resolution not                                                         Corporate documents needed to determine ownership                                                                                                     Reviewer Comment      10/13/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           percentage and authority to execute on behalf of the                                                                                                  (2025-10-13): XXXXX
                                                                                                                                                                                                                                                 entity must be provided.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 76046129 35278695                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          Corporate documents needed to determine ownership                                                                                                     Reviewer Comment      10/13/2025                   1          C          A          C          A                NJ        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           percentage and authority to execute on behalf of the                                                                                                  (2025-10-13): XXXXX
                                                                                                                                                                                                                                                 entity must be provided.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 70680330 35278703                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/16/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70680330 35278705                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Primary residence XXXXX and Investment XXXXX last                                                                                                     Reviewer Comment      10/22/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         required.                                                                                          payments provided XX/XX/XX. No more than 45 days have                                                                                                 (2025-10-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 elapsed since the last paid installment date per guides.                                                                                                                                                                                                                                   Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-21): XXXXX
[redacted] [redacted] [redacted] [redacted] 75085227 35278716                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/07/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75085227 35278717                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        Provide a fraud report for the LLC.                                                                                                                   Reviewer Comment      10/14/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                                                                                                                                                                                (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 70937422 35278744                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/16/2025                   1          C          A          C          A                NE        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70937422 35278746                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        The fraud report provided is for the borrower                                                                                                         Reviewer Comment      09/22/2025                   1          C          A          C          A                NE        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          "individually". Guides require a fraud report for the                                                                                                 (2025-09-22): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 entity. Required Business Fraud reports of "XXXXX" from                                                                                                                                                                                                                                    Other
                                                                                                                                                                                                                                                 one of the following agencies: XXXXX, XXXXX, XXXXX,
                                                                                                                                                                                                                                                 XXXXX.                                                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 70937422 35278748                         Credit     Property -     Property       Property -     Subject property has environmental problems   -                                                    The appraisal picture of the bathroom ceiling shows mold                                                                                              Reviewer Comment      09/23/2025                   1          C          A          C          A                NE        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Eligibility -  Appraisal      noted by XXX or visible in the photos                                                              which is a possible safety issue. Provide documentation                                                                                               (2025-09-23): XXXXX                                                                                                                  Cash-out -
                                                                                                                Site and                                                                                                                         there isn't water damage and mold has been removed.                                                                                                                                                                                                                                        Other
                                                                                                                Utilities
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 72877652 35278771                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/17/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-17): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72877652 35278773                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        The fraud report provided is for the borrower                                                                                                         Reviewer Comment      09/26/2025                   1          C          A          C          A                IL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          "individually". Guides require a fraud report for the                                                                                                 (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 entity. Required Business Fraud reports of "XXXXX" from                                                                                                                                                                                                                                    Other
                                                                                                                                                                                                                                                 one of the following agencies: XXXXX, XXXXX, XXXXX,
                                                                                                                                                                                                                                                 XXXXX.                                                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-25): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-24): XXXXX
[redacted] [redacted] [redacted] [redacted] 70015079 35278797                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/26/2025                   1          C          A          C          A                ID        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-26): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 70015079 35278798                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Provide a XXXXX.                                                                                                                                      Reviewer Comment      10/06/2025                   1          D          A          D          A                ID        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                                                                                                                                                                          (2025-10-06): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 71151758 35278858                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/02/2025                   1          C          A          C          A                NJ        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71151758 35278859                         Compliance Compliance     Federal        Missing        Acknowledgement of Borrower Receipt of Notice FDPA Notification Rule: Creditor did not retain      Notice of Special Flood Hazard Disclosure not received by                                                                                             Reviewer Comment      10/09/2025                   1          B          A          B          A                NJ        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Disclosure     of Special Flood Hazard Disclosure Missing    record of borrower's receipt of Notice of Special    borrower within 3 days of application date. Copy in file                                                                                              (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            Flood Hazard Disclosure.                             is not singed, unable to ascertain if borrower received.                                                                                                                                                                                                                                   Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 71151758 35278860                         Credit     Loan Package   Closing /      Title          Title: Evidence of title is missing                                                                No evidence of initial title in file.                                                                                                                 Reviewer Comment      10/16/2025                   1          C          A          C          A                NJ        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title                                                                                                                                                                                                                                                                                  (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 71151758 35278862                         Compliance Compliance     Federal        Missing        Notice of Special Flood Hazard Disclosure Not FDPA Notification Rule: Creditor did not provide a   New Exception as result of documentation provided.                                                                                                    Reviewer Comment      10/15/2025                   1                     A                     A                NJ        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Disclosure     Provided Timely                               Notice of Special Flood Hazard Disclosure within a   Require Initial copy of Flood Disclosure notice as                                                                                                    (2025-10-15): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            reasonable time prior to closing.                    provided copy signed at closing and Date of Determination                                                                                                                                                                                                                                  Other
                                                                                                                                                                                                                                                 is not Provided date.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 77052844 35278889                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/20/2025                   1          C          A          C          A                IN        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-20): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78904458 35278929                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/02/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-02): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76703525 35278936                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/16/2025                   1          C          A          C          A                OH        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71393654 35279964                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/09/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 71393654 35279967                         Credit     Missing        General        Missing        Missing Document: HUD/CD not provided                                                              File is missing a copy of the final HUD/CD and closing                                                                                                Reviewer Comment      09/16/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document                                                                                                          statement.                                                                                                                                            (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 71393654 35279968                         Compliance Compliance     Federal        TRID Defect    Missing Closing Disclosure:  No Document Used Missing Final Closing Disclosure. No document        File is missing a copy of the final closing disclosure.                                                                                               Reviewer Comment      09/16/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    For Fee Testing                               containing fees provided. Any applicable Federal,                                                                                                                                                          (2025-09-16): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            State or Local compliance testing is unreliable.                                                                                                                                                                                                                                                                                                Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-15): XXXXX
[redacted] [redacted] [redacted] [redacted] 76564740 35587158                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      08/04/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 76564740 35587159                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                Fraud report is missing for XXXXX.                                                                                                                    Reviewer Comment      08/06/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-08-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 76564740 35587161                         Credit     Loan Package   Application /  Loan Package   Missing Document: Guarantor Agreement not                                                          Guarantor Agreement is missing in file.                                                                                                               Reviewer Comment      08/06/2025                   1          D          A          D          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                                                                                                                                                                                 (2025-08-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 76564740 35587162                         Credit     Credit         Miscellaneous  Credit         Reverification of mortgage is inconsistent                                                         Primary Residence XXXXX  - 1 Month from mortgage                                                                                                      Reviewer Comment      09/12/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                              with original VOM                                                                                  statement dated XX/XX/XX, however remining 11 months                                                                                                  (2025-09-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 VOR/VOM is missing.                                                                                                                                                                                                                                                                        Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-08-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       08-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 76564740 35587163                         Credit     Document       General        Document       Final Inspection / 442 does not reflect all                                                        Appraisal is completed as is, however, XXX notes hole in                                                                                              Reviewer Comment      11/06/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                 Inventory                     Inventory      required repairs or property completion                                                            wall and possible health hazard, and repairs needed on                                                                                                (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              requirements.                                                                                      decking with inspection recommended, total cost to cure,                                                                                                                                                                                                                                   Other
                                                                                                                                                                                                                                                 $4250.  Further review required.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 72453932 35587165                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                Fraud Report is missing for XXXXX.                                                                                                                    Reviewer Comment      09/22/2025                   1          C          A          C          A                TN        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-09-22): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-19): XXXXX
[redacted] [redacted] [redacted] [redacted] 72453932 35587166                         Credit     Loan Package   Application /  Loan Package   Missing Document: Rider - Prepayment not                                                           Provide corrected wet signed Prepayment addendum and                                                                                                  Reviewer Comment      10/31/2025                   1                     A                     A                TN        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           rider with 36-month term/5% structure and letter of                                                                                                   (2025-10-31): XXXXX
                                                                                                                                                                                                                                                 intent to re-record. Provide an new note and intent to
                                                                                                                                                                                                                                                 re-record.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 70776670 35587167                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      09/26/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-09-26): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70776670 35587168                         Credit     System         General        Appraisal      Valuation address does not match Note         -                                                    XXXXX reflects subject property address as "XXXXX"                                                                                                    Reviewer Comment      10/14/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                               Reconciliation address.                                                                                           however as per note document subject property address is                                                                                              (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 "XXXXX". Required updated XXXXX with correct property                                                                                                                                                                                                                                      Other
                                                                                                                                                                                                                                                 address.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 70776670 35587169                         Credit     Insurance      Insurance      Insurance      Insurance address does not match Note                                                              Hazard Insurance Policy & Replacement cost reflect                                                                                                    Reviewer Comment      10/10/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      address.                                                                                           subject property address as "XXXXX" and note reflects                                                                                                 (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 subject property address as "XXXXX", required updated HOI                                                                                                                                                                                                                                  Other
                                                                                                                                                                                                                                                 & Replacement cost with correct street address.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 70776670 35587170                         Credit     Legal /        Title / Lien   Title          Title Policy is Preliminary or Commitment,                                                                                                                                                                                                               Reviewer Comment      11/04/2025                   1          A          A          A          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Regulatory /   Defect                        and not a Final Title Policy.                                                                                                                                                                                                                            (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                 Compliance                                                                                                                                                                                                                                                                                                                                                                                                                                 Other
[redacted] [redacted] [redacted] [redacted] 70776670 35587171                         Credit     Loan Package   Closing /      Loan Package   Missing Document: Closing Protection Letter                                                        CPL & Title report reflects zip code as "XXXXX" however                                                                                               Reviewer Comment      10/01/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Documentation  not provided                                                                                       as per note zip code is "XXXXX", required updated CPL &                                                                                               (2025-10-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 title report with correct zip code of subject property.                                                                                                                                                                                                                                    Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 70776670 35587172                         Credit     Guideline      Guideline      Guideline      "Other" housing history reflects lates that                                                        Provide updated mortgage histories of the subject                                                                                                     Reviewer Comment      11/04/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         do not meet guidelines.                                                                            property for the following mortgage loans reflecting on                                                                                               (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 credit report. Select portfolio XXXXX. Payment history                                                                                                                                                                                                                                     Other
                                                                                                                                                                                                                                                 must reflect 0 X 30 in the most recent 12 months
                                                                                                                                                                                                                                                 including the month prior to closing. DLA reflects                                                                                                    Buyer Comment (2025-
                                                                                                                                                                                                                                                 XX/XX/XX in credit report.                                                                                                                            11-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-01): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-01): XXXXX
[redacted] [redacted] [redacted] [redacted] 70776670 35587173                         Credit     Credit         Miscellaneous  Guideline      Credit Exception:                                                                                  Missing pay-off for XXXXX  for $446,658.62.                                                                                                           Reviewer Comment      10/01/2025                   1                     A                     A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-01): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       09-30): XXXXX
[redacted] [redacted] [redacted] [redacted] 79011740 35587175                         Credit     System         General        System         Flood Certificate Subject Address does not                                                         Flood certificate address reflects XXXXX however as per                                                                                               Reviewer Comment      11/18/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                              match Note address.                                                                                note subject property address reflects XXXXX, require                                                                                                 (2025-11-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 updated flood certificate with correct subject property                                                                                                                                                                                                                                    Other
                                                                                                                                                                                                                                                 address.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 79011740 35587176                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                Fraud report is missing in file for entity XXXXX                                                                                                      Reviewer Comment      11/18/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-11-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 79011740 35587177                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/07/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 79446821 35587184                         Compliance Compliance     State          State Late     Note Error: Note late charge percentage                                                            Note late charge percentage exceeds maximum per state.                                                                                                Buyer Comment (2025-                    10/31/2025 2          B          B          B          B                NY        Investment Purchase                              N/A    No
                                                                                                                Compliance     Charge         exceeds maximum per state                                                                                                                                                                                                                                10-31): XXXXX
[redacted] [redacted] [redacted] [redacted] 79446821 35587185                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Calculated PITIA months reserves of 0 less than Guideline                                                                                             Reviewer Comment      11/10/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       PITIA months reserves of 6.00. The file includes an                                                                                                   (2025-11-10): XXXXX
                                                                                                                Guidelines                                                                                                                       unsourced Deposit of $35,000.00 dated XX/XX/XX resulting
                                                                                                                Discrepancy                                                                                                                      in the reserve shortage. In addition if including the
                                                                                                                                                                                                                                                 $35k reserves are still short at 4.68 months.                                                                                                         Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 79446821 35587187                         Credit     Business       General        Business       Insufficient funds for Reserves.                                                                   Calculated PITIA months reserves of 4.68 is less than                                                                                                 Reviewer Comment      11/10/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                 Purpose                       Purpose                                                                                                           Guideline PITIA months reserves of 6.00. The file                                                                                                     (2025-11-10): XXXXX
                                                                                                                                                                                                                                                 includes an unsourced Deposit of $35,000.00 dated
                                                                                                                                                                                                                                                 XX/XX/XX resulting in the reserve shortage.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 79446821 35587188                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Calculated funds to close are insufficient The file                                                                                                   Reviewer Comment      11/10/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          includes an unsourced Deposit of $35,000.00 dated                                                                                                     (2025-11-10): XXXXX
                                                                                                                Analysis                                                                                                                         XX/XX/XX resulting in the shortage.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 72767260 35587189                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Fraud report is missing in file for individual                                                                                                        Reviewer Comment      11/18/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                    borrowers/members and for entity XXXXX.                                                                                                               (2025-11-18): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 72767260 35587190                         Credit     Credit         Credit         Credit         OFAC was not checked and required per         -                                                    OFAC is missing in file for both borrowers.                                                                                                           Reviewer Comment      11/17/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 guidelines.                                                                                                                                                                                                                                              (2025-11-17): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 72767260 35587192                         Credit     Guideline      Guideline      Guideline      Red flag warning list hit.                    Additional review of county required.                                                                                                                                                                      Reviewer Comment      11/10/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                                                                                                                                                                                                                                                                                  (2025-11-10): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            Security Instrument County: ___.
[redacted] [redacted] [redacted] [redacted] 72767260 35587195                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/07/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-07): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72767260 35587196                         Credit     Credit         AUS            Credit         Guideline Requirement: Loan purpose           Loan purpose of ___ does not match Guideline loan    Lender Exception provided for vesting in LLC. LLC Cert of Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        11/12/2025 2          C          B          C          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  purpose of ___.                                      Formation states business purpose is "to engage real      exceed the amount required based on the guidelines by at                                    (2025-11-12): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                                                                       estate investments, professional training, consultation   least 4 months.                                                        SitusAMC
                                                                                                                Discrepancy                                                                                                                      and management services" - seeking an exception to the
                                                                                                                                                                                                                                                 issue that LLC purpose is not strictly real estate        The representative FICO score exceeds the guideline                                         Buyer Comment (2025-
                                                                                                                                                                                                                                                 specific. Review for acceptability and downgrade          minimum by at least 40 points.                                                              11-10): XXXXX
                                                                                                                                                                                                                                                 consideration.
[redacted] [redacted] [redacted] [redacted] 77179070 35587197                         Credit     Legal /        Title / Lien   Title          Title Policy is Preliminary or Commitment,                                                                                                                                                                                                               Reviewer Comment      10/30/2025                   1          A          A          A          A                GA        Investment Purchase                              N/A    No
                                                                                                 Regulatory /   Defect                        and not a Final Title Policy.                                                                                                                                                                                                                            (2025-10-30): XXXXX
                                                                                                 Compliance
[redacted] [redacted] [redacted] [redacted] 77179070 35587198                         Credit     Title          General        Title          Title Policy Coverage is less than Original                                                        Title Policy Covering Loan Amount required. Missing                                                                                                   Reviewer Comment      10/30/2025                   1          B          A          B          A                GA        Investment Purchase                              N/A    No
                                                                                                                                              Loan Amount.                                                                                       Closing/Escrow Instructions. MS                                                                                                                       (2025-10-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 77179070 35587199                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                Missing entity Fraud Report                                                                                                                           Reviewer Comment      11/07/2025                   1          C          A          C          A                GA        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 77179070 35587200                         Credit     Loan Package   Application /  Loan Package   Missing Document: Note Addendum - Prepayment                                                       There are 2 different PPP calculations on the Note        Borrower's monthly reserves have been verified and       90 vs 6       SitusAMC,Aggregator  Reviewer Comment                        11/03/2025 2                     B                     B                GA        Investment Purchase                              N/A    Yes
                                                                                                 Documentation  Processing     Documentation  not provided                                                                                       Addendums and PPP Rider. Provide an attestation letter to exceed the amount required based on the guidelines by at                                    (2025-11-03): XXXXX
                                                                                                                                                                                                                                                 have the incorrect prepay addendum destroyed with a       least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 corrected Security Instrument removing the extra rider
                                                                                                                                                                                                                                                 (if applicable) with a letter of intent to re-record      Borrowers made a down payment from their own funds on                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                 along with a corrected PCCD with the updated prepayment   this purchase transaction of at least 5% and $5,000.00.                                     11-03): XXXXX
                                                                                                                                                                                                                                                 calculations if applicable.
[redacted] [redacted] [redacted] [redacted] 71487077 35587202                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        Fraud report required for business "XXXXX"                                                                                                            Reviewer Comment      11/14/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                                                                                                                                                                                (2025-11-14): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 71487077 35587203                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           Available for Closing is insufficient to cover Cash From                                                                                              Reviewer Comment      11/17/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          Borrower. Require more assets to meet the closing                                                                                                     (2025-11-17): XXXXX                                                                                                                  Rate/Term
                                                                                                                Analysis                                                                                                                         requirement.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 71487077 35587206                         Credit     Loan Package   Application /  Missing        Missing Document: Tax Certificate not                                                              Require Tax Certificate for subject property.                                                                                                         Reviewer Comment      11/14/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document       provided                                                                                                                                                                                                                                                 (2025-11-14): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 71487077 35587207                         Credit     Missing        General        Missing        Missing Document: Verification of Non-US                                                           Borrower is a Permanent Resident Alien, the file must                                                                                                 Reviewer Comment      11/14/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       Citizen Status not provided                                                                        contain evidence of                                                                                                                                   (2025-11-14): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 lawful permanent residency.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 71487077 35587208                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/07/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-07): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 71487077 35587209                         Credit     Property -     General        Property -     Subject is a refinance and property is listed -                                                    Lender exception provided but not signed. Please review   The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        11/17/2025 2          C          B          C          B                TN        Investment Refinance -                           N/A    No
                                                                                                 Appraisal      Appraisal      Appraisal      for sale.                                                                                          for acceptance. Exception: The subject property was       minimum by at least 40 points.                                                              (2025-11-17): XXXXX                                                                                                                  Rate/Term
                                                                                                                Requirements                                                                                                                     listed for sale and withdrawn on XX/XX/XX. Confirm and
                                                                                                                                                                                                                                                 acceptance for downgrade consideration.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 71487077 35587210                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       Require additional assets to meet the reserve requirement                                                                                             Reviewer Comment      11/17/2025                   1          C          A          C          A                TN        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       of 6 months.                                                                                                                                          (2025-11-17): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 78086197 35587212                         Credit     Loan Package   Application /  Loan Package   Missing Document: Certificate of Good                                                              Certificate of Good Standing is missing for XXXXX                                                                                                     Reviewer Comment      11/12/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Standing not provided                                                                                                                                                                                                                                    (2025-11-12): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 78086197 35587213                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/12/2025                   1                     A                     A                WI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-12): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 73875087 35587214                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                Fraud report missing in file for business entity "XXXXX"                                                                                              Reviewer Comment      11/07/2025                   1          C          A          C          A                GA        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                                                                                                                                                                          (2025-11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-31): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 73875087 35587216                         Credit     Loan Package   Application /  Loan Package   Missing Document: Note Addendum - Prepayment                                                       Subject transaction locked with 5-year prepayment,        Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        11/04/2025 2                     B                     B                GA        Investment Purchase                              N/A    Yes
                                                                                                 Documentation  Processing     Documentation  not provided                                                                                       calculated at 5% 4% 3% 2% 1%. Loan delivered with a       exceed the amount required based on the guidelines by at                                    (2025-11-04): XXXXX
                                                                                                                                                                                                                                                 prepayment that does not meet program requirements. Note  least 4 months.                                                        SitusAMC
                                                                                                                                                                                                                                                 PPP reflects 5,4,3,3,3 instead.  Please contact your
                                                                                                                                                                                                                                                 Client Advocate for further guidance on requesting an     Borrowers made a down payment from their own funds on                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                 exception once all other conditions are clear.            this purchase transaction of at least 5% and $5,000.00.                                     10-31): XXXXX
[redacted] [redacted] [redacted] [redacted] 77047235 35587217                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Fraud report is missing in file for both borrower and co-                                                                                             Reviewer Comment      10/28/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Documentation                                                                                                                    borrower.                                                                                                                                             (2025-10-28): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 77047235 35587218                         Credit     Credit         Credit         Credit         OFAC was not checked and required per         -                                                    Fraud report is missing in file for both borrower and co-                                                                                             Reviewer Comment      10/31/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Documentation                 guidelines.                                                                                        borrower.                                                                                                                                             (2025-10-31): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 77047235 35587219                         Credit     Insurance      Insurance      Insurance      Hazard Insurance Error: Subject hazard                                                             Hazard Insurance Policy is missing in file.                                                                                                           Reviewer Comment      10/29/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Documentation                 insurance policy expiration date is missing                                                                                                                                                                                                              (2025-10-29): XXXXX
                                                                                                                                              from evidence of insurance.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 77047235 35587220                         Credit     Insurance      Insurance      Insurance      Hazard Insurance Error: Subject hazard                                                             Hazard Insurance Policy is missing, hence unable to                                                                                                   Reviewer Comment      10/29/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                                Documentation                 insurance policy effective date is missing                                                         identify the Policy Effective Date.                                                                                                                   (2025-10-29): XXXXX
                                                                                                                                              from evidence of insurance.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 77047235 35587222                         Credit     Loan Package   Loan File      Missing        Missing Document: Hazard Insurance Policy not                                                      Missing insurance policy                                                                                                                              Reviewer Comment      11/14/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                 Documentation                 Document       provided                                                                                                                                                                                                                                                 (2025-11-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-03): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-31): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 77047235 35587224                         Credit     Missing        General        Missing        Missing Document: Source of Funds/Deposit not                                                      Supporting document is missing for Source of                                                                                                          Reviewer Comment      10/29/2025                   1          C          A          C          A                NY        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       provided                                                                                           Funds/Deposit amount $9,638.69 and $9,246.97 in XXXXX,                                                                                                (2025-10-29): XXXXX
                                                                                                                                                                                                                                                 checking account #XXXXX.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX
[redacted] [redacted] [redacted] [redacted] 72205313 35587225                         Credit     Loan Package   Application /  Missing        Missing Document: Tax Certificate not                                                              Provide Tax cert to support the lender's calculated Tax                                                                                               Reviewer Comment      11/18/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                 Documentation  Processing     Document       provided                                                                                           amount as $XXXXX monthly / $XXXXX annually.                                                                                                           (2025-11-18): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 77812619 35587226                         Credit     Insurance      Insurance      Insurance      Insurance address does not match Note                                                              Provide an updated flood cert and HOI dec page showing                                                                                                Reviewer Comment      11/12/2025                   1                     A                     A                TX        Investment Purchase                              N/A    No
                                                                                                                Analysis                      address.                                                                                           the correct address.                                                                                                                                  (2025-11-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 73400979 35587228                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        The fraud report provided is for the borrower                                                                                                         Reviewer Comment      11/04/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          "individually". Guides require a fraud report for the                                                                                                 (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 entity. Required Business Fraud reports of "XXXXX" from                                                                                                                                                                                                                                    Other
                                                                                                                                                                                                                                                 one of the following agencies: XXXXX, XXXXX, XXXXX,
                                                                                                                                                                                                                                                 XXXXX.                                                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 73400979 35587229                         Credit     Loan Package   Closing /      Loan Package   Missing Document: Closing Protection Letter                                                        Require Closing Protection Letter for the subject.                                                                                                    Reviewer Comment      11/04/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Documentation  not provided                                                                                                                                                                                                                                             (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 73400979 35587230                         Credit     Insurance      Insurance      Insurance      Missing Document: Flood Insurance Policy not                                                       Flood Insurance Policy is not provided and required as                                                                                                Reviewer Comment      11/04/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 provided                                                                                           per guide.                                                                                                                                            (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 73400979 35587231                         Credit     Loan Package   Loan File      Missing        Missing Document: Hazard Insurance Policy not                                                      Require Hazard Insurance Policy with the sufficient                                                                                                   Reviewer Comment      11/11/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                 Documentation                 Document       provided                                                                                           coverage.                                                                                                                                             (2025-11-11): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 73400979 35587232                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/29/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 73400979 35587233                         Compliance Compliance     Federal        Missing        Notice of Special Flood Hazard Disclosure Not FDPA Notification Rule: Creditor did not provide a   Notice of Special Flood Hazard Disclosure within a                                                                                                    Reviewer Comment      11/04/2025                   1          B          A          B          A                PA        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Disclosure     Provided Timely                               Notice of Special Flood Hazard Disclosure within a   reasonable time prior to closing not found.                                                                                                           (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            reasonable time prior to closing.                                                                                                                                                                                                                                                                                                               Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 76087691 35587237                         Credit     Guideline      Guideline      Guideline      "Other" housing history reflects lates that                                                        Mortgage Acct# XXXXX reflects 30-day account for XXXXX                                                                                                Reviewer Comment      11/11/2025                   1          C          A          C          A                NV        Investment Purchase                              N/A    No
                                                                                                                Issue                         do not meet guidelines.                                                                            XXXXX payment per mortgage statement. Also, missing XXXXX                                                                                             (2025-11-11): XXXXX
                                                                                                                                                                                                                                                 payment for mortgage #XXXXX.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 76855151 35587239                         Credit     Insurance      Insurance      Insurance      Insufficient Coverage: Hazard insurance                                                            HOI coverage is insufficient by $18,164.00. Coverage must                                                                                             Reviewer Comment      11/14/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Analysis                      coverage amount is insufficient.                                                                   be at least the lessor of the Cost new from the appraisal                                                                                             (2025-11-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 or the loan amount.  Provide verification of policy with                                                                                                                                                                                                                                   Other
                                                                                                                                                                                                                                                 sufficient coverage OR provide copy of insurer's
                                                                                                                                                                                                                                                 replacement cost estimate supporting current coverage                                                                                                 Buyer Comment (2025-
                                                                                                                                                                                                                                                 amount.                                                                                                                                               11-13): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-30): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX
[redacted] [redacted] [redacted] [redacted] 76855151 35587241                         Credit     Guideline      Guideline      Guideline      Enhanced diligence review is being conducted                                                                                                                                                                                                             Reviewer Comment      10/28/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         on this loan.                                                                                                                                                                                                                                            (2025-10-28): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 77035119 35587242                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/07/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 78767299 35587244                         Compliance Compliance     State          State Late     Note Error: Note late charge percentage                                                            Note late charge percentage exceeds maximum per state.                                                                                                Buyer Comment (2025-                    11/03/2025 2          B          B          B          B                NY        Investment Purchase                              N/A    No
                                                                                                                Compliance     Charge         exceeds maximum per state                                                                                                                                                                                                                                11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 78767299 35587245                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               Investor to provide an acceptable secondary valuation.                                                                                                Reviewer Comment      11/12/2025                   1          D          A          D          A                NY        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                                                                                                                                                                          (2025-11-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 79747779 35587246                         Property   Property -     Appraisal      Property -     Loan is to be securitized. Secondary                                                               The file is missing a copy of the secondary valuation                                                                                                 Reviewer Comment      11/11/2025                   1          D          A          D          A                UT        Investment Purchase                              N/A    No
                                                                                                 Appraisal      Documentation  Appraisal      valuation is missing. Sec ID: 2                                                                    required for securitization purposes.                                                                                                                 (2025-11-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 79747779 35587248                         Credit     Hazard         Insufficient   Hazard         The Hazard Insurance Policy Effective Date is                                                      The Homeowners Insurance policy must be effective at the                                                                                              Reviewer Comment      11/04/2025                   1          C          A          C          A                UT        Investment Purchase                              N/A    No
                                                                                                 Insurance      Coverage       Insurance      after closing.                                                                                     time of closing. Hazard policy effective date XX/XX/XX.                                                                                               (2025-11-04): XXXXX
                                                                                                                                                                                                                                                 Closing is XX/XX/XX. Disbursement date is XX/XX/XX

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 78241600 35587249                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/03/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-03): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 78241600 35587251                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           No Assets provided to cover Cash to Close.  1003 reflects                                                                                             Reviewer Comment      11/11/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          Cash-out proceeds from #XXXXX. Missing evidence of this                                                                                               (2025-11-11): XXXXX                                                                                                                  Rate/Term
                                                                                                                Analysis                                                                                                                         Cash-out transaction.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 78241600 35587254                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                The fraud report provided is for the borrower                                                                                                         Reviewer Comment      11/11/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                    "individually". Guides require a fraud report for the                                                                                                 (2025-11-11): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 entity XXXXX.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 78241600 35587255                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       No Assets provided to cover reserve requirements.  1003                                                                                               Reviewer Comment      11/11/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       reflects Cash-out proceeds from #XXXXX. Missing evidence                                                                                              (2025-11-11): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines                                                                                                                       of this Cash-out transaction.
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 72296831 35587257                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/04/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72296831 35587259                         Credit     Business       General        Business       Missing Document: Spousal Consent not         -                                                    Spousal Consent form is missing and is required by                                                                                                    Reviewer Comment      11/12/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                 Purpose                       Purpose        provided.                                                                                          statute.                                                                                                                                              (2025-11-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX
[redacted] [redacted] [redacted] [redacted] 72296831 35587260                         Credit     Credit         Credit         Credit         No evidence of fraud report in file                                                                The fraud report provided is for the borrower                                                                                                         Reviewer Comment      11/07/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                    "individually". Guides require a fraud report for the                                                                                                 (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 entity XXXXX..                                                                                                                                                                                                                                                                             Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 76675890 35587262                         Credit     Guideline      Guideline      Guideline      Red flag warning list hit.                    Additional review of county required.                Additional review of County required: Loan has Excluded                                                                                               Reviewer Comment      11/12/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                                                                                                                            party. XXXXX properties are frequently leasehold.                                                                                                     (2025-11-12): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                            Security Instrument County: ___.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-12): XXXXX
[redacted] [redacted] [redacted] [redacted] 76675890 35587264                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/29/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-29): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76675890 35587265                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months  Calculated PITIA months reserves of ___ is less than Insufficient cash documented  as a result of (4)          The representative FICO score exceeds the guideline                    SitusAMC             Reviewer Comment                        11/12/2025 2                     B                     B                MD        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  Guideline PITIA months reserves of ___.              concurrent closing.                                       minimum by at least 40 points.                                                              (2025-11-12): XXXXX                                                                                                                  Rate/Term
                                                                                                                Guidelines
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-04): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-03): XXXXX
[redacted] [redacted] [redacted] [redacted] 78321905 35587266                         Compliance Compliance     State          State Late     Note Error: Note late charge percentage                                                                                                                                                                                                                  Buyer Comment (2025-                    11/03/2025 2          B          B          B          B                NY        Investment Refinance -                           N/A    No
                                                                                                                Compliance     Charge         exceeds maximum per state                                                                                                                                                                                                                                11-03): XXXXX                                                                                                                        Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78321905 35587267                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/03/2025                   1                     A                     A                NY        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-03): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 72077011 35587269                         Credit     Missing        General        Missing        Missing Document: HUD/CD (Asset) not provided                                                      The guidelines require an executed Closing Statement.                                                                                                 Reviewer Comment      11/07/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document                                                                                                          Missing an executed Closing Statement of sale of assets                                                                                               (2025-11-07): XXXXX
                                                                                                                                                                                                                                                 $938,255.15 (XXXXX).

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 72077011 35587270                         Credit     Credit         AUS            Guideline      Guideline Requirement: PITIA reserves months                                                       The guidelines require an executed Closing Statement.                                                                                                 Reviewer Comment      11/07/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                                                                       Missing an executed Closing Statement of sale of assets                                                                                               (2025-11-07): XXXXX
                                                                                                                Guidelines                                                                                                                       $938,255.15 (XXXXX).
                                                                                                                Discrepancy
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 72077011 35587273                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to                                                           The guidelines require an executed Closing Statement.                                                                                                 Reviewer Comment      11/07/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                                                                          Missing an executed Closing Statement of sale of assets                                                                                               (2025-11-07): XXXXX
                                                                                                                Analysis                                                                                                                         $938,255.15 (XXXXX).

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 70063548 35587275                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Provide updated mortgage history for property "XXXXX,"                                                                                                Reviewer Comment      11/17/2025                   1          C          A          C          A                TX        Investment Purchase                              N/A    No
                                                                                                                Issue                         required.                                                                                          mortgage loan, XXXXX. Payment history must reflect 0 X 30                                                                                             (2025-11-17): XXXXX
                                                                                                                                                                                                                                                 in the most recent 12 months including the month prior to
                                                                                                                                                                                                                                                 closing.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-17): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 75223520 35587278                         Credit     Missing        General        Missing        Missing Document: Exchange Agreement not                                                           Exchange Agreement is missing in file for 1031 exchange                                                                                               Reviewer Comment      11/07/2025                   1          C          A          C          A                NV        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       provided                                                                                           property XXXXX. Seller's settlement statement provided is                                                                                             (2025-11-07): XXXXX
                                                                                                                                                                                                                                                 not fully executed and doesn't clearly show borrower as
                                                                                                                                                                                                                                                 recipient of proceeds.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 75223520 35587279                         Credit     Guideline      Guideline      Guideline      "Other" housing history reflects lates that                                                        Provide updated mortgage histories of the additional                                                                                                  Reviewer Comment      11/07/2025                   1          C          A          C          A                NV        Investment Purchase                              N/A    No
                                                                                                                Issue                         do not meet guidelines.                                                                            financed property for the following mortgage loans                                                                                                    (2025-11-07): XXXXX
                                                                                                                                                                                                                                                 reflecting on credit report XXXXX. Payment history must
                                                                                                                                                                                                                                                 be current, that no more than 45 days have elapsed since
                                                                                                                                                                                                                                                 the last paid installment date.                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-05): XXXXX
[redacted] [redacted] [redacted] [redacted] 74011979 35587280                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/07/2025                   1          C          A          C          A                NY        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 78677246 35587282                         Credit     Missing        General        Missing        Missing Document: HUD/CD (Asset) not provided                                                      Required executed HUD-1 for exchange property "XXXXX"                                                                                                 Reviewer Comment      11/10/2025                   1          C          A          C          A                NV        Investment Purchase                              N/A    No
                                                                                                 Document                      Document                                                                                                                                                                                                                                                                (2025-11-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 78677246 35587283                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Guidelines require mortgages on the credit report to be                                                                                               Reviewer Comment      11/10/2025                   1          C          A          C          A                NV        Investment Purchase                              N/A    No
                                                                                                                Issue                         required.                                                                                          current no more than 45 days have elapsed since the last                                                                                              (2025-11-10): XXXXX
                                                                                                                                                                                                                                                 paid installment date. Need VOM for XXXXX XXXXX for
                                                                                                                                                                                                                                                 XXXXX.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 71481804 35587284                         Credit     Missing        General        Missing        Missing Document: Exchange Agreement not                                                           Exchange Agreement is missing in file.                                                                                                                Reviewer Comment      11/14/2025                   1          C          A          C          A                NV        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       provided                                                                                                                                                                                                                                                 (2025-11-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-12): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-11): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 71481804 35587286                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             XXXXX requires a 12-month housing history on the subject                                                                                              Reviewer Comment      11/11/2025                   1          C          A          C          A                NV        Investment Purchase                              N/A    No
                                                                                                                Issue                         required.                                                                                          property, primary residence and all additional financed                                                                                               (2025-11-11): XXXXX
                                                                                                                                                                                                                                                 properties. All payment histories must reflect 0X30
                                                                                                                                                                                                                                                 measured from the credit report date. On the credit
                                                                                                                                                                                                                                                 report date (XX/XX/XX), the existing mortgage(s) must be                                                                                              Buyer Comment (2025-
                                                                                                                                                                                                                                                 current, which means that no more than 45 days have                                                                                                   11-07): XXXXX
                                                                                                                                                                                                                                                 elapsed since the last paid installment date (XX/XX/XX).
                                                                                                                                                                                                                                                 Missing VOM for XXXXX for XXXXX
[redacted] [redacted] [redacted] [redacted] 75786173 35587289                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/03/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-03): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 73033202 35587292                         Credit     Missing        General        Missing        Missing Document: Exchange Agreement not                                                           Require 1031 Exchange agreement for Exchange Prop - XXXXX                                                                                             Reviewer Comment      11/05/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       provided                                                                                                                                                                                                                                                 (2025-11-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 73033202 35587293                         Credit     Documents      Missing        Documents      File does not contain documentation from      -                                                                                                                                                                                                          Reviewer Comment      11/05/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                                Document                      lender/seller confirming the condo is                                                                                                                                                                                                                    (2025-11-05): XXXXX
                                                                                                                                              warrantable.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 73033202 35587294                         Credit     Missing        General        Missing        Missing Document: Condo/PUD Warranty not                                                           Missing condo warranty approval.                                                                                                                      Reviewer Comment      11/05/2025                   1          C          A          C          A                CA        Investment Purchase                              N/A    No
                                                                                                 Document                      Document       provided                                                                                           All condominiums must meet XXXXX warrantable Condominium                                                                                              (2025-11-05): XXXXX
                                                                                                                                                                                                                                                 requirements.
                                                                                                                                                                                                                                                 Acceptable project reviews include:
                                                                                                                                                                                                                                                 o Limited Review Process                                                                                                                              Buyer Comment (2025-
                                                                                                                                                                                                                                                 o Full Review Process                                                                                                                                 11-04): XXXXX
                                                                                                                                                                                                                                                 o Full Review: Attached Units in New and Newly Converted
                                                                                                                                                                                                                                                 Condo Projects
                                                                                                                                                                                                                                                 o Project Eligibility Review Service (PERS) Approved
                                                                                                                                                                                                                                                 projects
                                                                                                                                                                                                                                                 o Exempt from warrantability review: Detached Condos and
                                                                                                                                                                                                                                                 2-4 unit Condo
                                                                                                                                                                                                                                                 projects

                                                                                                                                                                                                                                                 Confrm acceptable with no warranty.
[redacted] [redacted] [redacted] [redacted] 73033202 35587295                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Per guidelines, Borrowers who have lived in a rent-free                                                                                               Reviewer Comment      11/11/2025                   1                     A                     A                CA        Investment Purchase                              N/A    No
                                                                                                                Issue                         required.                                                                                          situation are not eligible. Borrowers whose spouse has                                                                                                (2025-11-11): XXXXX
                                                                                                                                                                                                                                                 the mortgage in their name only but can verify payments
                                                                                                                                                                                                                                                 are coming from a joint account are excluded from this
                                                                                                                                                                                                                                                 requirement. Missing documentation of primary housing                                                                                                 Buyer Comment (2025-
                                                                                                                                                                                                                                                 mortgage history, and proof payments made from joint                                                                                                  11-07): XXXXX
                                                                                                                                                                                                                                                 account with borrower.

                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-05): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 76967866 35587319                         Credit     System         General        Appraisal      Valuation address does not match Note         -                                                    Require updated XXXXX to reflect city name as "XXXXX".                                                                                                Reviewer Comment      11/11/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                               Reconciliation address.                                                                                           Reflecting Incorrect City name in XXXXX "XXXXX".                                                                                                      (2025-11-11): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-07): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 76967866 35587320                         Credit     Loan Package   Application /  Loan Package   Missing Document: Trust Agreement not                                                              Note and Security Deed was signed in a Trust. Missing                                                                                                 Reviewer Comment      11/07/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           Trust Agreement for XXXXX.                                                                                                                            (2025-11-07): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 76967866 35587321                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/03/2025                   1          C          A          C          A                GA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-03): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76967866 35587322                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Provide updated mortgage histories on the following -                                                                                                 Reviewer Comment      11/11/2025                   1                     A                     A                GA        Investment Refinance -                           N/A    No
                                                                                                                Issue                         required.                                                                                          XXXXX. On the credit report date, the existing                                                                                                        (2025-11-11): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 mortgage(s) must be current which means that no more than
                                                                                                                                                                                                                                                 45 days have elapsed since the last paid installment
                                                                                                                                                                                                                                                 date.                                                                                                                                                 Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 72111403 35587324                         Compliance TRID           Document Error TRID           Closing Disclosure: Dates are not in          -                                                    The Final Closing Disclosure has been signed on XX/XX/XX,                                                                                             Reviewer Comment      11/14/2025                   1          B          A          B          A                FL        Investment Purchase                              N/A    No
                                                                                                                                              chronological order.                                                                               which is prior to its issue date of XX/XX/XX. Confirm                                                                                                 (2025-11-14): XXXXX
                                                                                                                                                                                                                                                 final CD/Settlement state for testing.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-12): XXXXX
[redacted] [redacted] [redacted] [redacted] 72398833 35587331                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/04/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-04): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 72398833 35587333                         Credit     Asset          Asset          Asset          Available for Closing is insufficient to      Documented qualifying Assets for Closing of  ___ is  401k omitted from closing and used for reserves only due  Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        11/17/2025 2          C          B          C          B                WI        Investment Refinance -                           N/A    No
                                                                                                                Calculation /                 cover Cash From Borrower.                     less than Cash From Borrower ___.                    to lack of evidence of disbursement.                      exceed the amount required based on the guidelines by at                                    (2025-11-17): XXXXX                                                                                                                  Rate/Term
                                                                                                                Analysis                                                                                                                                                                                   least 4 months.                                                        SitusAMC

                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline                                         Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.                                                              11-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 72398833 35587334                         Credit     Guideline      Guideline      Guideline      Aged document: Asset Account date is more     -                                                    Asset documents are 121 days old.  As per guidelines, it                                                                                              Reviewer Comment      11/18/2025                   1          C          A          C          A                WI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         than 90 days prior to Closing.                                                                     should be under 120 Days of note date. Provide updated                                                                                                (2025-11-18): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 quarterly statement for XXXXX.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-18): XXXXX
[redacted] [redacted] [redacted] [redacted] 77557270 35587337                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/12/2025                   1          C          A          C          A                OK        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-12): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76224924 35587338                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      10/31/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-31): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 76224924 35587340                         Credit     System         General        Appraisal      Valuation address does not match Note         -                                                    "XXXXX" Missing in address. Require updated appraisal to                                                                                              Reviewer Comment      11/10/2025                   1          C          A          C          A                TX        Investment Refinance -                           N/A    No
                                                                                                                               Reconciliation address.                                                                                           reflect address as XXXXX.                                                                                                                             (2025-11-10): XXXXX                                                                                                                  Rate/Term


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 79518001 35587341                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Fraud report is missing in file for individual borrowers                                                                                              Reviewer Comment      11/06/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                    and entity.                                                                                                                                           (2025-11-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-04): XXXXX
[redacted] [redacted] [redacted] [redacted] 79518001 35587342                         Credit     Credit         Credit         Credit         OFAC was not checked and required per         -                                                    OFAC is missing in file for both borrowers                                                                                                            Reviewer Comment      11/10/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 guidelines.                                                                                                                                                                                                                                              (2025-11-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-06): XXXXX
[redacted] [redacted] [redacted] [redacted] 79518001 35587346                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/04/2025                   1          C          A          C          A                FL        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 70661320 35587348                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/04/2025                   1          C          A          C          A                CA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-04): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75309049 35587349                         Credit     Guideline      Guideline      Guideline      Red flag warning list hit.                    Additional review of county required.                Additional review of county required. Security Instrument                                                                                             Reviewer Comment      11/12/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                                Issue                                                                                                                            County: XXXXX.                                                                                                                                        (2025-11-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                            Security Instrument County: ___.                                                                                                                                                                                                                                                                                                                Other
[redacted] [redacted] [redacted] [redacted] 75309049 35587351                         Compliance Compliance     State          State Defect   XXXXX SB270 Prepayment Penalty Test XXXXX     XXXXX SB270: Mortgage loan contains an impermissible Mortgage loan contains an impermissible prepayment                                                                                                    Buyer Comment (2025-                    11/11/2025 2          B          B          B          B                MD        Investment Refinance -                           N/A    No
                                                                                                                Compliance                    Investment Test                               prepayment penalty; however Note or Prepay Addendum  penalty; however Note or Prepay Addendum provides                                                                                                     11-11): XXXXX                                                                                                                        Cash-out -
                                                                                                                                                                                            provides specific language that prepayment penalty   specific language that prepayment penalty will not exceed                                                                                                                                                                                                                                  Other
                                                                                                                                                                                            will not exceed maximum permitted by applicable law. maximum permitted by applicable law.
                                                                                                                                                                                                                                                 Remove/Clear Exceptions
[redacted] [redacted] [redacted] [redacted] 75309049 35587352                         Credit     Loan Package   Application /  Loan Package   Missing Document: Lender Exception(s) not                                                          Lender Exception provided but not signed or approved.     Borrower has owned the subject property for at least 5                 SitusAMC             Reviewer Comment                        11/13/2025 2          C          B          C          B                MD        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           Please review for acceptance. Exception: Requesting       years.                                                                                      (2025-11-13): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 exception for no need of COM on current primary held in                                                                          SitusAMC                                                                                                                                                  Other
                                                                                                                                                                                                                                                 LLC and understand cost of .25 applies. Compensating      Borrower's monthly reserves have been verified and
                                                                                                                                                                                                                                                 Factors: Reserves, great credit score and history. All    exceed the amount required based on the guidelines by at               SitusAMC             Buyer Comment (2025-
                                                                                                                                                                                                                                                 mortgage listed on credit report have a great payment     least 4 months.                                                                             11-12): XXXXX
                                                                                                                                                                                                                                                 history.
                                                                                                                                                                                                                                                                                                           The representative FICO score exceeds the guideline
                                                                                                                                                                                                                                                                                                           minimum by at least 40 points.
[redacted] [redacted] [redacted] [redacted] 75309049 35587353                         Credit     Missing        General        Missing        Missing Document: Evidence of Access to Funds                                                      Evidence of Access to Funds is missing in file for                                                                                                    Reviewer Comment      11/18/2025                   1          C          A          C          A                MD        Investment Refinance -                           N/A    No
                                                                                                 Document                      Document       not provided                                                                                       business bank statement of XXXXX.                                                                                                                     (2025-11-18): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 74489609 35587356                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/06/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-06): XXXXX                                                                                                                  Rate/Term
[redacted] [redacted] [redacted] [redacted] 74489609 35587358                         Credit     Loan Package   Application /  Missing        Missing Document: Fraud Report not provided                                                        The fraud report provided is for the borrower                                                                                                         Reviewer Comment      11/11/2025                   1          C          A          C          A                PA        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          "individually". Guides require a fraud report for the                                                                                                 (2025-11-11): XXXXX                                                                                                                  Rate/Term
                                                                                                                                                                                                                                                 entity XXXXX.

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-10): XXXXX
[redacted] [redacted] [redacted] [redacted] 71003685 35587362                         Credit     Borrower and   Mortgage /     Borrower and   The ID documentation (license, passport,                                                           Subject property address is shown on borrower's ID.                                                                                                   Reviewer Comment      11/17/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                 Mortgage       Program        Mortgage       Visa) does not show the borrower(s) at an                                                                                                                                                                                                                (2025-11-17): XXXXX                                                                                                                  Cash-out -
                                                                                                 Eligibility    Eligibility    Eligibility    address different than the subject and thus                                                                                                                                                                                                                                                                                                                                                   Other
                                                                                                                                              casts doubt on the business purpose of the
                                                                                                                                              loan.                                                                                                                                                                                                                                                    Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-13): XXXXX
[redacted] [redacted] [redacted] [redacted] 71003685 35587364                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      11/12/2025                   1          C          A          C          A                NC        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-12): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other
[redacted] [redacted] [redacted] [redacted] 75293781 35587366                         Credit     Loan Package   Application /  Missing        Missing Document: Tax Certificate not                                                              Tax Certificate not provided for the subject property.                                                                                                Reviewer Comment      10/29/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document       provided                                                                                           lender used annual tax $XXXXX and $XXXXX / months.                                                                                                    (2025-10-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-27): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-08): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587367                         Credit     Loan Package   Application /  Missing        Missing Document: Other not provided                                                               DSCR Calculation Worksheet not provided. As per guide                                                                                                 Reviewer Comment      10/10/2025                   1          C          A          D          A                MI        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Document                                                                                                          documentation detailing the DSCR calculation must be                                                                                                  (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 provided                                                                                                                                                                                                                                                                                   Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587368                         Credit     Loan Package   Application /  Loan Package   Missing Document: Operating Agreement not                                                          Operating Agreement for business entity "XXXXX" not                                                                                                   Reviewer Comment      10/08/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  provided                                                                                           provided.                                                                                                                                             (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587369                         Credit     Loan Package   Application /  Loan Package   Missing Document: Certificate of Good                                                              Certificate of Good Standing not provided for XXXXX                                                                                                   Reviewer Comment      10/10/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Standing not provided                                                                                                                                                                                                                                    (2025-10-10): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587370                         Credit     Loan Package   Application /  Loan Package   Missing Document: Articles of                                                                      Articles of Organization/Formation not provided for XXXXX                                                                                             Reviewer Comment      10/08/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Processing     Documentation  Organization/Formation not provided                                                                                                                                                                                                                      (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587371                         Credit     Loan Package   Closing /      Loan Package   Missing Document: Closing Protection Letter                                                        Closing Protection Letter not provided                                                                                                                Reviewer Comment      10/08/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                 Documentation  Title          Documentation  not provided                                                                                                                                                                                                                                             (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587373                         Credit     Credit         Credit         Credit         No evidence of fraud report in file           -                                                    Third party Fraud Report for individual borrower "XXXXX"                                                                                              Reviewer Comment      10/24/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Documentation                                                                                                                    not provided. third-party fraud report is required all                                                                                                (2025-10-24): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 members of the entity.                                                                                                                                                                                                                                                                     Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-10): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-09): XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587375                         Credit     Credit         Credit         Credit         Absence of Business Purpose Certificate                                                            Borrower last name "XXXXX" should be corrected on                                                                                                     Reviewer Comment      10/30/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Documentation                 and/or Non-Owner Occupancy Declaration and/or                                                      Business Purpose Certificate. Last name "XXXXX" incorrect                                                                                             (2025-10-30): XXXXX                                                                                                                  Cash-out -
                                                                                                                                              UW Business Purpose Analysis and thus casts                                                        it should be ""XXXXX"                                                                                                                                                                                                                                                                      Other
                                                                                                                                              doubt on the business purpose of the loan.
                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-29): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-24): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-23): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Reviewer Comment
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-10-14): XXXXX


                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587376                         Credit     Guideline      Guideline      Guideline      Verification of housing pay history is                                                             Require verification of mortgage for the month due                                                                                                    Reviewer Comment      10/08/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                Issue                         required.                                                                                          XX/XX/XX for the below investment REO. per guide                                                                                                      (2025-10-08): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 i) XXXXX                                                                                                                                                                                                                                                                                   Other
                                                                                                                                                                                                                                                 ii) XXXXX
                                                                                                                                                                                                                                                 iii) XXXXX                                                                                                                                            Buyer Comment (2025-
                                                                                                                                                                                                                                                 iv) XXXXX                                                                                                                                             10-07): XXXXX
                                                                                                                                                                                                                                                 v) XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587377                         Credit     Guideline      General        Guideline      DSCR does not meet guideline requirements.                                                         Guaranty Agreement should be corrected with borrower last                                                                                             Reviewer Comment      10/14/2025                   1          C          A          C          A                MI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                 name "XXXXX"                                                                                                                                          (2025-10-14): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-14): XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587378                         Credit     Credit         AUS            Credit         Guideline Requirement: Minimum Loan Amount    Note loan amount of ___ is less than Guideline       Minimum loan amount not meeting the requirement, lender   Borrower's monthly reserves have been verified and                     SitusAMC             Reviewer Comment                        10/06/2025 2          B          B          B          B                MI        Investment Refinance -                           N/A    No
                                                                                                                Discrepancy /                 discrepancy.                                  minimum loan amount of ___.                          provided exception not approved.  Require minimum loan    exceed the amount required based on the guidelines by at                                    (2025-10-06): XXXXX                                                                                                                  Cash-out -
                                                                                                                Guidelines                                                                                                                       amount due to appraisal coming in lower than the client   least 4 months.                                                        SitusAMC                                                                                                                                                  Other
                                                                                                                Discrepancy                                                                                                                      anticipated. Compensating Factors: Good Credit, excellent
                                                                                                                                                                                                                                                 reserves, incredibly strong rental history as client owns The representative FICO score exceeds the guideline                                         Buyer Comment (2025-
                                                                                                                                                                                                                                                 around 100 properties, the real estate company and the    minimum by at least 40 points.                                                              10-03): XXXXX
                                                                                                                                                                                                                                                 property management company.
[redacted] [redacted] [redacted] [redacted] 75293781 35587380                         Credit     Loan Package   Application /  Loan Package   Missing Document: Note Addendum - Prepayment                                                       Subject transaction locked with 1-year prepayment,                                                                                                    Reviewer Comment      10/09/2025                   1                     A                     A                MI        Investment Refinance -                           N/A    Yes
                                                                                                 Documentation  Processing     Documentation  not provided                                                                                       calculated at 1%. Loan delivered with no prepayment                                                                                                   (2025-10-09): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                 penalty documentation. Subject transaction will be re-                                                                                                                                                                                                                                     Other
                                                                                                                                                                                                                                                 priced with no prepayment penalty. Please confirm subject
                                                                                                                                                                                                                                                 transaction has no prepayment penalty.                                                                                                                Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       10-08): XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587381                         Credit     Credit         Miscellaneous  Credit         Miscellaneous Credit (Non-Material):                                                               Request to re-review in XXXXX bucket                                                                                                                  Reviewer Comment      11/07/2025                   1                     A                     A                MI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-11-07): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other

                                                                                                                                                                                                                                                                                                                                                                                                       Buyer Comment (2025-
                                                                                                                                                                                                                                                                                                                                                                                                       11-07): XXXXX
[redacted] [redacted] [redacted] [redacted] 75293781 35587382                         Credit     Credit         Miscellaneous  Credit         Loan Selected for Enhanced Valuation Review                                                                                                                                                                                                              Reviewer Comment      12/29/2025                   1                     A                     A                MI        Investment Refinance -                           N/A    No
                                                                                                                                                                                                                                                                                                                                                                                                       (2025-12-29): XXXXX                                                                                                                  Cash-out -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other